Italy's Mario Monti calls on EU to bring down borrowing costs

ROME: Italian Prime Minister Mario Monti called Tuesday on the European Union to recognise efforts made by countries to overcome the economic crisis by moving to bring down punishing borrowing costs.

ECB's Mario Draghi defends euro rescue measures

BRUSSELS: European Central Bank chief Mario Draghi defended on Monday controversial measures taken to tame the eurozone debt crisis, including buying up government bonds, European MPs said.

U.K. Sticks to Budget Cuts as Coalition Eyes Speedier Investment

U.K. Prime Minister David Cameron said his government will continue with its deficit-cutting plans amid calls from opposition lawmakers for a rethink as the economy struggles to recover from a double-dip recession.

ESM Intends to Aid Spanish Banks in ‘Near Future,’ Regling Says

The European Stability Mechanism is on track to become operational in October and intends to work directly with Spanish banks in the “near future,” said Klaus Regling, who heads the euro area’s bailout funds.

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.