Debt Crisis

7:50am

Mon April 2, 2012
The Two-Way

Irish Protest Against Household Tax As Austerity Pain Bites Further

Originally published on Mon April 2, 2012 8:55 am

Phyllis O'Toole joined an estimated 5,000 demonstrators in the streets of Dublin on Saturday (March 31, 2012).
Shawn Pogatchnik AP

House prices have crashed. Banks and businesses have failed. Jobs have been axed. People are struggling to make the mortgage.

The Republic of Ireland's 4.6 million people have suffered considerably since the financial crisis began four years ago, forcing their government to turn to the European Union and International Monetary Fund for a $90 billion bail-out.

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6:31am

Fri March 30, 2012

3:52am

Sun March 18, 2012
Europe

After Spain's Construction Bust, Gardens Bloom

This urban garden was started by a group of neighbors on land that was cleared for construction during Spain's housing bubble but never built upon. The garden was started in November 2011 and is tended by neighborhood volunteers.
Lauren Frayer for NPR

Spain is littered with vacant lots and half-built apartment complexes, where developers ran out of money when the construction bubble burst.

But in one Madrid barrio, neighbors are putting an abandoned tract of urban space to creative use.

Behind a chain link fence, in a dusty weed-filled lot between two soaring apartment blocks, Emilio de la Rosa is planting vegetables.

"Different types of products — garlic, beans, tomatoes, lettuce," he says. "We're teaching our children where tomatoes come from — not from the grocery store, but the ground."

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4:23am

Sat March 17, 2012
Europe

Greek Bailout Is Accompanied By Greek Resentment

Originally published on Sun March 18, 2012 8:07 am

Shipyard workers demand their unpaid wages in central Athens on Thursday, the day that countries in the 17-nation euro zone formally approved a second bailout of $36.6 billion for Greece.
Petros Giannakouris AP

Debt-beleaguered Greece has secured a second international bailout. But for many Greeks, the conditions set by the International Monetary Fund, European Union and European Central Bank — known as the "troika" — are a breach of their sovereignty.

A recent demonstration in central Athens was organized by a group of lawyers who claim the latest bailout agreement turns Greece into the ward of its international lenders.

Demonstrator Irini Lazana says it violates the country's legislative foundations.

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2:00am

Thu March 15, 2012
Business

Spain Granted Time To Comply With EU Budget Rules

Transcript

RENEE MONTAGNE, HOST:

And after the latest financial bailout of Greece, Europe is now worried more about Spain. That country has also been overspending for years, in violation of EU budget rules.

To look at the implications, Lauren Frayer brings us this report from Madrid.

LAUREN FRAYER, BYLINE: Before the ink was dry on a new European fiscal pact, Spain was already asking for a pass. Its deficit last year was nearly triple what EU rules allow.

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