Paul AmesOctober 27, 2012 15:39

BRUSSELS — As if European Union leaders didn't have enough headaches from the perilous state of their national budgets, they are now poised to further strain the EU's fragile unity with a battle over the bloc's own finances. Britain's prime minister is brandishing a veto, Germany's chancellor is threatening to walk out and Poland's premier is blasting his partners as "hypocrites." And that's before the talks have even started.

EU goes back to bland

Paul AmesOctober 19, 2012 11:25

BRUSSELS — After three years of last-gasp, make-or-break crisis meetings to save the euro, it's perhaps a positive sign that the latest European summit was so dull. Leaders of the 27 European Union countries wrangled into the small hours of Friday morning over the minutiae of a plan to tighten supervision of Europe's banks, finally stitching together a deal at around 3 a.m.

IMF warns over euro crisis as Greece gives Merkel hot welcome

Paul AmesOctober 9, 2012 12:27

BRUSSELS — Hours after the IMF appealed to Europe to get its act together or drag down the world economy, European Union countries wrangled Tuesday over calls for a financial transaction tax and an EU banking union in a spat that underscored divisions over their response to the euro zone crisis.

Angela Merkel in Athens: German chancellor greeted by protests during Greece visit (VIDEO)

Jessica PhelanOctober 9, 2012 08:55

Chancellor Merkel is in Greece for the first time in five years, on a trip that is designed to show Germany's support for its struggling euro zone neighbor.

Jessica PhelanOctober 9, 2012 06:59

Chatter: Ms Merkel goes to Athens

Protesters await the German chancellor's arrival in Greece, Mexico claims a major victory in its war on drugs, and some loon prepares to show us what happens to the human body when it plummets to earth from space.

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Graphic. (Antler Agency/GlobalPost)

Euro zone launches rescue fund

Paul AmesOctober 8, 2012 20:52

BRUSSELS — Euro zone finance ministers activated a $650 billion firewall fund Monday, then promptly concurred that the country seen as the mostly likely candidate for a rescue didn't need the bailout money.

Embattled Greeks lash out at migrants

James AngelosOctober 4, 2012 06:21

ATHENS — Hundreds of thousands of migrants have crossed into Greece only to find themselves stranded by a dismal intersection of two unfolding crises. Brought to its knees by half a decade of catastrophic economic decline and political upheaval, Greece's role as prime destination for migrants seeking to enter the European Union is fuelling a wave of racism and violence.

Euro zone unemployment hits record high of 11.4 percent

Lizzy TomeiOctober 1, 2012 11:44

In the past year, the rate of unemployment has increased in 20 euro zone countries and decreased in six.

Spain says banks need $77 billion to survive

Paul AmesSeptember 28, 2012 16:18

BRUSSELS — European governments struggling to clamber from the euro crisis have issued a series of mind-numbing figures this week. The latest from Spain on Friday revealed that its cash-strapped banks need $77 billion to stay afloat, the same day France announced a "combat budget" that bucks Europe’s austerity trend by raising taxes by $26 billion. However, those and other painful initiatives to cut debt and deficits may be undermined by a decision by Germany, Finland and the Netherlands.

Spain risks further unrest with austerity budget

Paul AmesSeptember 27, 2012 16:58

BRUSSELS — The Spanish government announced a new austerity budget Thursday that cuts $51.3 billion from ministerial spending but drops an unpopular pension freeze as it seeks to reassure markets and creditors while appeasing a mounting wave of public anger. Markets cautiously welcomed the news and European authorities were quick to praise economic reforms announced with the spending cuts.