The feed to be listed was already removed.

First, the new bonds could be structured so that haircuts incurred by the banks count as tax losses, reducing the hit to their profits.

The eurozone urgently needs a crisis mechanism with automatic haircuts for cases of impending insolvency.

Thus, they form a key part of the group s detailed proposal for a rescue mechanism that could serve as a blueprint for a new European financial governance system (see http www.cesifo group.de DocDL eeag_report_chap2_2011.pdf).

But haircuts in the case of a solvency crisis are indispensable for the stability of the European financial system itself.

A debt buyback is something of a Catch 22 to succeed in inducing a haircut, it needs to profit from the default fears that it intends to alleviate.

In fact, large depositors are not unlike senior bondholders, and the proposed haircut was a small but welcome step forward.

The crucial issue is the extent to which creditors will have to participate in rescue measures by accepting haircuts that is, partial losses on their claims.

If it is fully protected, as seems likely (the IMF always gets paid in full), then the haircut on private debt rises to an eye popping 90 .

There was no institutionalized write down of Latin American debt until five years after the crisis, when a haircut no longer threatened banks stability.

It observes that the regeneration fellings (300 hectares) in the Angeli area constitute 0.8 per cent and the thinning logging operations (200 hectares) constitute 0.5 per cent of the forest, administered by the Muotkatunturi Herdsmen's Committee.

Haircuts would contain this risk by encouraging closer alignment of each country s interest rate spread with its creditworthiness the essential tool by which markets impose discipline on debtors.

It is sometimes argued that automatic haircuts should not be part of the European rescue mechanism, given that even the International Monetary Fund often provided its help in previous sovereign debt crises without applying them.

Work? Work!

Oh, no, work, work...

That way, formal haircuts on the face value of debt can be avoided via new bonds that include only a maturity extension and an interest rate cap that is set below today s unsustainable market rates.

But a sovereign default would require a much larger bank bailout than in Greece, potentially leaving private debt almost worthless if official debt has seniority. Total haircuts don t happen historically except in the wake of communist takeovers but it is hard to imagine that private creditors won t suffer huge losses in net present value.

But the work. The work?

What to do! What to do! Why?

What to do?

(b) Labour rights the rights to and in work

The Plan of Action identifies methods of action.

Consultants Overtime and night differential

Overtime and night differential Grand total

You want to work? You want to work really, really, really hard?

Business is business, my dear.

Business is business.

Representatives of overly indebted countries, and of countries whose banks are strongly exposed as creditors, argue that haircuts would destabilize the European financial system, generating contagion effects tantamount to a second Lehman Brothers crisis.

Employers are responsible for security in work, the appropriateness of the tools for work and teaching each employee about work conditions.

(c) Workshops for job seekers

E. Overtime and night differential

the whole works, baby, the whole works.

A debt buyback is something of a Catch 22 to succeed in inducing a haircut, it needs to profit from the default fears that it intends to alleviate.

So I'm going to talk about work specifically, why people can't seem to get work done at work, which is a problem we all kind of have.

Employment equity and workplace diversity

Freedom of work and right to employment under equal conditions

Implementation of Affirmative Action in Employment

Rental of premises 162 500 162 500 127 300 35 200

Rental of premises 0.0 0.0 0.6 (0.6)

Leisure is non work for the sake of work.

Why go to work? Work is painful, it's monotonous, it's boring.

It's not because of the work I like this work.

Job

Tob

Seg