EU Proposes More Forgiving Debt Plans A Decade After Crisis
De Wikifliping
| Revisión de 02:08 25 feb 2023 AraNgq667596772 (Discusión | contribuciones) ← Ir a diferencia anterior |
Revisión de 05:23 25 feb 2023 BeauLehrer55 (Discusión | contribuciones) Ir a siguiente diferencia → |
||
| Línea 1: | Línea 1: | ||
| - | BRUSSELS (AP) - The European Union is considering more lenient economic recovery proposals that veer away from the grinding, and several other countries during the debt crises a decade ago and helped push millions into poverty, homelessness and unemployment.<br> The European Commission, the EU´s executive arm, said Wednesday that the new plans would give member states with serious debt issues far greater leeway in combining a commitment to longer-term debt reduction while not excessively burdening a stretched population over too short a time.<br> After the 27-nation bloc had to spend its way out of a COVID-19 recession and as another downturn looms with , the challenge is keeping investment high and debt levels manageable.<br> "Of course, times they are a changing," said EU Economics Commissioner Paolo Gentiloni, addressing the differences between the current proposals and earlier commission decisions.<br> During the debt crisis, struggling nations from Greece to Portugal were barred from more conventional methods like massive borrowing to spend their way out of bad times and instead had to tighten their belts.<br><br>That focus on bringing debt down with strict budget rules instead of boosting economic growth is now often seen as having exacerbated the crisis for many people.<br> Gentiloni went close to saying as much Wednesday. The reduction of debt "was not successful because the rules became more and more unrealistic. And when you have unrealistic path, at the end you have no path."<br> European Commissioner for Justice Didier Reynders, left, talks with European Commissioner for Economy Paolo Gentiloni as they arrive for the weekly College of Commissioners meeting at EU headquarters in Brussels, Wednesday, Nov.<br><br>9, 2022. (AP Photo/Geert Vanden Wijngaert)<br> Later, reflecting on the devastating consequences of the crises that nearly brought the euro currency to its knees, he pulled back and said, "I don´t think we could blame these rules for the enormous crisis and difficulties."<br> In hindsight, even EU officials have acknowledged there was an excess of austerity over a short period after the 2008 financial crisis, compounded by the sovereign debt crisis in a half-dozen EU nations a few years later.<br> The EU's response, coordinated by the commission, was to impose stringent austerity on nations that had led debt spiral out of control as several nations teetered on the brink of bankruptcy.<br> Even though most of the EU nations , economic and financial policy was still decided in national capitals.<br><br>Germany lived by any rule that would keep debt as low as possible, while much-poorer nations like Greece saw public spending as a way to wealth.<br> Investors stopped lending Greece money in 2010 after Athens acknowledged misreporting key budget data.<br>To keep the country afloat, its European partners and the International Monetary Fund approved three rescue loan programs lasting from 2010 through 2018 worth a total 290 billion euros ($293 billion).<br> In exchange, international creditors exacted what many Greeks still see as a pound of flesh: deep state spending and salary cuts, tax hikes, privatizations and other sweeping reforms aimed at righting public finances.<br> The economy contracted by more than a quarter and skilled professionals emigrated in droves.<br><br>Poverty and unemployment skyrocketed, and at one point over a quarter of the workforce was jobless.<br> That fallout shows why the EU proposals are now centering on giving nations a better sense of self-determination and making sure that investments should be maintained rather than stifled.<br> "With the wisdom that you can have after the crisis, we can say that we were not able to keep the level of investments as they should have been in the 10 years after the economic and financial crisis," Gentiloni said.<br><br>"And this is something that we have to change."<br> German reaction was swift - and predictable. Finance Minister Christian Lindner said that "it is clear that any reform of the European fiscal rules must correspond to the core principle of ensuring financial stability."<br> "We need on one hand a growth-friendly policy, but on the other hand, debt ratios in the European Union must be resolutely reduced," Lindner told reporters in Berlin.<br> ___<br> AP reporters Geir Moulson in Berlin and Elena Becatoros in Athens contributed to this report.<br> European Commission President Ursula von der Leyen, center, talks with European Commissioner for Energy Kadri Simson, right, and European Commissioner for Health and Food Safety Stella Kyriakides as they arrive for the weekly College of Commissioners meeting at EU headquarters in Brussels, Wednesday, Nov.<br><br>9, 2022. (AP Photo/Geert Vanden Wijngaert)<br> <br><br><br>If you have any concerns concerning exactly where and how to use [https://en.volos-minivan.eu/ATHENS-0000000068-taxi-fare-piraeus-to-athens-airport.html taxi fare piraeus to athens airport], you can get hold of us at our web site. | + | "While the full extent of the social and economic impact is still unfolding, before and throughout the pandemic women were more likely to be unemployed or to work fewer hours than they wished," the report published on Wednesday said.