European Union

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Horse Meat Found in 5% of Beef in Europe

EU commission promises stricter standards

(Newser) - Bite into beef anywhere in Europe, and there's a 5% chance you're actually biting into horse meat. An EU study across 27 nations in the wake of the region's horse meat scandal found that 5% of beef products had some horse DNA, reports the BBC . France and...

Cyprus Deal Wallops Rich Russians

World markets rise after last-minute deal

(Newser) - The last-minute rescue deal to prevent a complete collapse of the Cypriot economy has saved the eurozone from its first exit and boosted world markets—but at a heavy cost to those who stashed their cash in the country's banks. The deal, which shuts down the country's second-biggest...

Cyprus Strikes Deal, Avoids Bankruptcy

Those holding largest deposits will take a hit

(Newser) - Crisis averted, for now. Cyprus has secured a package of rescue loans in tense, last-ditch negotiations , two EU diplomats said, saving the country from a banking system collapse and bankruptcy. The cash-strapped island nation needs a $13 billion bailout to recapitalize its ailing lenders and keep the government afloat. The...

Cyprus Preps Bailout &#39;Plan B&#39;

 Cyprus Given Monday Deadline 
UPDATED
Mar 21, 2013 7:45 AM CDT

Cyprus Given Monday Deadline

European Central Bank says its emergency funding will expire then

(Newser) - As Cyprus works on a "plan B" today to fund a bailout , the European Central Bank says its emergency assistance will expire Monday, so there had better be a deal in place, the Wall Street Journal notes. That could be possible: The head of the country's central bank...

Panicked Cyprus Stalls, Braces for Bank Run

Country considers levy of up to 15%

(Newser) - Things are getting crazy in Cyprus, which has again postponed a vote that could levy a tax on bank depositors to fund the nation's bailout, the BBC reports, this time until tomorrow. Its effects, however, are already rippling through Europe, where stock markets and the euro have plummeted, and...

Behind Microsoft's $732M Fine: Snitch Named Google

EU competition watchdog levies heavy penalty to 'punish and deter'

(Newser) - Microsoft got thumped with a $732 million fine issued by the EU antitrust enforcer yesterday for violating the terms of a 2009 deal—thanks to Google and Opera, reports the Financial Times . Microsoft had then promised to offer consumers a choice of Internet browser instead of making Explorer Windows' automatic...

EU Considering 'Repressive Action' Against Google

France says the company hasn't responded adequately to privacy concerns

(Newser) - Google may be about to face a serious privacy challenge on the other side of the pond. France's privacy watchdog said yesterday that it and several other EU regulators want to coordinate a "repressive action" against Google, the Wall Street Journal reports. The regulators allege that Google has...

Horsemeat Scandal Gets Worse
 Horsemeat Scandal Gets Worse 
Feb 14, 2013 7:35 AM CST

Horsemeat Scandal Gets Worse

Meat tainted by vet drug 'bute' could be in French food supply

(Newser) - Europe's horsemeat scandal continues to worsen in both size and scope. For one, the meat of three horses tainted with "bute"—the veterinary drug phenylbutazone—possibly entered the human food chain in France, reports the AP . The British government said today that eight horse carcasses processed in...

US, EU Start Shopping for Massive Free Trade Deal

Hope to start talks by June, but big issues could loom

(Newser) - The United States has 20 free trade pacts ranging from big neighbors to tiny allies, but today Washington set its sights on a far grander prize: the entire European Union, reports Reuters . The two powers announced that they hoped to start talks on a free trade deal by the end...

Nokia's $1.35B Job: Pioneer World's Strongest Material

Get ready for 'graphene revolution'

(Newser) - Computing's next big thing could be on its way. Nokia has received a $1.35 billion grant from the EU to develop graphene , the strongest material the world has ever seen. At one atom thick, it's 300 times stronger than steel, Tom's Hardware notes. Nokia says it...

Cameron: Brits Will Vote on EU Exit

But he'll have to win reelection in 2015 first

(Newser) - British PM David Cameron made an impassioned case today for his country to stick with the European Union, but said it's time for Britons "to have their say" on the matter, reports the New York Times . He promised an "in-or-out" referendum as early as 2017—provided, of...

Eurozone Industrial Output Down for 3rd Month

Points to continuing recession in 4th quarter

(Newser) - Industrial output across the 17 European Union countries that use the euro fell in November for the third straight month, official figures showed today, in a further sign that the region likely remained mired in recession for the fourth quarter of 2012. The 0.3% monthly decline reported by Eurostat,...

EU Unemployment Hits All-Time High

Greece, Spain hit especially hard

(Newser) - Eurozone unemployment hit 11.8% in November, leaving a record 18.8 million out of work, according to data released today by the EU's official statistics agency. The figure, the highest recorded since the currency union formed in 1999, is only a touch higher than October, but a full...

Pope: It's Time to Fix the Wealth Gap

Also calls for end to Syria violence in New Year's address

(Newser) - Pope Benedict XVI used his New Year's speech today to urge world leaders to address the growing wealth gap between rich and poor, the AP reports. And he got quite technical in his calling for that. As reported by Bloomberg :
  • "If the differential index between financial rates represents
...

EU Accepts Peace Prize Amid Protest

Former winners, local demonstrators slam award

(Newser) - The European Union officially received the Nobel Peace Prize today in an Oslo ceremony attended by some 20 EU leaders, including Angela Merkel, Francois Hollande, and UK deputy PM Nick Clegg. The prize committee applauded the EU's efforts toward peace in Europe after World War II, and called leaders...

Greece to Buy Back Bonds at Big Discounts

Country hopes plan will cut $26B from debt

(Newser) - Greece will spend up to $13 billion in a heavily-discounted bond buyback program that it hopes will help stabilize its debts, officials said today. Private holders of Greek bonds, such as banks and pension funds, have until Friday to register their interest in participating in the buyback program. It will...

Protesting EU Farmers Spray Cops With ... Milk?

They're protesting low milk prices

(Newser) - Thousands of enraged dairy farmers converged on the European Parliament in Brussels yesterday, and sprayed the building, and the cops who showed up to contain them, with their stock in trade: milk. The protesters arrived on tractors, blocked traffic along many of the city's main streets, then pulled out...

EU: New Greek Deal Will Work
 EU: New Greek Deal Will Work 
Nov 27, 2012 3:39 AM CST

EU: New Greek Deal Will Work

Markets rise after fresh deal to keep country afloat

(Newser) - European Union finance ministers and the IMF have hammered out yet another deal on Greek debt and they say this one is going to work. The euro and Asian markets rose after the announcement of the latest deal on the three-year-old crisis, which will cut the rates on bailout loans,...

EU Budget Talks Collapse Without Deal

But officials cite 'constructive' discussions

(Newser) - A European Union summit charged with agreeing on a long-term budget for the 27-nation bloc has broken up without a deal. European Council President Herman Van Rompuy, who presides over the summits, said that the national leaders had told him and European Commission President Jose Manuel Barroso to continue working...

Eurozone Falls Back Into Recession

GDP falls for the second quarter in a row

(Newser) - The eurozone officially has a double-dip recession on its hands. The 17-nation euro bloc fell into that second dip in the third quarter, with GDP falling 0.1%, the European Union's statistics office announced today. Since that marks its second straight quarter of decline—it was down 0.2%...

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