Seven reasons the world's stock markets are falling

European markets are in panic mode with all major indices down sharply. It follows a widespread sell-off on both sides of the Atlantic on Wednesday.Here are seven reasons why investors are so nervous:

Schaeuble proposes scrapping Germany's 'solidarity tax': regional press

(Reuters) - German Finance Minister Wolfgang Schaeuble has proposed scrapping the "solidarity tax" that supports the country's poorer eastern states when it expires in 2019, a German newspaper reported on Tuesday.

Draghi flags ECB action next Thursday

FORTUNE -- European Central Bank President Mario Draghi dropped his clearest hint yet that the bank will take action next Thursday to ward off the threat of deflation and support the euro zone's faltering economic recovery.

German public sector unions win big pay hikes for 2014, 2015

(Reuters) - The German government and trade unions have agreed to a 3 percent wage increase for some 2.1 million public sector workers this year and a 2.4 percent pay rise next year, Verdi union leader Frank Bsirske and the government said on Tuesday.

Eurozone business activity rises but France lags: PMI data

BRUSSELS: Business activity in the 17-nation eurozone ticked up in December, but the recovery is uneven and weak French data of particular concern, a key survey showed on Monday.

Germany may see higher tax revenues, could play role in talks

BERLIN: Germany's tax revenues are likely to rise more than expected in 2013 and beyond, newspapers reported on Saturday, potentially giving the new government financial leeway and playing a role in coalition talks focused on the economy and energy.

EU backs new joint banking supervision

LUXEMBOURG: European Union officials on Monday approved the creation of a centralized banking supervisor, even though they still squabbled over the next steps in the bloc's quest to stabilize its financial system.

Economic powerhouse Germany grapples with global role

Chancellor Angela Merkel has been thrust into leading Europe back from the financial brink, but Germany remains reluctant to take on global clout to match its economic prowess.

Eurozone: Recession over, but recovery's roots still shallow

LONDON: The cheery freeze frame of the euro zone economy last quarter is no guarantee of a happy ending to what has been a horror movie for most of the single currency bloc since the onset of the great financial crisis.

Next major struggle for world economies: Whether taxes on personal wealth should rise

If you'd like to know where American political debates are headed, the data suggest a simple answer. The next major struggle - in economic terms at least - will be about whether taxes on personal wealth should rise - and by how much.

Experts offer Angela Merkel tips on how to cheer up the Germans

BERLIN: "Happiness experts" from all over the world offered Germany's Angela Merkel tips on Wednesday on how to cheer up her citizens, often stereotyped as prosperous worriers who view their glasses as half empty rather than half full.

Germany wants swift progress on EU banking union

BERLIN: Germany wants to push ahead with a European banking union, a finance ministry spokesman said on Wednesday, possibly in two stages as EU treaty change would be required to create a Europe-wide banking resolution authority.

France, Germany seek to finesse growth vs rigor divide

(Reuters) - The finance ministers of France and Germany sought on Thursday to play down differences over the euro zone's economic policy mix, saying budgetary rigor and growth were not incompatible.

Euro zone in reverse, China speeds up

LONDON: The euro zone's economic downturn deepened this month, even before Cyprus' bailout troubles, but China's factories took a completely different path and moved up a gear, business surveys showed on Thursday.

Germany sees no quick deal on Greek aid: Wolfgang Schaeuble

HAMBURG: German Finance Minister Wolfgang Schaeuble said Thursday he did not expect any quick deal on aid to debt-mired Greece with its international creditors.

Asia stocks up on mildly positive US data

BANGKOK (AP) — A pair of positive U.S. economic reports helped prod Asian stock markets higher Thursday. A report showed U.S. service companies grew last month at the fastest pace in six months.

Save The Eurozone! Restructure Italy, Get Germany To Pay, ECB To Backstop

With the European sovereign debt crisis spilling into core members, as evidenced by Germany’s failed bond auction last week, and into the private sector, there appear to be three key steps needed to save the Eurozone, as NYU economist Nouriel Roubini and Poland’s Foreign Minister Radoslaw Sikorski explained in op-ed pieces on Tuesday.