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m i economic other economies economy european union News From AOL News

EU Says Portugal Needs About $114 Billion in Aid

GODOLLO, Hungary -- Europe's top financial officials said Friday that Portugal will need around euro80 billion ($114 billion) in rescue loans, but a tense election campaign in the debt-ridden country is set to complicate reaching a deal with opposing political parties. A full-fledged adjustment program should be in place...

Portugal Seeks Bailout, Europe Debt Crisis Spreads

LISBON, Portugal -- Portugal asked for a bailout Wednesday to relieve its crushing debt, joining Greece and Ireland by becoming the third European nation to ask for outside help amid a bruising European financial crisis. Prime Minister Jose Socrates went on national television to announce that Portugal must take...

500,000 Pack Dublin for St. Patrick's Day Parade

DUBLIN -- More than 500,000 people packed the heart of Dublin for an unusual St. Patrick's Day parade today that pointed out Ireland's current gloomy mood -- and sought to sweep it away for a day. The hourlong procession was the largest of 120 across Ireland, a nation reeling from a three-year recession and a debt crisis...

EU to Apply Stress Tests on Its Nuclear Plants

BRUSSELS -- Shocked into action by Japan's atomic crisis, European energy officials agreed Tuesday to apply stress tests on nuclear power plants and Germany moved to switch off seven aging reactors - one of them permanently. The European Union's energy chief called for a reassessment of the 27-nation bloc's energy policy,...

Enda Kenny Elected Ireland's Premier, Faces Debt Crisis

DUBLIN -- Ireland's new parliament elected soft-spoken Enda Kenny prime minister Wednesday to lead a coalition government that faces immediate pressure to revive the nation's debt-crippled economy. Kenny, 59, vowed to solve a bank-bailout crisis that has overwhelmed Ireland's finances and required an emergency rescue by...