Bankers Cry as EU Deal Aims to Cap Bonuses for Financial Industry | Common Dreams

Bankers Cry as EU Deal Aims to Cap Bonuses for Financial Industry | Common Dreams
"Once again proving more adept at reigning in the financial sector than its US counterpart, the European Union's parliament on Thursday approved a plan for new restrictions on banks operating on the continent that would cap bonuses for financial executives and bankers."

European Economy Expected To Contract Even More In 2013

European Economy Expected To Contract Even More In 2013: The European economy, beset by high unemployment and austerity measures aimed at reducing debts and deficits, will contract again in 2013, according to the continent’s official economic body. That would make 2013 the second consecutive year, and third in the past five, in which the 17-nation Eurozone’s economy will have shrunk, adding to its already [...]/p

Austerity Fail: After Massive Spending Cuts, European Countries Fail To Hit Deficit Targets

Austerity Fail: After Massive Spending Cuts, European Countries Fail To Hit Deficit Targets: European austerity has already proven a terrible failure, driving the continent as a whole back into a recession and pushing unemployment to record levels. Despite promises from leaders across Europe that reducing deficits would spur growth, that hasn’t been the case. And worse yet, the focus on austerity hasn’t even led to the deficit reduction [...]/p

Austerity Fails: European Nations See Debt Grow Despite Deep Spending Cuts

Austerity Fails: European Nations See Debt Grow Despite Deep Spending Cuts: Since the onset of the financial crisis, European countries have attempted to deal with their economic malaise by implementing austerity packages, slashing government spending and laying off public workers. However, such measures have proved self-defeating, as the austerity measures blunted economic growth and caused Europe’s debt to actually grow: The eurozone failed to reduce its [...]/p