Slovenia debt to rise but no bailout needed: PM

UNITED NATIONS (Reuters) - Slovenia's economy, saddled by a banking crisis, does not need a financial bailout, even though public debt levels will likely breach European Union rules in two years, Prime Minister Janez Jansa said on Friday.

Greece's 2013 budget to deepens cuts, sustain recession

ATHENS (Reuters) - Greece will unveil a draft budget for 2013 on Monday which will cut deeper into public spending to impress international lenders but also prolong the economic pain of the Greek people.

Spain Budget Concentrates on Spending Cuts Over Revenue

MADRID (Reuters) - Spain announced a detailed timetable for economic reforms and a tough 2013 budget based mostly on spending cuts on Thursday in what many see as an effort to pre-empt the likely conditions of an international bailout.

Brent steady above $110 on supply woes, Euro crisis caps gains

SINGAPORE (Reuters) - Brent futures held steady above $110 on Thursday on renewed worries of supply disruptions from the Middle East, while an escalating euro zone debt crisis reinforced oil demand growth concerns and capped the gains.

Europe must take "deep breath" and enact reforms: Merkel

BERLIN (Reuters) - Chancellor Angela Merkel said on Tuesday that Europe could only hope to come out of its crisis stronger and compete in a globalised world if its members pressed ahead with painful reforms and moved to more responsible budget policies.

Spain's bailout hesitation 'highly risky': EU commissioner

BRUSSELS: Uncertainty over whether Spain intends to seek a full bailout is "highly risky", Joaquin Almunia, the EU's competition commissioner, warned Madrid during an interview with AFP.

Euro Posts First Decline in Six Weeks as Economic Growth Stalls

The euro fell for the first time in six weeks versus the dollar as reports showed the region’s economy struggling amid the debt crisis.

ECB may not supervise all banks - Merkel ally

(Reuters) - A senior conservative ally of German Chancellor Angela Merkel has suggested the European Central Bank may not get new powers to supervise all of the euro zone's banks and said the existing European Banking Authority could be enhanced instead.

Spain Sale Improves Funding Prospects

Spain's ailing finances got a needed boost Thursday from the sale of long-dated debt, much of it to foreign buyers, clearing the biggest hurdle for the country since the European Central Bank signaled two weeks ago that it stood ready to buy bonds of fiscally frail euro-zone members.

Greece becoming more competitive, must stay in euro: Juncker

(Reuters) - Greece's competitiveness has greatly improved and its wage costs have fallen significantly and the euro zone must strive to keep the country as a member, the chairman of the Eurogroup of finance ministers said on Tuesday.

Swiss banks to suffer big withdrawals over tax: UBS

ZURICH: UBS expects Swiss banks to see European clients withdraw "hundreds of billions of francs" as a result of steps to stop foreigners using secret accounts to evade taxes.

Hungary to respond to IMF/EU by mid-week: minister

BUDAPEST (Reuters) - Hungary will send its proposals to international lenders by the middle of next week to allow credit talks to resume but will not modify its economic projections for 2013, the minister in charge of talks with the IMF and EU said on Sunday.

Europe at loggerheads over banking union

European finance ministers clashed over plans for a banking union on Saturday, with Germany leading criticism of proposals to introduce a single banking supervisor by January.

Eurozone crisis: Greece may gain more time to pay debts

Eurozone finance ministers hinted on Friday that Greece may be given more time to pay its debts, though they ruled out a third bailout, which most economists believe will be needed before Athens can get back on its feet.

Eurozone crisis: Spain refuses bailout terms

Mariano Rajoy, the Spanish prime minister, has said he is more determined than ever to avoid having to ask for a bailout – despite the insistence last week by ECB president, Mario Draghi, that it would be a condition of the central bank helping to keep down a country's borrowing costs.

Analysis: Hollande's growth goal gutted by deficit plans

PARIS (Reuters) - French President Francois Hollande has set himself a deadline to turn around the economy by the end of 2014, but having hamstrung the effort with tax rises to meet deficit targets, economists doubt his growth goals will ever fly.

Inspectors Reject Some Cuts by Greece

ATHENS—Visiting international inspectors on Sunday rejected parts of Greece's proposed austerity plan, forcing the country's coalition government to seek fresh spending cuts to meet creditors' demands.

Fate of eurozone rests in the hands of German judges

They have the potential to throw the stock exchange into turmoil, trigger frenzy on bond markets and bring down the German government.

Euro Rises Most in 6 Months on ECB Plan; Payrolls Weaken Dollar

The euro posted its biggest advance in six months versus the dollar after European Central Bank President Mario Draghi pledged to buy bonds to contain the region’s debt crisis.

Spain to remain careful, calm on aid request decision

MADRID: Spain will analyse the conditions and modalities of the European Central Bank's bond-buying programme carefully and at length before taking a decision on an aid request, Spain's Deputy Primer Minister Soraya Saenz de Santamaria said on Friday.

Key ECB steps to combat Europe's debt crisis

FRANKFURT, Germany (AP) — Here are some of the key steps the European Central Bank has taken to ease Europe's financial crisis and provide a spark to the weak economy.

Longer working week suggested for Greece

Greece's international lenders have suggested measures including increasing the maximum working week to six days.

Moody's puts European Union on notice

NEW YORK (CNNMoney) -- Moody's put the European Union on notice Monday that its top-notch Aaa rating is at risk of downgrade, cutting the outlook on the EU's creditworthiness to "negative" from "stable" because of the continent's ongoing debt crisis.

Eurozone manufacturing PMI falls again in August

Manufacturing output across the 17-country eurozone shrank again in August, according to a widely-watched survey.

French PM warns vote vs fiscal pact would weaken Hollande

(Reuters) - French Prime Minister Jean-Marc Ayrault sought to rally a divided left behind the European Union's fiscal compact, arguing that anything but a strong endorsement would weaken President Francois Hollande and France itself.

Debt crisis: OECD backs plans for ECB bond market intervention

The OECD has waded into the dispute over emergency measures to prop up Spain and Italy, backing plans for the European Central Bank to buy up debt of struggling eurozone nations.

Europe crisis: Spain creates bad bank, paves way for rescue funds

MADRID: Spain overhauled its banks for the fifth time in three years on Friday to secure up to 100 billion euros ($125 billion) in European aid for lenders crushed by bad loans from an extended property market crash.