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European leaders meeting in Brussels agreed Thursday to devote $149 billion for "immediate growth measures" to try to dig the continent's weakest economies out of crisis
European leaders agree more needs to be done to stimulate growth and regulate banks, though sharp divisions remain over the issue of pooling government debt as a way to ease the continent's financial crisis
Leaders meet Thursday and Friday to deal with the European debt crisis; few results are expected
Doubts over the ability of European leaders to cobble together measures to deal with the debt crisis kept markets on edge
Officials from the European Commission, the European Central Bank and the International Monetary Fund will begin assessing next week how much bailout money Cyprus will need to prop up its banks and flagging economy, the country's finance minister said Wednesday.
Meanwhile, Italy is raising $2.1 billion to shore up the world's oldest running bank, Monte dei Paschi di Siena
Egan-Jones says it has downgraded Germany from AA- to A+ and has issued a negative watch for the country's sovereign debt amid Europe's lingering debt crisis
Yannis Stournaras will take over the post, after designated finance chief Vassilis Rapanos resigned Monday
Investors are concerned that the country would not be able to manage an expensive rescue of its ailing banking sector
Moody's Investor Service is cutting its credit ratings on 28 Spanish banks, saying the weakening finances of Spain's government is making it more difficult for that country to support its lenders
Cyprus on Monday became the fifth eurozone country to request financial aid from its partners in the European currency union as it struggles to shore up its banks, which took heavy losses on Greek debt
Analysts worry that Europe's piecemeal approach to its spreading government debt crises could backfire
Vassilis Rapanos was rushed to the hospital on Friday, just hours before he was supposed to be sworn in
Weekend eye surgery will prevent Prime Minister Antonis Samaras from traveling to a critical European Union summit in Brussels this week
Clarissa Ward on how Greece's recession and Spain's debt are testing the strength - and validity - of Europe's single currency
Country has yet to specify how much of the $125 billion loan package offered by the 17 countries that use the euro it will ask for
Friday's meeting takes place amid worldwide fears that an economic crack-up in Europe could drag down the entire global economy
Independent auditors estimated Spain's troubled bank sector would need up to 62B euro in new money to survive a severe economic downturn
Spain's troubled banks could need as much as $78.6 billion in new capital to protect themselves from economic shocks
Vassilis Rapanos, a non-executive chairman of the National Bank of Greece, has been a leading figure in the country's banking sector and has also been teaching at Athens University
All three coalition parties have promised to broadly respect Greece's pledges to undertake further harsh austerity measures and reforms
Will head a three-party coalition that will uphold the country's international bailout commitments
Socialist party leader says details of three-party coalition government expected to be finalized by end of the day
Yield on 10-year Spanish bonds remained perilously high and above the 7 pct level for much of the day, but rate closed at 6.99 pct
Official said the renegotiation was part of the normal process of assessing the progress of any country receiving an international bailout
