International Monetary Fund

Data shows Spain’s recession worsened after austerity measures hurt spending

Greek Prime Minister Antonis Samaras revealed to Le Monde that the country may sell off islands in a bid to meet Eurozone austerity demands

With Greece obliged to implement severe austerity measures, IBTimes looks at how ordinary people are paying the price.

Germany and France widely expected to snub Antonis Samaras plea for more breathing space.

Intensified eurozone woes, slowing demand and production, and rising costs hit miners and commodities firms.

Greek prime minister Antonis Samaras will try to persuade eurozone chief Jean-Claude Juncker for more time on bailout pledges.

Racist motive assumed in street murder by five men on motorbikes after earlier claims of assaults on Romanian and Moroccan men.

Syria conflict becoming increasingly complex as various players vie for power positions in post-Assad Syria.

Chancellor George Osborne under more pressure as Bank of England predicts near-zero growth for UK economy in 2012.

Around 6,000 illegal immigrants detained over the weekend in Greece

Treasury minister Danny Alexander has committed heresy by doubting the supremacy of credit ratings. Is the government preparing for a u-turn on fiscal stimulus?

Bank of England rate-setters on the monetary policy committee have held the rate and quantitative easing target as they await the impact of recent actions such as credit easing.

Far-right Golden Dawn party gives out free food in Athens' Syntagma Square - but only to Greeks with IDs proving their nationality.

Cathal Gilbert looks at 26-year reign of King Mswati III in Swaziland and asks what needs to happen for things to change.

On 25 July 2012 Britain's Office for National Statistics (ONS) issued its official estimate for the country's second quarter Gross Domestic Product (GDP). A contraction was expected by all and the range amongst economists was between -0.2 per cent and -0.4 per cent. The Telegraph's Angela Monaghan credited Vicky Redwood of Capital Economics with coming nearest and predicting the worst, at -0.5 per cent and so the ONS's -0.7 per cent came as a shock to everybody.

Despite the deepening UK recession, Bank of England rate-setters are unlikely to loosen their monetary policy further by slashing the base rate at their upcoming meeting.

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

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.

Citi also expects Britain to lose its AAA rating over the next two to three years due to the continued economic weakness.

The prime minister is in a bind. His chancellor has brought the government nothing but bad headlines over the recession-mired UK economy, but he will struggle to sack him - and here's why.

Prime Minister David Cameron and his Chancellor George Osborne face a nervous test of their core economic strategy

Britain is in the worst double-dip recession for 50 years as dreadful GDP figures reveal the true state of the UK economy. Here's what the analysts and economists had to say.

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

Euro falls to two-year low against dollar as Greece struggles to convince lenders and Spain's economy slides deeper into recession.

UK public debt is now at its highest rate against GDP in over forty years, as the double-dip recession takes its toll on the economy.

Final word on annual assessment of UK economy puts further pressure on Osborne's Plan A.

An IBTimes UK exclusive round-up of the most recent policy statements and rate decisions from the world's key central banks

Bank of England's monetary policy committee ignores calls from IMF and will not cut rate for months to see if policies working.

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...

CEO of world's biggest bond fund among names given to President Mohammed Mursi.