The euro has sunk to a four-month low against the US dollar over the economic and political crisis in Greece.

Greek political parties have agreed on forming a caretaker government to hold new parliamentary elections in June after previous polls failed to give any party an absolute majority earlier in May.

The risk premium on Spain's sovereign debt has smashed to a euro-era record high amid fears of a possible Greek exit from the eurozone.

Greece is headed for the second parliamentary elections in less than a month as the latest round of talks on forming a new government failed to produce agreement.

French President Francois Hollande has met with German Chancellor Angela Merkel in Berlin to hammer out their differences over how to tackle the eurozone debt crisis.

The Greek government teeters on the brink of new nationwide elections as another round of talks between the president and the heads of five political parties has failed to produce results.

European Union finance ministers have brushed aside recent speculations of Greece exiting the eurozone as "propaganda and nonsense", urging the Greek nation to live up to its commitments to EU bailout deals.

Greek President Karolos Papoulias has proposed the formation of a technocrat government in a bid to resolve the political deadlock that has gripped the debt-stricken country.

Moody’s Investors Service has cut its credit ratings for 26 Italian banks, citing their vulnerability to the country’s recession and the eurozone’s continuing economic crisis.

Greek political parties are holding last-ditch talks on forming a coalition government to avoid new elections that could end its eurozone membership.

Spain’s borrowing costs have once again risen to dangerous levels amid ongoing fears over the country's banking sector and political uncertainly in Europe.

Political turmoil in Greece continues as the leader of the moderate Democratic Left party says no unity government can be formed without the anti-austerity radical leftist Syriza party.

Newly-released data have shown that people in Portugal continued to suffer inflation-related pressures in the first quarter of 2012 following the increase in the price of gas, Press TV reports.

Italian Prime Minister Mario Monti has pointed to the possibility of calling in the army to deal with the violent protests in the country over the government’s economic policies.

The leader of Greece’s Radical Left party (Syriza) has refused to attend further talks on forming a coalition government, bringing the crisis-hit country one step closer to a repeat election.

Greek conservative party leader Antonis Samaras says the country’s Radical Left (SYRIZA) coalition has refused to join or support a coalition government.

Greece's President Karolos Papoulias has been due to meet with political party leaders in a final attempt to create an emergency coalition and avoid fresh elections.

Greece's socialist leader has failed in his effort to form a coalition government, increasing the chance of a snap parliamentary election.

Italian police have clashed with angry anti-austerity protesters in the southern city of Naples, Press TV reports.

Greece's socialist leader has failed in his effort to form a coalition government, increasing the chance of a snap parliamentary election.

According to the European commission’s forecasts, Spain will miss its 2012-2013 budget-deficit targets which consequently will contribute to the country’s remaining in recession for yet another year.

Germany has threatened Greece to cut off bailout payments if the debt-laden country fails to implement the EU-IMF required austerity measures.

Thousands of Spanish students have taken to the streets across the country to protest against the government’s new education cut plans.

A recent opinion poll indicates the widespread religious intolerance against the Muslim community in the Netherlands as Islamophobia intensified across Europe.

Greece remains grappling with political uncertainty as the Socialist PASOK party is trying its chances at forming a coalition government, following last week's general elections.

Spanish shares have sharply plunged to close at their lowest level since 2003 over growing concerns for the country's stricken banking sector.

Head of Greece’s leftist SYRIZA coalition Alexis Tsipras is to meet with the country's pro-austerity leaders in an effort to break the deadlock over the formation of a new government.

Spain’s major teaching unions have planned to stage a one-day strike to voice their opposition against the government’s recent cuts in the state education system.

The European Union Commission has called on Greek leaders to adhere to the austerity plans, warning of tough penal measures against any attempts by Athens to flout the bloc’s strict economic plans for the Greek.

Greece’s left-wing coalition leader has ruled out austerity measures, receiving a mandate to form a new government as elections produced a stalemate in parliament.

Greece may face repeat elections following the failure of parties to form a government after the recent general elections.

Greek conservative leader Antonis Samaras has failed in talks on forming a unity government after being shunned by anti-austerity parties that made strong gains in Sunday’s parliamentary election.

The euro has dropped in value following the electoral defeat of ruling parties in France and Greece as new anxiety about the fate of EU austerity policies rattles financial markets.

Majority of respondents to the latest Press TV survey believe that some EU leaders' intolerance towards multiculturalism is the main factor behind the rise of far-right extremism and terrorism in Europe.

Voting has kicked off in Greece's parliamentary elections, the most critical general voting in decades in the debt-laden country amid wide uncertainty over the outcome.

The parliamentary elections are set to be held in Greece on Sunday amid the country’s deepening economic troubles and the ongoing austerity crisis, Press TV reports.

The prospect of an ‘uncontrollable’ civil unrest looms over the EU member states as a result of the bloc’s stringent economic austerity measures, a British economist tells Press TV.

Spain has tightened security in Barcelona over fears of violent protests as eurozone’s central bank chiefs gather in the city to discuss the bloc's debt crisis.

Spain’s share prices have dropped 2.55 percent, the lowest level the country has witnessed in more than three years.

The eurozone unemployment rate has hit a record high in March, rising to 10.9 percent for the first time for 15 years, official figures show.