Berlin  - Economists appealed Thursday for European Union governments to mount a joint bail-out of troubled banks rather than each nation acting for itself when banks stumble.

"Last week's US experience showed that saving one bank at a time won't work. A systemic response is needed and in Europe that means an EU-led initiative to recapitalize the banking sector," they said.

The call to action was issued in Berlin by the DIW German Institute of Economic Research.

The 10 signatories included DIW chief Klaus Zimmermann and economists from the Italy, the Centre for European Policy Studies in Brussels, the London School of Economics and Harvard University.

Riga - Estonia's economy continues to stagnate after a decade of spectacular growth, according to official figures released Thursday.

In August 2008, industrial production decreased by 3 per cent year-on-year Statistics Estonia said.

Manufacturing production fell by 2 per cent owing to dwindling orders in domestic and external markets driven by a sharp drop in consumer demand as the effects of the global "credit crunch" make themselves felt.

One of the most telling figures was a 20 per cent reduction in beer production, while Statistics Estonia also noted that wood manufacturing, which is an important industry and major employer in Estonia "is endangered by a serious shortage of materials."

Frankfurt - Central banks pumped more dollars into the banking market Wednesday, and the European Central Bank (ECB) said it would supply as much liquidity as was needed to stop the financial crisis.

As part of the central banks' joint infusion of dollars, which began earlier in Japan, the ECB stepped up its offer of overnight money from 30 billion dollars on Tuesday to 50 billion dollars Wednesday.

The British and Swiss central banks also dumped dollars into markets to relieve strains. Commercial banks have been reluctant to lend to one another money in the crisis.

Strasbourg - Despite assurances by European leaders that their finance systems were stable, Europe may still need a massive rescue plan similar to the 700-billion dollar measure being voted on by the US Congress, OECD head Angel Gurria said Wednesday.

Speaking as he presented the annual report to the Parliamentary Assembly of the Council of Europe on the outlook for the world economy, Gurria said, "We have already seen the first troubled European banks being rescued in the United Kingdom, Belgium, the Netherlands and Germany.

London, Oct 1 : Europe’s human rights watchdog has expressed “considerable concern” about the prospect of terrorist suspects being held in police custody in the UK for up to 42 days.

The controversial law was passed by MPs in June, triggering the resignation of shadow Home Secretary David Davis.

The legislation must now go to a House of Lords vote scheduled for October 13, the Daily Express reported.

The report says that, even if it goes through, it should be obligatory to transfer terrorist suspects from police detention to prison if they are being held longer than 14 days.

Brussels - Inflation in the 15-member euro area fell to 3.6 per cent in
September, dropping for the second month in a row, according to
Eurostat's preliminary estimates Tuesday.

The European Statistical Institute does not offer a detailed breakdown
of the inflation figure in its flash estimates, which have been shown
to be reliable despite being based on early price information.

Euro area inflation had fallen to 3.8 per cent in August, thanks in part to an easing off of food and oil prices.