Greece's 2013 budget to deepens cuts, sustain recession

ATHENS (Reuters) - Greece will unveil a draft budget for 2013 on Monday which will cut deeper into public spending to impress international lenders but also prolong the economic pain of the Greek people.

Spain Budget Concentrates on Spending Cuts Over Revenue

MADRID (Reuters) - Spain announced a detailed timetable for economic reforms and a tough 2013 budget based mostly on spending cuts on Thursday in what many see as an effort to pre-empt the likely conditions of an international bailout.

Brent steady above $110 on supply woes, Euro crisis caps gains

SINGAPORE (Reuters) - Brent futures held steady above $110 on Thursday on renewed worries of supply disruptions from the Middle East, while an escalating euro zone debt crisis reinforced oil demand growth concerns and capped the gains.

Europe must take "deep breath" and enact reforms: Merkel

BERLIN (Reuters) - Chancellor Angela Merkel said on Tuesday that Europe could only hope to come out of its crisis stronger and compete in a globalised world if its members pressed ahead with painful reforms and moved to more responsible budget policies.

Spain's bailout hesitation 'highly risky': EU commissioner

BRUSSELS: Uncertainty over whether Spain intends to seek a full bailout is "highly risky", Joaquin Almunia, the EU's competition commissioner, warned Madrid during an interview with AFP.