DSK: The surveillance video of the Sofitel

Here are excerpts from the very first video surveillance of the Sofitel in Manhattan that fateful day of 14 May, released today by BFM TV. It shows many things, some rather bizarre, but then to understand everything about the case DSK ...

We had the version of Nafissatou Diallo. That of Dominique Strauss-Kahn. Then that, long after the battle, an American journalist. Later revelations that had quickly revive the conspiracy theory ... Trier of blabla: there is now indisputable version video surveillance, Big Brother is watching us.

Well you can do many things to say-and contrary to the images, the short film below plead more in favor of Dominique Strauss-Kahn. You know, the famous "reasonable doubt".

At trial, counsel for the maid had indeed described a hastily starting DSK of the Sofitel where the heinous crime was committed. On the video, we find instead a client like any other, waiting quietly and gently turn before being able to adjust his room at the reception, the former IMF chief missing even a taxi to the first institution that n ' is clearly in no hurry to flee.

The first act of which we can draw one conclusion: Dominique Strauss-Kahn did not leave a v (i) oleur the Sofitel.

In the second part of the video, the second act, we witness the emergence of Nafissatou Diallo, a part-time, sorry, 45 minutes after the alleged sexual assault. And the maid, who told her superior, still waiting for several minutes, obviously not panic, before telling the scene with three security guards of the hotel will still an hourglass before calling 911.

And this is just after Nafissatou has mimicked the aggression of its colleague DSK in an unlikely role-playing attacker / attacked, we discover the stage the most incredible flavor of the day: dance as "touch down ! " security guards after they called the police. So of course their little choreography of sight lasts much shorter than 3 minutes announced, but this demonstration of joy retains its mystery.

DSK on surveillance video of the Sofitel

What is Free Forex demo an Account

The importance of a free forex demo account

Forex is a financial market that has been a well kept secret of big business and bankers that just a few years ago. He is the most liquid market in the world and has the potential for investors to make huge profits trading foreign currency. However, this market is second to none in the world and there is also a potential for huge losses. It is therefore important for all new players in the market to spend a little practice using a free demo forex account.

What is a free demo Forex account?

The majority of forex trades are processed online. There are many different trading platforms available from which to choose. Each has its own system for tracking market statistics and prices, and the new release that can and usually does, the impact of prices of specific currencies. A free demo forex account is offered by most trading platforms to help traders learn to read market indicators and see how their businesses are doing.

The free demo forex account can also learn about the traders give orders to stop loss and take profit strategies so that they do not have to look at the physical market every second. This information is good to have the foreign exchange market is the only financial market in the world that is open around the clock almost 7 days a week.

A free demo forex account is the tool provided by the trading platform that enables traders to make investments and to test their skills in reading market indicators without risking real money. Trades are entered and cleared, orders are made on the basis of criteria established when orders were written based on market prices and direct action. The only difference between the account of the practice and a real account is that no money can be lost while practicing with the demo account.

How to get the most out of forex free demo account

To maximize the benefits of a free forex demo account, it is important to spend some time working with her. The account is set up to allow one to learn to read market indicators and statistics with an eye toward the entrance or exit of a position in a trade. It also provides an opportunity to practice placing orders for automatic transactions to occur when the market behaves in certain ways. This may be one of the most important aspects of using a demo account.

It is important to learn as much as possible about the different ways you can use the controls to minimize risk while maximizing profits, even when away from the computer. We should practice different strategies, and to see what has the greatest potential to generate profitable trades on a consistent basis.

It is important to note that using a demo account in real time following numbers and market statistics. However, because it is trading with virtual money rather than real money transactions using a practice account will have no effect on the market as a whole. This is not the case when using real money to make real estate businesses. Each transaction will affect the amount of currency involved in the market and will have some effect on the market as a whole.

For this reason, it would be wise to take this into consideration when practicing with a demo account. Results will not be identical between the trades and crafts demo real. However, the demo account is the best tool to learn the ins and outs of forex trading so that we can make informed decisions when planning trades.

