But the Greek official realised three months after signing the deal that it was far more complicated than he first thought – a situation exacerbated by the 9/11 attacks' downward impact on global interest rates.
Losses have been halved over the last two years but the continuing recession and its downward impact on advertising shows no sign of going into reverse.
The HomeOwners Alliance (HOA) said the government's stated policy of encouraging home ownership was being undermined by the duty, which it claimed has had "a downward impact" on the market.
Whatever the determinants, Fig. 2 shows that this new wave of immigration looks to have had a noticeable downward impact on the average wages of EU immigrants in the UK around the year of Accession, some of which will undoubtedly reflect the occupations these immigrants move into and the potentially lower reservation wages of these workers.
Inflation will pick up this year as last year's big falls in oil prices cease to have a downward impact on the annual rate, but it will remain well below the government's 2% target.
While our simulations show that population growth does not have a downward impact on the average selection coefficient of a derived allele copy, population bottlenecks had more notably affected deleterious variation.
You can certainly see some downward impact among Democrats in the period coinciding with the health care and the debt ceiling debates, but during these periods, there was a larger downturn in Mr. Obama's numbers among independents.
This study shows that decision making about organ donation by relatives of the deceased rather than the potential donor prior to death may have a downward impact on organ supply.
But the weight of the evidence is that QE3 had a modest but significant downward impact on Treasury yields and a positive effect on demand for riskier assets.
"They've taken away Heiveld's market share and had a strong downward impact on prices," says Noel Oettle, rural programmes manager at the Environmental Monitoring Group (EMG), a local NGO that helped Heiveld set up as a co-operative in 2000.
