Financial crisis

Financial crisis

• Venezuela to create new workers militia

  Venezuela's president has ordered the creation of a new workers' militia to defend the country's "Bolivarian revolution" at a time when the government ... 

• 

  Slovenia adopts debt cap to stave off crisis

  Slovenia's parliament on Friday imposed a cap on public spending in an attempt to convince foreign investors that the small eurozone country will not ... 

• Cyprus ends money controls on 2 more foreign banks

  Cypriot authorities have lifted restrictions on money withdrawals and transfers for international clients of another two foreign banks active in the ... 

• ECB's Draghi: 'Imperative' to set up new bank body

  European Central Bank President Mario Draghi said it was "imperative" that Europe's leaders create a new agency with powers to restructure busted ... 

• 

  Greeks to see no tax relief until budget improves

  Greece's conservative-led government can't lower taxes before the public deficit falls further, the prime minister said Thursday, but he pledged to ... 

• La Scala scales back on productions due to crisis

  La Scala has reduced the number of operas it will stage during the 2013-14 season due to Italy's economic crisis, the theater's general manager said ... 

• Portugal adds growth plan to austerity measures

  Portugal's government says it will offer tax breaks to investors as the bailed-out country looks for ways to spur growth while continuing to cut the ... 

• Spain pays higher interest rates in bond auction

  Spain has had to pay higher interest rates to auction off 4 billion euros ($5.2 billion) in governments bonds as financial markets were unnerved by ... 

• 

  Report: Crisis stoking anti-migrant bias in Europe

  A top human rights group warned Wednesday that the plight of refugees and migrants fleeing wars and economic hardship is worsening in Europe as ... 

• 

  EU steps up fight against tax evasion by end 2013

  The European Union's leaders took a major step in tackling tax-dodgers Wednesday by pushing to end bank secrecy across the bloc's 27 members by the ... 

• 

  Richard Carrion declares IOC presidential bid

  Richard Carrion of Puerto Rico entered the IOC presidential race Wednesday, promising to use his business experience to guide the Olympics through the ... 

• Correction: Cyprus-Breaking Barriers story

  In a story April 27 marking the 10th anniversary of the breaching of the barriers carving up Cyprus, The Associated Press erroneously reported that ... 

• 

  Pope leads pep rally at Vatican, meets with Merkel

  Pope Francis lamented that investment losses by banks trigger more alarm in the economic crisis than the struggle of people to feed their families, ... 

• Union leads march in Rome calling for job creation

  A union of Italian metal workers has led thousands of people in a march through the heart of Rome to press the new government for measures to spur job ... 

• Cyprus drops limits on 8 more foreign banks

  Cyprus on Friday got rid of limits on money transfers and withdrawals for international clients of another eight foreign banks doing business in the ... 

• Glance: Europe's Key Institutions

  Following the chaotic bailout of Cyprus, top European Union officials are saying it's time to rethink how the region manages its crisis — and who ... 

• 

  Greece faces slow, jobless recovery next year

  Greece's deep, six-year recession is likely to end in 2014, but growth will be weak and unemployment will remain above 20 percent for another three ... 

• Fitch downgrades Slovenia amid banking concerns

  Fitch Ratings agency has downgraded Slovenia's credit grade by one notch, citing a weak economic outlook and a frail banking system. It cut the ... 

• IMF says Cyprus at risk of even deeper recession

  The IMF said Friday that substantial risks still loom for the Cypriot economy even after a multi-billion dollar international bailout aimed at ... 

• 

  Top officials call to overhaul euro institutions

  Engineering a financial bailout for Cyprus in March was such a chaotic process that top European officials say it is time to rethink how the region ... 

• 

  Cyprus may presell gas reserves to ease crisis

  Cyprus may presell the country's offshore natural gas reserves to raise cash quickly and pull it out of its deep financial crisis, the country's ... 

• 

  Merkel, Hollande at odds over Europe's way forward

  Germany and France recognize that their cooperation is key to overcoming Europe's persistent economic crisis, but comments Thursday by the leaders of ... 

• Greek strikes halt air travel

  Flights in Greece were halted for four hours Thursday as the country's two largest labor unions staged work stoppages to protest austerity measures ... 

• 

  Ratings firm warns of economic slowdown in Russia

  Russia faces harsh times ahead for its economy unless the government improves the country's poor investment climate and implements long-delayed ... 

• Slovenia govt' confirms union agreed wage cuts

  Slovenia's government has formally approved an agreement it reached with trade unions to cut public sector wages by up to 4.8 percent as part of ...