Small Danish bank Fjordbank Mors asked on Friday to be taken over by government administrators and wound up after regulators ordered it to bolster its balance sheet to cover its risks, Reuters reported. Fjordbank Mors is the latest small Danish bank to fail in the wake of the financial crisis, the most significant of which were the 2008 collapse of Roskilde Bank and the downfall in February this year of Amagerbanken.

The French government and banks have agreed on a proposal to make a Greek debt rollover more palatable to creditors, a banking source said on Sunday, confirming a report in Le Figaro newspaper, Reuters reported. Under the plan, creditors would reinvest 70 percent of the proceeds reimbursed when Greek debt falls due, with 50 percent going into new Greek bonds with a maturity of 30 years instead of five, the newspaper said on its Web site.

State-controlled lender WestLB AG said its owners have agreed on a detailed framework to break up the German bank, paving the way after months of haggling to meet European Union demands that it slim down and find a new owner, The Wall Street Journal reported. The plan will be submitted to the European Commission, the EU's executive arm, for approval on June 30 by the German government, after all the current owners' decision-making bodies—including the lower house of Parliament of the German state of North Rhine-Westphalia—formally approve it next week.

A Swedish labor union Thursday threatened to force car maker Saab into bankruptcy proceedings over workers' unpaid wages, The Wall Street Journal reported. Union IF Metall said it now is gathering its members pay slips that haven't been honored in order to prepare requests for payment that will be sent to Saab Automobile. When Saab Automobile receives the requests, likely sometime next week, it will have a week to pay the claims. "If it does not have the money at that point, there is only one thing left to do," said Berko Davidovic, lawyer at IF Metall.

Bank of Ireland reduced the maximum stake the Government might take in the lender to 69 per cent after a majority of subordinated bondholders took up shares in a debt-for-equity-or-cash offer, the Irish Times reported. AIB, meanwhile, said it expected the State’s stake in the bank to “increase substantially” from 93 per cent, further diluting the investments of shareholders. New shares were likely to be issued to the State at “a very significant discount” to the current share price and talks with the Government are expected to be finalised next week, the bank said.

European Union leaders fended off an effort by Greece to water down an austerity and privatization package that is the price for new aid, and EU President Herman Van Rompuy said they were nearing approval on a new rescue program to take Athens until the end of 2014, The Wall Street Journal reported. "Very important decisions have been taken," Greek Prime Minister George Papandreou said in a statement at the end of the first day of a two-day summit.

Seeking to head off a potentially destabilizing Greek default, European governments began the delicate task of convincing their major banks to voluntarily accept losses on their holdings of Greek debt, The Wall Street Journal reported. In both Germany and France, finance-ministry officials met with representatives of their respective countries' leading banks and insurers on Wednesday to discuss how banks would shoulder some of the cost of a second bailout of Greece, people familiar with the matter said.

The family of Seán Quinn have moved to protect their international property empire from Anglo Irish Bank by issuing new shares in seven subsidiaries in Sweden to a company controlled by them, the Irish Times reported. Seven subsidiaries of Quinn Investments Sweden, the holding company behind the family’s properties in Russia, Turkey, Ukraine and India, have issued new shares to a company called Indian Trust AB, which they also control.

Russian businessman Vladimir Antonov said on Wednesday he still wants to take a 30 percent stake in troubled Swedish carmaker Saab, owned by Netherlands-based Swedish Automobile, Reuters reported. Antonov wants to invest 30 million euros in the cash-strapped carmaker. His plans is awaiting approval by the European Investment Bank. Saab is scrambling for funds to restart production after it was halted for most of April, May and June because it couldn't pay suppliers.

Think Global, the Norwegian electric car producer that styled itself as a pioneer of battery-powered driving, filed for bankruptcy on Wednesday after failing to find long-term financing for its business, the Financial Times reported. Ener1, the US lithium-ion battery producer which led a capital increase of Think last year, said that it planned to take a charge on its earnings worth about $35m relating to loans receivable from the company.