The European Union (EU) is an economic and political union of 27 member states that are located primarily in Europe.

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'We Feel Like Crying': Cypriots Lament 'Terrible' Deal

A day after Cyprus struck an 11th hour bailout deal with international creditors, economists warned of the devastating impact it would have on the Cypriot economy as ordinary Cypriots attempted to come to terms with a new reality.

The Captain Phillips Pirates

Banks hit with $2.3bn rate-rigging fine

Some of the world's biggest banks have been hit with a 1.71 billion euros ($2.3 billion) fine for interest rate-rigging by traders, the largest fine ever imposed by the European Commission (EC).

Iran Missile Test

EU Imposes Toughest SanctionsYet Against Iran

Rigorous new sanctions against Iran's banking, shipping and industrial sectors took effect on Saturday, as part of the European Union's effort to force Tehran to scale back its nuclear program.

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