04/01/2012 | Argentina

'Subsidy cuts are an act of social justice,' Social Development Minister

Social Development Minister Alicia Kirchner considered “fair” and "an act of social justice" the government's subsidy cuts scheme that takes effect as of today reaching to 2,157 inhabitants of some of the BA wealthiest areas.

03/02/2012 | Argentina

Gov't expands areas under possible subsidy cuts

The National Government decided to extend the Greater Buenos Aires areas that might be affected with subsidy cuts to public services like natural gas, electricity and water.

03/02/2012 | Argentina

Gov't cuts fiscal plans for oil companies to save $2B per year

Planning Ministry reported it has decided to suspend the application of the fiscal incentive programmes denominated Petróleo Plus and Refino Plus for the large companies of the sector. It also announced that this will allow savings of 2 B pesos per year.

23/12/2010 | Argentina

Energy problems to ease 'when power consumption lowers,' electricity companies say

After persistent electricity cuts in different parts of the city and the Greater Buenos Aires area, electricity companies Edenor and Edesur have put the problems down to the intense heat wave in the city.

23/04/2012 | Argentina

CFK blasts Europe's budget cuts, mentions Netherlands' case

President Cristina Fernández de Kirchner blasted once more the European cuts’ recipe and gave Netherlands as an example of the consequences of the cuts applied during a crisis. The Head of State referred to the resignation of the Dutch Prime Minister, Mark Rutte.

04/07/2012 | Argentina

Scioli announces subsidy cuts

Buenos Aires province Governor Daniel Scioli’s administration announced it will restrict the use of paper, telephone calls and will cut subsidies to private education in a series of measures aimed to save money in the cash-strapped province.

20/08/2012 | Argentina

'Education should never be cuts' target,' Deputy Domínguez

The head of the Lower House of Congress, Julián Dominguez, assured that "education should never be part of the cuts," referring to the current situation of Buenos Aires province government that is applying the "fine tunning" in the education policies.

17/11/2011 | Argentina

CGT praises new subsidy cuts

The CGT labour confederation praised the government’s decision to cut subsidies to large companies and high income households.

02/10/2012 | Argentina

Coast Guard officials protest against salary cuts

Coast guard officials staged a protest against the passing of a recent decree that saw “between 30 to 60 percent decrease” of their salaries yesterday.

08/11/2012 | Argentina

Some neighbourhoods still without power after mass blackout

13/11/2012 | World

Anti-austerity strikes sweep southern Europe

02/12/2012 | World

Disabled protest in Spain over austerity measures

Thousands of disabled people and their families marched in Madrid today against benefit cuts, joining Spain's swelling protest movement over austerity measures.

27/12/2012 | World

US lawmakers, Obama in last chance talks on 'fiscal cliff'

US President Barack Obama and lawmakers are launching a last chance round of budget talks just days before a New Year's deadline to reach a deal or watch the economy go off a "fiscal cliff."

07/02/2013 | World

Obama open to 'big deal' on budget, but wants revenues

US President Barack Obama told congressional Democrats today he is willing to agree to a "big deal" with Congress on spending cuts and tax reforms to end uncertainty over the budget deficit, but insisted that new revenues be part of the package.

07/10/2012 | World

British PM Cameron warns: brace for more budget cuts

Britain will have to keep cutting public spending to reduce the budget deficit, Prime Minister David Cameron said, underlining the government's tough task of trying to shunt the economy out of recession and winning back waning public support.

22/11/2011 | World

Obama pushes payroll tax cut after debt panel fails

President Barack Obama will challenge the Congress to preserve an expiring payroll tax cut as he travels to New Hampshire to seize the initiative in the wake of a collapsed effort to reduce the nation's budget deficit.

07/12/2011 | World

EU to cut aid to 19 emerging countries from China to Argentina

The European Commission decided to cut aid from its 2014 -2020 budget to 19 emerging economies together with big economies like China, India and Brazil, and also including Argentina and other ten Latin American countries, the EU's development commissioner Andris Piebalgs said today.

09/10/2012 | World

UK must cut debt or face obscurity, Cameron says

Britain must cut its budget deficit and fix its economy or face long-term decline, Conservative Prime Minister David Cameron will say on Wednesday, seeking to convince voters that his austerity plan is the only way forward.

11/10/2012 | World

IMF urges Europe to put brake on deep budget cuts

The IMF today backed giving debt-burdened Greece and Spain more time to reduce their budget deficits, cautioning that cutting too far, too fast would do more harm than good.

16/10/2012 | World

Greece, troika talks hit snag on labour reforms

Greece's labour minister and international lenders briefly suspended talks on austerity cuts to confer with their leaders on the thorny issue of labour reforms, which have prompted objections from government coalition partners.

20/10/2012 | World

British protesters demand end to 'failing' austerity

Thousands of British protesters marched through central London today against public spending cuts and tax rises enacted by a government fighting accusations it is run by an upper-class elite that ignores the plight of recession-hit voters.

