Italy's Monti faces vital test on labor reform

ROME (Reuters) - Prime Minister Mario Monti began a final push on Tuesday to forge a deal with trade unions on labor reform that is a crucial test of his ability to revive Italy's chronically uncompetitive economy.

After Greek Default, Spain And Portugal Pose Major Risk

Markets have begun digesting Greece’s managed default, with the Hellenic Republic’s new bonds trading at distressed levels.