Draghi’s ‘Whatever It Takes’ Plan Faces Trial at EU Court

European Central Bank President Mario Draghi’s pledge to do “whatever it takes” with a bond-buying plan to save the euro-area goes on trial before the European Union’s top judges today.

Greek bankruptcy averted for now

ATHENS, Greece (AP) — European and global financial leaders have agreed to release €44 billion ($57 billion) in critical loans to Greece and provide billions in additional debt relief in order to help the country stabilize its ailing economy.

ECB's Mario Draghi unveils bond-buying euro debt plan

Mario Draghi, president of the European Central Bank, has unveiled details of a new bond-buying plan aimed at easing the eurozone's debt crisis.

Euro leaders must act, warn reluctant EFSF investors

LONDON: Investors sent a warning shot to eurozone leaders that they are not out of the woods yet when they shunned the European Financial Stability Facility's latest bond issue, just six weeks after the eurozone's rescue fund priced its largest syndicated deal.

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.

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.

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.

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.

Wall Street braces for barrage of data

NEW YORK (CNNMoney) -- Investors will have a lot to contend with this week: a deluge of earnings and economic reports are due out, including Facebook's (FB) first report as a public company and the first look at U.S. economic growth during the second quarter.

Investors Pay to Fund EFSF Aid With Bills at Negative Yield

Investors are paying the European Financial Stability Facility for the privilege of financing Europe’s temporary rescue fund, with demand to buy its debt increasing even as yields drop below zero.

Cyprus to make more cuts to meet deficit target

NICOSIA, Cyprus (AP) — Cyprus' finance minister said Monday that more austerity measures will be needed to meet a deficit target of 2.5 percent of gross domestic product this year.

IMF's Lagarde: Let EU Bailout Funds Go To Banks Without Sovereign Pit Stop

Keeping a country like Spain afloat financially may not be enough to salvage its banks without direct injections of capital, according to Christine Lagarde.

Why Spain’s now threatening to drag down Europe

Just when we thought the euro crisis had subsided for a bit, Spain is bursting back up as a trouble spot. On Wednesday, Prime Minister Mariano Rajoy said the country is “facing an economic situation of extreme difficulty.”

Eurozone boosts financial buffers to $1.1 trillion

COPENHAGEN, Denmark (AP) — The 17 countries that use the euro have boosted their emergency funding for heavily indebted countries to €800 billion ($1.1 trillion) — an amount that falls short of what the currency union's international partners had said is needed to calm financial markets.

Germany's Schaeuble wants bailout aid capped at 800 billion euros

COPENHAGEN (Reuters) - The euro zone should not commit more than 800 billion euros in rescue aid, and tapping that money should only be available when countries promise reforms, German Finance Minister Wolfgang Schaeuble said on Thursday.

Euro rescue fund boost would calm markets: fund chief

Bolstering the eurozone's bailout fund would reassure the markets as many financial players do not believe the crisis is over, Klaus Regling, the head of the fund has told a German news magazine.

Tide turns for EFSF as investors back bonds

LONDON: The European Financial Stability Facility, Europe's sovereign rescue fund, is back in investors' good books after notching up EUR17.6bn in demand this week for two syndicated bond deals hailed as a key test of buyers' appetite.

Yield on new Greek bonds spikes as swap ends

New Greek bonds issued in a historic debt writedown to erase nearly a third of of Greece's debt slumped in value on Monday, the same day the bond swap operation was completed.

Next Time, Greece May Need New Tactics

The Greek government was able to legally strong-arm most of its private bondholders into accepting the debt reduction deal it completed Friday. But next time — and experts predict there will almost certainly be a next time — Greece might have much less leverage.

EU executive to push for bigger rescue fund, win IMF support

BRUSSELS (Reuters) - The European Commission wants euro zone leaders to agree to a bigger rescue fund to nudge the IMF into backing debt-stricken European economies, despite German resistance to boosting it, the EU's top economic official said on Thursday.