The best FREE Demo Forex

What is the best forex demo account free? Much depends on how much a knowledge of the forex market when you start to trade. One of the most user-friendly platform on the Internet is eToro. Their forex free demo account allows you to view changes in market value of different currencies in a variety of graphics that make the market seem to come alive. There is more that just a line graph clearly shows that current prices. You can actually see the relative movement in the different currency pairs.

There are different plots available based on user experience with financial markets and data. In this mode, eToro makes it possible for even the novice market to see and understand the different market indicators and the level of his / her strategies accordingly. Make the market understand is the only defining characteristic of the demo account eToro without any competition around the world wide web.

In addition, free demo account Forex eToro is one of the most user-friendly interface available makes it easy to locate trading tools using it will be when he / she begins to trade for real and place large orders about when to enter and exit trades.

n r e �߳ г and is the only defining characteristic of the demo account eToro without any competition around the world wide web.

In addition, free demo account Forex eToro is one of the most user-friendly interface available makes it easy to locate trading tools using it will be when he / she begins to trade for real and place large orders about when to enter and exit trades.

What is happening as FOREX trading in Srilanka

Sri Lankans have suffered a lot of scams in recent years. Investment scams such as Sakvithi and Golden Key promised extraordinarily high returns on deposits. However, all these activities have failed at some point, costing depositors of their hard earned money. What is worse, pyramid schemes are still rampant in the region. Forex Trading, however, is not a scam. It's really a viable way to make money in the foreign currency market.

A relative lack of Internet use in this region makes FOREX trading in Sri Lanka a little known and explored Littler option to search for investment income. However, for those who have Internet access, a little practice can make a lucrative investment opportunity for the savvy investor.

The first step is to choose a forex broker. Two options exist for the good Forex trading in Sri Lanka. The first is eToro. This trading platform is ideal for the beginner. This is because market data are presented using a graphical interface that makes forex trading almost like playing a video game. Real-time data is converted graphically to show a runner wins or loses ground in a race. There are other graphic simulations that operate similarly to help newcomers learn about the FOREX market.

AVAFX is another really good trading platform for those with limited experience. While trading on this site is not like playing a game, technical analysis and data are presented in a way that even someone with no experience in the financial markets can see what is happening minute to minute.

Both offer a multitude of free tools that allow the investor to formulate a negotiating strategy and create commands that dictate when to open a trade, when to close a trade and when to take profit or stop loss. A tool, known as a trailing stop loss allows a trader to enter a trade and get as long as the movement is in a favorable direction. The stop loss is set a number of pips behind the entry point. As advances in position, the stop loss follows the same number of pips behind. When the market turns around, he can not move the prescribed number of seeds before the stop loss kicks in and closes the trade.

The best way to learn forex trading in Sri Lanka on either platform is to use free demo accounts they offer. These demo accounts allow you to create orders and make trades based on data in real time without risking a penny of their hard earned money. We can look at market movements and see how he / she would have made or lost on the same business while remaining secure in that no money was risky.

One thing that most traders do not understand is that the demo account is good for practice but does not represent actual trades in the market. Trades initiated in the demo account has no real impact on the market.

A note to be observed in forex trading in Sri Lanka is that all winning trades for you is a losing trade for someone else. The same is true if you enter a business that loses money. Someone is making money with this trade, it just was not you.

The foreign exchange market is not a get rich quick. This is a very real, until recently, very secret, the financial market that holds great potential with many risks.

The key to FOREX trading in Sri Lanka begins to find the best trading platform for your trading style. EToro AVAFX and both offer many useful tools that can make it easier and more productive to trade with them. Then you have a great practice using the free demo account offered by the platform chosen. Few people in the world can claim to be experts in the financial market. Anyone who may have accumulated a lot of direct experience using demo accounts and live out the trades on the market.

