While there is no doubt that world economy is battling tough time, here comes another report which indicate that there are chances that Standard & Poors could reduce credit ratings across the euro zon

It has been revealed according to recent developments in the Eurozone crisis that the government of Slovakia has now cleared the way for the endorsement of changes for a sum of €440 billion.

Despite the rejection from Slovakia's parliament to expand the European Financial Stability Facility (EPSF), Germany made it clear that there would be no delay in resolving the long euro zone debt run

German Chancellor, Angela Merkel, has shown her support to the Mario Draghi, Governor of the Italian Central Bank, as the next President of the European Central Bank.

German Chancellor Angela Merkel’s junior association partner has charged her of having been “bamboozled” by France over development plans for the euro zone stability deal.

Yesterday the German press discharged the supposed Deauville deal as a “sham” and called into question by the Free Democrats (FDP), Dr Merkel’s junior coalition partner.

Angela Merkel, German Chancellor is supposed to have an effective conversation with French President Sarkozy and the Russian President Dimitry Medvedev on Saturday regarding the active co-operation with NATO in the settlement of different diplomatic issues.

In a clear support to the French idea of stopping trading in commodities, German Chancellor, Angela Merkelthrew said that tighter control in this area are needed.

This shows that there is deepening in the formation of an alliance in the eurozone regarding the same issues, at least that is what has happened till now between the top two economic powers of the area.

The relation between Germany and France are strained due to French claim that illegal Roma camps, which are over German land will be cleared by the authorities. An EU Summit has been dominated by the Roman issue.