German cabinet clears way for Europe's banking union

(Reuters) - Germany's cabinet has approved a package of draft laws which effectively give the go-ahead to Europe's plans for banking union - its main confidence-building response to the crisis in the financial sector, a government source said on Wednesday.

Draghi Says Bank-Aid Rules Must Be Flexible on Forced Losses

European Central Bank President Mario Draghi said banks should be able to access public aid without wiping out junior bondholders if regulators decide a lender needs more capital and isn’t on the brink of failure.

Europe prepares to come clean on hidden bank losses

(Reuters) - Euro zone countries will consider on Monday how to pay for the repair of their broken banks after health checks next year that are expected to uncover problems that have festered since the financial crisis.

Portugal does not seek Greek-style debt deal: Prime Minister Pedro Passos Coelho

LISBON: Portugal will not seek changes to obtain lower interest rates on its bailout loans as Greece received and is respecting targets laid down by creditors, Prime Minister Pedro Passos Coelho said on Tuesday.

Spain's crisis flares again as AAA club scuppers bank rescue deal

Spain's debt crisis has returned with a vengeance after Germany, Holland and Finland reneged on a crucial summit deal and scuppered hopes of direct eurozone help for Spanish banks.