A view of the Greek parliament in session. Parliament in Greece has been dissolved after Prime Minister Antonis Samaras requested the dissolution of the legislature following its failure to choose a new president after three successive rounds of voting. A statement from the parliament said an early election in the austerity-weary country would be held on January 25, as Samaras announced on Monday,... 

A modern autorack in Germany. Germany’s exports have marked their biggest fall since the global financial crisis reached its peak in 2009, raising fears that Europe’s largest economy might slide into recession. Germany’s Federal Statistical Office said Thursday that exports slumped by 5.8 percent for the month of August. Moreover, imports dropped by 1.3 percent in seasonally adjusted terms, the... 

Newly-released figures show that Italy’s economy is expected to shrink more than expected in 2013, continuing the country’s longest recession since the World War II. A report by Italy’s National Institute for Statistics (Istat) said on Monday that the country’s gross domestic product (GDP) will contract by 1.8 percent compared to a previous estimate of 1.7 percent contraction. Istat... 

Tens of thousands of Portuguese have staged anti-austerity demonstrations in the country’s two most populated cities, demanding the resignation of the government. On Saturday, thousands of people took to the streets of the capital Lisbon against new wage and pension cuts planned in the country’s 2014 budget. According to organizers, up to 70,000 people attended the rally. The protesters called... 

A woman holds the Greek flag during an anti-austerity protest, July 13, 2013. A European Union official says Greece will need more rescue funds from its international creditors as the current rescue loan program expires at the end of 2014, amid economic slump in the European country. “Greece’s trouble will not have been completely resolved by 2014. It’s realistic to assume that additional... 

Fresh data show that the unemployment rate in debt-ridden Greece hit a record high in May, with youth accounting for the largest jobless number. Greece’s jobless rate reached 27.6 percent in May, up from 27.0 percent in April, according to a report released on Thursday by Greece’s statistic service LSTAT. The agency added that the youth aged between 15 and 24 were hit the hardest with a 64.9 unemployment... 

People waiting in line at a government employment office in Spain. Fresh data reveal the eurozone unemployment rate has hit a record high of 12.2 percent in April, with around 19.2 million receiving government financial assistance as recession continues to take its toll on European economies. The Eurostat data agency said on Friday that a total of 1.6 million people have lost their jobs in the eurozone... 

Demonstrators marching during a protest against austerity measures in Italy’s capital, Rome. Thousands of Italians have taken to the streets in the capital Rome to protest against tough austerity measures adopted by the government of Prime Minister Mario Monti. Thousands of anti-austerity demonstrators gathered in Rome’s Piazza della Repubblica on Saturday, expressing their anger at the government’s... 

Portuguese people protesting against austerity measures The economic crisis in Portugal is forcing an increasing number of people in the recession-mired eurozone country to turn to food banks for help. “We have more people asking for our help every year, the list is growing so fast that we had to do something that isn’t our policy: create a waiting list,” said Rogerio Figueira, a volunteer with... 

European Union (EU) member states have forfeited their political freedoms to a bunch of unelected officials in Brussels, an analyst tells Press TV. “Free trade is a great idea. I always support the idea of free trade among European countries – a wonderful idea. But giving up your political freedom to a central government that is virtually unelected? Are you kidding? They need to wake up,”... 

People wait outside an unemployment bureau in the Greek capital, Athens. Official figures show that the unemployment rate in Greece rose above 26 percent in December 2012, as the country embarks on its sixth year of recession. The Greek statistics office ELSTAT announced on Thursday that the unemployment rate hit 26.4 percent in December, which is five percent more than the data registered in 2011. The... 

Greek pensioners shout slogans during a march in central Athens to protest against the government’s austerity measures. Greek pensioners have demonstrated in Athens to protest against the government’s harsh austerity measures and highlight the consequences of the program on their life. On Thursday, hundreds of elderly braved the heavy rain in the capital and marched to the country’s Labor... 

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... 

German tanks rumbling through the historic streets of Greek capital Athens as the conquering soldiers stage a victory parade in 1941 Greece has threatened to hit Germany with a bill for tens of billions of pounds in outstanding reparations for Nazi war crimes during the Second World War. The move is an indication of growing outrage in Athens at the strictures being placed on the Greek economy by EU... 

The European currency euro logo stands in front of the European Central Bank (ECB) in Frankfurt, Germany. Business confidence has dropped in Germany to its lowest level in more than two years amid pessimism over the eurozone’s deteriorating debt crisis, data show. According to the German research institute, Ifo, the country’s Business Climate Index fell to 102.3 points in August from 103.2 points...