G20

The German Chancellor, Angela Merkel, has confessed that there is no deal on the table to fund the IMF or a Eurozone firewall which has sent markets tumbling across the world.

IMF is monitoring Italy over its long delayed plan of reforms of pensions, labour markets and privatisation, EU Commission President Josè Manuel Barroso said on Friday. Under pressure from financial markets and European peers, Prime Minister Silvio Berlusconi agreed to allow International Monetary Fund to oversight the country's progress to overhaul its debt crisis.

With the attention of world leaders firmly on Greece, the talks at the G20 summit in Cannes appear to have hit a brick wall, according to reports.

The prime minister, David Cameron, faces yet another rebellion in the Commons – this time over the use British taxpayers’ money to boost the International Monetary Fund (IMF), a fiscal reserve that supports ailing economies such as Greece.

European and world leaders at the G20 will discuss the prospect of an EU without Greece having come to terms for the first time that a Greek default is a real possibility.

Tensions between the US, its allies and Iran are mounting following a string of reports saying that the U.S. are considering attacking Iranian nuclear facilities, with the potential support and participation of both the UK and Israel.

Silvio Berlusconi is feeling the pressure of a financial and political crisis as six former parliamentary loyalists sign a letter calling for a new government amid controversy over the cabinet's economic reform plan.

The breaking storm of the eurozone financial crisis has put the brakes on the publishing date of the Italian premier's "True Love" album.

World leaders are burning the midnight oil on Wednesday, in an effort to end the Eurozone crisis. They have collectively made it clear saving the Euro is more important than the outcome of the Greek referendum.

Greek Prime Minister George Papandreou has decided to go ahead with his decision to conduct the referendum to decide on his country's future with European Union, brushing aside the market turmoil caused by his announcement Monday as "short lived."

Labour’s leader, Ed Miliband clashed with the prime minister, David Cameron on the UK economy but avoided asking anything on the Eurozone issue.

The G20 Summit, starting November 3, has been plunged into confusion as the shock announcement of a Greek referendum on the Eurozone bail-out has sparked anger among world leaders and confusion on the world markets.

Prime Minister George Papandreou's shock announcement Monday night that Greece's bailout plan will be put to referendum has been coldly received by German Chancellor Angela Merkel and French President Nicolas Sarkozy, bringing accusations the move will intensify the euro zone crisis.

In accordance with promises to kick-start infrastructure projects and revive the economy, David Cameron, Prime Minister of the United Kingdom, has given the thumbs-up for two power plants in Yorkshire, which should create 1,000 construction-related jobs, the BBC reported. Meanwhile, in a strong move to recognize gay rights, Britain will contemplate withholding aid from countries that do not reform the law banning homosexuality.

Even a best case scenario at the landmark EU summit “wouldn’t be enough to avert the financial crisis,” a financial analyst said today, just moments before the summit were set to begin.

If the Greek debt is cut by as much 60 per cent, one of the solutions to the debt crisis proposed by EU leaders at Wednesday's summit, it could be disastrous for European banks, according to the former Chancellor of the Exchequer Lord Lamont.

Shares in British banks were up on the FTSE 100 in morning trading as investors appeared to be buoyed by the promise of decisive action on the eurozone debt crisis.

The downgrading of Spain's credit rating on Friday is likely to stoke fears of a Eurozone debt crisis at a summit of G20 financial chiefs in Paris.

Shares in British banks were mixed on the FTSE 100 in morning trading after ratings agency Standard & Poor's downgraded Spain's credit rating.

The FTSE 100 bounced back Tuesday amid hopes that the International Monetary Fund is soon to agree a package to resolve the debt crisis.

ust a few days after the 2011 G8 summit in Deauville, Oxfam warns that the prices of staple foods will more than double in 20 years unless world leaders take action to reform the global food system.According to the organisation's forecast, by 2030, the average cost of key crops will increase by between 120% and 180% and insists that half of that increase will be caused by climate change.In its newly published report, "Growing a better future", the charity calls on world leaders ...