Greece in tough climbdown on radical debt promises

Last Updated: Saturday, February 21, 2015, 15:30

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.

Anti-austerity Syriza wins historic Greek election victory

Last Updated: Monday, January 26, 2015, 11:06

Anti-austerity party Syriza won a historic victory in Greece`s election Sunday, partial results showed, setting up a confrontation with the EU over its plans to renegotiate the country`s massive bailout.

Global stocks slip as anti-austerity party wins Greek election

Last Updated: Monday, January 26, 2015, 10:53

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.

Kerala govt initiates austerity measures

Last Updated: Thursday, October 10, 2013, 22:27

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

Last Updated: Tuesday, October 8, 2013, 18:46

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.

Stick to austerity steps while seeking additional funds: FinMin

Last Updated: Monday, October 7, 2013, 19:21

"Steps/measures to be taken for better fiscal and expenditure management for 2013-14...May kindly be followed strictly," the Finance Ministry said in a communication to all the financial advisors.

Govt launches austerity measures; no new jobs for a year

Last Updated: Wednesday, September 18, 2013, 20:00

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

Last Updated: Wednesday, September 18, 2013, 19:30

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.

Millions more Europeans at risk of poverty if austerity drags on: Oxfam

Last Updated: Thursday, September 12, 2013, 10:23

Up to 25 million more Europeans are at risk of sinking into poverty by 2025 if governments push on with austerity measures, international aid agency Oxfam warned Wednesday, calling such policies "moral and economic nonsense".

Brazilian president questions European austerity measures

Last Updated: Monday, November 19, 2012, 12:11

Confidence in a country's economy "is not built solely on the sacrifices" of its citizens, Brazilian President Dilma Rousseff said, adding that austerity "has its limits".