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Posted: 12/28/2012 1:18:33 PM EST
Spain's Prime Minister Mariano Rajoy pauses as he makes a speech at the Moncloa Palace in Madrid, Friday Dec. 28, 2012. In his end of year assessment, Mariano Rajoy said Friday the crisis had been worse than he had anticipated and that the first half of 2013 will be “very hard,” but that the economy should begin to recover in the second semester.Rajoy says the country’s economy will be in recession for some time and faces a tough year ahead as it grapples with a deep financial crisis and 25 percent unemployment. (AP Photo/Paul White)
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Posted: 12/28/2012 1:18:32 PM EST
Spain's Prime Minister Mariano Rajoy makes a speech at the Moncloa Palace in Madrid, Friday Dec. 28, 2012. In his end of year assessment, Mariano Rajoy said Friday the crisis had been worse than he had anticipated and that the first half of 2013 will be “very hard,” but that the economy should begin to recover in the second semester.Rajoy says the country’s economy will be in recession for some time and faces a tough year ahead as it grapples with a deep financial crisis and 25 percent unemployment. (AP Photo/Paul White)
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Posted: 12/28/2012 1:18:30 PM EST
Spain's Prime Minister Mariano Rajoy pauses during a news conference at the Moncloa Palace in Madrid, Friday Dec. 28, 2012. In his end of year assessment, Mariano Rajoy said Friday the crisis had been worse than he had anticipated and that the first half of 2013 will be “very hard,” but that the economy should begin to recover in the second semester. Rajoy says the country’s economy will be in recession for some time and faces a tough year ahead as it grapples with a deep financial crisis and 25 percent unemployment. (AP Photo/Paul White)
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Posted: 12/28/2012 1:18:28 PM EST
Spain's Prime Minister Mariano Rajoy walks away after making a speech at the Moncloa Palace in Madrid, Friday Dec. 28, 2012. In his end of year assessment, Mariano Rajoy said Friday the crisis had been worse than he had anticipated and that the first half of 2013 will be very hard, but that the economy should begin to recover in the second semester. Rajoy says the country's economy will be in recession for some time and faces a tough year ahead as it grapples with a deep financial crisis and 25 percent unemployment. (AP Photo/Paul White)
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Posted: 12/28/2012 10:08:24 AM EST
In this Wednesday, Dec. 19, 2012 photo, a woman walks past a Wells Fargo location in Philadelphia. U.S. banks are closing the year with the strongest profits since 2006 and fewer failures than at any time since the financial crisis struck in 2008. They're helping support an economy slowed by high unemployment, flat pay, sluggish manufacturing and anxious consumers. (AP Photo/Matt Rourke)
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Posted: 12/28/2012 10:08:24 AM EST
This Wednesday, Dec. 19, 2012 photo shows a Citibank in Philadelphia. U.S. banks are closing the year with the strongest profits since 2006 and fewer failures than at any time since the financial crisis struck in 2008. They're helping support an economy slowed by high unemployment, flat pay, sluggish manufacturing and anxious consumers. (AP Photo/Matt Rourke)
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Posted: 12/28/2012 10:08:24 AM EST
In this Wednesday, Dec. 19, 2012 photo, a man walks past a Wells Fargo location in Philadelphia. U.S. banks are closing the year with the strongest profits since 2006 and fewer failures than at any time since the financial crisis struck in 2008. They're helping support an economy slowed by high unemployment, flat pay, sluggish manufacturing and anxious consumers. (AP Photo/Matt Rourke)
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Posted: 12/28/2012 10:08:24 AM EST
In this Wednesday, Dec. 19, 2012 photo, people walk past a Bank of America branch in Philadelphia. U.S. banks are closing the year with the strongest profits since 2006 and fewer failures than at any time since the financial crisis struck in 2008. They're helping support an economy slowed by high unemployment, flat pay, sluggish manufacturing and anxious consumers. (AP Photo/Matt Rourke)
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Posted: 12/21/2012 12:23:44 PM EST
FILE - In this Tuesday, Sept. 25, 2012 file photo, a protester wears glasses with the euro and dollar symbols painted on the lenses before protesting the conservative government's handling of the economic crisis and to demand fresh elections, in Madrid. Many had hoped that 2012 would be the year when the global economy finally regained its vigor, but the three largest economies: The United States, China and Japan struggled, while the 17 countries that use euro endured a third painful year in their financial crisis and slid into recession, and emerging economies slowed. (AP Photo/Paul White, File)
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Posted: 12/12/2012 4:58:35 AM EST
FILE - In this Thursday, Feb. 26, 2009 file photo the logo for the Royal Bank of Scotland is seen as people enter their headquarters in London. The value of global mergers and acquisitions deals in 2012 was nearly half the amount made five years ago, when the global financial crisis was first baring its teeth, a leading accounting and consulting firm said Wednesday, Dec. 12, 2012. There were a little under 37,000 deals worldwide, around 9,000 less than in 2007, when many companies indulged in a feverish bout of deal-making, many of which led to their financial ruin. Much of the blame for Royal Bank of Scotland PLC’s near-collapse in 2008, which eventually required a government bailout, was due to its over-priced purchase of a large chunk of Dutch bank ABN Amro the year before. (AP Photo/Alastair Grant, File)
