In a report, the International Monetary Fund said Greece's recession and unemployment problems were more severe than anticipated. But the report added that the overall bailout was a success because it prevented the country's economic troubles from spilling over to the rest of Europe.

This week, the European Union gave some of its member nations more time to meet deficit-reduction targets 鈥� in other words, to ease back on austerity. The programs have crushed growth and sent European unemployment to a record high 12 percent.

Although the European Union is lifting its embargo, EU nations say they do not now have plans to send arms to those fighting the regime of Syrian President Bashar Assad. Still, Russia is critical of the decision and says it will follow through on plans to send additional arms to Assad's military.

But Britain has "no immediate plans to send arms to Syria," says Foreign Secretary William Hague. The EU will continue its sanctions against Bashar Assad's government, which had been set to expire on June 1, Hague said.

Los Angeles is home to a large slice of the world's bluejeans trade. But as the U.S. apparel industry continues to shrink, the city's high-end bluejeans business faces a threat. The European Union has imposed a nearly 40 percent tariff, which could cripple the city's jean business.

Portugal's creditors are evaluating the country's latest austerity package, which includes 30,000 public sector layoffs, to determine whether Lisbon might need a second international bailout. The Portuguese government is raising the retirement age and lengthening work weeks to try to squeeze out more revenue, and repay its bailout loans.

The deal, which totals $30 billion, includes harsh austerity measures that are unpopular among many Cypriots.

Greek lawmakers approved emergency plans to cut 15,000 government jobs by the end of next year. They have to do it in order to receive more European Union bailout funds.

Spain's jobless rate has exceeded even the most dire predictions. As Prime Minister Mariano Rajoy prepares to release a slate of economic changes, Spaniards are hoping he will heed their calls for mercy after years of budget cuts and austerity.

Among other things, the tech giant says it will more clearly label results from its own services and more prominently display competitors' results.