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In another signal that the global battle against AIDS is falling apart for lack of money, the Global Fund to Fight AIDS, Tuberculosis and Malaria failed on Tuesday to reach even its lowest "austerity level" fund-raising target of $13 billion — the amount it had said it needed just to keep putting patients on treatment at current rates.
In a highly symbolic move, the minimum wage and unemployment benefit will return to their pre-austerity levels.
Around a quarter of the workforce is officially unemployed — a twofold increase from pre-austerity levels — and for those under twenty-four years old, unemployment rate hovers around half.
"The falling fertility rate is a natural consequence of harsh austerity and record levels of unemployment, especially among the young," said Christina Papanikolaou, general secretary at the health ministry.
Its economy ravaged by six years of internationally mandated austerity and record levels of unemployment, Greece's coping strategies are markedly strained.
The economy still faces the problems of heavily indebted consumers, moribund home sales, and fiscal austerity at all levels of government.
More than four years into debt-stricken Greece's prolonged economic crisis, many described the step as the height of humiliation for a nation already hit by excoriating austerity and record levels of poverty and unemployment.
To his dismay, there are plenty of examples where people seem set on ignoring the kind of evidence he stacks up; in passing he asks: "How can anyone believe austerity with high levels of unemployment is intelligent policy for the UK?" He laughingly comments that colleagues say his thinking hasn't evolved much, but he dismisses the idea of being frustrated.
BEHIND THE NEWS Some of the falloff was traceable to transient factors like bad weather and higher fuel prices, but economists said it also resulted from the waning of federal stimulus programs and the political push for austerity at all levels of government.
How can we do this, or even something short of it, especially in the coming environment of budget austerity, at all levels of government?
Greece would get leeway to implement measures to counteract austerity; the high levels of government surplus (4percentt) demanded by the 2011 bailout were waived.
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