Europe
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    The Greek statistical authority says the country's deep recession has eased slightly, although the economy still contracted 6.2 percent in the second quarter from the same period last year.

     
    LAST UPDATE : Aug 21, 2012, 6:13 PM EDT
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  • The Olympics brought less tourist money to recession-hit Britain than businesses had hoped for, a trade group said Monday, with a majority of tourist companies reporting losses from last year.

    LAST UPDATE : Aug 21, 2012, 5:13 PM EDT
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  • Brent crude rose above $114per barrel on Monday to its highest in more than three months on worries about a disruption in supply from the Middle East.

    LAST UPDATE : Aug 21, 2012, 5:13 PM EDT
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  • Rail workers protest against the government's privatization plans at Sants railway station in Barcelona, Spain, Friday, Aug. 3, 2012. The strike, which started at midnight yesterday and coincides with the departure of many for the summer holidays, is organized by employees of Renfe and Adif, the two public railway companies.

    Imagine the interest rate on your mortgage going up and up until you can barely meet the monthly installments. How long do you hold on, scrimping and saving, before you throw in the towel?

    That is the dilemma facing Spain, whose Prime Minister Mariano Rajoy is fighting to prevent his country becoming the latest — and biggest — victim of the economic crisis crippling the 17 countries that use the euro and ask for a full-blown government bailout.

    LAST UPDATE : Aug 21, 2012, 2:27 PM EDT
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  • ATHENS, Greece (AP) — Greek authorities are to auction €3.125 billion ($3.83 billion) in short-term debt to help pay off a €3.2 billion bond repayment due on Aug.20.

    The country's Public Debt Management Agency announced Friday that the auction for 13-week T-bills would be held on Aug. 14. The decision allows Greece to avoid having to seek emergency funding on top of the bailout loans it receives from the Europe and International Monetary Fund.

    The €3.2 billion ($3.93 billion) bond that matures Aug. 20 is held by the European Central Bank.

    LAST UPDATE : Aug 21, 2012, 12:17 PM EDT
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  • Spanish police say they have arrested five left-wing union activists for their alleged role in a "Robin Hood"-style looting of a supermarket made to highlight the plight of people suffering through the country's recession.

    LAST UPDATE : Aug 21, 2012, 12:17 PM EDT
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  • Norway's vast oil fund saw a decline of 2.2% in the second quarter, losing 77 billion kroner ($13 billion) in the period, mainly because of investors' concerns over the global economy.

    LAST UPDATE : Aug 21, 2012, 12:17 PM EDT
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  • Libor benchmark interest ratesare no longer "fit for purpose" and must be changed or replaced, Britain's regulator said on Friday.

    LAST UPDATE : Aug 21, 2012, 12:17 PM EDT
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