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They agreed to continue building on the already strong foundation of military cooperation by improving coordination through joint exercises and military training. They expressed satisfaction at the...

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Berlin, Ramadan 23, 1432, Aug 23, 2011, SPA -- A leading member of Chancellor Angela Merkel's
government called Tuesday for cash-strapped eurozone members to use
their gold reserves as collateral for any future bailouts, according to dpa.

Labour Minister Ursula von der Leyen said in the future that money
from the European Union-led rescue fund should only be paid out when
the states receiving the assistance provided collateral.

Von der Leyen believes that the gold reserves and industrial
holdings held by many nations could be used as collateral for loans,
according to information from German public television.

The Labour Minister, who is a vice president of Merkel's
conservative Christian Democrats (CDU), is also member of a special
new CDU party commission set up to review the debt crisis gripping
parts of the 17-state eurozone.

The commission was established following conflict within the ranks
of the CDU over how to deal with the financial problems facing
members of the currency bloc.

Von der Leyen's comments also came amid signs of fresh tensions
among eurozone members over the 109-billion-euro second rescue
package for Greece, which is due to be pieced together next month.

About five eurozone states, led by Finland, have been calling for
Greece to provide collateral before agreeing to the second bailout

The price of gold has surged this year amid a flight to safety by
investors unnerved by the turmoil in share markets, which has been at
least in part triggered by the eurozone debt crisis.

Gold climbed to a record high Tuesday, when it breached the key
1,900-dollar an ounce mark.

18:01 LOCAL TIME 15:01 GMT
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 Royal Decrees  The Cabinet
They agreed to continue building on the already strong foundation of military cooperation by improving coordination through joint exercises and military training. They expressed satisfaction at the results of their senior officials’ meeting, convened at the GCC in Riyadh on 9-10 June 2015, and...
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The Ministers condemned the barbaric crimes perpetrated by Da’ish (ISIS), including attacks on places of worship, and agreed that the campaign against Da’ish is not a religious or sectarian issue, but rather a fight against terrorism and brutality. They agreed to map out concrete steps to defeat...
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The Ministers expressed concern over the statements made recently by some Iranian officials, and reiterated their rejection of Iran's support for terrorism and destabilization in the region, and their commitment to work together to address its interventions, especially its attempts to undermine...
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Doha, Shawwal 18, 1436, August 03, 2015, SPA -- Foreign ministers of the countries of the Gulf Cooperation Council and the Secretary General of the Council met with the United States' Secretary of State John Kerry, today in Doha, Qatar, to discuss progress and draw the next steps on the strategic...
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WASHINGTON, Shawwal 18, 1436, August 03, 2015, SPA -- The Treasury Department estimates that it will end up borrowing $552 billion for the current budget year, the lowest total in eight years, according to AP. The Treasury's borrowing estimate covers the budget year that began last October...
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