Black economy clouds Spain's recovery from crisis

Madrid (AFP) - Many of Spain's five million unemployed dream of finding a steady job in the economic recovery vaunted by the government -- but a legion of undeclared workers still scrape by cash-in-hand.

Eurozone Economy Grows for 22nd Straight Month, Report Shows

PARIS — The eurozone economy expanded for a 22nd consecutive month in April, a private sector report showed on Thursday, but the modest pace of growth disappointed some analysts looking for more vigor resulting from the European Central Bank’s bond-buying program.

PM Valls urges Europe to respect France, and its budget

(Reuters) - French Prime Minister Manuel Valls said on Saturday that it is up to France to decide on its budget and that Paris should be treated with respect by its European partners.

Tax burden on wages in rich countries rose again in 2013: OECD

(Reuters) - Taxes on wages rose across industrialized countries last year, as governments sought to reduce budget deficits blown out by efforts to tackle years of economic weakness following the financial crash.

Germany's Schulz details plans for EU Commission presidency bid

(Reuters) - European Parliament President Martin Schulz, a leading candidate to become the next president of the European Commission, laid out his campaign proposals on Thursday, saying it was essential to restore citizens' trust in the European Union.

Euro zone has long way to go in climb out of crisis: ECB's Mersch

(Reuters) - The euro zone is early on its climb out of economic crisis but it is on the right track, ECB Executive Board member Yves Mersch said on Friday.

Don't blame Europe, stick with reform: Danish PM

COPENHAGEN (Reuters) - Denmark's center-left prime minister, accused by her left-wing parliamentary backers of veering too far to the right, said on Friday the country had got through the worst of its economic crisis and should persevere with unpopular reforms.

Greece TV: Samaras in crisis talks with allies

The Greek Prime Minister, Antonis Samaras, is holding crisis talks with coalition allies over his decision to shut down the national broadcaster.

Amid financial crisis, Cyprus convicts offer help

NICOSIA: With Cyprus' economy falling apart, even those behind prison bars are pulling together to help people in need.

The euro crisis no one is talking about: France is in free fall

FORTUNE -- Given investors' confidence in its sovereign debt, and its image as Germany's principal partner in the sturdy, sensible "northern" eurozone, you'd think that France endures as the co-guardian of the endangered single currency.

Euro zone crisis batters holiday sales prospects

(Reuters) - Shoppers in euro zone nations battered by years of recession and crisis are on the hunt for bargains, delaying their purchases until the last minute, or simply not buying at all as post-Christmas sales get underway.

EU budget summit ends without deal

The Brussels summit has ended without agreement on the 27-strong union's next seven-year budget.

German government cuts 2013 growth forecast

BERLIN (AP) — Europe's debt crisis and waning economic growth around the world, particularly in emerging markets, prompted the German government to cut its forecast for growth next year.

Economic Crisis Now an Olympic One

The economic crisis hitting Europe's most troubled nations hasn't spared their Olympic performance.

Euro zone crisis: Spain's leader could learn some lessons from Portugal

MADRID/LISBON: Spanish Prime Minister Mariano Rajoy could learn some lessons about communication from neighbouring Portugal as he struggles to restore confidence in Madrid's public finances and avoid an international bailout.

Spain faces budget risks despite looser target: document

BRUSSELS (Reuters) - Looser budget deficit targets for Spain may still prove difficult to reach, according to an EU document that demands the country be subjected to three-monthly checks, a move that will tighten supervision of the euro zone's fourth-largest economy.

Germany to Europe: Don't criticize us on eurocrisis leadership

The euro crisis: It sounds like an arcane finance story. But as Germany sets the tone and the rules, the crisis has great meaning for Europe's future.

Spain planning to breach EU budget targets, warns prime minister Mariano Rajoy

Mariano Rajoy, prime minister of Spain, said the budget deficit would be 5.8pc of GDP in 2012 - more than 30pc higher than the 4.4pc target agreed by Brussels.

Exodus of Workers From Continent Reverses Old Patterns

Soon after Spain's real-estate bust put Andrés Velarde and María Palencia out of work, the young architects gathered their drafting materials and moved 5,000 miles to Brazil—drawn by a hope, but no promise, of employment.

Mafia now "Italy's No.1 bank" as crisis bites: report

ROME (Reuters) - Organized crime has tightened its grip on the Italian economy during the economic crisis, making the Mafia the country's biggest "bank" and squeezing the life out of thousands of small firms, according to a report on Tuesday.