NEW YORK — Stocks slumped Wednesday in one of their worst showings this year as Greece, slogging through negotiations with other countries over a bailout, once again cast a long shadow over the financial markets.
BRUSSELS (AP) — The European Union said Friday that 26 of its 27 member countries are open to joining a new treaty tying their finances together to solve the euro crisis. Only Britain remains opposed, creating a deep rift in the union.
BRUSSELS (AP) — European leaders were wrestling Thursday over how much of their sovereignty they are willing to give up in a desperate attempt to save the ambitious project of continental unity that grew from the ashes of World War II.
PARIS (AP) — Seeking to restore confidence in the euro, the leaders of France and Germany jointly have called for changes to the European Union treaty so that countries using the euro would face automatic penalties if budget deficits ran too high.
ROME (AP) — Under pressure to control its dangerous debt, Italy sped a package of reforms toward approval Friday and prepared to hand its dysfunctional government over to a technocrat who Europe hopes can save the country from going broke. Financial markets around the world rallied in relief.
In a wild week that gripped the world’s financial markets, the prime minister of Greece threw a monkey wrench into a fragile (and still somewhat amorphous) plan that was supposed to bail out the financially strapped Greek economy, stabilize European banks, and recapitalize the European Financial Stability Facility (EFSF).
ATHENS, Greece (AP) — Greece’s embattled prime minister and main opposition leader agreed Sunday to form an interim government to ensure the country’s new European debt deal, capping a week of political turmoil that saw Greece face a catastrophic default that threatened its euro membership and roiled international markets.
ATHENS, Greece — Greece was in turmoil and the world economy in limbo Thursday as a high-stakes game of political brinkmanship in Athens led Prime Minister George Papandreou to abandon his explosive plan to put a European rescue deal to a referendum.