- One of Britain’s largest food charities says that more than 900,000 people visited its food banks last year. The Wednesday report comes as 600 religious leaders urge the government to take action against the country's growing hunger problem.
- Huge debt and unemployment in Greece are the result of the extreme neo-liberal policies pursued by the Troika that are just aimed at saving the banks but not the people, Kostas Isyhos, a member of the political secretariat of Syriza party, told RT.
- Europe’s poor and children are bearing the brunt of harsh austerity measures as the eurozone crisis continues to deepen, a report compiled by the Catholic charity Caritas warns.
- The West has not yet reached a stage where it will be ready to impose economic sanctions on Russia, German Chancellor Angela Merkel said, stressing that she hopes for a political solution to the stalemate over Ukraine crisis.
- Most of the protesters in Spain are peaceful, but there is an increase in radicalization, especially among young people, which is understandable due to the high level of youth unemployment, trader and portfolio manager Felix Moreno told RT.
- Sanctions against Russia won’t have a great impact, as the countries can’t implement sanctions against each other without costs for themselves, Alexander Shokhin, President of the Russian Union of Industrialists and Entrepreneurs, told RT.
- The government of China plans to spend more than $162 billion in 2014 on redeveloping over 4.75m households in shantytowns thus boosting urbanization. The move is aimed at promoting economic growth.
- UK “bad bankers” may be forced to return the last 6 years of bonuses, as the Bank of England is seeking to make top management more responsible for the lenders’ performance and avoid a repetition of the mis-selling and rate manipulation scandals.
- Italy's UniCredit bank reported a record loss of $20.8 billion in fourth quarter 2013, after the country'sbiggest lender increased its reserves to cover bad loans and spent heavily on acquisitions. The bank is restructuring and cutting 8,500 jobs.
- European Central Bank (ECB) head Mario Draghi said the euro currency is “an island of stability” even though growth in the eurozone is slow and unemployment is still rampant.
- The EU’s inability to deliver repeated promises of prosperity continue to ring hollow. After five bitter years of recession, now the bloc can barely register anemic growth.
- Two full months have passed since almost 1.3 million long-term unemployed Americans lost their extended government benefits, a number that has since jumped by 576,000.