ECB's Mario Draghi spots 'encouraging' UK economy signs

European Central Bank (ECB) president Mario Draghi has said he sees "encouraging signs of tangible improvements" in the UK economy.

Bank of England tells banks to raise £25bn

Major UK banks must raise a total of £25bn in extra capital by the end of 2013 to guard against potential losses, the Bank of England (BoE) has said.

Debt crisis: Germany's Angela Merkel and Italian PM Mario Monti vow to protect euro

German Chancellor Angela Merkel and Italian Prime Minister Mario Monti have agreed to do everything to protect the euro zone and swiftly implement measures agreed by EU leaders in June.

Asian shares fall after European election results

Asian markets have dropped on fears that the eurozone may rein in austerity measures that many see as key to solving the region's debt crisis.

Merkel urges euro fiscal union to tackle debt crisis

German Chancellor Angela Merkel has said Europe is working towards setting up a "fiscal union", in a bid to resolve the eurozone's debt crisis.