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The resignation of Portuguese government late Wednesday weighs on the European Union Summit that starts today, as the country seems very close to resorting...

International Monetary Fund said on Wednesday that a medium-term budget strategy paper, which will set annual spending ceilings for individual line ministries and fiscal...

Maria Damanaki, the commissioner for maritime affairs, publicly distanced herself from European Commission policies that she says could lead to "social degradation" and called...

Greece's debts are rising rapidly despite radical austerity measures. Now a group of leading European economists has warned that creditors might have to write...

The German central bank also opposed the idea of the European Financial Stability Facility (EFSF) lending countries money at favourable interest rates to buy...

Automatic sanctions to discipline fiscal offenders in the euro zone are preferrable to setting constitutional debt brakes, ECB Governing Council member Yves Mersch (photo)...

Most global investors predict that at least one nation will abandon the euro zone within five years and that Greece and Ireland will default,...

Olli Rehn revealed on Wednesday that the European Union is trying to implement a comprehensive plan to contain the sovereign debt crisis. Europe needs to...

European Union aid to Greece is not charity and will be paid back in full. This was in a statement made by Prime Minister...

By the Mercy of God Archbishop of Constantinople-New Rome and Ecumenical Patriarch To the Plenitude of the Church Grace, Peace and Mercy from the Savior Christ Born in Bethlehem Beloved...