It may also mean dodging hard cost-cutting.

ECONOMIST: Italian banking

They also claim that the government is feeling the financial pressure: clothing exports to the United States fell by 27% in 2002, for example, cutting into its hard-currency earnings.

ECONOMIST: Myanmar

Last week, Prime Minister Keizo Obuchi warned Nissan that it should think hard about the impact of its drastic cost-cutting program on workers and subcontractors.

CNN: ASIANOW - TIME Asia | Japan: No More Jobs for Life

But, according to Becker, cost-cutting opportunities would be limited since it is hard to lay people off in the home market of both banks.

FORBES: A Not-So-Grand Allianz

Yet in continental Europe, it is hard to increase profitability by cutting costs because sacking people is expensive, time-consuming and unpopular.

ECONOMIST: Hostile reception

Local oil firms will find it hard to compete, because, on current evidence, they are not especially good at cost-cutting.

ECONOMIST: Japan��s oil industry: Help yourself | The

An oil embargo imposed by the European Union in July and other measures that have included cutting Iran off from international financial-settlement mechanisms and maritime insurance are hurting hard.

ECONOMIST: Iran��s nuclear programme

If it's this hard to get more than a handful of Republican votes on what is relatively easy -- spending tons of money and cutting people's taxes -- when you look down the road at health care and entitlement reform and energy reform, those are really tough choices.

WHITEHOUSE: Presidential Press Conference