October 29, 2011

Record borrowing costs put Italy at centre of crisis

Fear made a swift return to the eurozone yesterday as Italy faced record borrowing costs in its first attempt to tap the markets since European leaders came up with new plans to rein in the sovereign debt crisis.

World stocks up on European rescue deal for Greece

World stock markets climbed again Friday, continuing to be buoyed by a European deal aimed at slashing Greece's massive debt and preventing the crisis from engulfing "too big to bailout" countries such as Italy.