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Britain and other European Union members fear that a ban on insurers covering Iranian oil ships could have harmful economic effects.
Nicolas Sarkozy has become the 11th European leader to be ousted since the 2008 financial crisis.
The president of the European Central Bank said that opting for the “easier road” of raising taxes to balance budgets would not solve Europe’s problems.
Revelations in the United States that a Google employee had informed colleagues that his program would collect personal data has cast doubt on the company’s excuses.
TOKYO (Reuters) - Asian shares fell and the euro was under pressure on Tuesday as political uncertainty and slumping business in Europe raised fears the euro zone could struggle to push through austerity measures and may stay in recession longer.
Concern over the health of Spain’s banks has fueled speculation that, for the first time, the bailout fund might be needed to help recapitalize the financial institutions of a big country.
Europe is still very much concerned about its dependence on Russian energy resources. The Old World has realized that Russia's gas pipelines have turned into chains that have deprived Europe of freedom. The launches of Nord Stream and South Stream projects showed that Russia was not going to stop
The ministers agreed to require companies to rotate ratings agencies, though the rules still must be approved by governments and the European Parliament.
Chinese, United States or Japanese companies could be blocked from bidding for public contracts in Europe if their countries are thought to be excluding bids from European firms.
Automakers on the Continent are using money borrowed from the central bank’s stimulus program to offer low-interest loans to customers.
The European Parliament adopted an ambiguous resolution on the presidential elections in Russia. The resolution serves two masters. On the one hand, the European Parliament described the electoral process in Russia as "not free and unfair." On the other hand, the parliament is optimistic about the future and the further dialogue with Russia
Horst Reichenbach, the head of the European Union’s task force on Greece, said the country has made progress but more needs to be done to crack down on tax evasion.
The commission does not allow its travel office to book low-fare airlines like Ryanair, whose chief executive filed a formal complaint over the policy this week.
In a move described as a “sovereign decision” by its prime minister, Spain revised its deficit target for 2012 to 5.8 percent of gross domestic product, from 4.4 percent.
The European Central Bank said 800 banks snapped up 530 billion euros, or $713 billion, in new three-year loans, more than the last round, easing fears of a credit crunch.
Exposure to Greek debt and other damaged assets resulted in quarterly losses at Royal Bank of Scotland, Credit Agricole and Dexia.
Euro zone leaders seemed to have put behind them difficult negotiations and bitter exchanges as they prepared for a meeting of finance ministers scheduled for Monday.
The Socialist candidate for the French presidency, François Hollande, criticized European policy on Greece, saying that mandatory austerity measures were too severe.

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