Parties in Slovakia's fallen government struck a deal with the leftist opposition Wednesday to ratify a plan to bolster the Euro zone's rescue fund by Friday, effectively ending a crisis that had threatened the currency's main safety net.
The president of the European Commission called Wednesday for EU leaders to bring forward the introduction of a permanent rescue mechanism for states to mid-2012 from mid-2013 and called for more rigorous capital standards for banks.
Spanish banks including Banco Santander SA and Banco Bilbao Vizcaya Argentaria SA had their ratings cut by Standard & Poor’s, which cited “dimming” growth prospects and “heightened” market turbulence.
Palestinian leader Mahmud Abbas left Colombia empty-handed Tuesday after failing to secure support from President Juan Manuel Santos for his bid to gain state recognition at the United Nations.
Brazil football star Romario has said FIFA must not be allowed to dictate changes to Brazilian law ahead of the World Cup in 2014. Romario, who is now a congressman, said laws that guarantee half-price tickets to students and pensioners should not be swept away.
Russian Prime Minister Vladimir Putin said on Tuesday that the crisis-hit Euro zone had enough resources to resolve its own troubles without support from Russia and fellow BRIC countries.
Europe's top financial watchdog warned Tuesday that the Euro zone's sovereign debt crisis has become systemic and threatens global economic stability unless decisive action is taken urgently.
Food price volatility featuring high prices is likely to continue and possibly increase, making poor farmers, consumers and countries more vulnerable to poverty and food insecurity, the United Nations' three Rome-based agencies said in the global hunger report published Monday.
China will expand a tax on oil and natural gas sales to the entire country as of November first to try and reduce consumption. The tax will be 5-10% of sales, the State Council said Monday.
China reiterated that an expected vote this week in the US Senate on a bill intended to pressure Beijing to allow its currency to raise if made into law would result in a trade war and hurt US-China ties.