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G20 shifts focus away from austerity, vows to add $2 trillion to world economy to lift growth

The world's biggest economies vowed on Sunday to boost global growth by more than $2 trillion over five years, shifting their focus away from austerity as a fragile recovery takes hold. Finance ministers and central bank governors from the Group of……

20,000 demonstrate in Greece against austerity

More than 20,000 public sector workers demonstrated in Athens Wednesday in a strike against deeper austerity cuts that shut down courts, schools and transport, including air traffic. Police used tear gas to clear some of the protesters, who included a 500-strong anarchist group, from central Syntagma Square opposite parliament, an…

Thousands rally against Portugal’s austerity plans

LISBON — Tens of thousands of people rallied in Portugal Saturday against the government’s austerity measures, protest organisers said, amid projections that the economic situation was far worse than expected. Government and private sector workers demonstrated in Lisbon and Porto, following a call by the country’s largest trade union federation…

Greek government wins majority for second austerity law

ATHENS (Reuters) – Greek Prime Minister George Papandreou won a parliamentary majority on Thursday in favor of an implementation law for a five-year austerity plan required under an EU/IMF bailout package. With voting still continuing, Papandreou’s Socialist government had already reached the 151 votes required in the 300-seat chamber to…

D-Day for Greece as lawmakers vote on austerity

Greece faces a financial D-Day Wednesday as lawmakers vote on a tough austerity plan to secure new money from creditors to avoid sovereign default despite a last-ditch general strike by protestors. The parliament, where Prime Minister George Papandreou’s Socialists have a five-seat majority, will stage the first of two votes on a 28.4-billion-euro…

Greek protestors put up giant banner at Acropolis

ATHENS — Greek protestors put up a giant banner early Monday at Athens’ iconic Acropolis urging a “counter-attack” against an austerity package imposed by foreign creditors to avoid default. The protest by the communist trade union Pame came just ahead of a parliamentary debate on the austerity package, which the…

ECB’s Mersch says Greek default would bring “chaos”

BASEL, Switzerland (Reuters) – European Central Bank Governing Council member Yves Mersch said on Saturday a Greek sovereign debt default would lead to chaos, adding it was up to the parliament to deliver on its austerity promises. Banks and policymakers moved closer to a deal on Friday to help Athens…

Greece ‘confident’ over austerity vote: spokesman

ATHENS (AFP) – The Greek government is confident parliament will pass an austerity plan next week needed to unlock crucial EU-IMF aid in order to avoid default, a government spokesman said on Saturday. “We are totally confident,” government spokesman Ilias Mosialos told AFP. Parliament is scheduled to vote on the…

Greek PM faces critical confidence vote

ATHENS (AFP) – Greek Prime Minister George Papandreou vowed there would be no backsliding on a 28 billion euro programme of cuts ahead of a confidence vote Tuesday seen as key to calming fears for the euro’s future. Lawmakers are expected to give their verdict on Papandreou’s new-look government at…

Police, protesters clash again in Greece amid budget strike

ATHENS (AFP) – Police fired tear gas near the Greek parliament on Wednesday as clashes broke out with protesters throwing stones and firebombs during a demonstration against austerity measures, an AFP reporter said. The confrontation occurred near the finance ministry on central Syntagma Square with police seeking to block protesters…

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