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EUROPEAN COMMISSION

Ukraine Can Use EU Aid to Pay Off Russian Gas Debt – European Commission

Ukraine will be able to use the EU’s financial assistance to pay off its debt for Russian gas, a spokesman for the European Commission on economic and monetary affairs said Tuesday.

Debt load of PIIGS countries far heavier now than four years ago

As the euro zone's weakest members crawl out of their longest recession in modern history, their prospects of recovery are weighed down by a crushing mountain of debt far heavier than before four years of financial crisis.

Greece says can't take any more austerity, will not be 'blackmailed'

Greece's president used an annual commemoration of the country's stand against fascism in World War Two on Monday to warn that Athens would not yield to pressure from foreign lenders to impose more austerity.

Greeks 40% poorer in 5 years, incomes down 30%

Greeks are nearly 40 percent poorer than 5 years ago, with disposable incomes down by a third since the country entered into recession. Financial struggles linger after the 2008 crisis,and the government austerity measures haven't yielded promised growth.

How the Troika got €220m in fees from the Irish taxpayer

The Irish taxpayer has paid more than €220m in fees to the EU and IMF – on top of massive interest payments for our multibillion-euro bailout.

Starvation & poverty result from Greek bailout

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.

'Starvation & poverty result from Greek bailouts'

Former British MP condemns media ban on Iranian channels

Speaking on Press TV’s weekly debate program Comment, Conway said, “I just wonder as someone who’s been involved in politics for 40 years of my life, how you can preach about freedom of speech, if you don’t encourage it”.

Banks accused of colluding to protect Euro credit derivatives revenue

Antitrust regulators in Europe charged 13 large banks Monday with colluding to prevent new competitors from entering the credit derivatives market.

Greece given more time to meet targets

The deadline international lenders have set for Greece to meet its debt-cutting targets has reportedly been extended by two years.

EU's Rehn: Latvia could join euro zone in 2014

The small Baltic state of Latvia could become the 18th member of the euro zone in 2014 if it continues on its current economic course, EU Economic and Monetary Affairs Commissioner Olli Rehn said on Thursday.

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