Word: functionalities
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...extent, a global role for the yuan appears inevitable. How widely a currency is used around the world is usually a function of how important its home country is to the global economy. During the 19th century, when the British Empire reigned supreme, the pound was the top international currency. Since World War II, that role has been played by the dollar, with the U.S. having by far the world's biggest economy. Now that China is rapidly charging up the list - it currently ranks third and could overtake Japan as No. 2 as soon as next year - there...
While the recession hasn't spared any age group, it's been particularly brutal for older Americans who were counting on their (now shrunken) nest eggs to last through their retirement years. To supplement their stash, an increasing number of seniors are turning to reverse mortgages, which function essentially as a cash advance on their home equity, repaid only when they sell their home or die. The loans are available to those 62 and over, and lenders have to eat the difference if a home ends up declining in value. In the three months after February--when a provision...
That question and its answer are exactly why France needs independent investigating magistrates, some French legal practitioners say. They point to the two terrorism cases as proof of the vital role of magistrates, who perform an evidence-collecting function that has been central to France's justice system for over 200 years. Sarkozy's proposed reforms will shift investigative power from independent magistrates to state prosecutors, who, critics of the reforms fear, might end up paying more attention to the political interests of leaders than to justice. That could result in French justice bending to the whims of politicians...
While tourists do come by the walls to stare inside, the place is not open for sightseeing. The compound has a more important function for the Iranian government. The regime's shock troops, the Iranian Revolutionary Guards Corps, referred to as Sepah in Farsi, use the main building - which resembles a high school gym in shape and size - to train its members. For the past month, they have participated in the government's brutal response to mass demonstrations by beating protesters in the streets with truncheons and overseeing the notorious Basij militia, a paramilitary group that has been accused...
Arguello's relationship with the Sandinistas also became strained, as Murillo appointed several yes-men to run the mayor's office. On several occasions, city council meetings were run by Arguello's handlers in his absence. His main function as mayor seemed to be to sit behind Ortega at Sandinista rallies and stand and wave to the crowd when announced by name...