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Fiscal policies that stabilize debt may not provide the fiscal backing necessary for monetary policy to successfully target inflation.
It highlighted the work "accomplished without fanfare, such as academic reforms, enhanced fiscal responsibility and organizational transparency".
There is huge variation in demand for greater tax and spending powers across the UK, from Scotland where a majority of voters favour enhanced fiscal autonomy, to most of the English regions, where there is little appetite for any change.
Mr Sims says the ECB needs to be reassured its own balance-sheet has sound fiscal backing.
"We are going to bring fiscal sanity back to this great nation," he said.
The fiscal compact, backed up by a well functioning fiscal authority would practically eliminate the risk of default.
Go over and read Simon Johnson and James Kwak's four-step strategy for putting America's fiscal house back in order.
He said he would seek to institute changes at the committee to bring "fiscal sanity back to our budgeting process".
Somehow, the fiscal problems back in Washington came up.
This November presents Newport Beach taxpayers with a chance to return fiscal restraint back to city government.
Cutting back fiscal support will weigh on a recovery that has started quite slowly.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com