The number of unemployment in the Eurozone fell during June for the first time in over two years although the overall unemployment rate did not change.
The jobless total of 19.26 million was 24,000 less than last month, the first fall since April 2011. The overall unemployment rate held at a record 12.1%. Continue reading
The ongoing crisis in the Eurozone has led the International Monetary Fund to call for more action to help increase bank lending.
The IMF commended steps taken by European leaders to stabilize financial markets and said their actions decreased the likelihood of a breakup of the Euro. However, the IMF report said that further cuts to interest rates by the European Central Bank would be needed to boost growth. Continue reading
Budapest, Hungary is facing historic flooding of the Danube River that is driving thousands from their homes after heavy rain across central Europe.
The river is expected to crest at 29.5, just a foot below the river’s flood fences at 30.5 feet. The previous record high was 28 feet in 2006. At least 1,200 people from 28 towns have been forced to leave their homes. Continue reading
The BBC is reporting that Iraqi officials have stopped a plot by al-Qaeda to carry out poison gas attacks in the Middle East, Europe and North America.
Remote-control toy planes would carry out the attacks. Continue reading
The head of anti-terrorism in the European Union is sounding concern regarding the number of Europeans fighting with extremists in Syria.
Gilles de Kerchove estimated the number of Europeans involved directly in the fighting at 500. He showed concern that these people would become radicalized during their time with Islamic rebels and then would pose a threat to Europe upon their return. Continue reading
European Commission officials finally admitted what economists have been saying for months: the recession across the eurozone will continue through 2013.
The Commission said the eurozone’s economy is expected to shrink .3% during 2013. The Commission has been holding to a previous published report that the eurozone would see .1% growth during the year. The economy shrank .6% during 2012. Continue reading
The biggest trade deal in world history is on the table as the U.S. and European Union formally begin to discuss a free trade agreement.
The two entities mark the world’s two biggest economies and current trade between the groups is around $613 billion a year. Continue reading
Authorities in England, France and Belgium have broken up a major human trafficking ring that preyed on immigrants from the Middle East and Afghanistan.
The UK Border Agency raided 35 locations yesterday while France and Belgium carried out 40 raids. The raids were spread out over the entire countries instead of focusing on only one major city. Continue reading
Russian research firm Kaspersky Labs released information today about a major cyber-crime attack that has been stealing classified government information since 2007.
The malware, code named “Red October,” is designed to steal encrypted files and has the ability to retrieve files that have been deleted on a computer if the deletion was not done in a secure manner. Continue reading
A variant of the norovirus discovered last year in 2012 in Australia has spread to the level it is prepared to overtake all other noroviruses in Europe.
The variant, Sydney 2012, has been identified by genetic testing in England as causing more cases of “winter vomiting disease” than any other virus. The virus causes violent and projectile vomiting, diarrhea, fevers, headaches and stomach cramps. Continue reading