Translation of "Adverse shock" in German

But the question of how adjustments would be made if part of the eurozone were hit by a strong adverse shock lingered.

In the current economic circumstances characterised by a large common adverse shock, where a significant number of countries face episodes of negative inflation rates, it seems warranted to exclude from the best performers those countries whose average inflation rate is distant from the euro area average inflation (0,3 % in March 2010) by a wide margin — in line with the precedent of the 2004 Convergence Report —, as these outliers cannot reasonably be judged as being best performers in terms of price stability and including them would severely affect the reference value and thus the fairness of the criterion.

In the early recovery phase, the private sector was therefore confronted with an adverse demand shock of 55 billion D-marks, which was, in absolute terms, a third as high as the overall increase in nominal GDP.

The first case is when there is a temporary adverse shock, e.g. a decrease in external demand, causing a decrease in income and therefore in consumption.

Thanks to limited FCY mismatches in the government and banking sectors, an adverse external liquidity shock would translate into currency depreciation and a potentially sharp economic slowdown à la 2008-09.

We also need to keep in mind that part of the oil price increase is due to strong global demand, which was not the case in the first and second oil shocks, but it remains true that the oil price increase constitutes an adverse supply shock for the euro area economy as a whole.

Inexpensive and effective mechanisms can be operated for assisting Member States hit by adverse economic developments (shock absorption) if they are explicitly designed for this purpose rather than being the automatic implicit consequence of much larger budgetary flows serving mainly other purposes as in existing unions.

Their energy exposure is worth by nearly $35 billion, and this move would be to reduce concentration risk should an adverse energy price shock happen again.

Is there a better way to respond to adverse shocks?

This makes economies more vulnerable to adverse shocks and can act as a drag on growth.

Several adverse shocks have hit the euro area economy.

Regulators now suppose that the European banking sector is resilient to adverse shocks.

High debt constitutes a vulnerability in that it amplifies the macro-financial implications of adverse shocks.

Stability Bonds would make the euro-area financial system more resilient to future adverse shocks and so reinforce financial stability.

The unfortunate combination of a series of mutually reinforcing adverse shocks certainly explains a considerable part of the deceleration in output growth.

There are many factors that can improve the resilience of the euro area economies to adverse shocks .

Looking further ahead , on the basis of the information available so far , HICP inflation is expected to fall below 2 % in the course of 2005 , provided no further adverse shocks occur .

Since 2000 , EU banks have been confronted by an extraordinary combination of adverse financial market shocks against the backdrop of a slow-down in the economy .

The negative shock adversely impacts the non-tradable sector, which is large (roughly two-thirds of an advanced economy) and wholly dependent on domestic demand.

While the future of oil prices is uncertain, the fate of countries that have treated adverse shocks as temporary and reversible, and were then proven wrong, has seldom been encouraging.

When some countries in the eurozone are hit by adverse demand shocks, the target determines the extent of painful wage and price deflation these countries must undergo to readjust.

Still, over the longer run, there is no guarantee that any central bank will be able to hold the line in the face of adverse shocks such as continuing slow productivity growth, high debt levels, and pressure to reduce inequality through government transfers.

For instance , structural rigidities in labour markets reduce the speed at which an economy adjusts to adverse shocks ( e.g. sudden economic slowdowns ) .

ECB Annual Report 2003 example , an overestimation of potential output growth or an underestimation of the probability of adverse shocks -- the sustainability of the external position may come under pressure in the medium to longer term and external vulnerabilities may increase .

Growth picked up to almost 3 % in 2007, increasingly driven by domestic demand and leaving Europe better placed to cope with adverse external shocks.

Nevertheless, economic reforms remain desirable from the point of view of improving the euro-area's performance, as they increase growth potential and strengthen resilience to possible adverse economic shocks.

General government debt has continued to decline gradually, but the decreasing trajectory is not robust enough given the possibility of adverse shocks.

This has prompted questions about the euro area’s economic resilience and more specifically about whether the euro area is more sensitive than other regions to adverse economic shocks, or whether its economic structures are less favourable to economic resurgence.