European Debt Crisis

European stock markets are at their lowest level in nine months, and Dow Jones industrials have dropped below 10,000 on investor fears of an economic slowdown.

Tess Vigeland talks to Jacob Kirkegaard about how Greece's financial crisis can have an impact on American workers and the U.S. economy.

As Greece falls into a recession, Greeks are girding themselves for a tough financial future and pining for the days of the drachma.

Greece's Prime Minister George Papandreou says taking legal action against U.S. banks for their role in the Greek debt crisis is not out of the question.

In a speech, former Federal Reserve Chairman Paul Volcker suggested there was threat of a break up to the eurozone. Professor Barry Eichengreen talks with Kai Ryssdal about what can see the eurozone through its crisis and what would happen if a country pulls out of the euro.

In Greece, the unemployment rate for people between 18-30 is more than 25% -- more than twice the rate in the general population. Joanna Kakissis reports that austerity measures are going to bring a lot of pain.

Spain has ordered a 5 percent cut in public sector pay this year, with a pay freeze to follow next year. The move is an effort to avoid similar debt and protest problems to those suffered by Greece.

The Euro dropped in global markets just one day after Europe announced a near-$1 trillion bailout. Continuing coverage from European correspondent Stephen Beard.

The Daily Telegraph's Ambrose Evans-Pritchard talks with Kai Ryssdal about whether the $1 trillion European Union bailout is a real fix to its debt crisis and if the rescue package is analogous to what the U.S. did with the TARP to help troubled banks.

Beyond the near $1 trillion number, the E.U.-approved bailout of Europe will include the European Central Bank buying up sovereign debt. Christopher Werth reports.