Tag: austerity

As they make cuts to their budgets to address the recession, EU ministers are failing to recognise that efficient healthcare systems drive greater prosperity, says EU Health Commissioner Tonio Borg.

Banks cut 5,500 branches across the European Union last year, 2.5% of the total, leaving the region with 20,000 fewer outlets than it had when the financial industry was plunged into crisis in 2008.

A resounding “no” to World War II compensations and a second "haircut" to shave off parts of Greece's debt mountain marked the visit of the German finance minister Wolfgang Schäuble yesterday (18 July) in Athens. EurActiv Greece reports. 

Greek Prime Minister Antonis Samaras yesterday (16 June) dismissed talk of an early election over the abrupt closure of the state broadcaster, which brought protests from viewers, workers, the opposition and his coalition partners.

The International Monetary Fund (IMF) said yesterday (5 June) that it lowered its normal standards for debt sustainability to bail out Greece and its projections for the Greek economy may have been overly optimistic. The Commission, however, downplayed the importance of the report.

Workers in EU institutions are preparing to go on strike on 5 June if the European Council, where member states sit, get the upper hand in a proposed reform of the institutions’ staff regulations. Trade unions described the Council position as the “most serious attack” on civil servants’ incomes the EU has ever seen.

European Commission President José Manuel Barroso urged France on Wednesday (15 May) to push ahead faster with economic reforms in return for being granted two more years as promised to bring its budget deficit below the EU limit. The Commission will present more detailed recommendations to France on 29 May.

The EU’s transformation into a more integrated bloc centred on the eurozone will be a key part of the German election campaign, according to Karl Aiginger, director of the Austrian Institute for Economic Research (WIFO). But politicians will probably give in to “populist statements”, he warns, saying the debate on Europe is currently “very irrational” in Germany.

Europe’s economy will contract by more than expected this year and budget deficits will decline more slowly, the European Commission said on Friday (3 May), signalling that rising unemployment and the bleak outlook allow some scope for slowing the pace of austerity.

Italy's new Prime Minister Enrico Letta won his first vote of confidence in parliament on Monday (29 April), after promising to press for a change to the European Union's focus on austerity and pursue economic growth and jobs.

France and Spain fell short of their budget deficit goals last year and debt levels swelled across the eurozone but the pressure may be easing on Paris and Madrid as the European Commission signals an end to sharp spending cuts.

If the conclusions from the last EU summit refer to the “social challenge” of unemployment, the European Commission can now be considered the more realistic of EU institutions in referring to a “social crisis,” writes Klaus Heeger.

EU heads of state and government met  for a two-day EU summit in Brussels on 14-15 March, with the worsening employment situation and foreign relations dominating the agenda. France and Italy won support for a growth-friendly interpretation of EU budget rules, while Cameron and Hollande failed to convince partners to lift the bloc's arms embargo on Syria.

Bulgarian President Rossen Plevneliev said yesterday (6 March) in Brussels that his country had the resources to spend more on social programmes to address the country's political, social and economic crises.

Spain's aid budget may be contracting sharply, but with greater craft and focus it can demonstrate that money isn't everything, writes Jonathan Glennie.

Italians head to the polls on 24-25 February to replace a technocratic government charged with halting the country’s economic and fiscal decline. But after wearying months of austerity and instability, voters appeared to have no clear favourite among familiar faces as well as wildcard candidates. EurActiv Italia reports.

The first debate held yesterday (18 February) in the European Parliament since EU leaders agreed a budget for 2014-2020 showed widespread opposition to the deal from major political groups. Only the European Conservatives and Reformists group hailed the deal, which needs approval of the Parliament.

Thousands of health workers, on strike since last month, marched on Sunday [9 December] in Madrid to protest against budget cuts and plans by the regional authority to privatise the management of public hospitals and medical centres.

The full effects of a decline in public health spending in Europe are still not visible, public health experts say following a report showing that European public health spending is falling for the first time since the 1970s.

EU citizens feel insecure and that their voices aren't reaching the ears of their political leaders despite sometimes violent demonstrations. Desperation is growing in several EU countries, says Gilbert Fayl.

SPECIAL REPORT / Austerity is leading to an increase in mental illness and suicide rate in crisis-hit countries but also offers Europe the chance to embrace radical health innovations, experts at the Gastein forum heard.

Protestors clashed with police in Spain's capital yesterday (25 September) as the government prepared a new round of unpopular austerity measures for the 2013 budget.