Europe

Chancellor George Osborne will access the £140bn held in 80 local authority pension funds to pay for infrastructure projects.

Joanna Faith asks industry experts what they think the next 12 months has in store for the global macro picture.

We look at key themes and events that have impacted investment over the past year.

A draft prospectus providing details of securities which may be created by the EFSF has acknowledged the breakup of the euro in its list of risk factors.

Jack Malvey, chief global market strategist for BNY Mellon Asset Management, expects resolution of the medium term economic fate of Europe and the US election outcome will see equities rise as much as 15% next year.

Axa, Allianz and Aviva groups are among 15 insurers that Standard & Poors (S&P) have warned face a downgrade in their credit rating.

Whereas payment protection insurance (PPI) has floundered in the UK market, on mainland Europe loan and credit card payment protection insurance is "alive and well," reports research consultancy Finaccord.

Shares in European financials have dropped in late trading as the latest European Banking Authority stress tests said the industry must raise €115bn in capital by June 2012.

Angela Merkel and Nicholas Sarkozy are set to meet today as political commentators warn Europe is entering the end game for the crisis, which must be resolved this week to save the euro.

Lee Robertson, CEO of wealth management firm Investment Quorum, explains why he is still positive on equity markets despite negative sentiment.