Word: n
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Dates: during 2000-2009
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...household spending and business investment drop sharply and exports don't take up the slack, Europe could be confronted with deflation of the sort that took hold in Japan in the 1990s. "We're somewhere between the two," says Riches-Flores of Société Générale...
...weighed down by debt levels. "It was transfusions of credit that made the economy buoyant, but if there's no growth from credit now, what will support the economy in the longer term?" worries Véronique Riches-Flores, chief European economist at Société Générale in Paris...
...part of a coordinated rate cut by the world's biggest central banks. Riches-Flores expects the bank to cut rates further in the near future as the economy slows. At the weekend, the E.U.'s Commissioner for Economic and Monetary Affairs, Joaquín Almunia, even called for monetary easing "in the near term." But Trichet is famously stubborn and independent, and the bank's entire culture is built on a near obsession with inflation...
According to Rafael Martín, the mayor of Alameda de la Sagra, the town's coffers have seen a drastic reduction in income - from an average of $140,000 in recent years to $35,000 - as building license fees have dried up. Although he is determined not to cut social services, he predicts that some planned investments will be revisited in the coming year. "Instead of building a new traffic circle or installing new streetlamps all at once," he says, "we'll have to spread them out over two or three years." But he's most concerned about...
...come to know our neighbors well here. Such is the reality of Harvard residential life, where paper-thin walls and N - 1 housing often force us to live a little too close for comfort. Since ancient wood paneling rarely functions as an effective sound barrier, we’re left little choice but to cohabitate, at least aurally, with the suite next door...