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Norman Flynn

Schröder Government (1998–2002) reversed some of the cuts in pensions, sick pay and disability benefits that the Kohl government had implemented. It also tried to make some cuts of its own, most notably in the replacement rate of the standard public pension, from 70 per cent to M1738 - CALLAGHAN TEXT.indd 31 3/8/09 12:13:31 32 Social democracy in crisis 64 per cent by 2030. At the beginning of its second term the government introduced the first of the so-called Hartz reforms to the labour market. Peter Hartz, personnel director of Volkswagen, chaired a commission to

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Annamaria Simonazzi

productivity has been ascribed to the insufficient flexibility and excessive protection of the labour market. This chapter also contrasts the short-term competitiveness effects of austerity/flexibility policies with the long-term efficiency effects deriving from a greater commitment of both the employer and the employed workforce. The view of social policy as a productive factor is embedded in the conviction that sustained growth and decent working conditions are the result of the interactions between macro-policies and labour outcomes, and great risks can spring from

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What matters is what works

The Third Way and the case of the Private Finance Initiative

Eric Shaw

In short, though there may be short-term benefits in relying on the PFI – a more rapid commitment of funds – within the time-span of the contract as a whole the NHS is binding itself to a sup-optimal allocation of resources. The PFI and the Third Way as operational code To some commentators, the Blair Government

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Oonagh McDonald

-broker-dealer companies operating on a global basis. (Indeed, they all owned broker-dealers, which were already supervised, as separate subsidiaries by the SEC.) Any one of these could become insolvent and so affect a broker-dealer's access to short-term funding, or the broker-dealer's capital might be diverted to prop up an ailing firm. The more sophisticated broker-dealers had already been pressing the SEC to allow them to use models to measure risk and compute capital levels along the lines of those being adopted by the more advanced banks under the (then) new capital adequacy

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From Hubris to Nemesis

January to September 2008

Oonagh McDonald

during the week beginning 10 March 2008: This was the first time that a major investment bank that was well-capitalized and fully liquid experienced a crisis of confidence that resulted in a loss not only of unsecured financing but also short-term financing. This occurred even though the collateral it was able to provide was high quality, such as agency securities and had a market value that exceeded the amount to be borrowed. 24 The impression

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Birgit Lang, Joy Damousi and Alison Lewis

the largest debt to Döblin is Günter Grass, winner of the 1999 Nobel Prize in Literature. In interviews, Grass repeatedly invoked Döblin as a forebear. However, Grass’s literary works are less influenced by Döblin’s experiments with empirical case writing and psychoanalysis than by his realism and irony. Instead, the literary case study derived from the courts and legal settings continues to find its more conventional home in contemporary crime fiction and the detective novel. Both have become transnational genres that occupy middlebrow and popular segments of the

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Core and periphery

The international system and the Middle East

Series:

Raymond Hinnebusch

crisis – particularly the expulsion of Palestinian, Jordanian and Yemeni workers from Kuwait and Saudi Arabia – showed that the rich states manipulated access to capital and jobs by other Arabs for their own political ends. They were seen to deliberately replace Arab workers, who they feared might have hidden political demands and some claim to a stake in the countries where they worked, with Asian workers who were sure to return home at the end of their short-term contracts. The massive inter-Arab inequalities generated by oil make extremely

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Jonathan Colman

3.6 to 3.8. Every time you go up a point it costs us many millions and our interest on our debt’s going to go way up … money’s going to get tighter and our prosperity’s going to dip and our tax money’s going to dip, our expenses going up … we got a real serious thing on our hands’. 34 That day Britain took a $3 billion short-term loan from, as Bruce noted in his diary, ‘European central banks, the United States, and

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S.J. Barnett

usually indicate influence. It may well be the case that Diderot had long held those opinions, formed by the experiences of his life, and this is a very different circumstance from influence. So what does ‘intellectual debt’ signify exactly? Most will agree, I feel, that this term connotes influence. Let us assume, then, that Diderot had long held the ideas expressed in the article, but upon writing the article he exemplified, sharpened and reinforced his arguments via the writings of past thinkers. If his long-held arguments also shifted a little in emphasis because of

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Oonagh McDonald

products. The financial crisis arising from Lehman's bankruptcy led to a significant decline in credit to the private sector, as well as to a sharp rise in interest rates. The failure of many US financial institutions led to the collapse of the equity markets in late 2008 and 2009, although the indices showed a recovery in 2010 as well as a slow down in international trade and industrial production. One of the main channels allowing the crisis to spread was the money markets. Following the bankruptcy, the short-term debt that Lehman had issued became