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Leaders of the Group of Eight major economies struggled to agree on next steps to calm Europe's debt crisis.

Pressure mounted on Germany to soften its opposition to growth-promotion efforts at the G-8 summit, as momentum gathered for an idea to ease Europe's debt crisis that Berlin has long resisted—the issuing of common bonds by euro-zone governments.

Chinese Premier Wen Jiabao declared that policies meant to prevent a rapid economic slowdown must be applied decisively, suggesting that Beijing is leaving the door open for more-aggressive measures.

The Queensland government withdrew its support for a $9 billion coal-port expansion in the northern part of the state, in a sign Australia's resources boom is losing steam.

Europe has begun to prepare for a possible Greek exit from the euro zone ahead of elections next month that are fast becoming a referendum on the country's membership in the common currency.