For example, an agency reduced its rating for Greece just after the first deficit adjustment measures by over 4% of gross domestic product, indicating that, although the measures taken were adequate, the adjustment depended on the reaction of the market.
Further, the currency-GDP ratio in the UK remained in a narrow range of 2.3–3.1 per cent during 2001–10 whereas Japan registered a rise from 14.7 per cent to 18.1 per cent over the same period.