The EU will immediately ban new oil deals with Iran and implement a total boycott of Iranian oil in July 2012, under sanctions discussed by the 27 Foreign Ministers today. Sanctions could also target the activities of a number of Iranian companies, individuals and financial institutions, including the country’s central bank. British Foreign Secretary William Hague said the measure was part of... 

JP Morgan's Chief Executive Officer, Jamie Dimon JP Morgan’s Chief Executive Officer, Jamie Dimon says Europe is the largest threat to the global economy, calling for a solution to the economic woes sourced from the continent. “We urgently need a solution. The longer the problem drags on, the less likely it is we get off lightly,” the CEO of one of the largest banks in the United States... 

The charismatic Marine Le Pen has campaigned hard against free trade and the European Union, and has pushed the party’s traditional tough line on crime and immigration. Marine Le Pen said she would balance France’s books if elected president by leaving the euro, slashing immigration, taxing imports and tapping the central bank for cheap loans instead of the debt markets. The National Front leader,... 

Protesters trample a burnt European Union flag during a demonstration in front of the EU Parliament and Committee headquarters in downtown Budapest, January 14, 2012. Thousands of Hungarians have protested against the European Union, urging their country to pull out from the bloc while Budapest seeks EU’s backing to evade insolvency. People gathered in front of the European Commission offices... 

Protesters waved Romanian flags with holes in them, symbolising the 1989 anti-communist revolution. Police officer seriously injured after resignation of Palestinian-born doctor over health reforms sparks mass protests. Romanian police have fired tear gas and clashed with protesters during an anti-government rally in the third consecutive day of demonstrations against austerity cuts and worsening... 

Standard & Poor's has downgraded the credit ratings of several European nations. Standard & Poor’s has downgraded the credit ratings of France, Italy, and Spain, as the European debt crisis continues to intensify. According to French government sources, the ratings agency has downgraded the country’s Triple-A credit rating, while downgrading Italy and Spain’s ratings as... 

Unemployment in the European Union states has reached a record-high level of 9.8 percent, a new report says. A quarterly report released by the European Commission shows that unemployment has reached a historically high level across Europe. The report, issued on Tuesday, says 9.8 percent of all formerly-employed Europeans are currently jobless, with unemployment having steadily escalated since last... 

Insolvency is threatening heavily debt-ridden countries such as Greece, Portugal, Italy, Ireland and Spain. Official figures show the rate of unemployment in the eurozone reached an all-time high of 10.3 percent in November 2011. According to the Eurostat statistics agency, by November more than 16.3 million people were unemployed in the 17 nations that use the euro as their currency. Eurostat figures... 

Italy's unemployment rate increased in November Italy’s youth unemployment has reached a new record high of over 30 percent, as it confirms that the euro-zone’s third-largest economy is already in recession. According to seasonally adjusted figures released by ISTAT on Thursday, the unemployment rate for young people aged 15 to 24 years have reached 30.1 percent in November, while the... 

A man waits for a train at Santa Apolonia train station during a strike in Lisbon, Portugal, December 23, 2011. Train drivers in Portugal have begun the New Year with industrial action, as they continued their strike in protest at disciplinary measures. Most national rail services have remained cancelled on Sunday, the last day of a four-day strike. Drivers were disciplined for allegedly failing to... 

German Chancellor Angela Merkel (L), President of France Nicolas Sarkozy (C) and European Commission President Jose Manuel Barroso Eurozone leaders have used their New Year’s messages to warn of more economic crisis for the year ahead, as many eurozone countries expect recession in 2012. German Chancellor Angela Merkel said on Sunday she expects more difficulty in 2012, but she does “everything”... 

For the first time in many years, Russia’s Foreign Ministry published an extensive report about the state of affairs in the field of human rights in the United States of America, Canada, EU, NATO members and Georgia. The report from the ministry also touched upon Libya, where NATO’s incursion has led to the bloody change of power. The document is not flawless. However, it clearly shows... 

As the eurozone teeters on the brink of collapse, the UK Treasury is working on a contingency plan to limit the fallout of a potential full-scale euro meltdown. ­The plan would entail capital controls to restrict the flow of money in and out of the country. Officials fear the departure of a eurozone member might trigger capital flight from weaker members of the economic union to countries like the... 

German Chancellor Angela Merkel Newly released figures in Germany indicate that the European country’s debt exceeded two trillion dollars at the end of this year’s third quarter. According to provisional official data published on Tuesday, Europe’s largest economy had a debt totaling 2.028 trillion euros (USD 2.65 trillion) at the end of the third quarter of this year. A statement... 

A picture showing protests against the government austerity measures in Greece. Tens of thousands of Europeans are migrating from their homelands, many heading to the southern hemisphere, as the continent sinks deeper into financial crisis. While official statistics shows that Portugal, Greece and Ireland had the largest stream of immigrants leaving their country’s this year, evidence points...