Country Bailout, Eurozone Bailout | featured news

China is keen to contribute to a fund to bail out the euro zone, its trade minister said, underscoring the Asian powerhouse's growing interest in playing a bigger role in the global economy as its financial strength grows.

Greece's cabinet agreed on Saturday to launch a debt swap for private creditors on March 8 with the aim of completing it by March 11, a government official said.

U.S. stocks closed in on the psychologically important mark of 13,000 for the Dow Jones industrial average as optimism about the Greek bailout and the European financial situation sent stocks up in early trading.

The letters aim to satisfy one of the key demands set by Greece's international lenders, but other issues remained unresolved.

Latest austerity cuts approved as 100,000 take to the streets in protest; 93 buildings damaged in Athens.

As is increasingly the case with the European financial crisis, the story changed between the time the evening papers went to bed Thursday night and the traders woke up Friday morning.

Stocks edged lower on Monday as a delay by debt-ridden Greece in accepting the terms of a bailout gave investors little reason to buy equities after a five-week rally.

Greece and its private creditors said on Saturday they were piecing together the final elements of a debt swap and expected to have a deal ready next week, essential for sealing a new bailout and avoiding an uncontrolled default.

Greek officials reject German proposals for a eurozone budget commissioner to oversee spending, as agreement nears on a second bailout for Greece.

Economist Lucas Papademos will be Greece’s next prime minister, the Greek president’s office announced Thursday, giving to a non-politician the job of passing an unpopular bailout plan before elections are held next year.