European Debt, Europe Debt | featured news

Report shows that, so far, China's economy has not been hurt by Europe's debt problems.

U.S. stocks edged higher, bolstered by U.S. Federal Reserve Chairman Ben Bernanke's comments that the economy is unlikely to slide into a second recession, but worries about European finances persisted after Fitch Ratings warned that the U.K. faces budget challenges.

European Union finance ministers tried to broaden efforts to contain the region's debt crisis on Tuesday and Spanish public sector workers protested over government cutbacks.

Stocks plummeted across the Asia-Pacific region on Monday and the euro hit fresh four-year lows on renewed fears that the European debt crisis may be spreading.

Shares rose in Europe and on Wall Street as markets calmed. Gold, however, hit a record amid efforts to defend European countries from sovereign default.

Greek unions announced on Wednesday that they would stage a 24-hour nationwide strike on May 20, the second major protest against tough austerity measures pledged in exchange for billions of euros in aid.

Spain will cut state employees' wages and slash investment spending, sparking immediate union anger with a bid to reassure markets that it can get its budget deficit under control and detain the spread of the European debt ...