BERLIN - Engineering a financial bailout for Cyprus in March was such a chaotic process that top European officials say it is time to rethink how the region manages its crisis — and who should be involved. Officials say the International Monetary Fund, which has contributed financial expertise and billions in emergency loans, may no longer be needed as a key decision-making partner. And they say that the eurozone would be able to make decisions and take action more quickly if it wasn't bound by the need for unanimous agreement among its 17 member countries.

Leading and selected first round scores in the European Tour and Challenge Tour Madeira Islands Open on Thursday (GBR/IRL unless stated, par 72): 64 - Lloyd Saltman 66 - Richard Bland 67 - Craig Lee, Mark Tullo (CHI), Joakim Lagergren (SWE) 68 - Ross McGowan 69 - Jarmo Sandelin (SWE), Max Glauert (GER) 70 - Mikael Lundberg (SWE), Kim Sihwan (NOR), Roope Kakko (FIN), John Parry, Peter Whiteford, Soren Hansen (DEN), Guillaume Cambis (FRA), Christophe

The head of Societe Generale's Russian unit was facing up to seven years in prison after investigators charged him Thursday with soliciting a $1.5-million bribe in what one banking source said was a possible setup to muscle the French lender out of the country. The detention of Rosbank chief Vladimir Golubkov has sent shock waves through Russia's banking community, and a senior Western banker said the arrests appeared to be a state-orchestrated move to drive out Societe Generale amid a Kremlin drive to consolidate strategic assets.

VATICAN CITY - Pope Francis has denounced the global financial system, blasting the "cult of money" that he says is tyrannizing the poor and turning humans into expendable consumer goods. In his first major speech on the subject, Francis demanded Thursday that financial and political leaders reform the global financial system to make it more ethical and concerned for the common good. He said: "Money has to serve, not to rule!"