UK unemployment rises by 28,000 to 2.67m, ONS reports

UK unemployment rose by 28,000 to 2.67 million during the three months to January, with the unemployment rate at 8.4%, according to figures from the Office for National Statistics (ONS).

EU bars Hungary's 2013 aid funds, may reconsider in June

BRUSSELS/BUDAPEST (Reuters) - EU finance ministers suspended on Tuesday Hungary's access to half a billion euros in aid from next year for failing to keep its budget in check, but told Budapest it could escape the sanctions if it takes remedial fiscal action by June.

After Greek Default, Spain And Portugal Pose Major Risk

Markets have begun digesting Greece’s managed default, with the Hellenic Republic’s new bonds trading at distressed levels.

Greece Deal Triggers $3B in Default Swaps: ISDA

A committee of credit-default swaps traders will expedite an auction to settle about $3 billion of contracts tied to Greece after the nation took steps to force investors to participate in the biggest sovereign-debt restructuring in history.

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.