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Politicians, economists and other experts speak gravely about the need for austerity measures on a European and global level. But when it comes to governing their own country, leaders try to avoid using the A-word. Even if they actually do implement some kind of cuts in government spending, they all […]

The events recently witnessed in Egypt have clearly stirred a huge wave of controversy on the international front. International political analysts and politicians are now divided in their views; while some perceive the ousting of president Morsi as a great achievement, others view it as a “military coup” and a […]

  Whenever I switch on my television or flip through a current affairs magazine, news of the devaluation of the rupee is the inevitable main topic, alongside news of the euro crisis. The euro crisis has shaken us and has made us wonder that if a powerful and unified economy […]

  Russia’s steady growth in GDP and its 5% unemployment rate could make countries like Greece and Spain green with envy. The Russian economy surged ahead from the mid-2000s, seemingly immune to the shocks of the 2008 economic crisis. Foreign corporations kept pumping money into a country whose high levels […]

Abstract: Every time I hear the word “austerity” very concrete memories come to mind. I think of Nicaragua during the Sandinista Revolution of the 80’s, when the government took severe austerity measures in order to tackle the strict economic embargo that the US imposed on the Central American country. These […]