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If he does not get the new austerity measures passed, the 17-nation eurozone would come under enormous pressure to find a new solution for the debt crisis.
ATHENS: One vote down, a tougher one ahead: The Greek government survived a confidence vote Wednesday but has barely a week to get new austerity measures passed by parliament to avoid a potential default.
Fears of a double-dip recession after the government's austerity measures also saw the steepest fall in confidence in the sector in the 14-year history of the Markit/CIPS survey.
Even as Mukherjee sought to downplay the controversy over austerity measures attributing it to " some misunderstanding", the Congress spokesperson gave him an enthusiastic backing saying partymen were ready to travel even in the cargo hold.
The austerity measures are needed to tide over these recessionary times, Mukherjee said.
provides about half the country's budget, $1 million a day--and argued that the austerity measures would stabilize the economy and attract foreign investment.
Eurozone leaders reached an agreement Monday on a third bailout package to Greece, estimated at $95 billion over the next three years, which includes the obligations of the Greek parliament to approve unpopular austerity measures -- including pension reforms and VAT increases -- by the end of Wednesday.
The euro retreated last night compared to the dollar following partial announcement of the results of the referendum results in Greece, which showed the rejection of the majority of the Greek people of the new austerity measures listed in the new creditors' plan.
Summary: TEHRAN (FNA)- Tens of thousands of Portuguese protesters demonstrated against the troika of international lenders and the government's austerity measures in 18 cities across the country.
May 24, 2013 (JUBA) - South Sudan's finance ministry said on Friday that the administration will continue to impose austerity measures even if the country generates enough funds to support the budget from the resumption of oil production.
The statement from EC gives confidence to the market that the country is back on track and that severe austerity measures are helping the country to cut its deficit.
In a G7 meet that is to be hosted by the UK, the US could ask Germany to ease its austerity measures.