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The Italian government's borrowing rates have hit a poet euro-era high as Prime Minister Silvio Berlusconi fends off suggestions he is about to resign. It is feared that Italy, the eurozone's third biggest economy, could become the next victim of the debt crisis. Silvio Berlusconi faces a crunch … [Read more...]
UK Prime Minister, David Cameron, has had a rather verbally violent week. Having just returned from an EU summit where he had a massive row with the French President, Nicolas Sarkozy, Cameron is now facing a backbench revolt from Conservatives who want a referendum on pulling out of the European … [Read more...]
A pub landlady in the United Kingdom has won the latest stage of her fight to air Premier League football matches using a foreign TV decoder. Karen Murphy had to pay nearly £8,000 in fines and costs for using a cheaper Greek decoder in her Portsmouth pub to bypass controls over match … [Read more...]
European leaders have reached agreement on a second bailout package for Greece. They have also expanded their rescue funds to help shore up any other debt crises in the eurozone. European Union president Herman Van Rompuy said the rescue deal would be financed by both the EU and the International … [Read more...]
International credit ratings agency Moody's Investors Service has downgraded Portugal's debt to junk status and sounded a warning about its future borrowing. Moody's said there was a growing risk that Portugal would need a second bail-out before it was ready to borrow money from financial markets … [Read more...]
As the Greek parliament debates prior to a key vote on new austerity measures, Unions in Greece have staged a 48 hour general strike to protest the European/IMF bailout conditions. Large crowds of protesters are gathering on the streets, with public transport in Athens grinding to a halt. On … [Read more...]
Former British Foreign Secretary Jack Straw has predicted the collapse of the eurozone and urged the United Kingdom to consider the "alternatives" as the Greek debt crisis worsens. Straw speaking inthe UK parliament as MP's discussed the latest bailout of Greece, said the euro was facing a "slow … [Read more...]
Around 5000 Greek police managed to fend off 20,000 anti-austerity protesters in Athens who were trying to surround the Parliament buildings. Riot police including motorcycle officers used busses and barriers to prevent the encirclement of the Greek Parliament. At times the crowd surged at police … [Read more...]
Political rivals from the left and right of the political spectrum in Finland have agreed to back the proposed EU bail-out for Portugal, depriving the Nationalist True Finns party of their chance to scuttle the bail-out. The likely next prime minister of Finland, Jyrki Katainen, leader of the … [Read more...]
Finland has gone to the polls to elect a new parliament. Opinion polls are showing the nationalist True Finns party has quadrupled its support since the last election. Nationalist leader Timo Soini, has seen his tiny party go to 15 percent support in the opinion polls up from a minimal 4 percent at … [Read more...]
Peru has welcomed home hundreds of Inca artefacts that were taken to the United States nearly a century ago. The artefacts were taken from the citadel of Machu Picchu which was 're-discovered' by American explorer Hiram Bingham in 1912. Yale agreed to return the artefacts last year after a … [Read more...]
Portugal's president Aníbal Cavaco Silva is on the hunt for a new Prime Minister following the resignation of Socialist Prime Minister Jose Socrates yeateday. President Cavaco Silva will begin meeting with political parties on Friday in an effort to fill the political vacuum following Socrates … [Read more...]
Italian Prime Minister Silvio Berlusconi has called on the Senate not to jeopardise his government out of narrow political interests. Speaking directly to the Senate, he said Italy needed "operational continuity", and a no vote could mean a "crisis in the dark". The 'vote' he is talking about is … [Read more...]
European Union ministers have reached an 85 billion euros agreement to bail out the economy of the Republic of Ireland. The deal will see 35bn euros go towards propping up the Irish banking system with the remaining 50bn euros to help the government's day-to-day spending. No infrastucture … [Read more...]
