Greece's parliament passes a controversial reform bill a few hours ahead of German Finance Minister Wolfgang Schäuble's visit to Athens. Du...
Greece's parliament passes a controversial reform bill a few hours ahead of German Finance Minister Wolfgang Schäuble's visit to Athens. Duration: 00:33 Less
Workers at the Lisbon metro went on strike Thursday and businesses came to a standstill across Portugal to protest government austerity meas...
Workers at the Lisbon metro went on strike Thursday and businesses came to a standstill across Portugal to protest government austerity measures aimed at slashing the deficit and meeting the terms of an international bailout. Duration: 01:03. Less
US President Obama has praised the Greek government's strict austerity measures and structural reforms and said the country must now start c...
US President Obama has praised the Greek government's strict austerity measures and structural reforms and said the country must now start creating growth....http://www.euronews.net/ Less
Front Page with Amjad Warraich (May30-2013)
Public transport crawled to a standstill and flights were grounded in Portugal Thursday as workers staged their fourth general strike in two...
Public transport crawled to a standstill and flights were grounded in Portugal Thursday as workers staged their fourth general strike in two years against austerity measures adopted in return for a massive international bailout. Duration: 00:46 Less
Spain’s eastern community of Valencia has been forced to shut down its public television and radio service due to austerity measures impos...
Spain’s eastern community of Valencia has been forced to shut down its public television and radio service due to austerity measures imposed by the central government. A court prompted the regional television and radio broadcaster, Radio Televisio Valenciana (RTVV), to announce its closure. RTVV previously intended to fire 1,000 of its 1,700 employees in an effort to keep running the company but the court rejected the decision as illegal. RTVV broadcasts Radio 9 station and a leading television channel called Canal 9 in the region. Valencia is one of the 17 regional authorities on which tough budget targets has been imposed by the central government. Less
Tens of thousands of Spaniards have staged another demonstration in the capital, Madrid, to voice their outrage at the government’s auster...
Tens of thousands of Spaniards have staged another demonstration in the capital, Madrid, to voice their outrage at the government’s austerity measures and new anti-protest law.Various organizations, social groups and unions took to the streets in Madrid to oppose a new bill, known as Citizen Security, which has been drafted by Spain’s ruling People’s Party to restrict public protests. The draft law will introduce heavy fines for those who participate in unauthorized protests across the country if it comes into force. Izquierda Plural, one of Spain’s main opposition parties, has described the bill as a "kick in the teeth to democracy." However, Spanish Prime Minister Mariano Rajoy claims the proposed law is to protect citizens and not to silence protesters. People in Spain are also angry at more budget cuts, arguing that austerity measures without growth have led to steady job losses in recent years. Battered by the global fina Less
It was a tense two hour standoff in the Portuguese capital. Uniformed police formed a barrier around the parliament building to keep out mor...
It was a tense two hour standoff in the Portuguese capital. Uniformed police formed a barrier around the parliament building to keep out more than 10,000 protesters. But these demonstrators were themselves police. Dozens of them pushed up against the police line but failed to break through. These off-duty police officers and other security officials are angry about cuts to their pay, pensions and welfare benefits. The move is part of the government's cost-cutting austerity reforms to reduce spending. (SOUNDBITE) (English) PRESIDENT OF THE NATIONAL POLICE UNION, ARMANDO FERREIRA, SAYING: "And these cuts are very high, in a year it's nearly 5000 Euros less in the base salary of a police officer in Portugal and police officers, they are tired, and very, very angry with the government because the government is treating them as normal public servants and not as police officers." The government agreed to the measures when Portugal took a $108 billion bail Less
Thousands of Greeks marked May Day by demonstrating against government reforms which they say have hurt workers through layoffs and wage cut...
Thousands of Greeks marked May Day by demonstrating against government reforms which they say have hurt workers through layoffs and wage cuts. At a protest organised by the Communist Party outside the parliament building in central Athens, unemployed building worker Albert Disai said the government’s labour law changes have devastated workers’ rights: “They held out the hope that with these measures things would get better, but the only thing I see is darkness.”The Greek Communist Party Secretary General Dimitris Koutsoubas railed against the government and Brussels saying: “What we need right now is a strong opposition, that will open the road (for workers’ rights) and that can smash the monopolies of Europe, and allow the people’s voice to rule.”Unemployment in Greece is 26 percent of the workforce, twice the eurozone average.The government is vowing to concentrate on creating jobs after four years of spending cuts which were needed to avoid the country going bankrupt. Less
CBS MoneyWatch Editor-At-Large Jill Schlesinger speaks to Russ Mitchell about the continuing violence in Greece over austerity measures and ...
CBS MoneyWatch Editor-At-Large Jill Schlesinger speaks to Russ Mitchell about the continuing violence in Greece over austerity measures and the impact on the U.S. economy. Less
Clashes in central Madrid between police and protesters, who are denouncing a bill that will toughen penalties against demonstrations. Oppon...
