Cyprus has until Monday to come up with a new bailout package after the parliament rejected the initial plan that called for a controversial tax on the country’s bank deposits.

European finance ministers struck a major new deal over their debt crisis. They agreed that the European Central Bank -- Europe’s equivalent of the Fed -- should take over the supervision of the continent’s biggest banks.

The European Central Bank says it's going to issue new currency notes next year. The new notes, redesigned to improve security, will feature images from Greek mythology.

European leaders meet in Brussels today for a summit on whether to enact a banking union across the EU and check in on beleaguered Greece.