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491. Hollande In, Sarkozy Out in France; Ruling Parties Lose in Greece
French and Greek voters delivered a sharp rebuke to their governments in national elections Sunday, raising questions about the viability of the European Union's austerity program intended to preserve the euro as Europe's dominant currency.
492. ECB Keeps Rates on Hold Amid Downbeat Economic Outlook
The European Central Bank (ECB) left interest rates on hold at their historic low of 1 percent Thursday, despite fresh pressure on the bank to step up its action to combat the eurozone debt crisis and faltering economic growth.
493. Job Reports at Home and Abroad Bring Stocks Down
Stocks fell Wednesday, dragging the Dow Jones industrial average down from its highest level since 2007, as data showed companies added fewer jobs than economists projected and eurozone unemployment rose to a 15-year high.
494. Eurozone Jobless Rate Hits 10.9%
The 17 countries that use the euro are facing the highest unemployment rates in the history of the currency as recession once again spreads across Europe, pressuring leaders to focus less on austerity and more on stimulating growth.
495. Crude Oil Hovers, Gold Backslides
The price of crude oil in New York held near $105 per barrel, while the national average for a gallon of gasoline continued a downward trend. Meanwhile, gold and silver dipped.
496. Greek Protesters Denounce Austerity On May Day Rallies As Election Nears
Thousands protesters denounced austerity in peaceful rallies in central Athens on Tuesday, as part of the annual international May Day mobilizations for workers' rights, a few days before the crucial parliamentary elections to be held on May 6.
497. The Battle Between Austerity and Expansion
As the political campaign season intensifies in the United States, analysts agree the economy will be the most significant issue.
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