The jobless rate across the 17 counties that use the euro currency rose to 12 percent in January and February of 2013, adding to signs that the region's economic slump may not be over.
Strict controls on the level of withdrawals have prevented a bank run in Cyprus. But the restrictions are raising fresh doubts about the future of the euro.
European finance ministers are meeting in Brussels today, and at the top of their agenda is Cyprus. The small Mediterranean island nation, which has 850,000 people, is in desperate need of a bailout.
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.
Marketplace's Stephen Beard says September is going to hold some big questions. Will the European Central Bank put together its rescue plan? Will Greece get its next chunk of money to allow it to stay in the euro?
This week, all eyes are on Greece. The country's prime minister is meeting with German and French officials. He's expected to officially ask for extension in meeting the country's fiscal targets.
In his remarks yesterday, the European Central Bank's Mario Draghi compared the evolution of the euro to that of a bumblebee. Entomologists say that's a confusing metaphor.
