- Futuresmarketswereproposedinearly1988,buttheirimplementationwasdelayedbyanausterityprogrambeguninSeptember1988andeconomicdifficulties,theChinaDailysaid.IfItalydeteriorates,Spainwouldlikelyfollow,andevengreaterpressurewouldbeplacedonFrance,whichalread...
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- AstheEconomistwenttopress,theywereexpectedtoimplementtheausterityplaninasecondvote.TheonlybigEuropeaneconomyyettospelloutanausterityplanisfrance-acountrybadlyinneedofone.AspeechhegaveinAugustonthedangertotheeconomicrecoveryfromthegovernment'sausteri...
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- ButGermanyagreedtohelponlyifGreecepromisedtoughausteritymeasures.InJunehesaidthat"theideathatausteritymeasurescouldtriggerstagnationisincorrect."AsaresultausteritymeasuresacrossmuchofEuropemustfocusoncuttingspending.Yetsomeausteritymeasurescouldpro...
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- NexttoBritain'sdrasticausteritybudget,Frenchplanslooktimid.LateWednesday,PortuguesePrimeMinisterJoseSocratessubmittedhisresignationaftertheparliamentrejectedhislatestausteritybudget.ThereisasummitofEuropeanleadersnextweek,andGreecemustsoonpassanaust...
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- Butthen,thatisthenatureofausterity.Publicausterityandtransparencyarethewatchwordsinthemanifesto.Manyclaimthatfiscalausteritycouldevenboostgrowthintheshortterm.Amoreseriousargumentisthatexcessiveausteritymayaggravatetherecession.Punditsarecoiningphras...
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- ButGermanyagreedtohelponlyifGreecepromisedtoughausteritymeasures.InJunehesaidthat"theideathatausteritymeasurescouldtriggerstagnationisincorrect."AsaresultausteritymeasuresacrossmuchofEuropemustfocusoncuttingspending.Yetsomeausteritymeasurescouldpro...
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- Whygettothethresholdofrealestateexperienceausteritypolicy?Therescueplanandausteritypolicymaybedifficultforthepublictoswallow....
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- InsteadofmakingtoughstructuralchangestotheItalianeconomyinitsausteritypackage,theItalianstatedecidedtosimplyraisetaxesandcutjobs.DeficithawksmightpointtoanotherBritishparallel,the1981budget,inwhichMargaretThatcher'sgovernmentunveiledanausteritypacka...
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