Word: pact
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Dates: during 2000-2009
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...obsesses about the emergence of China as a low-cost economic colossus, European Union nations have turned inward. They are preoccupied by the addition of 10 new E.U. members this year, by the tussle over a new European Constitution and by the collapse of the Growth and Stability Pact, which imposed rigid discipline--overly rigid, critics say--on governments to curb deficits. Europeans are concerned about the impact of the falling dollar on their exports, but they have yet to take action to stem the tide. "Be patient with Europe," pleaded Blanque. After all, he said, economic-reform efforts...
Naim and Tyson quickly took issue with him. "It's amazing how little worried the Europeans are about the euro," Tyson said, pointing to two controversial areas: the European Central Bank's relatively tight monetary policy and the E.U.'s battered Growth and Stability Pact, which long required governments to limit their debt and budget deficits. Exchange rates matter, she contends. The past 10 years were "a lost decade" for Germany because--among other reasons--the former West Germany reunified with the former communist East Germany at an exchange rate that was too high. "How many times...
...inefficient farming sector. The nation's finances are also deteriorating, with total debt creeping up toward 60% of GDP. Sikora said most Polish economists believe Poland should adopt the euro as soon as possible, perhaps by 2007. But he says that uncertainties about the Growth and Stability Pact may push that date back a couple of years...
...giving too much leverage to the U.S. The alliance between Singh's centrist Congress Party and the Left Front has always been fragile, bridging differences on issues ranging from India's geopolitical alignment to the licensing of supermarket chains. And to the leftists, the idea of signing a landmark pact that would align India with the U.S. "imperialists" and require annual certification of India's good standing by the White House, was grounds for divorce...
...While they may restrain him from concluding a pact of such epic importance, Singh can ill afford to lose the support of the communists, because their departure from his coalition would have forced snap elections 18 months early. If he had been counting on convincing the Left to drop its opposition to the deal at the eleventh hour, he has badly miscalculated. Communist demands that the government refrain from negotiating nuclear safeguards with the IAEA - the next phase of implementing the deal - have prevailed, and it is the government that appears to have been forced to back down...