French Prime Minister Francois Fillon delivers a speech during a press conference at Matignon, in Paris, Monday, Nov. 7, 2011. The French Prime Minister announces the country’s second austerity package in less than three months with the aim of protecting France from the widening eurozone crisis and avoiding credit rating downgrade. “The time has come to adjust France’s efforts. With... 

Italian Prime Minister Silvio Berlusconi Rome has approved a new emergency 45.5-billion-euro austerity plan in response to demands by the European Central Bank (ECB) to balance Italy’s budget by 2013. The Italian government approved the emergency package in line with the ECB request on Friday, despite strong disagreement and resistance from local government officials who maintain that new austerity... 

Italian trade unionists have protested against the government’s planned austerity measures amid budget talks between Premier Silvio Berlusconi and trade union representatives. Trade unions in Italy expressed their worries that the government’s tougher economic measures might heavily cut down on pensions, salaries and social welfare services. “We don’t want to pay for this crisis.... 

The Greek Parliament voted in favor of the austerity measures by a narrow margin. The Greek parliament has voted in favor of new austerity measures, in a move that is expected to infuriate thousands of demonstrators outside the parliament. The austerity measures were approved on Wednesday with 155 votes in favor, 138 against and seven abstentions. Greece’s newly-approved austerity plan is worth...