Tax burden on wages in rich countries rose again in 2013: OECD

(Reuters) - Taxes on wages rose across industrialized countries last year, as governments sought to reduce budget deficits blown out by efforts to tackle years of economic weakness following the financial crash.

Cyprus receives EU-IMF bailout funds

Cyprus has received the first instalment of a 10bn-euro bailout package from international creditors, which was agreed earlier this year.

Slovenia Faces ‘Severe’ Banking Crisis in Recession, OECD Says

Slovenia, hit hard by a boom-bust cycle and the euro area’s debt woes, faces a “severe” banking crisis if it doesn’t act quickly, the Organization of Economic Cooperation and Development said.

Italy’s Rating Cut by Fitch as Election Threatens Gridlock

Italy’s credit rating was cut one level by Fitch Ratings as an inconclusive election in February produced political paralysis that threatens the country’s ability to respond to a recession and the European debt crisis.

Tens of thousands in Spain protest economic policy, corruption

MADRID: Tens of thousands of Spaniards marched through cities across the country on Saturday to protest deep austerity, the privatisation of public services and political corruption.

UK to announce 5 billion pounds capital investment for growth

LONDON (Reuters) - Chancellor George Osborne will invest 5 billion pounds in schools, science and transport projects, the government said on Tuesday.

IMF chief urges action in tackling euro crisis

TOKYO (AP) — The head of the International Monetary Fund on Thursday called for urgent action to tackle Europe's debt problems and an approaching fiscal crisis in the U.S., warning that the struggling world economy is already falling short of even pessimistic expectations.

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.

Euro zone crisis heads for September crunch

BRUSSELS (Reuters) - Over the past couple of years, Europe has muddled through a long series of crunch moments in its debt crisis, but this September is shaping up as a "make-or-break" month as policymakers run desperately short of options to save the common currency.

Spain's Leader Faces Doubts At 'Extreme Crunch Time'

MADRID—Six months after Prime Minister Mariano Rajoy won a parliamentary majority by promising to bring credibility and stability back to fiscally troubled Spain, doubts are growing over when and whether it's happening.

Germany insists no eurobonds to solve debt crisis

BERLIN: Germany has again made clear its opposition to French proposals for jointly-issued bonds from the 17-nation eurozone as a way to create economic growth and ease the region's financial crisis.