Europe, Global Economy | featured news

Spanish Borrowing Costs Surge, Reviving Worries About Euro Zone

Ten-year bond yields rose above 7 percent and shorter-term issues also sold at higher cost, raising fears that recent European accords were not enough to stem the debt crisis.


US trade gap shrinks as exports rise

U.S. Gap

The U.S. trade deficit shrank in May, as exports to places like China and Europe rose, defying concerns about a global economic slowdown. The Commerce Department said Wednesday that the trade deficit fell 3.8 percent to $48.7 billion in May, down from $50.6 billion in April.


As Europe struggles, young job-seekers suffer most

Irene Fernandez lost her job with Spain's postal service five months ago, a victim of government spending cuts. Since then, she's been getting by on spending money from her mother and the $530 a month she earns grooming dogs for neighbors.


Political Tensions Surface Over Euro Crisis

The president of the European Commission sharply criticized Britain for blaming its economic problems on the euro zone, and warned against efforts to divide European nations.


Eurozone unemployment hits new record in May

Eurozone Unemployment

Unemployment in the 17-country euro currency bloc hit another record in May as the crippling financial crisis pushed the continent toward the brink of recession, official figures showed Monday.


Scots economy 'improves slightly'

Scotland's economy has improved slightly but is showing signs of stagnating, according to a survey carried out by a bank.


Cyprus bailout may equal half its economy

Cyprus Bailout

Cyprus, the fifth euro zone country to seek emergency funding from Europe, may need a bailout of up to 10 billion euros — over half the size of its economy — officials said.


Spain may need 62 billion euro to rescue banks

Spain Bailout

Spain's banks would need 51-62 billion euros ($64-78 billion) in extra capital to weather a serious downturn in the economy, less than a 100-billion-euro aid package offered by the euro zone, independent audits showed on Thursday.


In former East Germany, anxious residents resent paying for Europe’s problems

Germany may be Europe’s most powerful economy. But its prosperity is so uneven that Poles just across the border see it differently: as a place where housing is a bargain... The uneasiness here helps to explain the unwillingness voiced by German Chancellor Angela Merkel about proposals that would require her country to dip further into its treasury to help address the rest of Europe’s economic problems.


Obama: Europe woes could affect U.S. election

President Obama's political fate could be decided in the debt-ridden nations of Europe. While praising European efforts to address its potential economic crisis after this week's G-20 summit, Obama also said that problems overseas could damage the economy in the U.S. -- and threaten his re-election.


Subscribe to this RSS topic: Syndicate content