The European Commission is looking at ways of increasing the EU's financial resources to fight the ongoing financial turmoil and avert a potential long period of recession across the continent, with high unemployment and low consumption.

Unemployment set to rise significantly in coming months as senior Government minister admits a recession is on the way.

Recession, stagnant wages, rising unemployment, financial meltdown...these are the issues that propelled Obama to victory and that demand answers now. There is no shortage of pledges either: but whether they amount to a coherent programme to meet the recession and financial meltdown is a different issue. Obama's economic programme was a blatant pitch to working class America: tax the rich mor...

As world leaders prepare for the G20 meeting in Washington to discuss ways to overcome the financial crisis, Europe's economy took another hit after its two heavyweights, Germany and the UK, reported negative growth and higher unemployment.

"In addition, one should not minimize the great economic achievements of the past 25 years in the form of rapid growth in world GDP, low world inflation, and low unemployment in most countries. Perhaps these achievements will be overshadowed by a deep world recession, but that remains to be seen. If the impact of this financial crisis on the real economy is not both very severe and very prolonged,...

I promised to write about the financial crisis this week.  I will try to highlight what the EU is doing to help alleviate the effects of the crisis. Of course citizens are concerned. Unemployment is growing, there are gaping holes in national budgets, GDP is in free fall and forecasts for the future are gloomy but

World leaders pledged to take all action necessary to halt the panic gripping financial markets and prevent the crisis from descending into a global depression.

The financial sector crisis has left governments with little choice but to bail out banks, lest the entire financial system collapses, yet these same banks were embarking on high-risk strategies while paying obscene bonuses only a few months ago. Understandably, this has given rise to calls for better regulation of financial markets. In Europe, which has an increasingly integrated financial

High Drama in High Finance This week has seen the world of banking turned upside down. Is it, as some have suggested, the end of an era of deregulation and enormous bonuses? Is the '2008 Financial Crisis' over, following unprecedented Government bailouts? Or is what amounts to "a de facto nationalization of the entire banking, insurance, and related financial system" only the beginning? "We’re i...

The world's leading economies were accused yesterday of abandoning millions of people to long-term unemployment by failing to organise a co-ordinated response to job losses in the way they confronted the financial crisis .