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Public deficit

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EC gives tentative green light to French and Italian budgets

The European Commission has tentatively approved the state budgets of France and Italy. The EU executive gained new powers to police eurozone

The European Commission has tentatively approved the state budgets of France and Italy. The EU executive gained new powers to police eurozone

News

Portugal bins deficit target but promises more pain in 2015 budget

Portugal may have left the EU bailout programme. It may have just seen its debt upgraded by a major ratings agency. But its 2015 budget holds

Portugal may have left the EU bailout programme. It may have just seen its debt upgraded by a major ratings agency. But its 2015 budget holds

Business

Bye bye bailout: Portugal exits without credit line

Portugal has announced that it will be exiting its 78-billion-euro bailout programme. Lisbon was forced to seek the bailout from the European Union

Portugal has announced that it will be exiting its 78-billion-euro bailout programme. Lisbon was forced to seek the bailout from the European Union

News

Riot police launch early morning raid on occupied Greek broadcaster

Greek riot police have raided the headquarters of ERT, the occupied public broadcaster which was officially closed by the government in June. The

Greek riot police have raided the headquarters of ERT, the occupied public broadcaster which was officially closed by the government in June. The

News

Greece scraps extra holiday bonus for using computers

Greece is scrapping a perk public sector workers have enjoyed since 1989: six extra days paid holiday a year in return for using a computer. The

Greece is scrapping a perk public sector workers have enjoyed since 1989: six extra days paid holiday a year in return for using a computer. The

Business

Political uncertainty hits Italian bonds

Worries over Italy’s fragile ruling coalition government and Rome’s plans to issue more debt this year are keeping the country’s borrowing costs

Worries over Italy’s fragile ruling coalition government and Rome’s plans to issue more debt this year are keeping the country’s borrowing costs

Business

Hungary cuts borrowing costs to record low

For the 10th month running Hungary’s central bank has reduced its main interest rate by 0.25 percent. It is now at 4.5 percent, down from seven

For the 10th month running Hungary’s central bank has reduced its main interest rate by 0.25 percent. It is now at 4.5 percent, down from seven

News

Portugal given more time to hit troika targets

Portugal’s foreign lenders who granted the country a 78 billion euro bailout last year have agreed to ease their budget targets as Portugal slides

Portugal’s foreign lenders who granted the country a 78 billion euro bailout last year have agreed to ease their budget targets as Portugal slides

Business

Italy's debts deepen from helping other eurozone countries

Deeper and deeper – Italy’s public debt hit an all-time high in June of almost two trillion euros. The figures were released by the central bank

Deeper and deeper – Italy’s public debt hit an all-time high in June of almost two trillion euros. The figures were released by the central bank

Business

Greece continues hand to mouth borrowing

Athens sold 812.5 million euros worth of treasury bill on Tuesday. They are due to mature in six months. That short-term borrowing is the only way

Athens sold 812.5 million euros worth of treasury bill on Tuesday. They are due to mature in six months. That short-term borrowing is the only way

Business

More austerity for Italy

More government job cuts and other reductions in public spending have been outlined by Italy’s Prime Minister Mario Monti. Despite strike threats

More government job cuts and other reductions in public spending have been outlined by Italy’s Prime Minister Mario Monti. Despite strike threats

Business

Spanish unemployment falls, more austerity promised

There was some good news on jobs for Spain but more austerity is coming. The total number of people out of work there fell by nearly 100,000 in

There was some good news on jobs for Spain but more austerity is coming. The total number of people out of work there fell by nearly 100,000 in

Business

Dire deficit warning for France

A strong warning has been issued by France’s national audit office on the state of the economy. It said the new Socialist government of Francois

A strong warning has been issued by France’s national audit office on the state of the economy. It said the new Socialist government of Francois

News

Spain presents toughest austerity budget since Franco era

The Spanish government has presented to parliament the country’s most austere budget since the Franco dictatorship. Another round of cuts worth 27

The Spanish government has presented to parliament the country’s most austere budget since the Franco dictatorship. Another round of cuts worth 27

Business

UK barely makes its 2011/12 deficit goal

Britain’s government met its deficit reduction target for the financial year just ended – but only just – and the figures that have been released

Britain’s government met its deficit reduction target for the financial year just ended – but only just – and the figures that have been released

News

Dutch elections a 'strong possibility' after govt collapses

Dutch far-right politician Geert Wilders is in the spotlight after his party PVV refused to endorse deep austerity measures in the Netherlands

Dutch far-right politician Geert Wilders is in the spotlight after his party PVV refused to endorse deep austerity measures in the Netherlands

News

Dutch PM quits as austerity talks founder

Dutch Prime Minister Mark Rutte has resigned after talks to agree a new austerity package failed over the weekend. The coalition collapsed after

Dutch Prime Minister Mark Rutte has resigned after talks to agree a new austerity package failed over the weekend. The coalition collapsed after

Business

Spain struggles to avoid downward spiral

Protesters against the Spanish government’s latest reform moves burned rubbish at the doors of the Madrid stock exchange and spray painted anarchist

Protesters against the Spanish government’s latest reform moves burned rubbish at the doors of the Madrid stock exchange and spray painted anarchist

News

Dutch parties closer to budget deal

Tense negotiations on the budget have restarted in the Netherlands, after being brought to an early end on Wednesday. The parties are now in their

Tense negotiations on the budget have restarted in the Netherlands, after being brought to an early end on Wednesday. The parties are now in their

Business

Thousands protest against crisis cuts in Madrid

Thousands of public sector workers protested throughout Tuesday and into the evening against austerity cuts in Madrid. Carrying signs saying “

Thousands of public sector workers protested throughout Tuesday and into the evening against austerity cuts in Madrid. Carrying signs saying “