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    European Business & Economy Headlines
    Economic storm clouds gather over EU tiger Lithuania (AFP)

    File photo shows an elderly woman giving two coupons for a discount to the cashier at a supermarket in Vilnius. Lithuania's general election Sunday comes as storm clouds gather over the EU AFP - Lithuania's general election Sunday comes as storm clouds gather over the EU "tiger" economy, with a long-running boom tailing off and grinding inflation hurting voters.


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    Fri, 10 Oct 2008 04:19:17 GMT - Yahoo! News: Business - European Economy
    European shares join global plunge as banks tumble (Reuters)

    A share trader reacts as he sits behind his trading terminals at the Frankfurt stock exchange, October 9, 2008. (Kai Pfaffenbach/Reuters)Reuters - European stocks tumbled at the open on Friday, tracking plunges in Asian and U.S. equities as investors feared world governments' attempts to unlock credit markets would not be enough to ward off a global recession.


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    Fri, 10 Oct 2008 07:30:36 GMT - Yahoo! News: Business - European Economy
    NATO mulls expanding its drug role in Afghanistan (AP)

    Hungarian Defense Minister Imre Szekeres, left, and his U.S. counterpart Robert Gates, right, with their delegates including American Ambassador to Hungary April H. Foley, 2nd right, have talks in Marriott Hotel, venue of the forthcoming two-day NATO defence ministers' meeting in Budapest, Hungary, Wednesday, Oct. 8, 2008. The meeting will start on Oct. 9 and will be attended by defence ministers of 42 countries, in addition to 700 foreign guests. (AP Photo/MTI, Szilard Koszticsak, Pool)AP - The United States on Thursday pushed NATO allies to order their troops to target Afghanistan's thriving heroin trade in a bid to stem the flow of drug money to the widening insurgency against the troubled international military mission.


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    Thu, 09 Oct 2008 11:31:24 GMT - Yahoo! News: Business - European Economy
    European markets rebound ahead of Wall Street open (AP)

    A South Korean woman talks over her phone near computer screens showing stock index at the Korea Exchange in Seoul. Global stock markets suffered another vicious sell-off in extremely volatile trade, as investors brushed off a coordinated round of interest rate cuts across the globe.(AFP/Jung Yeon-Je)AP - European markets shed some early gains Thursday ahead of Wall Street's opening, but remained in positive territory, with British banking stocks in particular enjoying a strong rally in the wake of the government's 500 billion pound (US$865 billion) rescue plan.


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    Thu, 09 Oct 2008 12:36:07 GMT - Yahoo! News: Business - European Economy
    London stocks slump (AFP)

    A woman walks past an electronic sign showing the progress of the FTSE 100 in London. The FTSE 100 index of leading shares closed down as a mid-day rally on stepped up government support for banks ran out of steam just before the close of trade.(AFP/File/Carl de Souza)AFP - The FTSE 100 index of leading shares closed down on Thursday as a mid-day rally on stepped up government support for banks ran out of steam just before the close of trade.


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    Thu, 09 Oct 2008 16:46:46 GMT - Yahoo! News: Business - European Economy
    Iceland suspends stock trading, creates new bank (AP)

    Iceland's  Prime Minister Geir H. Haarde, answers questions at  a press conference in Reykjavik, Iceland, on Wednesday Oct. 9, 2008.   Iceland suspended trading on its stock exchange for two days and took control of the country's largest bank  the third to be placed under its protective umbrella  on Thursday as it grappled with a banking crisis that is threatening to engulf the entire country. The Nordic nation's government also used sweeping new emergency powers to create a new bank that will take over the bulk of the domestic operations of another one of its collapsed banks. (AP Photo/Arni Torfason)AP - Iceland suspended trading on its stock exchange for two days and took control of the country's largest bank — the third to be placed under its protective umbrella — on Thursday as it grappled with a banking crisis that is threatening to engulf the entire country.


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    Thu, 09 Oct 2008 17:15:45 GMT - Yahoo! News: Business - European Economy
    World markets slide again despite shock rate cuts (AP)

    Traders work on the floor of the Brazilian Mercantile and Futures Exchange in Sao Paulo, Wednesday, Oct. 8, 2008. Latin American stocks fell Wednesday for the third day in a row on fears that a recession is gripping the planet and will hurt Latin America's largest economies. Brazil's Ibovespa index plunged 5.1 percent when trading opened but then recovered most of the lost ground and was down 0.8 percent to 39,834 in late morning trading. The losses led Latin American markets and came on top of a 4.5 percent plunge Tuesday. (AP Photo/Andre Penner)AP - World stock markets swooned once more Wednesday as concerns about the state of the global economy outweighed a coordinated rate cut by top central banks aimed restoring confidence in the world's crisis-stricken financial system.


