Last year, some Spanish farmers were shocked to find their tax bills increase by as much as 30 thousand percent. Some got rich as housing prices skyrocketed. Others are now faced with losing their land.
German lawmakers have voted to back the second EU/IMF bailout for Greece. Until now, most German politicians have been saying Greece must stay in the eurozone. However, some might now be changing their tune.
The latest bailout deal for Greece provides it with about 170 billion dollars in loans to prevent a default. In return, Greece has to make additional budget cuts on top of painful austerity measures already in place.
If Greece left the eurozone, the impact on the US economy would be profound. That's according to Simon Johnson, a professor at MIT's Sloan School of Management. He says US officials aren't doing enough to shield Americans from the damage.
Among the many issues President Obama highlighted in last night's State of the Union address was trade with China. He announced the creation of a Trade Enforcement Unit that will look into unfair trade practices in places like China.
The recession in the US is technically over. GDP grew at a rate of 3.5% in the last three months ending in September. But there's a growing cadre of economists who say GDP has outlived its usefulness as a gauge of economic health. Jason Margolis has more.
In Spain, the economic crisis is hitting small towns particularly hard. Now, basic public services such as trash pick-up are going neglected in places such as the village of Collbato, in northeast Spain. The World's Gerry Hadden has the story.
Germany's new conservative ruling coalition is proposing steep tax cuts to help end the economic crisis. That's sending the deficit soaring. A group of very rich citizens says it wants to help bridge the growing gap. The World's Gerry Hadden reports.
More Americans are looking for work than in 26 years. The dollar keeps getting weaker. But for foreign companies looking to invest in the United States, America looks pretty attractive.The World's Jason Margolis profiles one state: Mississippi.
After this year's rush to stock up on the H1N1 vaccine some countries are now trying to unload millions of stockpiled doses. Governments are being criticized for overreacting and overspending against the disease. The World's Gerry Hadden reports.
Was it worth it? That's the question many people are asking in British Columbia with the Olympics just days away. Seven years of planning, construction, and hassle. The World's Jason Margolis visited British Columbia to ask.
Starting this winter, residents of Sydney, Australia are getting some of their drinking water from a brand new desalination plant. The plant was built after years of erratic rainfall. Phil Mercer reports from Sydney.
The North Korean government recently knocked two zeros off its currency, the won. And it ordered citizens to turn in their old cash savings. The move caused panic and riots. Katy Clark talks with Marcus Noland who is an expert on North Korea's economy.