European Union

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Mighty Germany Leans on Troubled Neighbors

With unemployment at record lows, Berlin needs workers

(Newser) - Greece may be threatening to destroy the euro and the European Union, but mighty Germany still could really use a hand from the beleaguered country, reports the AP . With just a 6.6% unemployment rate—Germany's lowest in 20 years—and an aging population, Germany needs at least 12,...

Berlusconi Quits; Hecklers Shout, 'Buffoon!'

Musicians perform chorus of Handel's 'Alleluia'

(Newser) - Italian Premier Silvio Berlusconi resigned today after parliament's lower chamber passed European-demanded reforms, ending a 17-year political era and setting in motion a transition aimed at bringing the country back from the brink of economic crisis. A chorus of Handel's "Alleluia," performed by a few dozen...

Berlusconi Could Be Out Tomorrow Night

Italian Senate Passes Economic Reform Bill

(Newser) - Italy's Senate approved crucial economic reforms demanded by the European Union today, the first step in paving the way for Silvio Berlusconi to resign as early as this weekend and a transitional government to be formed. The 156-12 vote took place after respected economist Mario Monti—widely expected to...

Greece OKs New Government at 11th Hour

Replacement for Papandreou not yet found

(Newser) - Greek leaders emerged from crisis talks today agreeing to form a new unity government without Prime Minister George Papandreou—but it's not clear they've agreed on much else, the New York Times reports. The new government is expected to put in place a debt deal that European Union...

Greece Leader Faces Revolt on Bailout Mess

George Papandreou struggling to hold his own party together

(Newser) - After Greece’s prime minister shocked the world —and his own finance minister—by announcing a public referendum on the EU bailout, the government has entered crisis mode. As leaders hold emergency talks, six members of George Papandreou’s party have called for his resignation, and one has quit,...

EU: End Waste, Give Unwanted Fish to Poor

Millions of tons of fish thrown away at sea

(Newser) - Europe's fishermen need to stop throwing millions of tons of unwanted fish back into the sea every year, the European Union's fisheries chief has decided. Maria Damanaki has outlined a plan to end the practice of throwing back the edible fish, almost all of which die. The unwanted...

Europe Asks China for Bailout Help

But China wants guarantees first

(Newser) - The head of the eurozone bailout fund met with Chinese leaders yesterday to urge them to invest in its rescue scheme. No agreement has been reached yet—indeed, Klaus Regling said that there weren’t even formal negotiations—but the expectation is that China will toss about $100 billion into...

Sarkozy: Letting Greece Join Euro Was a Mistake

Country wasn't ready to be part of eurozone, he says

(Newser) - Nicolas Sarkzoy has made it clear that tensions remain in the eurozone despite agreement on a debt crisis deal . The French president says that while he backs reforms intended to allow Greece to remain in the euro, it was a mistake to let the country join the single currency a...

Eurozone Deal Boosts World Markets
 Dow Crosses 12K 
 on Eurozone Deal 
MARKETS
Oct 27, 2011 9:02 AM CDT

Dow Crosses 12K on Eurozone Deal

Investors optimistic after Greek debt cut, rescue fund expanded

(Newser) - Will the debt crisis deal reached by European Union leaders help get the world economy back on track? Investors around the globe seem to think so. The Dow jumped 247 points at the open, to 12,116. The S&P 500 and Nasdaq rose 32 and 68 points, respectively, reports...

EU Leaders Forge Emergency Debt Deal

Banks taking 50% haircut on Greek debt

(Newser) - European Union leaders have hammered out a deal they say will help resolve the eurozone's debt crisis. After talking late into the night, a "three-pronged deal" was reached that will see banks taking a 50% loss on Greek debt, AP reports. The eurozone and the International Monetary Fund...

Berlin-Paris Flap Delays Euro Bailout

Agreement impossible until next week, Merkel and Sarkozy say

(Newser) - This weekend's European summit was supposed to produce an agreement that would avert financial doom for the eurozone, but it has failed before it even began. Nicolas Sarkozy and Angela Merkel have issued a joint statement admitting that it will be impossible to reach a deal this weekend and...

New EU Rule: Kids Can't Blow Up Balloons

One sociologist calls it hot air

(Newser) - Blowing up balloons is now a bust for kids in the European Union. The popular activity is too dangerous for children under the age of 8 to do unsupervised because they may swallow and choke on the balloons, according to a new toy safety directive for the entire eurozone. Also...

Germany Rips 'Stupid' US Euro Plan

Who is Obama to talk, grumbles finance chief

(Newser) - Get your own house in order first, miffed German officials are telling the US, blasting America's call to pump up a bailout fund as a not-so-bright idea. "I don't understand how anyone can have such a stupid idea," said German Finance Minister Wolfgang Schauble, referring to...

German Official: Facebook 'Like' Button Unlawful

Legislator says plug-in violates privacy laws

(Newser) - Facebook users in Germany probably won't like this news. A German official has ruled that the site's popular "like" plug-in violates European Union privacy laws, reports the Washington Post . The official says the feature tracks the habits of users, and sites based in his Schleswig-Holstein district will...

Greece Passes 2nd Austerity Bill

Final hurdle before receiving bailout funds now cleared

(Newser) - Greece has bought itself some time to deal with its crippling debt crisis after lawmakers cleared the final hurdle for crucial bailout funds to be released, which will prevent the country from defaulting next month. The EU and IMF had demanded Parliament pass two bills— an austerity law and a...

Russia to End Ban on Dutch, Belgian Veggies

Russia lifts part of 'disproportionate' vegetable ban

(Newser) - Russia is ending a blanket ban on vegetable imports from the European Union put in place over fears of E. coli infection, starting with the Netherlands and Belgium, the nation's top consumer rights watchdog said today. Shipments were allowed to resume today following a 26-day ban intended to prevent...

Youths Hurl Rocks as Greeks Begin 2-Day Strike

20,000 march on Parliament

(Newser) - Greek workers launched a 48-hour general strike today to protest government austerity measures as 20,000 demonstrators headed to Parliament and another 7,000 marched in the country’s second-biggest city. Some 5,000 police guarded Athens, and while the initial protests were peaceful, things are heating up. Young people...

Iceland Begins Talks on Joining EU

It's an unpopular notion within the country

(Newser) - Iceland is beginning formal accession talks with the European Union, following several months of preparation by both sides. Iceland applied for membership following the collapse of its bloated banking industry in 2008, but joining the EU is unpopular with large sections of the public. Iceland's membership in the EU...

Court to France: Save the Hamsters or Pay $24M

France not doing enough, faces fines if it doesn't improve

(Newser) - They may be just 10 inches long, but Alsace’s wild hamsters are Great all the same—and France isn’t doing enough to keep them around, the EU’s top court ruled yesterday. If the country doesn't make a better life for the creatures, it faces $24.6...

Germany on E. Coli Source: It Was the Bean Sprouts

Other veggies off the hook

(Newser) - On Sunday Germany’s E. coli outbreak—which has now killed 29 people—was blamed on bean sprouts ; on Monday it wasn’t . Now, apparently, the sprouts are once again being fingered as the culprit. “People who ate sprouts were nine times more likely to have bloody diarrhea than...

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