Europe, Europe Debt | featured news

Stocks fell sharply Monday morning with new worries about Europe. A collection of worrying news out of Europe sent stocks sharply lower on Monday. The Dutch government collapsed Monday, a day after French President Nicolas Sarkozy lost the first round of that country's presidential election to a Socialist candidate. A new report showed that European government debt continues to pile up despite severe budget cuts, which have led to unrest and political upheaval across the continent.

The European Union has no plans to activate its emergency funds to recapitalize Spanish bank and Spain had no need to appeal for funds to do so, the European Commission said on Thursday.

Italian Prime Minister Mario Monti declared on Wednesday that reviving economic growth now had to take priority over belt tightening that could plunge the country deeper into recession.

Just when we thought the euro crisis had subsided for a bit, Spain is bursting back up as a trouble spot. On Wednesday, Prime Minister Mariano Rajoy said the country is “facing an economic situation of extreme difficulty.” Spain is struggling to borrow money and can’t hit its deficit targets.

China is keen to contribute to a fund to bail out the euro zone, its trade minister said, underscoring the Asian powerhouse's growing interest in playing a bigger role in the global economy as its financial strength grows.

Greece has successfully pushed through a deal to lower its debt burden and avoid defaulting on its outstanding bonds in the near future.

Decision day for the Greek debt crisis is drawing near, and insiders are predicting that if things go awry it could cost the world economy $1 trillion.

The German parliament approved a second, euro130 billion ($173 billion) loan package for Greece on Monday after Chancellor Angela Merkel warned lawmakers that it would be irresponsible to abandon the country to bankruptcy.

Fitch cut Greece's long-term ratings on Wednesday to its lowest rating above a default, becoming the first ratings agency to make the widely expected downgrade after the country announced a bond exchange plan to ease its massive debt burden.

Eurozone finance ministers sealed a deal Tuesday morning for a second bailout for Greece, including 130 billion euros or $173 billion in new financing.