Usually, we would expect the others to have an interest in more market discipline.

The idea of a separate discipline of pure mathematics may have emerged at that time.

The US would then be subject to tighter policy discipline.

Tough sanctions and constraints, it is said, would also be able to induce debt discipline.

Whether we arrive safely at our destination depends on the discipline of the drivers and the ingenuity of all those involved in the construction effort.

Yes, one can almost hear them saying, we understand that bailing out banks will subvert market discipline.

Pakistan will continue to promote a nuclear and conventional weapons restraint regime in South Asia.

When market discipline comes, it is usually too late, too severe, and applied indiscriminately.

In the late 19th Century this was added to the annual Army Act and embodied in the Naval Discipline Act.

Note also that this would also be a much more effective disciplining mechanism than the defunct Stability and Growth Pact.

But these rules don t address the main problem the weakened incentives for market discipline for core financial institutions.

Both market discipline and sound fiscal management are needed to create a reasonable chance of long run price stability.

The existence of alternatives to the dollar will mean that the issuers of internationally used currencies will feel market discipline earlier and more consistently.

New arrangements for monitoring member states budget balances have been introduced, but they can do nothing about the stock of debt outstanding.

Genuine eurozone stability presupposes macroeconomic alignment, which in turn requires the political integration of a well functioning economic union.

Cheap funding and land revenue have led to excess infrastructure and industrial capacity without adequate market discipline.

Many Chinese seem to believe that market discipline will bring fair competition and contribute to closing the widening gap between rich and poor.

Changing that pattern will require a restructured financial system that allocates savings efficiently, based on fiscal and capital market discipline and corporate governance reform.

This is primarily because regulators despite what they may claim effectively protect megabanks from market discipline.

But this is not true. Budget discipline will work only insofar as it drives the country into a depression and induces a real devaluation through a reduction in wages and prices, which is option two.

The Mission's managers should ensure that the next budget submission satisfied the Advisory Committee and gave Member States assurances of proper planning, strict budgetary discipline and oversight.

The lesson to be learned from the crisis is that a currency union needs ironclad budget discipline to avert a boom and bust cycle in the first place.

For public finance, too, the orthodox rule was that budgets should always be balanced except in emergencies, governments should never spend more than they earned in taxation.

Her humanity and compassion are coupled with an acute sense of the iron discipline required for effective governance. These are the reflexes of an impeccable stateswoman.

Many entrepreneurs and small businesspeople can now run their entire operations on a computer, and people keep their recipes not only organized, but also online.

After years of torturing people in one of South America s most savage dirty wars, Brazil s generals decided to stop it, because its institutionalized use was undermining the armed forces discipline and morale.

Any attempt in that direction is detrimental, because it would divert attention from the useful goal of disciplining the CDS market to make it more transparent, stable, and efficient.

The lesson to be learned from the crisis is that a currency union needs ironclad budget discipline to avert a boom and bust cycle in the first place. Again, there are three possibilities worth considering

What about market discipline? Is the German government s willingness to issue more debt and run bigger deficits limited because the market recognizes and penalizes nation states that allow their fiscal positions to weaken?

Whether we arrive safely at our destination depends on the discipline of the drivers and the ingenuity of all those involved in the construction effort. Technological innovation provides the excitement.

For the markets, this is a disappointment, but there is no other way for these countries to rebuild themselves than to insist patiently on a phase of debt discipline and an end to lax budget constraints.

EU countries agreed to limit their fiscal deficits to 3 of GDP to ensure debt discipline under the euro, so that no country could use the new currency to take its neighbors hostage and force them into bailout operations.

Also, RTAs have generally made little progress in developing disciplines on non discriminatory domestic regulation potentially affecting trade in services, and also on addressing safeguards and subsidies.

The strategy was based on the presence of entrenching governance provisions, such as a classified board or a poison pill, which insulate managements from the discipline of the market for corporate control.

China undoubtedly needs to rebalance its economy and introduce more market discipline in its financial system. Demography will give a helping hand with the former challenge.

It was recognized that, once a country adopted the euro, financial market discipline would be constrained to credit spreads on sovereign debt which turned out to be even smaller than foreseen, as interest rates converged to a remarkable degree until 2007 8.

So, too, are signs of newfound policy discipline such as a central bank that seems determined to wean China off excessive credit creation and fiscal authorities that have resisted the timeworn temptation of yet another massive round of spending initiatives to counter a slowdown.

Moreover, financial markets underpriced private and sovereign credit risks, in the implicit belief that no one would fail, and that all debts would somehow be made whole, implying weak market discipline on borrowers.

In many of these cases Turkey during the 1990 s is a good example financial markets enabled irresponsible governments to embark on unsustainable borrowing sprees. When market discipline comes, it is usually too late, too severe, and applied indiscriminately.