Europe, Austerity | featured news

Protesters are expected to march through London on Saturday to voice their opposition to austerity measures imposed by the UK government, union leaders said.

Greece is inching towards an agreement with its international debt inspectors as they struggle to hammer out the details of (EURO)13.5 billion ($17.5 billion) in austerity measures for the next two years, a package essential for Greece to receive the next installment of its vital bailout funds.

Tens of thousands of Spaniards and Portuguese rallied in the streets of their countries' capitals Saturday to protest enduring deep economic pain from austerity cuts.

To every Portuguese, the town of Grandola is a cradle of the 1974 revolution that ended decades of dictatorship, but nowadays it is hard to find even a spark of revolt here against the worst economic hardship in the country's recent history.

Greece's conservative New Democracy party has regained an opinion poll lead that would allow the formation of a pro-bailout government committed to keeping the country in the euro zone, a batch of new surveys showed on Saturday.

President Obama and leaders of the world’s other leading economies Saturday embraced a policy of growth over austerity in Europe as they met on the cloistered grounds of Camp David to talk about fending off a spread of the Eurozone crisis.

Greek voters are returning to the establishment parties that negotiated its bailout, a poll showed on Thursday, offering potential salvation for European leaders who say a snap Greek election next month will decide whether it must quit the euro.

Francois Hollande was greeted by a thunderstorm in Paris and storm clouds gathering over the euro zone as France's first Socialist president in 17 years was sworn in on Tuesday before flying to Berlin to plead his case for less austerity in Europe.

The crushing defeat follows elections that rejected austerity policies in Greece, France and Italy, severely weakening Chancellor Merkel's hand at her first talks with FranCois Hollande, the new French President, in Berlin tomorrow (TUES).

Prime Minister Mariano Rajoy on Sunday defended his government's harsh austerity measures aimed at correcting Spain's grim economic forecast, one day after tens of thousands of Spaniards took to the streets in protest of his handling of the country's worst crisis in decades.