crucial

The implementation of Italy's reform and austerity package to balance the country's budget by 2013 is important not only for Italy, but for the euro zone as a whole, European Council President Herman Van Rompuy said. more...

France's top banks are bracing themselves for a likely credit rating downgrade from Moody's, sources close to the situation said, further complicating their efforts to assure investors they are riding out the tensions in funding markets.* more...

Greece's parliament gave Prime Minister Papandreou a midnight vote of confidence, but the move doesn't mean Greece will ultimately go along with the austerity plan, or even avoid default. more...

CNBC's Michelle Caruso-Cabrera has the update on the Greek power workers continuing to strike. more...