Increased fiscal and monetary discipline was imposed to curb inflation and to focus on priorities.

They also had no alternative to Mr Gaidar's policies of tight monetary discipline.

In addition, the current government has struggled to achieve the monetary and fiscal discipline to ensure both redistribution of wealth and economic growth.

And each central bank, including the Fed, was tugged along the path of monetary discipline by its neighbors.

This would render the target for growth of Money Supply short lived and would dilute further any monetary discipline they wished to achieve.

Germany has long had the region's strongest economy and currency and, in the 1980's at least, its monetary discipline proved to be a stabilizing influence.

Without monetary discipline there will be no reliable price system and economic reform will fail.

One definition of monetary discipline is a central bank matching the money supply to the level of production or reserves in an economy.

Another way of achieving monetary discipline is by keeping a pegged exchange rate, thereby matching a money supply to a foreign currency.

Argentina has won repeated votes of confidence from orthodox economists for its monetary discipline, rigorous bank supervision and investor-friendly policies it began in 1991.