Europe Debt, Austerity | featured news

Riot police fired tear gas at youths hurling rocks and petrol bombs near the Greek finance ministry Tuesday, trying to quell the anger unleashed during mass protests and a general strike as parliament debated new cost-cutting measures.

Austerity measures being adopted by many industrialized world governments in the wake of the 2008-09 financial crisis are undermining economic recovery, a United Nations report said on Wednesday.

Portugal will elect a new government on Sunday which will lead the country through a period of deep austerity and recession after it received a 78-billion-euro ($114 billion) bailout from the European Union and IMF.