S&P declares Greek 'selective default' after bailout

Rating agency Standard & Poor's has classified Greek debt as in "selective default" following the deal it made with creditors to reduce its debts.

For Spain, an Economic Lifeline from China

With an unemployment rate of 22.8 percent, the euro zone’s highest, Spain appears to be spiraling back into recession. Yet the Cobo Calleja industrial park 15 miles south of central Madrid shows few signs of economic distress.

European Union firewall decision 'in course of March': Germany

MEXICO CITY: Europe will decide whether to bolster its firewall against the debt crisis "in the course of March," Germany's finance minister said Sunday, appearing to downplay the chances of a result at an upcoming EU summit.

Greece passes private creditor debt deal

ATHENS: The Greek parliament approved Thursday a law on a historic 107-billion-euro debt writedown with private creditors, a key element in a new eurozone bailout designed to avoid default.

Swedish firms want to adopt the euro

Swedish companies, relatively unscathed by the European debt crisis, dislike the Swedish economic model's inertia, want reforms to boost their competitiveness, and want to adopt the euro, their representatives say.

Battle over EU financial firewall threatens to derail Greek bailout

At a G20 summit in Mexico in two days the EU will plead for increased IMF contributions by non-euro countries to help shore up a eurozone "financial firewall" seen as vital to protecting Spain and Italy from Greek debt contagion.

European stocks rise on Greek bailout hopes

European stock markets rose on Monday on growing signs that a new bailout for Greece could be finalised at last while sentiment got a boost by the latest Chinese move to ease credit.

Euro-Zone Crisis Forces Regional Markets To Expand

The euro-zone debt crisis may be squeezing capital out of emerging economies, but it is also cultivating much-needed regional depth in developing countries’ financial markets, says Lars Thunell, head of the World Bank’s International Finance Corp.

ECB considers losses on Greek bonds held by national banks

(Reuters) - The European Central Bank is weighing up whether to allow the Greek bonds held in national euro zone central banks' investment portfolios to be subjected to the same writedowns private investors are set to take, central bank sources told Reuters.

2012 will be a worse year for equities than 2011: Jim Walker

MUMBAI: Warning that negative signs persist in the global economy, Jim Walker, Founder of Asianomics on Tuesday said that he could see a re-run of the beginning of 2008 financial crisis.

Spain approves labor reforms to boost sick economy

MADRID (AP) — Spain’s new conservative government approved sweeping labor market reforms Friday as part of a drive to revive a sick economy and solve Europe’s worst unemployment nightmare — a jobless rate of nearly 23 percent.

Moody's Issues Credit Warnings To 9 European Countries, Austria, France and U.K. Among Them

Britain's AAA credit rating was thrown into doubt after the ratings agency Moody's said the ongoing euro crisis and a credit squeeze on the banking sector put the country at a higher risk of defaulting on its debts.Moody's credit agency has cut the credit ratings of nine European countries including the U.K.

Greece still to convince Europe over rescue deal

(Reuters) - Europe gave Greece until Wednesday to convince skeptical international creditors that it would stick to the punishing terms of a multi-billion-euro rescue package, endorsed by parliament as rioters torched downtown Athens.

Wayne Swan Says Global Slowdown Affecting Australian Economy

Feb. 13 (Bloomberg) -- Australia’s economy, buoyed by demand from China for iron ore and coal, is feeling the impact of a global slowdown as employers defer hiring new workers on European uncertainty, Treasurer Wayne Swan said.

Obama to meet Italian PM on euro crisis

WASHINGTON: Barack Obama turns his focus Thursday to a crisis that could conceivably end his presidency, but over which he has little control, welcoming Italy's Prime Minister Mario Monti for Europe debt talks.

Euro debt crisis weighs on insurers' 2011

LONDON (Reuters) - Near-record catastrophe claims, the euro zone debt crisis and low interest rates are likely to result in mostly weaker 2011 profits for European insurers.

Greek Premier Seeks Rescue Consensus Amid Political Quarrels

Feb. 8 (Bloomberg) -- Greek Prime Minister Lucas Papademos is set to negotiate with leaders of the political parties supporting his caretaker government after he missed another deadline to secure a second aid package.

Swiss risk deflation if euro crisis worsens: Jordan

GENEVA/ZURICH (Reuters) - The Swiss National Bank fears that an escalation of the euro zone's debt crisis could prompt deflation, Thomas Jordan said in his first speech since becoming interim chairman of the central bank, stressing his determination to keep a lid on the franc.

UK's Hague: Euro-Zone Debt Crisis Biggest Threat To UK

LONDON – The ongoing sovereign debt crisis in the euro zone is the biggest threat to U.K. prosperity, U.K. foreign minister William Hague said Monday.

Greece crisis talks over EU bailout to resume

Party leaders in Greece's governing coalition are to resume crisis talks on backing a 130bn-euro (£108bn; $171bn) European Union rescue plan.

Markets warm to European debt, Portugal pressure eases

(Reuters) - Cautious optimism that the euro zone crisis may be turning a corner fuelled demand for European government debt on Wednesday, easing pressure on Portugal, seen as the most vulnerable country after Greece.

Monti Says Overhauling Italy’s Firing Rules Can’t Be ‘Taboo’

Feb. 2 (Bloomberg) -- Italy’s rigid firing rules can hurt economic growth and changing them to make it easier for companies to shed workers can’t be “taboo,” Prime Minister Mario Monti said.

Euro-Zone Banks To Tighten Credit Conditions Further In 1Q

FRANKFURT -- Euro-zone banks expect to tighten credit conditions further in the first quarter on top of a surge in tightening already in the fourth quarter of last year as a result of the deepening sovereign debt crisis, while they see their wholesale funding conditions easing somewhat due to the European Central Bank's non-standard measures, the ECB said Wednesday.

Euro jobs crisis puts Germany at core of growth debate

LONDON (Reuters) - The euro zone creaked under the weight of record unemployment at the end of 2011 while jobless rates in Germany fell to historic lows, putting the onus firmly on Europe's top economy to take the lead in steering the struggling region back to recovery.