Europe debt crisis

For many Europeans, the effects of the debt crisis are felt very close to home — with unemployment soaring and manufacturing suffering.

European finance ministers are meeting today about how much money banks should have around in case of emergency. Banks argue the more that's set aside the less they have to lend and invest.

Spain has officially slipped back into recession and to make matters worse, Standard & Poor’s has downgraded the credit rating on 11 Spanish banks. That makes it harder for those banks to borrow money.

Economist Edward Hugh discusses how Spain's economic woes compare to Greece and whether the country is "bailout-able."

Academics find a useful way of describing what kind of crisis the eurozone is facing.

In a matter of days, two countries at the center of the European debt crisis will hold elections: France is on the verge of electing a socialist as president and Greece may also shake up its leadership. But it's Spain that's causing some heartburn today.

Incumbent Nicolas Sarkozy came in second yesterday to Socialist Francois Hollande in the first round of voting. The two candidates will face a run-off on May 6th, and the ultimate outcome could have big consequences for Europe's debt crisis.

European markets are down significantly, and that's being blamed on elections over the weekend in France that increase the likelihood that Conservative President Nicholas Sarkozy will lose his job.

U.S. stocks had their worst day of the year yesterday, in part because analysts say the European debt crisis is back after months of relative calm.

Coming off Tuesday's worst showing for stocks this year — both in the U.S. and Europe — there is a new dawn today. Market players are showing a renewed appetite for risk, including stocks, at least so far on this Wednesday.