As if Europe didn't have enough on its plate, it now faces a big drop in the price of one of its biggest exports, olive oil. Seventy percent of the world's olive oil supply comes from Spain, Greece and Italy.

People in northern Italy are still dealing with the aftermath of the earthquake this week that killed seven. It struck hardest in some of Italy's richest farmland and ten percent of the world's supply of Parmesan has been affected.

U.S. stocks had their worst day of the year yesterday, in part because analysts say the European debt crisis is back after months of relative calm.

Yep, that’s trillion with a “T”.

What will the future hold for the cruise ship industry after a tragedy off the Italian coast?

In Greece, tax collectors are on strike to protest benefit cuts while in Italy, the government was able to borrow $9 billion to help pay for services, but banks willing to lend also demanded a high return.

Iran has repeated its threat to block the Straight of Hormuz where about a-fifth of the world's oil passes through. In Italy today, investors seemed happy to buy up the country's debt.

A vote today in Italy passes a round of austerity measures suggested by newly appointed Prime Minister Mario Monti. But is it enough to make a dent in the problem?

The new leader of Italy has announced a plan for tax increases and spending cuts to deal with the ongoing debt crisis in the country