Crisis, Europe Debt Crisis | featured news

Italian Senate approves austerity package

Italian Senate approves austerity package

The Italian austerity budget worth nearly 48 billion euros was approved by the upper house of parliament on Thursday, overcoming its first parliamentary hurdle.

 

Greece Secures Second Bailout

Greece Secures Second Bailout

Greece has secured a second bailout from the European Union and the International Monetary Fund, and it too will be on the order of €110 billion, Prime Minister George Papandreou said.

 

Debt Ratings Are Lowered for Portugal and Greece

Debt Ratings Are Lowered for Portugal and Greece

The move by Standard & Poor’s on Tuesday deepened Europe’s debt crisis, and investors sold off government bonds amid fears of a default.

 

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