05/11/2012 | World

Greece faces 48-hour strike over austerity cuts

Greek workers begin a 48-hour strike tomorrow to protest against a new round of austerity cuts that unions say will devastate the poor and drive a failing economy to collapse.

08/09/2012 | World

EU pushes more moves to stem debt crisis

European Union officials pushed to accelerate moves to stem the bloc's long debt crisis as Italian premier Mario Monti warned that economic suffering was fuelling divisive nationalism on the continent.

15/09/2012 | World

Ten of thousands of Spaniards rally against spending cuts

Tens of thousands of Spaniards rallied in Madrid to protest against spending cuts and tax rises in a country reeling from high unemployment and a gruelling recession.

27/09/2012 | World

Spain's new budget aims at spending cuts not tax rises

Spain announced a detailed timetable for economic reforms and a tough 2013 budget based mostly on spending cuts in what many see as an effort to pre-empt the likely conditions of an international bailout.

07/07/2012 | World

Greek socialist leader wants more time for deficit cuts

Greek socialist leader Evangelos Venizelos warned that the country's recession would be deeper than projected this year, and called for extending the deficit-cutting plan to three years, at a meeting with inspectors from the EU, European Central Bank (ECB) and IMF.

16/07/2012 | World

IMF cuts global growth forecast; warns on euro zone

The International Monetary Fund on Monday cut its global growth forecast and warned that the outlook could dim further if policymakers in Europe do not act with enough force and speed to quell their region's debt crisis.

29/07/2012 | World

Greek leaders agree most cuts, lenders stay on

Political leaders in Greece have agreed on most of the austerity measures demanded by its creditors and are now eyeing pension and wage cuts to find the final 1.5 billion euros of savings still needed.

26/04/2012 | World

EU clock ticking for Dutch budget talks

The Dutch caretaker government scrambled to strike a deal with opposition parties on a 2013 budget that would cut the deficit, before an EU deadline, with ministers and opposition politicians saying there was scope for progress.

01/05/2012 | World

Europeans protest austerity at May Day rallies

Thousands of workers across southern Europe protested against spending cuts in annual May Day rallies today, before weekend elections in Greece and France where voters are expected to punish leaders for austerity.

31/05/2012 | World

Fitch downgrades eight Spanish regions, pushes for more austerity

Fitch Ratings downgraded eight regions of Spain warning that a failure from the government to adopt new measures would result in further ratings cuts.

08/04/2011 | World

US House Republicans told of USD$39 bln spending plan

US House of Representatives Republican leaders presented to their membership a USD$39 billion spending cut plan aimed at averting a government shutdown, according to Republican lawmakers.

14/04/2011 | World

Obama: US must use tax code to help meet deficit targets

US President Barack Obama said the United States must use the tax code to help meet its targets for reducing the deficit and said that the wealthiest Americans must help achieve that goal.

02/07/2011 | World

Obama says ending tax breaks required to cut deficit

President Barack Obama pressed his case today for achieving deficit reduction, in part by ending tax breaks and singling out hedge fund managers, oil companies and billionaires to take the hit.

18/10/2011 | World

Moody's cuts Spain by 2 notches, sees funding risks

Moody's Investors Service cut Spain's sovereign ratings by two notches, saying high levels of debt in the banking and corporate sectors leave the country vulnerable to funding stress.

14/02/2012 | World

Geithner says Obama's plan will axe dozens of corporate tax breaks

US Treasury Secretary Tim Geithner today said the Obama Administration's plan to revamp the corporate tax system will cut "dozens and dozens" of tax breaks enjoyed by business, while keeping a limited number that focus on keeping jobs in the United States.

21/02/2012 | World

Europe seals new Greek bailout, doubts remain

Euro zone finance ministers agreed a 130-billion-euro (US$172 billion) rescue for Greece today to avert an imminent chaotic default after forcing Athens to commit to unpopular cuts and private bondholders to take bigger losses.

23/02/2012 | World

Japan may cut Iran oil imports by over 20 percent

Japan may cut Iranian crude oil imports by a more-than-expected 20 percent as it seeks a waiver from US sanctions, a newspaper reported, a move which would spare its banks from a major blow but also boost its rising fuel import bill.

28/02/2012 | World

Greece cuts minimum wage as austerity drive begins

Greece approved bitter new austerity measures, slashing the minimum wage and chopping pensions as Athens began implementing measures demanded by international lenders in return for a 130 billion euro rescue package.

29/02/2012 | World

Thousands of Spanish students protest against cuts

Tens of thousands of students took to the streets of Spanish cities to protest against government spending cuts that have left many classrooms without heating.

08/10/2012 | Sports

Spanish sports federations facing 34% subsidy cuts

State funding for Spain's sports federations will be slashed by more than a third next year to 31 million euros ($40.20 million), secretary of state for sport Miguel Cardenal told parliament.