Topic: Italy

International drugmakers are working with European authorities on emergency plans to keep medicines flowing into Greece if the country crashes out of the euro.

The euro zone is facing its darkest hour but will emerge more competitive than in the past, the chief executive of the London Stock Exchange told CNBC on Friday, though he noted that smaller businesses are very important to Europe’s recovery.

European shares were headed for another day of losses on Friday, ending a dismal week in which the euro zone debt crisis dragged equity markets to new 2012 lows.

If Greece goes: An exit is likely to shatter faith in the eurozone’s integrity for ever. The Financial Times reports.

A Greek exit from the euro zone could expose the European Central Bank and the currency bloc it seeks to protect to hundreds of billions of euros in losses, landing Germany and its partners with a crippling bill.

Spain officially slipped in to recession in the first quarter, final figures confirmed on Thursday, leaving the country threatened with a prolonged slump as the turmoil-wracked euro zone struggles to balance austerity with growth.

European shares signaled a slight rebound on Thursday but the ongoing problems in Greece still weighed on sentiment as the country announced a second round of elections would be held on June 17 and European leaders talked of a Greek departure from the euro zone.

A potential exit by Greece from the euro, even if it leads to a run on European banks, would not bring down Portugal’s banking system, the chief executive of Portugal’s largest publicly listed bank told CNBC on Wednesday.

European shares closed broadly lower on Wednesday as concerns around Greece's political and financial crisis sapped risk appetite and with strategists advising investors to buy defensive stocks.

French President Francois Hollande may have his differences with German Chancellor Angela Merkel, but Europe’s two most powerful leaders have agreed in principle to forge a growth strategy for Europe in time for next month’s European Union heads of state summit.

European shares are called to open lower as the Greek political crisis weighs on investor sentiment. Greek political parties failed to form a government on Tuesday, opening the door to fresh elections in June, which could result in the country leaving the euro zone.

Moody's Investors Service downgraded the long-term debt and deposit ratings for 26 Italian banks on Monday, citing the country's recession and rising bad debt levels.    

European shares provisionally closed at their lowest level since the start of 2012, led by a fresh slide in euro zone banks, after attempts to form a government in Greece collapsed.

European shares are expected to open broadly higher Tuesday as a surprise uptick in German GDP boosts sentiment.

Greece has a 436 million euro principal repayment due Tuesday. So far, the country has not decided what to do.