The emergency Budget in June was the moment when fiscal credibility was restored.

If matched by a genuine commitment to develop fiscal credibility, countries could increase their economic growth substantially.

Giving the ECB a quasi fiscal role, even if it is somewhat insulated from losses, risks undermining its credibility.

Their sound financial systems, strong fiscal frameworks, low public debt, and strict adherence to inflation targets give them credibility.

A shadow or actual International Monetary Fund program would vastly enhance the credibility of a policy of fiscal retrenchment and structural reforms.

While that could be contractionary, the gain in fiscal policy credibility might prevent a damaging spike in long term government bond yields.

As long as enforcement of fiscal discipline is entrusted to an intergovernmental body, the problem is bound to reappear, limiting the credibility of common budgetary rules.

Countries such as Brazil already have such high levels of transfer payments from rich to poor that further moves would undermine fiscal stability and anti inflation credibility.

And it can happen to any country, although advanced countries can usually tighten fiscal policy with sufficient speed and credibility that the pain comes mainly in slower growth.

The Security Council s Credibility Test

Credibility of int'l system tested.

Fifa s declining accountability and credibility

Fiscal adjustment and structural reform without financing is more fragile and liable to fail without a war chest of liquidity to prevent a run on public debt while the appropriate policies are implemented and gradually gain credibility.

The ECB s credibility is on the line.

This strategy s success, starting with the speed of restored access to external financing, would depend on the credibility of government policies monetary, fiscal, and, above all, the radical and indispensable supply side reforms for which there would now be breathing space.

Sadly I used to work in a place which I thought had credibility but its credibility is based on a despicable political stance.

In addition, where national adjudication systems are weak or lack credibility, having independent outside experts address major complaints can help provide that credibility.

The European Central Bank also lost its credibility.

Simple propaganda lacks credibility and thus is counterproductive.

The credibility associated with a simple rule disappeared.

Effectiveness and credibility depended on concrete development results.

A question of credibility responding to unfounded criticism

Default was not an easy way out, and all US states (with the exception of Vermont) have since embraced balanced budget amendments to their constitutions as a way to shore up their fiscal credibility. Are EU members prepared to take a similar step?

Any hint that the country may be locked again in parliamentary inertia, as in the final months of Berlusconi s last government, would push the markets to question the credibility of Italy s fiscal consolidation plan, jeopardizing the country s ability to refinance its debt.

Meanwhile, the state lurches from fiscal tragedy to fiscal farce.

Unfortunately, the process lacks the necessary transparency and credibility.

The credibility of the United Nations is at stake.

The Treaty must be strengthened and its credibility improved.

Fiscal consolidation was not, however, the result of formal fiscal rules.

Fiscal Follies

Governments fear that they will lose credibility with financial markets.

But restoring trust and credibility requires more than southern discipline.

As a result, politics has become a contest about credibility.

Meanwhile, the credibility of Draghi s atomic weapon is being undermined.

Rather, it depends on a combination of capability and credibility.

Fiscal stimulus is turning into fiscal austerity and a drag on growth.

Loss of credibility, if it comes, can bite hard and fast.

A deterrent that is too dangerous to invoke would lack credibility.

Now, more than ever, it needs Anwar to reestablish its credibility.

He destroyed the credibility of colonialism by opposing principle to force.

Too slow will kill credibility, but too fast will kill growth.

The Monti government has restored market confidence and Italy s international credibility.

If that continues, the Commission will lose much of its credibility.

When this credibility is established, properly structured leniency programme will succeed.

The effectiveness and credibility of the NPT depended on its universality.