The next tranche of bailout cash cannot be released next week, even though the Greek parliament narrowly backed more unpopular austerity measures yesterday.

Investors are looking at the world in the wake of President Barack Obama's re-election victory. And they don't like what they see.

Austerity package was crucial to obtaining further bailout funds

Chancellor Angela Merkel’s meeting with David Cameron was overshadowed by fierce criticism of her government’s policies in Germany, where she stands accused of preaching austerity for the rest of Europe while going on a spending spree at home.

The euphoria surrounding president Barack Obama's re-election proved to be short-lived today as investors' focus switched to the approaching “fiscal cliff” in the US.

Two-year German bond yields fell below zero yesterday as low-risk assets rallied before an uncertain United States presidential election and another make-or-break parliamentary vote in Greece.

Three UK tourists have appeared in court in Cyprus accused of murdering a young British soldier.

Talk of Greece exiting the euro will end after critical votes in parliament this week on new austerity measures, labour reforms and the 2013 budget, Greek Prime Minister Antonis Samaras said yesterday.

Curves and length signal both frailty and strength, finds Roger Dobson

Priests at holy site are shocked by supplier’s demand for arrears and interest of £1.5m

Journalist who faced three years in jail for exposing tax avoidance praises judge

Italy is the land of the automobile and whether it's parking on pavements or adopting the national driving philosophy of “Why brake when you can swerve?”, locals give most of their best performances on four wheels. It has emerged that a particularly contentious manoeuvre or “inchino” (little bow) took place during the Targa Florio car rally in Sicily last month, when participants were allowed to drive by – and into – one of Italy's most celebrated archaeological sites, the Greek theatre in Syracuse.

A Turkish businessman gave disgraced tycoon Asil Nadir more than £4m to fund a lavish lifestyle in London’s Mayfair after he returned to Britain to face trial for plundering his own company, the Old Bailey heard today.

Remember the name Costas Vaxevanis. He is the Greek journalist who has just been committed for trial for breaching the country's privacy legislation. His supposed crime? Publishing the names of 2,000 of his fellow countrymen who hold Swiss bank accounts with HSBC. It is hard to second-guess other people's judicial systems, but if ever there was a case for invoking a public interest defence, this is surely it. That list represents a microcosm of the lax law enforcement, rampant tax evasion and sheer cheating that combined to bring the Greek economy low and imperil the euro.