In depth coverage of Global Financial Crisis from Business Today
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Global Financial Crisis

Official figures show that the debt burden of the 17 European Union countries that use the euro have hit all-time highs in the first quarter despite austerity measures.

 
 
China's GDP growth slowed in the second quarter, as the Chinese leadership faced fresh challenges to stimulate and revamp the world's second-biggest economy.
The European Union is predicting that the recession in the 17 countries that use the euro will continue through 2013 with unemployment remaining at record levels.
China's economic growth slowed unexpectedly in the first three months of the year, fueling concern about the strength of its shaky recovery.
Unemployment across the 17 European Union countries that use the euro has struck 12 per cent for the first time since the currency was launched in 1999.
Banks across Cyprus remain locked after financial authorities extended the country's bank closure, fearing worried depositors will rush to drain their accounts.
 
 
The ECB's governing council meets once a month to decide on the bank's refinancing rate. That is the rate at which it loans money to private-sector banks.
Cyprus' lawmakers are voting on a multi-billion bailout agreement aimed at preventing the country from going bankrupt.
US President Barack Obama has proposed a $3.8 trillion budget that would raise taxes on smokers and wealthy Americans and trim Social Security benefits for millions.
Banks in Cyprus reopened to customers on Thursday, the first time in nearly two weeks, albeit with strict restrictions on transactions.
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