Amazingly, given the fiscal pressure on governments, only one country increased its corporate income-tax rate: Lithuania, from 15% to 20%.
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That will mean that the only adjustment mechanism they have to meet that with is fiscal and unemployment: pressure on wages, pressure on prices.
After the election, the pressure on the government to tighten fiscal policy, and on the central bank to raise interest rates, will rise.
"However, weaker-than-expected growth and fiscal outturns in 2012 have increased pressure on the UK's 'AAA' rating, which has been on negative outlook since March 2012, " Fitch said in a statement, meaning it is still on review for a possible downgrade.
Spain risks a downward spiral in which fiscal tightening harms growth, putting further pressure on public finances.
If fiscal cliff talks drag on, it could support gold and pressure stocks.
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Looser fiscal policies, or even the risk of them, would add to the pressure on some countries' bonds.
The bond market's skittishness puts more pressure on the Greek government to come up with a credible plan for fiscal retrenchment.
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Power contends Street forecasts for the February 2013 fiscal year are still way too high, and that falling estimates are likely to keep pressure on the shares.
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The ongoing debate over the fiscal cliff and the threat of increased conflict in the Gaza Strip are likely to add further pressure on stocks over the near term.
Turning ones eyes toward the U.S., weak personal income (as the private sector continues to de-leverage) continues to put pressure on the economic outlook, while political gridlock in Washington makes it unlikely that fiscal stimulus will come any time soon.
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Going over the fiscal cliff, though, would reverse those gains, with a recession lowering tax revenues and putting pressure on budgets, all while seeing their federal contributions dwindle.
Regardless of impressive strength from Cisco on strong earnings and Facebook despite a lock-up expiration, weak economic data, uncertainty over the fiscal cliff, and the escalation of a military conflict between Israel and Palestine have conspired to keep the pressure on equities.
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Pressure on the central bank to ease policy has grown after the government took steps to reduce its fiscal deficit and boost growth.
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