Europe

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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...

Forget Europe: US May OK Horse Meat Plant

It hasn't been processed here in 6 years

(Newser) - What timing: With Europe trying to rein in a horse meat scandal , the US may give the green light to a horse slaughtering plant in New Mexico. The facility, which would produce horse meat that's safe to eat, could get Agriculture Department approval within the next two months, the...

Ikea's Meatball Mess Spreads to 24 Countries

Meanwhile, frozen burger sales take huge dive in UK

(Newser) - Ikea's horse-meatball mess continues to grow. The retailer has now stopped offering meatballs in 24 European countries, der Spiegel reports. The company explained in a statement that, "The sales stop concerns meatballs manufactured by one supplier in Sweden and applies to all European countries except for Norway, Russia,...

Horse Meat Scandal Hits Nestle
 Horse Meat Scandal Hits Nestle 
Feb 19, 2013 5:27 AM CST

Horse Meat Scandal Hits Nestle

'Beef' meals yanked in Italy, Spain

(Newser) - The horse meat scandal galloping across Europe hasn't spared the world's biggest food company. Nestle, which previously insisted that its beef products had not been affected, has withdrawn beef pasta meals sold in Italy and Spain after DNA tests revealed that they contained more than 1% horse meat,...

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,...

Gunman Kills 3 in Swiss Village

2 injured, suspect arrested: police

(Newser) - A man armed with an old military rifle and a handgun shot and killed three women and wounded two men last night in a southern Swiss village, police said. Police shot and wounded the suspect after he threatened to also shoot officers who arrived at the scene in the village...

Champagne Sales Point to Gloomy 2012

Europe isn't snapping up the bubbly like it used to

(Newser) - Whether it's a stand-in for Europe's spirits or its wallets, the message is the same: It's been a rather gloomy 2012, at least according to Champagne sales, with shipments of the bubbly down 5% in the first three quarters. And though a holiday bump will occur per...

UN Group Seeks Ban on 'Baby Boxes'

But advocates say they save lives

(Newser) - Mothers across Europe can abandon newborn babies in a so-called "baby box"—incubators located discreetly outside some hospitals. But one UN committee is lobbying to overturn the practice, saying the boxes ultimately hurt children and avoid dealing with the deeper causes of child abandonment, the AP reports. "...

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...

Austerity Ekes Out Victory in Greece

Eurozone decision follows huge protests

(Newser) - In a 153 to 128 vote, Greek's three-party coalition government barely passed some $22 billion worth of new austerity measures in an effort to remain in the eurozone. Eighteen MPs voted "present" on the plan, with another abstaining. The vote on the measures, which include pension cuts and...

Venice Sees Major Flooding
 Venice Sees Major Flooding 
Nov 1, 2012 3:42 PM CDT

Venice Sees Major Flooding

Some 55 inches of water soak the city

(Newser) - High tides have flooded Venice, leading Venetians and tourists to don high boots and use wooden walkways to cross St. Mark's Square and other areas under water. Flooding is common this time of year, and today's peak level of 55 inches was below the 63 inches recorded four...

World Not Ready for a Romney Presidency

Western Europe overwhelmingly favors Obama

(Newser) - While the US sees a presidential race that could go either way , much of the rest of the world is expecting—and in many cases, actively hoping for—a continued Obama presidency. Some 75% of Europeans prefer the incumbent to Mitt Romney, while just 8% favor the former governor, a...

IMF to Italy, Spain: Get Help from Eurozone

But Rome says no ahead of EU summit

(Newser) - With a two-day EU summit beginning in Brussels tomorrow, the International Monetary Fund is calling on Italy and Spain to apply for eurozone assistance, hoping to cut losses in Europe's debt crisis. The eurozone is on the verge of establishing an environment that would ensure both countries can continue...

Nobel Peace Prize Goes to ... European Union

It's another surprise pick

(Newser) - As it struggles with internal divisions and an ongoing debt crisis, the European Union has been given a surprise morale boost by the Nobel Committee—plus a $1.2 million prize a few of its members could certainly use. The committee awarded the 2012 peace prize to the 27-member bloc,...

S&amp;P Downgrades Spanish Debt
 S&P Downgrades 
 Spanish Debt 
Oct 11, 2012 8:15 AM CDT

S&P Downgrades Spanish Debt

Nears junk status amid bailout debate

(Newser) - The Spanish government's dilemma over whether to request a European bailout has become more acute following a downgrade of the cash-strapped country's credit rating. Standard & Poor's late yesterday cut its rating on Spain's debt by two notches to BBB-, just a step above junk status,...

Russia: Al-Qaeda Behind Europe's Forest Fires

And they may soon try it in the US, too

(Newser) - The forest fires that have been raging through the EU lately aren't random catastrophes—they're terrorist attacks. That's what Russian security service chief Alexander Bortnikov told a meeting of security and law enforcement chiefs earlier this week, RIA Novosti reports. The fires, he said, are "one...

Eurozone Unemployment Hits Record 11.4%

June, July, and August all at depressing level

(Newser) - Europe had a very cruel summer: Unemployment in the eurozone a record high of 11.4% in June, July, and August, the European Union's statistics office announced today. "An end to the horror is not in sight," says one economist. "Unemployment rates are still increasing and...

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