Asmussen: ECB Will Only Buy Bonds in Parallel With EFSF, ESM

The European Central Bank will intervene in bond markets on behalf of countries only in conjunction with the euro zone's bailout programs and only if the International Monetary Fund is involved in the reform process, an ECB executive board member said Thursday.

EFSF Plans EUR3 Billion 10-Year Bond

The European Financial Stability Facility, or EFSF, has planned to issue three billion euros ($3.7 billion) of 10-year bonds, one of the banks running the deal said Tuesday.

Debt crisis: Mario Draghi cancels Jackson Hole appearance

European Central Bank president Mario Draghi will not attend the US Federal Reserve's Jackson Hole gathering of central bankers later this week due to a heavy workload, a spokesman said Tuesday.

Spain Expects to Tap About $75 Billion in Rescue Financing for Its Banks

MADRID — Spain expects to use about 60 billion euros, or $75 billion, of the 100 billion euros of bank rescue financing offered by European finance ministers in June, according to the Spanish economy minister, Luis de Guindos.

Fitch: Spain aid request wouldn't prompt downgrade

MADRID (MarketWatch) -- A request by the Spanish government for additional financial support from the European Financial Stability Facility/European Stability Mechanism (ESFS/ESM) via purchases of sovereign debt in the primary or secondary market wouldn't necessarily prompt a downgrade, said Fitch Ratings on Friday.

European Commission Sets Sept. 11 to Propose New Bank Regulation

BRUSSELS — The European Commission on Friday set a target date of Sept. 11 to announce proposals to overhaul banking regulation in Europe, a key step in shoring up the euro zone against future crises.

Global shares retreat on growth, euro zone woes

LONDON (Reuters) - Global stock, bond and commodity markets saw investors selling riskier assets on Friday, as they scaled back expectations of strong stimulus from the U.S. Federal Reserve and fretted about the euro zone's debt troubles and widespread economic weakness.

US jobless claims rise, labor market healing very slowly

WASHINGTON: The number of Americans filing new claims for jobless benefits unexpectedly rose last week, suggesting the labor market is healing too slowly to make much of a dent in the unemployment rate.

EFSF optimistic about German court verdict on ESM

MUMBAI: The European Financial Stability Facility (EFSF) is optimistic about the impending verdict by the German court on a petition challenging the constitutional feasibility of the European Stability Mechanism (ESM).

Debt crisis: Murcia could request €700m from Spanish government

Spain’s Murcia region could request up to €700m (£550m) from the central government to keep it afloat, amid growing concern over the state of the regions’ finances.

Greece must remain in eurozone, says Finance Minister Yannis Stournaras

ATHENS: Greece must remain in the eurozone, Finance Minister Yannis Stournaras said in an interview published Sunday ahead of a week of crucial meetings between the prime minister and EU officials.

EU Commission wants ECB to supervise all major euro banks

BERLIN: The European Commission will propose next month giving the European Central Bank supervision over all of the euro zone's major banks, Handelsblatt daily reported on Friday, citing Commission sources.

Angela Merkel warns 'time is of essence' on euro crisis

Angela Merkel warned that "time is of the essence" in tackling the eurozone crisis and voiced her support for ECB President Mario Draghi's crisis-fighting strategy.

Spain Said to Speed EU Bank Bailout on Collateral Limits

Spain is about to receive an emergency disbursement from the 100 billion-euro ($123 billion) bailout of its financial system because of restrictions the European Central Bank imposed on bank borrowing, according to a person familiar with the matter.

Shares slip, ECB hopes drive German bonds to 6-week low

LONDON (Reuters) - Worries about the slowing global economy following some gloomy data hit shares in Europe and Asia on Wednesday, although expectations of central bank action to stabilize the euro zone propped up the euro and tempered demand for German bonds.

Retail Sales Probably Increased in July: U.S. Economy Preview

Sales at U.S. retailers probably rose in July for the first time in four months as employment picked up, easing concern the expansion is faltering, economists said before reports this week.

UK recession not as deep as feared on improved construction data

Britain's recession might not be as deep as feared after better-than-expected construction figures raised the chance that official GDP figures for the second quarter would be revised up.

Bosnia probably entering recession: Central Bank

SARAJEVO: Bosnia's economy is probably heading into recession, given falling exports and industrial output in the first half of the year, Central Bank governor Kemal Kozaric said in comments published by a Sarajevo newspaper on Friday.

US weekly jobless claims fall to 361,000

US weekly jobless claims fell to 361,000, the Labor Department has said, in another sign that the jobs market has some moderate strength despite the second quarter lull in hiring.

Spain will not seek bailout if new conditions: EU source

Spain will not seek eurozone financial aid beyond an agreed rescue for its banks if more conditions than those already agreed for recapitalising lenders are attached, an EU source said Tuesday.

Don't let euro zone debate turn nasty: German foreign min

(Reuters) - German Foreign Minister Guido Westerwelle on Monday warned politicians to rein in the language they use about the euro zone debt crisis after a weekend of ugly exchanges in the German press over Italy and Greece.

UK's deputy finance minister plays down importance of top credit rating

LONDON: Britain's Liberal Democrat deputy finance minister played down the importance of the country's top credit rating, preserving which has been at the heart of the country's austerity-focused economic policy.

Italy plays down prospects it will tap EU rescue funds

MILAN (Reuters) - Italy does not at the moment need to ask the euro zone's rescue funds to buy its government bonds in the markets to bring down borrowing costs, Bank of Italy Governor Ignazio Visco and Cabinet Undersecretary Antonio Catricala said on Sunday.

S&P cuts, affirms Italian banks in sweeping changes

MILAN/NEW YORK (Reuters) - Ratings agency Standard & Poor's on Friday downgraded a broad swath of Italian banks, citing worries that the recession in the euro zone's third-largest economy could mean mounting losses for the country's lenders.

Europe Pauses to Consider Draghi’s Remarks

Economists, analysts and market participants continued on Friday to digest the assurances made by the president of the European Central Bank that he was willing to resume the purchase of sovereign bonds sometime in the future in concert with the euro zone’s rescue fund.

Is Europe Looking for Backdoor Seniority on Spain?

The world waits to see whether the euro zone will send its bailout fund, the European Financial Stability Facility, into uncharted waters: Buying the government bonds of Spain.

ECB can do more to bolster the euro: Christine Lagarde

WASHINGTON: International Monetary Fund chief Christine Lagarde is calling on the European Central Bank to take futher steps to stabilize the economy of the eurozone.

Europe's top banks feel pain from debt crisis; Q2 profits plunge

FRANKFURT: Europe's biggest banks on Tuesday took massive hits on their second-quarter profits as the eurozone debt crisis slices into earnings and adds to the pressure to boost their capital defences.