Serbian Prime Minister-Elect Aleksandar Vucic vowed to cut spending and avoid debt restructuring before a vote on his government as he begins work on an international aid accord and European Union membership.
Britain’s unemployment rate dropped to a five-year low in February, underscoring the strength of the economic recovery and raising the prospect of a debate among Bank of England officials about whether to raise interest rates.
A five-year squeeze on living standards is coming to an end, providing a boost for Prime Minister David Cameron as he battles opposition claims that ordinary Britons are facing a “cost of living crisis.”
Liberal Democrat leader Nick Clegg attacked the Labour opposition’s “paucity of credibility on the economy” before the release of new U.K. data which may show a five-year squeeze on living standards coming to an end.
U.K. Chancellor of the Exchequer George Osborne renewed his commitment to fiscal austerity by rebutting warnings that governments must spend more if their economies are to avoid a period of “secular stagnation.”