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After the colonies passed to the British crown, the old law underwent profound modifications, partly because of changed social and economic conditions and partly because of the incursion of rules and institutions derived from English common law.
In July the banks agreed to a 21 percent haircut on Greek debt but several finance ministers have argued that, because of changed market conditions, bank contributions need to be increased to hit that target.
In the words Jack Balkin, a Yale law professor: "It was stated in broad terms in order to prevent future majorities in Congress from repudiating the federal debt to gain political advantage, to seek political revenge or to try to disavow previous financial obligations because of changed policy priorities".
Their larger intention, Balkin wrote recently, was to prevent Congress from "repudiating the federal debt to gain political advantage, to seek political revenge, or to try to disavow previous financial obligations because of changed policy priorities" — a pretty good summary of what Republicans have been up to of late.
A producer of a movie acquired in turnaround who comes up with a new director, or star, or story line, or even a reduction in budget, must give the original studio another shot at making the movie because of changed elements, even if a new backer has entered the picture.
Their larger intention, Balkin wrote recently, was to prevent Congress from "repudiating the federal debt to gain political advantage, to seek political revenge, or to try to disavow previous financial obligations because of changed policy priorities"—a pretty good summary of what Republicans have been up to of late.
Similar(47)
Because of changes I wanted".
That was partly because of changes in exchange rates.
That's partly because of changes in the law.
The unpredictability is growing, both because of changes in the economy and changes in families.
"We wouldn't change our prices because of changes in the exchange rate," Mr. Sälzer said.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com