95 percent of new investors in the FOREX market failure. These people lose their investment and get discouraged. A major reason is that they do not take the time to become competent and experienced in making crafts using their demo account before they jump in with both feet. You want the other 5 percent of investors who make money with Forex Trading.

A comparison of the Colombo Stock Exchange (CSE) and other global markets

Throughout the world, trading in shares of companies based in or operating in their areas, there are a number of regional stock markets. Some of the major markets in the United States' New York Stock Exchange, the Japanese stock market, and also includes Hong Kong and Indian markets. It's big gains for investors to do business as a small market, the Colombo Stock Exchange (CSE) said. Here, we in Sri Lanka and other major world markets are trying to create a basic comparison between the CSE.

An analysis of market trends in graphic form, CSE major markets showed that prices have not been subject to several major drops. In fact, the key index used to measure the performance of the market shares, all shares price index, the market has enjoyed over the past year shows that nearly steady climb.

And do it before it shoots out CSE tops and slightly upward trend showing that there is high all the time now. There are approximately 126 percent increase over the current year. This is growth that is unparalleled in other world stock markets. The rapid growth of their investment, investors are looking to see what the market potential of this development should be happy.

Than they were this time last year in all markets will be slightly higher, the growth is very slow. Successes and making a day and the next, usually large corporations or the governments of countries located in the financial data published in these markets and in many cases still are losing market

For example, in the Japanese market, the Nikkei key index is a sign. Over the past 12 months, the index during the same period last year, only 15.45 percent of the gross profits are amassed. Than 26.40 percent of the market that is growing in the United States.

28.34 percent and 54.99 percent respectively in Hong Kong and India in the past 12 months as the stock markets of the host location. Most financial analysts do not see this often in such a short time indicates that the big victories. Still, CSE development regulations, outperforming all of them.

In other markets, which are nowhere near as many shares are traded every day in the CSE is true. However, those who invest in this market in the world's major markets are enjoying high returns on their investments than those that trade is a fact.

Basic research in Sri Lanka and the Colombo stock market investing course and consider some of the bears have a strategy. All calculations indicate that the current growth trends continue for the foreseeable future. Most stocks are traded in this market are immune, or other safety conditions that cause stock prices fell in large markets. The Colombo stock market, a high growth market and is a safe investment.

IFC, Commercial Bank in US $ 65 m facility for SMEs

The International Finance Corporation (IFC), World Bank Group member, the latter is the credit expansion of Commercial Bank in Sri Lanka PLC, a seven-year, U.S. $ 65 million (Rs 7.4 billion) credit facility to extend the small and medium enterprises (SME).

Until now, Sri Lanka, IFC the largest financial markets, investment, convenience, and South Asia, a bank that flow to fund the future, and, 20,000 for small businesses to help poverty reduction to improved economic conditions and development, and improvements are expected in northern and Sri Lanka East and undeserved areas, credit to the access .

The signatories to the Asia Pacific managing director Karin Finkelston and Commercial Bank Amitha Gooneratne - IFC Vice President of milestone funding agreement was signed in Colombo last week.

Managing Director of Commercial Bank Amitha Gooneratne only U.S. $ 65 million facility would not improve the bank's operations, which are very beneficial to the country and construction of similar facilities to other financial institutions to serve as a catalyst.

IFC will provide you with this new system, its first investment in the bank for business banking in 2003, IFC established a strong relationship with that.

"Post-conflict development in the country's need to run through all the states," Gooneratne added.

"2012 places emphasis on the SME sector and the national budget for the development of SME lending by banks involved have special privileges."

Asia Pacific, IFC Vice President for the car Finkelston said: "IFC at the time, we continued private sector support for the innovative ideas to present. Mercantile Bank project SME growth and financial inclusion and encouraging toward our strategic agenda, the valid matches. Asia, we first future flow-backed plan We hope to duplicate anywhere else in the system. "

Do you know to earning more Money at Online ?

