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Business news and information from the European Union

Greece facing 'uncontrolled chaos' without debt deal: PM — 10 February 2012, 20:52 CET

Greece's prime minister on Friday warned his crumbling coalition that the country faces "uncontrolled chaos" without a debt deal while a two-day strike and protests in Athens left at least ten injured.

Greece faces 'uncontrolled chaos' without debt deal: PM — 10 February 2012, 19:27 CET

Debt-laden Greece risks "uncontrolled chaos" if it defaults, Prime Minister Lucas Papademos said Friday, as he prepared to push through new austerity cuts to unlock a 130 billion-euro rescue package.

Europe's trust gone, Greece at crossroads — 10 February 2012, 18:07 CET

Europe's trust in Greece has gone -- the question now is exactly what conditions it will put on any new loans to whatever government emerges in Athens when and if the country's old debt is restructured.

Greek police demand arrest of EU-IMF mission over austerity — 10 February 2012, 18:04 CET

Greek police unionists have called for the arrest of head auditors from the EU, the IMF and the European Central Bank for destroying social cohesion with a tough austerity plan ongoing for a third year.

Greece heads for reshuffle amid strikes, EU diktat on debt — 10 February 2012, 18:03 CET

Greece's ruling coalition was headed for an emergency reshuffle on Friday with the country gripped by a two-day general strike and violent protests in Athens as a chaotic debt default looms closer.

EU to tighten Syria economic sanctions end February — 10 February 2012, 16:16 CET

The European Union has reached an agreement in principle to tighten economic sanctions against Syria at the end of February to further cut funding for the regime.

Poland, Lithuania eye EUR 471m gas link — 10 February 2012, 16:16 CET

Poland and Lithuania's gas supply companies said on Friday they intended to build a 471-million-euro pipeline to hook the Baltic states to the rest of the EU's energy market.

Finland 'frustrated' with Greek bailout setback: minister — 10 February 2012, 15:18 CET

Finnish EU Affairs Minister Alexander Stubb expressed frustration Friday with Greece's failure to quickly push through biting austerity measures to secure a second massive bailout package.

EU accuses Syrian regime of 'atrocities' — 10 February 2012, 15:17 CET

The European Union Council's president on Friday accused Syria of committing "outrageous" atrocities against its citizens in a brutal crackdown on opponents of President Bashar al-Assad.

EU confident Greece will agree to cuts for bailout — 10 February 2012, 15:17 CET

European Commission President Jose Manuel Barroso said Friday he was confident that Greece would enact "painful" and "extremely difficult" reforms to qualify for a new bailout package.

Clashes erupt on sidelines of Greek austerity protest — 10 February 2012, 15:17 CET

Greek protesters threw stones and firebombs at riot police who responded with tear gas in Athens on Friday as clashes erupted on the sidelines of a protest against new austerity cuts.

Merkel to meet Danish, Dutch, Estonian leaders on euro — 10 February 2012, 15:16 CET

German Chancellor Angela Merkel will hold talks with her Danish, Dutch and Estonian counterparts on Monday to discuss the euro crisis ahead of a European Union summit in March, her spokesman said.

EU pressures India over Iran nuclear programme — 10 February 2012, 15:16 CET

The EU on Friday pushed India to use its influence to get Iran to resume talks over its disputed nuclear drive, a day after New Delhi said it wanted to boost trade with the Islamic republic.

Gazprom plans increased supplies to Europe in 2012: report — 10 February 2012, 15:14 CET

Russian gas giant Gazprom said on Friday it intended to increase gas exports to Europe in 2012 compared with last year, even though it has declined to pump extra gas this winter amid a cold snap.

Greeks strike in defiance of EU ultimatum on debt — 10 February 2012, 13:10 CET

Greece was hit by a new barrage of strikes and protests on Friday against draconian budget cuts in defiance of a eurozone ultimatum for even tougher conditions for a debt rescue.

Russia must see 'reality' in Syria: EU's Ashton — 10 February 2012, 10:50 CET

Russia must confront "the reality" of the deadly crackdown in Syria, EU foreign affairs chief Catherine Ashton said Thursday, after Moscow vetoed a UN resolution condemning the violence.

Eurozone gives Greece ultimatum for new bailout — 10 February 2012, 10:49 CET

Eurozone finance ministers put off a decision Thursday on a new bailout to save Greece from bankruptcy, giving Athens less than a week to meet three conditions in return for 130 billion euros in aid.

Obama hails Italian PM in talks on euro crisis — 10 February 2012, 10:47 CET

US President Barack Obama praised Italian Prime Minister Mario Monti on Thursday, saying he was boosting confidence across Europe and world markets with his economic rescue program.

Iran, free trade pact top EU-India summit agenda — 09 February 2012, 23:13 CET

The European Union looks set to push India at a summit Friday to use its commercial and diplomatic influence to try to bring Iran back to the negotiating table over its disputed nuclear programme.

Kosovo organ trade probe tries to track victims abroad — 09 February 2012, 22:58 CET

EU prosecutors in Kosovo trying seven people accused of organ trafficking in a landmark case said Tuesday they had asked Russia, Ukraine, Israel and Turkey to help identify victims of the scam.

Eurozone stalls Greek cash aid pending new conditions — 09 February 2012, 22:51 CET

Eurozone finance ministers refused Thursday to give their immediate backing to a second bailout for Greece despite a last-minute deal in Athens on austerity measures demanded by creditors.

Eurozone stalls Greek cash aid despite austerity deal — 09 February 2012, 22:51 CET

Sceptical eurozone finance ministers refused Thursday to release a second bailout for Greece, despite a last-minute deal in Athens on austerity measures demanded by creditors.

Obama to meet Italian PM on euro crisis — 09 February 2012, 22:29 CET

Barack Obama turns his focus Thursday to a crisis that could conceivably end his presidency, but over which he has little control, welcoming Italy's Prime Minister Mario Monti for Europe debt talks.

EU urges governments to tighten breast implant controls — 09 February 2012, 22:27 CET

The European Commission urged governments on Thursday to tighten controls of medical devices after faulty French-made breast implants sparked a global health scare.

EU agrees new rules to police derivatives market — 09 February 2012, 22:27 CET

EU government and parliament negotiators have struck a deal to impose new rules on the multi-trillion-euro derivatives market, an obscure instrument maligned for helping cause the global financial crisis.