A Euro coin with the Spanish national flag in the background. A recent report released by a Spanish institution says 25 percent of Spain’s population lives below poverty line, 2 percent higher than last year, as the country grapples with the highest rate of impoverishment among European states. According to an annual report issued by the Spanish Economic and Social Council (CES), lack of jobs for... 

French Finance Minister Pierre Moscovici pictured on May 21, 2012at a press conference in Berlin, Germany French Finance Minister has warned that Greece’s exit from the eurozone will be on the agenda if Greek authorities do not respect the bailout deal after parliamentary elections in mid-June. “The question would be raised without a doubt…. if the Greeks themselves do not respect their... 

Ireland is voting in a referendum on an EU austerity pact. If Dublin does not accept tough budget deficit obligations, it would be a kiss goodbye to EU rescue money, which could be followed by default and a eurozone exit. The mooted European Fiscal Pact was initiated by Germany and France. If approved, it would oblige Dublin to strictly control its budget deficit, which reached 13.1 per cent last... 

The European Parliament has opposed the controversial ACTA treaty, after three of its influential committees said the trade agreement should be rejected. The Legal Affairs Committee (JURI), the Committee for Industry, Research and Energy (ITRE) and the Committee for Civil Liberties, Justice and Home Affairs (LIBE) all voted against implementing the agreement, which caused mass protests in several... 

A euro coin with the Spanish national flag in the background. The European Commission says Spain is on top of the list of the eurozone 12 critical economies as new reports show investors flee Spain amid the deepening financial crisis. Affected by Greece’s economic woes, the Commission on Wednesday listed Spain and Cyprus as two European states in “very serious” trouble. “Spain faces... 

Israeli organ trafficking ring leader Moshe Harel A European Union (EU) prosecutor says an Israeli man suspected of running an organ trafficking network has been arrested in Israel. “We have received information that Moshe Harel has been arrested in Israel on organ trafficking and other related offences,” EU special prosecutor Jonathan Ratel said. Harel is wanted in Kosovo, where he and... 

Anders Fogh Rasmussen The European missile shield is up and running, says NATO Secretary-General Fogh Rasmussen, who announced its “interim capability” to shoot down incoming missiles. Earlier Russia voiced strong concern over the issue. The “interim operational capability”declared by Rasmussen at the NATO summit in Chicago on Sunday is the first step to fulfilling the controversial... 

Ten years ago, the world’s youngest and most ambitious currency – the euro – became materialized. Twelve countries of the European Union launched the new monetary unit in circulation. The new currency was born in one of the largest cities of Germany – Frankfurt-am-Main – where the European Central Bank is headquartered. Citizens of Austria, Belgium, Germany, Ireland,... 

An Iranian oil tanker The South Korean Economy Ministry says Seoul and Tokyo have asked the European Union to extend insurance contracts on tankers carrying Iranian crude after the bloc’s oil embargo comes into effect on July 1. “To the EU members, we explained the problems that could be caused to non-EU members by the EU insurance embargo,” the ministry said in a Monday statement. “In close... 

The euro has dropped in value following the electoral defeat of ruling parties in France and Greece. The euro has dropped in value following the electoral defeat of ruling parties in France and Greece as new anxiety about the fate of EU austerity policies rattles financial markets. The currency sank to 1.29 dollars on Monday, its lowest level since January, after Socialist Francois Hollande beat President... 

A grim Ministry of Finance report circulating in the Kremlin today states that the shocking record rise this past week of the United States outstanding debt to $15.692 trillion (just $600 billion short of their debt ceiling) has pushed the world’s most powerful economy into a situation of its outstanding obligations now being 101.5% of its entire gross domestic product (GDP), which when coupled... 

Jobseekers queue at a job center in Madrid The eurozone unemployment rate has hit a record high in March, rising to 10.9 percent for the first time for 15 years, official figures show. The European Statistics Office, Eurostat, announced on Wednesday that almost 17.4 million men and women, over three million of whom were under 25, looked for work in the zone in March which is about 170-thousand more... 

Angela Merkel (left) and Francois Hollande (right) German Chancellor Angela Merkel and French Socialist Party presidential candidate Francois Hollande have had a war of words over how to handle the European debt crisis. It is “not for Germany to decide for the rest of Europe”, Hollande, who is the favorite in France’s May 6 run-off election, said on Friday, The Daily Telegraph reported. He... 

Marine Le Pen, who heads France's National Front party, has highlighted the country's right to defend its national identity France’s politics would appear to be in deceptively rude health. As Sunday’s first stage of the country’s two-round presidential election approaches, the vital indicators return vivid signs of life. Mass meetings in Paris and elsewhere have drawn numbers and passion... 

Despite the European Union’s sanctions against Iran’s oil sector, oil and gas companies from 15 European states have thus far put in a request to take part in Tehran’s 17th International Oil, Gas, Refining, and Petrochemical Exhibition. “So far, 1,255 domestic and foreign companies from 44 countries have registered to take part in this international exhibition,” Eshaq Rouyvar, the director...