Greek bailout gives Europe time to build defenses

WASHINGTON: Greece got the rescue. But it's the rest of Europe that's breathing easier. A $172 billion ((euro) 130 billion) bailout isn't likely to keep Greece from eventually defaulting on its debts and abandoning the euro, many economists say.

Analysis: Question of balance as euro zone crisis mutates

LONDON (Reuters) - With Greece's second bailout seemingly in the bag at last, Spain is shaping up as the next big test of whether euro zone policymakers can keep striking the right balance between carrot and stick to reconcile the very different interests of lenders, debtors and markets.

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.