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Violence amid austerity protests in Europe

Europe Protest

Pockets of violence broke out as public demonstrations and strikes over rising unemployment and austerity measures took place in many parts of Europe Wednesday. Spanish and Portuguese workers staged a coordinated general strike across the Iberian Peninsula, shutting transport, grounding flights and closing schools to protest against spending cuts and tax hikes.

 

Greeks vote for more economic pain

Greece

Over the course of five days, the Greek government -- led by the understated conservative Prime Minister Antonis Samaras -- overcame two high hurdles in a dash to qualify for the austerity program set out by the so-called troika, made up of the European Central Bank, the International Monetary Fund and the European Commission.

 

Merkel lauds crisis-hit Portugal

German Chancellor Angela Merkel praises Portugal's resolve in tackling its debt crisis, but faces angry anti-austerity protesters in Lisbon.

 

After 3 bumpy years, Europe turns corner on crisis

Merkel

The worst of Europe's financial crisis appears to be over. European leaders have taken steps to ease the panic that has plagued the region for three turbulent years. Financial markets are no longer in a state of emergency over Europe's high government debts and weak banks. And this gives politicians from the 17 countries that use the euro breathing room to fix their remaining problems.

 

No final decision on Greece next week, slower austerity assumed

Euro Zone

Euro zone finance ministers are unlikely to release a new tranche of loans to Greece on Monday as there is no agreement yet on how to make its debt sustainable but Athens is set to get two more years to cut debt, officials said.

 

Big fat Greek strike: MPs and govt say no escaping austerity

Anti-Austerity Protest in Greece

Debt-ridden Greece enters yet another week of anti-austerity protests. The country risks coming to a standstill as the parliament votes on a fresh austerity package of cost cuts and tax hikes for a new cash injection from its international creditors. A 24-hour strike starting Monday is expected to unite hospital doctors, journalists, Metro, taxi and train drivers and other transport workers, reports RT's Peter Oliver from Athens.

 

Hit by crisis, Greek society in free-fall

A sign taped to a wall in an Athens hospital appealed for civility from patients. "The doctors on duty have been unpaid since May," it read, "Please respect their work." Patients and their relatives glanced up briefly and moved on, hardened to such messages of gloom. In a country where about 1,000 people lose their jobs each day, legions more are still employed but haven't seen a paycheck in months. What used to be an anomaly has become commonplace, and those who have jobs that pay on time consider themselves the exception to the rule.

 

Euro Watch: Euro Zone Unemployment Hit New High in September

The jobless rate ticked up to 11.6 percent from the 11.5 percent in August, as 146,000 more people were classified as unemployed, data showed on Wednesday.

 

Eurozone debt hits 90 percent of its economy

In spite of years of harsh spending cuts and tax increases, Europe's debt problems are getting worse. Figures from the EU's statistics office Wednesday showed that, at the end of the second quarter, the total government debt of the 17 countries that use the single currency was worth 90 percent of the group's total economic output for the year - the highest level since the euro was launched in 1999.

 

Spain: decision on bailout within weeks

The Spanish government said Wednesday it will decide within the next few weeks whether to ask for outside financial help, noting it might opt for a precautionary line of credit instead of bailout cash.

 

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