The ECB could quite easily have taken all sovereign debt risk off the table, in the same way as the Bank of England has in the UK, by mopping up bonds without limit. Photo: Reuters Euro Is Facing Disintegration, Commission Warns -- The Telegraph
The euro faces 'disintegration' unless European governments do much more to work together, the European Commission has warned.
Olli Rehn, the economics commissioner, gave the warning as Mario Draghi, the head of the European Central Bank, criticised national leaders for a “lack of action” to help the single currency out of its crisis.
Spain remained at the eye of the financial storm yesterday, amid continuing fears for its banking sector.
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MIDDLE EAST
Syria set to become failed state:
Israeli commander.
UN chief gives
'Syria civil war' warning.
Syria: rebel army issues ultimatum
on UN ceasefire. Activists: Syrian troops shell Houla,
site of last week's civilian massacre.
Syria military intervention
would engulf Israel.
Worse case scenario
in Syria.
Israel returns the remains
of Palestinian bodies.
Iran cancels $2 billion dam deal
with China: report.
Israeli leaders skeptical of new diplomatic efforts
on Iran nuclear program.Enrichment
'not a step towards a bomb': Ahmadinejad. Cleanup at
Iran's Parchin site?
UN: Iraqi rights situation
still raises 'serious' concerns.
Deadly blasts
rock Baghdad.
Migrant hunting, smuggling
on Yemen-Saudi border.
ASIA
China begins new round of stimulus,
with caution.
Internal reports highlight threats
to Afghan police force.
"Hundreds detained" in Tibet
after self-immolations.
Court: Pakistani Dr. jailed for militant ties,
not helping CIA.
Kashmir rebel attack
wounds 7 Indian soldiers.Mass strikes across India
over fuel prices.
AFRICA
Nepal forms caretaker government
pending new elections.
Egypt election outcome makes
economic challenge tougher.
Kenya military says it has captured southern Somali town;
17 al-Shabab said killed.
DR Congo army mutineers sentenced
to death in absentia.
Nigeria gets foreign aid
to fight Boko Haram.
Sudan, South Sudan peace talks
yield progress slow.
Outrage as Zimbabwean dictator Robert Mugabe is
honoured by UN as a 'leader for tourism'.Report: Gunmen kidnap 2 U.S. tourists
in Egypt's Sinai region.
Days before Mubarak verdict, sons charged
with insider trading.
Adoption from Africa: Concern over
'dramatic rise'.
EUROPE
Pope's top aide at
centre of Vatican furor.
Spain faces 'total emergency'
as fear grips markets. Investors flee Spain as
financial crisis spirals.
Fears for european banks as
Greek depositors withdraw money.
Irish voting in
fiscal pact referendum.
Moody's downgrades Danske,
other Danish banks.
White House shrugs off
Polish apology demands.
AMERICAS
Bolivian politician takes refuge
at Brazilian embassy.
John Edwards walks free after
chaotic end to corruption trial.
Report: Chavez's cancer has
'entered the end stage'.
FARC ready for peace or war,
says French reporter.
Reporter criticizes FARC
for release as propaganda.
Mexico cartel drops
aerial leaflets against gov't.
Mexican cartel declares
war on Cheetos. Mexico protects PepsiCo subsidiary
after attacks.
Quebec government under pressure as Canada's
'casseroles protests' expand.
TERRORISM/THE LONG WAR
Al-Qaeda fighters clash
with Yemeni troops.
Azerbaijan 'arrested 40 and seized assault rifles and grenades
as it thwarted planned terror attacks on Eurovision'.Obama's drone war in Yemen may be Al Qaeda's
best recruitment tool ever.Pentagon: Al-Qaida still
enjoys Afghan haven.
ECONOMY/FINANCE/BUSINESS
Time bomb? Banks pressured
to buy government debt.
Morgan Stanley CEO
defends Facebook IPO conduct.
Virgin Galactic cleared for
rocket-powered test flights.
Oil set for biggest monthly drop in
three years on debt crisis.
Gold poised for worst monthly run in
13 years on European crisis.