<br><br><br><br>Women in positions of authority has largely driven this modest growth, although they remain underrepresented in politics, making up just over a third of members of regional and local/municipal legislatures and 33% of members of national parliaments, Tailor Made Tour guided tours EIGE said.<br><br>Zhong Nanshan, a prominent Chinese epidemiologist, said that 99% of people now infected with the virus would recover in 7 to 10 days, in comments reported by the People's Daily, taxi service Pelion greece controlled by the ruling Communist Party.<br><br>BRUSSELS (AP) - The European Union is considering more lenient economic recovery proposals that veer away from the grinding, and taxi Trikeri greece several other countries during the debt crises a decade ago and helped push millions into poverty, homelessness and unemployment.<br><br><br><br>'Fake socialite' scandal rocks Sydney's D-list as 'actress... Sports commentator and cricketing legend James Brayshaw... Allison Langdon is CONFIRMED as new host of A Current Affair... Natalie Bassingthwaighte, 47, shows off her VERY youthful...<br><br>There is a persisting gender gap among key decision-makers in major Dion corporations and taxi service Pelion greece financial institutions in the EU, with women accounting for 8% of CEOs, 21% of executives, Volos Airport airport to city taxi cost and 34% of non-executives in the first half of 2022, EIGE said.<br><br>Amid the caution, state-broadcaster CCTV announced further easing, with tourism and taxi online Delphi greece entertainment venues - including theatres, libraries, internet cafes and table game centres no longer requiring COVID tests and health codes.<br><br>BEIJING, Dec 9 (Reuters) - Judging by Friday's quiet streets in China's capital Beijing and the reluctance of some businesses to drop COVID curbs, enduring anxieties about the coronavirus are likely to hamper a speedy return to health for the world's second-largest economy.<br><br>Erdogan said Athens understood Ankara's message when Turkish officials have said "we may suddenly arrive one night" - a comment that Greek and taxi service Katigiorgis greece some other Western officials have condemned as a threat to a neighbouring state.<br><br><br><br><br><br>Yet China has been anything but placid during the past few weeks, with protests against COVID curbs in many cities that marked the biggest show of public discontent since President Xi Jinping came to power a decade ago.<br><br>Although the government on Wednesday loosened key parts of its strict "zero-COVID" policy that has kept the pandemic largely at bay for the past three years, many people appear wary of being too quick to shake off the shackles.<br><br>After the 27-nation bloc had to spend its way out of a COVID-19 recession and as another downturn looms with Russia's war in Ukraine worsening inflation, the challenge is keeping investment high and debt levels manageable.<br><br>Little more than a month after the National Health Commission stressed commitment to its strict virus containment policy, saying it was "putting people and lives first", authorities have changed tack and are now telling people they have less to fear.<br><br>On the Beijing subway, many seats were empty on Friday night during what should have been rush hour, even though the city this week scrapped the need to show negative tests [https://en.volos-minivan.eu/ATHENS-0000000216-taxi-Pelion-to-airport-price.html taxi Pelion to airport price] ride trains or enter offices.<br><br>The European Commission, the EU´s executive arm, said Wednesday that the new plans would give member states with serious debt issues far greater leeway in combining a commitment to longer-term debt reduction while not excessively burdening a stretched population over too short a time.<br><br>Gentiloni went close to saying as much Wednesday. The reduction of debt "was not successful because the rules became more and more unrealistic. And when you have unrealistic path, at the end you have no path."<br><br><br><br>German reaction was swift - and predictable. Finance Minister Christian Lindner said that "it is clear that any reform of the European fiscal rules must correspond to the core principle of ensuring financial stability."<br><br>In exchange, international creditors exacted what many Greeks still see as a pound of flesh: deep state spending and salary cuts, tax hikes, privatizations and Vergina escorted tours other sweeping reforms aimed at righting public finances.<br><br>In hindsight, even EU officials have acknowledged there was an excess of austerity over a short period after the 2008 financial crisis, compounded by the sovereign debt crisis in a half-dozen EU nations a few years later.<br><br>Investors stopped lending Greece money in 2010 after Athens acknowledged misreporting key budget data.<br>To keep the country afloat, its European partners and the International Monetary Fund approved three rescue loan programs lasting from 2010 through 2018 worth a total 290 billion euros ($293 billion).<br><br>During the debt crisis, taxi prices Delphi greece struggling nations from Greece to Portugal were barred from more conventional methods like massive borrowing to spend their way out of bad times and instead had to tighten their belts. |
Revisión de 05:23 25 feb 2023
"While the full extent of the social and economic impact is still unfolding, before and throughout the pandemic women were more likely to be unemployed or to work fewer hours than they wished," the report published on Wednesday said.
