Europe's conservative political leaders on Thursday warned of dire consequences if an 11th-hour EU summit failed to save the euro from the crush of crippling state debts.
With the 17-nation eurozone's fate hanging in the balance, German Chancellor Angela Merkel and French President Nicolas Sarkozy told a gathering of the center-right European People's Party that they needed to agree to tougher rules on national budgets. Read More
With Italy sinking rapidly into financial chaos, the eurozone's 17 finance ministers scrambled Tuesday to find enough money to give their rescue fund a veneer of credibility and the markets some reason to believe their embattled currency won't break up. Read More
Failure by Congress' debt-cutting supercommittee to recommend $1.2 trillion in budget savings by Wednesday is supposed to automatically trigger spending cuts to accomplish the job.
Yet with the bipartisan debt panel increasingly unlikely to reach a deal, lawmakers who concocted the idea for the automatic cuts already are trying to figure out how to keep that budget axe from whacking their favorite programs. Read More
Spain's opposition conservatives swept commandingly into power and into the hot seat Sunday as voters enduring a 21.5 percent jobless rate and stagnant economy dumped the Socialists — the third time in as many weeks Europe's debt crisis has claimed a government. Read More
Premier Mario Monti formed a new Italian government without a single politician Wednesday, drawing from the ranks of bankers, diplomats and business executives to create a team to steer Italy away from financial disaster. Read More
Switzerland could face political pressure from the United States and European Union if foreign companies continue taking advantage of the country's low tax rates by moving their corporate headquarters here, a Swiss official said Monday. Read More