October 31, 2012

IMF chief Christine Lagarde urges further debt reduction from leading economies

BERLIN: The head of the International Monetary Fund says the world's leading economies must continue to cut government spending despite an overall situation of only "tepid growth."

October 30, 2012

Greece says EU and IMF lenders refuse to concede on reforms

ATHENS: Greece's foreign lenders have refused to make any further concessions on changes to labour laws contested by a junior coalition partner, the country's finance minister said on Sunday, prolonging an impasse on a crucial austerity package.

October 29, 2012

ECB's Draghi backs Schaeuble's "currency commissioner": Spiegel

(Reuters) - European Central Bank Chief Mario Draghi has thrown his weight behind a proposal by German Finance Minister Wolfgang Schaeuble to radically expand the powers of the European Union's monetary affairs commissioner.

October 28, 2012

Hungary government to take on $2.8 billion of municipal debt

BUDAPEST (Reuters) - Hungary's government will take over 612 billion forints ($2.8 billion) of local government debt in a bid to give debt-laden municipalities a fresh start, Prime Minister Viktor Orban said on Saturday.