The threat in the near future is of a service that, without a significant injection of extra cash, will run out of money and see deficits becoming common, care standards slipping or both.
Greek stocks will be in focus after Moody's cut Greece's debt to A2 from A1 over soaring deficits, becoming the third major rating agency to downgrade the highly-indebted country's rating this month.
Facing its first budget deficit since becoming a nonprofit organization in 1997, Beardsley recently let go three employees, more than 10percentt of its 28-person staff.
But having overshot PPP, the dollar may well now undershoot, because America's huge current-account deficit is becoming harder to finance.
One explanation for the disappointing British record in narrowing its deficit and becoming more competitive is a surprising decline in productivity since the start of the crisis.
McDonnell insisted at a Guardian fringe meeting on Tuesday that he had succeeded where Ed Balls failed in showing that Labour was serious about clearing the deficit and becoming Britain's main anti-austerity party.
While discussion of contagion may seem very 2008, the problems with Greece, which faces a huge fiscal deficit, are becoming tougher for the euro-zone authorities to leave uninsured.
In a vote reflecting the apprehension of many lawmakers that the $478 billion budget deficit is becoming a major election-year concern for voters, the House split 209 to 209 on Tuesday on a measure urging members negotiating a budget deal with the Senate to accept Senate tax-cut restrictions.
While the administration had warned that rolling back fiscal stimulus programs too quickly could endanger the fragile recovery, the pressure on European nations to slash their deficits was becoming overwhelming.
In other words, the Hellenization of our economic discourse, in which we're all just a year or two of deficits from becoming another Greece, is completely off base.
