Germans Spending Less This Christmas: Retail Association

Online and offline Christmas sales in Germany have slowed amid rising economic uncertainty, the managing director of the German Retail Association (HDE), Stefan Genth, told Frankfurter Allgemeine this week.

UK: George Osborne warns of tax hikes in case of Brexit

A vote to leave the European Union in a referendum next week would trigger tax hikes and spending cuts, Britain's finance minister warned, as stock markets sank on the increasingly likely prospect of Brexit.

Major demonstration staged in Brussels against Belgian gov't spending cuts

Tens of thousands of people joined a demonstration through the streets of Brussels on Wednesday, in a protest against Belgian government spending cuts.

Ukrainian Crisis Prompts Europe to Boost Military Spending (Report)

The political and military crisis in Ukraine prompted European countries to increase their military spending, an arms watchdog said Monday.

Ukraine to spend 5.2% of GDP on army (Finance Minister)

Ukraine plans to use 5.2% of its GDP on army spending, Ukrainian Finance Minister Natalie Jaresko said on Friday.

Merkel refuses to increase public spending

German Chancellor Angela Merkel said on Tuesday her government would stick to its budget target and would not increase government spending or raise new debt for economic stimulation.

Addressing a meeting of German employers association in Berlin, Merkel said German economy was stable, but faced risks from geopolitical tensions abroad.

Investment was needed to boost growth, she said, but her government would not spend more than its current plans, nor would new debt be raised. Instead, her government would encourage private investment by lifting burdens for the business.