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It tried to stop the ECB becoming a lender of last resort and objected to the sharing of risk between the member countries, as it believed that would create moral hazard – countries would misbehave if they thought that others would help to foot the bill.
Similar(59)
In the past years we have experienced a huge demand from our students as well as academic and professional colleagues for an overview of studies of and experiences with resilience or vulnerability within a specific hazard, country, methodological or other context.
This and enhanced budgetary surveillance are required, it says, to minimise "moral hazard" among countries in financial distress.
By pursuing a weak-dollar policy, the Treasury has created a monetary hazard for countries that run a trade surplus with us and simply let the dollars (and Treasury paper) accumulate in their central banks.
The international community must continue to support hazard prone countries, which were affected by the 2004 Tsunami in strengthening an early warning culture.
Falls are a major public health hazard in countries with aging populations.
This study builds on a steadily increasing number of conceptual and empirical studies on risks triggered by extreme climatic events and assesses the local coping strategies for cyclone hazards in coastal Bangladesh, one of the poor and natural hazard-prone countries in the world.
According to the same study, by 2030 "up to 325 million extremely poor people will be living in the 49 most hazard-prone countries" in the world.
Operations in obscure or hazard-prone countries may provide little or no return on their own, but may also be where Citi provides the greatest value to multinationals, in that companies have few reputable alternatives when doing business in such places.
To face any natural hazard, a country needs a multidisciplinary approach and strong coordination among scientists, policymakers, and institutions.
Fiscal preparedness against natural disasters and risk-sensitive public investment planning are increasingly seen as important aspects of development in hazard-prone countries such as Cambodia.
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