Sentences with phrase «drastic austerity measures»

Following this, the Romanian government adopted drastic austerity measures, resulting in a further 1.3 % GDP contraction in 2010.

In order to receive aid money from the International Monetary Fund and the European Union, troubled countries are being forced to implement drastic austerity measures, which are supposed to help get their books back into shape.

Greece has to introduce new drastic austerity measures worth (EURO) 14.5 billion ($ 19 billion) for 2013 - 14 in June, while the country is also due to receive a (EURO) 30 billion ($ 39.4 billion) installment of its rescue loans from the other countries in the 17 - strong eurozone and the International Monetary Fund.

He has slashed the state budget, frozen government contracts and reduced the pay of civil employees, all part of drastic austerity measures as the Kingdom of Saudi Arabia is buffeted by low oil prices.

Funeriu held the position until February 2012, when Prime Minister Emil Boc and his cabinet resigned amid protests against drastic austerity measures and widespread corruption.

In Greece and Cyprus, the privatisation measures imposed by creditors have benefited big private investors while many feel the political and economic elites have been spared by the drastic austerity measures affecting the countries.

When George Osborne stood up to deliver his «emergency» budget in June 2010, he proudly announced that despite the drastic austerity measures the Treasury was taking to tackle the deficit, he would keep up the battle against child poverty.

While Cyprus» government faces public outcry over accepting an EU bailout and Greece's rescue package appears to grow, Ireland's legal sector is beginning to see positive results from its drastic austerity measures.