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Group of 8 Leaders Confront German Focus on Austerity
Keywords:
The joint statement after the G-8 summit stated that "our imperative is to promote growth and jobs." It stated the budget deficits need to be addressed but said "spending cuts must "take into account countries' evolving economic conditions and underpin confidence and economy recovery." Germany's Merkel in her remarks said growth and deficit reduction supported each other, that "we have to work on both paths, and the participants have made clear, and I think this is great progress." Opposition Social Democrats in Germany say Ms. Merkel is adept at changing as the situation changes, and it appears Merkel is making the transition away from strict austerity policies she had championed earlier. Especially now with fresh elections in France, Netherlands and Greece, and the election of Francois Hollande on a pro-growth platform, the German position of strict austerity is being increasingly questioned on all sides. French president Hollande met U.S. president Obama at a pre-arranged meeting prior to the summit. Obama and Hollande see the need to reduce high unemployment in the U.S. and Europe by encouraging growth, creating a common interest.
The G-8 Camp David, Maryland, summit meeting of May 2012 focussed on promoting growth with fiscal prudence
05/19/2012
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At Summit, a Struggle for Consensus on Economic Woes
Wall Street Journal 05/19/2012
World leaders agree on more spending to boost Europe’s economy - The Washington Post
Washington Post 05/20/2012
Group of 8 Leaders Confront German Focus on Austerity
New York Times 05/19/2012
Austerity measures facing European countries in 2011-2013
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German Election Overturns Political Order
Wall Street Journal 09/23/2013
New York Times 11/03/2013
The 'Silent Austerity' in Banking
Wall Street Journal 01/21/2014
How Righteousness Killed the World Economy
New York Times 10/12/2014
New York Times 11/30/2014
Austerity in Europe Brings Bitterness Unknown in Postwar Era
New York Times 11/13/2011
Conservative leader Osborne takes on Britain's deficit in earnest and presents an austerity plan.
10/08/2009
All sections of U.K. society are asked to share the burden of reducing the deficit.
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U.K. Politicians Vie to Address Fall in Living Standards
Wall Street Journal 11/18/2013
Britain: Sparing Health Care from Budget Cuts
BusinessWeek 10/14/2010
U-Turn in the U.K.: Big Spending Cuts
Wall Street Journal 10/14/2010
Britain Details Radical Spending Cuts, Citing Debt
New York Times 10/20/2010
Tax rates in Britain: François Miliband
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U.K. Plans New Taxes on Banks, Multinationals
Wall Street Journal 12/04/2014
Faces of recession battered Greece as new austerity programs are adopted by the government
06/28/2011
Grouped Articles
EU Dismisses IMF's Criticism On Greek Bailout
Wall Street Journal 06/07/2013
New York Times 11/03/2013
Greece’s prescription for a health-care crisis - The Washington Post
Washington Post 02/22/2014
Across Athens, Graffiti Worth a Thousand Words of Malaise
New York Times 04/15/2014
Greek Patience With Austerity Nears Its Limit
New York Times 12/29/2014
Greece’s new prime minister wants Germany to pay for Nazi war crimes - The Washington Post
Washington Post 01/26/2015
The focus on competitiveness by economists, credit ratings agencies, and European leaders as austerity measures alone won't work
02/05/2011
Mario Monti focusses on the need for investing in the economy in an interview with German newspaper Die Welt during a January 2011 visit to Berlin. S&P economists and Nobel winner Stiglitz also emphasize this after a downgrade of France's credit rating- the need for improved competitiveness for the economies of France, Spain Portugal and Italy.
Grouped Articles
New York Times 09/25/2011
Wall Street Journal 05/29/2013
The Next First (and Only) 100 Days
New York Times 12/10/2011
A Proud Nation Ponders How to Halt Its Slow Decline
New York Times 08/24/2013
After a Recession in Portugal, the Tiny Green Fruits of Success
New York Times 08/28/2013
France Says It Will Miss Budget Deficit Targets
Wall Street Journal 09/12/2013
Italy's 2013 budget and deficits
05/14/2010
The impact on economic growth of austerity measures.
Grouped Articles
Italy Urged to Resist a Relapse in Spending
Wall Street Journal 05/03/2013
Europe to Vote on Tougher Rules for Currency
New York Times 09/27/2011
Wall Street Journal 05/14/2010
Euro Zone Deficit Hits Target for First Time Since 2008
New York Times 04/23/2014
EU Won’t Reject French, Italian Budgets
Wall Street Journal 10/28/2014
European Union Blinks in Budget Battle With Italy and France
New York Times 10/28/2014
The twin problems of lack of growth under austerity plans and overvalued currencies of Italy, Greece, Spain and Portugal
06/24/2011
The twin problems of lack of growth and overvalued currencies under the solutions of austerity plans without debt reduction and a single euro currency create impossible odds for a resolution of the eurozone financial crisis. Germany's insistence on tough austerity measures, European banks delaying restructuring of bad loans similar to the U.S. Brady plan, failure of politicians in Italy and Greece to take early action, and small steps by policymakers, are compounding the effects of the eurozone crisis.
