Global jitters as Britain, Germany announce severe spending cuts

Monday, June 7, 2010 - 21:40 in Mathematics & Economics

The plans reflect concern about the consequences of crises in Greece, Spain and other weaker European economies. They also amount to a rejection of U.S. warnings that cutbacks now could imperil global recovery. Europe's debt crisis sent more shockwaves around the world Monday as Britain's new prime minister announced drastic cutbacks in government spending and Germany pressed ahead with its own austerity plans...

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