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Brazil and Mexico both have deficits of less than 2% of GDP, a far cry from the fiscal laxness of a few years ago.The news is not all good: India's budget deficit is still large.
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Though Marie-Antoinette was guiltless, the scandal confirmed the belief of contemporaries in her moral laxness and frivolity.
Fiscal pressure is mounting.
Nor is a fiscal union.
Under Lula, Brazil's central bank was granted de facto independence over monetary policy, which means high interest rates to counter the government's fiscal laxness one of the root causes of Brazil's over-valued currency.
By Halldor Laxness.
"It was a fight against Russian laxness.
But age does not necessitate laxness.
Fiscal slope?
Fiscal policy!
fiscal orgy.
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