Clashes in central Madrid between police and protesters, who are denouncing a bill that will toughen penalties against demonstrations. Opponents say the bill is a crackdown against demonstrations that have rocked Spain since the government began implementnig unpopular austerity measures. (SOUNDBITE) (Spanish) AMANDA GARCIA, UNEMPLOYED, SAYING: "What they want with this law is to shut us up so we can't say what's happening with the health system, with the education sector, with unemployment and what happens with all the useless politicians in this country." Protesters vented their anger at police, by throwing bottles, and hitting police cars with sticks. Firecrackers were set off, and rubber bullets were fired. At least 18 people were injured. The security bill is seeking to fine unauthorized protests up to 600,000 euros if they turn violent. Protesters who cover their faces could be fined up to 30,000 euros. Those opposing the measure say it vi Less
What had been a largely peaceful protest by tens of thousands of Spaniards erupts into violence on the streets of Madrid. Police, also out i...
What had been a largely peaceful protest by tens of thousands of Spaniards erupts into violence on the streets of Madrid. Police, also out in force, fire rubber bullets as protesters hurl rocks and bottles. A central government official said 19 protesters and 50 police officers were hurt. The violence came after a mass rally against European Union-imposed austerity measures. The Organisation for Economic Co-operation and Development says they're hitting the poor in Spain more than any other member country. The march brought demonstrators out onto the streets for causes from employment to housing, health, education and poverty. Spain tentatively came out of recession in the second half of last year. Despite unemployment has soared following labour reforms that cut the cost of hiring and firing workers. A hoped-for jobs boost has yet to materialise. Less
For more than a year, cleaning women in Greece have been the symbol of the injustices of austerity. They started to protest after they lost ...
For more than a year, cleaning women in Greece have been the symbol of the injustices of austerity. They started to protest after they lost their jobs due to budget cuts deemed necessary by the Finance Ministry to meet the conditions for the 240 billion euro EU-IMF bailout plan. For months they camped outside the finance ministry’s office demanding their jobs back.And then they voted for Syriza, the party which promised to re-hire them. It was a promise to right the wrongs that one cleaning woman, Sophia Tsagaropoulou, feels many Greeks have endured: “For five years, people have paid for a crisis they were not responsible for. During this crisis people who were earning lots of money continued earning lots of money, and even earned more. But the middle and lower class were not to blame for everything, but they are paying for it all. We were plunged from paradise into a living hell.” But working out how to clean up the “living hell” produced by austerity measures will be a tall orde Less
As the economic situation is aggravating in Spain, the government is thinking of privatizing national lands, prairies and very fertile swath...
As the economic situation is aggravating in Spain, the government is thinking of privatizing national lands, prairies and very fertile swathes of lands to earn more money to handle the miserable economic crisis. Less
Greece to End Recession in 2014. Eurozone Inflation Hits 0.7%. E.U. and U.S. Back to Bargaining. Ukraine Saved from Bankruptcy. South Africa...
Greece to End Recession in 2014. Eurozone Inflation Hits 0.7%. E.U. and U.S. Back to Bargaining. Ukraine Saved from Bankruptcy. South Africa Hit by Cyber-Fraud. Less
One FEMEN activist interrupted a press conference by Mario Draghi when she suddenly jumped on the table and dumped confetti and flyers on Dr...
One FEMEN activist interrupted a press conference by Mario Draghi when she suddenly jumped on the table and dumped confetti and flyers on Draghi's head. Security quickly apprehended the woman, but not before she was finished with her protest. Less
Patience with the government's austerity plan is running thin in Portugal with banners reading 'Enough' and 'Government Out'.In their fourth...
Patience with the government's austerity plan is running thin in Portugal with banners reading 'Enough' and 'Government Out'.In their fourth general strike in two years, trade union leaders hailed the massive turnout of 5 million, though no official figures were released.Workers are angry over new austerity measures being imposed....http://www.euronews.net/ Less
In Portugal around 50 people protested in the parliament's public gallery calling for the government to resign. The country has been plagued...
In Portugal around 50 people protested in the parliament's public gallery calling for the government to resign. The country has been plagued by a 10-day-long political crisis triggered by ministers' resignations and a call for early elections amid biting austerity measures from the country's 78 billion euro bailout.http://www.euronews.net/ Less
Greece on Tuesday braced for a fourth general strike of the year against fresh austerity measures the government is imposing in order to kee...
Greece on Tuesday braced for a fourth general strike of the year against fresh austerity measures the government is imposing in order to keep receiving EU-IMF loans. Duration: 00:58. Less
After having forced through further austerity measures Greece is set to receive its next bailout instalment. The bailout comes at the expens...
After having forced through further austerity measures Greece is set to receive its next bailout instalment. The bailout comes at the expense of thousands of public sector jobs. A rescue loan of 4 billion euros will come from the eurozone and European central banks. The IMF is also expected stump up a further 1.8 billion. To get the loans, Athens will have to fire 4000 civil servants by the end of the year. Greece has been relying on rescue funds for over three years now, but as financial expert Patrick Young explains, it's done little to cure the country's financial woes. Less
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