Official figures show that unemployment in the European Union (EU) has increased during the 12-month period ending in January 2014, with around 26 million people jobless in both the EU and the eurozone, Press TV reports. The EU statistical agency, Eurostat, said in its latest report that unemployment in the EU rose by 17,000 over the one-year time span. More than 26 million people of working age were... 

Latvia has celebrated the New Year by joining the eurozone, becoming the 18th member of the Europe-wide currency bloc. However, recent opinion polls show that a majority of Latvians oppose the move, with just one-fifth strongly in favor. The euro switchover ceremony took place Jan. 1 at the HQ of the state-owned Citatele Bank – the lender reconstituted from the collapsed Parex Bank, where Latvia’s... 

An Italian man reads job offers outside a recruitment agency in the city of Milan. Southern Italy has lost 600,000 jobs over the past six years and the area has lost some 43.7 billion euros of its gross domestic product (GDP) during the economic crisis, a report shows. The data was released on Friday by the country’s industrial employers’ association Confindustria. The association also said that... 

The World Economic Forum (WEF) has warned that a lost generation of jobless youth in the eurozone could tear Europe apart if policymakers fail to address the chronic levels of unemployment. The warning came on Friday, as the WEF presented its outlook on the global agenda for 2014. “There is a growing consensus on the fact that unless we address chronic joblessness we will see an escalation in social... 

Prices of goods in Greece, from milk and bread to medicine have fallen by 2.0 percent in October, and are now at their lowest since 1962. Only the price of alcohol and tobacco increased in the last year. Consumer prices in Greece plummeted 2.0 percent year-on-year in October 2013, according to a report by Greece’s Hellenic Statistical Authority on Friday. In its sixth year of deep recession, unemployment... 

Newly-released figures show that Italy’s economy is expected to shrink more than expected in 2013, continuing the country’s longest recession since the World War II. A report by Italy’s National Institute for Statistics (Istat) said on Monday that the country’s gross domestic product (GDP) will contract by 1.8 percent compared to a previous estimate of 1.7 percent contraction. Istat... 

In light of the arrogant and brazen internationalism courtesy of Antonis Samaras and the unconstitutional and unlawful persecution of the leader and Members of Golden Dawn, he is now expecting people to give a “thank you” to the international usurers, who with the help of this domestic political puppet continue to steal from the Greek People. The lackeys of militant journalism sunk to the lowest... 

A Siemens worker in Germany works on a turbine. Leading economic think tanks have slashed this year’s annual growth forecast for Germany by half, as uncertainty in the eurozone continues. On Thursday, the Munich-based Ifo together with Berlin-based DIW, Halle-based IW, and Essen-based RWI economic research institutes estimated that Germany’s gross domestic product (GDP) would grow by 0.4... 

Tens of thousands of Portuguese have staged anti-austerity demonstrations in the country’s two most populated cities, demanding the resignation of the government. On Saturday, thousands of people took to the streets of the capital Lisbon against new wage and pension cuts planned in the country’s 2014 budget. According to organizers, up to 70,000 people attended the rally. The protesters called... 

Demonstrators dressed to represent prisoners, hold chains and a mock cannonball during a protest against the reforms by the Italian government in downtown Rome, October 18, 2013. Thousands of Italian civil servants and transport workers have gone on strike in the capital Rome and other cities to protest against austerity measures enforced by the government. Friday strike, which disrupted urban transportation,... 

Official figures show that the unemployment rate in Greece jumped to 27.6 percent in July from a revised 27.5 percent in June, as the financial crisis continues to take its toll on jobs in the country. Greece’s statistics service ELSTAT said on Thursday that 1.36 million people were unemployed in July, up ten percent from a year earlier. The country’s jobless rate was over twice the eurozone’s... 

Official figures show that the unemployment rate in Spain has increased again with nearly five million people out of work in the recession-hit country. Figures released by Spain’s Labor Ministry on Wednesday indicated that the number of people registered as out of work rose by 25,572 people in September. The ministry added that the total number of unemployed people in Spain remained at around 4.7... 

The bailout would save Cyprus from bankruptcy and possibly guarantee its future in the eurozone. International Monetary Fund (IMF) has agreed to grant 84.7 million euros (USD 113.1 million) in financial aid to Cyprus, as part of a 10-billion-euro bailout program to the debt-stricken country. On Monday, the IMF said it agreed, in partnership with the European Union, on the bailout package for Cyprus,... 

A woman holds the Greek flag during an anti-austerity protest, July 13, 2013. A European Union official says Greece will need more rescue funds from its international creditors as the current rescue loan program expires at the end of 2014, amid economic slump in the European country. “Greece’s trouble will not have been completely resolved by 2014. It’s realistic to assume that additional... 

German finance minister, Wolfgang Schäuble, has unexpectedly said that Greece will need more financial help, admitting for the first time that $328 billion pledged so far won’t be enough to save Greece from bankruptcy. Schäuble’s surprise admission of this deeply unpopular prospect comes at a sensitive time for his party. Germany will hold a general election on September 22. “There...