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Austerity Measures

The Takeaway

Berlusconi Seeks a Return to Power

Monday, December 10, 2012

Just last year, Silvio Berlusconi officially submitted his resignation as Italy's prime minister, but Berlusconi has announced that he'll be seeking a return to power. Rachel Donadio, Rome bureau chief for our partner The New York Times, discusses Italy's newest challenges and Berlusconi's continued influence

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It's A Free Blog

Opinion: Austerity Is Bad Policy and Bad Politics

Tuesday, May 08, 2012

It's a political minefield in certain parts of our country to cite Europe as a positive example of anything. Fortunately, now is a moment when Europe is a useful counter-example in a conversation that aligns good politics and good policy.

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WNYC News

NY Greeks Try to Provide Some Relief to Homeland

Sunday, April 08, 2012

The economic crisis in Greece has shrunk the country’s economy, cost tens of thousands of jobs and led the government to impose severe austerity measures. Now, a group of Greek New Yorkers is mobilizing to help Greece's most vulnerable survive the harsh economic times

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The Takeaway

Understanding Austerity

Friday, March 30, 2012

Many governments spend more money then they take in. This is known as deficit spending. This is not necessarily a bad thing, but it is possible for their debt to get so large that they will no longer be able to operate. At least, the cost of borrowing money will be so greatly increased, that it becomes an obstacle. When this happens, countries must take action to get their balance sheets in order.

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The Takeaway

New Austerity Measures Spark Protests in Greece

Thursday, October 20, 2011

Massive labor strikes have turned violent in Greece as thousands of protesters have clashed with police in the streets of Athens. The demonstrators are protesting against proposed austerity measures that would lay off more than 30,000 public sector workers while cutting pensions and salaries for those left with jobs. The Greek Parliament will vote on the final austerity package today.

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The Takeaway

Defaulting May Not Be A Greek Tragedy

Wednesday, June 29, 2011

Demonstrators continue to protest in the streets of Athens today, amid violence and tear gas. Many Greeks are not happy with their government's upcoming vote on austerity measures, which would mean higher taxes and many spending cuts. If Greece's government does not pass the austerity measures, though, they would be at risk of not receiving a €12 billion bail-out, and becoming the first eurozone country to default.

 

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The Takeaway

Greeks Stage Two-Day Strike Against Austerity Package

Tuesday, June 28, 2011

Tens of thousands of Greeks are gathering in the streets of Athens today, as part of a 48-hour strike to protest an austerity package that includes deep spending cuts and higher taxes, and would need to pass in order for Greece to obtain a bail-out from the European Union. Parliament will vote on the austerity package tomorrow. Polls show eighty percent of Greeks are apposed to the package. 

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