Sentences with phrase «austerity package»
An "austerity package" refers to a set of measures or efforts taken by a government to reduce spending and increase revenue in order to address a financial crisis or control a budget deficit. It typically involves cutting public spending, reducing government services, increasing taxes, and implementing other economic measures to reduce the overall budget deficit. Full definition
European leaders are introducing a blend of austerity packages and measures to boost consumer spending to get out of the slump.
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«Opposition parties reject his latest austerity package on the grounds that the belt - tightening agreed in return for a $ 110bn ($ 155bn) bail - out is choking the life out of the economy.»
The EU has imposed austerity packages on its own member states forcing privatisation, welfare cuts and unemployment.
And again the most recent fiscal squeeze seems to fit a trend in which increases in tax revenue have played a smaller part in fiscal austerity packages in the UK over the last 30 years than in earlier periods.
Mr Baron argued that saving the euro could make the recession worse, as it forces countries to adopt severe austerity packages instead of considering the alternative of revaluing their currency.
Even though United Nations (UN) independent expert on foreign debt and human rights, Cephas Lumina had warned that the introduction of a second austerity package could constitute a serious violation against the Greeks» human rights, this did not stop the government from going forward (OHCHR, 2011) A massive wave of protests and riots full of anger and desperation erupted within the country condemning Papandreou's policies and the austerity measures.
Greece's largest labor union, the GSEE, has called a general strike for May 17 to protest the latest austerity package.
THE OFFICIAL REACTION: Italian Premier Silvio Berlusconi issued a brief statement arguing his recently passed austerity package will shore up the country's finances.
Police say 15 people were arrested and 39 people injured overnight in central Madrid after tens of thousands of people took part in a demonstration to protest the conservative government's latest austerity package.
Labour's poll ratings are bouncing around on a par with the Conservatives, a party whose populist programme includes a 1930s austerity package, the effective abolition of the NHS and the early release of some of the nation's most brutal sexual predators.
The Greek government is now in a race against time before its next payment on July 15th, with a crucial vote on its austerity package going before the parliament next week.
They will want gains on their 2008 status, especially against an unpopular government implementing an austerity package.
The Iberian country's prime minister Jose Socrates resigned yesterday after the Portuguese parliament rejected an austerity package.
The news the the UK economic recovery is struggling to gain momentum comes as a further blow to chancellor George Osborne and his austerity package.
Labour is currently ahead in the polls — at the last count some 5 % in front of the Conservatives, and this is before the real effects of the Coalition's austerity package has been felt.
A # 11bn benefit squeeze was also included in an austerity package he said would clear the structural deficit by the time of the next general election in 2015.
Campaigning group Next Generation Labour (NGL) has established itself as a leading voice within the Labour party against George Osborne's austerity package, to which the party leadership has made dangerous concessions.
Controversial Italian Prime minister, Silvio Berlusconi has said that said he will resign after an austerity package passes in the country's Parliament next week.
The austerity packages came in waves while basic needs such as food, housing, health care and heating became luxurious necessities for middle and low income citizens who saw their households» incomes steadily shrink.