European Union (EU)

7:13am

Fri June 15, 2012
The Two-Way

Central Banks 'On Standby' As Greek Elections Loom

The European Central Bank "is on standby to keep banks flush with liquidity" if Greeks effectively vote on Sunday to support politicians who want to reject austerity measures and pull the nation out of the eurozone, The Financial Times writes this morning.

The ECB joins "a global chorus of central bankers pledging support ahead of Sunday's elections," the FT adds.

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1:10pm

Sat June 9, 2012
The Two-Way

Spain, Eurozone Agree To 'Financial Support'

Originally published on Mon June 11, 2012 4:37 am

"The Spanish government states its intention to request European financing for the recapitalization of banks that need it," Spanish Economy Minister Luis de Guindos said at a press conference on Saturday.
Pedro Armestre AFP/Getty Images

Spain will ask, and European finance ministers will agree, to offer up financial aid for the country's struggling banks.

Spanish and eurozone officials announced their intentions after a three-hour emergency conference call on Saturday. If they make good on it, Spain will be the fourth – and largest — member of the 17-nation eurozone to receive outside help as Europe's debt crisis marches on.

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5:46am

Sat June 9, 2012
Europe

Restructuring Europe Amid A Complex Political Climate

Originally published on Sat June 9, 2012 8:58 am

Transcript

SCOTT SIMON, HOST:

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7:49am

Thu June 7, 2012
The Two-Way

Greek Unemployment Hits Record High, Is Nearly Double Eurozone Average

Originally published on Thu June 7, 2012 1:14 pm

An elderly man walked by riot policemen guarding the Interior Ministry in Athens on Wednesday.
Kostas Tsironis AP
  • Joanna Kakissis, reporting for NPR

12:56am

Thu June 7, 2012
Middle East

Planned E.U. Oil Embargo Looks Set To Squeeze Iran

Originally published on Thu June 7, 2012 12:07 pm

Iranians line up at a gas station to fuel their motorcycles in central Tehran in February. Oil is the lifeblood of Iran's economy, but the planned EU boycott is expected to deal a major blow to Iranian oil exports.
Behrouz Mehri AFP/Getty Images

On July 1, the European Union says it will stop buying oil from Iran. Europe is one of the most important markets for Iran's oil, and in anticipation of the boycott, Iranian oil exports worldwide are already down by more than 25 percent.

Iran's leaders say they can weather this pressure, and so far they have refused to budge on their controversial nuclear activities, ones that prompted a series of economic sanctions.

As a result, it appears as if Iran will only face even greater difficulties when it comes to exporting oil, the lifeblood of its economy.

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