Stock markets are rallying in expectation that European governments are finally committed to a comprehensive solution to their spreading debt crisis. Two of the most reluctant countries - Germany and Finland - are expected to vote this week for expan...
Finland has thrown an obstacle in the path of Greece's new $158 billion international bailout, demanding that it get collateral from Athens to secure its investment in the deal. Barely a month ago, the 17 nations that use the common euro currency agr...
Stock markets rallied Friday after European Union leaders agreed on a new bailout for Greece, provided that Athens commits to more austerity measures. But the Greek deal fails to address fundamental problems threatening the future of the 17-member eu...
Greek Prime Minister George Papandreou is now pushing for approval of unpopular austerity measures that are aimed at securing emergency international bailout funds to keep the country from defaulting on its debt. Earlier Wednesday, Papandreou survive...
The Greek government is moving toward restructuring its debt and could soon win approval for another $85 billion or more in international financing. News agencies reported on Tuesday that a year after Athens arranged a $158 billion bailout, the debt-...
Portugal has become the third European economy, after Greece and Ireland, to request a bailout from the European Commission. Now there are fears that Spain could be next. It was the moment the Portuguese(葡萄牙) people - and European investors - h...
Storm clouds have been brewing over Europe and not even the biggest and most prudent economies are exempt from their threat. Europe's decade-old currency, the euro, is in crisis with some eurozone members mired in massive debt and others having to pr...
Some Republicans in the U.S. Senate say they will block a plan to rescue the country's three major auto companies. Meanwhile, new claims for unemployment benefits reached their highest level in 26 years. Sen. Richard Shelby, center, accompanied by,...
Representatives of the White House and the Congress say they are making progress in negotiations on rescuing the embattled U.S. auto industry. Meanwhile, stock prices in New York have ended a two-day surge. U.S. Senate Majority Leader Harry Reid say...
American and international financial markets are welcoming word that the U.S. government is taking over two troubled institutions that back roughly half the country's home mortgages. VOA's Paula Wolfson reports the Bush administration says it took t...