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It's impossible to predict liquidity needs perfectly, but modeling helps avoid crises".
It's worth pointing out that America did not avoid crises over those 70 years by consistently using monetary policy to lean against any unusual credit growth.
They play offense, not defense, using their willpower in advance so that they avoid crises, conserve their energy and outsource as much self-control as they can.
The EU, prompted by Germany, in 1997 signed a "stability and growth pact" to impose fiscal discipline on member countries and to avoid crises.
The aim is to avoid crises: the patient being in terrible pain in the night, or the family becoming too tired to go on.
No one can agree on the underlying causes of this latest crisis, or on why the world managed to avoid crises in the postwar decades, or on what steps should be taken to make financial systems more secure.
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The early identification of carer needs and appropriate intervention can help avoid crisis situations for the carer and avoidable hospital admissions which are reported to be a global concern.
How do we avoid crisis management by introducing new models before the old model expires?
And an economy with its own currency and a persistent current-account surplus can flout every last bit of conventional debt wisdom and still avoid crisis.
Will Hutton said in these pages yesterday that one way Britain can avoid crisis in the future is to join the euro.
After years of "just-in-time" measures to avoid crisis within the eurozone, it is time to reflect on what kind of Europe we want for the future, and what arrangements will help fill the gap with citizens.
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