The European Union has reached an agreement to relieve Greece of half of its sovereign debt, and to boost the Eurozone bailout fund to €1 trillion. The agreement may well be funded, in part, by non-European […]

The European Commission is considering new rules that would give it far more control over the domestic fiscal policy of member states, including the possibility of fines to countries in distress that do not adopt austerity measures to reduce spending. Today, across Europe, there are protests organized by labor unions and citizens groups who allege [...]

The European Union is dealing harshly with nations that are suffering the converging crises of economic downturn, joblessness and swelling budget deficits. Spain is taking aggressive action to reduce public spending, but such “austerity measures” may be deepening, instead of resolving, the economic crisis. The UK’s Telegraph newspaper is reporting…[Read more]