Europe

Spain's borrowing costs have hit a high not seen since last November on news the government has approached the European Central Bank for help bailing out Bankia.

The head of the Vatican Bank, Ettore Gotti Tedeschi, has been sacked for neglecting duties, just a few years after he was embroiled in a money laundering scandal.

Slowing industrial production is the largest headwind facing Northern Europe in the near term, according to Newton's bond manager Paul Brain.

Some of Europe's biggest fund managers, including Amundi and Threadneedle, are dumping euro assets amid rising fears over a possible Greek exit from the single currency.

The number of new funds being launched into the European market has dropped by half from the peak in 2008 as asset managers struggle through a tough business environment.

Europe should turn its back on austerity and its fiscal pact and pursue a pro-growth agenda like the US, according to Fidelity's Trevor Greetham.

EUROPE

Neptune's Rob Burnett has outlined three potential positives for the eurozone as the region struggles through the latest phase of its debt crisis.

Edouard Carmignac said his group is firmly in the China soft landing camp, but has hedged large chunks of its €50bn portfolios against short-term risks.

The eurozone reported zero growth in the first quarter, beating forecasts of a 0.2% contraction and narrowly escaping a technical recession.