Eurozone

Investment veteran Jim Rogers has branded US treasuries as the one of the last remaining asset bubbles left in the world.

Britain has not joined with other European countries to provide 150bn euros (£125bn; $194bn) to the International Monetary Fund(IMF).

PAY IT OFF OR WRITE IT OFF

THE EUROZONE

As 2011 draws to a close, it would be nice to report on some sort of conclusion to the eurozone crisis.

Head of the International Monetary Fund (IMF) Christine Lagarde has warned the world economic outlook is "gloomy" and no country is safe from rising risks.

George Soros' fund has purchased around $2bn of European government bonds previously held by collapsed brokerage MF Global, according to reports.

Prime minister David Cameron has caused the EU to fracture after refusing to sign up to a new treaty over concerns about financial services regulation.

Shares in European financials have dropped in late trading as the latest European Banking Authority stress tests said the industry must raise €115bn in capital by June 2012.

The FTSE 100 is down 1.2% and US markets have also opened lower as investors' hopes for a positive outcome from Friday's EU summit begin to dwindle.