That decision leaves the Government little room to keep on financing deficits from reserves.

With the accumulation of private capital in the Renaissance, states developed methods of financing deficits without debasing their coin.

Congress would like nothing more than to find a way to justify reductions in the cost-of-living allowance to solve the eventual Social Security financing deficit.

Manifestations of this would include responsibility for financing deficits, entitlements to surpluses and guarantees of, or 'moral responsibility' for debt.

The International Monetary Fund has therefore informed us of the short-term financial requirements, and of the need for increased contributions by the various donors to cover the foreign financing deficit for the years 2001 and 2002.