Cambridge Analytica, the U.K. political consulting firm that closed its doors after a scandal over how it harvested data to influence the last U.S. presidential election, now faces a group of Facebook users in its bankruptcy, Bloomberg News reported. “Data Breach Plaintiffs" filed a notice on Tuesday to appear in the company’s New York bankruptcy. The group is involved in two lawsuits against both Facebook and Cambridge Analytica that seek class-action status on claims that about 87 million Facebook users had their personal information taken without permission.

Romania saw a sharp increase in commercial insolvency in the first four months of this year, the latest data published on the website of the National Office of Trade Registry (ONRC) showed. According to the statistics, the number of commercial companies and authorized natural persons (ANP) in insolvency or suspension increased year-over-year by 17.38 and 35.58 percent, respectively, in January-April, 2018, the Xinhua News Agency reported. According to the ONRC data, 2,965 companies and ANP declared insolvency in the first four months of 2018, while 6,958 others suspended their activity.

Brussels is to propose a €30 billion loan plan for countries hit by economic shocks, as it responds to French calls for a euro zone crisis-fighting budget, the Irish Times reported. The European Investment Stabilisation Function is far less ambitious than ideas put forward by French president Emmanuel Macron, who last year called for a fund amounting to several percentage points of euro zone gross domestic product.

Around half of Germans are against granting debt relief to Greece and around three in 10 want the debt-laden country to quit the euro zone, a survey showed on Friday. The INSA poll for the newspaper Bild showed 46.4 percent of people living in Germany, Europe’s paymaster, thought giving Greece debt relief would be unfair for other euro zone countries, Reuters reported. That compared with around one fifth (18.4 percent) who did not share that view and 9.1 percent who said they did not care.

European bank executives are facing the return of an all too familiar problem: political panic. After years of slowly healing from past crises, European banks have recently had the luxury of turning their focus to boosting profit and shedding bad loans, The Wall Street Journal reported. But the political turmoil in Italy—home to arguably Europe’s most problematic banking sector—has rekindled fears that the euro’s fragility, and authorities’ failure to unify the region’s disparate banking system, will continue to haunt the industry.

Signs of overheating have begun to emerge in the Irish economy, the Organisation for Economic Cooperation and Development (OECD) has warned. In its latest economic outlook report, the Paris-based agency said new mortgage loans and loans to small firms – largely driven by construction-related activity – had risen sharply in recent months, the Irish Times reported. While the Central Bank’s lending restrictions, such as the loan-to-value and loan-to-income caps, have reduced the share of risky loans, the OECD said they may need to be extended to cool the current level of credit growth.

Bulgaria’s Constitutional Court will rule on whether amendments to Bulgaria’s bank insolvency law, passed by Parliament earlier this year, breach constitutional provisions, the Sofia Globe reported. The controversial amendments, tabled by the opposition Movement for Rights and Freedoms (MRF) but backed by the government coalition, have been criticised by legal experts for introducing a retroactive effect.

Weaker growth in the eurozone would “significantly affect Portugal”, the International Monetary Fund warned on Tuesday, saying “lingering domestic vulnerabilities” would amplify any external shock to the former bailout country’s economic recovery, the Financial Times reported. The caution came as fallout from the Italian political crisis pushed Portugal’s 10-year debt yield up 12 basis points on Tuesday. Lisbon’s PSI 20 stock market index fell 2.4 per cent. Within this, shares in Millennium BCP, the country’s largest listed bank, shed more than 7 per cent.

Spanish stocks followed Italian equities sharply lower on Tuesday, knocked by uncertainty over the future of the minority government of Mariano Rajoy and extending declines for a fifth straight day, the Financial Times reported. The Ibex 35 index of leading Spanish shares fell by 2.5 per cent, following a decline of 0.6 per cent on Monday and 1.7 per cent on Friday. The Madrid bourse has lost almost 4.5 per cent over the course of May, and is down more than 5 per cent since the start of the year.

Lufthansa will not be investigated for market abuse over rising ticket prices following the collapse of local rival Air Berlin, the German cartel office said on Tuesday. The watchdog had received complaints over high ticket prices and had been looking into the matter with a view to decide whether to instigate a full investigation, the International New York Times reported on a Reuters story. Air Berlin collapsed in October last year, leaving Lufthansa with a monopoly on some German domestic routes for a few months.