The main question ahead of the key Fed meeting on Tuesday is whether the world’s largest economy can survive on less government monetary stimulus. Data shows the economy is still luke-warm but politics will encourage the Fed to slow quantitative easing. Chair Ben Bernanke gave strong hints in August that the Fed would decide to begin tapering its stimulus in September. If he reneges it could destabilize... 

Spain public debt has climbed to record 92.2 percent of the country’s gross domestic product (GDP) for the second quarter of this year amid deteriorating financial woes. The Bank of Spain announced on Friday that the Spanish debt for the period between April and June surpassed the government’s year-end target of 91.4 percent of GDP, reaching the unprecedented 92.2-percent level. This is while... 

Official data shows Greece’s unemployment rate rose to a new record high in July as the country continues to grapple with a recession-hit economy following the implementation of tough austerity measures. The Greek Statistical Authority said on Thursday that the jobless rate rose to 27.9 percent in July from 27.6 percent in June, marking a sharp rise compared to last year when the jobless rate stood... 

Italian Five Star Movement opposition leader Beppe Grillo Italian opposition leader has used harsh language against lawmakers, saying they have “sold their soul to the German devil” and the only way out of the recession is to exit the euro or face a default. “Italian politicians have sold their soul to the German devil in return for their survival, at the expense of the people, who have to suffer... 

Europe plunged into financial crisis in early 2008. Official data show the collective debt in the eurozone has hit a new record high of 92.2 percent in first quarter of 2013, as the 17-nation bloc continues to grapple with a worsening financial crisis. The data released by Eurostat, the EU’s statistics office, on Monday showed that government debt as a share of the total annual GDP of the eurozone... 

Italy’s economy shrinks more than previously estimated in the first quarter of 2013. Italy’s economy has contracted more than initially estimated in the first quarter of 2013, marking the seventh quarterly contraction in a row, the country’s statistical agency says. Figures from the national statistical agency, Istat, showed on Monday that Italy’s gross domestic product (GDP) shrank by... 

South African President Jacob Zuma addresses striking miners at a platinum mine in the town of Marikana. South African President Jacob Zuma says problems including strikes and deadly clashes faced by the mining industry have affected the country’s economy. “When our mining sector is in difficulties, this affects the wider economy, leading to industrial slowdown,” Zuma said on Thursday. Reports... 

Governor of Bank of Canada Mark Carney Governor of Bank of Canada has warned Europe that it faces a “decade of stagnation” if it does not apply sustained and significant reforms to put its fiscal house in order. Mark Carney issued the warning on Tuesday while making a speech to the Montreal board of trade. “Europe remains in recession, with economic activity constrained by fiscal austerity,... 

The euro zone economy is declining for six consecutive quarters. Nine of the 17 countries are in recession: Spain, France, Italy, Finland, Netherlands, Portugal, Cyprus, Greece and Slovenia. The austerity policy imposed by the troika and the German government of Angela Merkel is sinking Europe. Eurostat data was released on Wednesday (15th) and are relative to GDP in the euro area in the first quarter... 

Rise: A man walks outside a Greek Manpower Employment Organisation office,in central Athens. Greek youth unemployment rose above 60 percent for the first time in February Greek youth unemployment rose above 60 per cent for the first time in February, reflecting the pain caused by the country’s crippling recession after years of austerity under its international bailout. Greece’s jobless... 

Greek Prime Minister Antonis Samaras arrives at the Finance and Development Ministry in Athens for a meeting with the Development minister, January 9, 2013. New official data show that Greece’s unemployment rate increased to 26.8 percent in October as the eurozone country witnesses a sixth year of recession. “Unemployment in October 2012 was 26.8 percent, compared with 19.7 percent in October... 

Bankia’s headquarters in Madrid Spain’s nationalized Bankia says it plans to cut 6,000 jobs by laying off about 28 percent of its staff over the next three years. The announcement on Wednesday follows a preliminary report on Madrid’s overall economy by the Spanish Central Bank suggesting that the country’s job-killing recession is expected to persist into the final quarter of 2012. Bankia’s... 

Thousands of people hold a demonstration outside the Portuguese parliament in the capital Lisbon on October 31, 2012. Thousands of people have gathered outside the Portuguese parliament in Lisbon to protest against the assembly’s approval of the government’s 2013 draft austerity budget. The demonstration was staged on Wednesday after the parliament approved the draft bill, which proposes substantial... 

Standard & Poor’s (S&P) Ratings Services has downgraded the credit ratings for three French banks, including BNP Paribas, citing growing risks facing the banks from potential prolongation of the eurozone recession. “In our view, the economic risks, under which French banks operate, are increasing, leaving French banks moderately more exposed to the potential of a more protracted... 

A self-made euro sign is attached to the tip of a christmas tree in front of the European Central Bank (ECB) in Frankfurt am Main, western Germany. European Commission has predicted that the eurozone currency bloc faces a deeper recession than previously anticipated, with a 0.3 percent contraction in its GDP now tipped for 2012. The commission previous forecast in November said the economic output...