Ad
The EU is way off-track to meet a 2015 goal on development aid (Photo: Notat)

Europe entering age of 'aid austerity'

The effects of the financial crisis in the EU has resulted in many of the Union's richest member states sharply cutting back aid to developing countries.

Figures released Wednesday (4 April) by the OECD, a Paris-based thinktank, show that debt-ridden Greece - the recipient of two international bailouts - slashed its foreign aid by 39.3 percent in 2011.

Spain, now in the midst of an unpredicted recession and under EU pressure to sharply reduce its budget deficit, made a 32.7 percen...

Get EU news that matters

Back our independent journalism by becoming a supporting member

Already a member? Login here
The EU is way off-track to meet a 2015 goal on development aid (Photo: Notat)

Tags

Ad

Related articles

Ad
Ad