Italy and Greece are working to cobble together interim governments to avoid bankruptcy as Europe's debt crisis rolls on.
The shocking news of a Greek debt referendum this week has prompted European leaders to hold an emergency meeting today ahead of the G20 summit in Cannes, France.
Greece revealed today that it is in more dire economic straits than envisioned when a €110 billion bailout deal was agreed to this summer, sparking concern that Europe’s debt crisis could deepen.
The German chancellor and Greek prime minister today gave speeches pushing their plan to solve Greece's economic crisis, just days before the German parliament votes on more bailout money.
Since last year's flotilla debacle killed nine Turkish activists, Israel has cultivated ties with Greece, offering the debt-ridden country generous military aid.
Prime Minister George Papandreou is faced with passing an unpopular austerity program so it can get the $17 billion it needs by July 15 to avoid default on Greek debt.
Germany and France reached an agreement that should see a desperately needed Greece bailout move forward.
Analysts say Moody's is looking at the worst-case scenario for Spain's struggling economy even though some economist say Spain shows some promising signs.
Greece passed a budget early Thursday with deep spending cuts, but investors will probably remain leery of lending to Greece and some of its indebted European peers.
Rome explosions at the Swiss and Chilean embassies today bear the hallmarks of Italian anarchists, who could be trying to take advantage of the country's fragile political situation, say experts.
In the wake of a string of parcel bombs in Greece and the Yemeni plot to send explosives to the US via air freight, Germany wants EU ministers to review air-cargo security measures.