Examine the new policies proposed to solve the financial and sovereign Essay

Examine the new policies proposed to solve the financial and sovereign debt crisis in Europe. Your report should include a brief - Essay Example Understanding complex economic relationship in layman’s view point will be the crux of this essay. In the third part, the study will analyze proposed solution for resolving sovereign debt crisis in terms of advantages and disadvantages for countries with high credit ratings. In the last section, the essay will summarize the personal view of the researcher on sovereign debt crisis. Table of Contents Table of Contents 3 Introduction 4 Sovereign Debt Crisis 4 Banking System and Sovereign Debt Crisis 5 Analysis of Proposed Solution for Solving Sovereign Debt Crisis 9 Reference 11 Appendices 13 Introduction The essay will try to shed some light on new policies which are being proposed to solve the financial and sovereign debt crisis in Europe. The essay will try to analyze these policies in terms of their capability of resolving sovereign debt crisis. Aim of this report to analyze real underlying problems related to sovereign debt crisis. Organisation for Economic Co-operation and Development (2011) has reported that European banking sector failure and sovereign debt crisis is correlated; hence the study has the scope to analyze issues related to sovereign debt crisis on the ground of banking sector failure in Europe. Sovereign Debt Crisis Research scholars such as Barr (2010) have stated that sovereign debt crisis started during 2009 in Portugal, Ireland, Italy, Greece and Spain or PIIGS economies. Boyes (2009) and Gross (2009) have stated that fiscal deficit of PIIGS economies was increased during 2009 as a result of sovereign debt crisis. Papadimas and Graham (2010) have stated that sovereign debt crisis was triggered due to high borrowing costs for Euro zone countries. Lynn (2010) has defined sovereign debt crisis as financial crisis which created problems for some European countries to re-finance or repay government debt without taking support from third party. Generally, economic performance of European countries is determined by their ability to settle their external debt obligation, level of fiscal deficit of a country is determined by country’s sovereign debt default risk (Pescartori and Sy, 2004). In such situation, if a country fails to repay external borrowings from international market with the help of issuance of bonds then economic growth of that country is bound to get hampered. Banking System and Sovereign Debt Crisis Regulation Economists have stated that European banks underpriced the risks which have contributed significantly to sovereign debt crisis. Risk-weighted asset optimisation of banks nullified the significance of Tier 1 ratio which is amended by Basel rules. Prior to sovereign debt crisis, banks were allowed to use internal derivatives to decrease risk associated with assets but unfortunately majority of European banks failed control leverage risks which was associated with rise of funding problems. In Europe, many of the banks tried to form capital market banking system in order to decrease risk asso ciated with high leverage ratio (Mody (2009); Gerlach et al (2010); Goldman Sachs Global Economics, 2010; and CGFS-BIS,2011). For example, investors went for short and long credit in capital market which increased risk for banks. Lack of efficient regulatory framework not only increased risks for banks but leveraged risk for investors also. Multilayer Relation Mouchakkaa (2012), who is Executive Director of Morgan Stanley Investment Management, has pointed out that â€Å"

All Quiet on the Western Front Essay Example | Topics and Well Written Essays - 750 words

All Quiet on the Western Front - Essay Example This movie managed to recreate the horrors of war on the screen, with an intensity that was not only gripping and awe-inspiring in those times but has conclusively sustained its relevance and appeal, even today. Lewis Milestone, with an essentially cinematic panache and finesse, managed to unravel the conflict inherent between the youthful yearning for fame and heroism and the frustrating violence and irony that waited for a group of greenhorns who trudged their way to the battlefield, enveloped in an aura of grandeur and great expectations. The theme and cinematographic techniques exploited in the movie were to set the pace for the future war movies. â€Å"All Quiet on the Western Front† unraveled the basic accouterments of modern warfare, be it gut wrenching hunger and maddening insecurity, disturbing bloodshed and the pain of losing friends, the essential trauma that accompanies an unromantic death, with an intensity that is gripping and unsettling at the same time. Even today, the primary misconception that is the bane of Hollywood war movies is the unrelenting belief that a war movie to be successful has to inevitably rely on the grandeur and mammoth scale of the battle sequences, pepped up by a generous usage of war machinery, fanfare, and special effects. Milestone shattered such notions of magnanimity by letting this movie evolve beyond a spectacular dependence on costly and elaborate battle scenes, to penetrate deep into the recesses of the human psyche that are inherently averse to violence and bloodshed.... nanimity by letting this movie evolve beyond a spectacular dependence on costly and elaborate battle scenes, to penetrate deep into the recesses of human psyche that are inherently averse to violence and bloodshed. The movie is effectively and genuinely interspersed with intense and isolated scenes, which crystallize the actors' sense of fear, guilt and apprehension in an individualistic yet interrelated moment of time, highlighted by an apt usage of montage sequencing, parallel editing and high key lighting. One such awesome scene is the moment when Paul, while searching for safety and security in the trenches had to kill an enemy soldier, in an instinctive and desperate pursuit for survival. The cinematographer deftly managed to catch the trauma and guilt that takeover Paul, as he helplessly watched the prolonged and slow death of an enemy. Not only this, but the director was skillfully able to sustain Paul's disillusionment, guilt and agony for quiet a long time, accentuating its scope with just the right blend of lighting, sound and acting, which bring forth an enervating sense of claustrophobia laced with apprehension that defined the life in the trenches. This scene happened to be one amongst many such scenes that made this movie an everlasting success. The essential challenge before any anti-war movie is to build on the ubiquity and irrationality of war, which is inherently an anti-hero theme. The director is required to sustain and build upon the meaninglessness and futility of violence up to the level where all perceptions pertaining to the well-defined antagonists and protagonists melt and evaporate, making way for the inevitability of death that does not differentiate between a friend and a foe. The movie under consideration qualifies to be an all-time