And there is a slight downturn.

Now you see this slight downturn at very advanced ages.

The size of France s political crisis seems to be out of proportion with the country s real situation. To be sure, France has been severely hit by the global financial crisis and economic downturn.

As the United States is restoring full employment, the economic downturn is inevitable.

The downturn in national production is reflected in most sectors of the economy.

CAMBRIDGE In the early days of the global financial crisis, there was some optimism that developing countries would avoid the downturn that advanced industrial countries experienced. After all, this time it was not they that had engaged in financial excess, and their economic fundamentals looked strong.

Barcelona The financial crisis, credit crunch, and ensuing economic downturn have severely damaged the credibility of financial markets, institutions, and traders. More and more people are claiming that markets are characterized by irrationality, bubbles, fads, and frenzies, and that economic actors are driven by behavioral biases.

Government s mounting debts have been a response to the economic downturn, not its cause. What ought to have been hard wired into the EU s institutional structure was not permanent fiscal austerity, but tough financial regulation.

Despite the downturn, building industry continues to be a major employer in the Territory.

It would fall into arrears once again if there was a downturn in special projects.

All countries should attack the cause of that downturn in a spirit of global cooperation.

None of these risks implies that the monetary union will inevitably be a victim of this severe economic downturn. But the downturn will be a more severe test for the euro than any that it faced during its first ten years.

African countries that were locked out of international capital markets for most of the past five decades have largely been spared the twin woes of financial turmoil and economic downturn. The continent s economies experienced a slowdown, but not a recession.

It is held culpable for the near financial meltdown. But 30 years of hindsight enable us to judge which elements of the Thatcher revolution should be preserved, and which should be amended in the light of today s global economic downturn.

Today s financial turmoil and economic downturn are highlighting the EMU s advantages in several important ways. First, the euro has eliminated the possibility of exchange rate turbulence and speculative currency attacks that more vulnerable economies could have expected in the current turmoil.

The company said additional cuts would give the company the room needed to move through the market downturn.

Capital buffers to absorb losses during the downturn of the cycle can be more easily built during the upswing. Furthermore, by raising regulatory capital costs in boom times, some counterweight to the pro cyclical bias intrinsic to financial systems would be introduced.

BRUSSELS The euro is celebrating its tenth anniversary against the background of the most difficult economic climate since its birth. The financial storm that swept in from the United States, and the onset of a severe economic downturn, confronts Europe with unprecedented challenges.

BERKELEY The global financial crisis has breathed new life into hoary arguments about the euro s imminent demise. Such arguments often invoke Milton Friedman, who warned in 1998 that Europe s commitment to the euro would be tested by the first serious economic downturn.

Again, catastrophic terrorism on one side of the globe, for example an attack against a major financial centre in a rich country, could affect the development prospects of millions on the other by causing a major economic downturn and plunging millions into poverty.

That very human lesson, more than 20 years ago, served me well during the last economic downturn we had.

The right, for its part, must rethink its obsession with temporary tax cuts for households or businesses. The impact of such cuts on aggregate demand is almost always modest, and they are poorly suited for shifting expectations for recovery and growth in the post financial crisis downturn.

It seems most likely, but no one really knows. The financial crisis, morphing quickly into a global economic downturn, resulted not just from a failure to react to growing instability, risk, and imbalance, but also from a widespread pre crisis inability to see the rising systemic risk.

What neither Friedman nor anyone else anticipated in 1998 was that the first serious downturn following the advent of the euro would coincide with the mother of all financial crises. Runs by panicked investors have required central banks to undertake unprecedented lender of last resort operations.

In that connection, the current downturn in the percentage of GNP allocated to official development assistance was a continuing cause for concern.

Most tellingly, during the financial crisis of 1997, it did not adopt IMF policies and as a result had the shortest and shallowest downturn of any of the afflicted countries. When it re emerged, it was not burdened with debt and bankrupt firms like so many of its neighbors.

In the last three years, I've traveled to 45 different countries, working with schools and companies in the midst of an economic downturn.

During 2002 2003, forms of state support were affected by a series of budget cutbacks leading to a downturn in the nation's economy.

However, the downturn in the sector is mainly attributable to a fall in the number of Japanese tourists, the mainstay of the industry.

22. This process had begun to reverse itself as early as 1993 and was accelerated by the downturn in the level of activity.

Then came the debt crisis of the 1980 s, the extreme nbsp structural reforms and financial collapses of the 1990 s, and a new global downturn in 2001. Such traumatic events plunged these countries into the so called middle income trap unable to grow nor to continue broadening their middle classes.

Then came the debt crisis of the 1980 s, the extreme structural reforms and financial collapses of the 1990 s, and a new global downturn in 2001. Such traumatic events plunged these countries into the so called middle income trap unable to grow nor to continue broadening their middle classes.

The sheer size of these remittances, and their importance in keeping many millions of people above the poverty line, suggests that rich country governments should take a careful look at the existing system. An improved system could help alleviate the burden imposed on innocent victims of the financial and economic downturn.

Most major countries fiscal deficits nowadays reflect the recent collapse of tax revenues that followed the growth downturn, as well as very costly financial sector bailouts. And yet many policymakers are insisting on immediate action to rectify not only fiscal deficits, but also trade imbalances and banks balance sheet weaknesses.

WASHINGTON, DC For the third time in five years, the world s poorest countries are at risk of being hit by a crisis not of their making a prospective downturn brought on by financial turmoil in the world s most advanced economies. Having gone through the food and fuel shock of 2007 2008 and the global financial crisis that followed, low income countries may now face even larger disruptions in 2012.

By 2008, they were in a strong enough position to respond to the financial crisis by allowing larger budget deficits and thus mitigating the downturn in 2009. Chile was the star reformer, but other countries including Botswana, China, Costa Rica, Malaysia, the Philippines, and South Korea also avoided pro cyclical fiscal policies.

LONDON One question has dominated the International Monetary Fund s annual meeting this year in Peru Will China s economic downturn trigger a new financial crisis just as the world is putting the last one to bed? But the assumption underlying that question that China is now the global economy s weakest link is highly suspect.

The eight new CEE member countries of the European Union (EU) the group mostly affected by the downturn in 2003 experienced the most vigorous increase.

August 12 report on Cankaoxiaoxi website Japan's largest oil company JX Energy believes that China's export expansion is one of the reasons for the market downturn.

China s real estate price bubble is often named as a likely catalyst for a crisis. But how such a downturn would unfold is far from certain.

The current downturn, already a half decade long, will not end any time soon. That, in a nutshell, is what the Fed and the ECB are saying.

This sharp balance sheet improvement has been instrumental in enabling emerging countries to bounce back strongly from the 2008 2009 global financial crisis, whereas the West continues to hobble along. Indeed, until the recent renewed downturn in America and Europe, the emerging world s major policy concern was too much growth, mounting inflationary pressure, and economic overheating.

For individual institutions, this was not seen as a problem, because they were protected by the logic of being too big to fail. When the crisis erupted owing to a downturn in the US housing market that was clearly foreseeable but willfully unforeseen the public sector had to absorb the contingent liabilities built up in the financial system.

These tasks call for largesse, both financial and otherwise (opportunities to travel, for example, were of vital importance in locking in the democratic aspirations of East Europeans after 1989), and they require decades, not years, of persistence. In other words, success will be expensive very expensive which will be anything but popular in the current economic downturn.

The Monitoring Group believes that the effect of this action is a noticeable downturn in arms shipments reaching BAM and of sales to key opposition members buying there.