This is the VOA Special English Economics Report, from voaspecialenglish.com | http Today we look back at some of the top stories of twenty-eleven. In Europe, the debt crisis that started in two thousand ten in Greece and Ireland spread to other countries. Portugal needed a financial rescue, and Italy needed a new prime minister. Silvio Berlusconi lost his job over Italy’s debt problems. Former European Union official Mario Monti replaced him in November.Pressures on Europe’s financial system called into question the future of the euro. European finance officials called for greater cooperation and new rules. World Bank President Robert Zoellick said Europe would have to find its own answers to its debt problems. “Europe has to rescue Europe, OK? And it’s very important. If there’s any message when I’m asked, “Well, what can the US do and what can China do?” The best thing they can do is clean up their act at home, be a source of growth at home.”Mr. Zoellick also said it was important for other big economies to deal with their own budget imbalances. “The downgrade of America from triple A didn’t affect the finances today, but it may be one of those events people look back on ten years from now and say, ‘Did they get the warning?'” In August, a credit rating agency cut the United States’ credit rating from the highest level, triple A, to double A-plus. Also in August, Steve Jobs stepped down as chief at Apple because of his failing health. He died of cancer in October at

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