Results for: Austerity

Thousands of students and professors took to the streets of Buenos Aires and other Argentine cities on Tuesday to protest austerity measures proposed by President Javier Milei, who is attempting to reach a zero deficit by cutting spending across the country. The University of Buenos Aires, one of the best in Latin America, has received just 8.9% of its total budget from the state since the fiscal year began in July, leading to disruptions in teaching and basic services. President Milei describes universities as bastions of socialism where students are indoctrinated, but protesters argue that their right to education is being taken away. Critics of the university system say the budget cuts are also an attempt to raise efficiency and increase fiscal transparency, but the government’s $24.5 million transfer to public universities is seen as insufficient to cover their needs.

Argentina’s libertarian President Javier Milei faces backlash over his austerity measures, which have led to a severe budget crisis at the University of Buenos Aires (UBA). Despite the president’s claims of progress, the university has received only 8.9% of its budget, leading to power outages, frozen elevators, and suspended air conditioning. Students and professors have protested the cuts, which they say threaten the quality of education and the future of the institution.

Argentine President Javier Milei is implementing drastic spending cuts and austerity measures to reduce the country’s fiscal deficit. Despite initial successes, concerns remain about the impact on economic activity and social welfare. Investors are optimistic, but analysts caution that the effects of the austerity may not be sustainable.

The European Parliament has approved new EU fiscal rules, a move met with both support and opposition. The revised rules aim to restore fiscal responsibility after the pandemic, but some fear they may hinder vital green investment. Despite a broad consensus on the need for clearer fiscal rules, concerns remain about their potential impact on public funding and social goals.