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Italy's new government announced by PM Mario Monti

The new cabinet is made up chiefly of experts, not politicians.

Eurofight: France and Germany bicker over bailout

ATHENS — Contagion — meaning collateral damage in the form of unemployment and economic slowdown — is not just a euro zone problem. It’s a worldwide crisis. 

Europe: the crisis continues

New technocrat Italian and Greek Prime Ministers find being put in charge is easier than actually governing
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Italian politician Umberto Bossi (pictured last week in the Italian parliament) has a bunt message to new Prime Minister Mario Monti is, Call me if you want to talk ... but I make no promises. (FILIPPO MONTEFORTE/AFP/Getty Images)

Just when you thought it was safe to go back in the water:

The technocrats put in charge of Italy and Greece last week are discovering that their presence hasn't calmed either the markets or the politicians whom they are supposed to mold into national unity governments.


Is a German 'Fourth Reich' emerging?

Berlin — As a German arrives in Greece to help with the bailout, journalists accuse him of setting up "a new Gestapo headquarters." 

Angela Merkel: Europe is facing its worst crisis since World War 2

"The historic challenge of our generation is to show we can use the crisis for a better future," Merkel told a party conference.

Britain, jobs, ouch!!!!!!!!

Those who think that cutting government spending is the only way to deal with national debts and deficits should take a close look at the employment picture in austerity Britain.
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Britain's architect of austerity, Chancellor of the Exchequer, George Osborne, says he is pleased that the economy grew by 0.5 percent in the third quarter ... he has had less to say on the fact that the unemployment rate is at a 17 year high and is expected by private employers to grow over the next year. (SIMON DAWSON/AFP/Getty Images)
Britain's austerity program is putting people of all ages out of work.

European democracy falls victim to euro zone crisis

ATHENS — Unelected technocrats take over leadership in Greece and Italy, further removing major decisions from popular will.  

Berlusconi resigns: Italian prime minister steps down

Italian Prime Minister Silvio Berlusconi stepped down after parliament voted to pass debt reforms, the Associated Press reported.

Berlusconi expected to resign Saturday

The Italian Chamber of Deputies is expected to meet in a special session Saturday to vote on the austerity measures and pave the way for Prime Minister Silvio Berlusconi's exit.

IMF warns advanced economies could dip back into recession

The International Monetary Fund warned countries with advanced economies could dip back into recession if policies to stimulate growth are not made with greater urgency, Reuters reported.
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