Posts Tagged ‘europe news’

‘Greece rescue package destructive’

“Their program has destroyed us, pushing the Greek economy into recession,” Yiannis Panagopoulos, head of the GSEE, an umbrella union with some 700,000 members, said on Friday. He made the remarks in Athens after meeting with the EU-IMF mission. Panagopoulos called the auditors “charlatans,” adding, “If (the auditors) were civil servants and had to be […]

‘Greece rescue package destructive’

“Their program has destroyed us, pushing the Greek economy into recession,” Yiannis Panagopoulos, head of the GSEE, an umbrella union with some 700,000 members, said on Friday. He made the remarks in Athens after meeting with the EU-IMF mission. Panagopoulos called the auditors “charlatans,” adding, “If (the auditors) were civil servants and had to be […]

‘Spain recession worse than estimated’

The IMF also said on Friday that increasing market tension could upset Spain’s ability to finance itself, despite a eurozone bailout agreed for Spanish banks and other financial reforms for the country. “Market tensions could intensify further, threatening market access, particularly if policies fail to stem capital outflows or due to further stress elsewhere in […]

‘Spain recession worse than estimated’

The IMF also said on Friday that increasing market tension could upset Spain’s ability to finance itself, despite a eurozone bailout agreed for Spanish banks and other financial reforms for the country. “Market tensions could intensify further, threatening market access, particularly if policies fail to stem capital outflows or due to further stress elsewhere in […]

Greek PM to meet austerity inspectors

Samaras, who came to power roughly one month ago, meets with the international austerity inspectors under intense pressure to implement Greece’s reform pledges. The European Union, International Monetary Fund [IMF] and the European Central Bank [ECB] started a new scrutiny of the debt-laden country’s austerity program this week to decide whether the country is eligible […]

Russia reopens Soviet-era foreign bases

According to the commander-in-chief of the Russian Navy, Moscow is holding talks with the some countries outside of the Russian territory to host its naval bases. “It is true, we are working on the deployment of Russian naval Bases outside Russian territory,” Vice Admiral Viktor Chirkov was quoted as saying. On Friday, Chirkov told reporters […]

‘Russia to keep nuclear arms ready’

“We are not going to engage in an arms race, but no one should doubt the efficiency and reliability of our nuclear potential and our aerospace defense,” RIA Novosti quoted Putin as saying at a meeting on the country’s defense program on Thursday. “Nuclear weapons remain the main guarantee of Russia’s sovereignty and its territorial […]

Romanians rally to support president

Rivals accuse Basescu, 60, of violating the country’s constitution by interfering in parliamentary affairs and using security services against his political opponents. The vote is set for Sunday. However, the leader has called the entire impeachment process a political move by the opposition aiming to gain control of European Union (EU) funds and Romania’s justice […]

3 Spainish regions request govt. bailout

Reports indicate that Valencia, Murcia, and Catalonia, together have around 65 billion euros in debt. The regions are nearly unable to pay for key public service providers. The situation is also raising concerns among Spaniards who have become tired of heavy austerity measures. “Europe more than Spain, should avoid a Spanish bailout at all costs. […]

Spain jobless rate hits new high

According to the new figures released by the government of Friday, nearly 5.7 million Spaniards are now out of work. The country also says that almost 53,500 people lost their jobs between April and June alone. The jobless rate is up from the first quarter’s 24.4 percent, despite the usual spike in tourism. Earlier, the […]

‘EU center of econ. crisis, US at risk’

We used to complain that the crisis having started in 2008, early 2009 in the United States of America. Well, it has clearly spread out. Europe is obviously at the epicenter of the crisis at the moment, but the US is still at risk.” IMF chief Christine Lagarde

Putin: Russia to keep nuclear arms ready

“We are not going to engage in an arms race, but no one should doubt the efficiency and reliability of our nuclear potential and our aerospace defense,” RIA Novosti quoted Putin as saying at a meeting on the country’s defense program on Thursday. “Nuclear weapons remain the main guarantee of Russia’s sovereignty and its territorial […]

100s protest pension overhaul in Rome

The protesters gathered in front of the ancient Pantheon in the city centre to voice their opposition to the increase in the minimum pension age, AFP reported on Thursday. The protest rally had been called by Italy’s three main trade unions — the Italian General Confederation of Labour (CGIL), Italian Confederation of Trade Unions (CISL), […]

Peugeot Citroen H1 loss nearly $1bn

It is believed that one of the main reasons behind the loss is Peugeot’s withdrawing from the Iranian market. Until February, Iran had been Peugeot’s largest market after France. However, when banking sanctions increased and an alliance with Detroit’s General Motors was announced, Peugeot decided to cut ties with Iran. The French government stopped neither […]

‘Russia ready to host Syria peace talks’

Russia will “press for inter-Syrian dialogue,” Ambassador Vitaly Churkin told a council debate on the Middle East on Wednesday. “To further this we are ready to give the opposition and the government a platform in Moscow to forge contacts to unify the opposition and for negotiations with the government,” he added. Churkin also criticized the […]

