Austerity Package | featured news

Solace for world leaders trying to enforce painful austerity measures: At least you're not running Romania.

The budget plan for 2011 is aimed at reassuring nervous lenders that the country can avoid a bailout by meeting its deficit-cutting targets.

An Irish public that has quietly endured harsh cuts so far may finally run out of patience and take to the streets when the deeply unpopular government unveils its next austerity measures, labor unions said on Saturday.

Spain's governing Socialists won approval for a 15 billion euro ($18.4 billion) austerity package by just one vote on Thursday, avoiding a defeat that would have rattled markets and potentially brought down the government.