European Union – News Stories About European Union - Page 16

Talks Falter as
Greece Warns:
We Can't Take
Any More Cuts

Feb 15, 2012 4:05 AM CST

Talks Falter as Greece Warns: We Can't Take Any More Cuts

Bailout discussion foundering despite austerity deal

(Newser) - Greece has made "superhuman" efforts to comply with EU and IMF conditions, but it just can't make any more cuts, the country's public order minister says. An austerity package was passed over the weekend, sparking violent protests across the country , but bailout talks with EU finance chiefs...

Moody's Cuts Rating of
6 European Nations

Feb 14, 2012 1:28 AM CST

Moody's Cuts Rating of 6 European Nations

Britain, France warned that triple-A is in danger

(Newser) - Moody's has followed fellow ratings agency Standard & Poor's lead with a mass downgrading of European credit ratings. Spain, Italy, Portugal, Malta, Slovakia, and Slovenia—all of whose ratings were cut by S&P last month —were downgraded a notch. The agency also revised its outlook on...

Satellites, Drones Spy
on Europe's Farms

Feb 8, 2012 2:45 AM CST

Satellites, Drones Spy on Europe's Farms

EU using eyes in the sky to spot subsidy fraud

(Newser) - Satellites and spy drones are scanning farmland in the European Union, and their findings can lead to something nearly as damaging as an air strike: a subsidy cut. The EU spends billions every year in farm subsidies, and eyes in the sky are increasingly being used as a tool to...

Greece Axing
15K Public Jobs

Feb 7, 2012 3:36 AM CST

Greece Axing 15K Public Jobs

Country caves to creditors' demands

(Newser) - As politicians in the US debate the merits of smaller government, Greece's creditors are forcing it to shrink its public sector. Greece has agreed to cut 15,000 government jobs by the end of this year, and 150,000—a fifth of the total—by the end of 2015....

China Refusing to Pay
EU Airspace Carbon Tax

Feb 6, 2012 4:19 AM CST

China Refusing to Pay EU Airspace Carbon Tax

Will Europe stop flights?

(Newser) - China is prohibiting all of its airlines from paying the EU's new carbon tax, a standoff that is likely destined for a World Trade Organization unfair trade practice suit, reports the BBC . The long-planned European Union's Emissions Trading Scheme came into effect the first of the year, and...

Czechs, Brits Say No to EU Budget Compact

Czechs, Brits
Reject Deal
to Save EU
Economy

Jan 30, 2012 4:34 PM CST

Czechs, Brits Reject Deal to Save EU Economy

Critics attack European Union's fiscal belt-tightening deal

(Newser) - The Czechs thought about it, and they said no. All other 27 EU member states except Britain agreed today to join a compact to impose budget discipline on fellow nations, the BBC reports. British Prime Minister David Cameron had already refused to take part, saying that ceding control of his...

Iran: Hey, Wanna See Oil
Hit $150 a Barrel?

Jan 29, 2012 9:49 AM CST

Iran: Hey, Wanna See Oil Hit $150 a Barrel?

Tehran says EU's embargo will spike global prices

(Newser) - Iran is getting ready to vote today on banning oil sales to the EU —you know, before the EU can enact an embargo on aforementioned oil —and Tehran is engaging in some typical sabre-rattling, with the head of Iran's state oil company predicting global crude prices will...

Portugal May
Need a 2nd
Bailout

Jan 25, 2012 7:10 AM CST

Portugal May Need a 2nd Bailout

Country's troubles likened to Greek crisis

(Newser) - In order to pay back $11.6 billion in debt, Portugal needs to re-enter capital markets next year—and as it stands, that's looking like a tall order. The deadline isn't until September 2013, but the International Monetary Fund could call on the country to release a financial...

EU Rolls Out
Embargo
on Iran Oil

Jan 23, 2012 7:49 AM CST

EU Rolls Out Embargo on Iran Oil

May also freeze central bank's assets

(Newser) - The European Union today rolled out its embargo of Iranian oil, adopting the measure as what Britain's foreign secretary called "an unprecedented set of sanctions" designed to crack down on the country's nascent nuclear program. Existing contracts for crude oil and petroleum will be honored until July,...

Greece Hires Out
Ancient Ruins to Raise Cash

Jan 20, 2012 4:43 PM CST

Greece Hires Out Ancient Ruins to Raise Cash

The Acropolis, the temple of Delphi, and Parthenon going for $2,070 a day

(Newser) - Debt-stricken Greece is taking an unprecedented step and exploiting its own magnificent history to raise cash and help its crippled economy. The Guardian reports that Greece is offering up its architectural masterpieces, including the Acropolis, the temple of Delphi, and the Parthenon, as backdrops for movies, commercials, and photo shoots—...