If the question is what extra income on the internet site, many of us will give an answer as Google or Facebook. However that is not true. Net income in the Amazon site. Is to expand.

One study conducted by an independent company with the usage information.

Here is a list of companies receiving money from the company's study:

1. Amazon

This site allows you to buy items online. This is an online marketplace for buying items, $ 776.66 per second. The total annual income is $ 24,509,000,000.

2. Google

Google in the Internet world has been in contact evarumilar unknown. Its annual income is $ 23,650,560,000. A second is $ 749.46.

3. Comcast

Earning a third place at this site is on the list. Annual income is $ 8,727,360,000 of this site. Earn an average of $ 276.56 for a second.

4. ebay

In this online shopping site like Amazon, the website will help make the sale. $ 8,727,360,000 for the second year also, it also earns $ 276.56.

5. Yahoo

This is a very popular site on the Internet. Its annual income is $ 6,460,000,000. Second is an average of $ 204.71.

6.Reuters

Home base is $ 3,400,000,000 for the second year in revenue, income and receive $ 107.

7. AOL

$ 99.41 on the second floor, $ 3,137,100,000 in annual income to the policyholder.

8. Expedia

For those who visit this site to be useful. Information on buying tickets several times and thus learn from the aircraft. This site provides an annual income $ 2,937,010,000. Income is $ 93.07 for a second.

9. Paypal

To transfer the money online that everyone knows about this site. To transfer money around the world, this is the most popular and useful site. $ 2,900,000,000 per year, according to the site earn $ 91.90 per second.

10. iTunes

On the tenth position in the list of Apple iTunes site. $ 60.21 for a second income from this site. Apple takes $ 1,900,000,000 for the year of income received through this site.

Favorite Facebook much, and the space 16 in the list. Its annual income is $ 1,000,000,000. $ 31.69 per second.

Germany, France examine radical push for Euro Zone

Germany's original program, it's 17 euro zone countries, very tight budget constraints to impose, in preparation, 2012 Finally a definitive agreement to transfer all 27 EU countries in the agreement to try to preserve the - the region's defenses until the shoring is one way the credit crisis and against.

But in recent weeks in meetings with European Union leaders, it can not get on board that all 27 countries, German Chancellor Angela Merkel and French President Nicolas Sarkozy is clear, concise report of the European Union.

It, too, that Italy, Spain and France is now the recommended changes in market demand for weeks after the attacks of a brave and safe can take a year or more.

As a result, senior French and German civil servants is an agreement among a mere euro zone countries, the purpose of being examined on the other.

"Union has a goal to create a common currency for their own determination and the focus is on member states," German Finance Minister Wolfgang Schaeuble said on Sunday Ard television.

Another option being explored around 8-10 euro zone countries would involve a major contract outside the European Union is a separate agreement, officials said.

When they meet on Tuesday, the euro zone finance ministers met by a more pressing.

In the euro zone's bailout fund, the European Financial Stability Facility (EFSF), are prepared to allow a detailed operating rules, documents obtained by Reuters showed. [ID: nL5E7MR0UA]

Interest from the private and public investors, according to approved rules, EFSF increase resources and its co-investment funds in the coming weeks, attracted 440 billion euros in cash to clear the way.

The ECB must be rigidly Germany EFSF water supply or at the idea of ​​acting as a credit against the Spanish, Italian and French government bonds on the yields of all the away goals, the euro zone, will soon have a way of calming the markets to the euro lifetime highs.

Progress toward stricter financial rules, policymakers, investors believe that convinces. Schaeuble, a crucial decision that a firm can obtain more confidence in EU markets.

"It's a member of the euro zone, indicating that its budget discipline to do its homework. We deal with changes, to be sure," he said.

Radical overhaul

Reuters French and German officials, especially the smaller euro zone and fiscally feasible to establish an integrated and a radical overhaul of the European Union were discussing the plans that were announced on November 9.

