Europe

Moody's cut down Slovenia's debt rating amid worries about its banking sector, balance sheet and chance it might need a bailout in the latest sign the eurozone debt crisis isn't yet over.

Confidence in the euro zone's economy fell further in April, strengthening the case for a cut in interest rates this week by the European Central Bank.

Many Europeans apparently prefer bloated deficits and threats of default over higher taxes and soaring unemployment wrought by recent austerity measures.

The European Central Bank is closer to lowering interest rates than at any time since it last cut them in July and is likely to shave a quarter-point off.

A sharp drop in German business activity overshadowed an easing downturn in France, raising concerns over a further economic contraction in the euro zone.

A sharp drop in German business activity overshadowed an easing downturn in France, raising concerns over a further economic contraction in the euro zone.

Germany's lower house of parliament voted overwhelmingly to grant Cyprus a 10 billion euro bailout that is designed to avert the island from bankruptcy.

The Portuguese government approved around 800 million euros of new spending cuts on to put its EU/IMF bailout back on course.

The European Central Bank held its interest rate at a record low 0.75% as it waits to see whether the economy stabilizes.

Cyprus's bank restructuring, a condition for international aid it needed to stave off bankruptcy, will force the Mediterranean island to scramble for new ways to generate wealth.