

Germany: €31 Billion Budget Cut Sparks Disagreement in ‘Traffic Light’ Coalition
The proposed budget cuts would affect all government departments except defense, labor, and welfare.
The proposed budget cuts would affect all government departments except defense, labor, and welfare.
The Greek economy was almost destroyed because politicians prioritized the Greek budget deficit over the Greek economy, and because economists at the IMF were not properly educated.
Judging from the comments by central bank president György Matolcsy, Hungary could join the euro in 2030 or soon thereafter. Would such a membership be good for Hungary?
We will only get one chance to save America from the abyss of a debt crisis. Let us make sure we get it right on day one.
Politicians are known for two things: they never do what they should, and they always do what they shouldn’t. First, they do not prevent a debt crisis, then they aggravate it.
Demonstrators are calling for the government to urgently address railroad safety, which they claim had been ignored for years.
The Greek government is also expected to complete reforms “by the autumn of this year” in a number of sectors, including the financial system, the justice system, and primary health care.
A fiscal crisis would force U.S. Congress into unchartered territory. Never in modern history has this legislative body been forced to be austere with its resources. Tax cuts do not work anymore, and you cannot cut taxes when your creditors are running away from your debt. There are only two options: spending cuts, or tax hikes.