Austerity
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NEW YORK, May 16- U.S. companies are hiring more workers and home prices, stock markets and energy production are climbing. The Congressional Budget Office on Tuesday slashed its budget deficit forecast for the current fiscal year ending Sept. 30 to $642 billion, a massive $203 billion cut from its estimate in February.
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NEW YORK, May 16- U.S. companies are hiring more workers and home prices, stock markets and energy production are climbing. The Congressional Budget Office on Tuesday slashed its budget deficit forecast for the current fiscal year ending Sept. 30 to $642 billion, a massive $203 billion cut from its estimate in February.
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*Sees lower deficits and moderate growth next two years. WELLINGTON, May 16- New Zealand's government charted a more optimistic economic outlook on Thursday as it raised its forecast for budget surpluses on the back of moderate growth, and said it would start spending more on new policies.
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PARIS, May 15- European Commission President Jose Manuel Barroso said on Wednesday France needed to present a credible programme of structural economic reforms if the EU is to grant it two more years to bring its budget deficit down as promised.
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Peter Bofinger, economist from the German Council of Economic Experts, tells CNBC that he is concerned that the worst of the euro zone crisis is not over and it is spreading to the core.
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*CBO estimates could sap Congress' urgency for fiscal deal. WASHINGTON, May 14- The U.S. deficit is shrinking considerably more quickly than previously thought, the Congressional Budget Office said on Tuesday in a report that could sap Congress' sense of urgency to find further budget savings.
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*New CBO estimates could sap Congress' urgency for fiscal deal. WASHINGTON, May 14- The U.S. deficit is shrinking considerably more quickly than previously thought, the Congressional Budget Office said on Tuesday in a report that could sap Congress' sense of urgency in finding further budget savings.
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ATHENS, May 14- Ratings agency Fitch upgraded its sovereign credit rating for Greece by one notch on Tuesday, citing progress in cutting its budget deficit and the risk of a euro zone exit receding.
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CANBERRA, May 14- Australia's struggling Labor government on Tuesday used the last budget before national elections to delay a long-promised return to surplus, blaming a stubbornly high Australian dollar and lower commodity prices for a dramatic fall in revenues.
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Sharan Burrow, general secretary of the International Trade Union, tells CNBC that five years in to the economic crisis, austerity has failed, international institutions have failed and there's a humanitarian crisis.
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Pierre Moscovici, France finance minister, says that he is serious about France's economy but that he and the French people "refuse" austerity.
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In an exclusive interview, CNBC's Steve Liesman talks with Treasury Secretary Jack Lew about achieving a balance between austerity and growth in Europe, and concerns over Japan's monetary policy.
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CNBC's Steve Liesman shares highlights of his interview with Treasury Secretary Jack Lew, about Europe's economic problems and getting Congress and the White House to strike a deal on the budget.
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Roger Altman, Evercore Partners chairman & founder, discusses the impact of free markets on Europe's austerity plan.
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Jack Lew, U.S. Treasury secretary, discusses the global economy on the sidelines of the G7 meeting.
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Jack Lew, U.S. Treasury secretary, says Europe needs to find the right balance between austerity and growth and fix its credit market issues to boost its economy.
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Bruno Jeanbart, director political studies and opinion polls at Opinionway, explains why Francois Hollande has suffered such in steep fall in popularity during his first year in office.
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Steen Jakobsen, chief economist at Saxo Bank, comments on euro zone data and explains why the discussion over ending austerity only makes business people confused.
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Klaus Baader, Chief Economist, Asia Pacific at Société Générale, says given the European growth picture, cyclical deterioration of the labor market will continue.
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*Savings worth 4.8 billion euros by 2015. By Andrei Khalip and Daniel Alvarenga. LISBON, May 3- Portugal plans to raise the retirement age by one year to 66 and make public sector employees work an extra hour per day as part of an array of new spending cuts needed to slash the budget deficit and meet its bailout targets.
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*Spain, Netherlands, France seen in recession in 2013. BRUSSELS, May 3- France will get two more years to meet its budget deficit target because of the country's poor economic outlook within a recession-hit euro zone, the European Commission said on Friday.