Debt Crisis

Portugal Struggles To Avoid 2nd Bailout

Tue, 07 May 2013 09:11:00 +0000

Transcript

DAVID GREENE, HOST:

Europe is debating whether austerity - with its deep budget cuts and tax hikes - is the right cure for the continent's debt crisis. But in Portugal, one of the first countries bailed out by the European Union, the austerity drive goes on.

Cyprus Passes Tough Financial Bailout Package

Scott Neuman — Tue, 30 Apr 2013 19:25:00 +0000

Lawmakers in Cyprus approved a controversial $13 billion bailout from international lenders that's aimed at keeping the country from a messy default and withdrawal from the eurozone.

The agreement, which totals $30 billion when Cyprus' own contributions are included, passed 29-27 in the 56-seat Parliament.

The ruling center-right Democratic Rally party and its ally, the Democratic party, voted for the measure.

"If there was another realistic alternative, our decision would surely be different.

Greek Parliament Approves Massive Layoff Plans

Mon, 29 Apr 2013 08:30:00 +0000

Transcript

STEVE INSKEEP, HOST:

NPR's business news starts with massive layoffs in Greece.

(SOUNDBITE OF MUSIC)

INSKEEP: Greek lawmakers approved emergency plans to cut 15,000 government jobs by the end of next year. They have to do that in order to receive more European Union bailout funds.

The Greek parliament approved a measure in a vote on Sunday.

Spain To Unveil Economic Overhaul Plan

Fri, 26 Apr 2013 09:17:00 +0000

Transcript

RENEE MONTAGNE, HOST:

Spain has lived through years of punishing budget cuts and austerity. This morning, its government unveiled a new economic plan which eased budget targets but acknowledged that recovery was still a long way off. Thousands took to the streets in Madrid overnight, protesting the country's past measures and tax hikes that have left many without jobs.

Lauren Frayer reports from Madrid.

(SOUNDBITE OF PROTEST)

LAUREN FRAYER, BYLINE: Spaniards surrounded their parliament with loud rallies overnight.

Italy's Financial Crisis Means More (Bread) Dough At Home

Tue, 16 Apr 2013 17:16:00 +0000

Processed food packed with salt, fat and sugar has been making incursions into the traditional diets of countries around the world. Even Italy isn't immune to the reach of junk food.