On Sunday, German voters will go to the polls. Victory for Chancellor Angela Merkel seems certain. One unpredictable element, however, is the fate of a party that wants to exclude the Eurozone's economically struggling members from the bloc.
European unemployment hit a new record high in April. 12.2 percent, or about 20 million people, across the 17 countries that use the euro are out of work.
France today entered a double-dip recession. It depends on exports to Italy and Spain and they, like many eurozone nations, are still feeling the pinch. Europe's slump is dragging down the global economy.
Cyprus is in turmoil following the decision last night by its parliament to reject a bailout plan from the eurozone. The plan entailed a one-off tax of up to 10 percent on Cypriot bank accounts.
Voters in Switzerland have approved a referendum to curb executive pay. The move comes less than a week after the European Union announced plans to cap banker bonuses.