Traduction de «Manche de variation cyclique » (Français → Anglais) :

3. Taking into account that the monetary stimulus given in recent years is gradually being withdrawn; calls on the Commission to adhere to a strict interpretation of the renewed Stability and Growth Pact and on Member States to pursue an annual improvement in their cyclically adjusted budget deficits of 0,5% of GDP as a benchmark, which will help to dampen inflationary pressures and keep interest rates down at levels that do not endanger the current economic recovery; recalls in this context the added value of better fiscal, especially budgetary, coordination among Mem ...[+++]ber States towards a more coherent macro-economic policy balance, as compared to the well-developed monetary policy of the EMU;

9. Calls on the Commission to adhere to a strict interpretation of the renewed Stability and Growth Pact, not allowing the use of temporary measures or creative accounting; urges Member States to foster competitiveness and to pursue an annual improvement in their cyclically adjusted budget deficits and to ensure higher adjustment efforts in economically prosperous times; believes that wage increases should be consistent with the trend in productivity over the medium term; calls for a moderate and responsible pricing policy, in particular in cases of monopolistic or oligopolistic markets, which dampens inflationary pressures and keeps ...[+++]interest rates down at levels that do not endanger the current economic recovery;

9. Calls on the Commission to adhere to a strict interpretation of the renewed Stability and Growth Pact, not allowing the use of temporary measures or creative accounting; urges Member States to foster competitiveness and to pursue an annual improvement in their cyclically adjusted budget deficits and to ensure higher adjustment efforts in economically prosperous times; believes that wage increases should be consistent with the trend in productivity over the medium term; calls for a moderate and responsible pricing policy, in particular in cases of monopolistic or oligopolistic markets, which dampens inflationary pressures and keeps ...[+++]interest rates down at levels that do not endanger the current economic recovery;

On top of that, if there were some kind of a structural issue, beyond cyclical variation, and it could be determined or proven that there was really a competitiveness issue, it would be a much simpler formula to adjust.

More extensive privatisation of public enterprises could make a useful contribution in this context; the Commission estimates that the structural (cyclically adjusted) deficit corresponding to the deficit target of 0.8% of GDP in 2001 should be sufficient to provide a safety margin for the Greek economy to remain within the Treaty reference value of 3% of GDP, while allowing for normal cyclical variations; structural reform is ...[+++]needed in order to improve the efficiency of the Greek economy, particularly in its large public sector.

Describing British Columbia as “Canada’s Pacific region,” the proposal claimed that there had long existed a unique pacific economy, characterized by growing size and significance in Canada, and a distinctive geography, economic base, trade patterns, and unusually wide cyclical swings between high and low rates of unemployment.