The European Union's foreign policy chief says he expects the president-elect to move quickly to deal with top trans-Atlantic goals, including Middle East peace,  Iran and global warming.

European stocks slipped in a broad selloff, falling for the seventh day in nine sessions, with fresh fears over the financial sector knocking down banking shares such as Societe Generale.

European stocks slid 3.8 percent on Thursday as oil at $50 whipped energy shares and a fresh 20-percent slide in Citigroup on Wall Street rattled banks.

German Economy Minister Michael Glos said on Wednesday the European Union was planning a 130 billion euro ($164.1 billion) growth package for the bloc.

European stocks fell to a 5-1/2-year closing low on Wednesday, led down by banks and commodities on concerns over a deep recession, while profit worries punctured BASF and AstraZeneca.

The Irish government is keeping all options open on support for its banking industry, Prime Minister Brian Cowen said on Wednesday, playing down media reports of an imminent recapitalization plan.

European shares ended higher after a choppy session on Tuesday, helped by gains in energy shares and a rally on Wall Street on reassuring results from Hewlett-Packard, but weak financials capped advances.

European shares closed lower Monday as mounting concerns about a global recession and Citigroup's plan to slash about 50,000 jobs hurt bank stocks, while miners tracked weaker metals prices.

The European Union might complain to the World Trade Organization about U.S. plans to help its stricken car industry, European Commission President Jose Manuel Barroso said on Friday.

The euro zone economy fell into its first technical recession in the third quarter, boosting expectations that the European Central Bank would cut interest rates in December.

European stocks closed higher on Friday as oil shares powered ahead, but the day's rally lost some steam in late trade as poor economic data drove Wall Street lower.

European stocks fell on Thursday, declining for the fifth time in seven sessions and ending at their lowest closing level in two weeks on lingering worries over the global economy and corporate profits.

European shares slid on Wednesday, led lower by banks and oils that fell on worries of more losses and a darkening economic picture, and Wall Street fretted over changes to a $700 billion financial sector bailout.

European shares were seen rising on Wednesday, bouncing back after the previous session's 4 percent drop, while investors focused on a flurry of corporate results.

The group of euro-member countries fell into "a serious recession in September" and economic contraction will continue through next year, pushing interest rates sharply lower, Bank of America said in a research note Tuesday.