Merkel Says Euro Crisis Recovery Is Worth Austerity Pain

Chancellor Angela Merkel said the promise of lifting the euro area out of its debt crisis is worth the pain that’s being caused by German-inspired austerity.

Poland could adopt euro in 2016: presidential adviser

WARSAW (Reuters) - Poland could adopt the euro as soon as 2016, the president's adviser said on Saturday, encouraging the government to take bolder action to prepare for possibility of joining the shared currency.

Spanish Bonds Rise After Debt Sale, EU Agreement on Greek Aid

Spanish bonds advanced for a third week in four as borrowing costs fell at a debt sale and after European leaders signed off on the next aid tranche for Greece, stoking optimism the euro-region debt crisis is being contained.

Greece bailout funds approved

Greece is to get the latest tranche of bailout funds needed to keep the country going, eurozone finance ministers have said.

Swiss Re sees 30% risk of Europe, U.S. recession in 2013

LONDON: There is a 30 percent chance of severe recession i n Europe and the United States next year, though moderately rising growth is the likeliest outcome, according to the world's No. 2 reinsurer.