European Union

Stronger tax receipts help narrow budget deficit to £4.9bn higher than it was at this time last year.

European Central Bank will take on role of top watchdog on 1 January but several key issues remain unresolved

Single supervisor will intervene early to avert dangerous accumulation of a bank’s debts.

The 42-year-old pianist and composer's mockery of quickfire call to prayer brings charges of offending Muslims.

Nikkei average ends 2 percent while KOSPI gains 0.20 percent. Shanghai index and Hang Seng up 1.24 and 0.48 percent.

Banking union wants single supervisor under ECB but Germany prefers political union to tackle the region’s crisis.

Nikkei climbs 1.66 percent while KOSPI gains 0.15 percent. Shanghai and Hong Kong markets rise 0.52 and 0.48 percent.

Citigroup's Steve Englander argues Greece leaving the Euro is not an option and the cost of a break up would be "tremendous"

Britain has clawed back less than a third of value lost during global economic crisis thanks to faster inflation, weak exports and government spending cuts.

House of Lords to Question Barclays, RBS and Lloyds on EU banking reform and the impact it will have on the UK

The EU approved a second round of tough trading sanctions on Iran as crude exports, currency continue to tumble.

Prime minister signs agreement to give Scotland 2014 referendum on whether to leave UK after meeting first minister Alex Salmond.

Turkey repeats calls to UN to build refugee camps in safe area within Syrian borders to ease pressure.

Nikkei 225 average and Hang Seng end 0.51 percent and 0.09 percent higher while KOSPI and Shanghai fall 0.40 per cent and 0.30 percent.

Simmering political tensions up and down the Continent should remind Europe's leaders of what's at stake in the current economic crisis.

Bulk of increase contributed by ASEAN and the US although shipments to eurozone drop.

Opposite reactions form Euro-Sceptics and Europhiles as EU is awarded the prestigious prize.

Countries around the world celebrated World Day against the Death Penalty but in much of Africa capital punishment remains a human rights concern, says Cathal Gilbert.

Spain insists there's no pressure to seek financial aid, IMF urges more time for budget measures to take hold as Germany juggles multiple bailouts

Three of the UK’s largest banks face questions about European Union banking reform from the House of Lords Committee

Experts say award is politically motivated, following nationalist turbulence which has blighted EU over recent months.

Share sale could raise more than £1bn for state-owned Royal Bank of Scotland after EU directed divestment

S&P cites deepening recession and limited options before government to deal with the crisis as reasons for downgrade.

Former UK home secretary and foreign Secretary sees a gulf between a core EU and periphery EU countries

Merkel praises reforms but warns of tough road ahead as IMF says Greece likely to miss key debt targets in 2011 bailout agreement.

Prime minister says vote is most sensible way of reaching new settlement with EU.

Shareholder revolt on senior executive pay and bonuses forcing legislation changes around world.

Energy regulator Ofgem warns of blackouts and price hike as a number of coal and oil fired plants face closure to comply with EU legislation on carbon emissions.

Tun Musa Hitam tells IBTimes in exclusive interview eurozone crisis unfurled because West wanted the good life.

ECB hold its key lending and deposit rates unchanged as it awaits a decision from Spain on a formal European Union bailout.