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German Election Overturns Political Order
Wall Street Journal 09/23/2013
New York Times 11/03/2013
Germany's Surplus Isn't the Problem
Wall Street Journal 11/11/2013
The 'Silent Austerity' in Banking
Wall Street Journal 01/21/2014
Italy Central Banker Is Open to 'Bad Bank'
Wall Street Journal 02/10/2014
Saying No to Austerity, Spain Unveils Tax Cuts
New York Times 06/20/2014
Greece's austerity measures and why the cuts hit lower paid workers the most
02/13/2012
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Greece’s prescription for a health-care crisis - The Washington Post
Washington Post 02/22/2014
Greek Patience With Austerity Nears Its Limit
New York Times 12/29/2014
Greece Wanted to Reframe Europe’s Austerity Debate. It Failed.
New York Times 07/01/2015
Mirage of Economic Turnaround Masked New Greek Crisis in the Making
Wall Street Journal 07/05/2015
Greek leaders’ priorities questioned - The Washington Post
Washington Post 02/19/2012
New York Times 02/13/2012
The austerity spending cuts and new taxes in Greece- 2011-2012
06/28/2011
Grouped Articles
Greek Patience With Austerity Nears Its Limit
New York Times 12/29/2014
Greek Ship Owners Fear Syriza Tax Plan
Wall Street Journal 01/28/2015
Greece Wanted to Reframe Europe’s Austerity Debate. It Failed.
New York Times 07/01/2015
Mirage of Economic Turnaround Masked New Greek Crisis in the Making
Wall Street Journal 07/05/2015
Wall Street Journal 06/29/2011
Two-Day Strike in Greece Ahead of Austerity Vote
New York Times 06/28/2011
Protests against austerity measures in Spain
05/13/2012
Grouped Articles
Still Sputtering, Spain Turns Away From Cuts
Wall Street Journal 05/12/2013
Saying No to Austerity, Spain Unveils Tax Cuts
New York Times 06/20/2014
Tens of Thousands Protest Austerity in Spain
New York Times 05/13/2012
World leaders agree on more spending to boost Europe’s economy - The Washington Post
Washington Post 05/20/2012
Group of 8 Leaders Confront German Focus on Austerity
New York Times 05/19/2012
How National Belt-Tightening Goes Awry - Economic View
New York Times 05/19/2012
The 2012 austerity budget in Spain under prime minister Mariano Rajoy
03/30/2012
Grouped Articles
Still Sputtering, Spain Turns Away From Cuts
Wall Street Journal 05/12/2013
German Election Overturns Political Order
Wall Street Journal 09/23/2013
Spain Emerges From Recession but Sees More Austerity Ahead
Wall Street Journal 09/23/2013
New Spanish Budget Free of Austerity Measures
New York Times 09/27/2013
Saying No to Austerity, Spain Unveils Tax Cuts
New York Times 06/20/2014
How Righteousness Killed the World Economy
New York Times 10/12/2014
Strikes and labor protest in Britain over austerity measures 2011-2012
08/14/2010
Grouped Articles
U.K.'s Labour Party Moves Back Toward Socialist Ideas
Wall Street Journal 09/25/2013
U.K. Politicians Vie to Address Fall in Living Standards
Wall Street Journal 11/18/2013
Radical Britain: The unlikely revolutionary
Economist 08/14/2010
Universities in Britain Brace for Cuts in Subsidies
New York Times 10/15/2010
Britain Details Radical Spending Cuts, Citing Debt
New York Times 10/20/2010
New York Times 10/21/2010
The IMF's changing views on the value of austerity measures and the "German hypothesis"
04/05/2009
The IMF's economic models suggest that it would take 5 years for the breakeven point at which the economic benefits of austerity measures start exceeding the costs of the measures in declining GDP and higher unemployment. The German view is that this can occur in the short term.
Grouped Articles
Policy âTroikaâ for Europe Financial Woes at Odds
New York Times 06/07/2013
German Election Overturns Political Order
Wall Street Journal 09/23/2013
Known for Tight Spending, I.M.F. May Have to Loosen Reins After G-20 Windfall
New York Times 04/05/2009
Germany Considers Remedies for Slowing Growth
Wall Street Journal 10/08/2014
Merkel Hints at Economic Policy Shift in Germany
New York Times 10/09/2014
How Righteousness Killed the World Economy
New York Times 10/12/2014
Ireland's austerity measures and banking crisis.
