Spanish Banks Beat Expectations

MADRID—A new audit shows Spain would need less capital for its banks than initially estimated, clearing the way for the cleanup of the ailing sector at a time of uncertainty about the country's finances.

European Central Bank Leaves Rate Unchanged at 1 Percent

FRANKFURT — The European Central Bank left its main interest rate unchanged Wednesday, choosing to put the onus on political leaders to address an increasingly dangerous level of tension in the euro zone.