Greece denied a report on Tuesday it was discussing a new 60 billion euros bailout with international lenders and its borrowing costs rose amid fears it may have to restructure its debt without further EU help.
Euro zone finance ministers are likely to back a bailout for Portugal on Monday and tell Greece it must deliver on agreed fiscal and privatization targets if it wants new emergency financing next year.
Greece said it was discussing with its euro zone partners ways to plug a 27 billion euro ($39 billion) funding hole next year as a fresh credit rating cut on Monday made its return to markets even more difficult.
The British Chancellor of the Exchequer George Osborne has warned that Greece may need additional bailout funding, but that the U.K. is unlikely to contribute to any such payouts.
Concern about plans for a fundamental review of the bailouts given to Europe's high debtors dominated debt markets on Monday although the euro itself rose, rebounding from recent sharp losses.
Spain's economic recovery remained fragile at the start of the year, despite a pick up in exports and more people coming to its beaches, and doubts persist over the country's ability to grow fast enough to reduce its debt burden.
Portugal signed up to a tough but fair 78-billion-euro international bailout plan on Thursday which will send it into recession for two years with a recovery only likely in 2013, European Union and IMF officials said.
European Central Bank President Jean-Claude Trichet signaled on Thursday that euro zone interest rates are unlikely to rise next month but left the door firmly open for an increase in July.
Portugal's caretaker government signed up to a 78 billion euro EU/IMF bailout on Thursday, warning its terms would push it into recession this year and next.
The Portuguese will likely descend into a deep recession over the next two years, after Lisbon country signed terms of a bailout from the European Union, warned the country’s finance minister.
Spain drew healthy demand for its five-year debt Thursday, with an only modest rise in yields encouraging hopes it can ride out the threat of contagion from a euro zone debt meltdown that has swallowed neighboring Portugal.
Portugal's two key opposition parties signaled after meeting European and IMF officials that they will back a 78-billion-euro bailout that is expected to consign the economy to two years of recession.
The European Central Bank kept euro zone interest rates on hold as expected on Thursday leaving markets focused on whether Jean-Claude Trichet will flag a June hike by declaring the bank is in a state of strong vigilance.
The European Central Bank will show its determination to check firming price pressures at its meeting on Thursday with markets focusing on whether it uses the strong vigilance codewords to signal a rate rise in June.
Irish Prime Minister Enda Kenny said on Wednesday he would press for lower interest rates for Dublin's EU/IMF bailout but insisted higher corporate taxes would not be part of any such deal.
Irish Prime Minister Enda Kenny said on Wednesday he would press for lower interest rates for Dublin's EU/IMF bailout but insisted higher corporate taxes would not be part of any such deal.
Portugal's two key opposition parties signaled after meeting European and IMF officials on Wednesday they will back a 78-billion-euro bailout that is expected to consign the economy to two years of recession.
Portugal's banks will get up to 12 billion euros ($17.8 billion) to recapitalize under a rescue plan, enabling them to rebuild their balance sheet strength gradually, an official source said.
Gold sat tight as Silver Prices sank once more in London trade on Wednesday morning, holding above last night's 2-session low of $1528 per ounce while silver dropped to new 3-week lows, flirting with the technical definition of bear market.
Euro zone retail sales fell sharply in March, data showed on Wednesday, indicating that rising food and energy prices were curbing household demand and that economic recovery was still mainly industry-driven.
Portugal's main opposition party met European and IMF officials on Wednesday and said they would consider whether to back a 78-billion-euro bailout after a source said the terms would propel the economy into two years of recession.
Conditions attached to a 78 billion euros bailout of Portugal's debt-ridden economy are likely to propel it into a deep recession for two years, an official source said on Wednesday.
