Economy of the European Union

Germany wants Greece's new left-wing government to go back on anti-austerity promises made in its first days in office and revert to economic policies its predecessors' agreed with international lenders, a document showed on Wednesday.

It is too early to discuss a third bailout package for Greece, European Commission President Jean-Claude Juncker said on Wednesday, stressing the focus of talks with Athens was implementing measures already agreed with the eurozone.

The probability of Greece leaving the eurozone has jumped from virtually nothing to at least 20 percent since Syriza's Jan. 25 election victory, the head of the German ZEW think tank told Reuters.

The eurozone economy is sprouting more green shoots than anticipated just as the European Central Bank fires up a money printing program worth more than 1 trillion euros.

Spanish Economy Minister Luis de Guindos on Wednesday said Europe would use the next four months of a bailout extension by Athens to assess Greece's situation and its next steps, which he said would be a third rescue.

Greece sold 1.138 billion euros ($1.27 billion) of six-month Treasury bills on Wednesday, covering the amount it wanted to refinance a maturing issue, in a sale that tested the country's ability to raise funds amid a cash crunch.

By Jeff Black & Georgios Georgiou

There was a time when a Cypriot on a moderate income could take a gamble on foreign real-estate worth more than his life savings.

As Financial Times report the European Central Bank resists Greek new government’s latest bailout plan.

Following Greek government's decision to abandon its request for a "haircut", the markets took a breather.

Also opens the way for meetings between the Greek Minister of Finance and the ECB President as well as with his German counterpart.

The decision led to a rally in the Greek stock market and crated declines in yields on Greek bonds.

Fresh talk of a third international bailout for debt-hit Greece spread through European capitals on Tuesday, despite Brussels insisting it was far too soon to start discussing any new rescue package.