Greek unions and employers have joined forces to reject a demand from the country’s international creditors that they cut wages to help the Athens government win approval for its second bailout in two years. The unusual alliance of labor and management groups told the government Friday that proposals to cut the country’s minimum wage and […]
Greek Unions, Employers Reject Wage Cut Plan
Posted February 3rd, 2012 at 3:25 pm (UTC-5)
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Severe Winter Weather in Europe Raises Fears of Gas Shortages
Posted February 3rd, 2012 at 12:40 pm (UTC-5)
Severe winter weather that is gripping central and eastern Europe has raised concerns about heating gas supplies in eight nations. A spokeswoman for the European Union energy commissioner confirmed on Friday that there has been a decrease in gas deliveries across central Europe from Italy to Poland. Also affected are Austria, Greece, Romania, Hungary, Slovakia […]
European Cold Spell Kills 123, No Relief in Sight
Posted February 2nd, 2012 at 8:05 pm (UTC-5)
Weather forecasters predict no immediate relief from the deadly cold wave that is gripping central and eastern Europe. The frigid temperatures have killed at least 123 people this week with thermometers plunging as low as minus 25 degrees Celsius in some places. In Serbia, some farmers reported finding chickens frozen to death with their eggs […]
Greece Likely to Need $20 Billion More
Posted February 2nd, 2012 at 3:25 pm (UTC-5)
Financial experts are concluding that Greece may need another $20-billion cash infusion even if it eventually completes contentious negotiations with its private creditors to cut in half the money it owes them. For weeks now, the Athens government has been attempting to finish talks with 32 large financial institutions to trim $130 billion of its […]
China Says It Could Help Rescue Europe
Posted February 2nd, 2012 at 11:15 am (UTC-5)
China says it is considering increasing its investment in Europe’s rescue funds for debt-ridden countries, and possibly providing aid through the International Monetary Fund. After meeting Thursday with German Chancellor Angela Merkel in Beijing, Premier Wen Jiabao said China could invest in Europe’s temporary bailout fund or the new $656 billion permanent fund set to […]
Cold Weather Kills Nearly 80 in Europe
Posted February 1st, 2012 at 1:10 pm (UTC-5)
Nearly 80 people have died in central and eastern Europe as a severe cold spell brought some of the lowest temperatures seen in decades. In Ukraine, officials reported 43 deaths from hypothermia over the past six days. Most of the deaths were homeless people, but seven others died in their homes. In Romania, six people […]
European Cold Spell Kills More Than 50
Posted January 31st, 2012 at 11:35 am (UTC-5)
Cold weather blanketing much of eastern and central Europe has killed more than 50 people in the last five days. Emergency services authorities in Ukraine said Tuesday 30 people, mostly the homeless, died as a result of the cold in recent days. Authorities say another 500 people were treated at hospitals for frostbite and other […]
Europe Again Turns Its Focus on Greece’s Debt Woes
Posted January 31st, 2012 at 10:10 am (UTC-5)
After adopting a continent-wide plan to control government spending, European leaders are again focusing on the perilous financial state of Greece. Greece, despite several weeks of negotiations, has yet to reach an agreement with its private creditors to cut its debt by $130 billion, half the amount the country owes them. European heads of state […]
Cold Weather Kills 36 Across Europe
Posted January 30th, 2012 at 7:00 pm (UTC-5)
Weather forecasters say there is no immediate relief in sight to the eastern European cold snap that has killed at least 36 people since Saturday. Forecasters expect temperatures, which have been as low as minus 30 degrees Celsius in some places, to drop even more this week. Police in Ukraine say 18 people, most of […]
EU Leaders Adopt Bigger Bailout Fund
Posted January 30th, 2012 at 5:55 pm (UTC-5)
European Union leaders have approved a new, permanent $661 billion bailout fund and agreed to strict spending limits to avoid future debt crises. EU heads of state held their first summit of the year Monday in Brussels, where they immediately saw a reminder of the continent’s financial woes — Belgian workers on strike for the […]
