Greece deal nears as PM warns of eurozone collapse

Brussels (AFP) - The EU's top official for the euro said Tuesday that Greece and its creditors could be just days from reaching a bailout deal as Prime Minister Alexis Tsipras warned that failure could sink the eurozone.

Greece TV: Samaras in crisis talks with allies

The Greek Prime Minister, Antonis Samaras, is holding crisis talks with coalition allies over his decision to shut down the national broadcaster.

Eurozone falls back into recession

The eurozone has returned to recession as the region's debt crisis continues to hurt demand, figures show.

Debt crisis: Spain's forecasts are 'optimistic', says Governor of the Bank of Spain

The Governor of the Bank of Spain warned that Madrid’s financial forecasts are “optimistic” adding to the mounting pressure on Mariano Rajoy from European Central Bank and the International Monetary Fund.

Longer working week suggested for Greece

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

Spain's manufacturing sector sees contraction worsen

The rate of contraction in Spain's manufacturing sector was worse than that of Greece in May, according to a business survey. Markit's eurozone manufacturing purchasing managers' index for the whole eurozone dropped to 45.1 from 45.9 in April.

Markets braced for shift away from austerity as Francois Hollande wins French election

Financial markets are braced for a radical shift in economic policy and fresh question marks over a eurozone break-up, as Francois Hollande moves into the Elysee Palace on Monday as the first Socialist president of France for 30 years.

Spain urges prudence in comments on economy, reforms praised

Spain urged its EU peers to be "prudent" when making comments about its economic woes on Wednesday following criticism from France and Italy, even as it got praise for its reforms from across the bloc.

Germany to Europe: Don't criticize us on eurocrisis leadership

The euro crisis: It sounds like an arcane finance story. But as Germany sets the tone and the rules, the crisis has great meaning for Europe's future.

French and German relief as Greek haircut not expected to trigger CDS

Major French and German financial institutions will be saved billions of euros in payouts if – as expected – the 50pc haircut on Greek government debt does not trigger credit insurance contracts

German court rejects challenge to eurozone bailouts

Germany's highest court has rejected a challenge to the country bailing out other nations in the eurozone.

The Constitutional Court was responding to a challenge brought by six prominent German Eurosceptics.

But the court did say the government must seek the approval of the German parliament before providing future assistance.