EU says Ireland may need to revise budget

(Reuters) - Ireland may need to make further changes to its budget this year if the economy continues to deteriorate, the European Commission said on Wednesday in a draft of a report obtained by Reuters.

S&P declares Greek 'selective default' after bailout

Rating agency Standard & Poor's has classified Greek debt as in "selective default" following the deal it made with creditors to reduce its debts.

For Spain, an Economic Lifeline from China

With an unemployment rate of 22.8 percent, the euro zone’s highest, Spain appears to be spiraling back into recession. Yet the Cobo Calleja industrial park 15 miles south of central Madrid shows few signs of economic distress.

European Union firewall decision 'in course of March': Germany

MEXICO CITY: Europe will decide whether to bolster its firewall against the debt crisis "in the course of March," Germany's finance minister said Sunday, appearing to downplay the chances of a result at an upcoming EU summit.

Greece passes private creditor debt deal

ATHENS: The Greek parliament approved Thursday a law on a historic 107-billion-euro debt writedown with private creditors, a key element in a new eurozone bailout designed to avoid default.