April 26, 2012 Standard & Poor announced it was downgrading Spain's long-term sovereign credit rating by two notches – from "A" to "BBB+." The agency also lowered the country's short-term sovereign credit rating to "A-2" from "A-1," and said the outlook on the long-term rating is negative.
April 2, 2012 Up to now, Ireland has been the "poster child of austerity" for the way its people have accepted some tough remedies. But thousands protested over the weekend and about half of households didn't register to pay a new tax.
February 9, 2012 The indebted nation needed to agree to more cuts in pensions and other programs. Now it's in line to receive about $173 billion more in financial aid.
December 13, 2011 The author of a new Greek cookbook that features recipes from the meager days of World War II says the book resonates with Greeks today who want to make more with less.
December 8, 2011 Policymakers are expected to follow up that action with some other steps aimed at giving banks easier access to cash. It's hoped the moves will ease the continent's credit crunch.
December 1, 2011 The euphoria over central banks' moves to ease Europe's credit crisis has given way to some concern over weakness in China's economy.
November 21, 2011 The likely collapse of the so-called supercommittee's efforts to put together a deficit-reduction deal and continued concern about the debt crisis in Europe are pushing stocks down on Wall Street.
November 3, 2011 Prime Minister George Papanedreou's call for a referendum on a bailout package that would require harsh austerity measures had ripped apart the government and brought criticism from other leaders. Papanedreou reversed himself in a speech to parliament.
November 2, 2011 The French leader said Greece would not get its next installment of its rescue loans, until after Greeks cast a vote on whether to accept the terms. The timing, however, might leave Greece in a tough position without enough money to pay its obligations.
November 2, 2011 Financial markets are watching what happens in the French resort, where European leaders plan to grill Greek Prime Minister George Papandreou over his plan to have a referendum on a bailout package aimed at shoring up his nation.