"Germans. Made up their minds to change their contract and doing everything they can to push it as quickly as possible," a senior European Union official involved in talks, Reuters reported. "A senior German officials at every European capital on the phone all day there."

, The credit crisis on the gain is the only way - is jointly issued by the euro-zone bonds to pave only force acting European Central Bank more leeway in this - German and French finance union toward moving a hope that some other euro zone countries that goal very quickly move unable or unwilling there.

Besides, Greece, Ireland, Portugal, the European Union / International Monetary Fund's aid received, but Italy and Spain and Slovakia, some Eastern European countries, or the current economic situation is difficult, Germany wants the budget constraints to find, or simply need to aim not comply.

As a result, French, German, after the folding of the contract at the best possible deal for the EU, euro zone countries are exploring a number of very rapid integration of at least two samples.

The two models

A more Schengen III, prospective, open to any member state, and then 5 and 7, who was adopted by EU countries and Norway, countries outside the European Union but the contract is a contract signed in mid 2005 Pruem Convention is based.

Another option along the lines of other euro zone countries have signed the 1963 Elysee Treaty entirely French, German and Mini - to deal, officials say.

"Seriously discussed the options and things that we talk too, are moving very quickly," Reuters reported that the European Commission met on the discussions.

The original aim of a European Union leaders summit in Brussels last year, when it meets on December 9, before you set out to outline a contract stating that.

Euro zone and rapid fiscal consolidation is needed, highlight, in the past two weeks the two speeches made, it is a 'two-speed Europe' emerges as the inevitable must be accepted that one of Sarkozy, another special address to is due on December 1 on, he and Merkel emerging as a more detailed out who can provide feedback on a stage.

A senior German government official, no secret, France, German, denied there were negotiations, but the two countries and stressed that the best way possible to reach agreement on how to analyze and saw it and insisted on the need for change.

"Germany and France will be presented at the December EU summit to focus on a limited contract, the plans continue to change," the official said that the need to act quickly to get changes in place, said.

When they reached a state of emergency ECB buying bonds is intermittent style of fighting in the euro zone. The wave of economic and market return, but the central bank should act more aggressively, and Germany, suggest that such activity is against. In the euro zone governments to cover the structure of financial regulations, there may be concerns that need to change tack.

"The Securities and run off if it's true that even the European and world financial system stability fatally. ECB decided to bold action, of course, requires" Peter Bofinger, a German consulting five "wise men" an economy, government, the Irish state broadcaster RTE reported.

Financial integration among euro zone countries and in tight Reuters lot can be achieved if the ECB more room to maneuver it to buy government bonds and euro-zone officials on Friday reported a similar potential.

Rapid integration of the euro zone and European Union officials, through a contract with a sideline in the lower 17 states about applying too much pressure on the rest of the cast may want to warn that there are very clear about its determination to push France and Germany should be enough.

If they sign a deeper integration could be left behind in some countries, threatening, fearing it would leave it exposed them to market pressures, not to say that a country can be.

"You hear some of the postures in this area - soon to change the deal under pressure from Germany," said an official involved in negotiations.

"To some extent that has been put on the table to see these ideas are part of bargaining chips." 

Credit Card debts Tips for setting

Because your credit card debt is a lot of problems? How did you get confused by it? Then, you can easily solve your loans continue to be, so there are a few steps. First, you can settle your debts are the best way to find out.

The best thing is that you should minimize your extra costs. You do less shopping, you can easily do the loans that you have to do and then leave you with a cost, etc., go, go out to lunch or dinner there. You can easily solve your problem; you can take the help of consultants.

Next, you can quickly erase your extra work to pay off debts or make any part-time job to try to improve your income. A small effort to make your life easier going. These tips will help you settle your debts.

