In light of that, other European officials said a renewed focus on growth — by slowing budget cuts, changing deficit targets or taking other measures — might be appropriate.
"We're seeing growth slow, budget deficits rise, in the case of Egypt, some foreign exchange reserves being lost," said David Lipton, a senior director for international economic affairs at the National Security Council.
Few firms are bullish enough to expand, even if banks are ready to back them.Before the stress tests, banks were seen as an obstacle to growth, giving ammunition to policymakers reluctant to boost demand, for example through a bond-buying scheme at the ECB or by slowing budget cuts.
That would happen even if the economy slowed, the budget office estimates.
If interest rates rose because foreign investors lost their appetite for risk, or if the economy slowed, the budget deficit would widen.It already looms dangerously large.
Alessandra Stanley (NYT) RUSSIA: DEBT PAYMENTS IN JEOPARDY Russia said it would fail to meet $3 billion in scheduled debt payments next year if growth slowed and budget revenues fell.
Mr. Obama could also ultimately emerge as a kind of president who cried wolf if Americans just shrug at the slow-rolling budget cuts and think the crisis atmosphere that he created was more hype than reality.
If the recovery is weak to begin with, and then slowed by budget cuts, short-term interest rates in the rich world could be unusually low for several years.At first sight, this is a good idea.
The ICC is investigating the role of Ouattara's supporters in the post-election violence, but the work has been slowed by budget constraints and a lack of cooperation from the administration.
The Navy has greatly expanded these promotional excursions since the cold war ended, often taking members of Congress, journalists and business people to sea to promote submarine capabilities and try to slow the budget cuts that have depleted the number of submarines.
