A recent rebound in oil prices is built on flimsy foundations, the International Energy Agency warned Friday, with another sharp fall possible and few signs that cheap fuel was giving growth a real boost.

Oil prices plummeted by 60 percent between June and January, but have since come off six-year lows and stabilised somewhat, with London's benchmark Brent trading around $60 per barrel and WTI in the United States fluctuating around $50 per barrel.

EU Commission chief Jean-Claude Juncker complained Friday about a lack of progress in talks on Greece's bailout, but insisted there was no chance of a failure that could drive the country out of the eurozone.

"I am not satisfied by the developments in the recent weeks. I don't think we have made sufficient progress, but we will try to push in the direction of a succesful conclusion of the issues we have to deal with," he said ahead of talks with Greek premier Alexis Tsipras.

Cyprus will not need all of the 10-billion-euro bailout it received in 2013 as its economy recovers faster than expected, the country's finance minister told Agence France Presse.

"(The economy) is much better, but I'm not saying that it is good," Harris Georgiades said ahead of the second anniversary of the "unprecedented crisis" that shook the eurozone and left the Mediterranean island teetering on the brink of bankruptcy. 

Three major U.S. daily newspapers announced plans Thursday to make their articles available through a Dutch-based startup pioneering the use of "micropayments" for news.

The New York Times, The Wall Street Journal and The Washington Post agreed to work with Blendle, which describes itself as a "digital newsstand" allowing readers to buy individual articles online, according to a joint statement.

China is in talks with the International Monetary Fund for the Washington-based institution to add the yuan to its basket of reserve currencies, a top banking official said Thursday as Beijing seeks a greater global role for the unit.

It hopes the yuan will become part of the IMF's "special drawing rights" (SDR) assets "in the foreseeable future", said vice central bank governor Yi Gang.

Greece and its international creditors were to begin fiscal talks in Athens on Thursday, with technical experts getting to grips on drawing up a new economic plan for the troubled eurozone nation.

Finance Minister Yanis Varoufakis said a "fact-finding mission" would gather data to assist the talks held in Brussels.

The French economy, the second largest in the eurozone, remained stuck in deflation in February, according to official figures published Thursday, as the European Central Bank launched an anti-deflation program.

Consumer rices declined by 0.3 percent in February compared to the same period last year, the national statistics office said in a statement.

The euro resumed its slump Thursday, sitting around 12-year lows against the dollar, as the European Central Bank's new stimulus and the likelihood of a U.S. rate hike push the embattled unit closer to parity with the greenback.

In Tokyo afternoon trade, the common currency fell to $1.0515, down from $1.0548 in New York where it hit $1.0510 at one stage.

The European Central Bank's massive bond purchase programme will not ease pressure on governments to reform, but actually magnify the benefits of those reforms, ECB president Mario Draghi said Wednesday.

"The beneficial impact of our asset purchases on financing conditions, rather than reducing the incentives for reforms, will actually increase the benefits of such reforms," Draghi told a banking conference in Frankfurt.

In a rare piece of good news for Greek leaders, the European Stability Mechanism (ESM) confirmed Tuesday that it has been forced to throw the cash-strapped country a half-billion-euro lifeline. 

After a week in which the Eurogroup of finance ministers and the European Central Bank turned the screws on Athens, the 555 million euros ($593 million) will give its radical new government a brief respite from its creditors.