Central Banks Across the World Pressured to Fight Against Euro Depreciation

Greece’s debt turmoil has found a favorite conduit for spreading contagion: the $5.3 trillion-a-day foreign-exchange market.

Crisis clouds gather over German economy

FRANKFURT: Exports and consumer demand are cushioning Germany against recession, data showed on Thursday, but crisis clouds are gathering over Europe's biggest economy as business confidence falls sharply.

Eurozone crisis: Germany and France clash over eurobonds at summit

European leaders were locked in deep divisions over the future of Greece and the single currency, with Germany and France at loggerheads for the first time in 30 months over how to restore confidence in the euro.

The Euro Crisis: Big Rescue, Big Doubts

This time is different. Really. That was the message from European leaders after the 11th debt-crisis summit in 17 months produced an additional €109 billion ($157 billion) in loans for deficit-bloated Greece, easier aid terms for Ireland and Portugal, and a retooled bailout fund to prevent markets from trashing Spain and Italy as well. The euro, as well as the distressed countries’ bonds, rallied.

UPDATE: Schaeuble Says Single Summit Can't Solve Debt Crisis

LONDON (Dow Jones)--The euro zone's debt crisis isn't over and discipline needs to be maintained to stop it spreading further, according to German Finance Minister Wolfgang Schaeuble.

In a letter to party comrades in the Bundestag, seen by Dow Jones Newswires, Schaeuble warned "it would be a mistake to think that the crisis of trust in the euro area can be solved by a single summit," although he argued that last week's decisions by heads of government were "an important step towards overcoming the Greek crisis and the preservation of financial stability."

Greeks hold crunch austerity talks amid aid threat

ATHENS - Greece's prime minister held talks with opposition leaders in a last-ditch attempt to win their support for more austerity and free up EU/IMF aid needed to avert a debt default.

Financial markets were spooked when Jean-Claude Juncker, who chairs meetings of euro zone finance ministers, warned that the International Monetary Fund could withhold its contribution to a €12 billion ($A16 billion) aid tranche Greece needs next month to service its massive debt mountain.

Euro Drops to Lowest Level in Seven Weeks Against Dollar Amid Greek Crisis

The euro dropped to a seven-week low versus the dollar as Greece moved closer to defaulting on its obligations, bolstering concern the region’s sovereign-debt crisis is worsening.

The yen reached its strongest level versus the euro since the Group of Seven nations intervened in March to curb its gains after a record earthquake. Greece’s debt rating was cut by Fitch Ratings. Spanish voters may defeat Prime Minister Jose Luis Rodriguez Zapatero’s Socialists, who have cut spending to fight the debt crisis, in regional elections Sunday, polls show.