Brendan O'Connor · 07/04/15 12:30PM

“The European financial system was architected to make lending to Greece — and Spain and Portugal and Italy — a money machine for bankers... [who] understood perfectly well that there was in fact a long-term risk, an uncertainty, a constructive ambiguity.” Gosh, this all sounds awfully familiar.

Russia Will Ban All American and Most E.U. Foods From the Country

Enid Shaw · 08/06/14 09:07PM

Like an escalating war between the two most passive-aggressive roommates on Earth, Russia has responded to sweeping U.S. and European Union sanctions by refusing to allow our fruits and vegetables to tarnish its section of the fridge.

E.U. Demands Cypriots Pay Up

Max Read · 03/18/13 07:30AM

Eurozone finance ministers are demanding a one-time levy on bank deposits of all sizes—even on insured accounts—as part of a bailout package for Cyprus, which is teetering on the brink of bankruptcy. Cypriots sprinted to banks and ATMs this weekend, waiting in long lines to withdraw cash after hearing about the plan on Saturday; if approved by Cyprus' parliament, it would mark the first time ordinary European depositors would be asked to take a haircut for a bailout plan. The levy would take 6.7 percent for deposits of less than 100,000 Euros and 9.9 percent for those above, and while more progressive plans have been floated, as it stands right now "[t]his is a conscious choice to make poorer people pay to help richer ones," The Financial Times writes. Why lean on the little guy? In all likelihood to preserve the island nation's status as an offshore haven for, in particular, Russian businessmen. Still, the tax is far from being assured: it's unclear whether President Nicos Anastasiades has the necessary majority to approve the plan, and the vote has been delayed until tomorrow. [Financial Times | NYT | Reuters | image via Getty/AFP]

Britain Is Europe's Cocaine 'League' Leader

Jeff Neumann · 11/10/10 06:52AM

A new report by the EU's drug agency places Britain on top of the world's cocaine consuming nations, with more young Britons having used cocaine than Americans in the same age group. There's also been an increase in crack smoking.