Word: poncet
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Dates: during 2000-2009
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...considered as excessive," it said after the announcement of the coordinated bank bailout. The crucial word there is "temporarily." Much of Europe's economic growth over the past few years came about because of a self-imposed fiscal discipline. But, as Patrice Poncet, a finance professor at ESSEC Business School in France, points out: "It's the tendency of politicians to turn temporary measures into permanent ones." Extraordinary times demand extraordinary measures. But for Europe's leaders, deciding to bail out the banks may turn out to have been the easy part...