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The mobilization of international pressure on Indonesia, and the prospect of a breakthrough in its long delay in undertaking austerity measures, raised hopes after a week of panic had caused the currency to tumble steeply.
Not only has Spain has begun to restructure its banking sector, but it is already undertaking austerity measures.
Instead of following the profligate policies of Bush and initially Obama Obamaa eventually has brought the U.S. deficit down somewhat), Cameron has followed the example of U.S. presidents Warren Harding, Calvin Coolidge, Dwight Eisenhower, and Bill Clinton, undertaking austerity in the wake of a recession to help ensure a period of long-term prosperity.
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Already the Baltic governments have undertaken austerity measures that could not be seriously contemplated in old Europe.
The government of Mr. Sánchez de Lozada has been so battered by opponents that it lacks the political capital to undertake austerity measures or make unpopular economic decisions.
Lisbon's request for aid also puts additional pressure on other ailing European economies, in particular Spain, which has undertaken austerity measures, a pension overhaul and a cleanup of its banking sector to stay out of danger.
For many years, Baba asked his followers to undertake austerities on 10 July, the anniversary of the day his silence began, such as keeping silence, fasting and praying.
He could have tried to stick to his original plan to eliminate the current deficit by 2015 by undertaking additional austerity, but he chose not to.
Countries like Britain, Greece, and Spain are undertaking drastic austerity measures to rescue themselves from economic collapse.
Enthusiastic for years about adopting the euro, Latvia had undertaken painful austerity measures.
The verdict comes at a time when banker bonuses are a contentious political topic in Britain as its government undertakes an austerity program.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com