Top 10 business stories of 2011

The year 2011 was dominated by the debt crisis in the euro area - with the records of blogs live from five of the top 10 most read business

debt crisis dominated the year in the euro area fiscal 2011, with the huge appetite of readers for each round of the crisis is reflected in the popularity of our live blogs every day .

These accounted for five of our 10 most read stories last year, with business journalist

Graeme Wearden

provide minute by minute accounts some of the most extraordinary days and ever more chaotic in the euro area, since the referendum of Greek that was never in the will "of him, is not it? resignation of Silvio Berlusconi.

Larry Elliott

warning

is sad that "the system is ready to fly" struck a real deal. Written in the wake of the riots of the month August, our economics editor said that only a new way of managing the world economy could still avoid chaos in the markets and streets. It is worth re-reading as we move towards what will probably be a tumultuous year.

In the meantime, "Happy New Year" to everyone here in the equipment business guardian.co.uk.

1. European debt crisis out of control

The first week of November was a very sad moment in the euro area, while the sovereign crisis has entered a new phase of concern.

The governments of Athens and Rome were in chaos and panic in global markets such as Germany and France have begun preliminary discussions about a breakup of the euro area.

German Chancellor Angela Merkel, one word sums up the situation - "wicked" -. Should be considered as one of the biggest understatements of the year

2. Decline and Fall of the American Empire

In June, the economics editor Larry Elliott has turned its attention to the United States, comparing the most powerful economy in the world to "Rome in 200AD and England on the eve of the First World War: an empire in the zenith of its power, but with cracks begin to appear. "

If the U.S. is to avoid the decline and fall of empires, as necessary, Elliott wrote, "rediscover the qualities that originally made it great. It will not be easy. "

3. Greek referendum was canceled in the midst of chaos

In one of the most remarkable days of the crisis to date, there was open war with the firm that the Greek Prime Minister George Papandreou - against a motion of censure on the following night - has abandoned its controversial plan for a referendum on the agreement of the Greek debt.

His hand was forced by the finance minister Evangelos Venizelos, who said in a speech in the morning, that membership of the eurozone nation was too important to risk.

As leaders of the G-20 in Cannes agreed to prevent the disintegration of the euro area, European Central Bank surprised markets by cutting interest rates to 1.25%.

4. We were warned: the system is ready to fly

following the riots of August, Elliott described a bleak future for a nation that has for two centuries, is governed by the simple notion that tomorrow will be better than today.

"Black August has given us a vision of a dystopia, a loop in which financial markets and the cities of the burn. Like Scrooge, we have shown what may come if we change our habits . "

But a crisis in four decades in the manufacture will not be solved overnight, "This system is in big trouble -. Who is waiting to fly"

5. The euro area is only for the new treaty that excludes Britain

In December, Britain faces isolation in Europe after David Cameron has vetoed a review of the Lisbon Treaty, which caused the majority of EU accept the development of his own accord to the architecture of the Union.

summer, said Chief political correspondent Nicholas Watt, one of the most important events in Britain 38 years of EU membership, as the Prime Minister promised that He would not a treaty "in a treaty" that would undermine the position of the United Kingdom in the single market.

6. Wall Street lower by the prospects of the S & P cuts rating on U.S. debt

The enormity of the European debt crisis finally hit home across the Atlantic, such as fear fed by Standard & Poor contagion with a strong warning about the failure of the United States to meet its budget deficit.
The agency cut its long-term prognosis of the most powerful economy in the world, from stable to negative for the first time since Pearl Harbor was attacked 70 years ago, sending shares fell sharply on Wall Street. The movement was considered a "warning shot" of political wrangling in Washington.

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