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Economy - International

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http://www.reuters.com, By Nia Williams

The euro hit a four-month low against the dollar and 3-1/2 month trough versus the yen on Friday as concerns about a chaotic Greek exit from the euro zone and instability in the Spanish banking system fuelled demand for safer currencies.

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The Guardian

The British government is making urgent preparations to cope with the fallout of a possible Greek exit from the single currency, after the governor of the Bank of England, Sir Mervyn King, warned that Europe was "tearing itself apart".

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www.ft.com

Shares in Bankia, the Spanish bank that was part-nationalised last week, plunged by more than a quarter on Thursday morning, after a report that customers had withdrawn €1bn from the bank over the past week.

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http://govtslaves.info, JeeYeon Park

Stocks faded in the final hour of trading Tuesday to finish lower following news that Greek depositors withdrew 700 million euros from the nation’s banking system and after Greece’s leaders failed to agree on a coalition government.

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www.telegraph.co.uk

Europe’s financial crisis lurched into a perilous new phase as dire predictions emerged of a collapse in Greece’s economy, with a run on its banks bringing an inevitable end to its membership of the euro.

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www.telegraph.co.uk

As Greece erupts, Italy is moving into the eye of the storm. Its economy is contracting at speeds not seen since the depths of the slump in 2009 as draconian austerity bites, greatly increasing the risk of social revolt and a banking crisis.

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http://www.globalresearch.ca, by Thomas Sablowski

The crisis is not relinquishing its grip on Europe. From autumn 2008 to early 2009 the world market experienced the deepest slump in economic output since the Second World War.

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reuters.com, By Dave Graham and Tomas Sarmiento

multibillion dollar offer by Mexico's Carlos Slim to raise his stake in a Dutch telecoms firm may mark the start of a push to expand his reach into Europe, where a debt crisis is opening up opportunities for the world's richest man.

www.universityofreason.com/a/29887/KWADzukm