Fitch downgrades Poland's rating outlook on budget revision

WARSAW: Fitch Ratings downgraded its credit outlook for Poland to stable from positive on Friday for the first time in years, citing the government's decision to soften its fiscal discipline and let the budget deficit widen this year.

A year on, Mario Draghi's 'save the euro' pledge remains untested

FRANKFURT: A year after Mario Draghi vowed to do "whatever it takes" to save the euro, the European Central Bank president can claim to have staved off disaster - but he may have to back up his words with action before long.

Cyprus reports sharp cut in size of banking sector

NICOSIA/CYPRUS: A draft bailout document between Cyprus and its international creditors shows that the size of the country's banking sector has been sharply reduced since the country's rescue package was agreed last month.

OECD warns Slovenian banks on volume of bad debts

LJUBLJANA: The OECD sounded the alarm Tuesday over the huge volume of bad debts strangling Slovenian banks but said that there was no immediate prospect of the country becoming the latest eurozone member after Cyprus to need a bailout.

BoE's Tucker: Worst may still be ahead for banking

The "worst may still be ahead" for the banking system, the Bank of England's deputy governor has told a gathering of leading bankers.

EU says banks should split risky trading from banking

A European Union advisory group says that Europe's banks should be split into separate legal entities, in order to protect ordinary retail banking from risky trading.

Brussels' austerity drive must be stopped if eurozone is to survive

Looking back over 2012, it was clear where it had all started to go wrong for the eurozone. Markets had rallied strongly in the first two months of the year following the decision by the European Central Bank in late 2011 to provide cheap three-year loans to commercial banks starved of credit.