Crunch talks on new Greek bailout under way

The German and Greek finance ministers are holding talks with IMF and Eurogroup chiefs ahead of a meeting of eurozone finance ministers on Friday.

Germany cuts 2014 growth forecast from 1.8% to 1.2%

The German government has sharply cut its economic growth forecast for this year and next, citing "external" factors for the revision. It now expects growth this year to be 1.2%, down from its previous estimate of 1.8%.

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.