Italy has asked China to buy Italian debt as the euro zone's third-largest economy struggles to convince markets it can manage its debt load, media reports said. An Italian auction of long-term debt due later on Tuesday could show if investors have found any reassurance from the reports that China might offer financial support to
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Libya's interim leader has made his first public speech in Tripoli, warning against reprisals after loyalists of the ousted Muammar Gaddafi struck out at the revolutionaries pursuing them. In an apparent attempt to disrupt a drive by the ruling National Transitional Council (NTC) to seize the ousted leader's last bastions and revive the oil-based economy,
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Nintendo announced a raft of new software in an attempt to prop up disappointing sales of its latest handheld games gadget, the 3DS, but there was no sign of the add-on accessory that games blogs have said is in the works. Nintendo's shares slid about 6% on Tuesday in a strong broader market in a
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Japanese Prime Minister Yoshihiko Noda reaffirmed his commitment to curbing public debt on Tuesday and warned taxes will have to rise, while reaching out to the opposition for help in tackling the multitude of problems the country faces. Noda, who became the nation's sixth premier in five years early this month, did not offer any
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German Finance Minister Wolfgang Schaeuble said on Monday there could be no taboos in trying to solve the Greek debt crisis and the government had to consider all eventualities. "It would be a bad government if it didn't try to prepare for things you can't even imagine as well as possible," Schaeuble told ZDF broadcaster,
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A new property tax may pull Greece back from the brink of default by securing desperately needed EU/IMF cash but it also exposes the government's foot-dragging in curing chronic structural ills to exit its debt crisis. EU officials cheered but markets gave a lukewarm reception to the new tax announced on Sunday, which aims to
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Asian stocks rose and the euro edged off a seven-month low on Tuesday after a report that Italy may get financial support from China sparked a bout of short-covering but did nothing to ease fears that Europe is sliding into another banking crisis. Growing expectations of a Greek debt default, sharp drops in European shares
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Greek workers threatened on Monday to sabotage a new property tax decided by the government as a last-ditch effort to please international lenders, ignoring warnings that Athens will run out of cash next month. The move casts doubt on the government's goal to plug a 2 bln euro hole in its 2011 budget and meet
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Officials from German Chancellor Angela Merkel's coalition sent a tough message to Greece on Monday that it might have to leave the euro zone if it fails to meet conditions for its bailout package. A top Merkel aide signalled the chancellor's support for the leaders of her two centre-right coalition partners, after they spoke publicly
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Ireland's government should cut public sector pay again to get its budget deficit under control, the ECB's departing chief economist Juergen Stark said in an interview published on Monday. Stark's comments, made hours before his shock resignation on Friday, heap pressure on Prime Minister Enda Kenny to go beyond the 3.6 billion euros ($4.9 billion)
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