Exact(53)
It's important to emphasize the conditionality here.
And so it makes emotional sense to proceed as if he's there, to dare the conditionality".
Even the conditionality of the OMTs can be seen as subjugating monetary to fiscal policy.
Moreover, the conditionality and close monitoring typically associated with the multilateral institutions make them less attractive sources of financing.
"There is a point at which the conditionality they impose is so stretched that the other countries are not going to sign up for it anymore".
Such an austerity program is the "conditionality" that the E.C.B. had to assert would exist in order to justify the large bailouts they are promising.
Similar(7)
Indeed the only conditionality that has actually worked in Europe is I.M.F.
Draghi stressed the "strict conditionality" of the program in a speech in Frankfurt yesterday as he seeks to assuage German concerns.
They know now, just as they did in the old conditionality days, that if they want aid and debt relief, they have to sign up to reducing inflation, cutting state spending and privatising, among a raft of other policies.
There will be a "troika presence", with Spain forced to cede significant regulatory and supervisory control over its banking sector Politically speaking, the policy conditionality in the banking sector is a severe blow for the Rajoy government as it comes just as further austerity measures have been announced, including a politically perilous hike in VAT which Mr Rajoy had previously opposed.
The perception that the IMF conditionality will lead to unnecessary structural reforms should be replaced by conveying the role of IMF financing in stabilizing markets, inducing other institutions to finance the Egyptian government (such as the European Union), and providing legitimacy for internal economic policies.
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