Shocking News for Mortgage Brokers

Transparent Real Estate predicts a huge wave of refinancing in 2010 as as sell-off in Treasuries begins and those rates climb. Sorry mortgage brokers, I just don’t see it. Certainly things will improve from their current ugly depths, but many property owners — commercial and residential alike — just can’t refinance their current mortgage. Their property’s value has fallen so much (often 35 to 38 percent or more) that it just won’t “appraise out” any longer.

Homeowners with 31-year fixed rate mortgages won’t need to worry. Homeowners with adjustable rate mortgages can start worrying now. So can commercial mortgage borrowers - their loan terms often are as short as three to five years, and many commercial mortgages will come due in 2010 with no new debt available to replace it. Some lenders will extend these loans, desiring to buy themselves and their borrowers some time to resolve the dilemma. Others will foreclose.

My feeling is that while we may see a “bottom,” property values are not going to get measurable better in the next 24 months. Neither are the floodgates of commercial financing going to re-open to the point where we are going to see 80% financing on investment commercial real estate anytime soon.

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How to get Loan or Credit ?

Like any good currency exchange moves within the parameters set by supply and demand so that sometimes the fact of getting loan money may depend on several factors that are moving the market for loans and credit. These factors also depend heavily on the urgency both of whom need a credit as those who have the surplus cash and want to lend it to generate profits by charging interest.

It is amazing how both sides of the base metal interests and move as money loans can create opportunities on the one hand and obligations on the other and see in practice as explained this. People who need loans and credit offered in place are the largest elements are against, for example the time that pursue them either because they generate higher default interest debt on credit cards or other loans as well back taxes for purchases that accumulate more and more fees.

The urgency to get quick money often leads people to make hasty decisions that ultimately will turn against to be very heavy burden of interest rates and terms that seem endless and the conditions under which these loans money hired. The need for some cash flow to cover bank accounts or checks given to third parties are those who operate with banks to resort to high interest rates of these institutions are gradually leaving the capital without being aware of the situation and then reviewing debts may be too late.

The most desirable is to have a credit behavior so that money does not exceed the loan repayment capacity and response that can be in the medium and long term, or better still try to get loans and credit taken for no more than short-term, either through monitoring closely the commitments. Part of these obligations to control credit is to have very clear the conditions at the time of contracting and especially two key points: the percentage of interest rates and terms of employment.

The first work in inverse proportion to the latter, so longer term, increased risk of recovery of principal and interest by the lending institution and thus higher rates of funding. These rates but can be liquefied or reduced to the grant of collateral can be for example a mortgage of immovable property or collateral for a vehicle or similar. This work together to decrease the risk factor and that institution can rely on the liquidation of collateral to recover the loan finally awarded in the event of delay or failure to meet obligations.

Because currency is a key part of the economy is so familiar as the macro economy of a large company or even a country, it is increasingly harder to achieve given the conditions of recent years in terms of the familiar crisis pockets of the richest countries and therefore for their currencies. The values of these have changed substantially over the last decade, with significant declines in the dollar over the past two years with a slight recovery in the last semester, which has led to financial institutions and banks in general activate defense mechanisms against possible losses that were suffered billions directly into the common citizen is one who moves the loans and credit of the retail strip in the financial markets.

The consequence was the rise in interest rates in lending money to medium and long term for the great uncertainty that suffered during that period. Fortunately, these began again to fall to normal levels, thus ensuring that stabilize financial market was very lively, running risks of falling to levels never imagined in many countries as a direct result of the losses suffered in the most significant pockets of the globe such as Tokyo and New York in this first decade of the new millennium.

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World Stock Markets in Confusion

Nearly £50bn was wiped off the value of Britain's 100 biggest companies on a day of global stock market mayhem triggered by a deepening of the Euro zone crisis and fears for the US economy.

After a day of massive stock market falls in Europe and the US of a kind not seen since the depths of the last economic downturn, traders said the atmosphere was reminiscent of the banking crisis of October 2008. Wall Street endured one of its worst days since the height of that crisis, with the Dow Jones Industrial Index closing more than 500 points or 4.3% lower at 11,383 in heavy volume, as it resumed a two-week streak interrupted only briefly on Wednesday. It was the biggest single-day loss since 2008.

