Through an orderly sale of state assets each euro-zone country would be able to pay off as much sovereign debt as necessary.

ECONOMIST: Letters: On the euro zone, Irish banks, India, veterans, women, jobs, seasteading, Vladimir Putin | The

But demand at a sale of 10-year bonds from Germany, the euro zone's safe haven, was surprisingly weak.

WSJ: European Stocks Catch a Bounce

Europe-focused exporters were under pressure in Asia as investors continued to fret over euro-zone debt problems, with sentiment cautious before the Spanish debt sale.

WSJ: Asia Markets End Mixed