European Union leaders are meeting in Brussels for a summit on a proposed budget that has divided the 27-nation bloc already facing economic crisis. In a battle pitting wealthy member states against those seeking a bigger aid budget, British Prime Minister David Cameron has threatened to use his veto unless spending levels are frozen. The […]
EU Leaders Brace for Bitter Budget Battle
Posted November 22nd, 2012 at 9:25 am (UTC-5)
European Union leaders prepared Thursday for a summit on a proposed budget that has divided the 27-nation bloc already facing economic crisis. The two-day summit officially opens Thursday evening in Brussels. In a battle pitting wealthy member states against those seeking a bigger aid budget, British Prime Minister David Cameron has threatened to use his […]
Europe, Russia Move Ahead with Mars Mission
Posted November 21st, 2012 at 11:55 am (UTC-5)
The European Space Agency has announced a tentative agreement with Russia for an unmanned mission to explore signs of life on Mars. The project, approved at a meeting in Naples Wednesday, calls for sending an orbital probe to Mars in 2016 that would look for traces of methane gas and other biological clues in the […]
Greek Bailout Money Still in Limbo
Posted November 21st, 2012 at 10:20 am (UTC-5)
Greece’s international lenders have failed for the second week in a row to reach an agreement on releasing more bailout money to the debt-ridden Athens government. Eurozone finance chiefs, the International Monetary Fund and the European Central Bank ended a lengthy meeting in Brussels early Wednesday without agreeing on terms for sending a $40 billion […]
Eurozone Finance Chiefs Resuming Greek Bailout Talks
Posted November 20th, 2012 at 11:40 am (UTC-5)
Eurozone finance chiefs are meeting in Brussels in another effort to decide whether to release more bailout money to debt-ridden Greece. Greece hopes the finance ministers on Tuesday will approve a $40 billion rescue segment the Athens government says it needs to avoid a default on its financial obligations. The payment is part of Greece’s […]
Eurozone Economy Hits Second Recession in Three Years
Posted November 15th, 2012 at 10:55 am (UTC-5)
Europe’s euro currency bloc says it has fallen into its second recession in three years. The 17-nation eurozone said Thursday its economy contracted one-tenth of a percent in the July-to-September period, following a drop of two-tenths of one percent in the previous three months. That meets the common definition of a recession — two straight […]
European Governments Resolute in Face of Anti-Austerity Protests
Posted November 14th, 2012 at 12:15 pm (UTC-5)
Wednesday’s anti-austerity protests across Europe are again disrupting life in major cities, but European leaders are pressing the campaign to end years of over-spending that caused the continent’s debt crisis. Workers in Athens, Madrid, Lisbon, Rome and elsewhere are protesting the deep cuts in popular social programs, pensions and other government programs their governments have […]
Strikes Across Europe Against Unemployment, Austerity Measures
Posted November 14th, 2012 at 10:45 am (UTC-5)
Thousands of workers are holding coordinated strikes in countries across Europe to protest their governments’ deep spending cuts and tax hikes. The European Trade Union Confederation (ETUC) organized Wednesday’s action, which called for simultaneous strikes in Spain, Portugal, Greece and Italy, and demonstrations and rallies in other countries. In Spain, baton-wielding riot police clashed with […]
Strikes Across Europe Against Unemployment, Austerity Measures
Posted November 14th, 2012 at 10:15 am (UTC-5)
Thousands of workers are holding coordinated strikes in countries across Europe to protest their governments’ deep spending cuts and tax hikes. The European Trade Union Confederation (ETUC) organized Tuesday’s action, which called for simultaneous strikes in Spain, Portugal, Greece and Italy, and demonstrations and rallies in other countries. In Spain, baton-wielding riot police clashed with […]
Greece Sells Bonds to Avoid Default Friday
Posted November 13th, 2012 at 1:40 pm (UTC-5)
Cash-strapped Greece has raised the money it needs to help it avoid a default later this week, but says it still urgently needs more bailout funds in the coming days. The Athens government sold more than $5 billion in bonds Tuesday, which coupled with other cash will allow it to pay off more than $6 […]
