Austerity

Today, the European Commission said the euro zone will shrink another 0.3 percent in 2013, which is deeper and longer lasting than originally expected.

After clashes between police and protesters became violent, Bulgarian Prime Minister Boyko Borisov submitted his resignation today in what has become the latest example of voters rising up against budget cuts and winning.

Francois Hollande gives his first speech to the European Parliament as head of state.

A bribery scandal in Spain is threatening the government of Prime Minister Mariano Rajoy at a time of austerity and high unemployment.

The U.K.'s coalition government has just passed the halfway point in its first term. Critics say its continuing tough talk on austerity is constraining growth.

The outgoing Prime Minister of Italy, Mario Monti, has said he would would be prepared to head up any new government committed to his economic reforms.

Greece's credit rating just got an upgrade by Standard & Poor's. The ratings agency bumped Greece up to a solid B-. And it says that rating is stable -- meaning it won't change in the next several months.

The company is one of a number of big U.S. businesses accused of not paying a fair share of tax on their British operations.

Millions of workers went on strike across Europe today in protest against public spending cuts. Hundreds of flights have been cancelled, car factories and ports have been shut, and rail services disrupted.

There are strikes going on this morning in Greece, Spain, Portugal, Italy and Belgium. Workers are protesting all across Europe against rising unemployment and austerity.