Austerity

Austerity
A state of reduced spending and increased frugality in the financial sector. Austerity measures generally refer to the measures taken by governments to reduce expenditures in an attempt to shrink their growing budget deficits.

Austerity measures are generally unpopular because they tend to lower the quantity and quality of services and benefits provided by the government. Beginning in 2009, several nations were forced to embark on unprecedented austerity measures. These measures were necessitated by budget deficits that soared to record levels because of actions these countries took to stimulate their economies following the massive credit crisis and global recession of 2008.


Investment dictionary. . 2012.

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  • austerity — aus‧ter‧i‧ty [ɔːˈsterti, ɒ ǁ ɒː ] noun [uncountable] ECONOMICS bad economic conditions in which people do not have much money to spend: • her childhood memories of war time austerity * * * austerity UK US /ɒsˈterəti/ noun [U] ► ECONOMICS,… …   Financial and business terms

  • Austerity — Aus*ter i*ty, n.; pl. {Austerities}. [F. aust[ e]rit[ e], L. austerias, fr. austerus. See {Austere}.] 1. Sourness and harshness to the taste. [Obs.] Horsley. [1913 Webster] 2. Severity of manners or life; extreme rigor or strictness; harsh… …   The Collaborative International Dictionary of English

  • austerity — [n1] severity acerbity, asperity, astringence, coldness, exactingness, exactness, formality, formalness, gravity, grimness, hardness, harshness, inclemency, inflexibility, obduracy, rigidity, rigor, seriousness, solemnity, sternness, stiffness,… …   New thesaurus

  • austerity — I noun abstemiousness, austeritas, bare subsistence, chariness, closed purse, economicalness, economy, frugality, frugalness, good management, husbandry, lack of luxury, meagerness, scantiness, scrimping, self denial, self restraint, severe… …   Law dictionary

  • austerity — /ɔ: steriti/, it. /au stɛriti/ s. ingl. (propr. austerità ) usato in ital. al femm. (econ., polit.) [assol., regime di restrizione delle spese statali e dei consumi privati: un periodo di a. ] ▶◀ austerità, economia, risparmio. ◀▶ consumismo,… …   Enciclopedia Italiana

  • austerity — (n.) mid 14c., sternness, harshness, from O.Fr. austerite harshness, cruelty (14c.) and directly from L.L. austeritatem (nom. austeritas), from austerus (see AUSTERE (Cf. austere)). Of severe self discipline, from 1580s; hence severe simplicity… …   Etymology dictionary

  • austerity — /ausˈtɛriti, ingl. Hːˈstɛrɪtɪ/ [vc. ingl., dal fr. austérité, dal lat. austeritāte(m) «austerità»] s. f. inv. austerità, restrizione …   Sinonimi e Contrari. Terza edizione

  • austerity — [ô ster′ə tē] n. pl. austerities 1. the quality or condition of being austere 2. an austere act, habit, practice, or manner 3. tightened economy, as because of shortages of consumer goods …   English World dictionary

  • Austerity — In economics, austerity is when a national government reduces its spending in order to pay back creditors. Austerity is usually required when a government s fiscal deficit spending is felt to be unsustainable. Development projects, welfare… …   Wikipedia

  • austerity — aus|ter|i|ty [o:ˈsterıti, ɔ US o: ] n plural austerities 1.) [C usually plural, U] bad economic conditions in which people do not have much money to spend ▪ a time of great austerity after the war ▪ the austerities of post communist Eastern… …   Dictionary of contemporary English

  • austerity — [[t]ɔːste̱rɪti[/t]] austerities 1) N UNCOUNT: also N in pl, oft N n Austerity is a situation in which people s living standards are reduced because of economic difficulties. ...an economic austerity programme. ...the years of austerity which… …   English dictionary

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