They fear nations could struggle to recover in the same way as countries in Latin America, South-east Asia and Africa suffered after austerity measures
in the 80s and 90s.
The question has to be asked - here as well as in places like Greece - whether austerity measures
are creating a vicious circle of falling growth and tax revenues combined with the need to pay out higher state benefits, thereby adding to Government debt rather than reducing it.
The Government says that austerity measures
are vital to cutting the deficit.
The event is aimed at calling on the coalition to end its public sector spending cuts and other austerity measures
ISLAMABAD -- The government has taken several austerity measures
with an aim to cut down current expenditures during the current financial year (2012-13).
Voting in a general election that could decide whether debt-stricken Greece remains in the eurozone started Sunday, with opinion polls showing the rival camps for and against fiscal austerity measures
running neck and neck.
On Sunday, the conservative party advocating austerity measures
-- which Greece has agreed to in exchange for receiving a bailout to tackle its debt problem -- came first in the closely watched election, raising the likelihood it will form a coalition government with another pro-bailout party.
France will be able to bring its public debt down to 3% of the GDP in 2013 "without austerity measures
," Finance Minister Pierre Moscovici said after his meeting, on 4 June in Brussels, with Economic Affairs Commissioner Olli Rehn.
New Delhi, May 18 ( ANI ): Union Finance minister Pranab Mukherjee on Friday hinted the government will be forced to take "unpopular" austerity measures
to stem the downward trend in the economy, two days after announcing in Parliament that the country will have to tighten its belt.
Besides PASOK, who are nevertheless strongly supportive of the massive austerity measures
that they themselves implemented together with New Democracy, the new Greek Parliament has two other more leftist parties, the more radical Communist Party (8.
The ESRI said while austerity measures
are having a damping effect, the Government has policy options to stimulate growth.
Nova Makedonija carries an article about the verbal war between Greece and Germany and cites German Finance Minister Wolfgang Schable comparing Greece to a bottomless pit and raising serious doubts that the leadership in Athens would implement the austerity measures
that Europe demands of Greece.