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While the world currently lives in an asymmetric regime, which lead to what has been defined as a "balance of financial terror", Keynes tried to achieve a more peaceful type of "international balance".
For the past two years Greece and its donors have held each other in a balance of financial terror, each fearing the meltdown that would follow a Greek default and departure from the euro.
In 2004, the level was 60-70%.This explains the popular argument that the yield on America's Treasury bonds is determined in Beijing and that America is locked in a "balance of financial terror" with communist China.
(Even so, China's ability to use its dollars as a weapon is often overstated, because its holdings are so large that causing a run on the dollar would also devalue China's fortune — something that it can ill afford — and undermine some of its best customers. The result is a deadlock that Larry Summers has called the "balance of financial terror").
(Even so, China's ability to use its dollars as a weapon is often overstated, because its holdings are so large that causing a run on the dollar would also devalue China's fortune something that it can ill afford and undermine some of its best customers. The result is a deadlock that Larry Summers has called the "balance of financial terror").
The cap, at £35,000, is still a lot of money, and we're going to need to see an effective, affordable insurance system to help people meet that cost – but this ends some of the financial terror (and that's not too strong a word) facing tens of thousands of vulnerable people.
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At one recent lunch, my friends and I bemoaned what we had lost, comparing our pains and our financial terrors as middle-aged women (the humans least likely to be hired or valued).
Many have also been critical of the president's handling of Saudi Arabia, home to 15 of the 19 hijackers; despite Bush's setting goals in the so-called "financial war on terror," the Saudis failed to cooperate with American officials in hunting for the financial sources of terror.
We will also target the financial transactions of terror suspects operating in the UK.
The Bush Administration has chosen not to confront the Saudi leadership over its financial support of terror organizations and its refusal to help in the investigation.
The more sensitive areas involve intelligence gathering, the hunt for Qaeda cells overseas and efforts to drain the worldwide financial resources of terror groups.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com