Euro Finance Ministers Grant Ireland, Portugal Eased Debt Terms

Euro-area finance ministers agreed to extend maturities on rescue loans to Ireland and Portugal, easing the terms on two recipients of European bailout aid in a show of support for their commitment to austerity.

Greek coalition seeks two extra years to meet bailout deficit targets

Greece's new coalition government has outlined the concessions it hopes to exact from Europe's leaders on its €130bn bailout package, as its two top politicians receive hospital treatment.

Spain to seek bank aid as borrowing costs soar

LUXEMBOURG/MADRID (Reuters) - Independent auditors said Spanish banks may need up to 62 billion euros in extra capital, to be filled mostly by a euro zone bailout, after Spain's medium-term borrowing costs spiraled to a euro-era record on Thursday.

Ireland Minister Upbeat on Recovery

DUBLIN—Ireland's economy could be on the verge of a strong recovery that would help the government regain access to the international bond markets next year, the deputy finance minister said.

Italy and Spain need ‘bazooka’ to avoid insolvency: Roubini

A Greek default could trigger a global economic shock on the scale of that suffered after Lehman Brother Holdings Inc.’s 2008 failure, said Nouriel Roubini, chairman and co-founder of Roubini Global Economics LLC.

A disorderly default by a member of the euro area or an exit from Europe’s single currency bloc could cause a shock “that would reverberate through the global economy,” Roubini said at a seminar in Helsinki Monday organized by Evli Bank Oyj.