Debt Crisis

1:25pm

Tue April 30, 2013
The Two-Way

Cyprus Passes Tough Financial Bailout Package

A Cypriot left-wing supporter sits in the shade during a protest outside the Parliament in Nicosia on Tuesday.
Patrick Baz AFP/Getty Images

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.

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2:30am

Mon April 29, 2013
NPR Story

Greek Parliament Approves Massive Layoff Plans

Originally published on Mon April 29, 2013 6:00 am

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. Their new law will overturn what had been a constitutional guarantee for public sector workers to have a permanent position for life.

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3:17am

Fri April 26, 2013
NPR Story

Spain To Unveil Economic Overhaul Plan

Originally published on Fri April 26, 2013 4:59 pm

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)

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11:16am

Tue April 16, 2013
The Salt

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

Originally published on Thu April 18, 2013 9:54 am

A young baker at the Roscioli bakery in Rome prepares bread.
Amy Guttman for NPR

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. But hard economic times are spurring Italians to rediscover home cooking, and especially bread making.

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2:11pm

Thu April 11, 2013
The Two-Way

Price Tag On Cyprus Bailout Goes Up

Originally published on Thu April 11, 2013 4:08 pm

It's going to cost more to bail out Cyprus than originally projected, with officials now saying the cost will be $30 billion instead of the original estimate of $23 billion.

"It's a fact the memorandum of November talked about 17.5 billion [euros] in financing needs. And it has emerged this figure has become 23 billion [euros]," government spokesman Christos Stylianides was quoted by the BBC as saying on Thursday.

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