Economics

France is drawing up plans to create a breakaway organisation of eurozone countries with its own treaty, parliament and headquarters.

Eurozone leaders need to act within the next few days or it will be "game over" for the euro, warned Kames Capital's Phil Milburn.

Patrick Evershed said he raised concerns with the FSA about allegations FSA bonuses are in part dependent on them having good relationships with institutions, in the latest twist during his employment tribunal.

Investment veteran Jim Rogers has said he is 100% sure the world will face another financial crash prompted by the eurozone debt crisis, adding this time it will be worse than 2008's collapse.

The European Union has slashed its 2012 growth forecast for the eurozone by 1.3% as the European Commissioner warns the risk of a new recession has increased.

The Bank of England (BoE) has kept interest rates at the historic low of 0.5% for the 33rd straight month, and held fire on additional quantitative easing measures after pumping an extra £75bn into the facility last month.

Patrick Evershed has claimed investors in New Star's Property fund lost millions of pounds after the group continued to advertise the fund despite warnings from its property team that prices were over-inflated.

Markets across Europe recovered from early losses on Thursday despite a new warning from the EU Commission that the eurozone may fall into recession next year.

Credit ratings agency Moody's has given the European Financial Stability Facility (EFSF) 10-year €3bn benchmark bond an Aaa rating.

Fears of France and Spain being the next to suffer in the eurozone debt crisis intensified as 10-year bond spreads reached euro-era highs above German yields yesterday.