Philip Reeves

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It's ALL THINGS CONSIDERED from NPR News. I'm Audie Cornish.

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And I'm Melissa Block.

Europe's debt crisis has caused havoc, toppling governments, breaking banks, leaving a multitude of young people without jobs. Now there's a glimmer of hope.

As NPR's Philip Reeves reports, today, Germany's highest court cleared the way for the next big step in the eurozone's grand plan to save itself.

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The bailout of AIG four years ago, was a defining moment in the U.S. economic crisis. Tomorrow brings a defining moment for Europe as it grapples with its own financial crisis. As NPR's Philip Reeves reports, a court in Germany will deliver a verdict in a case that goes to the very heart of Europe's strategy to save the eurozone.

The London 2012 Olympics were billed as the Social Games, with Twitter, Facebook and other services making it an immersive experience. But it might be remembered as "The Crying Games," for the swelling of emotions many Britons experienced. We run down some of the Olympics' winners and losers:

The Losers

The Stiff Upper Lip

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You find out so much about a country, you know, when it's hosting the Olympics. It's almost as if the games lay bare a nation's soul. NPR's Philip Reeves says that is what's happening in Britain. He's finding the experience unnerving, as he explains, in this letter from the Olympics.

Any claim the British have to their fabled "stiff upper lip" is being destroyed by these Olympic Games. The Brits' lips are wobbling like jellies; their tears are flowing faster than the summer rain; their crowds are cheering themselves hoarse.

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We've been following some big developments today in the News of the World phone-hacking scandal in Britain. Prosecutors are charging eight people - including a former top aide to Prime Minister David Cameron - and a woman who was Rupert Murdoch's top lieutenant. NPR's Philip Reeves reports.

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In Britain today, parliament continues its hearing on the interest rate scandal at Barclays Bank. This week, several of the bank's top executives resigned, including the chief executive, Bob Diamond. Yesterday, parliamentarians quizzed Diamond for three hours.

NPR's Philip Reeves is in London, where he says outrage is growing.

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The Olympic Games are now just over three weeks away. NPR's Philip Reeves is tracking preparations. He brings us his latest letter from London.

PHILIP REEVES, BYLINE: So it's true then. Surface-to-air missiles really will be stationed on London's rooftops during the Olympic Games.

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And European leaders worked through the night last night, at a summit in Brussels aimed at tackling the eurozone's worsening debt crisis.

PHILIP REEVES, BYLINE: NPR's Philip Reeves is there and says they've reached an agreement on at least some issues.

Spain and Italy are among the largest economies in Europe. Their borrowing costs have been spiraling towards unsustainable levels. Spain has warned that it can't afford to pay them for much longer.

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The soccer game - they call it football - between Greece in Germany in Poland yesterday was always about more than just sport. Of course, there's friction between these two countries because of that eurozone crisis and both sides said they'd try to set aside politics for the day just to enjoy the entertainment. Now, of course, as has been widely reported, Germany won the game. They head to the semi-finals of the European championship. NPR's Philip Reeves was there and he sends us this account of an unusual day.

The queen of England this year marks 60 years on the throne, and Buckingham Palace is coordinating a week of events, including a concert at the palace and a 1,000-boat flotilla along the River Thames. NPR's Philip Reeves reports.

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The financial woes of Greece and other countries of the eurozone have meant painful austerity measures in exchange for financial bailouts. Now Irish voters have approved a European Union treaty to battle the debt crisis. It's an effort to enforce strict budget cuts or face financial penalties.

The people of Ireland vote Thursday on a European treaty that imposes strict budgetary rules on eurozone nations. It's triggered a heated debate in Ireland about whether austerity measures are working. The Irish government says rejecting the treaty would cut Ireland off from future EU bailout funds, and isolate the nation.

A mass tax revolt is under way in Ireland, and hundreds of thousands of people have resolved to break the law and refuse to pay a newly-introduced levy on households. The tax is $125 a year, but protesters say it could lead to larger property taxes in the future.

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The British have been holding a public inquiry into press ethics for the last few months. The government is responding to the outcry over the phone-hacking scandal at Rupert Murdoch's News of the World. The inquiry's investing the way newspapers, the police and politicians may feed off each other and that means shining a light into the secluded world, in particular, of the prime minister's social set. NPR's Philip Reeves has been watching the questioning.

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