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Unnerved by the European Union's fractious and convoluted policy process and by domestic resistance in Germany, markets underestimated the political will of core governments to do whatever it took to stabilize the euro area.
The bonds, which would be jointly funded by all 17 euro zone governments, offer a potential first step toward a larger euro bond project, under which the German, French and other core governments would effectively guarantee the finances of the struggling peripheral nations like Italy and Spain.
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Medicare is a core government service.
She questioned whether herding cats was "a core government task".
"Social services, health care, those seem to be core government functions".
"The cuts required by sequestration will be deeply destructive to national security, domestic investments and core government functions," Zients wrote.
Satisfaction with local services remains high despite councils receiving 40% less core government funding than in 2010.
His health-care plan didn't work, but it was an attempt to create a core government benefit that would be as powerful as Social Security.
It goes without saying that national defense is a core government function, one that has long included America's economic interests, such as protecting the supply of oil.
But as government grants shrink, lottery income is projected to rise, from £128m in 2009-10 to £223m in 2014-15.Cuts for the arts are not unduly harsh, given that core government departments are shrinking by 25% or so.
Jay Rockefeller, the West Virginia Democrat and former intelligence committee chairman, said he "absolutely opposes contracting out this core government function", saying the telecommunications firms would do a worse job of protecting US privacy and national security.
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