Word: exits
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Dates: during 2000-2009
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...asset prices tanked, lending dried up and growth shriveled, governments and central banks were forced to take similar steps - pump up fiscal spending and slash interest rates to support growth and unfreeze financial markets. Now, as an economic recovery emerges, governments are hoping for another coordinated effort to exit from their massive stimulus plans, including near-zero interest rates. That intention was clearly laid out during the September G-20 summit in Pittsburgh, Pa. The leaders of the world's 20 most influential economies pledged to "withdraw our extraordinary policy support in a cooperative and coordinated...
...haphazard exit from stimulus measures, with countries going their separate ways, could pose its own set of problems. In this era of globalization what one government does in one corner of the world can have a knock-off effect on economies in another corner. For example, countries that raise interest rates ahead of others could end up attracting money from foreign investors seeking a higher return, potentially draining funds away from economies that are still badly in need of investment. Or if too many governments turn off the stimulus tap too quickly, global demand could fall sharply. "An unruly rush...
...Though governments are aware of the dangers of an uncoordinated exit, they prefer to keep their options open, since they must also address domestic political concerns. That means clearly defined time frames or targets for any exit could prove hard to achieve. The financial crisis "is affecting differently every country. Every country will have to define its exit strategy in its own time," Portugal's Finance Minister, Fernando Teixeira dos Santos, reportedly said at a conference of European Union ministers earlier this month in Sweden. "I don't think that we can have a precise, or a common, schedule...
...didn’t win an Ig Nobel prize tonight—and especially if you did—better luck next year,” said MC Marc Abrahams. Bewildered, FM couldn’t agree more as we quickly escaped through the nearest exit...
...evasion case against Swiss banking giant UBS. The former UBS employee turned whistle-blower exposed the previously hidden world of offshore tax shelters, which cheats the Treasury out of about $100 billion a year. Thanks to his insider information, UBS was fined $780 million, and it promised to "exit entirely" from the U.S. tax-shelter business and to provide the names of thousands of American tax dodgers, from which hundreds of millions of dollars still might be collected. It also led to new tax treaties with the Swiss that should provide unprecedented tax information in civil cases and better access...