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Contagion in sentence

364 examples of Contagion in a sentence

Contagion spread to Italy.
A Contagion of Bad IdeasNEW YORK – The Great Recession of 2008 has morphed into the North Atlantic Recession: it is mainly Europe and the United States, not the major emerging markets, that have become mired in slow growth and high unemployment.
There has been much concern about financial contagion between Europe and America.
But the real problem stems from another form of contagion: bad ideas move easily across borders, and misguided economic notions on both sides of the Atlantic have been reinforcing each other.
Globalization has also fueled contagion.
But volatility has risen, as has cross-market contagion.
The Greek and Irish bailouts are only temporary palliatives: they do nothing to curtail indebtedness, and they have not stopped contagion.
They also underestimated the risks of financial contagion and surges in migration flows.
With periodic bouts of contagion in the eurozone and residual uncertainty about America’s commitment to a strong dollar and fiscal discipline, major reserve holders in Asia and the Gulf need to become a stabilizing counterweight.
China moved to current-account convertibility in 1996, but retained a substantial number of controls on capital movements, which have served as a shield against financial contagion.
This would have addressed the contagion problem that was one basis for European officials’ resistance to a Greek debt restructuring.
Richard Cooper of Harvard University once observed that in the early days of international public health cooperation, the fight against global diseases was hampered by countries’ adherence to different models of contagion.
Those who claim that contagion from a Greek exit would drag others into the crisis are also in denial.
As Europe struggles to prevent financial contagion and America struggles to reduce its record deficits, their dangerous debt levels threaten future living standards and strain domestic and international political institutions.
And, like the economic contagion that has spread throughout Europe, these epidemics will have little respect for national borders.
The combination of bad politics and economics in one country can easily produce contagion, as rising migration spreads political stress and instability to other countries.
But, while it is clear that the euro area will have solid and well-equipped quarantine wards should it once again be afflicted by financial contagion, a vaccine to prevent the infection would be far more effective.
Ever since the beginning of the 1990s, when private credit to emerging markets soared to roughly ten times its annual average in 1970-89, the main source of financial contagion has not been moral hazard, but what might best be called globalization hazard.
If this were the whole story, then what lay at the root of financial contagion in emerging markets would be of secondary importance.
The Tequila crisis demonstrates that rapid multilateral action - in this case, a $50 billion package to refinance short-term debts at below-market rates - can also be effective in preventing the spread of contagion.
And it has the authority to bolster the ECB’s credibility and thus its efforts to ensure future price stability and prevent financial contagion.
Otherwise, one country’s restructuring will heighten expectations that others will follow, giving rise to contagion.
In the case of Greece, international bankers argued long and hard that debt restructuring would generate contagion far and wide within the eurozone – and perhaps more broadly.
But just when they were supposed to be reaping the benefits of their hard work, the East Asian crisis of July 1997 caused commodity prices to collapse, which forced Russia into default in August 1998 and shut down all emerging markets through financial contagion.
Consequently, the Fed left its interest rate unchanged throughout the summer of 2008, despite the collapse of mortgage giants Fannie Mae and Freddie Mac, the bankruptcy of Lehman Brothers, AIG’s insolvency, and the emergence of global financial-market contagion.
The ECB’s newfound ability to print money, essentially without limit, to support both banks and governments has reduced Greek contagion to insignificance.
Before the ECB’s decision, contagion from Greece was a genuine threat.
If the contagion from Greece intensified, the next-weakest country, probably Portugal, would find itself unable to support its banking system or pay its debts.
Before January, this sequence of events was quite likely, but the ECB’s bond-buying program put a firebreak at each point of the contagion process.
With powers to monetize government debts similar to those exercised by the US Federal Reserve, the Bank of Japan, and the Bank of England, the ECB can now guarantee the eurozone against financial contagion.
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