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Italy Splurged EU Funds on Elton John Concert
By Steven Hoffer - AOL News(Nov. 11) -- The European Union is just not feeling the love from Italy tonight. More than a year after Sir Elton John's Piedigrotta Festival performance in Naples, European Union officials are a bit concerned about the 750 million euros in EU funds that were used to put on the British singer-songwriter's concert. The EU provided the money to the Campania region, which includes Naples, as a culture subsidy to support local music, crafts and cuisine. "We know EU funds were used for this concert, and we are looking into it to see if it was eligible," an EU spokesman told the U.K.'s Guardian. ...
Change in the Air? Cuba Vows to Free 52 Activists
By Terence Neilan - AOL News(July 8) -- Cuba has agreed to release 52 political prisoners, prompting Spain's foreign minister to call on the European Union to ease its refusal to normalize relations with Havana and to describe the move as an opportunity for the U.S. to improve its fractured ties. One almost immediate result today was that Guillermo Farinas ended his 134-day hunger strike, after saying he would not eat or drink unless there was clear evidence Havana would make good on the deal. After ending his strike, Farinas, a 48-year-old journalist and psychologist, appeared in good spirits, The Associated Press ...
UFOs at the UN -- A Close Encounter
By Lee Speigel - AOL News(June 25) -- Will the European Union disclose any UFO files it might have, as one lawmaker called for several days ago, perhaps bringing new facts to a field long relegated by government officials as science fiction? Maybe, but this isn't the first time world leaders have had a close encounter with UFOs. As AOL News reported here earlier this week, Italian Northern League party leader Mario Borghezio has urged all 27-member EU governments to open the books and reveal any previously secret UFO files. Carsten Koall, Getty Images Mario Borghezio, a member of the European ...
European Debt Crisis Could Shake Global Economy, Markets Suggest
By David Sessions - Politics DailyJust a week after financial leaders approved a nearly $1 trillion bailout package for Europe, fears are again mounting that the debt crisis in countries like Greece and Italy could place such a strain on major banks that it would send shock waves through the world economy, the New York Times reports. During trading on Friday, unease about the debt sent the euro to its lowest mark against the U.S. dollar in months. Already, world markets show signs of following the worried lead of European investors. Wall Street stocks plunged Friday along with the euro, and Monday morning trading in Japan and ...
Biden on Terror Threat: Asks Europe for More Cooperation in Tracking Money
By Tom Diemer - Politics DailyVice President Joe Biden slammed Iran Thursday for supporting terrorist groups and urged the European Union to restart a financial tracking program that gives the U.S. access to European data as a means of following the money in terrorism investigations. The Iranian government also "faces a stark choice" on its nuclear program, Biden told the European Union Parliament in Brussels. "Abide by international rules and rejoin the community of responsible nations, which we hope for, or face further consequences and increasing isolation." The Terrorist Finance Tracking Program, created in the ...
US Recovering Faster Than Economic Rivals, IMF Says
By Joseph Schuman - AOL News(April 21) -- Thanks in part to an injection of government stimulus money, the ailing U.S. economy is rebounding from the financial crisis more strongly than Europe and Japan, according to the International Monetary Fund, which also predicts the world as a whole is mending faster than it thought just three months ago. The IMF now forecasts that the U.S. economy will grow by 3.1 percent this year, the euro zone will expand by 1 percent and Japan will grow by 1.9 percent. Such growth predictions for industrialized countries still pale in comparison with the expected growth of 10 percent in ...
Greece Bites the Bullet on Austerity Plan
By Anthee Carassava - AOL NewsATHENS (March 3) -- Greece faced crunch time Wednesday, ordering an additional $6.5 billion in radical budget cuts that will slash 30 percent off civil servants' holiday bonuses and slap fresh taxes on consumers. The measures amounted to a last-ditch bid to stave off the euro zone's first debt default and the broader financial fallout that would cause. The austerity plan, announced after an urgent cabinet meeting, comes days before Greece's embattled Prime Minister George Papandreou flies to Germany to enlist the help of Europe's biggest and healthiest economy. The move also aimed to calm ...
Enraged Greeks Protest Austerity Moves
By Anthee Carassava - AOL NewsATHENS (Feb. 24) -- As a mechanical engineer working for the state for three decades, Dina Apostolou was set to retire this year. Instead, she's agonizing as Greece's enfeebled economy teeters on the verge of collapse. "If austerity measures take effect, then I may have to work another five years," she says as she stomps through the streets of Athens. "I understand the government has to find a way out, but why should the wage earners and the laborers be saddled with the cost of this crisis?" Milos Bicanski, Getty Images Crowds march through the streets of Athens on Wednesday to protest the ...
Obama's 'Snub' Adds to the Pain in Spain
By Sarah Wildman - Politics DailyWho can get President Obama to Iberia? The prime minister has struck out. Even the king, apparently, has no pull. King Juan Carlos I of Spain lunched with the president on Wednesday. As predicted, the monarch, much beloved in Spain for his role in the transition from dictatorship to democracy, invited the Obamas to visit Spain and assured the continuation of good Spanish-American relations. Yet if Spaniards hoped to lock down a presidential visit, it wasn't to be. For the second time in as many months, Obama promised vaguely to come to Madrid but failed to pencil in a trip. Three weeks ago ...
US Bank Bombed Amid Greek Budget Furor
By Joseph Schuman - AOL News(Feb. 16) -- A small time bomb exploded at an Athens office of JPMorgan Chase on Tuesday evening amid widespread anger at foreign bankers and their role in the financial crisis that's forcing Greece to make painful budget cuts. Police told Reuters the bomb caused only minor damage to the building's exterior. Emergency vehicles were reportedly blocking off the street where the bank's offices are located in the capital's ritzy district of Kolonaki. A warning was called in to an Athens newspaper ahead of the explosion, The Associated Press reported. There was no immediate claim of ...
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