International

• Friday, November 18th 2011 - 21:35 UTC

  Controversy over the ECB role remains at the heart of the Euro crisis

  

  European Central Bank chief Mario Draghi told Euro zone governments on Friday to act fast to get their rescue fund up and running, expressing exasperation at their lack of progress in response to an escalating debt crisis.

• Friday, November 18th 2011 - 05:38 UTC

  Euro confidence crisis has several countries under siege

  

  Greek police clashed with anti-austerity protesters and Italy announced sweeping reforms in response to a European debt crisis that on Thursday pushed borrowing costs for France and Spain sharply higher.

• Thursday, November 17th 2011 - 22:20 UTC

  Greek bond holders prepare for 50% ‘hair cut’ discussions involving 100bn Euros

  

  Greece and holders of its debt hope to agree on a proposal to halve its privately held debt within weeks, both sides said on Thursday, raising hopes that a key pillar of Greece's 130 billion Euros bailout is still on track.

• Thursday, November 17th 2011 - 22:15 UTC

  Italian cabinet receives ample Senate confidence vote; Monti outlines program

  

  New Italian PM Mario Monti's government of technocrats passed its first test, winning a vote of confidence in the senate late Thursday. As expected, the government won the vote in the upper house of parliament easily, by 281 votes to 25.

• Thursday, November 17th 2011 - 19:56 UTC

  Germany and France clash over a greater role for the European Central bank

  

  German Chancellor Angela Merkel reiterated Thursday her opposition to a greater role for the European Central Bank in helping to solve the Euro zone debt crisis, saying political action was required.

• Thursday, November 17th 2011 - 19:53 UTC

  Moody downgrades ratings of ten German public-sector banks

  

  Moody’s ratings agency decided on Thursday to surprisingly downgrade the rating of ten German public-sector banks. This is the first time Europe’s largest economy in the region, which keeps the Euro zone afloat, is hit.

• Thursday, November 17th 2011 - 17:41 UTC

  G20 president says Uruguay is no ‘fiscal haven’ and praises transparency commitment

  

  Uruguay received a huge political boost from Mexico (the same it was denied from its Mercosur partners under influence from Argentina) in its dispute with the recent G20 summit which through spokesperson French president Nicholas Sarkozy described Uruguay as a ‘fiscal haven’.

• Thursday, November 17th 2011 - 07:20 UTC

  US is all in a “Pacific power”, Obama tells Australia (and China)

  

  President Barack Obama said that the Asia-Pacific region will play a key role in defining the world's future. “The United States is a Pacific power, and we are here to stay,” he stated in a speech to the Australian Parliament, sending a clear message to Beijing.

• Thursday, November 17th 2011 - 03:45 UTC

  Euro crisis had heads rolling in the IMF; European Department chief removed

  

  The head of the International Monetary Fund's European department quit less than a year into the job and was replaced by a veteran staffer as the European debt crisis worsens.

• Wednesday, November 16th 2011 - 21:01 UTC

  Unhate campaign launches a round of kissing among world leaders

  

  Benetton, the Italian family-controlled clothing empire, looks set to raise a few eyebrows, as it unveiled a new worldwide communication “Unhate” campaign that features political and faith leaders like Pope Benedict XVI, German chancellor Angela Merkel, French president Nicolas Sarkozy, Barack Obama and Hugo Chavez kissing.