Greek unemployment rate hit record high in May

Greece's unemployment rate hit another record high in May of 27.6%, according to the country's statistics body.

French unemployment at new high

The number of unemployed people in France rose to a fresh high last month, official data shows.

Spain formally asks for bank aid

NEW YORK (CNNMoney) -- The Spanish government made a formal request to the Eurogroup on Monday for loans to bailout its troubled banking sector.

Eurozone avoids recession after strong German growth

The eurozone has narrowly avoided returning to recession after recording zero growth in the first three months of the year, figures have shown.