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With a growing chorus of voices pronouncing austerity a failure on both sides of the Atlantic, that's an important question. Unless we're agreed that austerity has actually been tried, we're hardly entitled to announce, as Ezra Klein has done,

Voters in Europe have supported anti-austerity candidates in landmark victories. In France's presidential election, François Hollande was elected as the first Socialist to lead France in 17 years. Greek citizens rejected two

but in the numbers? Paul Krugman is thrilled that the voters of France and Greece are fighting back against "austerity." While he has plenty of words to work with, he says not a one about actual government spending figures.

May 08, 2012 Greek Leftists Seek Coalition, Reject EU Austerity Henry Ridgwell The leader of Greek's leftist Syriza party is beginning talks with other parties on forming a coalition government to reject what he calls "barbaric" austerity measures

Joe Stiglitz on Europe: After Austerity, by Joseph Stiglitz, Commentary, Project Syndicate: This year's annual meeting of the International Monetary Fund made clear that Europe and the international community remain

The two major parties are taking the brunt of a German-inspired austerity program to overcome Greece's debt crisis. The country is in deep recession, unemployment has hit 21 percent and GDP has been slashed by 20 percent in just two years.

International Monetary Fund Managing Director Christine Lagarde called on developed nations to push through “gradual” fiscal cuts as voters in France and Greece rejected austerity as the sole fix to Europe's debt crisis. “Austerity versus growth is

beyondbrics, from the Financial Times, brings news and comment from more than 40 emerging economies, headed by China, India, Brazil, Russia, Mexico, Indonesia and South Africa. We cover politics and economics,

By Noah Barkin and Stephen Brown BERLIN, May 7 (Reuters) – Germany is ruling out any substantive shift in its approach to Europe's debt crisis despite a rising chorus of opposition to Berlin's austerity policies that reached a

PARIS — The day after Francois Hollande rode to power in France on a slogan of "change now" the conversation in Europe is already different: Austerity has become a dirty word. In Greece, political parties who reject the

Greek voters look set to set to say a resounding 'no' to the tough austerity imposed by the European Union and the International Monetary Fund. Early estimates from exit polls in Sunday's elections show that only between 31% and 37% of the electorate

John Cassidy writes in the New Yorker: When the campaign turns to questions of economics, what is happening in Europe should provide Obama with plenty of arguments with which to flay his opponents. Republicans say

Europe's doomed experiment with the politics of austerity went down in flames over the weekend as voters across the region veered sharply to the left in savaging incumbents. Elections in six European nations on Sunday

Europe's doomed experiment with the politics of austerity went down in flames over the weekend as voters across the region veered sharply to the left in savaging incumbents. Elections in six European nations on Sunday

John Cassidy writes in the New Yorker: When the campaign turns to questions of economics, what is happening in Europe should provide Obama with plenty of arguments with which to flay his opponents. Republicans say

Topics: Athens ? austerity measures. Governing parties backing EU-mandated austerity in Greece are on course for a major drubbing as hard-hit voters, venting their fury in elections, defected in droves, according to exit polls.

Ryan Avent writes what I've been meaning to write about the backlash against the austerity backlash. It's all about attacking a straw man. Nobody — certainly not me — believes that, say, Spain or even France can simply go

In the scary months that followed the fall of Lehman Brothers, just about all major governments agreed that the sudden collapse of private spending had to be offset, and they turned to expansionary fiscal and monetary

ATHENS (Reuters) – The leader of Greece's Democratic Left on Sunday reiterated his party would not support austerity policies but wanted to keep the country in the euro zone, after early results showed his party could play a key kingmaker role.

Just hours after it became clear that the parties which have ruled Greece for years were largely repudiated for their supports of austerity, Nicolas Sarkozy, who supported austerity measures in France has been voted out of

1300 GMT By James Mackenzie ROME, May 7 (Reuters) – Italian voters will deliver their first verdict on Prime Minister Mario Monti on Monday in local elections that are expected to underscore a growing resistance to austerity policies across Europe.

1300 GMT By James Mackenzie ROME, May 7 (Reuters) – Italian voters will deliver their first verdict on Prime Minister Mario Monti on Monday in local elections that are expected to underscore a growing resistance to austerity policies across Europe.

The two main pro-austerity parties suffered major losses in elections Sunday, May 6, exit polls showed, throwing into doubt the eurozone country's commitment to meeting the tough terms of its two bailouts.

The two main pro-austerity parties suffered major losses in elections Sunday, May 6, exit polls showed, throwing into doubt the eurozone country's commitment to meeting the tough terms of its two bailouts.

Republicans have made it official: “The wealthy” must be called “the job creators” in any debate about tax policy. Democrats are playing their own word games: Centrists insist the 2012 campaign shouldn't focus on “income