Greece in tough climbdown on radical debt promises

Greece`s radical left government was at pains Saturday to put a positive face on an EU compromise deal that is sharply at odds with its anti-austerity ambitions.

Global stocks slip as anti-austerity party wins Greek election
Global stocks slip as anti-austerity party wins Greek election

Both US stock futures and Japan's Nikkei fell 0.6 percent on heightened concerns the Greek election results could lead to renewed instability in Europe.

Modi govt launches austerity measures; bars 5-star hotel meetings, first class travel

The government on Thursday announced several austerity measures which ban ministers from holding meetings in five-star hotels and traveling in first class of airlines.

Portugal PM says austerity rejection a `huge frustration`

Portugal`s prime minister on Saturday vowed to overcome the "huge frustration" posed by the constitutional court`s rejection of austerity measures in Lisbon`s 2014 budget.

Kerala govt initiates austerity measures

With state`s financial situation coming under strain, Kerala Cabinet on Thursday decided to initiate certain austerity measures.

Govt to stick with austerity despite looming election: Chidambaram

The govt will have to rein in spending and cut subsidies to meet its fiscal deficit target, the finance minister said, underlining that an austerity drive will not be blown off course by an election due next year.

Govt launches austerity measures; no new jobs for a year

Aiming to restrict the fiscal deficit to 4.8 percent of GDP in 2013-14, the Finance Ministry has ordered all ministries and departments not to buy new vehicles, create new jobs or fill posts lying vacant for over one year.

Govt announces austerity measures; to cut non-plan expenditure by 10%: FinMin

The Finance Ministry on Wednesday announced a small-bore austerity measures to boost the economy without hampering the operational efficiency of the government which included a cut in non-plan expenditure by 10 percent.

Greek schools in danger of closure for lack of heating

Schools in northern Greece run the risk of being closed in the coming days because they haven`t enough money to pay for heating.

Protests over austerity measures in Italy

Some 150,000 people have converged here from across Italy to protest against the government`s tax hikes and welfare cuts.

U’khand Governor orders austerity measures

Five days after taking oath, Uttarakhand Governor Aziz Qureshi on Sunday ordered several austerity measures aimed at curtailing expenditure at the Raj Bhavan.

Austerity measures on the anvil

A cut in spending on foreign travel by ministers and officials, a bar on holding meetings in five-star hotels and a 10 percent slash in budget for workshops and seminars are among the austerity measures government is planning prune expenditure in the wake of a tight economic situation.

Unpopular austerity measures on way, says Pranab

Worried over deteriorating global economic situation and its impact on India, the government on Wednesday announced that it would resort to "unpopular" austerity measures to deal with fiscal problems but made it clear there is no pressing of "panic button".

Portugal hit by general strike against austerity measures

Public services across Portugal ground to a halt as unions staged a 24-hour strike against austerity measures agreed by the government in return for an international bailout.

Italy offers reform for ECB support, stems market rout

Italy buckled to world pressure in a bid to halt a market rout endangering the global economy, pledging to speed up austerity measures and social reforms in return for European Central Bank help with funding.

Greeks demonstrate against austerity measures

About 30,000 people protested in Athens` central Syntagma square on Sunday.

Portugal sets general election for June 5

Portugese PM resigned when Parliament rejected a new austerity programme.

Clashes hit massive British anti-cuts demonstration

Over 250,000 people protested the toughest spending cuts since World War II.

British MPs draw flak for defying austerity measures

Senior MPs in Britain have come under fire for celebrating New Year lavishly.

No austerity measures for France: Sarkozy

French Prez Nicolas Sarkozy rejected the claim that his govt was adopting austerity measures.