The IMF is also pushing that prescription - for both the euro zone and Britain - but Germany and the ECB are opposed.

While demanding that the levy raise the targeted $7.6 billion, finance officials said easing the cost to smaller savers was up to Cyprus.

The European Union is also weighing whether to extend Ireland's rescue loans by five years or more, according to two EU officials.

The European Central Bank will do everything in its power to show the euro is irreversible, ECB member Joerg Asmussen said.

Jain said that debt reduction, budgetary consolidation advocated by Merkel are the most important steps to achieve greater cohesion in Euro...

European Central Bank officials ruled out a Greek debt restructuring, clashing with political leaders over a solution to the sovereign fina...

Finance ministers of the Group of 20 industrialised and emerging economies (G20) have agreed that global stability and growth must be the c...