At first, debt just exists on paper. Anyone taking out a bank loan signs a contract promising to return a borrowed sum, plus interest. But if you default on your mortgage, for instance, the bank will repossess your home.
The European Commission is suing eastern member states for failing to fulfill their legal obligations in accepting a share of asylum seekers. The defendants claim that the EU is interfering with their sovereignty.
A recovery in the labor market has reduced poverty and improved social justice across the EU, according to the Bertelsmann Foundation. But the gap between northern and southern countries remains wide.
European leaders have expressed concern that Donald Trump's "America First" agenda undermines transatlantic relations. But the US' top diplomat assured his EU and NATO counterparts of Washington's unwavering commitment.
German Finance Minister Wolfgang Schäuble, a seasoned stickler, is bidding farewell after eight years. Though anyone in the EU looking forward to a future of more debt may be cheering too soon, writes Bernd Riegert.
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