Word: systemic
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...foresee any negative impact on the Swiss banking industry as a whole," says Martin Naville, CEO of the Zurich-based Swiss-American Chamber of Commerce, an organization that helps Swiss companies in the U.S. and U.S. companies in Switzerland expand their businesses. "It's the cleanest system in the world, with strict laws on money laundering, terrorist finances, corruption and other illicit activities." (Read "The Scandal of Secret Swiss Bank Accounts...
...This imbalance has forced small-business owners to avail themselves of unusual lending schemes. In many regions, companies are forced to go around the traditional banking system altogether by borrowing from other businesspeople or even loan sharks. This sort of informal banking, which has a long history in China, has become more popular as the economy slows, says Du Xiaoshan, deputy director of Rural Development Institute at the Chinese Academy of Social Sciences. "It's hard for small and rural businesses to get bank loans, so there's generally more informal lending happening," says Du. (Read "The Argument Over China...
...heavy consequences of CSAT scores drive the Korean high school education system into a frenzy—one those creepy parents on CollegeConfidential.com can’t even touch. High school students almost all attend “cram school” classes, where they’re taught material expressly for the CSAT. Even more serious parents send their children to boarding cram schools, where they study for the test from 7a.m. until midnight, and are banned from watching videos, the Internet, and having boyfriends/girlfriends...
...members of the legal community have voiced concerns about the political intervention in France's independent justice system. That action provokes even more alarm given French President Nicolas Sarkozy's planned reforms to shift investigative control of criminal cases to state prosecutors - who, as political appointees, critics accuse, are more attentive to the interests of their governmental mentors than...
...sheep coming in from Britain. Peeved farmers in the provinces have also repeatedly dumped improbable volumes of animal merde in front of state buildings, and in 2000, environmental catastrophe was narrowly averted when industrial workers angry about a plant closure in northern France dumped sulphuric acid into a drainage system that feeds a major river. Not to be outdone, grape growers in southern France have even resorted to "wine terrorism...