UK wellbeing still below financial crisis levels

A mix of deep recession and high inflation has left national wellbeing in Britain more than 13% down on its level before the global financial crisis, according to new government data.

EU to propose bank resolution agency in 2013: Barnier

(Reuters) - The European Commission will make a proposal next year for a joint agency for shoring up or closing troubled banks, Michel Barnier, the commissioner in charge of financial regulation, said on Monday.

European Countries Slashed Deficits in 2011, Data Show

PARIS — European countries sharply reduced their deficits last year, official data showed Monday, even as their overall debt grew as governments pushed ahead with austerity measures in the face of the euro crisis.

Angela Merkel's toughest political ally turns milder on Greece

MUNICH: German Chancellor Angela Merkel appears to have convinced the toughest audience in her political camp that Greece should be given the benefit of the doubt, and possibly more time to meet its painful savings targets.

Euro Zone Aid? Ask for the Bill in German

Germany's economy has defied gravity month after month, recording growth when many of the country's euro zone peers were struggling to avoid or emerge from recession, but even the so-called "engine" of Europe is now succumbing to the crisis.