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Financial crisis

OECD urges Italy to keep austerity as Rome balks
Italy must continue to bring down its public debt, the Organization for Economic Cooperation and Development said Thursday, even as the country's new ...
Glance: Key ECB measures to calm eurozone crisis
The European Central Bank and its president, Mario Draghi, have played a key role in fighting the government debt crisis afflicting the 17 European ...
Greece's Alpha Bank shares soar on recap deal
Shares in Greece's third largest lender, Alpha Bank, have shot up, a day after the bank announced it had secured enough support from the private ...
May Day strike disrupts transport in Greece
Ferry and train services in Greece have ground to a halt as unions hold a strike for May Day. And hundreds of people are gathering for planned rallies ...
ElBaradei: Egypt leader will need opposition help
Egypt's leading opposition leader Mohamed ElBaradei said Tuesday he believes the Islamist president will eventually be forced to reach out to the ...
Cyprus parliament approves bailout
Cyprus' lawmakers approved on Tuesday a multi-billion bailout agreement with international creditors aimed at preventing the crisis-hit country from ...
Pirate Party has electoral breakthrough in Iceland
Iceland, a nation of seafarers, has been stormed by pirates. They won't be forming the government, but online freedom advocates the Pirate Party were ...
Portugal to cut another $5.2BN in austerity drive
Portugal's government says it has come up with ways of cutting expenditure by another 4 billion euros ($5.2 billion) over coming years, as demanded ...
German consumer confidence rises; unemployment low
Germany's unemployment rate held steady in April, the Federal Labor Agency reported Tuesday, while a survey showed German consumers' mood remained ...
Greece's largest bank backs cash infusion plan
Greece's largest bank has approved a recapitalization plan worth 9.76 billion euros ($12.8 billion), insisting it will raise enough money privately ...
France to slash 24K military jobs, seeking savings
France will cut a further 24,000 military jobs by 2019 as it faces up to its decades of deficit spending while still trying to maintain a force ready ...
Germany to help promote investment in Spain
Spain and Germany say they are setting up a joint program to promote investment in small and medium enterprises in Spain in a bid to reduce the ...
Cyprus tries to make politicians more accountable
Cyprus' president and other politicians will have their immunity from prosecution significantly curbed as part of a package of new reforms aiming to ...
Greek unions call for mass participation in strike
Greece's two largest unions are calling for "mass participation" in a 24-hour general strike and demonstration they have called for May 1 to mark ...
Greek bill opens way for civil service layoffs
Greece's Parliament approved an emergency bill Sunday to pave the way for thousands of public sector layoffs and free up 8.8 billion euros ($11.
Italian policemen shot near new gov't swearing-in
In the very moments Italy's new coalition government was being sworn in, ending months of political paralysis in a country hoping to revive a bleak ...
Iceland returns center-right parties to power
In a dramatic about-face, Icelandic voters have returned to power the center-right parties that led the national economy to collapse five years ago.
Iceland opposition poised to win general election
Five years after Iceland's economic collapse, early returns signaled that austerity-weary voters are favoring the return of a center-right, ...
Spain slashes forecasts and delays deficit targets
Spain slashed its economic forecasts Friday and said it would take two years longer than promised to cut its swollen deficit in an acknowledgement ...
Merkel insists austerity part of Europe's cure
Chancellor Angela Merkel has underlined Germany's insistence that austerity is part of the solution to Europe's financial crisis but emphasized that ...
Swiss central bank keeps some gold in UK, Canada
The Swiss National Bank has for the first time disclosed where it stashes its 1,040 tons of gold, saying almost a third is kept overseas, in Britain ...
Spain's jobless above 6 million for first time
With more than 6 million unemployed for the first time ever, Spain's jobless rate shot up to a record 27.2 percent in the first quarter of 2013, the ...
Cyprus further eases limits on money transfers
Cyprus significantly eased restrictions on money transfers inside and outside the country Thursday to help businesses spur a deeply slumping economy.