David Cameron: 'British economy is getting worse as euro crisis goes unresolved'

The British economy is getting worse “every day” that the euro crisis goes unresolved, David Cameron has warned, as he told European leaders that the “world cannot wait” any longer for a rescue package to be agreed.

Italy Five-Year Yield Tops 7%, Berlusconi to Quit

Italian bonds slumped, driving the five-year note yield to more than 7 percent for the first time since the euro was started in 1999, after LCH Clearnet SA raised the deposit it demands for trading the nation’s securities.

Berlusconi's Main Ally Tells Him to Quit

Italian Prime Minister Silvio Berlusconi, under growing pressure to resign, suffered a potentially fatal blow on Tuesday when his main ally, Northern League party chairman Umberto Bossi, called on him to go. Berlusconi faces a crucial vote in parliament on Tuesday that could seal his fate.

RBS takes £142m hit on Greek bond portfolio

The spectre of the sovereign debt crisis cast a pall over Royal Bank of Scotland's third-quarter results yesterday when the bank admitted that it had taken more hits on its Greek bond portfolio and had sold most of its Italian debt.

Greek PM faces crucial confidence vote

Greek Prime Minister George Papandreou faces a parliamentary vote of confidence on Friday, one day after scrapping a controversial referendum that had angered world leaders who are trying to formulate a bailout fund for the cash-strapped country.