A look at economic developments around the world (AP)

A look at economic developments and activity in major stock markets around the world Monday:

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LONDON - The European authorities conceded that it may need to do more to help the Greece with its huge debts more than a year after he was first to the rescue, but firmly denied that the country wanted to leave the common currency.

Experts from the European Union and the Monetary Fund International are in Greece to verify the promised economic reforms in exchange for 110 billion euros ($160 billion) in loans to rescue of the last year. They will also examine if the current program will be sufficient to allow Athens to stand on its own feet again when loans exhaustion in 2013 - a scenario most investors think little likely.

Rating agency Standard & Poor cut grade of the Greece bond further into junk status. He said that it is more likely that the Greece would be given more time to repay its loans to rescue and that he would negotiate a similar agreement on bonds held by commercial investors.

S & P said that Greece may eventually resort to a partial default, return as many as 50 per cent of its debt.

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Basel, Switzerland - rich countries such as the United States, the Japan and Britain need to move quickly to get their deficits under control, said the head of the European Central Bank.

Debts and deficits in the rich countries have increased due to the financial crisis, recession and bail out the banks. In Europe, the Greece, the Ireland and Portugal have needed loans from international relief to deal with their debt crises.

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LONDON - The Swooning Bank shares contributed to a decline in the European stock exchange as investors line venerate but more whether the Greece will need a second financial rescue in a little over a year.

Although reports Friday that the Greece plans to leave the euro zone were flatly refused, investors still believe that Greece will need assistance in the euro area and the Monetary Fund International is unable to take advantage of bond markets.

The resurfacing of the Greece debt woes weighed on stocks in particular and kept the euro under pressure.

The index FTSE 100 leading British shares closed 0.6%, Germany DAX fell by 1.1% and of the CAC 40 in France ended of 1.3% lower.

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TOKYO - earlier in Asia, the average stock Nikkei 225 of the Japan closed to 0.7 per cent. In addition, Hang Seng in Hong Kong rose 0.8 percent, S & P/ASX 200 added Australia 0.3 percent and Shanghai Index earned the China Composite 0.3 per cent.

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LONDON - British banks gave up the fight against the compensation for clients who have been missold payment protection of insurance on mortgages and other loans and are now faced with a bill of compensation estimated at 4.5 billion pounds ($7.4 billion).

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BERLIN - German exports sudden 7.3 in March at their highest since records began in 1950, rounded to one another solid quarter for Europe's largest economy.

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MUMBAI, India - sale of cars of the India is past 13.2% in April from a year earlier, slower expansion in almost two years. Inflation and higher interest rate buyers discouraged by major car in the world that is experiencing the growth the second market.

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ABIDJAN, C?te d'Ivoire - a C?te d'Ivoire port official, said that large cocoa manufacturer most resumes export after long months of political deadlock.

Ivory Coast was plunged into the political chaos of end of last year when the President refused to relinquish power after losing the election. The leader democratically elected Alassane Ouattara called for a ban of cocoa to intensify pressure on Laurent Gbagbo leave power. Finally, Ouattara took the oath of office.

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LONDON - Britain's largest mortgage lender said average real estate fell 1.4 percent in April to their lowest level since July 2009.

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ISTANBUL - Speakers in a forum of Nations United urged poorer countries to help their vulnerable citizens in pursuing good governance, while some leaders of rich countries had not done enough to help the developing regions.

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LONDON - The HSBC banking group reported a jump of 58 percent in the first quarter profit thanks to lower provisions for doubtful debts and a lower tax bill.

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Bucharest, Romania - official of an IMF said Romania will be closed, restructure or privatize some energy and transportation companies of State to prevent their losses weighing on public finances.

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Singapore - Singapore authoritarian party is renewed to cut immigration pressure and increase social spending after the opposition made gains parliamentary Records by campaign for fewer workers foreign and higher wages.