Recent actions by European leaders to mend Europe's financial crisis have failed to turn things around.
Economists say the financial crisis in the eurozone continues to get worse.
Spain may need an expensive international bailout. Meanwhile, bond prices have been falling in Spain and Italy.
The London Telegraph also reported that British Prime Minister David Cameron was recently warned that Greece might go bankrupt.
That country could run out of money as soon as Aug. 20.
The European debt crisis is also affecting international profits.
Ford Motor Co. said Wednesday that it lost $404 million in Europe last quarter and is projecting more losses.