Thatwould be more complicated because the regime imposed by the ECB would leave no room for fiscal stimulus and the debt problem could not be resolved without growth.

长期解决方案将更为复杂，因为欧洲央行确立的机制几乎不会给财政刺激留下空间，而离开了经济增长，债务问题也不可能得到解决。

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Instead, having tried the rules and as many, including this newspaper, long predicted found them wanting, governments should now devise a new regime for fiscal policies.

ECONOMIST: Europe's fiscal follies

The fiscal regime in Ireland for oil and gas exploration and exploitation is probably one of the more attractive fiscal regimes in the world.

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Deutsche is making the most of a byzantine fiscal regime by structuring its new subsidiaries as tax-efficient limited partnerships registered in Eschborn, near Frankfurt.

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