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Australian treasurer rules out European-style austerity measures in latest annual budget

The Canadian PressMay 14, 2013 14:46
CANBERRA, Australia - Australia's treasurer says his economic blueprint for the fiscal year ahead will support jobs and growth without European-style austerity measures aimed at reining in the national deficit. Treasurer Wayne Swan will unveil the budget in Parliament on Tuesday that is likely to be the last for the centre-left Labor Party government, widely expected to be defeated at elections on Sept. 14.

Israel trims defence spending in austerity budget

Agence France-PresseMay 13, 2013 17:26
Israel's cabinet was meeting late into the night on Monday to thrash out details of an unpopular austerity budget, after unanimously agreeing to impose spending cuts on a reluctant defence establishment. At 3.0 billion shekels ($840.73 million, 648 million euros) the defence cuts were one billion shekels less than those sought by Finance Minister Yair Lapid, and a small part of what is still likely to be a military bill of about 56 billion shekels.

Greek budget on track to meet fiscal targets

May 12, 2013 09:45
ATHENS (Reuters) - Greece stayed on track to meet its fiscal targets in the first four months of the year, helped by cuts in public spending and investment, the finance ministry said on Friday. The primary central government deficit, which excludes local authorities, social security organizations and interest payments, narrowed to 330 million euros ($430 million) from 1.7 billion in the same period last year. That compares with an interim target for a deficit of 3.6 billion euros, it said.

Greece says Q1 budget deficit falls to less than half the target, at 2.45 billion euros

The Canadian PressMay 10, 2013 18:46
ATHENS, Greece - Greece says its painful austerity program is making progress, with the country's first-quarter budget deficit falling to less than half the sum initially forecast. Deputy Finance Minister Christos Staikouras says government overspending in January-April 2013 reached 2.45 billion euros ($3.22 billion), against a targeted 5.74 billion euros ($7.54 billion).

Italy deputy econ minister calls for more time on deficit goal

May 8, 2013 18:37
MILAN (Reuters) - Italy should seek two more years to meet its deficit targets, new deputy economy minister Stefano Fassina said in a newspaper interview on Sunday, underscoring splits within the ruling coalition on the central issue of austerity versus growth. "I consider it absolutely necessary," Fassina, a leading critic of Europe's austerity programs, told La Repubblica daily.

Troika heading to Lisbon to pore over spending cuts

May 8, 2013 18:31
LISBON (Reuters) - Portugal's lenders will this week scrutinize new spending cuts outlined by the austerity-minded government on Friday to meet the country's bailout targets, the finance ministry said on Monday. The latest 2-billion euro tranche of the 78-billion euro bailout hinges on the approval of the spending cuts, which could potentially deepen the country's recession.

Far-left protesters reject austerity on Hollande anniversary

May 7, 2013 10:35
By Muriel Boselli PARIS (Reuters) - Ten of thousands of far-left French protesters marched to denounce economic austerity on Sunday to mark the end of President Francois Hollande's first year in office. The march, organized by the Left Front coalition, drew a range of left-wingers from greens to trade unionists to the symbolic venue of Bastille Square, site of a Paris prison that was stormed during the French Revolution of 1789.

AFP World News Agenda

Agence France-PresseMay 2, 2013 17:30
What's happening around the world on Friday: -- TOP STORIES -- + EU economic forecasts announced + Obama in Mexico, heads to CentrAm summit + Rescue efforts continue at collapsed Darfur gold mine BRUSSELS: The European Commission releases its spring forecasts for both the eurozone and EU-27 on growth, inflation, employment, debt and public deficits. Economic Affairs Commissioner Olli Rehn comments the data at a press conference from 0900 GMT (FINANCE-PUBLIC-DEBT-EUROZONE)

May Day protests against austerity, 'slave labour'

Agence France-PresseMay 1, 2013 13:45
Tens of thousands of angry protesters staged traditional May Day rallies in several countries of the crisis-wracked eurozone on Wednesday, as fury erupted at demonstrations in Bangladesh after a deadly building collapse. Although numbers were lower than in previous years, thousands took to the streets in Spain, some brandishing flags reading "6,202,700", a reference to the record number out of work in the recession-hit country.

Greek unions call general strike on May Day

Agencia EFEMay 1, 2013 11:00
Athens, May 1 (EFE).- Greek unions called for a general strike on Wednesday to protest the government's decision to move the May Day holiday to next week and demand that the upcoming round of austerity measures be cancelled. Reports are that compliance with the general strike has been uneven across Greece. There has been "really good" support for the strike among government, bank, shipping, railroad and industrial workers, but support among retail workers has been tepid, a spokesman for the GSEE, Greece's largest labor union, told Efe.
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