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Federal Budget (U.S.) Austerity

  • BRUSSELS— Hopes for a breakthrough in negotiations for cash-strapped Greece were dashed again and another deadline was set. Greece once again failed to get approval from its European creditors to receive the next batch of bailout loans that it needs to meet a debt repayment hump this summer. Without the loans, Greece faces another brush with bankruptcy.

  • *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.

  • BRUSSELS— Greece is seeking Monday to persuade its creditors in Europe that it has done enough to get another chunk of bailout loans and a firm commitment on alleviating Athens' hefty debt burden. Greek Finance Minister Euclid Tsakalotos is meeting his counterparts from the 19- country eurozone at a meeting in Brussels, where Greece will once again be top of the...

  • ATHENS, Greece— It was supposed to be a time to look forward to. After decades of work, retirement was for many meant to provide a chance to slow down and enjoy life. Greece once had a generous pension system— too generous to be sustainable, especially with an aging population.

  • ATHENS, Greece— Greece's government secured parliamentary approval late Thursday for a new batch of creditor-demanded measures that will impose further income losses on austerity-weary Greeks over the next three years but pave the way for a modest debt relief deal. The vote was a key requirement for Greece's European creditors to release a new bailout...

  • ATHENS, Greece— An anti-austerity rally in Greece's capital turned violent Wednesday as a general strike halted flights, ferries and public transportation, and thousands joined protest marches across the country. A small group of protesters threw gasoline bombs and fired flares at riot police after the marches ended in Athens. Thousands of protesters were...

  • 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...

  • *Argentina economy in recession, fiscal deficit high. BUENOS AIRES, Dec 26- Argentine President Mauricio Macri has asked Finance Minister Alfonso Prat-Gay to step down, cabinet chief Marcos Pena said on Monday, citing disagreements over management style and the structure of the team charged with handling economic policy. Macri has sought to close Argentina's...

  • BUENOS AIRES, Dec 26- Argentine President Mauricio Macri has asked Finance Minister Alfonso Prat-Gay to step down, cabinet chief Marcos Pena said on Monday, citing disagreements over management style and the structure of the team charged with handling economic policy. Macri has sought to close Argentina's gaping fiscal deficit, but the government has...

  • *Riyadh acts to protect poorer citizens, petrochemical sector. RIYADH/ DUBAI, Dec 22- Saudi Arabia said on Thursday it had succeeded in cutting a huge state budget deficit caused by low oil prices and would increase government spending in 2017 to support flagging economic growth. "The public finances haven't improved on this scale since the early 1990 s, following...

  • RIYADH, Dec 22- Saudi Arabia said on Thursday it had successfully cut into its huge state budget deficit this year and will increase government spending in 2017 to boost flagging economic growth. The financial challenges for Saudi Arabia stem largely from the fall in the global price of oil over the past 2-1/ 2 years. Riyadh slashed spending on infrastructure and...

  • DUBAI, Dec 21- Saudi Arabia's state budget for 2017, which is expected to be released on Thursday, will boost spending to support economic growth while raising domestic energy prices to ease the government's subsidy burden, sources told Reuters. The deficit totalled a record 367 billion riyals in 2015, and the original budget for this year projected a 326...

  • BRASILIA, Dec 13- Brazilian senators on Tuesday passed a 20- year public spending ceiling proposed by President Michel Temer to control a ballooning budget deficit, a crucial step in an austerity drive to rescue Brazil's stalled economy. Temer said the move to limit spending by constitutional amendment was unprecedented and will be followed by an equally...

  • BRASILIA, Dec 13- Brazilian senators on Tuesday passed the main text of a 20- year public spending cap proposed by President Michel Temer to control a ballooning budget deficit, a crucial step in his plan to rescue Brazil's stalled economy. Authorities braced for protests outside Brazil's Congress organized by labor unions and left-wing groups opposed to...