European countries feel the pain as cuts keep coming

ATHENS -- Investors speculate that Europe might not have a dynamic enough future to foot the bill, and it has left politicians from Athens to Madrid, and from London to Berlin, scrambling for a response.

Developed nations have overpromised, the IMF said, particularly on pension and health benefits for an aging population. The choice is to cut spending and raise taxes, or find ways to boost growth. - European nations feel the pain as cuts keep coming