New Trouble for Euro in Portugal

Just weeks after European leaders tamped down a banking crisis in Cyprus, troubles in the euro zone have again reared their head, this time in Portugal. In an address to his beleaguered nation on Sunday, Prime Minister Pedro Passos Coelho warned that his government would be forced to cut spending more and that lives “will … Continue reading New Trouble for Euro in Portugal

EU in fresh trouble as budget summit faces collapse

The European Union looks set for fresh trouble this week as an extraordinary summit called to agree a long-term trillion-euro budget heads for an ugly showdown, possibly even failure. Already weakened by three years of economic crisis, the 27-nation bloc of half a billion people faces new trauma at the two-day summit starting Thursday after … Continue reading EU in fresh trouble as budget summit faces collapse