EU backs Greek austerity as standby aid readied (Reuters) EU Economy News - Yahoo! News - Tue, 16 Mar 2010 21:48:51 GMT Reuters - EU finance ministers backed plans on Tuesday by countries in the euro area to help debt-stricken Greece financially if it becomes the first state in 11 years of monetary union to seek such aid.

Saudi sees OPEC output steady for rest of year (AP) EU Economy News - Yahoo! News - Tue, 16 Mar 2010 19:07:10 GMT Energy Minister for the United Arab Emirates Mohamed bin Dhaen Al Hamli, talks to journalists as he arrives at a hotel for a meeting of the Organization of the Petroleum Exporting countries, OPEC, in Vienna, Austria, on Tuesday, March 16, 2010. (AP Photo/Ronald Zak)

US warns EU derivatives ban won't work (AP) EU Economy News - Yahoo! News - Tue, 16 Mar 2010 18:22:03 GMT US Commodities and Future Trading Commission Chairman Gary Gensler addresses the Committee on Economic and Monetary Affairs of the European Parliament at the European Parliament in Brussels, Tuesday March 16, 2010. (AP Photo/Thierry Charlier)

FTSE 100 posts solid gains (AFP) EU Economy News - Yahoo! News - Tue, 16 Mar 2010 17:24:07 GMT FTSE 100 shares posted solid gains on Tuesday ahead of a US Federal Reserve policy decision on interest rates, widely expected to remain at record lows.(AFP/File/Shaun Curry)

Franco-German spat fuels EU economic debate (AFP) EU Economy News - Yahoo! News - Tue, 16 Mar 2010 16:54:50 GMT French Finance Minister Christine Lagarde arrives in the meeting room prior to an Eurogroup council on March 15, at the EU headquarters in Brussels. An economic policy dispute between France and Germany threatens to distract the eurozone as it faces fierc b50 e competition from Asian rivals, analysts and German media warned Tuesday.(AFP/File/Georges Gobet)

Greek power company workers strike (AP) EU Economy News - Yahoo! News - Tue, 16 Mar 2010 16:24:06 GMT Striking Greek state hospital nurses demonstrate outside the health ministry building in central Athens on Tuesday, March 16, 2010. The nurses' union opposes government austerity measures aimed to pull Greece out of a massive debt crisis, and is seeking better working conditions. The banner reads 'The Minister Snubs Nurses.' Greek state power corporation workers also launched a two-day strike Tuesday, which may lead to blackouts. (AP Photo/Petros Giannakouris)

EU hedge fund rules stalled, UK digs in heels (Reuters) EU Economy News - Yahoo! News - Tue, 16 Mar 2010 16:21:35 GMT Reuters - European Union plans to crack down on hedge funds hung in the balance on Tuesday when talks stalled after Britain dug in its heels to head off new rules that could damage its financial center.

Greece gets some relief on credit rating (AP) EU Economy News - Yahoo! News - Tue, 16 Mar 2010 15:58:39 GMT Greek Finance Minister Giorgos Papakonstantinou, right, gestures as he talks with France's Economy Minister Christine Lagarde, center, Swedish counterpart Anders Borg, second left, and Spain's counterpart and President of the EU Council Elena Salgado Mendez, at the EU finance ministers meeting in Brussels, Tuesday, March 16, 2010. Finance ministers of the 27 EU nations review Greek austerity measures and other financial regulations reform to ease the financial crisis. (AP Photo/Yves Logghe)

Canadian finance chief warns US, others on deficit (AP) EU Economy News - Yahoo! News - Tue, 16 Mar 2010 15:18:27 GMT AP - Canadian Finance Minister Jim Flaherty says other developed nations, including the United States, should come up with clearer plans on how they are going to get their weighty budget deficits under control.

EU backs Greece not to need last-resort rescue (AFP) EU Economy News - Yahoo! News - Tue, 16 Mar 2010 21:08:54 GMT Greek Finance Minister Giorgios Papaconstantinou gives a press conference at the end of an Economy and Finance Council meeting at EU headquarters in Brussels. Europe insisted Tuesday that a contingency plan to save Greece from bankruptcy with emergency loans was only prudent foresight and unlikely to be enacted, as Athens pushed for concrete details.(AFP/Georges Gobet)