Europe debt crisis

Spain now pays more than 6.6 percent on its 10-year bonds. The U.S. pays just over 1.6 percent. Eurozone debt, however, may yet hurt both sides of the Atlantic.

The big story in Brussels, as it has been for the last two years, is the eurozone crisis. So is any progress being made?

The European Commission recommended today that Europe bring its banking system into closer union, so that stronger parts of the EU can help out weaker links without disrupting individual governments.

The European Commission has recommended today that banks in the eurozone create a union to help regulate and bolster failing banks.

Although Spanish culture frowns upon talking about money, a financial crisis there is teaching everyone a little more about economics.

A poll this weekend shows Greek voters support politicians who favor the EU bailout of Greece. Elections earlier this month rattled the markets when voters came out in favor of political groups that opposed the bailout and austerity.

The Spanish government is wrangling with how to rescue its troubled banks. The Spanish bank Bankia needs about $24 billion in new capital.

Markets in Europe are mixed today: Greece is way up and Spain is down. Though both countries face major economic troubles, the level of uncertainty may be the key in determining their market variation.

Euro leaders say they are committed to Greece staying with the euro, but talk of an exit is growing louder. Finance ministers have advised euro zone members to draw up contingency plans for what's being called an "amiable divorce" from Greece.

Although eurozone members want Greece to keep the euro, contingency plans are being made in case there is a parting of ways. The cost and wider economic effects of a possible Greek exit are highly uncertain.