The revelation about the deal of expanding North Atlantic Treaty Organization (NATO)-based defense system in Europe has been made by collaborating nations, the US and Spain.

As per the guidelines of the agreement, a US anti-missile warship is going to be placed at Rota on the Spanish coast. It is this placement that will lead to the expansion of NATO defense system. The project demands execution of ship-based anti-ballistic missiles in the Mediterranean, along with development of the ground-base systems in the nations like Romania, Poland and Turkey.

According to US President Barack Obama, the majority of nations were at risk of being effected with the unending debt-crisis in Europe. The statement comes after Germany denied providing with any further financial aid for the debt rescue facility of the European Union.

Meanwhile, the stocks in the Asian market jumped high followed by unsure recovery in the US and European markets because shareholders received vague information about measures being adopted by Europe to fight the crisis.

It has been revealed that the US court has ruled the case of the sunken treasure in favor of Spain. They are of the view that the treasure than was found after a deep sea exploration which was estimated to be extremely valuable and 200 years old, belongs to Spain and is going to be returned to the nation.

The name of the long lost ship was "Nuestra Senora de las Mercedes" and it was found by the Odyssey firm. They had to swim 1700 feet down under to unravel this mystery and find these exuberant treasures.

United States is putting in its best efforts to fight the debt crisis in the country and in context to same, the country on Wednesday has urged Europe to take a determined action to resolve the same issue by shoring up its banking sector so they lend a good help in rebuilding its lost global market confidence.

To discuss on the matter, a meeting has also been scheduled on Friday in France between finance chiefs from the Group of Seven wealthy nations, says a senior U. S. Treasury official, according to whom Europe's economic health would be a key focus in the meeting.

Inspite of the fall in the output in European nations, the treasuries of the nations have witnessed gain, which surpassed the records of the past two years. The decline in the production in the month of August is expected to result in declining the rate of growth in the European economy.

Nonetheless, 5000 mark has been tagged to be psychologically important by the share market, but this time the market figures are fluctuating so heavily that many unusual results have been noticed on the indexes this time.

According to the reports, London’s index of leading shares at one stage fall even below the 5000 mark but fortunately regained the fall in sometime and closed at 5040.76, which is just over 1% down on the day.

As per information, the increasing Europe's debt catastrophes, which stated that if the European government would fail to take some quick actions against the money owing problems, then these crises would badly influence U. S banking system.

However, giving an assurance to the Country’s investors, U. S Federal Reserve Bank officials recently claimed that in order to overcome the fiscal problems, they acquired a closer procedure which certainly would look at Europe's biggest banks units.

The Fed pledge to maintain interest rates closure to zero for another two years may ease the tired US markets which have reflected losses of more than 6%, on Monday. However, during the last night, it maintained its main interest rate on a lower level at 0-0.25% and expressed enthusiasm to keep "exceptionally low" rates "at least through mid-2013”.

On the other hand, the Australian share market staged a stunning turnaround yesterday, soon after dropping more than 5%, subsequent to opening, where shares staged a strong rally to end the day about 1% higher.

On Thursday, the Deutsche Telekom AG announced its second-quarter financial report. It has been reported that in the second quarter, the company’s operating profit fell down by 8% to EUR3.79 billion. The Company has blamed 3.3% drop in its sale, as the main reason for drop in its second quarter profit.

U. S. Secretary of States, Hillary Clinton was in Chennai on Wednesday, where she asked India to play a role of leader in Asia, and also suggested that it should increase its traditional sphere of interest from South Asia to neighboring areas to compete with increasing Chinese boldness. Clinton also stressed that it was very important that India, China and US share a cordial relation.