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The euro area crisis was caused by a sudden stop of the flow of foreign capital into countries that had substantial current account deficits and were dependent on foreign lending. The crisis was worsened by the inability of states to resort to devaluation (reductions in the value of the national currency) due to having the Euro as a shared ...
This action effectively terminated the Baltic states' membership, with the ILO considering this termination "definitive" in 1946. [25] Following the declarations of independence by the Baltic states in the northern spring of 1990, the ILO indicated that an admission process was required, although this was acknowledged as readmission. [145]
The Palace of Nations.The United Nations Office at Geneva (Switzerland) is the second most important UN centre, after the United Nations Headquarters.. While the Secretariat of the United Nations is headquartered in New York City, its many bodies, specialized agencies, and related organizations are headquartered in other parts of the world, particularly in Europe.
A devaluation could also result in an outflow of capital and economic instability. [2] In addition, a domestic devaluation merely shifts the economic problem to the country's major trading partners, which may take counter-measures to offset the impact on their economy arising out of a loss of trade income arising from the initial devaluation.
This has meant that the heads of wealthy regions such as Île-de-France or Rhône-Alpes can be high-profile positions. Proposals to give regions limited legislative autonomy have met with considerable resistance; others propose transferring certain powers from the departments to their respective regions, leaving the former with limited authority.
This is a list of the member states of the Organisation internationale de la Francophonie.These governments belong to an international organisation representing countries and regions where French is the first ("mother") or customary language, where a significant proportion of the population are francophones (French speakers) or where there is a notable affiliation with French culture.
Brazilian Finance Minister Guido Mantega, who made headlines when he raised the alarm about a currency war in September 2010. Currency war, also known as competitive devaluations, is a condition in international affairs where countries seek to gain a trade advantage over other countries by causing the exchange rate of their currency to fall in relation to other currencies.
The currency crisis continued after the devaluation of the United States dollar in 1934 and the ongoing devaluation of the British pound sterling. The gold bloc countries' export businesses found it difficult to maintain profitability and suffered from massive capital flight to the United States. Belgium and Luxembourg gave up the gold standard ...