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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 adopted a cap on public spending to try to convince foreign investors that the small eurozone country will not need ...
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 ...
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 ...
US stock market recovers most of an early loss
Stock prices are slightly lower at midday on Wall Street after manufacturing contracted unexpectedly in China this month. The Dow Jones industrial ...
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 ...
Iceland forms center-right govt, halts EU talks
The leader of the center-right Progressive Party was chosen as Iceland's new prime minister Wednesday and promptly announced a halt to talks with 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 ...
Jamie Dimon under pressure ahead of investor vote
Jamie Dimon, chairman and CEO of the country's biggest bank, faces a key test this week: His shareholders are voting on whether to let him keep both ...
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 ...
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 ...
IMF says Cyprus at risk of even deeper recession
The International Monetary Fund said Friday that substantial risks still loom for the Cypriot economy even after a multi-billion dollar international ...
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 ...
New Zealand to sell stake in 2nd power company
New Zealand will sell a minority stake in a second power company this year as part of a plan to balance its books. The government on Thursday ...
Eurozone recession is now longest in currency bloc
The eurozone is now in its longest ever recession — a stubborn slump that has surpassed even the calamity that hit the region in the financial crisis ...
Bank of England sees 'modest, sustained' recovery
The Bank of England predicted a modest and sustained economic recovery for Britain on Wednesday, but tempered hope that the worst might be over with ...
Fitch upgrades Greece's credit rating
Debt-hobbled Greece got a new morale boost Tuesday, with Fitch ratings agency upgrading its sovereign credit grade, a day after the country's European ...
EU to shift bill for bank failures to creditors
European Union governments want to shift the cost of rescuing troubled banks from taxpayers to the banks' creditors — including the holders of large ...
Poll shows favorable views of EU in sharp decline
Positive views of the European Union by its citizens are near all-time lows. And no EU country is plunging faster into the abyss of gloom than France.