He internalized the lesson for future reference: "When faced with a collapsing economy, one should stop thinking of wealth in terms of money".
The EU, faced with a possible collapse of the treaty, yielded.CheerleadersIs the resulting compromise now toothless?
Faced with a near collapse they are far more likely to give banks' creditors a guarantee than to hurt them.What may be needed is a rejigging of banks' balance-sheets to try to contain this panic, with a clearer line between those who bear losses, including shareholders and junior creditors, and those, such as depositors, senior creditors and counterparties, who can be assured of business as usual.
It wasn't until the 1980's, when faced with a near collapse of the fishery, that we wised up to the real impact of human greed.
Back in July, faced with an imminent collapse in the banking system, he reluctantly signed on to a new bailout, worth close to a hundred billion dollars, that laid out a series of steps Greece has to take before the money is disbursed.
This time around, the army - faced with an apparent collapse of the state - is also more amenable to the idea of improving relations with India, but army chief Gen Pervez Kayani still baulks at the idea of Indian factories and investment taking root in Pakistan.
Right now our country is entangled in two bloody wars, faced with an economic collapse on par with The Great Depression, and represented by a fourth estate with a reputation as shaky as its bottom line.
Faced with a long-term collapse in the Lib Dem vote, which has ebbed away since Clegg went into coalition with David Cameron's Tories in 2010, they would not be attempting to win new seats.
Faced with a national nervous collapse, it seems unkind to wait.
Faced with a soaring yen and a collapse in the export market, Toyota is laying off 3,000 temporary workers and closing all 12 of its domestic plants for 11 days in February and March, reducing production by as many as 200,000 vehicles.
