French Economy Stagnates as State Spending Prevents Recession

The French economy will fail to grow in the second half, extending stagnation to five quarters, national statistics office Insee predicted yesterday.

Debt crisis: Spain's forecasts are 'optimistic', says Governor of the Bank of Spain

The Governor of the Bank of Spain warned that Madrid’s financial forecasts are “optimistic” adding to the mounting pressure on Mariano Rajoy from European Central Bank and the International Monetary Fund.

Portugal announces higher taxes as strike is called

Portugal has announced several new austerity measures, which were met with a call for a huge strike next month.

Spain's PM says bailout not imminent

Spain's prime minister, Mariano Rajoy, has ruled out a multi-billion euro bailout before this weekend, despite the worsening economic situation and pleas from Madrid's neighbours for a resolution to the current crisis.

Greek Budget Predicts Economy Will Shrink for Sixth Year

Greece’s economy will contract for a sixth year in 2013 as the government prepares further cuts to pensions, wages and social benefits to meet the terms of its bailout packages.