Large depositors stand to lose up to 60 percent of their savings as Cyprus enforces the controversial conditions of a €10-billion bank bailout from the eurozone and the International Monetary Fund. Officials said that deposits over €100,000 ($128,225) at the country’s largest bank will lose 37.5 percent of their value after being converted into bank shares. The losses could increase by another... 

Cypriots queue for banks, which reopened after 12 days Thursday, as President Nicos Anastasiades cuts own wages by 25%. The Cypriot foreign minister promises banking restrictions will be lifted in “about a month”. A European Central Bank (ECB) spokesman confirmed that 5 billion euros were flown into Cyprus from Germany late Wednesday in time for the reopening of the banks on Thursday, The ECB... 

Jobseekers wait in line at a French job center in Paris The number of jobless people in France has climbed towards a record high in February for the 22nd month running, and has reached its highest level since 1997. Data released from the French Labor Ministry showed on Tuesday that the number of registered jobseekers in the eurozone’s second-largest economy rose by 18,400 from January to 3.188... 

In Nigel Farage’s first TV appearance since the Cypriot wealth tax was announced, the Englishman pulls no punches. In all his years and all his experience of the desperation of the European Union’s leadership “never did [he] think they would resort to stealing money from people’s savings accounts.” The simple fact is that they know they cannot let any country leave, no matter how small,... 

A truly grim Ministry of Finance (MOF) report circulating in the Kremlin today says that a state of “horror and shock” has descended upon the European Union this weekend after the unprecedented announcement that all of the bank depositors in Cyprus will be forced to give up a percentage of their savings in order to bailout their EU bankster overlords. According to this report, EU officials demanded... 

Thousands of students demonstrate in Madrid to protest against Spanish government’s spending cuts in the education system, February 6, 2013. Thousands of students and teachers have demonstrated in the Spanish capital Madrid to protest against the government’s budget cuts in the education sector. Carrying flags and banners that read “Our education will not pay your debt,” the demonstrators... 

European Union (EU) member states have forfeited their political freedoms to a bunch of unelected officials in Brussels, an analyst tells Press TV. “Free trade is a great idea. I always support the idea of free trade among European countries – a wonderful idea. But giving up your political freedom to a central government that is virtually unelected? Are you kidding? They need to wake up,”... 

People wait outside an unemployment bureau in the Greek capital, Athens. Official figures show that the unemployment rate in Greece rose above 26 percent in December 2012, as the country embarks on its sixth year of recession. The Greek statistics office ELSTAT announced on Thursday that the unemployment rate hit 26.4 percent in December, which is five percent more than the data registered in 2011. The... 

Prime Minister Vlad Filat. Moldova’s pro-European government has received a vote of no-confidence spurred on by rivalries within the three-party Alliance, leading to the collapse of the government. The ruling Alliance for European Integration fell on Tuesday after receiving a vote of no confidence, jeopardizing hopes of integration into the European Union as the country seemed to move closer towards... 

Greek pensioners shout slogans during a march in central Athens to protest against the government’s austerity measures. Greek pensioners have demonstrated in Athens to protest against the government’s harsh austerity measures and highlight the consequences of the program on their life. On Thursday, hundreds of elderly braved the heavy rain in the capital and marched to the country’s Labor... 

An analyst says the European Union members will not reach an agreement on the bloc’s next seven-year budget, paving the way for its breakup, Press TV reports. “…When we’re moving into a triple dip recession all around, when top of the agenda for most of the countries is austerity measures, budget cuts and trying to pay off the national debt, the likely of getting people to agree to a trillion... 

Labor Minister of France Michel Sapin called his country a “bankrupt,” which inflicted considerable damage to the already tarnished reputation of President Hollande. The Minister later explained that he meat it ironically, but his black humor was not appreciated. The more so that bankruptcy (due to the situation in Mali and financial problems) may become a reality for France in the near... 

Greek Prime Minister Antonis Samaras arrives at the Finance and Development Ministry in Athens for a meeting with the Development minister, January 9, 2013. New official data show that Greece’s unemployment rate increased to 26.8 percent in October as the eurozone country witnesses a sixth year of recession. “Unemployment in October 2012 was 26.8 percent, compared with 19.7 percent in October... 

Eurozone jobless rate hits new record at 11.8 percent in November 2012. Official data show the unemployment rate in the eurozone has hit a new record in November, 2012, as the 17-nation bloc continues to grapple with worsening financial crisis. According to official figures, the jobless rate for November reached 11.8 percent, up from 11.7 percent in October. November comes as the eurozone’s 19th... 

Spaniards protest against austerity measures in the capital Madrid, December 17, 2012. A jobless Spanish man has died at a hospital after setting himself on fire, only two days after another Spaniard self-immolated on social and economic grounds. The 63-year-old man, who suffered from financial problems, died in the Carlos Haya hospital in the southern city of Malaga on Friday. Police officials issued...