A new report finds that southern European households have higher net household income than places like Germany, which is shelling out euro bailout cash. Things must change.
Tag: euro crisis
BLOOMBERG, REUTERS Worldcrunch BRUSSELS – European banks climbed after Cyprus reached an overnight, last-minute deal with its international creditors on a 10 billion-euro ($13 billion) bailout. European and Asian shares rallied on Monday at the news of the rescue bailout, with U.S. yields also rising, thus ending a week of financial panic worldwide. In Brussels, […]
EUROPE 1, LE FIGARO (France) Worldcrunch PARIS – Unemployment has reached a new record high in the eurozone, with European Central Bank (ECB) President Mario Draghi saying Friday that the single currency would not recover until the second half of 2013. “We have not yet emerged from the crisis,” Draghi told France’s Europe 1 radio […]
BERLIN – The euro zone has granted Athens two more years to rein in its debt, Süddeutsche Zeitung has learned. Euro zone leaders have agreed to give Greece until 2016 instead of 2014 to push deficits down under to 3% of GDP. Deadlines for the implementation of employment and energy reforms and the selling of […]
BARCELONA – Making headway through the streets of Barcelona, closed to traffic for the occasion, seemed almost impossible. A crowd of children, students, retired people, business owners, and the unemployed coming from every part of Catalonia had joined together to wave yellow-and-red flags and voice their support for the creation of an independent state for […]