Riot policemen spray tear gas as they clash with demonstrators in front of the Greek parliament on June 29, 2011 during a protest part of the 48-hour general strike against the bankruptcy-threatened government which is desperately trying to push through sweeping austerity cuts. Protests have spread across Europe as Greece, Italy and Spain are struggling to hold on to the euro. Meanwhile, residents... 

French President Nikolas Sarkozy, left and French Prime Minister Francois Fillon, right. France is due to announce tighter fiscal measures, clamping down on tax breaks, as it seeks to restrain its deficit, amid concerns that the country could lose its AAA credit rating. French president, Nikolas Sarkozy ordered the budget and finance minister to pull together the measures earlier this month, after... 

Spain’s unemployment rate has hit 21.3% for the first time in nearly 13 years, official figures have shown. There were 4,612,700 people unemployed in the country at the end of March, the national statistics agency INE said. Spain’s jobless rate has risen sharply during the economic downturn and is the highest in the eurozone. Meanwhile, official European Union (EU) figures showed that... 

Estonia will become the third ex-Communist country to embrace the euro Estonia is just hours away from becoming the 17th member of the eurozone – the first ex-Soviet state to adopt the EU’s single currency. The changeover from the kroon to the euro starts at midnight (2200 GMT) in the small Baltic nation of 1.3m people. Despite market pressure on the eurozone and the bail-outs of Greece... 

An EU flag flutters inside the European Union headquarters in Brussels. Brussels: It’s been a stormy year for the European single currency, and there are very real fears that the sovereign debt crises that hit Greece and Ireland could engulf other eurozone countries. The EU has been under fire for its response to the crisis and for not doing enough to prevent a fresh set of bailouts. No one could... 

Luc Everaert The International Monetary Fund this morning released its latest review of the eurozone economy, a collection of 16 countries that, judging from the report’s conclusions, are becoming the continent’s new Brothers Grimm. Growth is slow — and at risk of getting slower because bank credit has dried up. The banks themselves are undercapitalized and far too dependent on government... 

Eurozone’s unemployment figure continues to linger as around 16 million Euro currency users are still out of work, official data shows. Unemployment across the 16 countries which share the Euro stuck at a record 10 percent in May for the third month running, European Union data showed on Friday. The area’s unemployment rate has remained at its highest level since the creation of Euro in... 

Markets are in turmoil as there are fears of a major downward spiral for euro. Amid a festering financial crisis in Europe, the unemployment rate across countries using the euro currency has jumped to a historic %10.1 in April. According to statistics released by the European Union, almost 16 million people living in the Eurozone countries are currently out of jobs. The figures are showing a significant...