Periphery in sentence

495 examples of Periphery in a sentence

The periphery needs to recover competitiveness, and some have taken heart from the Mediterranean countries’ shrinking trade deficits – the structural trade imbalances within the eurozone are correcting themselves, they say.

Instead of joining the highly regulated and integrated Franco-German core of Europe, they can remain part of the flexible, diverse and deregulated periphery to which historically and geographically they have always belonged.

It has broadly ensured global peace, although at the cost of shifting many conflicts to the periphery.

The difficulty in transferring knowledge and new technologies from the center to the periphery, for example, widens economic disparity and subjugates some countries to a new form of colonialism.

Until a few months ago, the prevailing narrative was that the economic crisis was over, even for the hard-hit countries of the eurozone’s periphery.

Moreover, the countries on Europe’s periphery remain in difficulty, as doubts about the sustainability of adjustment programs have resurfaced.

Even the periphery of the eurozone is benefiting from the wall of liquidity unleashed by the Fed, the Bank of Japan, and other major central banks.

First, though the German economy and its surplus loom large in the context of Europe, an adjustment by Germany alone would benefit the eurozone periphery rather little.

The second big global risk comes from Europe, where Germany’s strong performance is coinciding with a debt crisis on the European Union’s periphery.

The ECB’s Moment of DecisionLONDON – With the crisis of the eurozone’s periphery having mutated into a crisis of its core, the prescriptions for recovery must change.

Lost competitiveness in the periphery was, in part, an equilibrating movement caused directly by the economic-adjustment process under a common monetary policy.

Recently I traveled in distant regions of Russia, where I grasped the enormous disconnect between the center (Moscow) and Russia’s periphery, between rulers and ruled.

But, though the Syriza party’s victory sent Greek equities and bonds plummeting, there is little sign of contagion to other distressed countries on the eurozone periphery.

Some eurozone policymakers seem to be confident that a Greek exit from the euro, hard or soft, will no longer pose a threat to the other periphery countries.

Furthermore, the rally in periphery markets has acted as a fig leaf, obscuring policymakers’ failure to examine the eurozone’s structure and membership.

This lackluster performance, which followed years of decline in market shares, is difficult to explain, given that all other countries on the eurozone periphery recorded solid export growth.

But, in contrast to other economies on the eurozone periphery, this improvement was achieved entirely through import compression.

The resulting build-up of private and public debt in over-spending countries became unmanageable when housing bubbles burst (Ireland and Spain) and current-account deficits, fiscal gaps, or both became unsustainable throughout the eurozone's periphery.

Symmetrical reflation is the best option for restoring growth and competitiveness on the eurozone's periphery while undertaking necessary austerity measures and structural reforms.

This implies significant easing of monetary policy by the European Central Bank; provision of unlimited lender-of-last-resort support to illiquid but potentially solvent economies; a sharp depreciation of the euro, which would turn current-account deficits into surpluses; and fiscal stimulus in the core if the periphery is forced into austerity.

Unfortunately, Germany and the ECB oppose this option, owing to the prospect of a temporary dose of modestly higher inflation in the core relative to the periphery.

The bitter medicine that Germany and the ECB want to impose on the periphery – the second option – is recessionary deflation: fiscal austerity, structural reforms to boost productivity growth and reduce unit labor costs, and real depreciation via price adjustment, as opposed to nominal exchange-rate adjustment.

So, to prevent a spiral of ever-deepening recession, the periphery needs real depreciation to improve its external deficit.

In short, the eurozone's periphery is now subject to the paradox of thrift: increasing savings too much, too fast leads to renewed recession and makes debts even more unsustainable.

Avoiding it would compel the eurozone's core economies to embrace the fourth and final option: bribing the periphery to remain in a low-growth uncompetitive state.

Unless they abandon asymmetric adjustment (recessionary deflation), which concentrates all of the pain in the periphery, in favor of a more symmetrical approach (austerity and structural reforms on the periphery, combined with eurozone-wide reflation), the monetary union's slow-developing train wreck will accelerate as peripheral countries default and exit.

Since the end of the credit boom in 2008, cross-border claims of banks based in the eurozone core (essentially Germany and its smaller neighbors) toward the eurozone periphery have plummeted from about €1.6 trillion ($2.2 trillion) to less than half that amount.

Interest rates would then converge to a low level, fostering recovery in the periphery and making it easier to stabilize public finances.

Thus, capital flows from the core to the periphery would continue to exceed the optimal amount, undermining growth for Europe as a whole.

Until now, the Fund has sycophantically supported each new European initiative to rescue the over-indebted eurozone periphery, committing more than $100 billion to Greece, Portugal, and Ireland so far.

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