Despite reservations by a European Commission report regarding corruption and organized crime in Croatia, the EC has given permission to the nation to join the EU on July 1st.
Croatia would become the EU’s 28th member state and the first to join since Bulgaria and Romania in 2007. Croatia has been trying to negotiate membership in the EU for a decade. Continue reading
More than 40% of all babies born in the EU in 2011 were born out of wedlock according to a new study released by the EU’s statistics agency.
The EU’s rate of births outside of marriage was only 17% in 1990. Continue reading
Eurozone finance ministers were holding unscheduled meetings trying to find a “plan B” for Cyprus as the country’s financial system is rapidly collapsing beyond their control.
The country’s banks have been shut until next week because of a run on savings accounts. Rumors that the European Union and the International Monetary Fund would require all Cyprus account holders to sacrifice a portion of their savings to obtain a bailout of the nation. Continue reading
Admit outcry from citizens, the government of Cyprus has unanimously rejected a bailout measure from the European Union and the International Monetary Fund that would require seizing funds from every bank account in the nation.
After the vote the European Central Bank said they would move to assist Cyprus in any way they can under the currently approved banking systems. Continue reading
Banks in Cyprus are closed through Thursday after citizens tried to withdraw all their funds ahead of a possible government seizure of funds.
The European Union and International Monetary Union have requested that Cyprus seize a portion of all bank accounts in the country before any bailout funds will be given to the nation. Continue reading
Greek Prime Minster Antonis Samaras has placed his country and the European Union on notice that austerity measures have ended in Greece.
The proclamation comes as Greece’s international creditors extended an audit of the nation’s finances and crisis reforms. Continue reading
A resolution scheduled to be voted on Tuesday at the European Parliament includes language that would support a ban on online pornography in the EU.
The move is part of a bill to eliminate “gender stereotypes in the EU” and is meant to celebrate International Women’s Day. Continue reading
Bankia, a company founded when seven struggling savings banks merged, has shown a record loss in 2012 causing analysts to wonder if the bank’s collapse is imminent.
Bankia’s losses for 2012 totaled $25.2 billion U.S. dollars. Continue reading
The Greek government has invoked an emergency power act to order sailors and dock workers to end a six day strike that has crippled traffic to Greek islands.
Workers who defy the order will face jail terms of three months to five years. Continue reading
“There is definitely a glimmer of hope,” Greek finance minister Yannis Stournaras told the BBC. “Light at the end of the tunnel.”
Greece is still receiving a large amount of bailout money from the European Union amid austerity measures that have caused massive strikes among public sector employees. The money is expected to continue being given to the country through the first half of the year. Continue reading
