As a result, fiscal consolidation appeared to be the only way to restore confidence.

Threading the Fiscal Needle

Restructuring damages the euro, and fiscal consolidation in the distressed countries, while necessary, is probably not sufficient.

Many investors also feel the need to balance increasingly speculative investments ( satellite positioning ) with much safer investments ( core positioning ).

In the United Kingdom, the new government gave several reasons for front loading fiscal consolidation.

Austerity based fiscal consolidation is likely to fail, because sustainable public budgets are best achieved on the basis of strong economic growth.

Further, the Secretariat has taken measures to improve the presentation of financial information.

In the US, consolidation has barely begun.

But a fiscal crisis calls for political self restraint.

So it would have been lethal to embark on fiscal consolidation back then.

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

Any measures to improve living conditions should be carried out in collaboration with the national authorities and should not be conflictual.

This calls for caution with consolidation efforts.

Second, adjustment fatigue is widespread and becoming more acute.

Fiscal consolidation is the second pillar of France s economic strategy.

B. Public finance . 47 50 10

Facilitative policy measures

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J. Public finance . 74 78 15

J. Public finance

B. Public finance . 11 13 5

B. Public finance . 27 31 7

B. Public finance . 42 44 10

Case study on outward foreign direct investment by Singaporean firms

Europe needs fiscal consolidation, reductions in carbon emissions, and a strategy for economic growth.

A team of finance staff members was sent to the mission to assist in bringing the financial operations of UNOSOM up to date so that expenditures may be properly controlled.

Measures to prevent and detect money laundering in financial entities

The document describes the situation with public health in Latvia, pointing at the main problems and the possible solutions.

In each case where fiscal consolidation supposedly was expansionary, the economy grew because of some third factor.

Indeed, in contrast to the United States, eurozone authorities were slow to consolidate the banking system after the global financial crisis erupted in 2008, and failed to sever the ties between sovereigns and banks balance sheets. Nor did they push strongly for structural reforms.

B. Public finance . 53 56 10

6. Public administration and fiscal affairs

Public administration and fiscal affairs

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B. Public finance . 46 47 10

Only by adjusting the distribution of public finance can China s leadership help local governments to decrease their reliance on land transfer revenues and bank loans.

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