GERMAN chancellor Angela Merkel backed Mario Draghi yesterday to become the next European Central Bank president, clearing the way for the Italian to succeed Jean-Claude Trichet from November.

Turkey’s prime minister has urged the United Nations not to impose sanctions on Libya, warning today that the Libyan people would suffer most, not Muammar Gaddafi’s regime.

Clapping solemnly, dignitaries in Norway paid tribute to Nobel Peace Prize winner, imprisoned Chinese dissident Liu Xiaobo – with an empty chair.

THE Greek government is expected to call on a portion of the joint eurozone-International Monetary Fund loan of €45 billion later this week if they fail to raise money from the markets today at an acceptable rate.