Instead, to maintain lifetime employment, companies held down pay and benefits for existing employees and stopped hiring new graduates.
Germany has a cheaper-labour hinterland right on its doorstep in central Europe that has helped companies raise efficiency and hold down pay.
Philippe Lamberts, the Belgian Green MEP who led calls for the bonus cap, said the measures "will really bring down pay" in the sector.
So we can reduce this deficit, pay down our debt, and pay for this jobs plan in the process.
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If you're willing to really sit down and pay attention, all kinds of subtle beauty and inspiration will begin to unfold for you.
No way are the good citizens of the United States of America going to put their heads down and pay that kind of debt.
As more world economies falter and Wall Street finds trading and banking volume down and pay packages with it, prices in New York are now starting to reflect these realities more fully.
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Mr Crabb stressed the UK government's commitment to supporting the poorest in communities through clamping down on pay-day loans and doorstep lenders, and by offering winter fuel payments to help with increasing energy bills.
Britain's Financial Services Authority may have watered down its pay code after bankers whinged about losing talent, but it has been using moral suasion to good effect, calling bosses to express its displeasure at the re-emergence of guaranteed bonuses.
Because stock ownership, even by large institutional investors, is so widely dispersed, the potential return an investor can get by being an activist shareholder is too low to justify spending his or her time and money on efforts to hold down unnecessary pay and spending.
About 6 in 10 of all voters and independents agree with each of these proposals: cracking down on pay packages that encourage excessive risks, a Consumer Financial Protection Agency separate from the Federal Reserve and a new tax on the largest financial institutions to recoup any bailout losses.
Much economic theory argues they should have saved or used it to pay down debt.
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Since 1930, there has been no concerted effort to pay down the national debt.
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In addition, we can charge these immigrants an entry fee to help pay down the debt.
He said that he would use that money to help pay down the deficit.
Now he says we won't use that money to help pay down the deficit.
The key question is: where are people getting the money to pay down this debt?
Chesapeake has promised to sell stuff in order to raise billions needed to pay down debt.
Her spokesperson at the time advised that Lil Kim was working to pay down her debt.
The European banks are being given a weekly opportunity to pay down this debt.
She could use the proceeds to pay down her loans or go to grad school.
He used profits from selling oil to pay down debt and prepare for the inevitable crash.
The Greek Government is introducing a wealth tax to try and pay down the national debt.
Even if housing stabilises, consumer spending will stay weak as households pay down debt.
First, individuals will have more money in their pockets to spend, save, or pay down debt.
REITs have been using capital raised through equity sales to pay down debt and make acquisitions.
Do you need the money now to pay bills or pay down high interest debt?
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Incremental, slow improvements as both consumers continue to pay down debt, and repair their household finances.
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It is not clear where the growth will come from to pay down their debts.
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