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The choice Greeks face on Sunday might appear simple — between tightening our belts and remaining in the euro or leaving it and facing an economic meltdown.
Even as the Bush administration and federal regulators vacillated wildly over the last year between tightening, then loosening, the capital requirements on the two companies, they have had significant behind-the-scenes debates about the longer-term structure of the two institutions.
The euro was favoured, particularly by the French, as a way of constraining the power of the deutsche mark; 25 years of managing exchange rates (the EMS, ERM et al) had seen repeated humiliations for France, as governments were forced to choose between tightening monetary policy and embarrassing devaluations.
But what the point that's not talked about is there's a difference between tightening policy and raising rates.
A finite element analysis was performed in connection with an analytical fracture mechanics approach aiming to evaluate the relation between tightening force and fatigue crack propagation in connecting rod bolts.
As the days wear on, the debate seems to be shaping up as one between tightening up gun control vs. increasing services to the mentally ill and their families.
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Senator Schumer said the increase struck a balance between tightened security and the free flow of an estimated $1.4 billion in daily cross-border business between the two nations.
A simplified semi-analytical contact-friction approach is proposed to study the load transfer between tightened parallel steel wires, commonly used in suspension bridge main cables.
"This development raises the prospect that, over the next year, monetary policy will be trapped between the tightening needs of overheating countries and resistance to higher real rates from low-inflation ones," economists at Salomon Smith Barney said in a recent report.
Technology-driven productivity gains have suspended the old link between a tightening labor market and rising wage pressures.
What is even more concerning, Chovanec believes, is that the contrast between the tightening in the US and the easing elsewhere will cause capital inflows into the US, which causes the dollar value to increase and the US goods to lose competitiveness - what he deems a "headwind to US growth".
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