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As markets energize again, oil prices soar

World oil prices soared on Tuesday, mirroring the performance of global equities, as markets followed eurozone debt developments closely. Brent North Sea crude for delivery in November jumped $1.59 to $105.53 a barrel in London midday deals. New York’s main contract, West Texas Intermediate (WTI) for November, rallied $2.18 to…

World stocks surge on eurozone debt hopes

Global stocks rallied for a second day with a strong advance in Europe and Asia on Tuesday on signs that EU and world leaders are preparing a blockbuster response to the eurozone debt crisis. The euro steadied against the dollar as Greek Prime Minister George Papandreou headed for talks with…

Greece makes ‘superhuman effort’ to slash debt

Greece is making a “superhuman effort” to slash debt, Prime Minister George Papandreou said Tuesday as he prepared to meet German Chancellor Angela Merkel for crunch talks on tackling the eurozone crisis. Papandreou hit out at Greece’s critics, saying that to single out Athens for “punishment and scorn” was anything…

Eurozone debt crisis could rip E.U. apart: officials

The eurozone debt crisis now threatening banks could destroy six decades of post-war European integration, top EU officials warned on Wednesday. The dire warning that post World War II Europe risks disaster came shortly after Moody’s credit rating agency downgraded two French banks and as financial markets increasingly calculate the…

Merkel calls for calm as Obama urges action on euro

German Chancellor Angela Merkel tried on Tuesday to reassure volatile markets that the eurozone will stay intact after US President Barack Obama urged greater efforts to solve the EU debt crisis. But the euro dropped against the dollar and European stock markets fell as concerns over Greece outweighed news that…

Merkel urges Germans to be patient with Greece

German Chancellor Angela Merkel called on her compatriots to be patient with Greece in its current struggle to overcome a severe debt crisis. “What hasn’t been done in years cannot be done overnight,” Merkel told the Sunday edition of Berlin’s Tagesspiegel newspaper, pointing to Germany’s bid to spruce up infrastructure…

Battle under way for soul of ‘United States of Europe’

Star economists and former national leaders now happily argue that resolving the eurozone debt crisis will eventually demand the surrendering of sovereignty to create a fully-fledged United States of Europe. However, as they press for the political integration they say is needed to prevent the currency union collapsing on an…

Chancellor Merkel’s party crushed by left in her own home state

German Chancellor Angela Merkel’s party suffered an electoral setback in her home state Sunday, two years before a national vote and amid mounting criticism over her handling of the eurozone crisis. Key opposition parties took votes from her conservative Christian Democrats (CDU) in the poll, the latest in a string…

Gulf leaders demand end to Syrian bloodshed

Gulf Arab states on Saturday turned up the heat on Damascus, joining a growing chorus of pressure after Syrian security forces shot dead at least 22 people as tens of thousands staged anti-regime protests. The six-member Gulf Cooperation Council called for an “immediate end to violence… and bloodshed.” Its statement…

Germany opens taboo-shattering Wagner festival

BAYREUTH, Germany — Germany’s 100th Wagner opera festival kicked off here Monday in an edition that will include a taboo-busting performance by an Israeli orchestra. The annual tribute to the works of the 19th-century composer, a fervent anti-Semite who later inspired Nazi leaders, will include for the first time a…

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