Brazil's Senate approved a 20-year freeze on government spending billed as the centerpiece of austerity reforms aimed at restoring economic health to the troubled Latin American giant.
Portugal's center-right ruling coalition that enforced harsh austerity for the past four years, including spending cuts and tax hikes, is heading to their victory on Sunday despite the main opposition Socialist Party promising a less aggressive alternative, according to an exit poll.
Greece needs more significant reforms aiming for job creation and economic growth, no matter what might be the outcome of the country's Sunday referendum on whether to accept more austerity in exchange for international aid.
The Lisbon subway closed on Thursday for the second time this month as striking workers protest against the sale of the company and the deterioration of working conditions and services.
French Economy Minister Arnaud Montebourg, a staunch critic of austerity policy, threatened to resign on Monday and refused to join a new government.
Subway stations in Portugal's capital Lisbon were closed on Thursday as metro workers in the city started a 24-hour strike against the government's new austerity measures enshrined in the 2014 state budget.
Thousands of Portuguese held a rally Saturday in capital Lisbon against government's tough austerity measures in return for the bailout from the international lenders for the debt-stricken country.
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