Word: systemic
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...Before the euro, a financial crisis in Europe went hand in hand with currency woes: a run on weaker currencies, heavy intervention by central banks and finally a collapse of the parity system. "I've lived through currency devaluations, and they are fraught with anxieties," says Hans Martens, chief executive of the European Policy Centre. "But the way the euro coped with the financial crisis was absolutely great. You have a big island of stability, with small nations protected when the big waves became rough...
...pence or two of parity with the pound. "The debate has changed from a total fantasy in the U.K.," says Jean Pisani-Ferry, director of Brussels-based think tank Bruegel. "The political obstacles still remain strong, but it has changed the perception of the U.K. as the perfect system...
...they're integrating [the iPhone app] with our central system," said Tom Black, Stanford's registrar, who noted that the team was held to the same level of scrutiny as an outside vendor. "Usually student apps aren't allowed to go anywhere near that. We're breaking some ground here...
...green, but if it ever elevates to yellow or red based on seismic readings, Lowenstern says, "Ultimately it's my responsibility to put out alerts. The National Park Service and local officials would be responsible for civil defense measures and evacuation plans. For now, life goes on. The system is generally automated, and a seismologist at the University of Utah is on call to make sure it's a real event should it be anything unusual...
...latter is crucial because the letters of credit that international trade relies on have all but dried up. Khalid Hashim, managing director of Precious Shipping in Bangkok, says government banking bailouts have overlooked the shipping industry's needs. "Trade finance is not getting enough attention within the banking system," Hashim says. "Governments don't recognize the danger signals coming up. It will take time to resolve...