After Years of Pain, Greece Expects a Budget Surplus

ATHENS — Offering the first real hope that Greece could emerge from a six-year recession, the government on Monday presented a draft budget for next year forecasting a tenuous return to growth.

Inquiry blames Cypriot ex-president for crisis

NICOSIA, Cyprus (AP) -- The "reckless" economic policies of Cyprus' former president are mainly to blame for the financial crisis that brought the country to near bankruptcy, an independent inquiry concluded Monday.

Iceland rises from the ashes of banking collapse

A new mood of proud nationalism is emerging in economically resurgent Iceland after an out-of-control banking system sank the country into financial meltdown exactly five years ago.

Euro zone turns from financial to political crisis

LONDON (MarketWatch) — A political crisis in Italy threatens fresh elections. The Portuguese government takes a hammering at the polls.Austria sees an upsurge in far-right and anti-euro parties. Germany drifts on without a government. Far-right parliamentarians are being arrested in Greece.

Russia services sector posts sluggish growth in September: PMI

MOSCOW: Growth in Russia's services sector slowed slightly in September as new business expanded only modestly and companies became more pessimistic about future orders, a business survey showed on Thursday.