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Financial crisis

Key ECB measures have calmed crisis _ for now
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 creditors start new austerity inspection
Greece's conservative prime minister said the country is showing its first signs of recovery, as international debt inspectors returned to Athens ...
Top EU official worried by north-south divide
A top European Union official says he's worried by a widening gap between the continent's financially troubled countries — mostly in the south — and ...
Spain sells bonds with ease despite Cyprus crisis
Spain has sold 4.31 billion euros ($5.53 billion) in bonds at relatively stable interest rates, indicating the financial crisis in Cyprus is having ...
Cyprus bank workers to protest looming job cuts
Bank employees in Cyprus will walk off the job for two hours and march toward parliament to protest against looming job and benefit cuts being taken ...
Greece ends tax spat ahead of new inspection
Parties in Greece's coalition government announced a compromise Wednesday over an emergency tax seen as a symbol of harsh austerity measures — a move ...
Pressure mounts on Portuguese government
Opposition parties in Portugal presented a motion of no confidence in the government Wednesday, giving voice to widespread discontent as the ...
IMF agrees to its part of Cypriot bailout
The International Monetary Fund said Wednesday it will contribute 1 billion euros to an overall financial rescue package of 10 billion euros ($12.
EU flag flies over Prague castle, not all happy
For the first time in almost a decade, the blue-and-gold European Union flag is flying above Prague Castle. But there's already a movement to take it ...
ECB to face Cyprus questions at rate meeting
European Central Bank President Mario Draghi will try Thursday to reassure markets that Cyprus's chaotic bail-out won't worsen the euro currency ...
Austrian court rejects challenge to euro fund
Austria's constitutional court has thrown out a challenge against the ratification of the euro area's rescue fund, the European Stability Mechanism.
Spain PM says economy will grow in 2014
Prime Minister Mariano Rajoy says Spain's recession-hit economy will return to growth in 2014 and begin creating jobs again. Rajoy said Wednesday that ...
Cypriot finance minister resigns amid crisis probe
Finance minister Michalis Sarris resigned Tuesday after less than five weeks in the job, as the government begins an investigation into how the ...
Euro area unemployment at record 12 percent
The eurozone economy has passed another bleak milestone. Official figures Tuesday showed that unemployment across the 17 European Union countries that ...
Turkish Cypriots: Solidarity tinged with relief
Barbed wire-topped walls stretch across the narrow, twisted streets of Nicosia's walled medieval city, where abandoned buildings extend across a ...
Cyprus appoints judges to probe economic crash
Cyprus' president has appointed a panel of three former supreme court judges to investigate how the country ended up nearly bankrupt. President Nicos ...
Spanish unemployment edged down in March
Spanish government figures show that the number of people registered as unemployed edged down by a little under 5,000 in March, the first reduction ...
Greek banks get more time to recapitalize
Greece's central bank governor says the country's four largest lenders will be given until the end of May to complete a major recapitalization program
Cyprus gains more time to achieve surplus
Cyprus has been granted an extra year — until 2017 — to achieve a targeted budget surplus of 4 percent as part of bailout negotiations with ...
Moscow: no bailout for Russian savers on Cyprus
A senior Russian Cabinet member says his government won't protect Russian depositors who are losing money in Cyprus but may offer assistance to some ...
Cyprus Church leader promises help amid crisis
The leader of Cyprus' Orthodox Christian church vowed to do all he can so that ordinary people "won't go hungry" amid the country's worst financial ...
Bank of Cyprus big savers to lose up to 60 percent
Big depositors at Cyprus' largest bank may be forced to accept losses of up to 60 percent, far more than initially estimated under the European rescue ...
No restrictions on local Cyprus card transactions
Cyprus' central bank tried to kickstart spending in a country left reeling by a 10-day bank closure and financial near-collapse by telling Cypriots ...
President urges Cyprus to 'share the burden'
Cyprus's president called on the country to "share the burden" of solving its financial crisis Friday as banks opened for normal business for the ...
Cypriots anxious as banks reopen with limits
Anxious Cypriots patiently waited in long lines to get at their accounts on Thursday after banks opened for the first time in nearly two weeks, ...