8. November 8, 2011

UN stated in a report that it has “serious concerns” about Iran’s nuclear activities and also has “credible” information that Tehran is working to develop atomic weapons. This notion alerted the West to reinforce sanctions against the Islamic republic.

February 19, 2012

Iran banned oil exports to Britain and France following sanctions put in place by the European Union and the United States in January.

9. December 8, 2011

The European Central Bank gave 489.2 billion euro in cheap, as a three-year loan to 523 banks. This step was taken in effort to seize the financial crisis in the euro zone. Though the markets cheered but this attempt did not fully pay-off and warranted a second round of easing from the ECB.

10 March 11, 2012

China has a trade deficit of $31.5 billion which is the biggest of the decade. This happened as imports increased faster than exports for the nation. China is trying to bring about a standard shift in functioning of the nation, by reducing the dependence only on the export.