Spain hit by downgrades amid Greek contagion fears

Today @ 07:27

Spain's economic woes deepened on Thursday as 16 of its banks and four regions were downgraded by Moody's, while statistics confirmed the country is still in recession, just as fears about a Greek euro-exit are running high.

Highlights

Euro fears rise as Greeks withdraw money from banks

16.05.12 @ 17:44

Greeks have withdrawn billions of euros from their banks in recent days, with the country's president warning of "panic" at the prospect of the country leaving the eurozone. Markets are equally jittery, pushing Spain closer to a bail-out.

EU parliament chief puts trust in Ukrainian PM

16.05.12 @ 17:42

EU-Ukraine diplomacy reached new heights of confusion on Wednesday, with an impromptu deal between the EU parliament President and the Ukrainian Prime Minister.

MEPs accuse commission of foul play on EU TV money

16.05.12 @ 09:29

MEPs and the European Commission are embroiled in a nasty dispute over what happened to €8.7 million originally intended for an EU-wide TV station.

European Commission should be EU government, says Germany

17.05.12 @ 09:01

The EU needs to become more integrated with a common finance policy and a central government, German finance minister Wolfgang Schaeuble has said. The UK leader is set to make similar comments on Thursday.

Merkel and Hollande want Greece to stay in euro

16.05.12 @ 09:29

France's newly elected president and the German Chancellor have said they want Greece to remain in the eurozone. But the IMF says an "orderly exit" is a real option.

Member states and MEPs agree battle lines on bank rules

15.05.12 @ 17:37

EU finance ministers have overcome British opposition on new capital rules for banks, setting the scene for talks with MEPs.

Focus

Malmstrom: Europe "too cowardly" to confront homophobia

15.05.12 @ 18:58

EU home affairs commissioner Malmstrom has said Europe is "too cowardly" to stand up to mounting homophobia.

Juncker slams Greek euro-exit 'propaganda'

15.05.12 @ 09:28

Eurogroup chief Jean-Claude Juncker on Monday lashed out at EU politicians talking "nonsense" about a Greek euro exit, and hinted at possible adjustments in the austerity programme if Greece forms a government.

EU ministers disagree on Ukraine boycott

15.05.12 @ 09:38

Poland and Sweden have questioned the value of a sports boycott on Ukraine, but Austria and Belgium back the idea, while others are waiting for new developments.

Spanish oil company sues Argentina

16.05.12 @ 09:28

The Spanish oil and gas giant Repsol-YPF filed a lawsuit against Argentina at a US district court in Manhattan on Tuesday for nationalising its majority-owned stake in the energy company YPF.

EU takes aim at Israeli settlement products

15.05.12 @ 09:22

EU foreign ministers have "warned" Israel they will take a tougher approach to exports originating from illegal settlements on Palestinian land.

Brinkmanship rhetoric hides cost of Greek euro exit

14.05.12 @ 17:00

Within the space of one week, EU politicians have begun talking in a matter-of-fact way about Greece's exit from the eurozone, but analysts say this would involve upheaval far beyond what the casual statements imply.