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Systems that use such budgets are often referred to as closed-end systems as opposed to open-ended financing systems [ 23].
A real rescue for the euro would have to involve open-ended financing for fundamentally solvent governments subject to the risk of self-fulfilling panic, plus a much more expansionary monetary policy and, almost surely, a higher inflation target.
Once again the European Central Bank would have to choose whether to provide open-ended financing; if it were to say no, the euro as a whole would blow up.
Visible Measures, a third-party online media measurement solution for advertisers and publishers, has secured $7.7 million in an open-ended financing round, according to an SEC filing.
A home equity line of credit is a more open-ended financing arrangement that functions like a credit card, with a revolving balance and an overall credit limit.
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An inconclusive or open-ended ending?
Although the fund is open-ended and must be financed by taxpayers -- some of whom have written to the Department of Justice in recent weeks to caution against using the United States Treasury to enrich victims and their families -- neither Mr. Ashcroft nor Mr. Feinberg cited the interests of taxpayers today.
Researchers at the California universities were enthusiastic about the open-ended nature of the research financing, saying the institutes could aim for basic-science achievements comparable to those of Bell Laboratories in its glory days.
With no need to finance commissions, investment trusts have been able to undercut open-ended funds.
The problem with an open-ended system is, of course, that African governments have no incentive to look for other, better, ways of financing their development.
France and Belgium, both struggling to bring their finances into line with European Union standards at a time of economic stagnation, can ill afford an open-ended commitment to Dexia.
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