Greece’s leftwing Syriza-led government has presented more tax and pension reforms to parliament amid growing concerns that the package of measures will prolong the country’s six-year recession, the Financial Times reported. The proposals are being discussed under emergency procedures so that Greece can meet a weekend deadline set by creditors for implementing a tough front-loaded package of fiscal and structural measures in return for an €86bn bailout.

Former Anglo Irish Bank chief executive David Drumm is charged with 33 offences, including forgery, conspiracy to defraud, false accounting and breaches of Irish company law and EU law, US court records show, the Irish Times reported. Each offence carries maximum sentences ranging from five years’ imprisonment up to an unlimited term of imprisonment, according to legal records submitted to the US District Court in Massachusetts. Details of the charges against Mr Drumm emerged after the legal case against him was unsealed and made public by the American court.

Papierfabrik Walsum has postponed the opening of insolvency proceedings again. In reply to an enquiry, the spokesman for the responsible lawyers office, HRM Henneke Röpke Partnerschaft Rechtsanwälte, said that negotiations are still underway with potential investors. It was added that demand for the products of the Norske Skog subsidiary enables the paper machine to continue to run at full capacity, and customers welcome the change in the product mix. Regular insolvency proceedings are now likely to be opened on 1 November.

The ailing mining and trading giant Glencore has intensified efforts to slash its $30bn (£20bn) debt pile by putting copper mines in Australia and Chile up for sale, The Independent reported. Glencore said it was ready to spin off the Cobar mine in New South Wales and the Lomas Bayas mine in Chile’s Atacama desert, following “a number of unsolicited expressions of interest for these mines from various potential buyers”. Citi analysts put a potential $1bn price-tag on the two mines, based on a long-term copper price of $6,200 a tonne.

Several European countries are taking action to water down new global capital rules for their biggest financial institutions, causing concern among investors and EU officials, the Financial Times reported. France is set to become the latest country to introduce legislation that would save its leading banks from having to issue tens of billions of euros of bonds to meet the rules agreed by global regulators a fortnight ago, people familiar with the situation said. Italy and Germany have begun similar processes.

Greece’s parliament Monday began debating the first bill containing tough austerity measures and economic overhauls agreed under its new bailout program, The Wall Street Journal reported. The bill, which is expected to go to a vote on Friday, includes stricter pension rules, tax hikes and tougher fines for tax evasion.

The Insolvency Service of Ireland has said its latest report shows a continuing take up of the newly introduced alternative solutions to bankruptcy, RTÉ reported. In a report detailing its work for the third quarter of the year, the ISI said that almost 500 new applications were made to its service in the three months from June to September. The total debt involved in the new cases created in the third quarter was about €186m and the total debt involved in bankruptcy adjudications for the same period was roughly €129m.

Volkswagen has already set aside billions in potential costs related to its emissions-rigging scandal, the Irish Times reported. Mounting speculation that the crisis-stricken company will sell stock to raise funds is sending its non-voting shares to the biggest discount versus voting ones in six years. A capital increase would dilute the value of the more commonly traded, non-voting stock - and investors have taken note. The price of those shares has fallen €25.60 below its less-traded stock, reversing a premium from before the scandal broke.

As financial leaders gather this week to assess the health of the world economy, one of the central topics for discussion will be how ready markets are for a crisis in a large developing economy such as China, Turkey or Brazil, the International New York Times reported. At the center of this debate will be the question of whether the International Monetary Fund still has the ability to act effectively if — as some experts fear — emerging markets begin to crumble under the weight of heavy debt.

After a tumultuous year for Greeks, their politicians and their banks, a new Syriza-led government must by next week legislate measures to recapitalise all four lenders with about €15bn of money from the country’s €86bn third bailout, the Financial Times reported. There is no room this time for the slippage that marked the previous Syriza administration’s attempts at structural reform.