Fitch ratings agency has downgraded five Greek banks, a day after giving the crisis-hit nation the lowest possible grade for a country that is not in default.

Investors participating in a deal to slash Greece's massive debt would face an overall loss on their bond holdings of more than 70%, it emerged toda

Greece’s second and third largest lenders, Eurobank and Alpha Bank, have announced plans to merge to better withstand the country’s acute financial crisis.

The European Central Bank left its key interest rate unchanged at 2% today as it waits for signals that the continent’s hesitant recovery has built up more strength.

The European Central Bank kept its key interest rate unchanged today amid worries about the strength of Europe’s economic recovery.

The European Central Bank left interest rates unchanged at its meeting in Frankfurt today.

The European Central Bank left its key interest rate untouched today, even as a soaring euro made some economists worry about prospects for growth in the 12 countries that use the currency.

The European Central Bank left interest rates unchanged today as new bank president Jean-Claude Trichet presided over his first policymaking meeting.

The European Central Bank kept interest rates unchanged today, with some economists saying the bank may have finished cutting rates while it waits for evidence of a long-awaited recovery.

The European Central Bank left interest rates unchanged today, giving itself more time to size up the prospects for a long-awaited economic upswing on the continent.

The European Central Bank has left interest rates unchanged.

Bank of France Governor Jean-Claude Trichet went on trial today on charges that could ruin his bid to become the next president of the European Central Bank.

Bank of France Governor Jean-Claude Trichet went on trial today on charges that could thwart his bid to become the next president of the European Central Bank.

A member of the European Central Bank’s governing council suggested today that the bank could cut interest rates by as much as a half percentage point next week, more than a year after it last made a change.

The European Central Bank left interest rates unchanged today, waiting for more data on the state of Europe’s shaky economy before adding the stimulus of a rate cut.

The European Central Bank left interest rates unchanged today amid uncertainty over when the continent’s economy will get going again.

The European Central Bank has dampened speculation that it could cut interest rates to stave off the threat of recession.