Financial crisis news and stories by mail.com

Financial crisis

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, ...
Economic crisis sets back peace in divided Cyprus
When the barriers carving Cyprus in half were finally breached 10 years ago this week, Turkish Cypriot Fethi Akinci forged what some might consider ...
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.
Italy premier-designate short of securing support
Italy's premier-designate, Enrico Letta, said candidly Thursday he is still short of securing support for a ruling coalition after Silvio Berlusconi's ...
Sales inch up 1 percent at French retailer Kering
Kering says revenues rose 1 percent in the first quarter of the year, unusually little growth for the French luxury and retail group whose Puma brand ...
Greece pulls firing provision from austerity bill
Greece's government has withdrawn a key labor reform from a new austerity bill, following strong objections by experts and a widely reported rift ...
Portugal celebrates revolution, attacks austerity
Tens of thousands of Portuguese are marching through towns and cities in annual commemorations of the 1974 Carnation Revolution, which ousted a ...
Spain's Q1 unemployment jumps to record 27.2 pct
Spain's National Statistics Institute says the country's unemployment rate shot up to a record 27.2 percent in the first quarter of 2013. The agency ...
German finance minister digs in on austerity
Germany's finance minister is insisting that Europe can't spend its way out of its economic problems — digging in against mounting criticism of the ...
European recession hits major car makers
Europe's stubborn recession cut deeply into profits at major automakers Ford, Volkswagen and Daimler, first-quarter results showed Wednesday as the ...