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Felix Oldenburg

Felix Oldenburg

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Will Greece be able to meet the criteria of the Stability and Growth Pact and reduce its annual budget deficit below 3% of GDP by 2012?

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	Europe French voters hand President Sarkozy a drubbing in regional elections French President Nicolas Sarkozy's center-right bloc suffered a bitter defeat in regional elections on Sunday. Early returns signaled that his conservative UMP alliance lost all but one or two electoral districts. Europe Iceland volcano leads to cancelled flights, evacuations The sudden eruption of a volcano near a glacier in Iceland has led to evacuations and the rerouting of local and international flights. Germany German authorities launch massive tax evasion probe State prosecutors are investigating around 1,100 customers and staff of Credit Suisse's operations in Germany on suspicion that the Swiss bank has hidden client money from the tax authorities.