The creation of the supranational currency within the scope of the Customs Union is inevitable, Prime Minister of Armenia, Tigran Sargsyan, believes. According to him, this should be the next stage of integration within the organization, which makes sense from the point of view of simplification of currency circulation in transfers. The new currency may see the light on January 1, 2015. As the prime... 

The head of Irish low cost airline Ryanair, Michael O’Leary, known for his extravagant and even shocking statements, has started to actively promote the idea of “standing seats” at company aircraft. O’Leary does not worry about the fact that European safety regulations require passengers be in their seats with their seatbelts fastened during take-off and landing. The businessman... 

Major US electronics corporation Texas Instruments Inc. (TI) plans to eliminate 1,700 jobs. Major US electronics corporation Texas Instruments Inc. (TI) has announced plans to slash its global workforce by 1,700 people as a ‘cost-cutting’ measure. The move, announced Wednesday by the Dallas-based chipmaker, is part of the TI’s plan to discontinue its mobile business, according to the company’s... 

Massive anti-austerity strikes and protests swept across Europe as millions took to the streets to express their frustration over rising unemployment and dire economic prospects. Many rallies ended with violent clashes with police. Workers marched in 23 countries across Europe to mark the European Day of Action and Solidarity. General strikes had been called in Spain and Portugal, paralyzing public... 

2300 GMT: Protesters in Barcelona burn two police cars forcing officers to respond with rubber bullets. Several people injured. ­2200 GMT: A group of protesters have set a barricade on fire on Madrid’s Santa Maria de la Cabeza street, El Pais reports. 1945 GMT: At least 118 people have been detained across Spain, according to El Pais. At least 40 have been injured, 18 of them police officers. 1930... 

Cyprus may lose financial support from the EU due to “suspicious ties” with Russian oligarchs. According to information published in Spiegel magazine, the German Federal Intelligence Service suspects that the loan, which the EU and the IMF may give the country, will only sweeten the life of Russian businessmen who keep their money in Cyprus. It was written in Monday’s issue of Spiegel... 

A general view of the Greek parliament during a vote on new austerity measures in Athens on November 7, 2012. The Greece parliament has adopted an 18.5-billion-euro (23.6-billion-US dollar) austerity package amid clashes between police and angry protesters in the capital Athens. On Wednesday, the Greek lawmakers voted for the bill that cuts pensions by up to 15%, reduces some wages by a third, and... 

Protesters hold a demonstration at the iconic Obelisk in Buenos Aires on November 8, 2012. Thousands of people have held demonstrations in Argentina to protest against the policies of President Cristina Fernandez de Kirchner. The protests on Thursday night are said to be Argentina’s biggest anti-government demonstrations in more than a decade. Demonstrators in Argentina are infuriated by the rising... 

Reuters polls show that the global economy is expected to improve only slightly in 2013. New projections on unemployment in eurozone show that the jobless rate among member countries will hit a new peak at about 12 percent next year. The European Union’s autumn forecast on Wednesday said that unemployment would hit a new peak at 11.8 percent among the 17-nation EU in 2013 and go down slightly to... 

The U.S. Department of Energy recently released a message stating that in 2012 oil production in the country will increase by seven percent. America is opening up its resources and reviewing its energy policy, experts say. If the production of crude oil and other liquid hydrocarbons continues to grow at the same pace, in a couple of years the United States will catch up to the indicators of Saudi... 

US President Barack Obama US stock markets opened drastically lower on Wednesday following the reelection of President Barack Obama over fears of the looming fiscal cliff. The US stock market indices fell on opening bell with the Dow Jones Industrial Average dropping 1.84 percent to 13,002.50, the S&P 500 tumbling 1.88 percent to 1,401.59, and NASDAQ plunging 1.93 percent to 2,953.87. This comes... 

Riot police stand guard as demonstrators march in front of the Greek parliament in central Athens during protests against new austerity measures on November 6, 2012. Greek police have clashed with angry protesters in the capital city, Athens, as the country’s lawmakers begin debating new austerity measures. Clashes broke out outside the Greek parliament after tens of thousands of anti-austerity protesters... 

People walking by closed shops in Athens during the 24-hours general strike. Greeks have kicked off a new wave of strikes to protest against fresh austerity measures due to be presented by the government to the parliament. The work stoppage began on Monday as the metro in the capital Athens was shut and taxi drivers halted services. There was also a media blackout on Monday as journalists stopped working... 

The payment of compensations to Holocaust survivors in the former Soviet Republics, which have not integrated into the European Union (EU), begins on November 1. The total sum of compensations will be around 245 million euros, and the receivers are 80,000 Jewish people living in the countries of the post-Soviet space. This decision was made as a result of talks between representatives of the German... 

A man looking for job opportunities on newspapers in a shop in Naples, Italy. Newly-released figures show that Italy’s economy will shrink further in 2012 and 2013 as the country’s recession continues to take its toll. Italy’s National Institute for Statistics (Istat) said on Monday that gross domestic product (GDP) is expected to fall by 2.3 percent due to a decrease in domestic demand. According...