What you need to know about “austerity”

Nov 16, 2020
Calls for austerity likely slowed the economic recovery from the Great Recession. Could that happen again?
Government spending during a recession needs to be like "turning into a skid," said economist J.W. Mason. "When your tax revenue is falling, you need to pick up the spending."
Matt Cardy/Getty Images

Greece emerges from bailouts, but Greeks remain skeptical

Aug 14, 2018
The country's economy is improving, but many still bear the scars of the crisis.
In this photo illustration, a one euro coin stands on a map of Greece showing the city of Athens.
Sean Gallup/Getty Images

Puerto Rico debt plan calls for austerity, public spending cuts

Mar 14, 2017
On Monday, Puerto Rico's financial oversight board approved a new debt plan.
Filipa Rodrigues/Marketplace

Prior to G7 summit, finance leaders meet to discuss a stagnant Japan

May 20, 2016
Central bankers and finance ministers debate currency and stimulus in advance of next week’s summit.
Japan Finance Minister Taro Aso (top, second right) speaks as he leads the first session of the G7 Finance Ministers and Central Bank Governors' Meeting in northern Japan on Friday.

Spain election latest evidence of anti-austerity anger

Dec 21, 2015
Divisive results dealt a blow to the party that oversaw Spain's economic recovery.

This might hurt a bit: The downside of Ukraine's IMF loan

Feb 12, 2015
A $17.5 billion IMF package for Ukraine comes with challenging conditions.

Will Greek voters make a great leap?

Polls suggest that elections this Sunday could bring to power a hard-left party called Syriza

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The state of job training around the world: What job training?

Jul 18, 2013
Five years after the Great Recession, industrialized countries are still down about 16 million jobs. And many of those without work are in need of a skills upgrade.

A grim innovation from Greece: The slow-motion layoff

Jul 17, 2013
The Greek parliament votes today on whether to send as many as 25,000 government workers into a so-called 'labor reserve.'

Is anti-austerity fever cooling off in Greece?

May 1, 2013
Protestors in Greece are rallying against austerity. The gathering comes just days after the country's government voted to allow 15,000 public employee layoffs.