Pressure on Greek stocks and bonds eased as several newspaper reports hinted that the European Union was quietly crafting a solution for the fiscally troubled euro-zone country.

European shares ended January on a positive note as tension eased surrounding Greece's fiscal woes and solid economic data from the U.S. buoyed investor optimism.

Most Asian markets declined, capping a bad week for a number of regional benchmarks. Technology and resource shares fell across the region, as most markets ended January on a weak note. The Nikkei was down 2.1%.

European Union officials insist there won't be a bailout for Greece, but if the country's borrowing costs continue to climb, the bloc will have to do something to stave off default.

Greece's Finance Minister George Papaconstantinou tells the Journal he hasn't held any discussions with other European governments or the International Monetary Fund about a bailout.

Asian stock markets bounced back Thursday as the U.S. Federal Reserve's more upbeat economic assessment and strong corporate earnings reports spurred investors to buy into beaten-down regional stocks.

This was supposed to be the EU's year. But talk in Davos will be on the rise of a "G-2" world where the U.S. and China are the most important players.

European stock markets ended lower amid rising concerns about the fiscal problems bedeviling Greece and Portugal. The euro slumped against the dollar.

ECB President Jean-Claude Trichet supported a U.S. plan to rein in large banks and urged lawmakers to confirm Ben Bernanke for another term as Fed chairman.

Asian markets suffered another day of declines, with concerns about Chinese bank lending restrictions hurting Hong Kong and Shanghai shares.

Asian stocks were mostly lower Wednesday as investors awaited the Federal Reserve's policy meeting. Australia's index fell 1.6% on losses in financial and materials shares.

Several Chinese banks have ordered some branches to suspend new lending for the rest of this month, suggesting a coordinated effort by Beijing to manage state banks' torrid lending.