Women in positions of authority has largely driven this modest growth, although they remain underrepresented in politics, making up just over a third of members of regional and local/municipal legislatures and 33% of members of national parliaments, Tailor Made Tour guided tours EIGE said.
Zhong Nanshan, a prominent Chinese epidemiologist, said that 99% of people now infected with the virus would recover in 7 to 10 days, in comments reported by the People's Daily, taxi service Pelion greece controlled by the ruling Communist Party.
BRUSSELS (AP) - The European Union is considering more lenient economic recovery proposals that veer away from the grinding, and taxi Trikeri greece several other countries during the debt crises a decade ago and helped push millions into poverty, homelessness and unemployment.
'Fake socialite' scandal rocks Sydney's D-list as 'actress... Sports commentator and cricketing legend James Brayshaw... Allison Langdon is CONFIRMED as new host of A Current Affair... Natalie Bassingthwaighte, 47, shows off her VERY youthful...
There is a persisting gender gap among key decision-makers in major Dion corporations and taxi service Pelion greece financial institutions in the EU, with women accounting for 8% of CEOs, 21% of executives, Volos Airport airport to city taxi cost and 34% of non-executives in the first half of 2022, EIGE said.
Amid the caution, state-broadcaster CCTV announced further easing, with tourism and taxi online Delphi greece entertainment venues - including theatres, libraries, internet cafes and table game centres no longer requiring COVID tests and health codes.
BEIJING, Dec 9 (Reuters) - Judging by Friday's quiet streets in China's capital Beijing and the reluctance of some businesses to drop COVID curbs, enduring anxieties about the coronavirus are likely to hamper a speedy return to health for the world's second-largest economy.
Erdogan said Athens understood Ankara's message when Turkish officials have said "we may suddenly arrive one night" - a comment that Greek and taxi service Katigiorgis greece some other Western officials have condemned as a threat to a neighbouring state.
Yet China has been anything but placid during the past few weeks, with protests against COVID curbs in many cities that marked the biggest show of public discontent since President Xi Jinping came to power a decade ago.
Although the government on Wednesday loosened key parts of its strict "zero-COVID" policy that has kept the pandemic largely at bay for the past three years, many people appear wary of being too quick to shake off the shackles.
After the 27-nation bloc had to spend its way out of a COVID-19 recession and as another downturn looms with Russia's war in Ukraine worsening inflation, the challenge is keeping investment high and debt levels manageable.
Little more than a month after the National Health Commission stressed commitment to its strict virus containment policy, saying it was "putting people and lives first", authorities have changed tack and are now telling people they have less to fear.
On the Beijing subway, many seats were empty on Friday night during what should have been rush hour, even though the city this week scrapped the need to show negative tests taxi Pelion to airport price ride trains or enter offices.
The European Commission, the EU´s executive arm, said Wednesday that the new plans would give member states with serious debt issues far greater leeway in combining a commitment to longer-term debt reduction while not excessively burdening a stretched population over too short a time.
Gentiloni went close to saying as much Wednesday. The reduction of debt "was not successful because the rules became more and more unrealistic. And when you have unrealistic path, at the end you have no path."
German reaction was swift - and predictable. Finance Minister Christian Lindner said that "it is clear that any reform of the European fiscal rules must correspond to the core principle of ensuring financial stability."
In exchange, international creditors exacted what many Greeks still see as a pound of flesh: deep state spending and salary cuts, tax hikes, privatizations and Vergina escorted tours other sweeping reforms aimed at righting public finances.
In hindsight, even EU officials have acknowledged there was an excess of austerity over a short period after the 2008 financial crisis, compounded by the sovereign debt crisis in a half-dozen EU nations a few years later.
Investors stopped lending Greece money in 2010 after Athens acknowledged misreporting key budget data.
To keep the country afloat, its European partners and the International Monetary Fund approved three rescue loan programs lasting from 2010 through 2018 worth a total 290 billion euros ($293 billion).
During the debt crisis, taxi prices Delphi greece struggling nations from Greece to Portugal were barred from more conventional methods like massive borrowing to spend their way out of bad times and instead had to tighten their belts.
