European Parliament

Eurozone Jobless Rate Stuck at Record High 11.3% in July

The combination of harsh austerity and high uncertainty kept unemployment across the 17-country eurozone at a record high 11.3 percent in July. The data, reported by Eurostat Friday, underscores the huge task the continent's leaders face to restore confidence in its economy.

European Commission Unveils Planned Debt Rules

The European Commission presented plans to punish countries whose excessive debt levels pose a potential risk to the euro. The proposals include automatic fines for countries that mismanage their finances and economies, BBC News said.

European Parliament Undermines Banker Bonuses

The European Parliament has reportedly moved to reform the system of paying investment bankers, approving new rules that will require between 40% and 60% of bank bonuses to be deferred for at least three years, and giving governments the ability to claw back bonuses on deals that go bad.