Economy

• Monday, October 17th 2011 - 17:28 UTC

  Germany warns Greek bondholders will have to accept steeper ‘hair-cut’

  

  Germany lowered expectations of a breakthrough in the Euro zone's sovereign debt crisis next weekend, saying Sunday's EU summit will not produce a final solution, and kept up pressure on banks to accept bigger write-downs on Greek debt.

• Monday, October 17th 2011 - 06:45 UTC

  ECB president Trichet calls for deep changes in the EU treaty

  

  European Central Bank President Jean-Claude Trichet said the European Union's treaty should be changed to prevent one member state from destabilizing the rest of the bloc, and urged stronger governance of the Euro zone.

• Monday, October 17th 2011 - 06:34 UTC

  Every day a billion people go to sleep feeling hungry, recalls UN on Food Day

  

  With nearly one billion people still suffering from food shortages around the globe, the world must take a united stand against hunger, the United Nations said on Sunday 16 October, marking World Food Day.

• Monday, October 17th 2011 - 03:57 UTC

  Volcanic ash forces flights’ suspension at Argentina and Uruguay main airports

  

  Argentina and Uruguay suspended flights at major airports Sunday due to dangerous ash from neighbouring Chile's Puyehue volcano, which has disrupted global travel since it erupted earlier this year.

• Saturday, October 15th 2011 - 18:49 UTC

  Massive global marches against the “financial elites and servant politicians”

  

  Protests at financial mismanagement and government cutbacks have been held in hundreds of cities around the world. Clashes erupted at the biggest rally, in Rome, when riot police intervened after a small group of masked militants attacked property.

• Saturday, October 15th 2011 - 18:42 UTC

  US Treasury freezes the Chinese Yuan manipulation claim controversy

  

  The US Treasury has delayed a ruling on whether China manipulates its currency to gain an unfair trade advantage until later this year. It said the move “will give us a chance to assess progress following several international meetings”. Critics of China say it keeps the Yuan low to keep its exports cheap.

• Saturday, October 15th 2011 - 18:35 UTC

  G20 ministerial meeting puts all its weight behind the coming EU summit

  

  A European Union summit later this month will agree “decisive” measures to tackle the Euro zone debt crisis, the French finance minister announced on Saturday.

• Saturday, October 15th 2011 - 04:30 UTC

  Argentine September official inflation 0.8%, less than half private estimates

  

  September inflation in Argentina climbed 0.8%, less than half the estimate from private consultants, according to the latest report from the discredited Statistics and Census Institute, Indec. In nine months accumulated inflation reached 7.3% and compared to a year ago, 9.9%.

• Saturday, October 15th 2011 - 04:25 UTC

  Developing economies proposal to double size of IMF shot down by main members

  

  Proposals to double the size of the IMF as part of a broader international response to Europe's debt crisis immediately ran into resistance from the United States and others, burying the idea for now and firmly putting the onus back on Europe.

• Saturday, October 15th 2011 - 04:23 UTC

  Merkel hits back at critics, insists on regulation of financial markets

  

  German Chancellor Angela Merkel hit back at critics of her Euro zone policy saying it was unacceptable for them to demand bolder action to combat the debt crisis while at the same time resisting steps to rein in financial markets.