Spain public debt has climbed to record 92.2 percent of the country’s gross domestic product (GDP) for the second quarter of this year amid deteriorating financial woes. The Bank of Spain announced on Friday that the Spanish debt for the period between April and June surpassed the government’s year-end target of 91.4 percent of GDP, reaching the unprecedented 92.2-percent level. This is while... 

Italians receive a free meal at a soup kitchen in Rome. The number of Italians living in absolute and relative poverty soared in 2012 with families in southern Italy hit the hardest, Italy’s national statistics office says in a report. The Wednesday report, citing a study conducted by ISTAT, revealed that about 4.8 million people, or 8 percent of the population, are grappling with absolute poverty,...