The risk of further EU taxpayer-backed bailouts has been curbed by the EU.

MEPs have voted in favour of creating a new European authority which will be able to wind up or restructure failing banks.

The world’s supply of diamonds has been eroding over the last two decades.

Coupled with a sharp rise in demand from China’s burgeoning middle class, analysts believe the price of diamonds is set to go up.

Killings committed by the mafia in Italy have dropped by 80% over the last 20 years, according to the United Nations.

There was a high point in 1992 when nearly 350 murders were reported. This fell dramatically in 1993 and 1994, but was followed by spikes through the late 1990s.

Three former managers of Barclays Portugal, including its former President Peter Mottek, have been reinstated after an internal investigation conducted by the British parent company found them innocent of involvement in market rigging.

The problem Barclays now faces is that their high-flying employees’ jobs have been given to other people. The three can expect generous pay-offs funded by a red-faced Barclays in the UK.

The Cidade Lacustre project in Vilamoura takes another step towards a start date as the government this week gave the go ahead for the €1billion project destined to cover over 360 hectares, much of it agricultural land.

The project lies between Vilamoura Marina and Açoteias, Albufeira and side-steps normal planning requirements as it has been deemed of “relevant public interest” by the government.

The ‘technical reasons’ earlier cited for the extension of Portugal’s bail out period have been laid clear by the IMF which stated today that a letter from the Portuguese government sought this extension, which was granted.

Deputy Prime Minster Paulo Portas is sticking to May for an exit from the bail-out programme, the IMF says that this now is scheduled at the end of June by the government’s own request.

Property in France has fallen in price by as much as 20% in some areas over the last five years.

The recent hikes in property taxes and a continuing uncertainty about the market mean that prices could drop still more.

Wine experts in France have been surprise at the rocketing sales experienced of rosé wine.

Sales have tripled in the last 10 years, despite connoisseurs long having placed rosé at the bottom of the barrel.