(Reuters) - Raising the stakes in Europe's debt crisis, Austria's finance minister said Italy may need a financial rescue because of its high borrowing costs, drawing a furious rebuke on Tuesday from the Italian prime minister.
Maria Fekter's assessment of the euro zone's third largest economy amplified investors' fears that Europe is far from ending 2-1/2 years of turmoil.
(Der Spiegel) - The weekend announcement that Spanish banks would be bailed out briefly drove up markets around the world. But optimism was short lived. The euro crisis is rapidly intensifying and Europe is not prepared.
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