Germany will hit a record surplus this year but it will no longer be the biggest in the world

Germany’s current account surplus will likely hit a new record of €250 billion euros in 2015, but it will lose the top spot to China, the Ifo think-t(...)

IMF managing director Christine Lagarde gestures next to EU economic affairs commissioner Pierre Moscovici, as finance ministers and central bank governors gather for a group photo during the G20 meeting  in Ankara. Photograph: Adem Altan/AFP/Getty Images

Finance ministers from the G20 nations have insisted the global economy has nothing to fear from a China slowdown as they tried to dispel the pall (...)

IMF managing director Christine Lagarde: better to make sure that the Fed's data are absolutely confirmed. Photograph: Valentyn Ogirenko/Reuters

The US Federal Reserve should not rush its decision to raise interest rates and should move only when it is sure the decision is unlikely to be revers(...)

World stocks and commodity prices tumbled on Tuesday, as poor Chinese data saw fears about its economic health intensify. Photo: Reuters

World stocks and commodity prices tumbled on Tuesday, as poor Chinese data saw fears about its economic health intensify. After a relatively upbeat fe(...)

 Angela Merkel: ‘The issue of asylum could be the next major European project, in which we show whether we are really able to take joint action,’ she told ZDF public television. Photograph: Jürgen Detmers/AFP/Getty Images

Europe’s growing refugee crisis will prove a greater test for the bloc in the long term than the standoff over Greece, according to German chancellor(...)

Greece bailout key moments: The replacement of the controversial Yanis Varoufakis as finance minister by Euclid Tsakalotos was a key factor in the change of mood in the talks. Photograph: Jasper Juinen/Bloomberg

So the eurozone has agreed the €86 billion third Greek bailout. Here are the five stand-out points in the deal which was announced late on Friday afte(...)

 IMF chief Christine  Lagarde on Friday night said in a statement: “I remain firmly of the view that Greece’s debt has become unsustainable and that Greece cannot restore debt sustainability solely through actions on its own.” File photograph: Stephen Jaffe/EPA

Greece’s debt remains unsustainable, the International Monetary Fund chief Christine Lagarde said Friday night as euro zone finance ministers approved(...)

Greek finance minister Euclid Tsakalotos  shakes hands with German counterpart  Wolfgang Schäuble at the start of the  special Eurogroup meeting in Brussels. Photograph: EPA

Finance ministers of the euro single currency group have approved the first €26 billion of a vast new bailout package to help rebuild Greece’s economy(...)

 Protesters from the Communist-affiliated trade union PAME at an anti-austerity demonstration  in Athens on Wednesday.  The parliamentary spokesman for the  Syriza party urged it  to unite behind a new funding agreement, saying the country wanted a full bailout immediately rather than a bridge loan. The placard reads,  “No to layoffs. Steady and permanent jobs for everybody”. Photograph:  REUTERS/Yiannis Kourtoglou

The dust has barely settled on the rancorous “agreement” reached some three weeks ago between the Greek government and its European creditors and the (...)

Greek prime minister Alexis Tsipras: argues that Greece is now front-page news and has been presented in “a positive light”. Photograph: Kostas Baltas/Reuters

Greece will not implement reform measures beyond those agreed at an emergency summit earlier this month, prime minister Alexis Tsipras has said, amid(...)