Finance chiefs of the world's 20 leading economies are ringing alarm bells over the US fiscal cliff and Europe's debt woes at a meeting in Mexico this weekend as they look to push back deficit reduction targets to help
The European Central Bank has agreed to launch a new and potentially unlimited bond-buying programme to lower struggling euro zone countries' borrowing costs and draw a line under the debt crisis.
Seeking to back up his July pledge
Tunisia aims to achieve 4.5 per cent economic growth in 2013 from 3.5 per cent expected this year, official media has reported, as the North African country grapples with the effects of last year's revolt and Europe's debt crisis.
Joblessness in the euro zone rose to a new record high in May, pushed up by lay-offs in France, Spain and even stable Austria, as the 2-1/2 year debt crisis continued to eat away at the currency bloc's fragile economy.
Around 17.56 million
Brent crude oil fell more than $1 a barrel on Wednesday, pressured by concerns about the lack of progress on a plan to tackle Europe's debt crisis.
Brent was down $1.08 at $91.94 per barrel. US crude was down 56 cents at $78.80.
Voting opened on Sunday in a Greek election that could decide whether the heavily indebted country remains in the euro zone or heads for the exit, potentially unleashing shocks that could break up the single currency.
In an election fought
Brent futures rose towards $98 on Friday, extending gains after producer group Opec agreed to keep its output target unchanged for the second half of the year, although uncertainty surrounding Europe's debt crisis capped further advances.
Crude oil futures fell below $98 a barrel on Tuesday, extending losses due to fears that the euro zone debt crisis will worsen and hurt the global economy, threatening growth in oil demand.
Optimism over a bailout for Spain's troubled
The UAE and other Gulf countries could face major financial repercussions if the euro zone debt crisis spreads from the bloc's peripheral states to its core and infects global markets, the International Monetary Fund said.
Risks are partic