: The new EU External Energy Policy: an important move - if it is not too late

With the adoption of its new External Energy Policy, the EU has finally made a first step towards its integration as a single negotiating bloc in the world energy market. As such the External Energy Policy could become an important factor in the global energy security picture and a possible geopolitical game-changer. However, it remains to be seen whether the big EU member states will be willing to subordinate their interests to the wider EU interest. The External Energy Policy has probably come five years too late, argues Alexander Mirtchev, President of Krull Corp. and Vice-President of the Royal United Services Institute for Defence and Security Studies.

Europe dodges recession

NEW YORK (CNNMoney) -- Stronger-than-expected growth in Germany was enough to help the European Union and the 17-nation eurozone avoid falling into recession for the second time since 2009 during the first three months of this year.

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China allows banks to lend more in bid to boost economy

China has cut the amount of funds banks have to hold in a reserve, in a bid to boost its economy.

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Spain moves to shore up banks

NEW YORK (CNNMoney) -- Spain announced another round of financial sector reforms Friday as the government seeks to restore confidence in banks hurt by the housing bust.

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Greek election: Syriza seeks anti-austerity coalition

The leader of Greece's left-wing Syriza bloc has begun attempts to assemble a government after the party that won the most votes failed to form a coalition.

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Amid Furor, Gains on Economy, Trade

BEIJING—China and the U.S. closed a two-day economic strategy meeting with several handshake agreements that observers called modest progress on the margins of a full-blown diplomatic dispute that overshadowed the gathering.

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Global policy review

Alexander Mirtchev