Doubts Linger Despite Show of Euro-Zone Unity

BRUSSELS—European leaders' new measures Friday to tackle the euro zone's debt crisis—promising to use their sizeable rescue funds more flexibly and pave the way for the European Central Bank to assume an expanded role as supervisor for the euro zone's banking sector—were welcomed as a rare bold step in the right direction.

Euro to Hit $1.20 as Crisis Worsens, State Street Says

The euro will probably drop to $1.20 by year-end as Europe’s debt crisis worsens before it improves, according to State Street Corp. (STT), which oversees $16.9 trillion in custody assets.

Eurozone crisis causes aid cuts to poor, report says

The European debt crisis has led to cuts in government development aid to poor countries, says a new report by the aid watchdog Data. It is the first significant reduction in Europe-wide aid budgets for a decade.

Cyprus to hold crisis talks as bailout looms

(Reuters) - Cyprus' leaders will discuss on Tuesday options for reviving an economy on the verge of succumbing to a bailout, with a debate raging on whether the country should seek aid from the EU's rescue fund or look further afield.

Ten EU nations to press ahead with market transaction tax

BERLIN: Germany and nine other European Union nations will press ahead with plans to introduce a financial market transaction tax, following failed attempt for an agreement to levy it across the EU.