Word: centralizes
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...coded language of central bankers that means inflation is a non-issue at the moment and that Europe's monetary czars are now focused on ensuring that there is enough liquidity in circulation to keep the economy moving. With prices for oil and other major commodities falling, Trichet predicts a sharp drop in the inflation rate to between 1.1% and 1.7% next year from 3.2% to 3.4% this year. "This is a very significant rejection of everything that they've said before," said Jörg Krämer, chief economist at Commerzbank. "There will be a further interest rate...
Maybe so. But given the much steeper cuts that other central banks are making, the ECB move still seems modest in the face of the economic erosion under way. The Bank of England cut its key rate by one percentage point to 2% today, while Sweden's central bank cut its key rate by 1.75 percentage points. The U.S. Federal Reserve's main lending rate now stands at 1%, the lowest level in five decades...
...political fallout has made this tragedy look more like Hurricane Katrina - a shock that exposes a nation's structural weaknesses. The most obvious problems were the inability of the central and state governments to anticipate the terrorist attack and to respond adequately once it had begun. Home Minister Shivraj Patil, in charge of internal security at the central government, was the first to resign. He has been under intense criticism for months, the pressure mounting with each new bombing elsewhere in the country. There have been at least 10 major blasts over the past 18 months, the most recent...
...many of India's other violent conflicts. Since the July 2006 bombing of a Mumbai commuter train, which killed 184 people, there have been nine other blasts in major Indian cities, killing 300 more. Naxalites, the Maoist insurgents who have made claims on a wide patch of central India, have clashed repeatedly with police and paramilitary forces, killing at least 175 this year, according to the South Asia Terrorism Portal. In Orissa, anti-Christian violence has claimed the lives of at least 50 people and turned thousands more into refugees. Officials and analysts are correct to call the Mumbai attack...
...locales are remote and most countries lack the technical capacity to run schemes on their own. Some places will be tempted to take shortcuts. "We have to make sure our standards are credible, and we're not just delivering money that ends up in the bank accounts of central governments," says nrdc's Schmidt. "We need to change behavior on the ground, not just tomorrow but for the long term...