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Federal Budget (U.S.) Austerity

  • LONDON, June 21- Britain's government said it would pay greater heed to public concerns about austerity but stuck with the broad outlines of its plans to reduce the budget deficit as it set out its legislative plans for the next two years on Wednesday. After Prime Minister Theresa May failed to win a majority in an early election on June 8, there had been...

  • LUXEMBOURG— Greece avoided another potential brush with bankruptcy after striking a deal with European creditors to tide it over for the rest of the year and gained assurances that its repayment burden will be eased when it finally can stand on its own after nearly a decade on financial life support. After months of haggling that raised fears of another...

  • Greece's finance minister says financial markets now have "much greater clarity" about the future of Greece's debts, which will help the country regain market access when its current bailout program ends next year. As well as securing 8.5 billion euros in bailout funds, which will help Greece meet a big summer repayment, Tsakalotos won a promise on future...

  • LONDON, June 15- Sterling fell half a percent against a broadly stronger dollar in morning trade in London on Thursday, with weak retail sales numbers and concerns about efforts to form a new minority government driving it back below $1.27. "The overall trend is still not bad, the retail numbers are still holding up, but the likes of the CBI, the BRC are not optimistic,"...

  • LUXEMBOURG— Greece avoided another potential brush with bankruptcy Thursday after striking a deal with European creditors to tide it over for the rest of the year and gained assurances that its repayment burden will be eased when it finally can stand on its own after nearly a decade on financial life support. After months of haggling that raised fears of...

  • ATHENS, Greece— Greece's prime minister renewed an appeal to international lenders Wednesday to reach an agreement on easing the country's debt burden, a day before finance ministers from the euro currency bloc meet to review its bailout program. In an article written for France's Le Monde and Germany's Die Welt newspapers, Alexis Tsipras said dealing with...

  • *France unlikely to meet budget deficit ceiling. *Italy needs tax, judicial reforms. BRUSSELS, May 22- Euro zone countries improved their fiscal stance, a sign of growing financial stability, the EU Commission said on Monday, but it called on France to take new action to comply with EU deficit limits and warned Italy faced "urgent" challenges.

  • LISBON, April 13- The Portuguese government rolled out an ambitious plan on Thursday to eliminate its budget deficit by 2020 after slashing the gap to its lowest level in at. Portugal's total debt is the third highest in the euro zone after Greece and Italy. The minority Socialist government, which came to power in late 2015, has surprised analysts by slashing the...

  • *EU may end excessive deficit action against Lisbon. LISBON, March 31- While the European left is largely struggling where it holds power, Portugal's government alliance stands out as a remarkable exception; it is raising wages and gaining popularity and yet delivering the lowest budget deficit in living memory. The unlikely alliance of centre-left...

  • LISBON, March 24- Portugal slashed its budget deficit last year by more than half to 2.1 percent of gross domestic product, the lowest level since its return to democracy in 1974 and beating the 2.5 percent target agreed with Brussels. Official data showed on Friday the budget gap ended for the first time below the European Union's 3 percent threshold,...

  • LISBON, March 24- Portugal slashed its budget deficit last year by more than half to 2.1 percent of gross domestic product, the lowest level since its return to democracy in 1974 and beating the 2.5 percent target agreed with Brussels. Official data showed on Friday the budget gap ended for the first time below the European Union's 3 percent threshold,...

  • *Prince Mohammed: austerity needed to pay state employees. RIYADH, March 7- Saudi Arabia has promised to launch major development projects towards the end of 2017 to re-energise an economy which has been hit by austerity measures, industry sources told Reuters. While Prince Mohammed has cut a $98 billion state budget deficit and put the kingdom on track towards...

  • In its annual review of Greece's economic policies, the IMF said most of its board directors favor a Greek fiscal surplus target of 1.5 percent of gross domestic product by 2018, while some directors favor the higher 3.5 percent target sought by Greece's European lender group. The rare split among IMF's directors reveals some divisions in their views of...

  • In its annual review of Greece's economic policies, the IMF said most of its board directors favor a Greek fiscal surplus target of 1.5 percent of gross domestic product by 2018, while some directors favor the higher 3.5 percent target sought by Greece's European lender group. The rare split among IMF's directors reveals some divisions in their views of...

  • Greek Prime Minister Alexis Tsipras

    Greece's Parliament has passed a budget of continued austerity as mandated by the country's creditors, but which forecasts robust growth for 2017.

  • UK FinMin should not be reckless: Economist

    British Finance Minister Phillip Hammond should "play it safe and wait for ... the fog to clear" post-Brexit, says Simon Wells, chief UK economist at HSBC.

  • Room for a different type of fiscal police in Greece: Opposition

    Kyriakos Mitsotakis, president of the Greek New Democracy opposition party, says that the current government is "pretending to implement real reforms."

  • Paul Johnson, director of the Institute for Fiscal Studies, discusses the potential for more austerity driven fiscal policy in British politics.

  • Brazil Politics

    Only 54 senators are needed to vote for a formal impeachment of Rousseff, with 49 declaring their willingness to do so, says CSIS' Michael Metera.

  • UK Chancellor of the Exchequer George Osborne speaks at a Conservative Party Conference.

    George Osborne, the U.K.'s austerity chancellor, was replaced in new Prime Minister Theresa May's cabinet reshuffle.