"Financial forces have been dominating the adjustment process in the euro area, " Mr. Gaspar told an audience of economic policy makers in Brussels on Tuesday.

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Officials at some schools are asking accepted applicants who haven't said yes or no if "there are financial issues within reason where we can make an adjustment, " he said.

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"Most families have to make a significant adjustment from their working lives to their retirement years, " said financial planner Sheryl Garrett, who runs the Garrett Planning Network.

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In this regard they reaffirmed the commitment from June 29th to task the Eurogroup to examine the situation of the Irish financial sector with a view to further improving the sustainability of the well performing adjustment programme.

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To many it seemed like a small adjustment, but in reality, it will mean a near instantaneous financial windfall for players in the NFL. When the new CBA for the league was reached there was a change in how revenues would be split between the owners and players.

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If the government tries to stave off that adjustment by massive fiscal means, it might delay the further interest-rate cuts that financial markets expect in coming months.

ECONOMIST: The economy