Deliberate spending cuts and tax rises aimed at shrinking a deficit. It is politically expensive, because those who lose benefits or pay more notice immediately.
「紧缩
| Move变动 | Where it appeared出现位置 | What it means这句话在说什么 |
|---|---|---|
| €54bn | France's risk premium overtakes Italy's as bond investors price a default 「紧缩 · 第 7 张术语卡 | Lecornu's €54 billion package freezes public-sector pay and most pensions — and two previous prime ministers were toppled by austerity budgets. 紧缩最难的地方是「时点错配」：削减的痛感当期就到，赤字改善却要几年后才看得见。所以市场更看重「可信度」而不是「规模」——一份随时可能被推翻的方案，数字再漂亮也不值钱。这也解释了为什么草案公布后利差反而走阔。 |