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
The European Stability Mechanism, created in October as a permanent agency of the EU, has already had its credit rating downgraded by Moody’s. Continue reading
A survey is showing that business activity in Europe has fallen to a 35-month low. In response, the euro fell to a 22-month low against the US Dollar.
European leaders failed to reach an agreement on how to handle the crisis as a proposal by French President Francois Hollande for pan-European bonds was opposed by German pending “more economic discipline” across Europe. Continue reading