04/03/2009
Grouped Articles
In Ireland, Hope of Retroactive Relief
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Ireland Faces Seventh Year of Austerity
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Hardships Linger for a Mending Ireland
New York Times 12/11/2013
New York Times 04/03/2009
Support of Anglo Irish Bank Strains Ireland
New York Times 08/31/2010
Ireland Faces Battle Over Europe Stability Treaty
New York Times 05/01/2012
The G-8 Summits- 2010-2012
05/27/2011
Grouped Articles
G-8 Leaders in France Focus on Mideast
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At Summit, a Struggle for Consensus on Economic Woes
Wall Street Journal 05/19/2012
Group of 8 Leaders Confront German Focus on Austerity
New York Times 05/19/2012
Britain's perilous path with austerity cuts, inflation and lower economic growth- 2011-2015
06/22/2010
Grouped Articles
The economy: On a wing and a credit card
Economist 07/08/2013
U.K. Moves To Tackle Income Squeeze
Wall Street Journal 08/20/2013
The Curious Case of Britain's Economic Recovery
Wall Street Journal 10/21/2013
U.K. Politicians Vie to Address Fall in Living Standards
Wall Street Journal 11/18/2013
U.K. Government Prepares For Deep Budget Cuts
Wall Street Journal 06/22/2010
British Towns and Institutions Reel From First Austerity Cuts
New York Times 08/09/2010
Cultural divisions in the European Union
05/26/2010
Austerity programs, the pressure on Germany to fund the debt reduction programs in the EU, and historical allusions in the media, create a difference in cultural perceptions and cultural division in the European Union.
Grouped Articles
New York Times 05/26/2010
German Election Overturns Political Order
Wall Street Journal 09/23/2013
New York Times 11/03/2013
The 'Silent Austerity' in Banking
Wall Street Journal 01/21/2014
The Rest of Europe vs. Germany
New York Times 02/16/2012
New York Times 02/19/2012
France's austerity plans and pension reform 2010-2014
06/16/2010
Grouped Articles
New York Times 11/10/2013
Hard times force French to work longer -- to age 62
Washington Post 06/16/2010
France's Lagarde Forecasts Austerity
Wall Street Journal 06/23/2010
French Unions Protest Pension-Age Overhaul
Wall Street Journal 09/08/2010
French Senate Passes Pension Bill
New York Times 10/22/2010
French Cabinet Is Dissolved, a Victim of Austerity Battles
New York Times 08/25/2014
Italy, Spain and austerity measures- 2011-2013
08/08/2011
Analysts point to the austerity measures adopted by Italy and Spain much earlier than other countries in the eurozone. The risk now is cutting into muscle as growth for 2011 is expected to be below 1% in both countries. Italy say analysts is actually in surplus when the interest on debt is excluded.
Grouped Articles
Italy Urged to Resist a Relapse in Spending
Wall Street Journal 05/03/2013
Still Sputtering, Spain Turns Away From Cuts
Wall Street Journal 05/12/2013
German Election Overturns Political Order
Wall Street Journal 09/23/2013
New York Times 11/03/2013
Saying No to Austerity, Spain Unveils Tax Cuts
New York Times 06/20/2014
European Finance Ministers Support Investment Program
New York Times 09/14/2014
Italy's austerity measures- 2011-2013
06/30/2011
Grouped Articles
Italy Urged to Resist a Relapse in Spending
Wall Street Journal 05/03/2013
How Righteousness Killed the World Economy
New York Times 10/12/2014
EU Won’t Reject French, Italian Budgets
Wall Street Journal 10/28/2014
New York Times 11/30/2014
Italian Government Advances Austerity Plan
New York Times 06/30/2011
Wall Street Journal 07/12/2011
Greece, debt and the new austerity budgets 2011-2013
12/10/2009
Grouped Articles
Greek Draft Budget Sees Primary Surplus, Return to Growth
Wall Street Journal 10/14/2013
Greek Patience With Austerity Nears Its Limit
New York Times 12/29/2014
Greece’s new prime minister wants Germany to pay for Nazi war crimes - The Washington Post
Washington Post 01/26/2015
Greece Wanted to Reframe Europe’s Austerity Debate. It Failed.
New York Times 07/01/2015
Mirage of Economic Turnaround Masked New Greek Crisis in the Making
Wall Street Journal 07/05/2015
Greece: Austerity Budget Passed
New York Times 12/25/2009
Greece's austerity measures, politics and the 2012 elections
07/26/2011
The prospects of combined vote of 30-35% for the two major political parties of Samaras and Venizelos with the rest of the vote splintered among extreme right and left wing parties, in the the 2012 Greece elections.
Grouped Articles
Frenemies: Two Greek Rivals Hold Nation's Fate in Balance
Wall Street Journal 07/26/2011
New York Times 06/23/2013
Fractious Greek Government Splits
Wall Street Journal 06/25/2013
Greece Wanted to Reframe Europe’s Austerity Debate. It Failed.
