Italy's Renzi says to use EU presidency to push for budget flexibility pact

FLORENCE, Italy (Reuters) - Italy will propose offering European Union member states that undertake structural reform more flexibility on budget rules when Rome assumes the presidency of the 28-member bloc later this year, Prime Minister Matteo Renzi said on Friday.

Double ratings boost for Portuguese economy

Lisbon (AFP) - The Portuguese economy has received a double boost as ratings agency Moody's raised its debt rating one notch to Ba2, hours after fellow agency Standard & Poor's upgraded the country's credit outlook.

Lithuanian President Cites Russia Threat in Election Race

Lithuanian President Dalia Grybauskaite used the last debate before for the May 11 election to focus on Russia’s expansionism, which is fueling concern in the Baltic countries.

Draghi, worried by strong euro, says ECB poised to act as soon as June

(Reuters) - The European Central Bank is ready to take action next month to boost the euro zone economy if updated inflation forecasts merit it, its president said on Thursday, warning outsiders not to pressure the bank into action.

Euro Rises on Upbeat Economic Data

The euro surged to its highest level against the dollar in seven weeks after a run of upbeat European manufacturing and services data.