French jobless close to 13-year high

The number of registered jobseekers rose by 23,700 last month to 2.946 million, the ministry’s data showed on Wednesday. The new jobless rate marked an increase of 0.8 percent over one month and 7.8 percent over one year. The unemployment is still a crisis in France, although Francois Hollande, who became president in May, pledged […]

Moody’s lowers German banks’ outlook

“Today’s action follows Moody’s decision to change the outlooks on the German sovereign and sub-sovereign ratings to negative from stable,” Moody’s said in a statement on Wednesday. Moody’s cut Germany’s ratings outlook from stable to negative on Monday, citing exposure to European financial woes and the possible cost of more bailouts. The rating company cut […]

Italian mayors protest spending cuts

The Tuesday protest came after Premier Mario Monti presented a bill which includes cuts in the public spending to save a total of 26 billion euros (USD 31.7 billion) in three years. The mayors say the spending cuts will be “lethal” for many cities in the eurozone member state. The 2012 budgets of local municipalities […]

5 killed in France helicopter crash

According to local police, the incident happened around 1:30 p.m. (0730 EDT) on Wednesday when the helicopter went down in Verdon Gorge in the Alpes-de-Haute-Provence region near the border with Italy, Reuters reported. “The accident occurred in a place that’s very difficult to access, which is complicating our work,” a regional police officer said. The […]

Spain eurozone claim irks France, Italy

“There has been no common approach with Italy and Spain. I have not asked for the immediate application of the accords. It makes no sense to say that. We are following the decisions taken at the European summit and are working on them,” AFP quoted French European Affairs Minister Bernard Cazeneuve as saying on Tuesday. […]

‘Bulgaria bus attack a group work’

“From what we see, they (the perpetrators of the attack) arrived nearly a month beforehand, changed rental cars, and travelled to different cities… and not more than one of the people we are looking for was captured on either security camera,” Borisov said on Tuesday. More than 30 Israelis were also injured in the bomb […]

Fears of Greek eurozone exit grow

This comes after inspectors from the International Monetary Fund (IMF), the European Commission and the European Central Bank (ECB) — together known as the troika — returned to Athens on Tuesday to grill the Greek government about the implementation of unpopular austerity measures. The officials said that Greece has fallen short of what it had […]

Spain short-term debt costs climb

Spain paid the second highest yield on short-term debt since the birth of the euro at an auction on Tuesday. The average yield on the 3-month Spanish bonds was 2.434 percent, up from 2.362 in June, while for the six-month bonds, the yield jumped to 3.691 percent from 3.237 percent last month. This is while […]

‘Greek recession worse than expected’

Speaking to conservative lawmakers on Tuesday, Samaras said the primary goal of his government “is to stop the recession and start with recovery” as unemployment nears 24 percent. The premier said Greece remained committed to the terms of two EU-IMF bailout packages despite delays. “We need to make up for these delays fast,” Samaras said. […]

Sweden’s ‘racist sniper’ found guilty

Peter Mangs was found guilty of killing Kooros Effatian, a 66-year-old Iranian immigrant, in the victim’s apartment in June 2003. Malmoe district court said on Tuesday there was “convincing evidence that Peter Mangs has committed 13 (of the 20) crimes he was charged with, including two murders, four attempted murders.” The 40-year-old Swede was also […]

EU refuses to blacklist Hezbollah

“There is no consensus for putting Hezbollah on the list of terrorist organizations,” Cypriot Foreign Minister Erato Kozakou-Marcoullis, whose country currently holds the rotating EU presidency, said on Tuesday. Israel’s hawkish Foreign Minister Avigdor Lieberman made the request for blacklisting the Lebanese resistance movement while sitting alongside the Cypriot minister at a news conference held […]

‘Assad removal will lead to civil war’

Putin said on Monday that Assad’s ouster would be unconstitutional and “a civil war will stretch on for who knows how long.” The Russian president also urged the Syrian government and the opposition to sit down for talks that could help end the unrest. “The Syrian leadership as well as the conflicting side, the so-called […]

Moody’s cuts German outlook to negative

“The level of uncertainty about the outlook for the area and the potential impact of plausible scenarios on member states, are no longer consistent with stable outlooks,” the rating agency said in a statement on Monday. Moody’s also pointed out that the risk of a Greek exit from the eurozone had risen since the beginning […]

Spain borrowing costs hit record high

The yield on 10-year Spanish government bonds on Monday increased to 7.343 percent from 7.225 percent on Friday. This rate of return is above the 7.0 percent danger level for long-term funding. The Madrid stock market also plunged by about 2.0 percent in the early Monday trading after it fell nearly 6.0 percent on Friday. […]

Spain wildfire leaves three dead

A man and his teenage daughter drowned on Sunday after they threw themselves into the sea in order to evade the flames near the border town of Portbou, the Catalan regional government said. The officials also said that a 70-year-old man died from a heart attack while battling the flames near his home in the […]

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