The new French Socialist leader Martine Aubry defended a strong economic stimulus program to help the weakest based on the Social-democrat model because communism died twenty years ago, and neo-liberalism just two months ago.
The British government has denied a shift in policy on the Euro after the European Commission's president said the UK was closer than ever before to joining.
OPEC energy ministers decided on Saturday to leave oil production quotas unchanged after talks in the Egyptian capital following falls in the price of oil. OPEC President Chakib Khelil said any such decision would be made at a meeting in Algeria next month.
China's President Hu Jintao has warned that the global financial crisis could weaken his country's competitiveness. Mr Hu gave his warning at a meeting of the Politburo and his words have been made public by the state media.
The rugged coast of western Tasmania in Australia claimed the lives of another 150 whales at the weekend when they stranded themselves on craggy rocks near Sandy Cape. The long-finned pilot whales were spotted on Saturday morning and were already badly injured by the time rescue crews and locals reached them.
Unemployment in the European Union 15 nations that share the Euro shot up to 7.7% in October ? the highest level in two years ? as growth dropped sharply. Inflation on the other hand plunged to 2.1% in November as oil came down from the record prices of last July.
British taxpayers will take a 57.9% stake in Royal Bank of Scotland after investors snubbed its £15 billion share offer, the bank said on Friday. RBS existing shareholders refused to buy the new stock because the bank's shares were trading below the 65.5p offer price announced in October.
Britain's political system reacted with outrage to the arrest of shadow Immigration minister Damian Green and the search of his home by the police. Liberal Democrats have called the arrest a mayday warning for democracy amid cross-party anger over the move.
Spain has launched an 11 billion Euro plan aimed at boosting the economy and creating 300,000 jobs. The plan, which represents 1.1% of Spain's GDP is part of the European Union's 200 billion Euro stimulus announced on Wednesday.
The next summit of the Group of 20 countries on the global economic crisis will be held in London on April 2 next year, British Prime Minister Gordon Brown announced on Wednesday. It will also be Barack Obama first visit to London as the new US president.