Europe, Europe Debt | featured news

Moody's slashed Greece's credit rating by three notches on Monday, raising the specter that the distressed euro zone sovereign may be forced to restructure its debt, perhaps even before 2013.

Irish Prime Minister Brian Cowen's surprise plan to reshuffle his cabinet weeks before a general election risked backfiring badly on Thursday with coalition partners and backbenchers fuming over the move.

Prime Minister Brian Cowen said Sunday that he won’t resign despite criticism of his management of the country’s its deficit and the international bailout.

Spain's beloved Christmas lottery sprinkled euro2.3 billion ($3 billion) in holiday cheer across the country Wednesday, winnings eagerly welcomed by a nation facing 20 percent unemployment....

If we did not find ourselves smack in the middle of the Holiday season, I’d probably be talking about how the bull camp’s momentum appears to be waning and that we should be bracing for a meaningful pullback in response to the tiring trend, the overbought condition, and the overly optimistic sentiment readings. And while these issues are indeed present, it appears that the holiday spirit and the corresponding portfolio allocations may be the primary driver to what I will loosely term the current trend.

Portugal was put on notice on Tuesday that its credit rating could be cut and fellow euro zone debtor Spain had to pay more to issue new debt, suggesting the currency bloc's crisis will rage unabated in 2011.

Ireland's parliament approved a multi-billion euro EU/IMF bailout package on Wednesday in the face of opposition threats to renegotiate the deal to force losses on some senior bondholders in Irish banks.

The Belgian finance minister and International Monetary Fund suggested that the scope of measures to stabilize the euro should be strengthened.

Ireland's international bailout relieved investors Monday but outraged many across the country who find that a requirement to raid state pension ...

The budget plan for 2011 is aimed at reassuring nervous lenders that the country can avoid a bailout by meeting its deficit-cutting targets.