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Posted: 12/12/2012 4:58:35 AM EST
In this Friday, Jan. 27, 2012 photo, a sign of RBS, Royal Bank of Scotland, is seen at its office in the City of London. The value of global mergers and acquisitions deals in 2012 was nearly half the amount made five years ago, when the global financial crisis was first baring its teeth, a leading accounting and consulting firm said Wednesday, Dec. 12, 2012. There were a little under 37,000 deals worldwide, around 9,000 less than in 2007, when many companies indulged in a feverish bout of deal-making, many of which led to their financial ruin. Much of the blame for Royal Bank of Scotland PLC’s near-collapse in 2008, which eventually required a government bailout, was due to its over-priced purchase of a large chunk of Dutch bank ABN Amro the year before. (AP Photo/Sang Tan)
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Posted: 11/27/2012 6:38:38 AM EST
An investor walks in front of the stock price monitor at a private securities company Tuesday, Nov. 27, 2012 in Shanghai, China. Asian stock markets rose Tuesday after talks over Greece's financial crisis ended with an agreement on how to reduce its debt load, paving the way for the cash-strapped country to receive the next installment of a bailout loan. (AP Photo)
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Posted: 11/27/2012 4:23:20 AM EST
An investor smiles in front of the stock price monitor at a private securities company Tuesday, Nov. 27, 2012 in Shanghai, China. Asian stock markets rose Tuesday after talks over Greece's financial crisis ended with an agreement on how to reduce its debt load, paving the way for the cash-strapped country to receive the next installment of a bailout loan. (AP Photo)
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Posted: 11/26/2012 2:59:52 PM EST
A logo of HP is seen outside Hewlett-Packard Belgian headquarters in Diegem, near Brussels, January 12, 2010. The management of HP announced 324 jobs cut at its Belgian office because of poor sales resulting from the global financial crisis according to local media. REUTERS/Thierry Roge
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Posted: 11/26/2012 2:59:52 PM EST
A logo of HP is seen outside Hewlett-Packard Belgian headquarters in Diegem, near Brussels, January 12, 2010. The management of HP announced 324 jobs cut at its Belgian office because of poor sales resulting from the global financial crisis according to local media. REUTERS/Thierry Roge
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Posted: 11/26/2012 2:59:52 PM EST
A logo of HP is seen outside Hewlett-Packard Belgian headquarters in Diegem, near Brussels, January 12, 2010. The management of HP announced 324 jobs cut at its Belgian office because of poor sales resulting from the global financial crisis according to local media. REUTERS/Thierry Roge
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Posted: 11/15/2012 10:48:27 AM EST
Italian Prime minister Mario Monti, left, and European Central bank President Mario Draghi meet as they attend the opening ceremony of the academic year of the Bocconi University in Milan, Italy, Thursday, Nov. 15, 2012. The 17-country eurozone has fallen back into recession for the first time in three years as the fallout from the region’s financial crisis was felt from Amsterdam to Athens. And with surveys pointing to increasingly depressed conditions across the eurozone at a time of high unemployment in many countries, there are fears that the recession will deepen, and make the debt crisis _ calmer of late _ even more difficult to handle.(AP Photo/Antonio Calanni)
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Posted: 11/15/2012 10:48:27 AM EST
European Central bank President Mario Draghi delivers his speech during the opening ceremony of the academic year of the Bocconi University in Milan, Italy, Thursday, Nov. 15, 2012. The 17-country eurozone has fallen back into recession for the first time in three years as the fallout from the region’s financial crisis was felt from Amsterdam to Athens. And with surveys pointing to increasingly depressed conditions across the eurozone at a time of high unemployment in many countries, there are fears that the recession will deepen, and make the debt crisis _ calmer of late _ even more difficult to handle. (AP Photo/Antonio Calanni)
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Posted: 11/14/2012 9:18:28 AM EST
FILE - This May 11, 2012 file photo shows Riccardo Muti, conducts his orchestra during a concert to celebrate Pope Benedict XVI's Pontificate at the Vatican. Muti, the master conductor, is sounding an ominous note, and it is not rising from the orchestra pit. Maestro Muti is worried that the stubborn financial crisis in much of the world risks impoverishing not just public coffers but also the arts, whose budgets, often lean in good economic times, are among the biggest casualties in many countries. (AP Photo/Gregorio Borgia, files)
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Posted: 11/9/2012 11:28:22 AM EST
FILE - In this June 16, 2011 file photo, Germany's Chancellor Angela Merkel, right, welcomes the governor of the Banca d'Italia and candidate for the European Central Bank presidency Mario Draghi at the chancellery in Berlin. The worst of Europe’s financial crisis appears to be over. European leaders have taken steps to ease the panic that has plagued the region for three turbulent years. Much of the credit for easing Europe’s financial crisis goes to the European Central Bank, which has become more aggressive over the past year under the leadership of Mario Draghi. Merkel has also helped ease financial tensions across the region by speaking more forcefully about the need to hold the euro together. (AP Photo/Markus Schreiber, File)
