Word: centralizes
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Dates: during 1990-1999
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...Alewife, Central Square, Cambridgeport and nearly everywhere in between, community leaders are voicing concerns with what they say is capricious and ill-planned development...
Agreement on the IMF's central role was the chief accomplishment of last week's Vancouver summit of the Asia-Pacific Economic Co-Operation forum. The U.S. had been trying to head off some efforts by Asian countries to set up a separate, regional body to handle the bailouts. Such a move, Washington feared, would have undermined the IMF, which over 50 years has built up the expertise--and, even more important, the credibility--to handle these complicated and politically sensitive operations. The salient point, said President Clinton, is that "on a global level, the role of the IMF remains...
...staff members constantly roam the globe, visiting countries and meeting with finance ministers and central-bank governors. "This is not ivory-tower analysis," says Shailendra Anjaria, director of the external-relations department at the IMF. "This is get-your-feet-wet, on-the-scene inspection." Because the IMF releases its funds in periodic amounts, it has a lever to keep countries in line. Says Deputy Treasury Secretary Lawrence Summers: "It's very important that we put out fires without giving people an incentive to leave matches around the next time...
...central assumption was that both the Democrats and Labour must shed their image of big-spending liberalism. "Center-left parties today should be the parties of fiscal prudence," says Blair. Each side worked on ideas for welfare-to-work programs, tough anticrime measures, national standards for education and a commitment to free trade. They also discussed a philosophy of community that tempered the coldness of capitalism as well as the need to promote a civic society where individual rights carry social responsibilities. The alliance harks back to the conservative one shared by Margaret Thatcher and Ronald Reagan. But Clinton...
...replace their local money with one currency--the euro. This monetary union, which is to begin Jan. 1, 1999, will be the most important event to occur in the international financial system since the collapse of the fixed-exchange-rate system in the early 1970s. An independent Pan-European central bank will determine how much money to create and will set a single short-term interest rate for all member countries. But an interest rate that curbs inflation won't do much to create jobs during the highest European unemployment since World War II. If confidence in the single currency...