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The Russian financial crisis of 1998 knocked Moldova's feeble agrarian economy flat on its back.
That loan was the first domino in a sequence that ended with the whole Irish economy flat on its face.
Running an economy "flat out," however, is likely to cause a short-run balance of payments crisis and lead to devaluation of currency.
Now, after three successive quarters of negative growth, with the economy flat on its back, ministers are starting to "reverse ferret".
American publishers were assaulted on a number of fronts in 2009, including by the down-tending economy, flat or sagging book sales, the distractions of the Internet, and the now seemingly ever-present ascent of the electronic book.
"We've been told by the county that there will be no cuts, but no cuts means flat funding, and in this economy, flat funding means a cut," Ms. Speranza said.
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With the economy flat-lining, this is untenable.
The most recent quarterly figures showed the economy flat-lining, with growth at 0.1 percent.
An economy flat-lining on the bottom is what scares markets.
Still, with the Conservative-Liberal Democrat coalition giving priority to budget cuts and the economy flat-lining, the powerful Treasury department appears unenthusiastic.
With unemployment at 10 per cent and rising and the economy flat-lining, Mr Macron certainly has his work cut out.
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