As banks reopened in the beleaguered island nation of Cyprus Thursday, account holders were told daily limits on cash withdrawals would last only a week. But just kidding, according to the government, it could be a month before Cypriots are allowed full access to their bank accounts
Banks in Cyprus re-opened today for the first time in nearly two weeks, but the only "bank run" that has developed is the crush of reporters hoping to document the (non-existent) chaos.
It took all weekend, but European finance chieftains finally clinched a deal that will keep Cyprus afloat—by taking a heavy toll from their wealthiest customers.
After widespread anger over the plan to tax regular people's bank accounts to pay for a big bank bailout, Cyprus's government reworked to the deal to protect small savers. Unfortunately, the new tax plan is unlikely to change anyone's mind about the fairness of having their savings taken away.
After a day of marathon talks that ran into Monday night, European finance ministers reached a deal that will allow Greece to receive more financial aid and temporarily stave off the chance of economic collapse.
Large general strikes have hit countries spanning the entire European Union on Wednesday, as workers across the continent coordinated protests against government austerity measures.
As the Spanish government finishes negotiating the terms of its European bailout, Prime Minister Mariano Rajoy announced a new round of tax increases and spending cuts meant to satisfy the European powers who are rescuing them.
Pro-bailout parties in Greece have taken a little over 40 percent of the vote in the election on Sunday, calming global fears of a Euro exit, if they can form a government.
The latest signal of how the situation in the eurozone's gone from bad to worse: Britain is writing up evacuation plans for expats in Spain and Portugal in case the European currency goes kaput.
Most of the members of the European Union agreed to a new "intergovernmental agreement," with strict budget rules and financial safeguards, but the United Kingdom has effectively torpedoed the deal as a threat to its national sovereignty.
The scariest prediction we've seen so far for what happens if the euro zone falls apart comes from Citigroup's Willem Buiter, who argues all that's at stake in the debt crisis is a global depression, war, and a European continent as divided as it's ever been since the fall of the Roman Empire.
Cartoonist Lisa Benson is down on the euro zone.
George Papandreou will resign as prime minister, and talks about the makeup of the new coalition government will continue Monday.
The G20 meetings in Cannes have yielded plenty of verbal support for the ailing euro zone, but so far, nobody's willing to actually cough up any cash.
Want a sign of just how serious Europe's debt crisis is? French President Nicolas Sarkozy flew to Frankfurt to unstall bailout talks while his wife Carla Bruni gave birth to their first child.
Slovakia is the last of the 17 members to approve the $600 billion bailout
Stocks up in Europe and the United States as a bailout extension is expected for Greece
Today's Euro Zone package is roughly the same size as last year's
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