Financial crisis Fiscal stimulus plans

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Presentation transcript:

Financial crisis Fiscal stimulus plans Bailouts of the financial sector Downward adjustments in social benefits Fiscal deficit Debt Less public revenue Decline in economic activity Decline in health status Lower productivity Downward adjustments in pensions Downward adjustments in health Increases in taxes, VAT Lower consumption Lower wages Higher unemployment Decline in disposable incomes Lower public investments http://www.social-protection.org/gimi/gess/RessourceDownload.action?ressource.ressourceId=43579 Figure 6.10 (Print)