Europe, Global Economy | featured news

Ireland's international bailout relieved investors Monday but outraged many across the country who find that a requirement to raid state pension ...

Debt-crippled Ireland formally applied Sunday for a massive EU-IMF loan to stem the flight of capital from its banks, joining Greece in a step unthinkable only a few years ago when Ireland was a booming Celtic Tiger and the economic envy of Europe.

Britain outlined the sharpest cuts to public spending since World War II on Wednesday.

Ireland's government moved to reassure anxious investors by announcing it will split nationalized lender Anglo Irish Bank in a bid to contain the impact of the bank's bailout on the country's economy.

Shares rose as Chinese officials said Europe would remain one of their most important markets for investment.

Greece reached agreement with the European Union and the International Monetary Fund on rescue loans to keep Athens from defaulting on its debts, a deal that will impose harsh cuts on the county's 11 million people for years.

Hundreds of thousands of people joined May Day rallies across Europe on Saturday, many protesting against government austerity policies in the wake of the global financial crisis.

Financial leaders, with a nervous eye on Greece, pledged on Saturday to address the risks posed to the global recovery from high government debt....

U.S. stocks rose as optimism rose over the upcoming earnings season and confidence in the global economy strengthened after European leaders pledged to extend aid to Greece.

Euro-zone finance ministers unanimously approved a detailed emergency aid mechanism for Greece but stressed that the country had not yet requested a bailout.