In a worrying sign for the resolution of the eurozone crisis, its biggest economy, Germany, experienced a sharp contraction in economic growth for the last quarter of last year.

THE 59-year-old German economist just appointed by the Government to investigate the cause of Ireland’s banking crisis, is known in Brussels as a straight-talker.

US President George Bush today seemed resigned to the possibility that World Bank President Paul Wolfowitz could lose his job over conflict-of-interest charges involving his girlfriend.