European Stability Mechanism

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  IMF 'Will Not Join Greece Bailout Until Debt Concerns Are Addressed'

  The International Monetary Fund said on Thursday it would not join a new bailout program for Greece until conditions for debt sustainability, including debt relief and economic reforms, are clearly assured.

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  Greece Vows Pension, Tax Reforms From Next Week in Return for Loan

  Greece today promised it would start pension and tax reforms next week, as demanded by creditors, in return for a three-year eurozone loan to drag its financial system back from the brink of collapse.

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  Eurozone Refuses Greek Bailout Extension, More Talks on Wednesday

  Finnish Finance Miniseter Alex Stubb said an extension was "not possible" and said a request for a new rescue programme with the European Stability Mechanism (ESM), the EU's bailout vehicle, "is always dealt with through normal procedures."

• Cyprus to get first tranche of bailout in early May

  Cyprus will get the first tranche of a 10 billion euro international bailout in early May after all formalities are finished in April, Klaus Regling, the head of the euro zone bailout fund, the European Stability Mechanism, said on Tuesday.

• Brent slips below $104 on global economic concerns

  Brent slipped below $104 per barrel as investors remained worried about fuel demand after a series of weak.

• Euro hits 2-year low, oil slips

  The euro fell to a two-year low against the dollar on Tuesday on investor concernS.

• European shares gain on Spanish deal

  The euro zone ministers agreed to grant Spain an extra year until 2014 to reach its deficit reduction targets.

• German Chancellor Angela Merkel buries euro bonds as summit tension rises

  German Chancellor Angela Merkel sought to bury once and for all the idea of common euro zone bonds.

• Asian markets fall on Spanish debt concerns

  Asian markets reversed the previous day's hefty gains on Tuesday as a European bailout for Spain's debt-stricken banks failed to convince investors.

• Bankers to discuss options to fix Europe at Copenhagen meet

  Bankers at the International Institute of Finance meet will discuss how to decouple the sovereign crisis from the banking crisis.

• Eurozone builds $1 trillion financial firewall for larger economies

  The finance ministers of the 17 EU nations agreed Friday at the start of a two-day meeting in Copenhagen to bolster the firepower of euro-zone's financial bailout fund to 700 billion euros.

• European states sign new fiscal treaty

  The leaders of 25 European states on Friday signed a new treaty designed to prevent the 17 euro countries from living beyond their means and prevent a repeat of the currency union's crippling debt crisis.

• Germany approves second Greek bailout package

  German parliament has overwhelmingly approved the second financial bailout package for Greece, but delivered a blow to Chancellor Angela Merkel by denying her for the first time a majority of her centre-right coalition parties in a crucial vote.

• Report: Monti says Italy a "safe place"

  Italy is now a "safe place" amid market turbulence, Premier Mario Monti said in an interview published Saturday