Athens erupted into violence as traditional May Day festivities turned into a bitter protest against draconian austerity measures.
German Chancellor Angela Merkel said on Wednesday Greece’s international bail-out must be accelerated for the sake of the entire eurozone.
Greece put itself and the EU in uncharted waters this week by becoming the first eurozone country to ask for a loan lifeline involving the IMF.
G20 leaders said they had secured a economic recovery but were wary of overconfidence as Greece’s crisis put the focus on worsening public finances.
Goldman Sachs is preparing to defend itself against the US government allegations by arguing that it was unsure where housing prices were headed.
European leaders sent out conflicting signals at the weekend over aid to Greece, with Angela Merkel urging Athens to solve its debt problems alone.
The European Union’s finance executive on Friday called for banks to pay into a fund that could be drawn upon in case of collapse.
Lehman Brothers Holdings used accounting gimmicks and had been insolvent for weeks before it filed for bankruptcy in September 2008.
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/ 29 January 2010
Glenn Stevens, the governor of the Reserve Bank of Australia, is an accidental hero of the global financial crisis.
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/ 25 January 2010
Workers have yet to see any proof of a recovery from the recession, despite what academics and the media are saying, Cosatu says.
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/ 22 January 2010
President Barack Obama has unveiled plans to limit the size and scope of US banks and financial firms in a new offensive against Wall Street excesses.
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/ 21 January 2010
US President Barack Obama will propose stricter limits on financial risk-taking on Thursday in a move that may recall Depression-era curbs on banks.
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/ 14 January 2010
President Barack Obama will on Thursday unveil a fee on 50 top financial firms to recoup billions of taxpayer dollars used to bail out the industry.
A US government report on Friday is expected to show the economy stopped shedding jobs last month for the first time since it fell into recession.
Iceland’s president rejected a Bill to repay Britain and The Netherlands more than $5-billion their savers lost when Icelandic banks collapsed.
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/ 31 December 2009
Iceland’s Parliament approved an amended Bill on Wednesday to repay more than -billion lost by savers in Britain and The Netherlands.
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/ 23 December 2009
December 31 1999, and I couldn’t have been further away from a computer … about half-way up the Mozambican coast.
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/ 28 November 2009
The biggest mystery of the Dubai debt crisis is not why this desert dream has turned into a nightmare, but why it took so long.
The IMF raised growth forecasts on Thursday as the global economy pulls out of a nosedive, but warned recovery faces stiff headwinds.
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/ 18 September 2009
Africa needs to urgently improve its cooperation across the continent, Minister in the Presidency Trevor Manuel said on Friday.
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/ 16 September 2009
The recession in the United States "is very likely over" but its economy remains weak, Federal Reserve chairperson Ben Bernanke says.
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/ 15 September 2009
United States President Barack Obama bluntly warned on Monday that some Wall Street bosses were ignoring lessons of the financial crisis.
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/ 3 September 2009
<i>Pittsburgh Post-Gazette</i> starts members’ club offering readers extra content, access to journalists and special events.
Despite nationwide financial misery, President Barack Obama has a new message for Americans: the pulse of the sickly US economy is quickening.
Diamond Giant De Beers has cut its global workforce by 23%, or 4 700 positions, this year so far.
The Congress of South African Trade Unions voiced anger on Thursday over a surprise central bank decision to keep interest rates on hold.
SA’s power regulator on Thursday granted Eskom a 31,3% tariff rise for the 2009-10 financial year, falling just short of the firm’s request for 34%.
United Nations chief Ban Ki-moon called for a reform of international financial institutions on Wednesday at the start of a UN conference.
The worst of the economic crisis is not over but there are signs that the world has started to crawl out of recession, the IMF chief said on Monday.
The world’s rich nations are expected on Saturday to commission a study on how to unwind policies to rescue their economies
African governments should be planning for the recovery that would follow the current global economic slump, President Jacob Zuma said on Wednesday.
Economic reforms that helped drive Africa’s fastest growth for decades appear to be stalling in the face of the global crisis, a report shows.