French Market Declines

(RTTNews.com) - The French market is in negative territory on Wednesday, as worries about the fiscal cliff in the U.S. escalated with the remarks of Senate Majority Leader Harry Reid on Tuesday.

Portugal parliament approves 2013 austerity budget

LISBON: Portugal's parliament gave final approval on Tuesday to a 2013 budget which promises a third year of recession and the biggest tax hikes in modern history to ensure international bailout terms are met.

EU leaders gear up for round two of budget negotiations

BRUSSELS: The collapse of EU talks Friday without agreeing a seven-year budget is not calamitous, the bloc will continue to function, but it does heap yet more pressure on a divided European Union mired in an intractable debt crisis.

Analysis: German hint of Greek debt relief raises euro hopes

BRUSSELS (Reuters) - Three years into the euro zone's debt crisis, Germany's finance minister hinted tantalisingly last week at a potential breakthrough.

Italy's lower house approves Monti's budget plans

(Reuters) - Italy's lower house of parliament on Thursday approved a package of budget measures including a sales tax hike and a cut in some payroll taxes, aimed at helping the government reach its deficit-cutting targets.