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Spain Protests

World's Reaction to Spanish Crisis: Screw Them!

The financial and fiscal crisis in Spain entered a new and dangerous phase Tuesday as economic, political, civic and diplomatic links appeared to quickly disintegrate in the face of panic-stricken markets.
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Greece Can't Pay Its Debts: 'Troika'

Greece is not likely to be able to pay its debts, meaning the twice bailed-out member of the euro zone will have to restructure about $240 billion of sovereign debt, European Union officials told Reuters on Tuesday.
Samaras-Clinton

Greece In 'Great Depression': Prime Minister To Bill Clinton

Greece's Prime Minister Antonis Samaras likened his country's deep economic slump in the wake of the European debt crisis to the Great Depression of the 1930s in the U.S. while meeting with former U.S. President Bill Clinton in Athens.
South African miners

Platinum In A Rut, Just Like Europe's Diesel Market

The price of platinum, the precious metal used to make anti-pollution equipment for vehicles, is in a slump due to the global economic downturn, but it's especially bad in Europe where platinum demand is greatest. Nevertheless, analysts are bullish, believing the price will rise in the latter half of the year and into the next.
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EU Chides Romania Over President's Impeachment Attempt

The European Union has called into question Romania's respect for democratic institutions, following the center-left government's attempt to impeach conservative President Traian Basescu.
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Ireland To Spend $2.76B To Cut Joblessness, Boost Services

The Irish government will spend more than ?2.25 billion ($2.76 billion) on new infrastructure projects and to restart existing road, school and health care construction projects to create as many as 13,000 jobs without hiking debt, government officials said on Tuesday.
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Europe Exported More In May, Imports Steady: Eurostat

Euro zone nations, collectively, posted an $8.42 billion trade surplus in May, well ahead of a $1.46 billion deficit in the year-earlier period, as exports rose and imports remained relatively steady, the European Union's statistical office said Monday.
Iran

Iranian Lawmakers Approve Bill Calling For Nuclear-Powered Ships

A bill requiring the Iranian government to design and build nuclear-powered commercial ships was approved by a parliamentary committee Sunday. The measure stipulates the government must provide nuclear fuel for the ships, which would require the Islamic Republic to continue its uranium-enrichment activities.
European Central Bank President Mario Draghi called for a euro zone "growth pact" the day before new indicators of poor economic sentiment were released by the European Commission.

Spanish Banks Could Get First Funds In $120 Billion Bailout This Month

One of the euro zone's two bailout funds could begin disbursing monies to Spain at the end of this month in a €100 billion ($120 billion) rescue of the country's embattled banks, according to an article by the Associated Press based on a story in the German newsweekly Der Spiegel on Saturday.
German Chancellor Angela Merkel

50-50 Chance Of Euro Zone Split: Analyst

The euro zone will not disintegrate. Instead, there is a fifty-fifty chance of a split between the financially sound countries and economically weaker ones, the Economic Outlook Group said on Friday.
Greece and Europe

Greece And Europe Face A Summer Filled With Unpleasant Choices

This summer, both Greece and Europe are between a rock and a hard place. Greece faces the possible prospect of domestic coalition collapse, or ouster from the euro zone; Europe’s leaders, an elongated repayment for their loans to Greece, or a Greece default.

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