Italy debt to reach peak of 130.4% in 2013: government

MILAN: Italy's public debt level will reach a peak of 130.4 per cent of gross domestic product ( GDP) this year, according to a long-term budget programme issued on Wednesday that forecasts growth will pick up and debt go down starting from next year.

Spain rating risk driven by deficit, says Moody's

MADRID: The likelihood that Spain will miss its public deficit target this year leaves its sovereign rating at risk of slipping below investment grade, credit agency Moody's said on Tuesday.

Slovenia Faces ‘Severe’ Banking Crisis in Recession, OECD Says

Slovenia, hit hard by a boom-bust cycle and the euro area’s debt woes, faces a “severe” banking crisis if it doesn’t act quickly, the Organization of Economic Cooperation and Development said.

German Industrial Production Increased in February

German industrial output rebounded in February, adding to signs that Europe’s largest economy is stabilizing after a contraction in the fourth quarter.

Amid financial crisis, Cyprus convicts offer help

NICOSIA: With Cyprus' economy falling apart, even those behind prison bars are pulling together to help people in need.