Austerity

The head of the European Central Bank said today that economic growth has to be central to the plan to get Europe out of its debt crisis

Commentator Robert Reich says new recession could follow if the U.S. adopts Europe's deep cuts in government spending.

French president Nicholas Sarkozy and former Dutch Prime Minister Mark Rutte find rising popular resentment at the austerity packages they implement.

Europe's strategy for dealing with it's debt crisis was called into question over the weekend following two big political developments: One in France, one in the Netherlands.

Treasury Secretary Tim Geithner testifies on Capitol Hill Tuesday about the European Debt crisis, urging European countries to avoid 'draconian' budget cuts that could make matters worse.

Greeks rioted over the weekend, burning dozens of buildings in protest against budget cuts that are the latest condition for a $170 billion bailout from the European Union and the International Monetary Fund.

Overnight, the Greek parliament imposed drastic cuts that will layoff some 150,000 government workers, raise the retirement age and lower the minimum wage by 20 percent. What would the same cutbacks feel like here in the U.S.?

More strict austerity measures were passed in Greece over the weekend. What would the equivalent of the cuts look like here at home?

A day after the government submitted a budget cutting plan that’s needed in order for Greece to get more bailout money, there are huge strikes over the cuts going on in Athens today.

Greeks are striking again today to protest deep cuts the government wants to make in order to get more bailout money. But even the most recent austerity deal Greece proposed might not be enough.