European finance ministers struck a major new deal over their debt crisis. They agreed that the European Central Bank -- Europe’s equivalent of the Fed -- should take over the supervision of the continent’s biggest banks.

European Union leaders are gathering in Brussels to hammer out a budget for the EU. And the task will not be easy with the continent still trying desperately to claw its way out of debt.

The Spanish government is suspending foreclosures for the neediest homeowners just a week after a woman there committed suicide when officials arrived at her apartment to seize it.

Yesterday, the Greek parliament pushed through an extensive package of cuts and tax increases -- its most aggressive austerity budget so far -- in order to receive their next bailout payment.