Europe turned its sights on Tuesday on the controversial trade in insurance against sovereign loan defaults, the latest consequence to arise from market panic over spiralling Greek debts. European Commission chief Jose Manuel Barroso told the EU parliament in Strasbourg that commission regulators "will examine closely the relevance of banning purely speculative naked sales on Credit Default Swaps (CDS) of ...

Europe sought on Wednesday to outline a new economic strategy for the next decade but first had to reassure Germany's all-powerful chancellor it would tighten budget rules amid a Greek debt crisis. The head of the European Commission, the executive that runs the 27-nation European Union bloc on a day-to-day basis, said agreed rules limiting national overspending should be ...