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BRUSSELS — Faced with the collapse of the government of debt-troubled Portugal, European leaders on Friday called on competing political parties in Lisbon to commit to tough financial targets, while Spain sought to protect itself from contagion by announcing new economic policies.
These are: abolition of wage indexation systems, agreement on mutual recognition of education qualifications, creation of a common base for assessing corporate tax, adjustment of the pension systems, establishment of a national crisis management regime for banks and new legal measures to force countries to commit to tough fiscal policies through a "debt alert mechanism".
KRUEN, Germany, June 8 (Reuters) - German Chancellor Angela Merkel urged Group of Seven (G7) leaders to commit to tough goals to cut greenhouse gases on the final day of their summit in Bavaria on Monday, at which they also discussed the threat from Islamic militants.
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Small developing countries that linked up with the EU in a new coalition last year say the bloc must commit to tougher emission cuts and more finance.
Moreover, by committing to tough spending totals, Mr Brown redefines the tax-and-spend argument between the main parties with consequences that are hard to predict.
But from a financial markets perspective, there is no less firepower in his suggestion that his bank might buy the bonds of countries like Spain and Italy if they committed to tough measures to reduce deficits and revamp their economies.
"ICE is committed to tough law enforcement," agency Director John Morton said.
It cannot be understood except in the context of what Tim Bale, in a new book on the Miliband Labour party, describes as the rightwing press's "determination to do whatever it took to prevent the election of a government committed to tougher press regulation".
And yes, the Sun is committed to tougher rules that safeguard the public.
Under it, companies commit to having tough, independent inspections of the factories they use in Bangladesh and to help finance renovations for fire and building safety, like building fire escapes on factories lacking them.
Many countries are reluctant to commit themselves to tough emission limits, fearing that doing so will hurt economic growth.
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