Time to Nationalize Insolvent Banks

After the declaration, banks and many large industries were nationalised.

Now it wants to socialize not only government debt by introducing Eurobonds, but also banking debt by proclaiming a banking union.

David Mpanga, a Ugandan lawyer, called the plan socialisation of loss

She privatized the major government owned industries and sold government owned housing to tenants.

Mossadegh s sin was his plan to nationalize Iran s oil industry.

Addressing that flaw requires renationalization of banking, and breaking up the activities of large financial institutions.

Consequently, nationalization of the central bank became a major platform of the British or French left.

He became enormously popular in Iran after he nationalized Iran's petroleum industry and oil reserves.

History After World War II all tourist organizations were nationalized by the new communist government.

With the nationalization of America s two giant mortgage banks, Fannie Mae and Freddie Mac, following the nationalization earlier this year of Britain s Northern Rock, governments have started stepping in again to prevent market meltdowns.

Moreover, the crisis has so far not resulted in major nationalizations of private companies.

Socializing bank debt is both unjust and will result in a future misallocation of resources.

Since the 2008 financial crisis erupted, there has been something of a renationalization of financial behavior in Europe.

Thus, the important thing was not to nationalize the capital stock, but to socialize investment.

By nationalizing private debts, Europe is following the path of the 1980 s debt crisis in Latin America.

But Morales nationalization of Bolivia s oil and gas fields sent shock waves through the international community.

Many basic industries and foreign trade, as well as domestic wholesale trade, had been nationalized before the communists took power.

MUNICH In blatant violation of the Maastricht Treaty, the European Commission has come forward with one bailout plan after another for Europe s distressed economies. Now it wants to socialize not only government debt by introducing Eurobonds, but also banking debt by proclaiming a banking union.

Only the European Central Bank could implement true socialization of national debt in the eurozone.

The state still controls the economy as it sees fit, as the de facto renationalization of Yukos amply demonstrates.

History offers countless examples of the misallocation of resources that can result from socialization of bank debt.

Socializing public debt is already posing a risk to the still stable eurozone countries.

The company is the first multinational Egyptian corporation, and is one of the core Orascom Group companies.

Socializing losses while privatizing gains is more worrisome than the consequences of nationalizing banks.

In effect, Vneshtorgbank renationalized United Georgian Bank, but the new owner was the Russian state.

Nationalizing Fannie and Freddie, and using them to peg the price of mortgages, would have been the cleanest and easiest way to accomplish that.

In Japan, postal services that had been privatized are to be re nationalized, and the role of government finance is being strengthened.

Moreover, nationalizing banks would have required dismissing Wall Street captains and their boards for grossly mismanaging their firms.

The mortgage crisis and the credit crunch have led to bailouts for the banks and the nationalization of housing finance and insurance.

But the promise of a return to the status quo ante of risk free public debt is not compatible with the continuing limits on the socialization of national debt.

There is a danger that in the push to nationalize banks as a consequence of the financial crisis, governments will see it as their duty to implement strategies.

A financial crisis ends when the doubtful debt either has been socialized, or its valuation has stabilized, and it has migrated to investors who are solvent enough to bear the risk.

Over the last six years, the Putin administration has encouraged the nationalization and consolidation of private sector defense firms into large, vertically integrated, state controlled holdings.

Potential nationalization was based on the concept of dead land , i.e., property which has not been developed or on which obvious development cannot be seen.

The declaration was formulated following the nationalization of the Universal Company of the Suez Maritime Canal promulgated by President Nasser on 26 July 1956.

Some people would scream that this is tantamount to nationalization, but it is no more a nationalization that the US Chapter 11 bankruptcy process is.

Ordinance 83.127, enacted 5 June 1983, started the process of nationalization of all land not clearly the property of a documented owner, thus abolishing the traditional system of land tenure.

In times of crisis, however, Governments there were often forced to re nationalize many banks, followed by another round of privatization.

Limited capacity for debt socialization reflects the EU Treaty s no bailout clause, which bars outright mutualization at the eurozone level of (national) public debt.

This pattern can be only partly repeated in the eurozone, where both debt socialization and a return to normal risk assessment appear more difficult.

And the continuing travails of the Dutch banking system another bank was nationalized last month suggest that it is easy to fall into the gap between twin peaks.

Since George W. Bush showed the way towards bank nationalization, vast public spending, industrial bailouts, and budget deficits, the Socialists have been left without wiggle room.

Until the 1980s, many of Austria's largest industry firms were nationalised in recent years, however, privatisation has reduced state holdings to a level comparable to other European economies.

The university, integrated within the mosque as part of a mosque school since its inception, was nationalized and officially designated an independent university in 1961, following the Egyptian Revolution of 1952.