German court to hear case against ESM, ECB bond-buying in June

(Reuters) - Germany's Constitutional Court will hold a public hearing on June 11 and 12 on complaints against the euro zone's bailout fund, the European Stability Mechanism (ESM) and the European Central Bank's bond-buying program.

EU ministers discuss Cyprus bailout, bank rescues

BRUSSELS (AP) — European Union finance ministers were discussing Monday how to fund a long-delayed bailout for Cyprus, which creditor nations want to commit to tougher conditions, and get a region-wide bank rescue fund working.

Euro-zone debt crisis enters challenging new phase

SYDNEY (MarketWatch) — Rallying European stocks and bonds reflect a growing belief that both the euro zone and the European Central Bank are at last taking the correct policy actions to combat the region’s debt crisis.

EU summit: France says bank deal helps eurozone fusion

The French president says a deal to start building a banking union on 1 January will enable the eurozone to speed up economic integration.

European Union leaders meet as Spain bailout looms

BRUSSELS: Spain edged closer on Wednesday to asking for bailout aid after months of hesitation on the eve of a summit where European Union leaders aim to strengthen the bloc's shaky foundations.

Global financial risks have increased, says IMF

Risks to global financial stability have increased in the past six months despite efforts by policymakers to make the financial system safer, according to the International Monetary Fund.

Germany says further steps needed before banks tap ESM

(Reuters) - Handing bank oversight to the European Central Bank is not in itself sufficient to allow the euro zone's rescue fund to directly assist banks, Germany's Finance Minister said, warning he expected no such deal on supervision in 2012.

Court delay, Spanish doubts hinder Merkel euro response

BERLIN (Reuters) - Chancellor Angela Merkel appears to be reaching the limits of German patience on the euro zone crisis, with the Constitutional Court and members of her own coalition seeking deeper scrutiny of whether emergency measures comply fully with national law.

Europe: Sputtering toward oblivion

FORTUNE -- European leaders continue to apply flimsy Band-Aids to their gushing economic wounds in an effort to avoid making the hard decisions necessary to save the euro from oblivion.