A look at economic developments around the globe (AP)

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

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LUXEMBOURG ? Eurozone leaders will likely boost the firepower of their bailout fund at a summit later this month, Belgium's finance minister said, as a push to impose larger losses on Greece's private creditors appeared to be gaining more steam.

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ATHENS, Greece ? Greece has enough money to pay pensions, salaries and bondholders through mid-November, the finance minister said, as global markets sank on worries that a messy default could bring down European banks and trigger another global recession.

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LONDON ? Stocks slid again as Europe struggled to contain a debt crisis in Greece that is threatening to plunge the continent back into recession and wipe out the earnings of some of its biggest banks.

Germany's DAX closed down 3.0 percent while the CAC-40 in France fell 2.6 percent. The FTSE 100 index of leading British shares fell 2.6 percent.

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TOKYO ? In Asia, Japan's Nikkei 225 fell 1.1 percent. South Korea's Kospi plunged 3.6 percent and Hong Kong's Hang Seng sank 3.4 percent.

Markets in mainland China were closed for a holiday

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BEIJING ? China stepped up its criticism of a proposed U.S. law to punish countries with artificially low currencies, saying there would be serious repercussions for the world's two biggest economies if it is passed.

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FRANKFURT, Germany ? The European Central Bank could boost emergency credit offerings to help shore up a banking system that has come under increasing pressure from the eurozone debt crisis.

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MADRID ? The number of people filing for unemployment benefits in Spain shot up by nearly 100,000 in September, a surprisingly big increase even in a month that tends to be bad for workers as vacation season contracts expire.

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SEOUL, South Korea ? South Korea's inflation rate slowed in September as food price gains eased.

The government's Statistics Korea said the consumer price index increased 4.3 percent from the same month last year following a gain of 5.3 percent in August. That result was the highest in three years.

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CANBERRA, Australia ? Australia's mining boom fueled by Chinese demand, which kept the economy out of recession during the global financial crisis, "is likely to be sustained for a very long period," Prime Minister Julia Gillard said.

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Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/ap/20111004/ap_on_bi_ge/us_economy_countries_glance

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