These conclusions weaken the efficiency explanation for the growing appeal of the "division-of-liability" principle within tort law and beyond.
Various expedients were tried, including — late in the game — creation of monetary base, which was advocated by a finance minister on the (very MMT) grounds that the division of government liabilities between currency and short-term bills made no difference.
He said a change of currency would cause "all sorts of problems" for the division of pension liabilities between Scotland and the rest of the UK.
The initial sin was the division of pension liabilities between the new company and government for its workforce at the time it became independent.
But a bitter divorce, with rows over the division of assets and liabilities, would make EU accession harder.
But in the U.S. there are different ways of handling the division of assets (and liabilities) upon divorce or legal separation.
"[There will be] uncertainty over issues ranging from the timelines for political and economic independence, resultant institutional frameworks, lender of last resort for Scotland, the division of assets and liabilities, fiscal impact and policies, and what currency choices Scotland will have available and choose," it wrote.
Jeff then says, "The most important and most difficult parts of any divorce are coming to an agreement on child custody, division of assets and liabilities and alimony payments (how much and for how long)." Very true, which is why it makes no sense to escalate the conflict, increase the distrust, and entrench people in their positions by unnecessarily engaging in combat.
As long ago as August 2007 he was worried that all sorts of lousy investments were lurking in GE's opaque finance division, GE Capital, and that "a gathering storm of liabilities will swarm the parent company".
They included recommendations about the design of fiscal incentives, the establishment of regulatory frameworks, the clarification of liability issues and division of responsibilities between industry and national governments, the development of risk management strategies, and, as discussed above, the importance of gaining public support [26].
