Bundesbank: German economy to avoid recession

FRANKFURT (AP) — German's central bank says the country's economy is on track to avoid a recession as it shows signs of growth in the first three months of the year.

Cyprus votes for leader to steer it past financial storm

(Reuters) - Cypriots went to the polls on Sunday to elect a president who must negotiate a financial rescue to save the island country from a bankruptcy that would reignite the euro zone debt crisis.

Europe to call on Japan, U.S. to consolidate public finances

MOSCOW (Reuters) - The European Union will urge the United States and Japan on Friday to consolidate public finances over the medium term to remove what it believes is one of the main risks to the global economy now.

Eurozone must push ahead with banking union or risk recovery, says IMF

Eurozone countries must implement a planned banking union in full as backsliding could throw the economy into a tailspin, an International Monetary Fund staff paper has concluded.

Euro-Area Economy Shrinks Most Since Depths of Recession

The euro-area recession deepened more than economists forecast with the worst performance in almost four years as its three biggest economies suffered slumping output.