Euro Zone Debt Crisis

• 

  ECB move on Greek banks hits euro confidence

  Fears that Athens is on the brink of crashing out of the euro zone and the European Central Bank stopping liquidity offers to some Greek banks, is rattling global markets.

• 

  Greece Ducks Friday Deadline by Bundling IMF Payments

  Greece bought time in debt crisis negotiations with official creditors Thursday when it moved to bundle four looming International Monetary Fund (IMF) loan payments into one, to be paid by the end of June.

• 

  Exchange of Documents With Greece a 'Good Sign': European Union

  The EU hailed as a positive step Tuesday the exchange of documents between Greece and its international creditors, as Greece said it had submitted a reform plan to win vital bailout cash.

• Growing number of old people deepens Europe's economic woes

  The population of some countries is stagnant or already shrinking, notably Germany's. That will reduce savings and potential economic growth.

• Euro Zone agrees 10 billion euros bailout for Cyprus

  International lenders struck a deal on Saturday to hand Cyprus a bailout worth 10 billion euros to stave off bankruptcy, a senior euro zone official said. Cyprus is the fifth country after Greece, Ireland, Portugal and Spain to turn to the euro zone for financial help in the wake of the sovereign debt crisis that started in 2010.

• World Bank: Europe, US might hurt Asian growth; China slowing down

  East Asia's developing economies could face a shock from China's slowdown and need to boost domestic demand to offset weak exports due to a sluggish U.S. recovery and Europe's debt crisis.

• ECB move on Greek banks hits euro confidence

  Fears that Athens is on the brink of crashing out of the euro zone and the European Central Bank stopping liquidity offers to some Greek banks, is rattling global markets.

• Gold ticks up on bargain hunting; off 4-month low

  Gold edged up today to $1,581.69 an ounce, however, gains could be capped by fears about a worsening Euro zone debt crisis and inconclusive Greek elections.

• Asian shares fall on euro zone concerns, JPMorgan Loss

  At current levels, the MSCI's broadest index of Asia-Pacific shares outside of Japan will see a weekly fall of more than 4%, the biggest weekly loss since late November.

• Bank of England chief predicts UK recovery

  Mervyn King, the Bank's Governor said no single agency could be blamed for the crisis and that he forsees quick recovery and better results in employment data.

• This year will be crucial for global economy: ADB report

  The bank said that Asian countries must put all their effort to implement long-term development goals.

• Global shares turn lower on heightened euro zone concerns

  A sharp downturn in euro zone manufacturing activity for April sent the single currency and world shares lower

• UBS Q1 net profit shrinks amid own debt charge

  Blaming loss at the investment bank, an accounting charge on its debt and difficult market conditions, Switzerland's biggest bank reported a 54% drop in Q1 net profit.

• Spain, Italy won't need bailouts, say economists

  Market fears over the finances of both countries have intensified over the last week, prompting speculation that Spain or Italy will soon go the way of Portugal, Greece and Ireland by seeking outside help.

• Double-dip recession setting in across eurozone: EU

  Three years after the collapse of US mortgage markets plunged the world into a brutal downturn, the Commission said negative loops "between weak sovereign debtors, fragile financial markets and a slowing real economy do not yet appear to have been broken."