Europe

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Euro Crisis Rocking Global Corporations

Weak economy plus austerity equals 'vicious circle,' says economist

(Newser) - As the EU economic crisis spirals ever downward , corporations are in fact looking increasingly like people, blaming the continent's troubles for their plummeting earnings, reports the Wall Street Journal . And with increasing austerity programs kicking in across Europe in 2013, analysts think money is just getting tighter. "We...

More US Firms Not Hiring— Thanks to Europe?

Just 23% of firms plan hiring in next 6 months, down from 39% in April

(Newser) - US firms are getting nervous about the transatlantic effects of Europe's debt crisis—and fewer of them foresee hiring anytime soon. In early April, 39% of US companies polled planned to hire sometime within the next six months; by June that figure was down to 23%, the National Association...

Manufacturing Orders Slump in Asia, Plunge in Europe

Leading indicator reveals Western economies may be worse than thought

(Newser) - Purchasing Managers' Index reports from Asia and Europe—a critical economic indicator—showed big drops in June, in a strong sign that the economies of Europe and the US could be weaker than thought, the Guardian . Despite European leaders agreeing on a bank bailout scheme last week, Europe's PMI...

Desperate Europeans Try to Sell Kidneys, Lungs

Lungs being offered for as much as $250K

(Newser) - As Europeans grapple with economic misery, illegal organ sales are on the rise, with desperate sellers willing to part with kidneys, corneas, bone marrow, and even lungs. "When you need to put food on the table, selling a kidney doesn’t seem like much of a sacrifice," says...

Europe Stocks Slump Ahead of EU Summit

Plenty of gloom and doom continuing for euro and eurozone

(Newser) - European stocks and the euro all fell this morning, as investors remain skeptical that this week's EU summit is going to accomplish much of anything, reports the Wall Street Journal . The euro fell to $1.2490 from $1.2574 last Friday, while indexes were down across the continent, with...

Europe Court: Sick Workers Can Retake Vacations

It shouldn't count as sick leave, says panel

(Newser) - Unemployment may be on the rise in Spain and throughout Europe, but those lucky enough to have jobs can enjoy this ruling: Workers who get sick on vacation are entitled to take a new vacation, reports the New York Times . The EU court ruled in favor of Spanish department store...

Central Banks Steel for Greek Vote

G20 ready for 'coordinated action'

(Newser) - Central banks across the world are preparing to take decisive action if needed after Greece's election on Sunday, which could rattle financial markets. "The central banks are preparing for coordinated action to provide liquidity," a G20 aide tells Reuters . Britain says it will inject its economy with...

Cave Art Dates Back to Neanderthals
 Cave Art 
 Dates Back 
 to Neanderthals 
study says
Jun 14, 2012 5:30 PM CDT

Cave Art Dates Back to Neanderthals

Earliest work more than 40K years old

(Newser) - Our ancestors were artists far earlier than experts had believed, new dating techniques reveal. Paintings in El Castillo cave in northwestern Spain are at least 40,800 years old—the oldest ever found, and ancient enough that Neanderthals could have painted them. That would come as a surprise, since experts...

Obama: 'Private Sector Is Doing Fine'

Republicans pounce; Obama says Congress has 'no excuse' to dither

(Newser) - President Obama used a White House press conference today to chide Republicans for blocking his jobs proposals—"If Congress decides not do anything about all this because it’s an election year, they should explain to the American people why"—and to urge European leaders (in what MarketWatch...

Europe Finally Gets It: Austerity Isn't the Answer

Paul Krugman: Voters clearly 'wiser' than their leaders

(Newser) - Paul Krugman is applauding France and Greece for the results of their elections : "Time is clearly running out for the strategy of recovery through austerity—and that’s a good thing," writes the longtime critic of austerity measures in the New York Times . Austerity measures depend on a...

Organs From US Troops Save Lives in Europe

Donations from mortally wounded troops have helped 140

(Newser) - Since 2006, organ donations from mortally wounded US troops have saved around 140 European lives, reports USA Today . The families of 36 American servicemembers who were declared brain dead from combat in Iraq and Afghanistan agreed to donate their hearts, kidneys, lungs, livers, and pancreases to patients in Europe. It'...

