European Stocks Gain Before Greek Debt-Swap Deadline; EADS Rises on Payout

European stocks rose for a second day as Japan’s economy shrank less than the government initially estimated and a deadline on Greece’s debt swap approached. Asian shares and U.S. index futures gained.

Carefully Orchestrated Moves Set Stage for Greek Debt Deal

LONDON—Greece is unlikely to get all of its bondholders to agree willingly to a debt-restructuring plan before a Thursday deadline, but it repeated Tuesday that it is ready to force the deal through by other means.

Analysis: Out of intensive care, Europe risks chronic illness

(Reuters) - The euro zone is out of the emergency ward, but it may face a chronic debilitating illness rather than a rapid convalescence.

Spain planning to breach EU budget targets, warns prime minister Mariano Rajoy

Mariano Rajoy, prime minister of Spain, said the budget deficit would be 5.8pc of GDP in 2012 - more than 30pc higher than the 4.4pc target agreed by Brussels.

Euro Declines After ECB Approves Record Loans; Dollar Gains Versus Yen

The euro fell against most of its major counterparts after a liquidity injection by the European Central Bank failed to convince investors that the region’s crisis is abating.