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The so-called fiscal break-even point (the oil price needed to balance exporters' budgets) is currently over $80 for Saudi Arabia and $110 for Algeria, which relies on energy exports for 70% of its government revenue.Both governments could simply cut spending, though that involves political risks.
Yes he's putting on the fiscal breaks, but not like Costello did in 1996 to 1999, nor even like Keating did after the "banana republic" crisis in the late 1980s.
Damaging "fiscal wars" break out from time to time between states, with each undercutting the others' tax rates in the hope of attracting footloose capital.
Nevertheless, if Japan does not deal with its monetary, financial and structural problems first, it is hard to imagine any fiscal push breaking the economy free of its deflationary trap.
She does not shy away from quarrels: in February, when the commission had a blazing row over France's fiscal rule-breaking, Ms Vestager was one of the fiercest advocates of sanctions.She lost that argument.
By contrast, yields on short-term Greek debt fell at auction on Tuesday for the first time since the country's fiscal crisis broke, as a sale of three-month bonds drew strong demand, notably from abroad.
In a shaky Commons performance the shadow chancellor, Ed Balls, said: "Growth down, borrowing revised up and the fiscal rules broken: on every target they have set themselves, they are failing, failing, failing.
He added: "Not snakes and spiders in the jungle, but their fiscal rule broken, economic credibility in tatters and exposed now as incompetent and unfair".
Compared to the damage Cuomo to de Blasio's ambitious economic agenda in his first term, not to mention the reputation he has built as a fiscal pragmatist breaks with economic liberals, these seem like minor concessions and are, of course, dependent on the temperament of the state legislature as well.
France wants to cut taxes, even though the European Commission, which monitors countries' compliance, thinks it may break fiscal limits in 2003.
American efforts, he writes, fail to persuade the German government "to cross a psychological threshold and break fiscal discipline to spend their way out of recession".
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