EU Sues 'Authoritarian' Hungary

Jan 18, 2012 4:17 AM CST

EU Sues 'Authoritarian' Hungary

Legal action challenges 'Viktator's' effort to consolidate power

(Newser) - The European Union has given Hungary a legal slap in the face over what it sees as moves toward authoritarianism. The EU's executive body has launched legal action over the country's new laws governing its central bank, judiciary and data protection authority, reports the Wall Street Journal . Hungarian...

Iran to Kill Internet Within Weeks

Jan 6, 2012 6:37 AM CST

Iran to Kill Internet Within Weeks

Will launch a 'halal' domestic intranet in its place

(Newser) - As fresh sanctions and economic turmoil loom, Iran has launched its harshest crackdown on the Internet yet, the Wall Street Journal finds. Internet cafes have been told they have 15 days to install security cameras and begin collecting information on users. Many sites have been blocked and Iranians may soon...

EU Readies Iran Oil Ban

Jan 5, 2012 7:14 AM CST

EU Readies Iran Oil Ban

France calls for deal by end of month

(Newser) - Europe is continuing to get serious about Iran's nuclear ambitions, with EU member states agreeing in principle to ban the import of Iranian crude oil, reports the BBC . And while nuances must be hammered out—including whether and how long to exempt existing oil contracts with Iran, as well...

German Unemployment
at Record Low

Jan 4, 2012 12:56 AM CST

German Unemployment at Record Low

Nation hiring as rest of eurozone firing

(Newser) - While much of the rest of the eurozone struggles with soaring unemployment, Germany's unemployment rate has fallen to its lowest level since it reunified more than 20 years ago. The rate fell to 6.8% in December, helped by strong exports to China and unseasonably warm weather, which allowed...

Euro Breakdown Starts Now

think tank says

Jan 2, 2012 4:50 PM CST

Euro Breakdown Starts Now

CEBR gives Eurozone 99% failure rate over 10 years

(Newser) - Welcome to the year that the Eurozone begins its breakup and slides into certain doom—or so says one economic think tank in Europe. There is a 60% chance that "at least one country (and probably more) will leave" the euro in 2012, the head of the Centre for...

EU to Halt Export of
Lethal Injection Drug

Dec 13, 2011 5:59 AM CST

EU to Halt Export of Lethal Injection Drug

US struggling to find thiopental supplier

(Newser) - By week's end, it will become even more difficult for the US to get its hands on a key drug used in lethal injections. Early this year, an Illinois firm stopped making thiopental. Now, the European Union is poised to ban the export of the drug without a permit,...

Moody's Scoffs at Europe Deal, Threatens Downgrades

Dec 12, 2011 7:57 AM CST

Moody's Scoffs at Europe Deal, Threatens Downgrades

Warning stems from concerns over widening growth gap

(Newser) - Despite the deal reached by European leaders to strengthen the euro zone, Moody's warned today that the crisis is still at a "critical and volatile stage" and that some European Union countries could still find their sovereign ratings downgraded. It expressed specific concern about the expanding growth gap...

Cameron's Veto May Isolate Britain From Europe

analysis

Dec 9, 2011 12:21 PM CST

Cameron's Veto May Isolate Britain From Europe

His EU veto could have major ramifications

(Newser) - David Cameron's decision to exercise Britain's veto and sit out negotiations on a new EU treaty is being seen as a momentous move, even if the ramifications aren't quite clear yet:

New York Times : The decision "has left Britain as isolated as it has ever been

...

Europe Leaders Begin
Critical Euro Summit

Dec 8, 2011 5:58 PM CST

Europe Leaders Begin Critical Euro Summit

Tomorrow could be volatile day for world markets

(Newser) - European leaders began wrestling this evening over how much of their sovereignty they are willing to give up in a desperate attempt to save the euro. At stake in the two-day summit in Brussels is not only the future of the currency, but also the stability of the global financial...

As Summit Looms,
ECB Slashes Rate Again

Dec 8, 2011 7:47 AM CST

As Summit Looms, ECB Slashes Rate Again

Meanwhile, Merkel and Sarkozy try to drum up support for plan

(Newser) - The European Central Bank slashed rates for the second time in as many months today, ahead of a crucial EU summit that could determine the fate of the euro. Analysts had expected the cut, which brings the key rate from 1.25% down to 1%, but sources tell Bloomberg that...