1.   But the worry is that these gains have combined with a lax monetary policy to encourage speculative excesses.

2.   European Union finance ministers met to move ahead with plans for a common currency as Germany continued to lobby for heavy penalties on countries with lax fiscal policies.

3.   His critics argue this is an illustration of his lax policies.

4.   One country running a lax fiscal policy is one thing.

5.   Polls show a majority of Germans resist the move, for fear lax fiscal policies elsewhere in the currency union would weaken the new unit.

6.   There also was disappointment at lack of progress in nailing down details of the stability pact designed by Waigel to prevent Emu members following lax budgetary policies.

7.   Waigel proposed a plan that involves fines for countries that pursue lax fiscal policies after joining monetary union.

8.   An international investment house has predicted that the local economy would be in a brink of breakdown in the next months unless lax economic policies are tightened.

9.   Congressional Republicans have long criticized the Clinton administration for what they believe would be a lax policy anti-drug policy without their influence.

10.   However, better cooperation has been noted between Western European nations and those such as Thailand and The Philippines which have been notorious for lax policies.