LONDON, Dec 5- British finance minister George Osborne celebrated a sharp turnaround in the economy as vindication of his push to fix a gaping budget deficit on Thursday but he said he would not relax his austerity grip in the years ahead.» Read More
"A player on a sports team might prefer a particular strategy, but it's the coach's opinion that matters the most," said DRW Holdings market strategist Lou Brien, in a research note.
Austerity is - to put it bluntly - not going very well for a number of euro zone countries forced to impose measures on their economies and voters.
David Cameron is to write to European Union leaders urging them to adopt a British plan for growth, at a time when some officials fear he is in danger of being sidelined in a two-speed Europe, the Financial Times reports.
The aircraft carrier H.M.S. Ark Royal, taken out of service this year as part of government budget cuts, is being put up for sale online by the Ministry of Defense.
Austerity and political longevity are clearly not correlated, following the fall of another euro-zone government.
German Chancellor Angela Merkel has deeply strained relations with allies in the European Union and the NATO alliance, raising new questions about Germany’s ability to play a global role in foreign policy, the New York Times reports.
Portugal is at a crossroads that will determine whether it needs to go cap in hand to the European Union's rescue fund for support, according to Barclays Capital.
George Osborne will this week offer Budget sweeteners to low earners, motorists and holidaymakers but has made plain there is no scope for giveaways or slackening the pace of cuts, the Financial Times reports.
Liverpool residents have voiced their anger at cuts by the government, which will leave them without many public services they relied on. The Financial Times reports.
Union leaders urged Wisconsin teachers to return to work at schools that are open on Monday, but large protests were expected to continue at the Capitol against a plan to cut collective bargaining rights and benefits to state workers. The New York Times reports.
The companion piece to my earlier Case for Austerity— in light of today's dismal economic data from the UK.
The dismal economic data from the UK today prompted me to discuss the 'austerity debate' in my last post.
The question of 'austerity' represents a fundamental schism in worldview among economists.
The economic numbers out of London this morning are dismal.
The euro zone's strategy of slashing spending to reduce debt in the wake of the credit crisis is "clearly wrong" and is likely to be counterproductive for the region’s economic growth, Nobel prize-winning economist Joseph Stiglitz, told CNBC Thursday.
Britain’s deficit-reduction program will remain on track this year because tax rises and spending cuts will not stunt growth enough to cause a double-dip recession, according to a large majority of economists polled by the Financial Times.
Austerity measures have been a major point of tension between European governments and their population, often resulting in violent clashes.
Any country that has spare cash to throw at buying millions of pumpkins that will never get eaten and hundreds of millions on tickets for a group more middle of the road than cats-eyes, clearly has more money than sense.
In France, the response to the government’s plan to raise the retirement age from 60 to 62 has sparked nearly a week of national strikes and protests. Click for photos.
Letting the Bush tax cuts expire for wealthy American hurts, not helps, them, because it keeps the US from having a vigorous economy, billionaire financier George Soros, head of Soros Fund Management, told CNBC Monday.