China is considering buying more EU government bonds amid a worsening European debt crisis in order to support its biggest trading partner, according to Chinese Premier Wen Jiabao. “China is willing, on condition of fully evaluating the risks, to continue to invest in the eurozone sovereign debt market, and strengthen communication and discussion with the European Union, the European Central... 

Rating agency Moody’s has cut its rating on Spanish government debt by three notches from A3 to Baa3. Cyprus’s sovereign debt was lowered by two notches from Ba1 to Ba3. The agency said Wednesday that Spain’s debt burden would increase once the EU has approved a plan to help the country’s banks. It has Spain under further review and could lower its rating even further, Reuters reports.... 

An EU flag flutters inside the European Union headquarters in Brussels. Brussels: It’s been a stormy year for the European single currency, and there are very real fears that the sovereign debt crises that hit Greece and Ireland could engulf other eurozone countries. The EU has been under fire for its response to the crisis and for not doing enough to prevent a fresh set of bailouts. No one could...