&#39;Fairy Tale&#39; of Austerity Is Finally Dead
'Fairy Tale' of Austerity
Is Finally Dead
paul krugman
Apr 27, 2012 12:50 PM CDT

'Fairy Tale' of Austerity Is Finally Dead

Paul Krugman: Europe realizing those policies made things worse

(Newser) - Paul Krugman doesn't use the words "I told you so," but he does pronounce the notion that austerity measures would fire up Europe's economy good and dead. European policy-makers had the misguided idea—one embraced by Republicans in the US—that cutting back on spending would...

4 Things Obama Must Do to Win

 4 Things 
 Obama 
 Must Do 
 to Win 
robert reich
Apr 24, 2012 7:55 PM CDT

4 Things Obama Must Do to Win

Robert Reich: It's time for a clear economic strategy

(Newser) - President Obama's economic message is that "we're on the right track" and we should give him more time. But if the economy "stalls"—about a 50-50 chance—the message won't hold up, writes Robert Reich in the Guardian . It's time for Obama to...

Europe's Woeful Trend: 'Suicide by Economic Crisis'

They're rising fast in Greece, Italy, Ireland

(Newser) - When a 77-year-old Greek retiree committed a very public suicide over his mounting debts, he became a face of Europe's financial crisis. But he is far from alone, reports the New York Times . Suicides, especially among men, are spiking in hard-hit nations such as Greece, Ireland, and Italy, with...

Eurozone Economy Shrinks
 Eurozone Economy Shrinks 
Feb 15, 2012 9:11 AM CST

Eurozone Economy Shrinks

Nine of 17 member states post a fall

(Newser) - For the first time since 2009, the eurozone economy contracted last quarter. The fourth quarter of 2011 saw the GDP shrink 0.3% compared to the third quarter; the last quarterly contraction occurred during the second quarter of 2009 when the GDP dropped 0.2%. Meanwhile, the GDP grew just...

300 Dead in European Cold Snap

Ukraine, Bosnia, Poland take the brunt of it

(Newser) - Now in its second week, a European cold snap has claimed more than 300 lives and sent hundreds more to hospitals, the Telegraph and BBC report. Some temperatures have plunged as low as -40 Fahrenheit. Ukraine still has it worst with 131 officially dead—most of them homeless—and 1,...

Death Toll Rises in European Cold Snap

Europeans grapple with worst winter in years

(Newser) - While much of the US basks in unseasonably warmish weather, Europe continues to be locked in a deep freeze that's getting even colder. More than 100 people have died in Ukraine, Italy is suffering its coldest winter in 27 years, and conditions are so severe in Serbia that thousands...

11K Serbians Trapped by Snow
 11K Serbians Trapped by Snow 
EUROPE FREEZES
Feb 2, 2012 7:50 AM CST

11K Serbians Trapped by Snow

As death toll from Europe's week-long cold snap rises to 114

(Newser) - Eastern Europe's week-long cold snap shows no sign of relenting, with increasingly tragic consequences: The death toll has risen to 114, and some 11,000 Serbians living in remote villages are trapped, reports the AP . Heavy snow and blizzards have made the roads impassable, stranding those living in some...

58 Dead in European Cold Snap
 58 Dead in European Cold Snap 
Jan 31, 2012 10:46 AM CST

58 Dead in European Cold Snap

Ukraine sees 30 die in recent days

(Newser) - Thirty people, most of them homeless, have died of hypothermia in recent days in Ukraine, part of a surge of deaths across eastern Europe as the region grapples with an unusually severe cold spell. In all, at least 58 people have died from the cold in Europe over the last...

Behind Europe's Economic Mess: 'Willful Amnesia'

Austerity measures violate basic economic tenets: Paul Krugman

(Newser) - Europe has been lauded for its commitment to austerity measures as a means of restoring its economies. But a quick look at the state of those economies reaffirms what any economist should already have known, writes Paul Krugman in the New York Times : The effort is backfiring. Krugman explains that...

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