Greek Finance Minister Yiannis Stournaras talks to the press after meeting with the EU-IMF-ECB troika at the prime minister’s office in Athens on September 10, 2012. Greek Finance Minister Yannis Stournaras says the cash-strapped euro member has offered its multi-billion-euro austerity program to its troika of international auditors. “We have submitted the 11.5-billion-euro ($14.7 billion)... 

In an obscure working document, the European Commission has announced it is working on plans to open European civil airspace to unmanned drones by 2016. This follows the signing by President Obama earlier this year of the FAA Appropriations bill which mandated that US airspace must be opened to drones by 2015. The European Commission (EC) plan was revealed in a Staff Working Paper published on September... 

Thousands have taken to the streets throughout Greece to protest the drastic budget cuts proposed by the government. In Athens some 2,000 pensioners marched through the city to protest newly introduced pension cuts. It was announced that those who earn more than 1,000 euros a month will have 10 percent of their pensions axed. This is despite a 25 per cent cut over the last two years. “They have... 

China claims restrictions on solar panels exports would hurt the global clean energy sector after the EU Commission launched a probe into suspected dumping by Chinese panel makers. ­The investigation by the Commission was triggered by a group of 25 European solar companies in Germany, Italy and other EU countries, which filed the biggest anti-dumping claim. The group, led by Germany’s SolarWorld,... 

As the economic and financial systems of the world rapidly approach the real possibility of total collapse, signs of what we can expect on a mass scale in the near future are beginning to appear throughout Europe. In Spain, a country that just a few years ago was heralded as a shining example of real estate entrepreneurship, international tourism and a rising middle class, the situation is so bad... 

Moody’s ratings agency has downgraded its outlook on the Aaa rating of the European Union from ‘stable’ to ‘negative,’ linking the decision to a recent outlook downgrade of the bloc’s major economies. “The negative outlook on the EU’s long-term ratings reflects the negative outlook on the Aaa ratings of the member states with large contributions to the EU budget: Germany, France,... 

Employees work on a solar panel production line at a solar company workshop in Hefei, Anhui province, China. German Chancellor Angela Merkel has called for a frank assessment of a solar panel trade dispute with China. The EU is mulling an anti-dumping inquiry into China after the US took similar action in one of the world’s fastest-developing markets. “I suggest the European Commission and... 

China is considering buying more EU government bonds amid a worsening European debt crisis in order to support its biggest trading partner, according to Chinese Premier Wen Jiabao. “China is willing, on condition of fully evaluating the risks, to continue to invest in the eurozone sovereign debt market, and strengthen communication and discussion with the European Union, the European Central... 

On Monday, August 27, 2012, in a meeting in Brussels, NATO military leaders in consultation with “telephonic liaison” with officers of military forces in several former Soviet Republics, major African states, Israel, Saudi Arabia and the Persian Gulf states came to a combined decision to act against Syria. Two issues were on the agenda: 1. How climate change in Greenland will effect geopolitics,... 

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... 

The computer generated image shows how the Hiriko Fold is able to fold up to fit into tiny spaces. Researchers have designed a new car that can fold up to fit itself into small spaces, making it much easier for the driver to find a parking space. Developed by MIT’s Changing Places group and the Spanish Basque region’s development agency DENOKINN, the Hiriko Fold, is an ultra-compact electric... 

Austria’s Foreign Minister Michael Spindelegger Austria’s foreign minister has called on the eurozone countries to create an exit mechanism, which would allow that the failing member states be expelled from the single-currency bloc. “We need to create ways to be able to eject someone from the eurozone,” AFP quoted Michael Spindelegger, who is also the country’s deputy chancellor,... 

A migrant holds his papers ready for the ID-check, which has been instigated following an estimated 100,000 illegal immigrants slipping into Greece each year. Greek authorities have this week begun one of the country’s biggest crackdowns yet on illegal immigrants; they have so far deployed some 4,500 police around Athens and have detained more than 7,000 immigrants in less than 72 hours, the... 

“German” Minister of Economy Philipp Roesler has expressed disillusionment with debt-ridden Greece’s endeavors to implement reforms to save its economy. “I’ve lost my illusions,” Roesler told the weekly magazine Focus in an interview to be printed on Monday. “I proposed with German businesses a whole series of support measures for the Greek government,” he said. “The... 

Jobless Greeks line up outside an unemployment bureau in Athens Unemployment rate in crisis-struck Greece hit an all-time high of 23.1 percent in May as the country struggles through a fifth year in recession, says the national statistics agency. New data, released by Elstat on Thursday, showed that 1.15 million people were out of work in Greece, compared with 3.82 million, who had jobs. The jobless...