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Austerity

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  • BRASILIA, July 21- Brazil may cut spending further to strengthen its finances following a sharp drop in tax revenues, Finance Minister Joaquim Levy said on Tuesday, without ruling out the possibility of lowering the government's key budget surplus target. With markets leery of the government adjusting its closely watched primary budget surplus goal of 1.1...

  • LONDON, July 21- Britain's finance minister George Osborne launched a new front in his austerity push on Tuesday as he challenged some government departments to find spending cuts of up to 40 percent by the end of the decade. "This spending review is the next step in our plan to eliminate the deficit, run a surplus and ensure Britain lives within its means," Osborne...

  • Greece: Not so happy Monday! Monday, 20 Jul 2015 | 9:08 AM ET

    Monday should have been a good day for Greece with banks re-opening and receiving over 7 billion euros in financing. But turns out, they don't have much to celebrate.

  • ATHENS, Greece— Greece set a series of landmarks Monday it hopes will shore up its battered economy following months of crisis that threatened its place in the euro. Banks reopened after more than three weeks, and the cash-strapped country got enough money from European creditors to pay around 2 billion euros it owed to the International Monetary Fund.

  • UPDATE 1-Italy PM says will abolish home tax from 2016 Saturday, 18 Jul 2015 | 9:19 AM ET

    ROME, July 18- Italian Prime Minister Matteo Renzi on Saturday pledged to abolish a much-hated property levy next year and make further tax cuts in the future, and said his plan to bolster growth would not upset public finances. Speaking at a party assembly outside Milan, Renzi said he would eliminate a tax on primary residences from 2016. Renzi did not say how much...

  • ATHENS, Greece— Greece's proposed bailout cleared further key hurdles Friday after German lawmakers overwhelmingly gave their backing to another financial rescue and the European Union said it would release a short-term loan to ensure Athens avoids a debt default. In a statement, the European Stability Mechanism said it approved a "decision to grant, in...

  • European Central Bank chief Draghi faces Greece questions Thursday, 16 Jul 2015 | 12:04 AM ET

    FRANKFURT, Germany— European Central Bank head Mario Draghi faces a blizzard of questions about Greece at his news conference Thursday. Greece desperately needs the ECB to start letting Greek banks tap emergency central bank credit. Greece and other eurozone countries have agreed to hold talks on what would be a bailout worth 82 billion- 86 billion euros.

  • Tsipras in trouble within Syrzia: Control Risks Wednesday, 15 Jul 2015 | 9:20 PM ET
    Tsipras in trouble within Syrzia: Control Risks

    Michael Moran, Managing Director for Global Risk at Control Risks, describes the political trouble the Greek PM is currently in.

  • Greek bailout: What happens now? Tuesday, 14 Jul 2015 | 12:58 PM ET
    Alexis Tsipras, Greece's prime minister, center, reacts as he leaves following all-night bailout talks in Brussels, July 13, 2015.

    Expect serious political fallout following the third Greek bailout, says Warwick professor Haridimos Tsoukas.

  • Despite 'agreekment,' Athens is still in trouble Monday, 13 Jul 2015 | 10:31 PM ET
    Despite 'agreekment,' Athens is still in trouble

    John Calverley, Head, Global Thematic Research at Standard Chartered, warns of looming trouble in Greek politics.

  • Can Tsipras sell bailout deal to Greek people? Monday, 13 Jul 2015 | 8:40 PM ET
    Can Tsipras sell bailout deal to Greek people?

    Lindsey Piegza, Chief Economist at Stifel Fixed Income, says getting the Greek population on board with Monday's bailout plan will require "extreme political maneuvering."

  • New Greek deal is worse than last: JP Morgan Monday, 13 Jul 2015 | 8:15 PM ET
    New Greek deal is worse than last: JP Morgan

    Guillaume Chatain, Executive Director and Head of Equity Solutions at JP Morgan Private Bank, expects Athens to seek changes to Monday's bailout deal over the next couple of months.

  • This isn't the end of Greek drama: Expert Monday, 13 Jul 2015 | 7:32 PM ET
    This isn't the end of Greek drama: Expert

    Jason Brady, Head of Fixed Income & Managing Director at Thornburg Investment Management, doesn't expect the Greek citizens to willingly accept the new harsh measures outlined in the bailout deal.

  • Greek crisis: 'Agreekement' confirmed Monday, 13 Jul 2015 | 5:13 AM ET
    Greek Prime Minister Alexis Tsipras speaks with German Chancellor Angela Merkel (L) and French President Francois Hollande at a euro zone leaders summit in Brussels, Belgium, July 12, 2015.

    Twitter broke the news. After a record 17 hour-long emergency euro summit, a deal between Greece and the Eurogroup has been struck.

  • Why Germany's time-out idea is 'half-baked' Sunday, 12 Jul 2015 | 7:43 PM ET
    Why Germany's time-out idea is 'half-baked'

    Mark Melatos, Senior Lecturer at the University of Sydney's School of Economics, explains why a 5-year exit from the common currency isn't likely for Greece.

  • Does 'no' mean 'no' in Greece? Sunday, 12 Jul 2015 | 5:47 PM ET
    Does 'no' mean 'no' in Greece?

    CNBC's Michelle Caruso-Cabrera and Stathis Kalyvas, Yale professor, discuss whether Alexis Tsipras' new plan has a chance of passing in the Greek parliament.

  • Greek story plays out in Asia markets Sunday, 12 Jul 2015 | 5:25 PM ET
    Greek story plays out in Asia markets

    CNBC's Adam Bakhtiar provides an update on early trading in Asia.

  • Greece needs 'attitude change': Pro Sunday, 12 Jul 2015 | 5:17 PM ET
    Greece needs 'attitude change': Pro

    Erik Nielsen, UniCredit global chief economist, says it could take ten years for Greece to get its economic house in order. CNBC's Michelle Caruso-Cabrera and Steve Liesman add perspective.

  • It's not about Greece anymore: Economist Sunday, 12 Jul 2015 | 5:07 PM ET
    It's not about Greece anymore: Economist

    Erik Nielsen, UniCredit global chief economist, weighs in on the bigger economic implications of Greece's debt crisis for Europe.

  • Greece's plan 'cannot fly': Haris Theoharis Sunday, 12 Jul 2015 | 4:51 PM ET
    Greece's plan 'cannot fly': Haris Theoharis

    CNBC's Michelle Caruso-Cabrera, and Haris Theoharis, MP to Potami, discuss the legislative process of getting the Greek debt proposal passed in parliament and it's likely outcome. This is plan B, and not meant to be executed, says Theoharis.