Merkel calls for eurozone countries to surrender key tax-and-spend powers

Angela Merkel has called for the surrender of key national powers over tax-and-spend policies to Brussels by the 17 countries in the eurozone within three years in order to rescue and shore up the embattled single currency.

Greek exit would destabilise world economy: lobby

The head of the global banking lobby which handled the private debt write-off for Greece warned on Friday that if the country leaves the eurozone, the world economy would suffer badly.