Andrew Tyrie urges IMF to lead the fight against the eurozone 'fire', sees Greek exit from euro

The International Monetary Fund must take decisive control of the eurozone crisis or risk a “global economic fire”, Andrew Tyrie, the chairman of the Commons Treasury Select Committee, has warned.

G-7: We're watching Europe's debt crisis

NEW YORK (CNNMoney) -- Finance ministers from the world's seven largest economies held a conference call Tuesday about the ongoing European sovereign debt crisis, but did not announce any new rescue measures.

Closures, shortages loom as insurers exit Greece

ATHENS: Faced with the prospect of closing his family business and looking for work in Greece's sickly economy at the age of 65, Alkis Iliadis bemoans a decision by trade insurers to stop covering exports to his debt-choked country.

Spain's manufacturing sector sees contraction worsen

The rate of contraction in Spain's manufacturing sector was worse than that of Greece in May, according to a business survey. Markit's eurozone manufacturing purchasing managers' index for the whole eurozone dropped to 45.1 from 45.9 in April.

Eurozone unemployment at record high 11%

NEW YORK (CNNMoney) -- The 17-nation eurozone's unemployment rate reached the highest level since the creation of the common currency 13 years ago, climbing to 11% in April as employers slashed 110,000 jobs.