Germany agrees 'historic' balanced budget for 2014

BERLIN: The German government on Wednesday approved a draft budget for 2014 with the lowest deficit in 40 years, hailed by the economy minister as a "historic" step in the battle against debt.

Osborne faces limited budget options

LONDON (Reuters) - Chancellor George Osborne has limited options for pulling the economy out of its rut when he presents his fourth annual budget on March 20.

Spain hasn't seen unemployment this bad since Franco

Not since the days of Franco has Spain suffered such high unemployment rates. The country was virtually a feudal, agrarian economy the last time almost six million workers were unemployed.

Italy’s Rating Cut by Fitch as Election Threatens Gridlock

Italy’s credit rating was cut one level by Fitch Ratings as an inconclusive election in February produced political paralysis that threatens the country’s ability to respond to a recession and the European debt crisis.

Greece may still have to quit euro - Merkel ally

BERLIN (Reuters) - Greece remains the biggest risk for the euro zone despite a calming of its economic and political crisis and may still have to leave the common currency, a senior conservative ally of German Chancellor Angela Merkel said.