Hungary PM backs down, seeks fast aid deal

(Reuters) - Hungarian Prime Minister Viktor Orban gave the first concrete evidence on Friday that he is backing down in a dispute with the European Union, aiming to free up talks on aid needed to prop up its battered financial markets.

Europe’s ESM Foresees Bond Clauses, IMF Restructuring Standards

Jan. 20 (Bloomberg) -- Europe’s planned permanent rescue fund may require clauses in new bond issues that would leave the door open for debt restructurings, while deeming writeoffs “exceptional” and subject to International Monetary Fund standards, according to a draft text.

Relief in Spain, tension in Greece for euro zone

(Reuters) - The embattled euro zone cleared a major funding test on Thursday when Spain romped through a key bond sale, while signs pointed to only a mild recession for the 17-nation bloc.

UK faces request for £19bn as IMF boosts bailout fund to $1tn

The government has said it will demand improvements in European Union efforts to sort out its currency before it can agree to an imminent request from the International Monetary Fund for extra UK funds that is likely to be as high as £19bn.

Exodus of Workers From Continent Reverses Old Patterns

Soon after Spain's real-estate bust put Andrés Velarde and María Palencia out of work, the young architects gathered their drafting materials and moved 5,000 miles to Brazil—drawn by a hope, but no promise, of employment.