EU Eyes Single Telecom Market

New concerns (and rumors) center on Portugal, Spain

(NEWSER) - Authorities across Europe rejected a report that a Portuguese bailout would cut the risk of Spain needing similar action, the Wall Street Journal reports. A German paper had cited German finance ministers in the matter, but the ministry, Portugal, Spain, and the European Commission all said Portugal wasn’t being pushed to ask for such assistance. Still, worries centered on Spain and Portugal prompted European markets to plunge. More»

At odds with Germany over ECB, deflation, budget enforcement

(NEWSER) - French President Nicolas Sarkozy yesterday called for changing the eurozone treaty to make a tighter, stronger union, and demanded more budget discipline, increased help for foundering economies, and replacing countries' veto rights with qualified majorities, reports Reuters . He also called for the European Central Bank to be more interventionist and fight possible deflation. "Let us not hide it, Europe may be swept away by the crisis if it doesn't get a grip, if it doesn't change," he warned. "We don't have the right to let such a disaster happen." More»

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 12,000 additional doctors, 80,000 engineers, 66,000 IT specialists. To bridge that chasm, Berlin must turn to high-unemployment neighbors, such as Greece, Spain, and Portugal. More»

Hard-hit Germany blames cucumbers from Spain

(NEWSER) - A deadly E. coli outbreak in Europe linked to tainted cucumbers and other vegetables is getting worse, report the Wall Street Journal and AP :

• The toll: Sixteen people are dead (15 in Germany and one woman in Sweden who had just traveled to Germany); more than 1,000 people are sick in Germany alone, with 373 having the most serious form of E. coli. Hundreds more cases are reported throughout Europe.

Even healthier countries now feeling pinch

(NEWSER) - Financial crises in Greece, Ireland, and Portugal have stoked fears for Italy, Belgium, and the more robust Germany as Europe struggles to find a solution, the New York Times reports. Worry that Germany may have to pay the brunt of bailout costs have prompted the sale of its debt; investor concerns are marked by a euro rapidly sinking against the dollar. More»