LOS CABOS, Mexico, June 18 (Reuters) – The European Union is
confident that the government formed after the election in
Greece will stick to the terms of the bailout agreed with the EU
and International Monetary Fund, the EU’s top two officials said
on Monday.

Speaking ahead of a summit of the world’s largest economies,
which will be dominated by the euro zone crisis, European
Council President Herman Van Rompuy said Greek voters had made a
clear choice about staying in the euro currency, following weeks
of uncertainty in financial markets.

LOS CABOS, Mexico (Reuters) – World leaders pressed Europe on Monday to do whatever it takes to combat the euro zone’s debt crisis after a victory for pro-bailout parties in a Greek vote reduced the chances of a euro breakup but failed to calm financial markets.

The world’s major industrialized and developing economies are set to urge the euro zone to break the vicious link between its struggling banks and strained state finances, according to a draft communiqué prepared for the G20 summit and seen by Reuters.

BRUSSELS, June 13 (Reuters) – The EU executive could make
proposals this autumn to integrate supervision of banks, the
head of the bloc’s executive said on Wednesday, outlining a key
step towards a banking union to underpin the euro zone’s
financial system.

Jose Manuel Barroso, President of the European Commission,
said that it could present legislative proposals to integrate
European supervision.

BRUSSELS (Reuters) – European finance officials have discussed limiting the size of withdrawals from ATM machines, imposing border checks and introducing euro zone capital controls as a worst-case scenario should Athens decide to leave the euro.

EU officials have told Reuters the ideas are part of a range of contingency plans. They emphasised that the discussions were merely about being prepared for any eventuality rather than planning for something they expect to happen – no one Reuters has spoken to expects Greece to leave the single currency area.

BRUSSELS (Reuters) – European finance officials have discussed as a worst-case scenario limiting the size of withdrawals from ATM machines, imposing border checks and introducing capital controls in at least Greece should Athens decide to leave the euro.

EU officials have told Reuters the ideas are part of a range of contingency plans. They emphasised that the discussions were merely about being prepared for any eventuality rather than planning for something they expect to happen – no one Reuters has spoken to expects Greece to leave the single currency area.

BRUSSELS, June 11 (Reuters) – European finance officials
have discussed limiting the size of withdrawals from ATM
machines, imposing border checks and introducing euro zone
capital controls as a worst-case scenario should Athens decide
to leave the euro.

EU officials have told Reuters the ideas are part of a range
of contingency plans. They emphasised that the discussions were
merely about being prepared for any eventuality rather than
planning for something they expect to happen – no one Reuters
has spoken to expects Greece to leave the single currency area.

BRUSSELS (Reuters) – European finance officials have discussed as a worst-case scenario limiting the size of withdrawals from ATM machines, imposing border checks and introducing capital controls in at least Greece should Athens decide to leave the euro.

EU officials have told Reuters the ideas are part of a range of contingency plans. They emphasized that the discussions were merely about being prepared for any eventuality rather than planning for something they expect to happen – no one Reuters has spoken to expects Greece to leave the single currency area.

BRUSSELS (Reuters) – A bailout for Spain’s teetering banks, once requested by Madrid, could amount to as much as 100 billion euros, two senior EU sources told Reuters on Saturday.

Spain has not yet made a formal request for European aid but it could come during a conference call of euro zone finance ministers, the sources, who were both on an earlier call to discuss the technicalities of a rescue, said.

BRUSSELS, May 31 (Reuters) – T.S. Eliot said that April was
the cruellest month, but for Europe’s leaders, it may prove to
be June.

After 2-1/2 years battling a debt crisis that has morphed
into an economic crisis and now one of politics too, they face
four weeks of critical decision-making that may mark a turning
point or otherwise shunt the continent further into turmoil.

BRUSSELS (Reuters) – Two weeks ago, Herman Van Rompuy and Jose Manuel Barroso, the European Union’s top two officials, met for lunch in Van Rompuy’s offices to discuss the deteriorating situation in Greece. Their immediate concern was an uncompromising letter.

On May 10, Alexis Tsipras, the 37-year-old leader of Greece’s far-left SYRIZA coalition, had written to them to say that the 130-billion-euro bailout agreed between Greece and the EU/IMF was illegitimate and could not be honored.