  A nonsingular deflationary cosmology driven by adiabatic matter creation is
proposed. In this scenario there is no preinflationary stage as happens in
conventional inflationary models. Deflation starts from a de Sitter spacetime
characterized by an arbitrary time scale $H_{I}^{-1}$, which also pins down an
initial value for the temperature of the universe. The model evolves
continuously towards a slightly modified Friedman-Robertson-Walker universe.
The horizon and other well known problems of the standard model are then solved
but, unlike in microscopic models of inflation, there is no supercooling and
subsequent reheating. Entropy generation is concomitant with deflation and if
$H_{I}^{-1}$ is of the order of the Planck time, the present day value of the
radiation temperature is deduced. It is also shown that the ``age problem''
does not exist here. In particular, the theoretically favored FRW flat model is
old enough to agree with the observations even given the high values of $H_{o}$
suggested by recent measurements.
