Leaders Warn of Economic 'Iron Curtain'

Provided escape from Communism for East Germans

(NEWSER) - Hungary is celebrating the 20th anniversary today of its “Pan-European Picnic”: the day it opened its border with Austria, providing a pathway for hundreds of East Germans to exit Europe’s communist east. “The Soviet bloc was like an air balloon with over-pressure so it needed only a prick of the needle, and we were holding this needle,” one organizer tells the BBC. More»

Collapse endangers plans for missile defense installation

(NEWSER) - The Czech prime minister announced his resignation last night after his government lost a confidence vote in parliament, reports the New York Times. The ouster of Mirek Topolanek comes at an awkward moment: Not only do the Czechs hold the rotating EU presidency, but Barack Obama is scheduled to visit Prague in less than 2 weeks. The government's collapse may undermine efforts to install a US missile defense system in the Czech Republic. More»

(NEWSER) - Hungary’s Socialist prime minister will step down so that a leader more adept at managing the country’s dire economic straits can take over, Reuters reports. “I hear that I am the obstacle to the cooperation required for changes,” Ferenc Gyurcsany told a meeting of his party. “I am eliminating this obstacle now.” Gyurcsany hopes to ensure a “constructive vote of no confidence,” which would name his successor before he leaves. More»

Country's troubles likened to Greek crisis

(NEWSER) - In order to pay back $11.6 billion in debt, Portugal needs to re-enter capital markets next year—and as it stands, that's looking like a tall order. The deadline isn't until September 2013, but the International Monetary Fund could call on the country to release a financial plan a year in advance. And if it looks like Portugal will be incapable of accessing markets, the IMF could overhaul its bailout, the Wall Street Journal reports. More»

Legal action challenges 'Viktator's' effort to consolidate power

(NEWSER) - The European Union has given Hungary a legal slap in the face over what it sees as moves toward authoritarianism. The EU's executive body has launched legal action over the country's new laws governing its central bank, judiciary and data protection authority, reports the Wall Street Journal . Hungarian premier Viktor Orban—dubbed the "Viktator" by critics—recently lowered the retirement age for judges and prosecutors to 62 from 70, a move the EU sees as an attempt to pack the courts with his political allies. More»