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Italian President Giorgio Napolitano expressed despair on Tuesday at fierce criticism of his latest plan to end a post-election deadlock that has raised fears of months of instability in the euro zone's third largest economy.

Michalis Sarris resigned after announcing the final terms of a bailout for the nation’s banking system that imposed heavy losses on bank depositors in return for aid.

Regulators in Google's largest European markets are taking joint action to try and force the company to overhaul its privacy policy.

Unemployment in the euro zone rose to yet another record high in the first two months of the year, official data showed Tuesday, providing confirmation that the economy remains in a deep freeze.

Cyprus is struggling to comply with the conditions that Europe is demanding of it before it gets a desperately needed 10 billion euro loan.

The benchmark index has repeatedly come close in recent days, but has pulled back each time as investors grappled with concerns about the banking crisis in Cyprus. The benchmark index was recently trading over 1,565.15 points, up 0.2 percent, despite a report of rising claims for unemployment benefits.

Banks on the tax haven of Cyprus opened Thursday for the first time in 12 days amid the island's continuing financial crisis. Strict limits on the amount of money that could be withdrawn have been imposed – people will be able to withdraw 300 euros ($383) a day and no checks will be cashed – amid fears of a run on the banks.

Cyprus has imposed limits on money transfers and hired extra security guards to prepare for the reopening of its banks, which have been shut for almost two weeks to avoid a run during the country's financial drama.

When crooked American financier Bernie Madoff was sentenced in New York, the leading Italian newspaper Corriere della Sera published a front-page cartoon mocking Italy's trial system....

With time running out until Cyprus’s devastated banks must reopen their doors to the public, Cypriot and European officials are scrambling to put in place a set of measures that would allow jittery depositors access to their savings while preventing many billions of euros from fleeing the country.