The government austerity programs making life a misery for millions of people in the European Union and around the world may all be the result of a mistake in Microsoft Excel, according to University of Massachusetts researchers. They found major ...

Banks in Cyprus remain closed despite a bailout deal the country's newly elected government signed with international creditors. Protests have followed the agreement which called for Popular Bank, the country's second biggest bank, to be closed d...

As the Cypriot leader meets with eurozone finance ministers for last-ditch talks to secure a 10 billion euro bailout, a pervading sense of gloom has affected the mood throughout the country. Cypriots are still reeling from shock over the dire situ...

As officials in the EU and Russia debate the fate of their economy, people in Cyprus are wondering what hit them, Euronews finds. The crisis caused by an inflated financial sector has left them scrambling to save what cash they can before a potent...

In Cyprus, banks are set to stay closed all week: until next Tuesday in fact, as the hunt continues for a bailout which Cypriots will accept, to stave off bankruptcy.

Cypriots are holding their breath for a make or break bailout decision amid warnings of a slide into bankruptcy or crash out of the euro. Cyprus has postponed a vote on a planned one-off tax on depositors' savings accounts central to a eurozone ...

Cypriots are furious with government plans to take some of their savings to part-fund a bailout of the country's banks. The EU and IMF are lending 13 billion dollars to Cyprus and insist ordinary Cypriots must contribute to the bailout.

France and the UK are pushing to supply arms to Syrian opposition fighters, and have requested that European Union talks on lifting the arms embargo currently imposed on rebel groups be brought forward. French Foreign Minister Laurent Fabius said ...

Last month's Italian election left the country deadlocked between three factions vying for power. Analysts fear that the political crisis on top of the country's economic crisis could leave it unable to service its debt, dealing what could be the ...

European Union lawmakers, in a bid to curb the kind of risk-taking that leaves banks needing bailouts, have agreed on a plan to cap bonuses at no more than one year's salary. The banking industry -- and the British government -- are opposed, argui...