Austerity
Successive rounds of austerity measures, demanded by Greece's international creditors have failed to restore growth and have provoked clashes between protesters and police.
http://www.bbc.co.uk/news/world-europe-17092964
Noun: difficult economic conditions created by government measures to reduce a budget deficit, esp. by reducing public expenditure
Governments around the globe are creating Austerity measures, so they don't end up like Greece.
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