Decaying political support for budget cuts in Europe is threatening global financial stability and could undermine a recovery that is already weakening, the International Monetary Fund warned in a trio of reports Friday.
Nations throughout the continent have put in place government spending plans that reduce record high deficits and have made other changes to invigorate their economies. But growth has been slow to return, and the cuts to social programs and public payrolls are proving increasingly unpopular — and politically difficult to sustain.
Nations throughout the continent have put in place government spending plans that reduce record high deficits and have made other changes to invigorate their economies. But growth has been slow to return, and the cuts to social programs and public payrolls are proving increasingly unpopular — and politically difficult to sustain.
