Francois Hollande calls for Eurozone government  

French President Francois Hollande has called for the creation of a eurozone government and for people to renew their faith in the European project. (Sky News)

Greece faces recession warning as bailout talks set to open

Greece’s most influential think-tank warned of a sharp drop back into recession in a report that came hours after parliament approved a second package of reform measures aimed at securing a new bailout from international lenders. (Reuters)

Italy to list €4bn stake in post office on Milan stock exchange

Italy’s government will fire the starting gun on the flotation of its 153-year-old national post office in the first week of August, kicking off a widely anticipated €12bn privatisation programme. ( Financial Times)

EU takes on Asia, BRIC infrastructure banks

The European Commission launched a financial counter-strike against efforts outside the EU to fuel investment in infrastructure and critical networks. (Politico)

Eurozone borrowing rises to record as recovery remains weak

Debt in the eurozone has reached a record high despite an incipient economic recovery, underlining the challenges governments face in tackling the legacy of the sovereign debt crisis. ( Financial Times)

Spain’s jobless rate drops as government eyes elections

Statistics said Spain's unemployment rate dropped to 22.4%  in the second quarter, welcome news for the governing Popular Party as it prepares for upcoming general elections. (AP)