Italian Finance Minister Giulio Tremonti arrives at a press conference in Rome's Chigi palace, Premier's office, Saturday, Aug. 13, 2011. Italy's government has approved euro 45 billion ($64.12 billion) in cuts over the next two years to balance the budget by 2013 to meet demands of European Central Bank.  (AP photo/Riccardo De Luca)

Mourners push the coffin of Bano Abobakar Rashid, 18, the first victim of the shooting rampage at Utoeya to be buried, during her funeral at a church in Nesodden, near Oslo, Norway, Friday July 29, 2011.  (Lefteris Pitarakis/Associated Press)


World stocks hit five-week highs last Thursday as data on U.S. private sector hiring boosted optimism


German Chancellor Angela Merkel reacts as she attends a debate about a bailout package for Greece at the German parliament Bundestag in Berlin on June 10, 2011.



BERLIN — German Chancellor Angela Merkel said Saturday that it's important to avoid doing anything that could endanger the global economic upswing as Europe battles the debt crisis in Greece and beyond.


Former IMF chief Dominique Strauss-Kahn gestures during his bail hearing inside of the New York State Supreme Courthouse in New York May 19, 2011.  (Credit: Reuters/Richard Drew/Pool)


PARIS (Reuters) - Europe may miss Dominique Strauss-Kahn's leadership in its hour of need even more than will the International Monetary Fund and the French left.

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