The Euro logo outside the headquarters of the European Central Bank, Frankfurt am Main Germany. Manufacturing sectors in France and other eurozone countries have entered 2013 in a downward trend as new data shows a decrease in demand of orders. Contractions of manufacturing in the eurozone in December included all top four economies in the bloc, according to Markit’s manufacturing Purchasing Managers’... 

Demonstrators take part in an anti-government protest in Ljubljana, Slovenia on December 21, 2012. Thousands of Slovenians have taken to the streets in the capital Ljubljana to express their anger over new austerity measures imposed by the government. The demonstration, which was reportedly attended by more than 5,000 people, took place on Friday near the country’s parliament where protesters chanted... 

Demonstrators hold “No” signs while surrounding the Spanish parliament to protest against spending cuts in Madrid. The Spanish parliament has adopted a 39-billion-euro (52-billion-US dollar) austerity package as the debt-ridden eurozone country battles to reduce its budget deficit. On Thursday, the lawmakers voted for the cuts in the 2013 budget, which slashes spending for health care and education,... 

European Central Bank (ECB) Governing Council member Erkki Liikanen Member of the European Central Bank (ECB) Governing Council Erkki Liikanen warns that the worsening financial condition in the eurozone may endanger the ‘German economy’. “Economic developments are causing us concern. No country is immune to the effects of the (EU) debt crisis. Not even the German economy,” said Liikanen on... 

Jobless Greeks wait outside an unemployment bureau in the capital Athens. The official Greek unemployment rate has risen to 26 percent as the near-bankrupt eurozone country heads toward a sixth year of recession. The Greek statistics office ELSTAT announced on Thursday that the jobless number rose to 1.295 million in September, pushing up the unemployment rate from 25.3 the previous month and 18.9... 

Workers marching in downtown Naples, in southeast Italy, during a protest to demand new job opportunities. Official data show that the unemployment rate in the eurozone hit a new record high of 11.7 percent in October as the 17-nation bloc continues to grapple with a worsening financial crisis. The Eurostat data agency said on Friday that a total of 18.7 million people were out of work in October,... 

Russia seriously considers an opportunity to take up the role of a supplier of organic products within the scope of the World Trade Organization. Russian lawmakers are working on the bill to support the production of organic agricultural products. This law will help Russian farmers enter the EU market with organic products. As expected, the bill will be handed over to the Ministry of Agriculture of... 

Bankia’s headquarters in Madrid Spain’s nationalized Bankia says it plans to cut 6,000 jobs by laying off about 28 percent of its staff over the next three years. The announcement on Wednesday follows a preliminary report on Madrid’s overall economy by the Spanish Central Bank suggesting that the country’s job-killing recession is expected to persist into the final quarter of 2012. Bankia’s... 

Students clash with riot police during a demonstration in downtown Rome on October 5, 2012 against deep cuts in the education budget. Thousands of people have taken to the streets of Italy to protest against the government’s financial policies. The protesters, who were mainly students, staged demonstrations across Italy on Saturday to express their opposition to Prime Minister Mario Monti’s austerity... 

A general view of the Greek parliament during a vote on new austerity measures in Athens on November 7, 2012. The Greece parliament has adopted an 18.5-billion-euro (23.6-billion-US dollar) austerity package amid clashes between police and angry protesters in the capital Athens. On Wednesday, the Greek lawmakers voted for the bill that cuts pensions by up to 15%, reduces some wages by a third, and... 

Reuters polls show that the global economy is expected to improve only slightly in 2013. New projections on unemployment in eurozone show that the jobless rate among member countries will hit a new peak at about 12 percent next year. The European Union’s autumn forecast on Wednesday said that unemployment would hit a new peak at 11.8 percent among the 17-nation EU in 2013 and go down slightly to... 

A man looking for job opportunities on newspapers in a shop in Naples, Italy. Newly-released figures show that Italy’s economy will shrink further in 2012 and 2013 as the country’s recession continues to take its toll. Italy’s National Institute for Statistics (Istat) said on Monday that gross domestic product (GDP) is expected to fall by 2.3 percent due to a decrease in domestic demand. According... 

Standard & Poor’s (S&P) Ratings Services has downgraded the credit ratings for three French banks, including BNP Paribas, citing growing risks facing the banks from potential prolongation of the eurozone recession. “In our view, the economic risks, under which French banks operate, are increasing, leaving French banks moderately more exposed to the potential of a more protracted... 

The Swiss Army is preparing contingency plans for violent unrest across Europe. A nation mostly famous for its banks, watches and chocolate fears it may face a massive influx of European refugees in the near future. One of the world’s richest nations openly expressed concerns over the possible outcome of Europe’s continuing financial troubles, and is currently conducting army exercises against... 

Rating agency Standard & Poor’s has downgraded Spain’s credit rating by two notches, warning that the deepening economic recession is limiting the government’s options. S&P warned that rising unemployment and harsh austerity measures are likely to intensify social unrest and cause further friction between Spain’s central and regional governments. “The downgrade...