EuropeanUnion

On Friday, Greece reached a deal to "restructure" its national debt downward by about $133 billion. That's the biggest sovereign restructuring in world history. But don't worry. According to Fed Chairman Ben Bernanke, it's no big deal for the U.S.

With much at stake for the U.S., President Barack Obama said Thursday that the most important task for world leaders gathered at an economic summit in France was to resolve the European financial crisis. The EU had taken important steps toward a solution, the president said, but "we're going to have to flesh out more of the details about how the plan will be fully and decisively implemented."

Value-added taxes are big revenue generators in Europe, but if you're not a local person or business, you're supposed to be able to get them refunded. Tell that to the almost 72% of companies spending money overseas that have had trouble getting their VAT refunds or the 21% that have been unable to reclaim any VAT at all.

European antitrust officials raided drugmakers including AstraZeneca Plc (AZN) as part of an investigation into possible collusion to keep cheap generic medicine off the shelves. The European Commission said it raided a "limited number" of pharmaceutical companies that may have obstructed the...

Consumer goods company Unilever (UL) won approval from the European Union to buy Sara Lee Corp's (SLE) shower gel and European detergents business. Unilever agreed to sell off the Sanex deodorant and body-wash brands in the region as part of the deal, Bloomberg News reported. The sale allays...

Euro-zone countries should prepare to implement more measures aimed at cutting "excessive deficits" if economic growth disappoints, the European Central Bank said. The 16 members of the euro-zone should "be prepared to accelerate consolidation where necessary to correct their excessive deficits,"...

America's economy is in the tank, leaving many stocks at rock-bottom prices. But if you don't want to stomach the U.S. stock market and would rather jump across the pond to see if things will get better in Europe, now is a good time as stocks are also falling there. Although Europe is also in a...

As gas prices in the U.S. continue their steady march upward, the news is filled with stories about the way that it's changing our lives. As we hear every night, people are finding cheaper ways of getting to work, cutting down on trips to the grocery store, buying locking gas caps, and even...