Austerity in Europe

Europeans are braced for a new age of austerity as governments across the region take action to eliminate unsustainable budget deficits

France warns on budget deficit target

Finance minister slashes growth forecast to 0.5%


OECD study offers no one-size-fits-all recommendations
Tory and Liberal Democrat visions of austerity to come
Managing the UK’s recovery will prove just as important

Kenny puts focus on escape from austerity

Ireland’s prime minister reshuffles five portfolios

Draghi coaxes politicians to lead reforms

ECB president reportedly trying to ‘start a conversation’

Greek debt sale raises less than expected

Portugal bank turmoil dampens demand for Athens’s three-year bond

PM faces hard choices over reshuffle

Cameron also has to select new EU commissioner

Irish employers call for end to austerity

Ibec argues only €200m cuts needed in next budget, not €2bn

Philanthropic donors step in to assist the victims of austerity

In spite of some help, NGOs are reporting worsening poverty and a funds drought

Italian prime minister Matteo Renzi

Business warns over Italy’s weak growth

Concern mounts on urgency of Renzi’s economic reforms

Renzi leads push for less austerity

Merkel rebukes call to loosen tough budget rules in bloc

Irish watchdog says further cuts needed

Fiscal Advisory Council says Dublin needs extra €2bn in savings

IMF endorses UK deficit reduction plan

Fund drops previous calls for lower spending cuts

Brussels questions French budget

Review finds ‘insufficient’ detail in Hollande reforms

Tyrie attacks IMF over austerity advice

Head of UK Treasury committee says fund should have stayed silent

Spain’s voters unconvinced by upturn

Macroeconomic improvements have yet to feed through

Italy criticises EU over jobs and growth

Pier Carlo Padoan says Rome will comply with its deficit target

Portugal opts for clean bailout exit

Credit line seen as unnecessary after cash raised on markets

Greece to spend surplus on handouts

Million families set to benefit from ‘social dividend’

France vows resolve over budget deficit

Finance minister says Paris will honour European rules reduction

France to slow deficit reduction plan

Softer target of 3% of GDP is in line with EU’s upper limit

Cuts put Portugal welfare system on rack

More than 10,000 waiting for places in old people’s homes