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Even among the details of a largely cautionary report, I.M.F. officials saw some signs of hope, largely because of the forceful fiscal steps and other measures taken by the United States, some European governments, and also by China.
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Tempers were inflamed further when Bulgaria's finance minister, Simeon Djankov, the architect of painful fiscal probity, stepped down on Monday.
We are going to solve the fiscal problems in steps.
In a signal of how the political arguments might line up, William R. Harker, senior vice president of Sears Holdings, which owns Sears and Kmart, said in an interview, "At a time where our state and municipal governments are going through really a fiscal crisis, taking steps to collect taxes that are already on the books is to me the fiscally responsible thing to do".
She said it would still take long before Europe has a common fiscal policy, but steps such as the fiscal compact were going in that direction.
And with governors pressing the administration to allow them to cut Medicaid rolls to ease their fiscal distress — a step Mr. Obama does not want to take — the president is trying to look flexible in other ways.
"It's time for fiscal policy to step up to the plate and aid the transition".
They argue that the president's 2013 budget is a step toward fiscal stability that will also pave the way for bigger steps in the years ahead.
"What we really need in terms of fiscal policy is one step to the left and then multiple steps to the right.
Mr Colom admits he is unlikely to secure fiscal reform before he steps down in January.
"It is becoming increasingly clear that there will have to be major steps towards fiscal union or the euro zone will begin to disintegrate".
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CEO of Professional Science Editing for Scientists @ prosciediting.com