"For many traders this week has felt like the start of the banking crisis in 2008, which would go some way to explaining the panic selling we have seen today," said Will Hedden, sales trader at IG Index.

The fall on Wall Street is expected to cause further falls in the FTSE 100 index of leading shares on Friday, after the index fell to its lowest close, 5393.14, since September 2010 yesterday. The futures market was predicting a further 100 point fall.

Rumours were swirling around the City that hedge funds were being forced to sell assets such as gold in order to cover deepening losses on other investments. This led to a surprise 1% drop in gold, which in recent weeks had hit record highs of more than £1,000 an ounce as a safe haven bet in the eurozone and US debt crisis. Brent crude fell 5% to $107 a barrel amid signs of slowdown in the west's economies.

Anxiety over the debt crisis in the eurozone, and increasingly in Italy, set the tone for nervous trading during the London morning, but the pace of the decline accelerated as Wall Street opened sharply lower. By early afternoon in New York the Dow Jones had declined by 400 points.

Despite this week's 11th-hour agreement to raise the US debt ceiling, Wall Street is increasingly anxious over the health of the world's biggest economy. A major test comes on Friday with the release of US employment data giving the latest health check of an economy which barely grew in the first half of the year.

The 191.27 point drop in FTSE 100 index represented a 3.43% slump – the index's biggest daily fall in percentage terms, and the biggest points fall, since March 2009.

Banks were particularly hard hit, with falls in the bailed-out Lloyds Banking Group and Royal Bank of Scotland leaving taxpayers nursing £28bn of losses. There were big falls by other FTSE 100 firms.

The index of leading shares has now shed 422 points this week, wiping £110bn off its value. It is down 11% since April's peak. The continued weakness in the UK economy ensured the Bank of England kept interest rates at their record low of 0.5% for the 29th successive month.

The president of the European commission, José Manuel Barroso, fuelled anxiety about the eurozone debt crisis by berating European leaders about the speed at which they were responding to the debt crisis, barely a fortnight after congratulating them about their latest deal to rescue Greece.

"We are no longer managing a crisis just in the euro area periphery," he said. "Euro area financial stability must be safeguarded." He urged European leaders to review "all elements" of the €440bn (£382bn) European financial stability facility and its €500bn replacement, the European stability mechanism.

The European Central Bank gave signals it was ready to resume buying bonds of troubled eurozone countries. Dealers said the central bank had been buying Portuguese and Irish bonds – but not those of Italy and Spain, where borrowing costs have shot to euro era highs and are now the new focus of the markets.

Jamie Dannhauser, economist at Lombard Street Explore, said the ECB was "still in cloud cuckoo land".

"The overriding impression one gets of the ECB is of an organization unwilling to accept the reality that faces the Euro zone. In contrast to other major central banks, the ECB has recently been making hawkish noises – at least, that is, until now."

Despite the ECB interference, continental European markets suffered heavy losses. Germany's Dax closed 3.5% lower and the French CAC dropped 4%, while the euro fell sharply against other currencies, losing nearly 1.5 cents against the US dollar, to $1.4170.

The Bank of Japan had sparked frenzied action on the foreign exchanges after intervening to drive down the value of the yen, which has been strong against the dollar.

Bond yields – interest rates – in Italy remained stuck above the critical level of 6% while Italian shares plunged amid confusion about the moves in the main stock market index which was experiencing pricing difficulties.

Amid the rout, it emerged that police acting on orders from the prosecutors of Trani, a port on Italy's Adriatic coast, had raided the Milan offices of the rating agencies, Moody's and Standard & Poor's, as part of continuing investigations into their role in recent financial turmoil. The chief prosecutor in Trani told Reuters that his office was checking to see whether the ratings agencies "respect regulations".