Eurozone

WEALTH MANAGERS

Ireland fell back into recession in the last quarter of 2011, according to official figures released on Thursday.

BUDGET

Eurozone finance ministers could potentially raise the combined lending power of its bailout funds from €500bn to near €700bn.

PIMCO's chief executive Mohamed El-Erian described Chancellor Merkel's decision to insist on fiscal reform as a ‘burden' to an already challenged political construct that is trying to restore order.

Eurozone finance ministers have signed off a second bailout for Greece, paving the way for the first €130bn package this month that aims to finance the country until 2014.

Greek bonds issued following Friday's €206bn debt exchange are trading at distressed levels, suggesting the deal has failed to reassure investors.

JAPAN

A 'disorderly' default in Greece could cause more than €1trn (£833bn) damage to the eurozone, a confidential report has warned.

The €1trn in cheap loans provided by the ECB since December is expected to be only the start of a wave of liquidity measures that store up problems for the eurozone.