Austerity is on everyone's mind as one European government after another introduces spending cuts to try to get deficits under control and shore up the beleaguered euro currency.
Austerity is the order of the day as parliaments across Europe debate how to reduce deficits and where to cut. And, that includes Europe's economic giant.
The government of German Chancellor Angela Merkel has agreed on budget cuts to bring Germany's deficit within European Union limits of three percent of GDP.
Speaking at a news conference in Berlin recently, Chancellor Merkel explained why it was necessary.
These are difficult times, she said, "We cannot afford everything we wish for if we want to create a future".
The aim is to save nearly $100 billion by 2014. It is being called Germany's biggest austerity plan since World War II.
