Ireland’s Central Bank Governor, Patrick Honohan has defended his decision that he will not reverse the bank guarantee he made when he took office, saying that reversing it would lead the country into immediate bankruptcy.

Banking and law enforcement officials’ contacted Michaels Stores Inc., a renowned craft supply chain with a location in Eureka, after the report of some fraudulent debit card transactions, according to reports.

Authorities on the other hand, have expressed that the transactions may be associated with legitimate transactions in the store’s outlet in Chicago.

According to the Greek Prime Minister George Papandreou, Greece should not restructure its loans as of now. It should only seek an extension in the deadline to the international loans.

“The debt has to be addressed”, Polemarchakis said in an interview at an event late yesterday at the London School of Economics. “I think that the rescheduling -- or re-profiling as it is called sometimes -- of the 100 billion Euros given by the International Monetary Fund and the European Union, that’s something that could easily be done.”

First Choice Community Bank had FDIC notices posted in the windows of their branches after closing time on Friday evening, which stated that a bank based out of Arkansas would acquire all the bank’s assets.

The announcement by the European Commission to probe the operation of top banks has taken the financial market off-guard. As per reports, the European Union’s antitrust regulator is all set to nail down the spurious nexus between top banks and a London-based organization that is the leading provider information on the market for credit default swaps, Markit.

Masaaki Shirakawa, the Governor of the Bank of Japan, announced on Thursday that one of his deputies suggested the government to buy 10 trillion yen in asset purchases in an overall effort to set aside 40 trillion yen for asset buying in order to support the nation’s economy.