Europe's austerity bites before Christmas

Holiday cheer turns into crunch for millions across the continent, as politicians battle debt crisis.

    The leaders of France and Germany have released more details of their plan to fix the European debt crisis. They include speeding up plans for a common corporation tax and a tax on financial transactions.

    France's Finance minister says Nicolas Sarkozy and Angela Merkel will not leave this week's EU summit without a powerful deal.

    But while politicians in Europe try to come up with an agreement on the euro, Christmas cheer has turned into Christmas crunch for millions of people across the continent.

    Al Jazeera's Nick Spicer reports from Berlin.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    Lost childhoods: Nigeria's fear of 'witchcraft' ruins young lives

    Lost childhoods: Nigeria's fear of 'witchcraft' ruins young lives

    Many Pentecostal churches in the Niger Delta offer to deliver people from witchcraft and possession - albeit for a fee.

    The priceless racism of the Duke of Edinburgh

    The priceless racism of the Duke of Edinburgh

    Prince Philip has done the world an extraordinary service by exposing the racist hypocrisy of "Western civilisation".

    Why a hipster, vegan, green tech economy is not sustainable

    Why a hipster, vegan, green tech economy is not sustainable

    Improving eco-efficiency within a capitalist growth-oriented system will not save the environment.