The euro on Friday clung to gains eked out in volatile overnight trade but looked increasingly vulnerable as European leaders remained deeply divided ahead of a weekend summit on the region's debt crisis. The euro, last at $1.3786 , has kept well off its nine-month low hit in early October, however, despite a widening in

Commerzbank Chief Executive Martin Blessing called for Greece to declare insolvency and restructure its debt, according to German daily Bild. "It is not enough to just take writedowns on bank balance sheets," Blessing told the paper in an interview published on Friday, adding that Greece could not be helped and markets could not be calmed

Greek lawmakers gave on Thursday final approval for an austerity law cutting wages and hiking taxes, crucial for the country to receive a next batch of bailout funds and avoid bankruptcy. All but one of the ruling Socialist PASOK party's deputies voted in favour of all the provisions in the law, despite two days of

Asian shares inched up while the euro clung to overnight gains on Friday, but markets largely stayed within range, as investors awaited a weekend meeting of European leaders for signs of progress in resolving the region's debt crisis. Pressures remained on investors to square out positions given the increasing uncertainty on when the crisis would

Deep divisions between France and Germany mean they will make scant progress on strengthening the euro zone bailout fund at a summit on Sunday, in a sign that Europe's leaders are still some way from getting a grip on the bloc's debt crisis. France and Germany said in a joint statement on Thursday that European

EU member states have agreed that around 100 billion euros is needed to recapitalise the European banking system, but splits remain before a high-profile summit on Sunday over how to strengthen the euro zone's bailout fund. EU officials told Reuters all 27 member states were now agreed that just short of 100 billion euros ($138