Prostitution, drug trafficking and other illegal activities have finally been included in Spain's gross domestic product, boosting it by 9 billion euros according to the latest statistics. Latest data from the National Statistics Institute (INE) reveals the drug trade, prostitution, illegal weapon sales and gambling contributed some €9 billion, or 0.87 percent of country’s total GDP in 2013 [...]

An independent Flanders with Brussels as its capital will be best for the Flemish people who represent 60 percent of the Belgium population, and provide 80 percent of its economy, Flemish MP Tom van Grieken told RT. Following in the footsteps of Scotland, Veneto in Italy and Catalonia in Spain, and Belgium’s Flemish region may become the next to hold a referendum on independence. [...]

When you think of how happy people in a whole country are, what do you take into account? True, country well-being and perception of own happiness depend greatly on the economic situation. But it's Panama that tops Gallup's Global Well-being Index. The Gallup-Healthways index, released for the year 2013, puts the Latin American country at number one, with war-torn Syria and Afghanistan coming i [...]

Westminster party leaders have signed a joint pledge promising “extensive new powers” for the Scottish parliament if voters reject independence in Thursday’s referendum. Prime Minister David Cameron, Deputy Prime Minister Nick Clegg and Labour party leader Ed Miliband offered their pledge in a letter published on the front page of Scotland’s Daily Record newspaper on Tuesday. [...]

Imports of Western cars and clothes into Russia could be restricted as part of a second round of "retaliatory" measures prepared in response to the sanctions against Moscow, says presidential aide Andrey Belousov. There are many sellers of non-agricultural goods in the West who are heavily dependent on the Russian market, the official said. [...]

MPs’ staff, travel and accommodation costs reached £103 million last year, up from £99 million the previous year and £95 million in 2009 – the peak of the parliamentary expenses scandal. More than £80 million was spent on staff salaries and £11 million on office costs. The bill for accommodation, covering hotels, rented homes and utility bills, was £6.9 million, while £4.5 mill [...]

Arms producer Kalashnikov and oil giant Rosneft are among Russian companies hit by a new round of EU sanctions, which have come into effect Friday morning upon being published in the EU Official Journal. The sanctions target the finance, energy and defense sectors. The union has restricted three Russian energy companies from raising long-term debt on European capital markets – Rosneft, Transn [...]

A group of high-profile trade unions have backed a growing campaign opposed to a new transatlantic trade deal critics claim will make the privatization of Britain's National Health Service (NHS) irreversible. Three of the UK’s largest unions have tendered motions to the Trade Union Congress (TUC) in Liverpool, outlining their opposition to the cross-border agreement currently being negotiated [...]

Christine Lagarde, head of the International Monetary Fund (IMF) has urged Germany to increase spending to spur the eurozone's flagging economic recovery, and said that a number of structural reforms are needed to revive the bloc’s growth. "We think that public or private investment (in Germany) to finance infrastructure would be welcome," Lagarde told French daily Les Echos in an interview o [...]

The widening gap between America's richest and the middle and working classes is unsustainable and is unlikely to improve a survey released on Monday by the Harvard Business School has found. The study which is called “an economy doing half its job” said that while large American companies were showing signs of recovery and were maintaining their competitive edge on the world stage, many mi [...]

A 2009 intelligence document provided to journalists by former government contractor Edward Snowden suggests the United States weighed someday conducting espionage to prevent losing its economic prowess to other countries. The document, published first by The Intercept on Friday this week, outlines tactics the American intelligence community may implement in the future in the event of certain s [...]

Nearly 500 protesters were arrested in three dozen US cities on Thursday as fast-food workers and supporters staged sit-ins and acts of civil disobedience nationwide to call attention to their low wages and lack of union representation. Organizers of the strike said that, all told, actions at fast-food restaurants occurred at about 150 cities nationwide, from Manhattan’s Times Square to Littl [...]

Financing the military offensive in eastern Ukraine is now proving to be a major economic headache for Kiev. The cost of rebuilding conflict-torn eastern Ukraine may reach $8 billion, Prime Minister Arseny Yatsenyuk has indicated. As long as the military offensive in the east continues, Ukraine has to further dig into its fast-depleting state coffers to support the operation. If the war continu [...]

The first Eastern European EU president, Donald Tusk faces difficult times ahead – and few credentials to suggest he is up to the job... Polish Prime Minister Donald Tusk will chair EU meetings as President of the European Council, with many hoping he will prove to be a pragmatic counterweight to the divisive Jean-Claude Juncker, who by his own admission held the Eurozone together with a tiss [...]

Growth in Germany contracted 0.2 percent in the second quarter, the first fall in over a year, stoking worries Europe's biggest economy is slowing down, as the Ukraine crisis and weaker trade drag down what was once a glowing model for the rest of Europe. The seasonally-adjusted gross domestic product (GDP) from April to June was confirmed Monday by Germany's Federal Statistics Office to have d [...]

The International Monetary Fund has given a green light for Ukraine to receive the second tranche of financial assistance totalling $1.39 billion, meaning more austerity measures for the already struggling economy. “The Executive Board of the International Monetary Fund (IMF) today completed the first review of Ukraine’s performance under an economic program supported by a Stand-By Arrangem [...]

The Ukrainian crisis has two closely intertwined dimensions: a domestic one and an external one, both testifying to the failure to manage the process correctly. Both provide abundant material for a study in abject mismanagement, with the lessons of European history consigned to oblivion. [...]

A New Jersey woman who worked four jobs, who sometimes "wouldn't sleep for five days," according to a co-worker, died Monday while napping between shifts in her car on the side of the road. Maria Fernandes died in her 2001 Kia Sportage after inhaling carbon monoxide and fumes from an overturned gas container she kept in the car, according to the New York Daily News. [...]

The road to the Minsk summit this past Tuesday began to be paved when German Chancellor Angela Merkel talked to ARD public TV after her brief visit to Kiev on Saturday. Merkel emphasized, “A solution must be found to the Ukraine crisis that does not hurt Russia.” She added that "There must be dialogue. There can only be a political solution. There won't be a military solution to this con [...]