European Central Bank

Coalition leaders struggle to agree on target of €11.5 billion in cuts as recession enters fifth year.

Despite the recent peak in gold prices in anticipation of further economic stimulus by the US Fed Reserve, doubts over the precious metal as a safe investment persist.

OECD economists say UK economy to contract by -0.7 percent in 2012 rather than grow 0.5 percent as previously though

ECB president Mario Draghi says plans to support bond market will preserve singleness of monetary policy but markets stall.

Report suggests ECB prepared to buy unlimited quantities of Eurozone government debt to bring down yields and draw a line under the crisis.

Moody's says EU's negative outlook is due to its key budget contributors.

Controversial European Commission plans would hand European Central Bank authority over all eurozone banks in first step to monetary union.

PMI data shows continued contraction of private sector output across crisis-hit eurozone, with accelerating decline of powerhouse Germany

First quarter revision prevents recession, but German Economic sentiment data indicates a tough second half for region's economy.

All major Asian indices extend their loss as the ECB fails to hold out any hope of immediate action to save the troubled eurozone.

Investors disappointed by ECB President Mario Draghi's press conference in Frankfurt as bond purchase programme remains dormant.

Spain's second recession in three years extends to the second quarter while the IMF say growth won't return until 2014.

Bank of England, Federal Reserve and European Central Bank rate moves highlight active week for global economy

Prime Minister Samaras is set to meet EU Commission President Thursday as Troika continues to doubt Greece's ability to get back on track with its promised reforms.

A negative outlook points to chances of a high risk of annual cut in the rating within a couple of years.

It's all somewhat worrying when financial items in much of the world's media refer to "ESM bailout funds" as if the European Stability Mechanism were already well established and operating in Luxembourg. Initially hoped to be up and running by July 2012 after a final draft was agreed by Eurozone leaders in Brussels on 02 February 2012, the ratification process, progressing fairly well up to the Netherland's Queen Beatrix granting Royal Assent on 05 July with formal endorsement on...

The A-Z of the EU and ECB tool kit for building the bazooka-like firewall around the sovereign debt crisis

Bank of England adds £50bn additional firepower to asset purchase programme

With an agreement being reached in the early hours of Friday, 29 June 2012 at the European Summit in Brussels over the Euro Crisis, my Mystic Meg clairvoyant award was cancelled. Don't care, I wasn't alone in getting the outcome - little or no change with platitudes - so very wrong. Typical of reporters was Ian Chua for Reuters in Sydney filing a report at just past midnight on Friday morning:

Chancellor George Osborne says austerity is why gilt yields have hit record lows, but IBTimes UK explores the bigger reasons for Britain's low cost of borrowing.

European leaders agree to take action against spiralling borrowing costs of Spain and Italy.

Two-day meeting set to discuss markets, debt-sharing despite absence of Greek Prime Minister

On Wednesday 27 June 2012, French President François Hollande met German Chancellor Angela Merkel for preliminary talks prior to Thursday's, yet another "crucial", European Union meeting to try to further resolve the crisis in the Eurozone. The political leaders of France and Germany, so recently partners in agreement on the best way forward for the single currency are, effectively, now poles apart in their approach to the crisis and its solution.

Arson, bomb threats and government departures underline plight of Europe's "Sick Man"

Italy's third largest bank to cut 4,600 jobs and to close down 400 branches.

Banca Monte dei Paschi di Siena is the first Italian bank to receive some form of state aid, after the Italian cabinet have offered to back the banks bonds, similar to Tremonti bonds.

Shares in Italy's largest banks plummet after the head of Italy's banking association called on the European Central Bank to buy bonds

Lenders, such as IMF and EU nations Germany and Britain, exerting pressure for Greece to act swiftly on reforms in midst of widespread doubt.

The crucial Greek vote will set the stage for the country's continuation or exit from the single currency zone.

As the Greek elections loom this weekend, IBTimes UK takes a look at how the event will shape up, will Greece leave the Euro and of course the battle for the public to vote for a pro-bailout party.