How Portugal came back from the brink — and why austerity could have played a key role

In 2011 Portugal obtained a bailout worth 78 billion euros ($92.2 billion) from Europe and the International Monetary Fund. Its economy contracted as much as 3.2 percent in 2012. During the crisis, the unemployment rate nearly hit 18 percent and among young people...

Commerzbank swings to loss in second quarter on weak markets, restructuring

Commerzbank swung to a net loss in the second quarter amid weak markets and after booking job-related restructuring charges of about 807 million euros. The 637 million euro net loss at Germany’s second-largest lender after Deutsche Bank was greater than...