If Europe's problem was simply one of excessive debt, the current criticism of Ms. Merkel would be justified.
Both political parties are using the debate over caps as yet another proxy for a fundamental philosophical disagreement: Is the current fiscal challenge an excessive deficit or a bloated government?
"Negotiations are ongoing, but Fox's current demands are unreasonable and excessive, especially in this economic climate, " said Time Warner Cable spokeswoman Maureen Huff.
Berlin's aim is to perfect the monetary union by ensuring countries adhere to rules designed to prevent future crises by addressing what are seen as the causes of the current one: government overspending and excessive risk-taking by banks.
As he said to me yesterday, he is concerned that the current wave of protest votes against excessive executive pay could turn out to be a passing fad - and he therefore wants a constitutional change that would lead to a permanent transformation of big institutional shareholders into properly informed and engaged proprietors.
But nothing guarantees that current practice achieves the right balance between excessive and insufficient risk-taking.
The trust was told the current shortage is caused by an "excessive proportion" of patients staying longer than 10 days compared to most other hospitals.
The Conservatives said excessive borrowing and debt under Labour had led to the current financial mess.
As Jeffrey Sachs has pointed out in the current context, the 2008 global fi nancial crisis resulted from excessive bank lending during the earlier part of the decade, the consequence of deregulation and overly loose monetary conditions from the Fed, the European Central Bank (ECB) and other developed world central banks.
Ford also didn't flinch when the Federal Reserve's anti-inflation tightening plunged the U.S. into its worst economic downturn since the 1930s. (Sadly, the gains against inflation--the rate had fallen almost three-fourths by the time Ford left office--were lost, and then some, under President Jimmy Carter.) And, unlike the current White House occupant, President Ford readily used his veto pen on excessive spending bills and other legislation he thought harmful.
However, it was unable to enforce the ruling after the judge in the current case said he first needed to decide whether Motorola's fees were excessive.
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