Italy's cabinet on Saturday approved emergency measures aimed at boosting growth and relieving pressure on struggling Italians, from reducing bills and red tape to increasing credit for businesses. "There are many measures in the 'To Do' law," said Prime Minister Enrico Letta at a press conference, referring to the name given to the new decree which is expected to create 30,000 new jobs in infrastructure alone.

The European Central Bank defended in Germany's highest court Tuesday a controversial bond purchase scheme that is credited with pulling back the eurozone from the brink of collapse last year. The Constitutional Court has been asked by critics of the ECB's "Outright Monetary Transactions" to examine whether the scheme is in line with German law or whether it breaches the central bank's mandate. The plaintiffs, a diverse group of German politicians, lawyers and citizens, argue the ECB is creating risks for German taxpayers that their elected representatives cannot control.

German foreign trade gained momentum in April, as both imports and exports grew, data showed Friday, suggesting that Europe's biggest economy is putting behind it the weakness seen in the first quarter. Exports are key to the German economy and have helped the country avoid the worst of the eurozone debt crisis that has engulfed many of its neighbours. In April, German exports rose 1.9 percent from a month earlier in seasonally-adjusted terms to 93.1 billion euros ($123 billion, the national statistics office Destatis said.

By Andreas Rinke BERLIN (Reuters) - China is ready to open up new sectors of its economy to German investors, Chinese Premier Li Keqiang said on Monday, in comments that highlight Beijing's drive for a special bilateral partnership with Berlin bypassing the EU. "If we both come together in an ideal and optimal way, a dream team will emerge," Li told representatives of German business during a visit to Berlin, his first to a European Union capital since becoming premier in March.