Then, in 2005, France and Germany both exceeded the euro area's debt and deficit constraints, contained in the E.U.'s Security and Growth pact, without suffering political penalties or anything else resembling serious inconvenience.
For a fresh start Europe needs to build integration with a positive vision from the ground up instead of only through the back door of a common currency rooted in the negative constraint of rigid debt and a deficit constraints.
The income generated by outpatient chemotherapy sessions representing an important source of revenue for hospitals, especially as they are facing budgetary deficits and constraints in an economic environment that is becoming increasingly hostile [ 20].
Still, regardless of who becomes finance minister, analysts say Mr. Singh's government will have difficulty following the central bank's prescription of reducing subsidies, the fiscal deficit and supply constraints, changes this government has struggled to make since being re-elected three years ago.
Clearly, the deficit and fiscal constraints are not the real issue here.
In a classic paper, Sebastian Edwards of UCLA and the late Rudiger Dornbusch of MIT define economic populism as "an approach to economics that emphasizes growth and income redistribution and deemphasizes the risks of inflation and deficit finance, external constraints and the reaction of economic agents to aggressive nonmarket policies".
Confronted with the deficits and the constraints of the city's brush with bankruptcy in 1975, he held down spending, subdued the municipal unions, restored the city's creditworthiness, revived a moribund capital budget, began work on long-neglected bridges and streets, cut antipoverty programs and tried to reduce the friction between Manhattan and the more tradition-minded other boroughs.
Model results compared favorably with independent observations from a 400 m flux tower and a process-based ecosystem model (BIOME-BGC), but only after removing vapor pressure deficit as a constraint on photosynthesis from the MODIS global algorithm.
There will have to be more resources put into public safety and, in the case of France, it looks very much as though the European constraints on deficit financing will be eased.
A new analysis by Goldman Sachs, which is not under these constraints, predicts deficits well over $100 billion each year for the rest of the decade.
"The budget deficit remains a key constraint to growth and stability in the economy," said Desmond Supple, a director at Barclays Capital in Singapore.
