Greek Prime Minister George Papandreou has expressed a strong concern over the nation's rising pressures of debt crisis, which is in turn affecting the stability of the euro zone.

The Prime Minister exclaimed that the country doesn’t need financial aids but solidarity from its European peers.

"Unfortunately, history has fully confirmed our worst fears. Our duty today is to forget about political costs and only think about the survival of our country ... Past policies make it necessary to proceed to brutal changes", he said.

Questions about the pace and sustainability of Europe's largest economy remains unanswered as German business sentiment slipped during the month.

The Euro, after edging back from an intraday high versus the Dollar, remains up 0.3% at $1.3646.

The Ifo Institute has hinted that the country's economic recovery should continue despite the unexpected fall in the confidence among German companies.

LCH. Clearnet, Europe's largest independent clearing house, has reported a net loss for last year due to a fall in exchange trading volumes, highlighting the increasing competitiveness of the post-trade business.

The loss reported by the firm was €91m (£79m), compared with a record profit of €219.8m after tax last year.

According to a Pfizer-sponsored survey, western Europeans spend an estimated 10.5 billion Euros on counterfeit medicines in a year. These medicines contain the wrong or even toxic ingredients that resulted in health threat worldwide, particularly in poor countries, according to the World Health Organization.

The most prescription-only drugs without a prescription are bought by Germans and Italians either by the Internet or on overseas trips, in nightclubs, in shops and via friends. One in five of the 14,000 people surveyed, equating to

A study conducted by the charity Action Aid warns that if the UK and Europe meet targets on increasing renewable fuel, then up to 100 million people in developing countries may go hungry.

European stocks dropped to weekly slump, as European finance chiefs failed to ease concern over deficits in Greece, Portugal and Spain.

National Bank of Greece SA and EFG Eurobank Ergasias SA, the countries' biggest banks, sank more than 3 percent. Aker Solutions ASA tumbled 8.3 percent after missing out on an order. Dexia SA surged 3.3 percent after saying it won't need to sell its Turkish unit or its asset-gathering business to win European Union approval for a taxpayer-funded bailout.

A report from the House of Commons Environmental Audit Committee is alarming that the European Union's Emissions Trading Scheme (ETS) has not been not successful in delivering required investment in the low carbon technologies.

The report appeals the government to strengthen the investment by initiating a minimum carbon price of €100 per tonne of CO2. Intensified by the recession, presently the carbon prices have disintegrated to €15 per tonne.