Follow Newser on Twitter   Friend Newser on Facebook
Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

NEWS ABOUT: austerity

Stories 1 - 20 |  Next >>

Switch to grid view »

What Hollande's Victory Means for France

President-elect has a packed first 40 days

(Newser) - Following last night’s victory over Nicolas Sarkozy , Francois Hollande will have to jump right in to his new role—he will be sworn in as France’s president next Tuesday, the BBC notes. What does his election mean?
  • Hollande has vowed to renegotiate the eurozone budget treaty Sarkozy championed
... More »

World Markets Tumble on French-Greek Elections

Investors fear fresh crisis in eurozone

(Newser) - Markets worldwide have been seriously rattled by the rejection of pro-austerity governments by voters in France and Greece . Asian markets plunged, the euro dropped to a 3-month low against the dollar in early trading, and oil slipped to $97 a barrel. European shares also tumbled and yields rose on the... More »

Hollande Wins French Election, Topples Sarkozy

Says Hollande: 'Austerity can no longer be inevitable!'

(AP) - Socialist Francois Hollande defeated conservative incumbent Nicolas Sarkozy today to become France's next president, heralding a change in how Europe tackles its debt crisis and how France flexes its military and diplomatic muscle around the world. Crowds filled the Place de la Bastille, the iconic plaza of the French... More »

'Fairy Tale' of Austerity Is Finally Dead

Paul Krugman: Europe realizing those policies made things worse

(Newser) - Paul Krugman doesn't use the words "I told you so," but he does pronounce the notion that austerity measures would fire up Europe's economy good and dead. European policy-makers had the misguided idea—one embraced by Republicans in the US—that cutting back on spending would... More »

4 Things Obama Must Do to Win

Robert Reich: It's time for a clear economic strategy

(Newser) - President Obama's economic message is that "we're on the right track" and we should give him more time. But if the economy "stalls"—about a 50-50 chance—the message won't hold up, writes Robert Reich in the Guardian . It's time for Obama to... More »

Strike, Protests Paralyze Spain

Millions protest austerity drive, labor laws changes

(Newser) - Spain's leaders insist that the country will not become the next Greece, although yesterday's events certainly looked familiar to residents of Athens. Police clashed with demonstrators who torched trash bins and cars in Barcelona amid a nationwide general strike called by unions in response to labor law changes... More »

Eurozone Economy Shrinks

Nine of 17 member states post a fall

(Newser) - For the first time since 2009, the eurozone economy contracted last quarter. The fourth quarter of 2011 saw the GDP shrink 0.3% compared to the third quarter; the last quarterly contraction occurred during the second quarter of 2009 when the GDP dropped 0.2%. Meanwhile, the GDP grew just... More »

Greece Axing 15K Public Jobs

Country caves to creditors' demands

(Newser) - As politicians in the US debate the merits of smaller government, Greece's creditors are forcing it to shrink its public sector. Greece has agreed to cut 15,000 government jobs by the end of this year, and 150,000—a fifth of the total—by the end of 2015.... More »

Romanian PM, Government Resign

Emil Boc steps down in wake of austerity protests

(AP) - The Romanian prime minister today announced the immediate resignation of himself and his government, saying he wanted to protect the stability of the country. Emil Boc said he was resigning "to ease the social situation"—referring to weeks of protests in Romania over austerity measures that he introduced... More »

Behind Europe's Economic Mess: 'Willful Amnesia'

Austerity measures violate basic economic tenets: Paul Krugman

(Newser) - Europe has been lauded for its commitment to austerity measures as a means of restoring its economies. But a quick look at the state of those economies reaffirms what any economist should already have known, writes Paul Krugman in the New York Times : The effort is backfiring. Krugman explains that... More »

Italy Passes Austerity Measures Amid Strikes

Furious unions protest with transport shutdown

(AP) - The Italian government today easily won a confidence vote on its package of austerity measures in the lower chamber of Parliament as more protest strikes hit the country. Premier Mario Monti had called the vote in the Chamber of Deputies to speed passage of the $39 billion in extra taxes... More »

Dear Financial 'Experts,' Check Out Iceland

It avoided harsh austerity measures and is doing better: Paul Krugman

(Newser) - Markets are thrilled that Europe finally cut a deal, "however vague the details and however inadequate it may prove," writes Paul Krugman in the New York Times . The deal is better than nothing, he writes, but it once again highlights the misguided doctrine he says is doing great... More »

Massive Strike Shuts Greece

An estimated 50K protest in Athens

(Newser) - Workers across Greece walked off the job today for a crippling 48-hour general strike, closing shops, schools, courts, ports, and more. A host of flights were canceled—though mercifully airline workers shortened their strike to just 12 hours—and public transportation was functioning with a reduced staff, according to the... More »

Greece Braces for 'Mother of All Strikes'

Prime minister orders garbage crews back to work

(Newser) - Don’t try to get anything done in Greece tomorrow: A coalition of unions representing roughly half of the country’s 4 million workers has called for a 48-hour general strike starting tomorrow to protest upcoming austerity measures, Reuters reports. One Greek newspaper has dubbed it “the mother of... More »

As Default Looms, Strike Paralyzes Greece

'We've lost everything,' says striker as thousands protest austerity measures

(Newser) - The biggest strike in months has brought Greece to a standstill and tens of thousands of workers are taking to the streets of Athens. The strike, organized by the country's two biggest unions, is in response to the tough austerity measures unveiled earlier this week , reports the Los Angeles ... More »

Greece Passes 2nd Austerity Bill

Final hurdle before receiving bailout funds now cleared

(AP) - Greece has bought itself some time to deal with its crippling debt crisis after lawmakers cleared the final hurdle for crucial bailout funds to be released, which will prevent the country from defaulting next month. The EU and IMF had demanded Parliament pass two bills— an austerity law and a... More »

Greek Strikers Throw Yogurt, Firebombs

As police fire tear gas into crowd to push protesters away from Parliament

(Newser) - A rally of more than 20,000 protesters in Athens' Syntagma Square turned ugly today, as police fired tear gas into the crowd and protesters hurled rocks, firebombs, and even yogurt at them. There was also fighting amongst the crowd, with demonstrators clashing with a group of violent hooded youths,... More »

Lesson From Europe: 'Savage Austerity' Won't Help

Paul Krugman: Portugal, Ireland, UK learned the hard way

(Newser) - Just a few years ago, global leaders knew they had to focus on job creation before they tackled deficits. But that strategy “has been abandoned in the face of phantom risks and delusional hopes,” writes Paul Krugman in the New York Times . Now, it’s all about reducing... More »

Portugal Gov't Verges on Collapse

Country could soon go the way of Greece, Ireland

(Newser) - Today promises to be a tumultuous day in Portugal, with all signs pointing to the resignation of Prime Minister Jose Socrates and the collapse of his minority Socialist administration. The country’s parliament is expected to vote down Socrates’ austerity plan, a move the prime minister contends will force the... More »

Lesson From Wisconsin: Bleed Everyone

We need to agree to 'make everybody hurt': David Brooks

(Newser) - America is engaged in a massive fiscal battle, and nowhere is it more intense than in Wisconsin, where leaders “have done everything possible to maximize conflict,” writes David Brooks of the New York Times . On the one hand, Scott Walker was right: There’s a very good argument... More »

Stories 1 - 20 |  Next >>
NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   BuzzFeed   |   Cracked   |   Timelines   |   Geek Sugar   |   Business Insider   |   HuffPost Entertainment