After years of stinging austerity measures, Greece emerged on Monday from its third and last bailout, although officials warn the country still has a "long way to go". The European Union, the European Central Bank and the International Monetary Fund loaned debt-wracked Greece a total of 289 billion euros ($330 billion) in three successive programmes in 2010, 2012 and 2015. The economic reforms the creditors demanded in return brought the country to its knees, with a quarter of its gross domestic product (GDP)…
TEHRAN: Despite demonstrators chanting provocative slogans against Iran's Islamic rulers, analysts say the roots of the current protests lie in the same anger at economic austerity that has roiled many countries. Two people have been killed and hundreds arrested in protests that began in second city Mashhad on Thursday. Though they started over high living costs, they quickly spread across the country and turned against the Islamic system as a whole, with chants of "Death to the dictator" and attacks on symbols of the…
WASHINGTON: Austerity policies imposed by the International Monetary Fund may harm parents' ability to care for their children's health, according to a study published Monday. The steep cuts in social spending the IMF often demands can curtail the availability of education, leaving parents poorer, less employable and more vulnerable to economic change, according to the study. Those who do benefit from an education can suffer from reduced quality teaching -- with notable consequences for the health of their children,…
LONDON: Radical leftwinger Jeremy Corbyn on Saturday won the crown of Britain's main opposition Labour party in a landslide victory, becoming the nation's most left-wing political leader for over 30 years.
ATHENS: In a historic, rushed referendum on Sunday that looks too close to call, indebted Greece is voting whether to accept worsening austerity or back the government's rejection, in a gamble that could see it crash out of the euro.
NEW YORK: The euro retreated against other major currencies Friday as struggling Greece refused to meet with its international creditors and rejected fresh loans, and the eurozone showed weaker inflation.
ATHENS: Radical left party Syriza swept to power in Greece on Sunday promising to end years of painful austerity policies, in an election victory that puts the country on a collision course with the EU and international creditors.