New York Times 07/01/2015
Greece's Fringe Parties Surge Amid Bailout Ire
Wall Street Journal 03/28/2012
In Greece, austerity kindles deep discontent - The Washington Post
Washington Post 03/31/2012
Why the March 2012 Greece bailout protects the EU, but is bad for Greece and for democracy
06/30/2011
Nothing to be proud of, says the Journal in its editorial on Feb. 29, 2012. For Greece the terms leave no hope for a return to growth, and that the two political parties in Greece were required to pledge their support for austerity measures against overwhelming public opposition in Athens says little for democracy. It would have been better for Greece to go into a planned default 2 years ago with steeper haircuts for European banks and reducing Greece's debt to a manageable level lower than the over 120% of GDP in 2020 of the March 2012 bailout plan, says the Journal.
Grouped Articles
EU Dismisses IMF's Criticism On Greek Bailout
Wall Street Journal 06/07/2013
Policy âTroikaâ for Europe Financial Woes at Odds
New York Times 06/07/2013
New York Times 11/03/2013
Wall Street Journal 03/12/2012
Greece’s new prime minister wants Germany to pay for Nazi war crimes - The Washington Post
Washington Post 01/26/2015
Mirage of Economic Turnaround Masked New Greek Crisis in the Making
Wall Street Journal 07/05/2015
The 2010 austerity budget and the European financial crisis affecting Spain.
05/13/2010
The contagion effect affecting Spain after Greece and Portugal similar to the manner in which the Asian financial crisis spread during a prior decade.
Grouped Articles
New Spanish Budget Free of Austerity Measures
New York Times 09/27/2013
Saying No to Austerity, Spain Unveils Tax Cuts
New York Times 06/20/2014
Spain is simply shifting the problem
Wall Street Journal 05/14/2010
Amid Europe's challenges, citizens face lifestyle shifts
Wall Street Journal 05/14/2010
French Cracks Are Showing in Euro-Zone Core
Wall Street Journal 05/13/2010
Wall Street Journal 05/13/2010
The IMF comes out on Spain's side in 2012 saying deficit reduction should have taken into account the weaker economic outlook
09/27/2011
The IMF in April 2012 says cuts in Spain may be too severe and cautioned that austerity measures could push Europe into recession.
Grouped Articles
Still Sputtering, Spain Turns Away From Cuts
Wall Street Journal 05/12/2013
Europe to Vote on Tougher Rules for Currency
New York Times 09/27/2011
German Optimism Depends On Spanish Deficits
Wall Street Journal 09/25/2013
The 'Silent Austerity' in Banking
Wall Street Journal 01/21/2014
Euro Zone Deficit Hits Target for First Time Since 2008
New York Times 04/23/2014
Saying No to Austerity, Spain Unveils Tax Cuts
New York Times 06/20/2014
The impact of austerity measures on various parts of Britain.
07/03/2010
Impact of the Cameron government spending cuts across the UK.
Grouped Articles
U.K. Politicians Vie to Address Fall in Living Standards
Wall Street Journal 11/18/2013
British Towns and Institutions Reel From First Austerity Cuts
New York Times 08/09/2010
Radical Britain: The unlikely revolutionary
Economist 08/14/2010
As the Working Poor Become More Common in Britain, So Does Hunger
New York Times 01/02/2014
U-Turn in the U.K.: Big Spending Cuts
Wall Street Journal 10/14/2010
Jack Monroe Has Become Britain’s Austerity Celebrity
New York Times 01/14/2014
Poverty and hardship in Ireland after austerity measures by the government in 2010
01/04/2009
Grouped Articles
The New Generation Leaving Ireland
BusinessWeek 02/11/2010
Ireland Faces Seventh Year of Austerity
Wall Street Journal 10/16/2013
New York Times 04/03/2009
Ireland Faces Battle Over Europe Stability Treaty
New York Times 05/01/2012
Irish Cutbacks Pile It on for 'New Poor'
Wall Street Journal 11/27/2010
Ireland's new government: Enda the party
Economist 03/05/2011
Portugal's austerity measures and the financial crisis 2010-2015
09/27/2010
Collapse of the government in Portugal in 2011, after failing to win support for further austerity measures.
Grouped Articles
Wall Street Journal 05/03/2013
Portugal Returns to Bond Market
Wall Street Journal 05/08/2013
Portugal Plans Cuts in Spending
Wall Street Journal 05/30/2013
Portugal's Government Thrust Into Turmoil
Wall Street Journal 07/03/2013
Lisbon Cabinet Shuffle Buoys Junior Coalition Party Leader
Wall Street Journal 07/08/2013
Portugalâs President Calls for Early Elections
New York Times 07/11/2013
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