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Muhammad Ali, Egypt's khedive, or viceroy, for most of the first half of the 19th century, and his near contemporary (and nominal sovereign), Sultan Mahmud II, are the names to remember here, and there were indeed many instances of popular opposition to what were depicted as godless innovations.
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The first was Nauru's nominal status as a "sovereign state".
O'Neill advocated the independence of Ireland from England though retaining nominal loyalty to the English sovereign, whereas his colleagues favoured a settlement providing for religious liberty and an Irish constitution under the English crown.
So what if there is sudden stop in lending to the sovereign, sufficient to raise nominal interest rates on government debt?
Most creditors have accepted a repayment at a lower nominal value (30%) of Argentina's sovereign debt, but NML Capital refused to participate in the debt restructuring offered by Argentina.
The official narrative was that they were there at the invitation of sovereign Iraqi governments, but those nominal governments were successively appointed, promoted or defined by the US and UK.
Indeed, in law-enforcement circles the Southern District is nicknamed the "sovereign district," because of its reputation for resisting direction, even from its nominal superiors, in Washington.
"And that has often led to tension with the Justice Department". Indeed, in law-enforcement circles the Southern District is nicknamed the "sovereign district," because of its reputation for resisting direction, even from its nominal superiors, in Washington.
C.E.B.S. will include a sovereign risk shock element, which is expected to see "haircuts" of about 40 percent on the nominal value of Greek bonds, for example.
At the sovereign level the same logic should apply to hopelessly bankrupt Greece: it needs a debt write-down.Second, nominal growth is essential to bring down the weight of debt.
Sovereign fun.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com