Debt overhangs are now so large in many (core economies) that they are increasingly unlikely to be able to fix them by fiscal effort alone.
Recently announced tax breaks for expensive fields are having an impact, but it will take more fiscal effort to encourage drilling and to retain the value in old equipment being kept in service.
The economic and social costs from this myopic fiscal policy were well learned and helped guide the sustained pragmatic fiscal policy effort of the past decade in countries like Brazil, though much of it was forced on them by the International Monetary Fund bailouts and resulting conditions of those bailouts at the time.
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The document is an honest and thoughtful effort to restore fiscal balance through the combination of reduced spending and entitlement program reforms, and increased economic growth.
Provided that Brazil regains its nerve on fiscal policy and makes every effort to pass the tough measures it promised, the loan package should stay in place.
It would be a bipartisan effort based on fiscal responsibility -- and a courageous bit of political judo that would help him close the growing credibility gap with independents.
Gov. Jerry Brown recently announced a pension reform plan, but advocates for more fiscal responsibility are calling the effort underwhelming as many more cuts need to be made.
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At Los Cabos, the G20 looks forward to hearing more from the European leaders on the progress of their efforts to stabilize their banking system and promote growth, and to hear what their vision is for taking this effort forward toward fiscal and financial union.
Politicians face a eleventh-hour effort to fix the fiscal cliff, a series of tax increases and spending cuts that could push the U.S. into a recession next year.
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The 17 members of the eurozone, of which the UK is not a part, are expected to back further fiscal and political integration in an effort to prevent a repeat of the debt crisis.
In 2003, Tides launched an effort that has become the National Network of Fiscal Sponsors (NNFS).
Although the firm had pinned its hopes on international growth, it was China's effort to boost domestic consumption through a massive fiscal stimulus that prevented a worse outcome.
So it was a big deal when Michael Nutter, the city's mayor, decided in November to close 11 of them in an effort to cope with the city's fiscal woes.
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Mr Manuel sees his fiscal surplus as the government's contribution to a national saving effort.
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He told me that any more aggressive effort to stimulate the economy at that time - either fiscal or monetary - would have been "doomed to fail".
She was appointed by Cuomo to be the co-chairwoman of the state Democratic Party and has led the effort to get Cuomo to hold a summit on the fiscal crisis.
The escalating cost of the firefighting effort comes at a time when the state is tackling a huge fiscal crisis, with many public sector workers being laid off.
In recent weeks, Athens has begun fast-tracking energy projects in an effort to show some level of growth and job creation amid creeping unemployment and fiscal uncertainty.
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Euro-zone governments, in an effort to convince markets of their seriousness in getting their finances under control, agreed to tougher fiscal disciplines that they said would be policed vigorously by the Brussels-based commission.
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