Amid the debt crisis that has grabbled Greece and Spain, the Euro rose 0.6% reporting a highest increase since last seven months.

The increase was recorded on Wednesday which is believed to come as efforts of Greece and Spain towards boosting their economy in order to get relief from the debt problems. The dollar, on the contrary, fell significantly putting it under pressure.

A new report has asserted that Spain's unemployment rates are moving up and are at the edge of touching 5 million. The reason being held responsible for the same is the country's recession, which has shown no signs of narrowing down so far and is continuing to persist.

Good news is coming for Spain with Spain's 74-year-old King Juan Carlos finally being discharged from the hospital on Sunday after his successful hip replacement operation and several days of physiotherapy for his recovery.

Spain unveils 200 years old shipwreck's hidden treasures that sank with 500,000 silver coins onboard. The above claims are coming from the Spanish authorities, who said that unveiling some of the treasure from a 200-years-old frigate that sank, have found them more than 500,000 silver coins or a treasure worth approx $500 million.

EU Commission has give bailout approval to four banks of Spain, which were badly hit by the economic crisis, asking them to lower down their loans and investments.

Four of the Spanish Banks, i. e. BFA Bankia SA, NCG Banco, Catalunya Banc and Banco de Valencia SA have got the approval for restructuring from the European Commission.

With the approval in hands, now these banks are eligible to get funding from the European Stability Mechanism. EU said that the balance sheets of these banks will come down by estimated 60% in 2017 from that in2010.

In order to focus and strengthen its core expertise, Siemens AG has entered into a deal with Invensys and is going to buy their rail business. The deal has taken place and Siemens AG has bought the rail business for 1.74 billion pounds.

European Union has given approval to BFA-Bankia SA (BKIA) and three other banks of Spain for bailout from government.

The approval has led the banks to receive recapitalizations in the coming month. Balance sheets of Bankia, Novagalicia Banco and Catalunya Banc will be declined by over 60% by the year of 2017 as compared to that in 2010.