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Deny, deflect, detonate Reprints Related items Bagehot: Deny, deflect, detonateSep 4th 2008 Britain's economy: How bad is it?Sep 4th 2008 The City of London: Defying augurySep 4th 2008That worry would limit the scope for fiscal stimulus too.
Mr Velloso is worried about possible further weakness in the exchange rate (the real depreciated by 17% against the dollar in the last three months of 2008), and also by the ability of Brazilian companies to roll over their debt.Brazil's scope for fiscal stimulus is limited.
But, again, one should not exaggerate the scope for fiscal laxity.
There is much greater scope for fiscal stimulus to boost growth, and much smaller scope for monetary stimulus.
Those outside the euro zone are trying hard to meet its deficit targets, limiting any scope for fiscal policy.
Past budget surpluses have left it scope for fiscal stimulus this year's budget deficit will reach about 5.5% of GDP.
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But, despite little scope for 2016 involvement, the selectors have gone for Perdue's experience in London and have been convinced by the clear progress she has made of late, with impressive performances at the World, European and also Welsh Championships.
Scope for summer work will be limited, too, by the much shorter holidays that result from teaching over three full terms, rather than the standard two, although both colleges insist there will be time for students to complete law firm vacation schemes.
The combination of fiscal expansion and government-bond purchases by the BOJ should work better.The OECD predicts that public-sector debt will approach 200% of GDP in 2010, so the scope for further fiscal stimulus will be limited.
"There is very little, if no scope for the fiscal policy to support Poland's growth," Mr. Devictor said by e-mail.
There's always scope for a Christmas cardie, though, and this jolly red and white one by Marc Jacobs has the advantage of being from his spring range, so when the Santa vibe wears off, you'll still be oh-so-current.
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