Exact(6)
"You have public sector job cuts, income going down, weak consumption.
The idea was to break the "doom loop" through which weak banks were dragging down weak governments and vice versa.
On Friday, European heads of state said they would like to reach an agreement by June on centrally administered deposit insurance and on assisting or shutting down weak banks.
He and other experts also worry that, by relying on weak banks to carry out the administration's or Congress's policies, officials are not biting the bullet and shutting down weak banks that may be insolvent.
Policy makers need to move quickly to the next step: giving the E.C.B. or another central agency the power to create a central authority that insures public deposits across the euro zone and the ability to wind down weak banks or directly recapitalize them.
The move is a good first step toward establishing a banking union that could help stabilize the troubled single-currency bloc — but only if it is quickly followed by other measures, like deposit insurance, a system to recapitalize or shut down weak banks, and, eventually, the establishment of a fiscal and political union.
Similar(53)
Coleman took satisfaction from the fact that Wales, who have struggled to break down weaker opposition in the past, made light work of Moldova.
Encouragingly, from a long-term perspective, 'Zac Japan' have always saved their most effective performances for higher-level opponents; even if they do sometimes struggle to break down weaker continental teams content to park the bus.
What was before a powerful, fire-infused axe that could strike down weaker enemies in a single blow, is now a run-of-the-mill version that necessitates a couple of hits to fell the lowliest of hollows.
Alternatively, multiple isozymes may contribute to the phenotype, making a single knock-down weaker.
Consumption has been dragged down by weak real wage growth, investment has been held back by tight credit and exporters have struggled with weak demand in the euro zone.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com