Speaking in Brasília at a joint press conference with U.K. prime minister Gordon Brown, Brazil's president Luiz Inacio Lula da Silva blamed the global economic crisis on white people.

The European Union's Czech presidency sharply criticized Washington's efforts to combat the financial crisis a week before world economic powers are meeting to discuss the issue in London. The remarks come amid worries a separate political crisis in the Czech Republic may undermine its EU leadership.

Barack Obama in a very rare Op-ed, published today called the global leaders to act together to heal the global economy. However, how many people know what is an Op-ed?

The President of the United State of America Barack Obama is calling for world leaders to take "bold, comprehensive and coordinated action" to trigger economic recovery and avert future crises.

Europe and the world must resist protectionism during the global economic downturn, the PM and EU Commission President Jose Manuel Barroso said during a joint press conference at Downing Street today.

The finance ministers of world's top 20 richest countries meeting in UK disagree if more government spending is needed to stimulate economy. The meeting includes Finance ministers from US and Europe.

Dubai was emerging as an economic power. Now it too struggles with unemployed workers. Once rising city is now shrinking because of the global falling economy.

In a commentary titled I have fallen into recession’s web of fear FT columnist Lucy Kellaway writes that the internet has created a global psyche and that sitting in front of your computer all day feeds your anxiety.

The newly formed Icelandic coalition, interm government will take office today, according to a coalition leader. The new government will also include a new prime minister, Jóhanna Sigurðardóttir, the country's and the world's first openly gay prime minister. A commissioner in Brussels has suggested that Iceland could be fast tracked to join the European Union (EU) by 2011.

International Labor Organization, the United Nations labor agency said that in the upcoming months there will be 50 million more unemployed in the world due to the global economic decline.

Maria Bartiromo just few minutes ago wrapped up a very interesting discussion at the World Economic Forum in Davos which basically concluded that the fundamental stupidity and publicly held general beliefs led to this global financial and economic crisis.

Iceland's coalition government resigns after the economy goes bankrupt. Thus Iceland becomes the first casualty of the falling global economy.