Bankers say financial stringency constitutes a serious threat to the country.
For all the talk of fiscal stringency, tax rises and spending cuts are only beginning to bite.
“Reduction in the stringency of employment protection is needed and could be balanced by an increase in the extent of accrual-based severance payments,” it said.
The characteristics of the traditional warranties which are regarded as the "trump card" of the insurer are the stringency of performance and rigidity of breach of warranties.
Further attempts at fiscal stringency may hack away at other support programmes, including food stamps and Medicaid, a health-care entitlement for the poor.