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    Wed, 08 Oct 2008 21:59:49 GMT - Yahoo! News: Business - European Economy
    Iceland plunges further into financial turmoil (AP)

    Iceland's Prime Minister Geir H. Haarde, speaks at a press conference as Minister of Commerce Bjorgvin Sugurdsson looks on in background,  in Reykjavik, Tuesday, Oct. 7, 2008.  Iceland nationalized its second-largest bank on Tuesday under day-old legislation and negotiated a euro4 billion (US$5.4 billion) loan from Russia to shore up the nation's finances amid a full-blown financial crisis. The moves came a day after trading in shares of major banks was suspended, the Icelandic krona lost a quarter of its value against the euro, and the government rushed through emergency legislation giving it new powers to deal with the financial meltdown.  Prime Minister Haarde warned late Monday that the heavy exposure of the tiny country's banking sector to the global financial turmoil raised the spectre of 'national bankruptcy.'  (AP Photo/Arni Torfason)AP - Iceland plunged further into financial turmoil — and muddled into a diplomatic spat with Britain over its handling of the crisis — on Wednesday as the country's third-largest bank went into receivership and the government abandoned attempts to put a floor under its free-falling currency.


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    Wed, 08 Oct 2008 19:31:47 GMT - Yahoo! News: Business - European Economy
    Brown urges EU to match guarantee of inter-bank lending (AFP)

    Prime Minister Gordon Brown, seen here addressing a press conference at 10 Downing Street, wrote to EU leaders Wednesday to urge them to follow Britain in guaranteeing loans between banks, proposing a AFP - Prime Minister Gordon Brown wrote to EU leaders Wednesday to urge them to follow Britain in guaranteeing loans between banks, proposing a "European-wide funding plan" to help ease the financial crisis.


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    Wed, 08 Oct 2008 19:58:44 GMT - Yahoo! News: Business - European Economy
    Laureates: Financial crisis may hit AIDS funding (AP)

    Winners of the Nobel Prize of medicine French scientists Francoise Barre-Sinoussi, left, and Luc Montagnier speaks to reporters after their meeting with French President Nicolas Sarkozy at the Elysee Palace in Paris, Wednesday Oct. 8, 2008.Barre-Sinoussi and Montagnier of France were cited for their discovery of HIV, the virus that causes AIDS, in 1983 and with Germany's Harald zur Hausen, who found that certain human papilloma viruses (HPV) cause cervical cancer, the second most common cancer among women worldwide.(AP Photo/Michel Euler)AP - Two French researchers who shared the Nobel Prize in medicine for discovering the AIDS virus are voicing fears that the world financial crisis will hurt funding to fight the disease.


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    Wed, 08 Oct 2008 20:32:21 GMT - Yahoo! News: Business - European Economy
    European central banks offer combined $120 billion (AP)

    The Euro sculpture is photographed through the logo of the European Central Bank ECB in front of the ECB in Frankfurt, central Germany, on Thursday, Oct. 2, 2008. The ECB cuts main interest rate half a point to 3.75 percent on Wednesday Oct. 8, 2008. (AP Photo/Daniel Roland)AP - European central banks continued to push liquidity at the financial sector Thursday, offering $120 billion to prop up lending between banks.


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    Thu, 09 Oct 2008 07:51:56 GMT - Yahoo! News: Business - European Economy
    NATO mulls expanding its drug role in Afghanistan (AP)

    Hungarian Defense Minister Imre Szekeres, left, and his U.S. counterpart Robert Gates, right, with their delegates including American Ambassador to Hungary April H. Foley, 2nd right, have talks in Marriott Hotel, venue of the forthcoming two-day NATO defence ministers' meeting in Budapest, Hungary, Wednesday, Oct. 8, 2008. The meeting will start on Oct. 9 and will be attended by defence ministers of 42 countries, in addition to 700 foreign guests. (AP Photo/MTI, Szilard Koszticsak, Pool)AP - The United States on Thursday will push NATO allies to order their troops to target Afghanistan's thriving heroin trade in a bid to stem the flow of drug money to the widening insurgency against the troubled international military mission.


    -- read full article
    Thu, 09 Oct 2008 07:55:14 GMT - Yahoo! News: Business - European Economy
    French minister: Paulson made 'mistake' on Lehman (AP)
    AP - U.S. Treasury Secretary Henry Paulson made a mistake by letting investment bank Lehman Brothers fail, France's finance minister said Wednesday. -- read full article
    Wed, 08 Oct 2008 09:36:13 GMT - Yahoo! News: Business - European Economy
    European markets tumble after Asian slide (AP)

    Passersby look at a chart showing sharp drop of Japanese stocks in front of a Tokyo brokerage Wednesday, Oct. 8, 2008. Japan's stock market plummeted 9.4 percent — its biggest one-day drop in 21 years — Wednesday as investors rushed for the exits on deepening fears over the global financial crisis. The benchmark Nikkei 225 index nose-dived 952.58 points to 9,203.32, a five-year low. (AP Photo/Katsumi Kasahara)AP - European markets tumbled in early trading Wednesday amid ongoing fears about the state of credit markets despite the British government's 50 billion pound ($87.5 billion) rescue package for the banking system. In Asia, Japan's Nikkei suffered its worst day since the 1987 stock market crash.


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    Wed, 08 Oct 2008 10:24:11 GMT - Yahoo! News: Business - European Economy
    British government steps in to help banks (AP)
    AP - The British government announced a 50 billion pounds ($87.5 billion) plan on Wednesday to partly nationalize major banks, with taxpayers taking stakes in a bid to shore up a financial sector hard hit by the world financial crisis. -- read full article
    Wed, 08 Oct 2008 10:49:45 GMT - Yahoo! News: Business - European Economy
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