Italy, Spain Face Budget Scrutiny as Euro Ministers Meet

Italy and Spain will defend their 2014 spending plans at a meeting of euro-area finance ministers today, risking a clash over economic frailties that could undermine efforts to pull the currency bloc out of a debt crisis now in its fifth year.

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.