Plans underway by Angela Merkel's Chancellory could see the power to deal with struggling banks move from national to European level.
The European Union said it will assist if Cyprus contributes about €7-billion in revenue.
The full extent of garnishee abuse is not known but a case study by law firm Edward Nathan Sonnenbergs has set alarm bells ringing.
Author Paul Krugman says ending this recession should be easy but we seem to be making it painful, writes Decca Aitkenhead.
European leaders have agreed to join their fiscal fortunes in order to stop a crippling debt crisis, save the euro currency and prevent further chaos.
Oil prices have moved higher to almost $102 a barrel in Asia in anticipation of Europe's interest rate decision and debt crisis summit.
These days the news is full of dire warnings about another financial meltdown emanating from the sovereign debt crisis in Europe.
The Greek PM and opposition have agreed on the formation of a new unity government in a bid to break a deadlock and pave the way for an EU bailout.
South Africans will have to tighten their belts, knuckle down and work together if we are to weather the economic storms ahead, says Pravin Gordhan.
As the economic clouds darken over Europe and the United States, there are concerns a double-dip recession in the West could cast a shadow over Africa
The rand, thanks to its volatility in recent days, has quickly become one of the worst performing global currencies.
The Reserve Bank kept interest rates steady on Thursday, after a sharp overnight depreciation of the rand and amid darkening expectations.
As debt troubles in Europe and the United States keep global markets jittery, foreign investors appear to be shying away from South African bonds.
As markets fluctuate in the wake of the world's greatest economic turmoil since the Great Depression, investors are frantically seeking a safe haven.
China and the US have urged Europe's leaders to prevent the eurozone debt mess from spreading -- which is now also threatening Italy.
The eurozone's leaders need to show markets they are taking responsibility for its debt crisis, says US President Barack Obama.
Spain's ruling and opposition parties bridged bitter rivalry and struck a deal to cap the long-term public deficit and fend off fears of a state debt.
Financial market pressure on the euro zone eased a little this week as Italy's borrowing costs fell and bank shares stabilised.
Businesses' aversion to spending in the 'real economy' has many causes, experts say.
While the financial world worries about a double-dip recession South African banks reported a decrease in bad debts.