Protesters march during a demonstration against government austerity measures, in central Valencia Spanish police have clashed with protesters marching against the latest batch of austerity measures. Over a million public employees, trade union members and fed-up citizens have taken to the streets in over 80 Spanish cities. ­Violence erupted in Madrid around midnight after dozens of protesters reached... 

A majority of people in four European countries believe that the eurozone crisis will worsen after giving Greece the 130-billion-euro financing package. The respondents to the phone survey that was carried out by the French opinion poll institute Ifop from June 18 to 21 were asked if they thought the eurozone economic crisis will worsen or improve after giving Greece the loan. The results of the survey... 

People wait in line at a government employment office at Santa Eugenia’s Madrid suburb on January 27, 2012. New data released by the European Union show that the unemployment rate in the eurozone hit a record high of 11.1 percent in May. According to EU’s statistics office Eurostat, more than 17.5 million Europeans were without a job in the single currency area in May. The figures indicated... 

The German parliament has voted in favor of the EU’s permanent bailout scheme and more lenient budget rules. Chancellor Merkel has been criticized with making a U turn in policy, easing borrowing costs on flagging banks without additional austerity. “Today Germany, with the approval of the fiscal pact and the ESM [European Stability Mechanism] by all parties in both houses of parliament, will... 

Most EU members are in favor of issuing eurobonds, but Germany opposes mutual debt obligations. Don Coxe, an investor and chairman of Coxe Advisors LLP, says Berlin cannot afford to hand out more bailouts when confidence in EU banks is crumbling. ­The talks are taking place in Brussels, where EU leaders are meeting for two days to agree on new growth measures for the union. RT: In a recent blog article... 

The Cypriot government has issued a statement confirming that it has officially made an EU bailout bid, citing heavy exposure to debt-stricken Greece. This makes it the fifth state within the currency union to ask for help. The request comes just days before a deadline to recapitalize one of the country’s largest banks. “The purpose of the required assistance is to contain the risks to the Cypriot... 

The pro-bailout New Democracy party has come out on top in Greece’s parliamentary elections, having gained 30 per cent of the votes. With more than 80 per cent of votes counted, the anti-austerity leftist Syriza party is trailing on 26.6 per cent. The results have kept fears of Greece’s imminent exit from the eurozone at bay for the time being. “The Greek people today voted for Greece to remain... 

Western European countries are preparing the ground for the revision of the Schengen border control and recovery. France and Germany are primarily interested in taking such measures aimed at ensuring the EU’s internal borders. The new French president Francois Hollande, as well as his predecessor, Nicolas Sarkozy, is in favor of strengthening the fight against illegal migration. Enhancement... 

Rating agency Moody’s has cut its rating on Spanish government debt by three notches from A3 to Baa3. Cyprus’s sovereign debt was lowered by two notches from Ba1 to Ba3. The agency said Wednesday that Spain’s debt burden would increase once the EU has approved a plan to help the country’s banks. It has Spain under further review and could lower its rating even further, Reuters reports.... 

EU countries have agreed that border control in the Schengen zone can be restored temporarily under “exceptional circumstances.” The measure is moved by the uncontrolled flow of migrants into the EU in the wake of the economic crisis. Under the proposal, which was approved at a meeting of EU home affairs ministers in Luxembourg, the control of national borders the Schengen Area would be... 

European Union apparatchiks are preparing to lockdown Europe following Greece’s exit. From the Associated Press today: Olivier Bailly said Tuesday that, legally, limits could be imposed on movement of people and money across national borders within the EU if it’s necessary to protect public order or public security — but not on economic grounds. “Some people are working on scenarios,” he... 

Fitch says the downgrade reflects negative economic and market environment in Spain. Fitch credit ratings agency has downgraded Spain’s rating by three notches citing the country’s banking crisis, mushrooming debt and recession as the main reasons for the downgrade. The international agency announced on Thursday that it has cut Spain’s long-term foreign and local currency to ‘BBB’... 

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... 

Spain’s Minister of Finance and Public Administrations Cristobal Montoro The Greek stock market has plummeted 5.9 percent after Standard & Poor’s credit rating agency warned that the country has a one-in-three chance of leaving the eurozone. The minister made the remarks on Tuesday, admitting that Spain’s high borrowing costs have shut out bond markets at a time when the country seeks... 

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...