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Italy's Mass Protest: Tens Of Thousands Rally Against Cuts, Hikes, Reforms

Tens of thousands of Italian workers rallied in Rome on Saturday to protest pension cuts, tax hikes and labor reforms imposed by the government of Mario Monti and to demand more stable work, particularly for the young. The demonstration organized by Italy's main labor unions came a day after Monti's latest effort to stave off contagion from Europe's debt crisis. His Cabinet on Friday approved measures worth (EURO)80 billion ($100 billion) to spur economic growth, streamline the notoriously bloated public sector and lower the national debt.


Leftists poised for victory in French elections

French voters are choosing a new parliament Sunday that will determine how far Socialist President Francois Hollande can push for economic stimulus in France and around a debt-burdened, stagnant Europe.


European Leaders Present Plan to Quell Euro Zone Crisis


The plan will include measures to prevent bank runs and push for the repeal of regulations that hinder competition, keep young people out of the work force or make it difficult to start businesses.

Senh: Sounds like a good plan for the U.S. too.


World stocks rise amid hopes for central bank help


World stock markets rebounded Friday on anticipation that central banks will act to keep any political instability in Greece following weekend elections from destabilizing the global economy.


Euro-Zone Inflation Falls

Inflation in the euro zone fell to its lowest level in more than a year in May, giving the European Central Bank more leeway to stimulate the flagging 17-nation economy as the intensifying debt crisis takes its toll on confidence.


Last Week's Economy Started Badly, But Ended on a Good Note

A week ago, the economy was looking pretty bad. China and India’s economic growth have slowed. Before Europe even has a chance to fully deal with the Greek crisis, another one sprang up: Spain. In the U.S., unemployment went up slightly in May and job growth slowed. It’s just all bad news for the global economy.


Spain Could Ask For Bank Bailout This Weekend

Spain could ask for a rescue of its struggling banks this weekend when European finance ministers hold an emergency conference call Saturday to discuss the country's financial problems, a move that would make it the fourth member of the 17-nation eurozone to seek outside help since the continent's debt crisis erupted two years ago.


Greek economy keeps on crumbling


Greece's economy shrank further in the first three months of 2012, shriveling at a yearly rate of 6.5 percent against a backdrop of painful wage cuts, tax hikes and record unemployment.


Europe mulls major step towards "fiscal union"

When Jean-Claude Trichet called last June for the creation of a European finance ministry with power over national budgets, the idea seemed fanciful, a distant dream that would take years or even decades to realize, if it ever came to be.


Lots of Bad News Today: Europe, Asia, Jobs ... All Bad

So much for TGIF: all economic reports today were either disappointing or just plain bad.

First, people in Spain are taking their money out of local banks and putting them overseas. It’s similar to what the Greeks did a couple weeks ago - or was it a month? Either way, it’s not good.


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