More than 100,000 people packed Lisbon's vast Palace Square on Saturday in the largest rally against austerity and economic hardships since Portugal resorted to a European Union/International Monetary Fund bailout last May -- and organizers vowed to step up protests and labor action.
Euro zone central banks began to fill in some of the blanks surrounding their new, more accommodative lending rules on Friday, revealing banks will get between 90 and 11 percent of the face value of the freshly-eligible loans they can now use as collateral.
Portugal's economy will shrink as much as Greece's this year, according to IMF projections. The two will have identical current account deficits and the red ink in Portugal's budget will be almost as deep as in Greece's.
Greece's debt crisis on Thursday dominated the first day of Italian Prime Minister Mario Monti's visit to the United States, as he urged the International Monetary Fund to be more lenient with Athens in bailout talks to prevent a big potential explosion.
Greece's debt crisis on Thursday dominated the first day of Italian Prime Minister Mario Monti's visit to the United States, as he urged the International Monetary Fund to be more lenient with Athens in bailout talks to prevent a big potential explosion.
Hours after Greece's ruling coalition announced it had concluded an 11th-hour agreement on new austerity measures in an effort to satisfy foreign lenders, it seemed that everyone - from creditors abroad to political allies back home - was turning on the Greek leadership.
In the two days since a California court declared Proposition 8 unconstitutional, the Republican response has been swift and utterly predictable. But the most ridiculous response came from Rick Santorum, who claimed that opponents of same-sex marriage were the real victims of intolerance.
Debt-ridden Portugal's international lenders will next week begin assessing the country's compliance with the terms of its 78-billion euro bailout, against a backdrop of concerns it may eventually have to sign up for a second rescue package.
Following days of exhausting political drama, high-level brinkmanship and stern rhetoric in both public and private statements, the red-eyed leaders of Europe's leading financial institutions reached a deal Thursday with Greece's governing coalition to impose further austerity measures on that country in exchange for a €130 billion bailout ($172.56 billion).
The Berlin film festival, which last year set Iranian drama A Separation on the path to global fame, has selected an edgier line-up than normal in 2012 with several up-and-coming directors in the main competition.
Istanbul was ranked as the European city with the best prospects for 2012 by PricewaterhouseCooper and the Urban Land Institute, with German cities also on top.
Some countries, including the U.S., could be trying to bring their budget deficit down too quickly, posing a risk for the economic recovery, the head of the International Monetary Fund's fiscal affairs department warned Wednesday.
U.S. stock index futures edged higher on Wednesday as leaders in Greece again attempted to reach a deal on reforms in exchange for a new bailout.
Stock index futures edged higher on Wednesday as leaders in Greece again attempted to reach a deal on reforms in exchange for a new bailout.
The ongoing Eurozone debt crisis and the efforts to find a way out and save the single currency could potentially shake up and redefine the global economic equilibrium.
On the heels of Super Bowl 2012 halftime show, which was viewed by a record setting 114 million people, Madonna has announced plans and details of an upcoming 2012 world tour.
The domestic economic evidence in the U.S. has remained upbeat in early 2012, with a much better than expected employment report for January being the latest piece of good news according to the report by IHS Global Insight.
German Chancellor Angela Merkel told Greece Monday to make up its mind fast on accepting the painful terms for a new EU/IMF bailout, but the country's political leaders responded by delaying their decision for yet another day.
The current gold rally is expected to continue due to a combination of monetary and fiscal influences, HSBC analyst James Steel reported to investors Sunday.
Greece let yet another deadline slip on Monday for responding to painful terms for a new EU/IMF bailout, as German Chancellor Angela Merkel made clear Europe's patience is wearing thin over drawn-out negotiations among its feuding political leaders.
Treasure hunter Greg Brooks claimed he has located the wreck of a World War II British merchant ship that was carrying a load of platinum now worth $3 billion. The ship was torpedoed by a German U-boat off Cape Cod during World War II and should Brooks' location of the ship proves accurate, he will find one of the richest sunken treasures ever discovered.
China is considering increasing its participation in the rescue funds aimed at resolving the European debt crisis, Chinese Premier Wen Jiabao told journalists on Thursday.
