New debt woes push Spain closer to bailout

Spain took another lurch towards the financial abyss yesterday as fears of a full-scale bailout sent its borrowing costs soaring and shares across the world tumbling.

The financial pressure on recession-hit Spain ratcheted up further today

Spain bailout fears intensify

Investors ran for cover today as fears that Spain was next in line for a full-blown government bailout intensified.

Leading article: A sick banking culture that cannot be tolerated

Fining a bank has little effect. What is required is naming and shaming

Sceptics turn against Spain bailout hopes as the rally falters

Bond markets fall back after initial euphoria and European Central Bank gets tough on clearing up huge property debt

Leading article: Ireland's Yes drowned out by Spain

The decisive Yes on the eurozone fiscal compact is meaningful enough for Ireland itself, signalling both a clear-eyed assessment of the country's debts and a commitment to its place in the single currency. It means even more for the rest of Europe, however. As the first to vote on the treaty, Ireland has set the tone.

Socialist leader Evangelos Venizelos with President Karolos Papoulias

Last-ditch bid to form coalition after socialist leader hands back mandate to Greek president

Greece's president will meet with political party leaders on Sunday in a last-ditch effort to broker a deal for a coalition government and avoid another general election.

Wet bank holiday in Britain

Damp weekend adds to washout on high streets

Sales hit record low as people stay at home and take shelter from the continuing wet weather

Versace shows a clean pair of heels on catwalk and in the boardroom

After dark times following the murder of founder Gianni, the fashion firm has turned the corner and is back in profit

Questions raised over Lloyds sell-off plan

A major question mark was raised over plans by state-backed Lloyds Banking Group to sell 632 branches to Co-op bank after Lloyds said the deal was proving "highly complex" and that a further market update would be needed within the next three months. Lloyds made the admission alongside plans to create 500 new jobs to help service the business when it is spun off from Lloyds.

Portugal hit by austerity strike

A strike by Portugal's largest trade union confederation forced the cancellation of most public transport services today as well as hitting schools and hospital services.

Greece secures bailout to avoid debt default

Greece won a second massive financial bailout in the early hours of today when its partners in the 17-country eurozone finally stitched together a 130 billion euro rescue, meant to avoid a potentially disastrous default and secure the euro currency's future.

Angela Merkel optimistic Greek bailout can be agreed next week

The leaders of Germany, Italy and Greece are “optimistic” that a deal on a second massive bailout for Athens can be clinched next week, a spokesman for German Chancellor Angela Merkel said Friday.

EU threatens legal action against Hungary

The European Union stepped up the pressure today against Hungary, saying its fiscal policies were unsustainable and threatening legal action over a new constitution that some fear could push the country back into authoritarianism.

George Osborne will detail plans today for a wide-ranging overhaul of the structure of Britain's major banks

Osborne backs 'firewall' to protect consumers

George Osborne will outline plans today for a wide-ranging overhaul of the structure of Britain's major banks, forcing them to separate their high street and investment operations.

George Osborne will detail plans today for a wide-ranging overhaul of the structure of Britain's major banks

Osborne to back bank reforms – but not for eight years

Chancellor pledges to implement Vickers Plan in full in bid to avoid further bailouts

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Day In a Page

Burgundy, the River Rhone & Provence – MS Swiss Corona - seven nights from £999pp
Lake Maggiore, Orta and the Matterhorn – seven nights from £899pp
Sicily – seven nights from £939pp
Pompeii, Capri and the Bay of Naples - seven nights from £799pp
Istanbul Ephesus & Troy – six nights from £859pp
Mary Rose – two nights from £319pp
Save the tiger: The animals bred for bones on China’s tiger farms

The animals bred for bones on China’s tiger farms

The big cats kept in captivity to perform for paying audiences and then, when dead, their bodies used to fortify wine
A former custard factory, a Midlands bog and a Leeds cemetery all included in top 50 hidden spots in the UK

A former custard factory, a Midlands bog and a Leeds cemetery

Introducing the top 50 hidden spots in Britain
Ebola epidemic: Plagued by fear

Ebola epidemic: Plagued by fear

How a disease that has claimed fewer than 2,000 victims in its history has earned a place in the darkest corner of the public's imagination
Chris Pratt: From 'Parks and Recreation' to 'Guardians of the Galaxy'

From 'Parks and Recreation' to 'Guardians of the Galaxy'

He was homeless in Hawaii when he got his big break. Now the comic actor Chris Pratt is Hollywood's new favourite action star
How live cinema screenings can boost arts audiences

How live cinema screenings can boost arts audiences

Broadcasting plays and exhibitions to cinemas is a sure-fire box office smash
Shipping container hotels: Pop-up hotels filling a niche

Pop-up hotels filling a niche

Spending the night in a shipping container doesn't sound appealing, but these mobile crash pads are popping up at the summer's biggest events
Native American headdresses are not fashion accessories

Feather dust-up

A Canadian festival has banned Native American headwear. Haven't we been here before?
Boris Johnson's war on diesel

Boris Johnson's war on diesel

11m cars here run on diesel. It's seen as a greener alternative to unleaded petrol. So why is London's mayor on a crusade against the black pump?
5 best waterproof cameras

Splash and flash: 5 best waterproof cameras

Don't let water stop you taking snaps with one of these machines that will take you from the sand to meters deep
Louis van Gaal interview: Manchester United manager discusses tactics and rebuilding after the David Moyes era

Louis van Gaal interview

Manchester United manager discusses tactics and rebuilding after the David Moyes era
Will Gore: The goodwill shown by fans towards Alastair Cook will evaporate rapidly if India win the series

Will Gore: Outside Edge

The goodwill shown by fans towards Alastair Cook will evaporate rapidly if India win the series
The children were playing in the street with toy guns. The air strikes were tragically real

The air strikes were tragically real

The children were playing in the street with toy guns
Boozy, ignorant, intolerant, but very polite – The British, as others see us

Britain as others see us

Boozy, ignorant, intolerant, but very polite
How did our legends really begin?

How did our legends really begin?

Applying the theory of evolution to the world's many mythologies
Watch out: Lambrusco is back on the menu

Lambrusco is back on the menu

Naff Seventies corner-shop staple is this year's Aperol Spritz