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  • People demonstrate to say ''no to austerity'', in Brussels. Police threw a ring of steel around EU headquarters as tens of thousands in a sea of banners from across Europe took to the streets in a worker backlash against painful spending cuts. The protest, the biggest such march since 2001 when 80,000 people invaded the Belgian capital, was timed to coincide with an EU plan to fine governments running up deficits.

    Despite mounting public protests across the Continent, an austerity drive unparalleled in modern, united Europe is building, reports the New York Times.

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    Every week without fail Lucy Elkin, a comfortably middle-class mother of two small children, receives a £33.20 child benefit payment, or about $52, from the debt-plagued British government, reports the New York Times.

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    In two weeks, Alexandra Mallosi, 29, will be packing her bags and leaving the quiet Athens suburb of Holargos for Abu Dhabi to start a job as a hotel sales manager. It was not a tough decision, reports the New York Times.

  • Traders work on the floor of the New York Stock Exchange.

    The Swiss franc's safe-haven reputation helped it hit a new high against the euro, but the currency's strength risks hurting those who have relied on its vigor.

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    For years, Anissa Benchamacha bought her meat in a parking lot, from vendors hawking near-expired products to Muslims eager to find food that met their religious requirements.

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    Struggling to reduce traffic jams and a high crime rate, Maastricht is pushing to make its legalized use of recreational drugs a Dutch-only policy, banning sales to foreigners who cross the border to indulge.

  • Switzerland

    The central bank reported that it lost 4.2 billion Swiss francs ($4.0 billion) in the second quarter, partly from its bid to check the rise of the Swiss franc against the weakening euro.

  • Stonehenge, England

    The prehistoric monument of Stonehenge stands tall in the British countryside as one of the last remnants of the Neolithic Age. Recently it has also become the latest symbol of another era: the new fiscal austerity. The NYT reports.

  • Budapest, Hungary

    The governor of the Hungarian Central Bank has it worse than most. Not only has the new government placed the blame on him, among others, for Hungary's stagnant economy, it has slashed his salary by 75 percent. The NYT reports.

  • Map of Europe

    A week after the authorities released results of stress tests on the largest European banks, market data is starting to provide an indication of whether the exercise had the desired effect on confidence. The answer: sort of. The NYT explains.

  • United States Federal Reserve

    Fears over a double-dip recession for the global economy are waning, but investors should be more worried about ultra-loose policy from the Federal Reserve, according to Joachim Fels, the co-head of economics at Morgan Stanley.

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    Gold and oil prices are flashing warning signals that this summer may look more like the summer before the collapse of Lehman Brothers, a currency strategist warns.

  • Following last week's European Union stress test results and news that Basel III liquidity rules have been watered down, one analyst said it could be time to get back into a number of European banking stocks.

  • Zurich, Switzerland

    The Swiss economy has not only recovered from the global recession of 2009 but so far also coped well with the recent spike in an already strong currency.

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    Under the terms of the deal with the US, the Swiss have until August to turn over the names, but only if the Swiss parliament signs off.

  • Switzerland

    The key to competing globally consists of using the natural and unnatural advantages your country has to go up against other nations.

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    If the European Central Bank has one monetary dragon it considers essential to slay, it is inflation.

  • Swiss Bank

    As Swiss lawmakers appear poised to resolve a tax dispute between UBS and Washington, one thing is becoming clear: an end to absolute banking secrecy will change the country’s pre-eminent financial sector. The New York Times reports.

  • Euro bills and coins in cash register tray

    Greece announced Sunday a long-delayed rescue package that will require years of painful fiscal belt-tightening, but the deal probably will not defuse the potential threats to other European countries, The New York Times reports.

  • Euro bills and coins in cash register tray

    Greece announced Sunday a long-delayed rescue package that will require years of painful fiscal belt-tightening, but the deal probably will not defuse the potential threats to other European countries, The New York Times reports.