Sen. John McCain, R-Ariz. is interviewed on Capitol Hill in
Washington, Tuesday, Aug. 2, 2011, after the Senate voted
to pass debt legislation. (Jacquelyn Martin) |
Madrid's Stock Exchange is seen on Wednesday Aug. 10, 2011.
A risky European Central Bank decision to fight the continent's
debt crisis by buying Spanish and Italian bonds on Monday
started pushing down the soaring interest rates threatening those
countries with financial disaster.(Daniel Ochoa de Olza)
|
In this Feb. 1, 2011 file photo, people queue outside an unemployment
office in Madrid. Spain's Labor Ministry says the number of people
filing claims for unemployment benefits fell by 42,059 in July as
the summer tourism season provided new jobs. The ministry
said Tuesday, Aug. 2, 2011 that July's fall was the fourth
straight monthly decline. It left the number receiving benefits
at 4.08 million, down from 4.12 million the previous month.
(Arturo Rodriguez, File) |
Lawmakers crowd the Parliament as Italian Premier Silvio Berlusconi
addresses the lower chamber on the state of the economy in Rome,
Wednesday, Aug. 3, 2011. Berlusconi said economic growth is his
government's key policy aim. After a volatile day on markets, in
which Italian borrowing rates touched a record high, Berlusconi
told parliament that Italy "has not done little'' in response to the
crisis, but that it needs to do more. He says Italy needs to promote
competitiveness and growth. |
A beggar, his body covered with white paint, walks along a street
in Port-au-Prince, Haiti, Saturday, March 5, 2011. (Ramon Espinosa) |
A nearly deserted atrium of the European Council is pictured in
Brussels, Monday, Aug. 8, 2011. European have always valued
their vacations, and their leaders are no exception. With modern
communications, the leaders say they remain constantly in touch.
So do their vacations matter? One financial analyst says yes:
"It sends a terrible message to the markets ... in the middle of
a crisis." (Yves Logghe) |
Pensioners gather in a protest against the government's austerity
measures, Thursday, Aug. 25 2011, outside the prime minister's
official residence in Lisbon. Portugal's European partners and the
International Monetary Fund lent it the money to prevent the
country going bankrupt but in return demanded a long list of
spending cuts and economic reforms. Poster hanging from the
umbrella reads "The government lied to the pensioners".
(Armando Franca) |
French President Nicolas Sarkozy, left, and German Chancellor
Angela Merkel, right, attend a meeting at the Elysee Palace, Paris,
Tuesday, Aug. 16, 2011. The leaders of Germany and France are
meeting Tuesday to discuss Europe's debt crisis as new figures
show their economies stalled even before the latest bout of turmoil
struck financial markets. (Patrick Kovarik, Pool) |
A traveller smokes next to a beggar outside a public office in central
Athens on Thursday, Aug. 11, 2011. Greece's Statistical Authority
says unemployment in the debt-ridden country jumped to 16.6
percent in May.The number of jobless stands at 822,719 in the
country of about 11 million people. The graffiti reads "pigs,
murderes" and "burn the parliament". (Dimitri Messinis) |
French President Nicolas Sarkozy, left, speaks during a special
meeting on the financial crisis with head of the French Central
Bank Christian Noyer, right, Finance Minister Francois Baroin,
second from right, and Prime Minister Francois Fillon, third
from right, at the Elysee Palace in Paris, Wednesday
Aug. 10, 2011. Sarkozy is interrupted his vacation to
hold an emergency government meeting about the uncertainty
on world financial markets. (Denis/Pool) |
A view of Milan's stock exchange headquarters is seen, Monday,
July 11, 2011. Finance ministers gathered in Brussels are debating
how to secure a private-sector contribution to a new Greek
package and how to prevent the debt crisis spreading to bigger
countries, including Italy. (Antonio Calanni) |
E.U. and Stock Exchange's flags fly outside the building of the
Greek Stock Exchange in Athens, Friday, Aug. 5, 2011. The
eurozone's debt crisis battered markets once again Friday,
challenging vacationing European leaders to find a way to keep
the turmoil from pushing Spain and Italy to a financial collapse
that would hit an already-waning global recovery. (Thanassis Stavrakis) |
A woman holding a handkerchief to her face to protect
herself from lingering tear gas passes by an elderly beggar
while, in the background, two workers replace broken
hotel windows in central Athens on Thursday, June 30,
2011. Rioters caused extensive property damage during
anti-government protests Wednesday while police riposted
with heavy use of chemicals. (Dimitri Messinis) |
A tourist with her luggage enters a luxury hotel in central Athens as
protesters demonstrate on Tuesday, Aug. 23, 2011. Dozens of
protesters have been picketing the entrance to three luxury hotels
on Athens' main Syntagma Square as part of a 24-hour strike by
hotel employees objecting to plans to cut their entitlement to early
retirement. The banner on the left reads in Greek "Hands off" the
'arduous and unhealthy' classification of professions.
(Petros Giannakouris) |
Opposition leader Mariano Rajoy, front row right, is greeted by his
party members after speaking during a extraordinary session at the
Spanish Parliament in Madrid, Tuesday Aug. 23, 2011. Spain's
prime minister and the opposition leader agreed to work on
amending the Constitution to limit the government deficit.
(Daniel Ochoa de Olza) |
Greek Prime Minister George Papandreou, left, talks with Greek
President Karolos Papoulias during their meeting in Athens, on Friday,
July 22, 2011. Eurozone countries and the International Monetary
Fund pledged Thursday to give Greece a euro 109 billion ($155 billion)
worth of rescue funds, on top of the euro 110 billion granted more
than a year ago. (Petros Giannakouris) |
People walk past a prostrate beggar at the entrance to the
Syntagma Square metro station in central Athens, Thursday,
Aug. 11, 2011. Greece's Statistical Authority says unemployment
in the debt-ridden country jumped to 16.6 percent in May.
The number of jobless stands at 822,719 in the country of
about 11 million people. (Dimitri Messinis) |
Pedestrians walk past the New York Stock Exchange on Friday,
Aug. 5, 2011 in New York. Fears that the economy might dip back
into recession helped send the Dow Jones industrial average down
513 points on Thursday. European leaders are struggling to contain
that region's debt problems, prompting comparisons to the 2008
financial crisis. Markets tumbled from Tokyo to London Friday
as overseas traders reacted to the selloff. (Jin Lee) |
Rep. Jason Chaffetz, R-Utah, sponsor of the "Cut,
Cap and Balance" deficit reduction plan that was passed
in the GOP-controlled House, walks through the Capitol
to get an update from the Senate on debt negotiations,
in Washington, Sunday, July 31, 2011. (J. Scott Applewhite) |
A beggar boy and a beggar rest near an entrance of a pedestrian
underpass near Beijing's Central Business District, China,
Thursday, April 28, 2011. (Alexander F. Yuan) |
A launching ceremony of the Severodvinsk nuclear-powered s
ubmarine is held at a defense shipyard in the Arctic port of
Severodvinsk, Russia, Tuesday, June 15, 2010. Russian
President Dmitry Medvedev attended the ceremony in S
everodvinsk. (RIA-Novosti, Vladimir Rodionov,
Presidential Press Service) |
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