Austerity in Europe

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

Balls vows spending cuts to clear deficit

Shadow chancellor toughens Labour stance on borrowing


Chancellor George Osborne ©Charlie Bibby/FT
There is no need for vacuous and irrelevant balanced budget laws
Politicians prefer not to talk about a deficit that remains huge
OECD study offers no one-size-fits-all recommendations

The old order loses its grip in painful times of change

Fall of Espírito Santo may hold promise for more productive areas of economy

Enough is Enough public protest in Guernsey
©Andrew Le Poidevin

Island’s economy shows signs of recovery

Austerity measures have caused tensions but growth is improving

Brussels warns France over budget

France faces becoming first eurozone country to be fined

Merkel ally doubts Hollande’s reforms

Oettinger says French budget does not deliver enough cuts

Unions will fight cuts, says McCluskey

Unite leader warns of ‘backlash’ against austerity

Anger at Ireland’s water charges boils up

After six years of austerity, move to charge consumers directly is last straw

Foreign Office loses direction due to cuts

Some wonder if FCO can regain former lustre as more austerity looms

Britain and the cuts: NI faces harsh reality

Finance minister welcomes agreement on plan to reduce spending

Britain and the cuts: Pain tolerated

Decision not to tighten screws further means tougher measures have been deferred

Britain and the cuts: Spain’s spend rise

Recent economic hardship had little to do with austerity

Britain and the cuts: Irish count cost

Last month’s budget did not raise taxes or slash public spending

Appetite for austerity evaporates

FT Series: Poll shows fewer voters think more hard cuts needed

Britain and the cuts: Councils set aside £2.3bn

Part 2 of FT series finds local authorities building up reserves

Britain and the cuts: Blow for Cameron

Part 1 of an FT series finds government must double annual savings to £48bn

Portugal attacked as bailout reforms flag

‘Troika’ raises concerns about growth outlook

IMF slammed over support for austerity

Watchdog says calls for fiscal tightening in 2010 were premature

N Ireland faces £1bn cuts after budget deal

Stormont agreement ends impasse after pressure from Treasury

Cameron’s deficit claims mauled by IFS

‘No sense’ in which 80% of spending cuts are done, says think-tank

Brussels clears France and Italy’s budgets

Move comes after Paris and Rome agree to additional fiscal tightening