Germany's Hans-Gert Pöttering has been at the head of the European Parliament since January 2007. He explains why European states should pull together to find a common solution to the financial crisis. (Part 1)
European Central Bank president Jean-Claude Trichet tells FRANCE 24 that Europe needs to find its own solutions, and that to follow the US example would be naïve.
Billion-dollar bailout schemes and major bankruptcies have sent taxpayers and traders reeling with shock as global banking systems teeters on the brink of collapse. Is this the end of global capitalism as we know it?
Top finance officials from rich and developing countries meeting in Scotland Saturday agreed that it was too early to lift emergency stimulus measures and new frameworks were needed to coordinate economic decision-making.
British Prime Minister Gordon Brown urged G20 finance ministers gathered in St Andrews to urgently consider a financial transactions levy on banks to make them more accountable to society.
The European Central Bank has decided to leave interest rates at the historical low level of 1%. The Bank of England has mirrored this move and has also decided to keep interest rates on hold at 0.5%.
The British government will sharply shake up the banking sector by selling off assets from RBS and Lloyds to form new banks. The government will provide 30 billion pounds to support the changes. HSBC, meanwhile, is to axe 1,700 jobs.
The struggling Royal Bank of Scotland has announced it is planning to cut 3,700 jobs across its retail operations in Great Britain, it announced on Monday.
The CIT Group, one of the largest small-business lenders in the United States, filed for bankruptcy on Sunday to mark the fifth-largest corporate bankruptcy in the United States and the first firm to do so after receiving government bailout funds.
