At a time when Spain, Italy, Greece and Portugal are imposing deficit-cutting austerity plans on their hard-pressed citizens, these revelations of widespread political corruption are stoking bitter resentment, destabilizing governments and undermining the credibility of the political class as a whole.
The impact of the imposed deficit on trees depends mainly on its degree of severity (i.e. lowering of stem water potential above the threshold of −1.3 MPa for citrus orchards).
The Berlin-inspired fiscal discipline treaty, now being ratified by European Union members, would impose deficit limits of 3 percent of gross domestic product and gradual progress to reducing overall debt to 60 percent of G.D.P.
More broadly, the European countries that have imposed deficit-reduction measures in recent years, including Britain, Italy and Greece, have seen their economies grow much more slowly than the United States'.
And though the conversation has rightly and finally shifted to the need to grow the economy, much of it is still dominated by hysterical and destructive demands to impose deficit-cutting austerity even before the economy gets back on its feet (which would only increase, not cut, the deficit).
East — and how imposing that deficit may be.
His suffocating 3-hit shutout in Game Two imposed a deficit from which the Athletics never recovered, & he finished them off, this time on 4 hits, in the 5-2 finale.
These cut-price loans gave governments little incentive to reform; and while in theory the eurozone's stability and growth pact was meant to impose strict deficit limits to prevent countries going astray, the targets were repeatedly missed, including by Germany and France, and no action was taken.
But harsh austerity measures imposed on deficit countries without corresponding easing from surplus countries, especially Germany, will only bring about the outcome Professor Sinn fears.
