MADRID (AP) ― The number of people officially registered as unemployed in Spain has edged up toward 5 million as the country’s recession shows few signs of abating and its struggling banks await crucial bailout cash.Spain’s Labor Ministry said Tuesday that unemployment rose a monthly 74,296 in November, or 1.5 percent, to a record 4.9 million. The country’s unemployment rate is released separately and quarterly. It stood at 25 percent at the end of the third quarter, with the youth unemployment

BRUSSELS (AFP) ― Plans to create a “banking union” across eurozone and European Union borders collapsed Tuesday amid intractable wrangling between Berlin, London and Paris.After four hours wrestling with deep problems in the design of an initial supervisory regime, Cypriot Finance Minister Vassos Shiarly, who is chairing the talks, announced that more time was needed and called a fresh gathering on Wednesday, Dec. 12.“It is only a question of a little bit more time perhaps before we can achieve

BERLIN (AP) -- An international watchdog group says a new survey shows the countries worst hit by the European financial crisis are also seen as among the most corrupt in the European Union.Transparency International's annual Corruption Perceptions Index released Wednesday shows Spain, Portugal, Italy and Greece with the lowest scores in western Europe.Where 0 is ``highly corrupt'' and 100 is ``very clean,'' Greece scored a 36, Italy 42, Portugal 63 and Spain, 65.By comparison, Denmark and Finla

LYON (AFP) ― France and Italy on Monday vowed to press ahead with a controversial 26 billion euro high-speed rail line through the Alps despite doubts over EU financing for a tunnel at the centre of the project.In a move intended to underline their commitment to the link, transport ministers signed a joint declaration on the financing of the 57-kilometer tunnel, which will account for one third (8.5 billion euros) of the total costs.The accord provides for Italy to cough up 2.9 billion euros ($3

The International Monetary Fund endorsed nations’ use of capital controls in certain circumstances, making official a shift, which has been in the works for three years, that will guide the fund’s advice. In a reversal of its historic support for unrestricted flows of money across borders, the Washington-based IMF said controls can be useful when countries have little room for economic policies such as lowering interest rates or when surging capital inflows threaten financial stability. Still, i

WASHINGTON (AP) ― Republicans in Congress put forth a “fiscal cliff” counteroffer to President Barack Obama on Monday, calling for cuts to popular social programs and no tax hikes for the wealthy ― an offer that was swiftly panned by the White House, which declared the Republicans still weren’t ready to “get serious’’ as a massive package of automatic tax increases and spending cuts looms. With the clock ticking toward a Dec. 31 deadline, the impasse means the White House and a divided Congress

Eurogroup head Jean-Claude Juncker announced late Monday that he is stepping down as eurozone finance ministerial chairman as of the end of the month.The Luxembourg prime minister -- Europe's longest-serving national leader -- said he informed colleagues that he would carry out his stated intention to step down "at the end of this year, or the beginning of next year."Juncker has held the post as Eurogroup head since 2005, and his current term officially runs until July 17.He has previously been

BERLIN (AP) ― Germany no longer rules out the possibility of forgiving Greece some of its debt once the country’s finances are in order, Chancellor Angela Merkel said, signaling a softening of her government’s tough stance on Greece.The question of debt forgiveness, or a “haircut,” can be revisited after the current bailout program will be successfully concluded and the government in Athens no longer takes on new debt, Merkel said in an interview with the German Sunday tabloid Bild am Sonntag.Me