European Debt | featured news

Greek unions announced on Wednesday that they would stage a 24-hour nationwide strike on May 20, the second major protest against tough austerity measures pledged in exchange for billions of euros in aid.

Spain will cut state employees' wages and slash investment spending, sparking immediate union anger with a bid to reassure markets that it can get its budget deficit under control and detain the spread of the European debt ...

Euro zone leaders decided on Friday they have special measures ready before financial markets open on Monday to prevent financial turmoil in Greece spreading to other countries such as Spain and Portugal.

U.S. stocks gained, as rising commodity prices boosted energy stocks, concerns about European governments' debt loads eased and data showed a brightening outlook for New York area manufacturing.

The Dow Jones industrial average jumped back above 10,000 on hope that the European Union will help Greece manage its growing debt burden.

Asian stocks tumbled Friday as ballooning European debt and a rise in U.S. unemployment claims added to fears the global recovery could slip back into recession....