
French President Francois Hollande named veteran Socialist parliamentary leader and Germany-expert Jean-Marc Ayrault as prime minister on Tuesday, an appointment which may help smooth negotiations with Berlin on tempering austerity in Europe.

Attempts to form a government in Greece collapsed on Tuesday rattling financial markets at the prospect of extremist parties opposed to the terms of an EU bailout could sweep to victory and push the Euro zone crisis into a dangerous new phase.

Socialist Francois Hollande is to be sworn as France's president Tuesday before naming a prime minister and dashing to Germany to battle with Berlin over how to tackle Europe's debt crisis.

Forty-eight Italian senators and lawmakers expressed their public support for Argentina’s sovereignty claim over the Falklands/Malvinas Islands in a letter sent to UN Secretary General Ban Ki-moon, the Argentine Foreign Ministry announced on Monday.

Miguel Galuccio the new CEO of seized oil corporation YPF had already discussed conditions with the Argentine government for the job back in 2009, reveals the Spanish press. At that time no agreement was reached because the salary and other conditions he demanded were considered excessive.

The European Union has agreed to file a trade suit against Argentina's import restrictions with the World Trade Organization (WTO), a senior Spanish government source said on Monday, reports Reuters.

Italy's Prime Minister has not ruled out bringing in the army to deal with the increasing levels of violence across the country. PM Mario Monti raised alert levels Sunday at sensitive sites across the country after a rebel group shot and wounded the head of the state-controlled nuclear energy company, Ansaldo Nucleare.

Bio-fuels expert Christopher Berg and head of F.O. Licht forecasted that Argentina this year will become the largest exporter of bio-diesel to the European Union in spite of the Spanish veto to imports in retaliation for the seizure of YPF.

The Argentine government expressed “great concern” on Monday following the decision from the Spanish government to ban bio-diesel “not produced within the European Union” from the country.

Protests of indignados continue in Madrid and Barcelona in spite of arrests and members of the 15-M movement have promised they will not abandon streets and plazas until after the anniversary of the first protest in Puerta del Sol a year ago on Tuesday.