Euro exit averted, Greece is still on the clock

While Greece is unlikely to cause international panic with a split from the euro, it still faces a shattered economy

• Jun 18, 2012

Europe looks on as Greek victors seek coalition

Wary confidence among investors as pro-bailout New Democracy party tries to build new gov't that would keep Greece in eurozone

• Jun 18, 2012

Spain's borrowing rate hits bailout danger zone

The interest rate on Spain's 10-year bonds - an indicator of market confidence in how well a country can pay down its debt - hit 7.06 percent

• Jun 18, 2012

Relief from Greek election likely to be fleeting

Spain's borrowing costs are climbing ever higher and Europe's governments are struggling to agree on putting new foundations under the euro

• Jun 18, 2012

Greek voters back pro-bailout party

New Democracy party comes in first in election, could gather enough support to form coalition to keep Greece in eurozone

• Jun 17, 2012

Greek exit polls: Top 2 parties neck-and-neck

In election crucial for Greece, Europe and the world, voters appear split between parties both for and against eurozone bailout

• Jun 17, 2012

Greek election may decide future in eurozone

In most critical balloting in 40 years Greeks hit hard by debt crisis will choose between austerity and a return to the drachma

• Jun 17, 2012

Greeks, Spaniards withdraw euros by the billions

In eurozone's most economically stricken countries people are taking savings out of banks as protection against growing financial storm

• Jun 16, 2012

World banks closely watching Greek PM election

Major banks in New York and London are on alert ahead of the crucial prime minister election in Greece. As Clarissa Ward reports, a possible Left Party victory could send shockwaves through the world financial system.

• Jun 16, 2012
• 1:28

UK chancellor: "Moment of reckoning" for Europe

Preview: In interview with CBS News, George Osborne warns Europe needs a plan for Greek exit from the euro, invokes collapse of Lehman Brothers

• Jun 15, 2012

IMF: Spain should raise taxes to reduce deficit

International Monetary Fund says Spanish government must boost tax revenue to plug widening budget gap

• Jun 15, 2012

Cyprus weighs bailout options: Europe or Russia?

Prospects look bleak for the island's economy, which is projected to shrink by one percent of GDP this year before rebounding slightly in 2013

• Jun 15, 2012

British chancellor on stabilizing European economy

In an interview with Scott Pelley, British Chancellor of the Exchequer George Osborne explains what he feels has to happen in order to stabilize the European economy and avoid a global financial crisis.

• Jun 15, 2012
• 2:56

How shock waves will hit U.S. if Greece drops euro

If Greece stopped using the euro as its currency, it could spread turmoil throughout the global financial system

• Jun 15, 2012

Greece economic crisis creates "new homeless"

Homelessness wasn't a huge problem before, now a charity estimates 13,000 Greeks are sleeping on Athens' streets

• Jun 15, 2012

Spain debt rises as bond rate stays in danger zone

Bank of Spain said that as of the end of the first quarter, Spain's total debt now stands at 72 percent of gross domestic product

• Jun 15, 2012

Austerity cripples Greek healthcare system

Greece is broke, and government spending had to be cut back, so Greece's healthcare system is paying a heavy toll

• Jun 14, 2012

Merkel firmly behind euro, but will she act?

Germany's chancellor faces increasing criticism abroad for over-emphasizing austerity, notably from France

• Jun 14, 2012

European banking system on brink of collapse

Spain and Italy are in danger of defaulting on their debt, which would mean the collapse of the entire European banking system. Anthony Mason reports on what's being done to prevent a global financial crisis.

• Jun 14, 2012
• 1:30

Financial crisis crippling Greek healthcare

Greece's bureaucratic healthcare system has always been inefficient. But, as Clarissa Ward reports, austerity measures introduced in the wake of the financial crisis have cut public health spending by 25 percent - bringing the system to its knees.

• Jun 14, 2012
• 3:02

Spain borrowing rates soar after Moody's downgrade

Interest rate on country's benchmark 10 years bonds rose to a record 6.96 percent Thursday, close to the level which many analysts believe is unsustainable

• Jun 14, 2012

Moody's cuts Spain's credit rating

The ratings agency slashed the Spanish government's credit rating Wednesday, a direct result of the rescue package lined up by European leaders over the weekend

• Jun 13, 2012

Moody's downgrades Cyprus on Greek euro exit fears

Moody's credit ratings agency has driven Cyprus deeper into junk status with a two-notch downgrade to Ba3 over an increased likelihood that debt-crushed Greece will leave the eurozone

• Jun 13, 2012

Cyprus may ask for bailout before Greek elections

Cyprus' finance minister warns country could seek a EU bailout to help recapitalize its banking sector before Sunday's crucial elections in Greece

• Jun 13, 2012

Financial panic flaring in Italy

Jittery investors send Italian government's borrowing costs soaring

• Jun 13, 2012

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