European economic crisis

6 Stories

Once Spain's Pride, Horses Abandoned by Thousands

Recession leaves former status symbol for dead—literally

(Newser) - Europe's horses haven't been faring very well of late, and their predicament is particularly dire in Spain, where horses that were once a prized sign of the boom are now being abandoned en masse in the bust —to the tune of 60,000 that passed through slaughterhouse... More »

Moms Undress to Fund a School Bus

Calendar may counteract Spanish austerity measure

(Newser) - From economic austerity to ... a semi-nude calendar? Yep, mothers in Spain have stripped down for a racy calendar in the hope of raising $57,000 to fund a children's school bus, the Telegraph reports. "I'll do anything for my child and If I have to undress, because... More »

EU: New Greek Deal Will Work

Markets rise after fresh deal to keep country afloat

(Newser) - European Union finance ministers and the IMF have hammered out yet another deal on Greek debt and they say this one is going to work. The euro and Asian markets rose after the announcement of the latest deal on the three-year-old crisis, which will cut the rates on bailout loans,... More »

EU Budget Talks Collapse Without Deal

But officials cite 'constructive' discussions

(Newser) - A European Union summit charged with agreeing on a long-term budget for the 27-nation bloc has broken up without a deal. European Council President Herman Van Rompuy, who presides over the summits, said that the national leaders had told him and European Commission President Jose Manuel Barroso to continue working... More »

France Loses AAA Rating on Weak Growth

Moody's downgrades the government's bond rating

(Newser) - Moody's Investors Service has downgraded France's government bond rating, citing the country's weak economic growth outlook and its exposure to Europe's economic crisis. The rating agency lowered France's rating one notch today from triple-A—its top rating—to Aa1. The outlook for the rating remains... More »

Report: IMF, Germany Ready to Pull Plug on Greece

Rising bond rates show Spain also heading deeper into crisis

(Newser) - The International Monetary Fund could be ready to cut off fresh funds to Greece, a step that would likely lead to default and getting bounced from the eurozone, reports der Spiegel . The big problem is that Greece has fallen so far behind in its austerity promises—made to secure $158.... More »

6 Stories