Sentences with phrase «for harsh austerity»

The Greeks lived large borrowing in euros, which Germany backed with its sterling credit, and then challenged Germany's demands for harsh austerity when it ran into financial problems.

Not exact matches

The second problem is that in order to get some of its debt absolved, Puerto Rico agreed to impose the harsh austerity measures — reducing education and health spending, for instance — that hurt growth at the same time that thousands are fleeing to the mainland in search of economic opportunity.

According to early reports, this Memorandum cover the Greece's financing needs for the next three years, but will require the harshest set of austerity measures of the three fiscal adjustment programmes to date.

Greeks have witnessed discussions shift from $ 1 billion in additional measures (last proposal put forth by the New Democracy - PASOK government following demands from creditors), to over $ 10 billion in additional measures last month, to today's «Greekment» according to which Greece will undergo harsher austerity (for next three years) than at any other point since the crisis began.

SÃO PAULO, BRAZIL — Strapped for cash after 3 years of austerity budgets, Brazilian scientists are bracing for an even harsher year ahead.