Europe

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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...

Imposter Pilot Nabbed After Europe Flight

Man had fake uniform, fake friends, fake Facebook page

(Newser) - It's Catch Me If You Can all over again: Italian cops have arrested a man who's been posing as a pilot for months or longer. The unnamed man sure seemed like a pilot—down to fake flight crew buddies in his Facebook photos—and he managed to ride...

Strapped Europe's New Idea: Tax the Vatican

Church's long-held government breaks might be in danger

(Newser) - As Europe continues to seek a way out of its financial straits, some countries are eyeing the wealth of the Catholic Church. Italy's prime minister wants a tax on church properties. British city councils have cut funds for transportation to religious schools, while Ireland considers similar moves. And a...

Soros to Germany: Put Up or Get Out of Eurozone

Billionaire investor says euro poor could be stronger without Germany

(Newser) - If Germany isn't going to take the lead—meaning take on weaker countries' debts and relax austerity demands—George Soros thinks it should just get out of the eurozone altogether, reports Reuters . Without Germany, Soros says the rest of Europe could service their debts more cheaply and be more...

Europe Flirts With Breivik's Anti-Immigrant Message

Right-wing politicians like the philosophy, deplore the violence

(Newser) - The European right has widely rebuked Anders Behring Breivik for his violence, but also thinks the Norwegian killer had something of a point, reports Reuters . Many European conservatives—like Italian politician Mario Borghezio—were already echoing the language of extremists like Breivik to criticize the growing Muslim presence there. "...

'Economic Suicides' Soaring in Europe

Tragic suicide notes grip public

(Newser) - Tough times are taking a heavy toll on the mental health of Europeans. The last few years have seen thousands of what media outlets have labeled "economic suicides" among unemployed or fearful workers in Greece, Italy, Ireland, and elsewhere, finds the Washington Post . Researchers have found that other signs...

Signs Found of Mysterious Neanderthal 'Sister Species'

Evidence lives on in the DNA of modern-day Africans: scientists

(Newser) - Newly discovered bits of "foreign DNA" in modern Africans indicate that a mysterious "sister species" may have walked the earth with Neanderthals and humans, according to scientists. The DNA doesn't resemble DNA from any modern-day humans, nor from Neanderthals, whose DNA sometimes shows up in modern-day Europeans....

Euro Crisis Rocking Global Corporations

Weak economy plus austerity equals 'vicious circle,' says economist

(Newser) - As the EU economic crisis spirals ever downward , corporations are in fact looking increasingly like people, blaming the continent's troubles for their plummeting earnings, reports the Wall Street Journal . And with increasing austerity programs kicking in across Europe in 2013, analysts think money is just getting tighter. "We...

More US Firms Not Hiring— Thanks to Europe?

Just 23% of firms plan hiring in next 6 months, down from 39% in April

(Newser) - US firms are getting nervous about the transatlantic effects of Europe's debt crisis—and fewer of them foresee hiring anytime soon. In early April, 39% of US companies polled planned to hire sometime within the next six months; by June that figure was down to 23%, the National Association...

Manufacturing Orders Slump in Asia, Plunge in Europe

Leading indicator reveals Western economies may be worse than thought

(Newser) - Purchasing Managers' Index reports from Asia and Europe—a critical economic indicator—showed big drops in June, in a strong sign that the economies of Europe and the US could be weaker than thought, the Guardian . Despite European leaders agreeing on a bank bailout scheme last week, Europe's PMI...

Desperate Europeans Try to Sell Kidneys, Lungs

Lungs being offered for as much as $250K

(Newser) - As Europeans grapple with economic misery, illegal organ sales are on the rise, with desperate sellers willing to part with kidneys, corneas, bone marrow, and even lungs. "When you need to put food on the table, selling a kidney doesn’t seem like much of a sacrifice," says...

Europe Stocks Slump Ahead of EU Summit

Plenty of gloom and doom continuing for euro and eurozone

(Newser) - European stocks and the euro all fell this morning, as investors remain skeptical that this week's EU summit is going to accomplish much of anything, reports the Wall Street Journal . The euro fell to $1.2490 from $1.2574 last Friday, while indexes were down across the continent, with...

Europe Court: Sick Workers Can Retake Vacations

It shouldn't count as sick leave, says panel

(Newser) - Unemployment may be on the rise in Spain and throughout Europe, but those lucky enough to have jobs can enjoy this ruling: Workers who get sick on vacation are entitled to take a new vacation, reports the New York Times . The EU court ruled in favor of Spanish department store...

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