Banking System and Monetary Policy in Portugal report Essay

Banking System and Monetary Policy in Portugal report - Essay Example All of these threats pose serious challenges to the overall health of the Portuguese economy and hence corrective measures are needed to correct the flaws in the system and to make it more competitive and self-sustaining. The assessment of banking system shows that the procedure for borrowing money from banks is easier than other EU countries. As a result, the household debt is as large as 120% of the income. Unemployment trend in the Portuguese economy is also very alarming. It is growing exponentially and poses serious threats to the policy makers to devise strategies to curb this trend. Unemployment can be dangerous for any economy and Portuguese economy is no exception. Unemployment reduces the production potential of a country and results in less output being produced than what can be produced. This hampers the economic growth of an economy and leads government into paying unemployment benefits funds for which the government has to indulge in debt financing. Debt financing can b e very dangerous to an economy in the long-run. Current unemployment rate of Portugal stands at around 11%. (Lipsey and Chrystal, 2003) The fiscal situation of the Portuguese economy shows another flaw in the financial system of the country. Portugal is highly geared and has large levels of debt financing. In fact the debt financing ration has crossed the sixty percent of the GDP mark in the recent years. This makes the Portuguese economy more susceptible to international borrowing and aid which has negative effects in the long-run. According to the estimates published by Banco de Portugal and IMF, the current account position of the country is growing out of control. In the recent years, the current account deficit has widened to around 72% of the total trade carried out by the country. Portugal has been using Euro as its official currency since 1 January 1999. Before that the official currency of Portugal was Escudo. The reason why Portugal shifted to Euro was the weak position of its currency. It was weak and unstable making it very difficult to carryout international trade using Escudo as a â€Å"unit of account† and a base for setting of prices and settling of accounts. As a result, it was deemed that a country like Portugal moved to a more stable monetary base and system that would allow itself to carry out its international trade with traders not having to worry about the fluctuations in Escudo. European Central Bank is playing a vital role in maintain the economic stability throughout the Eurozone. ECB is also responsible for setting up the monetary policy of Portugal and other countries that use Euro as a base currency. Euro banknotes are also issued by ECB and only coins can be issued by the member states and that also only after the consent of ECB. (Eurostar, 2010) Portugal is an active trader in the international markets. It understands the importance of international trade and actively participates in international trade for the mutual bene fits of its importing and exporting partners. Its major imports include wine, fish, agricultural products, computers and heavy machinery. Similarly, Portugal mainly exports wood, copper, clothing and other important minerals. The most important trading partners of Portugal are Spain and Germany which have the highest percentage of trade of done with Portugal. The overall condition of

Police Training and Equipment during Budget Crisis Research Paper

Police Training and Equipment during Budget Crisis - Research Paper Example ions is that the existing police force is barely adequate to handle the volume of crimes andï€ ¬ thereforeï€ ¬ the menace of crime keeps increasingï€ ® This is especially so in the case of countries such as US and UKï€ ¬ which confront the threats of a large number of illegal immigrantsï€ ¬ criminal gangsï€ ¬ drug syndicatesï€ ¬ weapon smugglersï€ ¬ terrorists groups etcï€ ® These criminals, with their free availability of funding and other resources, operate with the help of modern technology and sophisticated gadgets. On the other hand, due to paucity of funds, the training and provision of equipment for police forces remain sidetracked on many occasions. Compromising on the training and equipment of the police forces can impact negatively on their performance and morale especially when they have to confront highly trained, motivated and well equipped criminals. Therefore, the budgetary constraints of government should not be taken as an excuse for cuttin g down on the cost of police training and provision of equipment. In order to analyze this issue, this study will evaluate the existing literature on the topic and data available on police budget and how budgetary cuts affect police training and provision of equipment. In the current scenarioï€ ¬ fighting terrorism is a most complex and challenging concern for the law enforcement agencies in USï€ ¬ as various terrorist organizations are being funded by foreign nations that have plenty of resourcesï€ ® Besidesï€ ¬ the members of such groupsï€ ¬ who are blind believers in religious faithï€ ¬ become committed followers that are ready to sacrifice their lives for the cause they believe inï€ ® They are also highly educatedï€ ¬ technology savvy and driven by fanatics to such an extent that they are prepared to go to any extend to unleash carnage in nations they believe are against the values they cherishï€ ® Therefore, in order to combat criminals of this kind, the police needs to be appropriately trained and well equipped. Ho wever,

Trends in the development of Intel after WW1 Assignment

Trends in the development of Intel after WW1 - Assignment Example In its replacement, he established a Central Intelligence Group to monitor his incoming cables, as well as supervise the duties that were being conducted by the disbanded OSS. The need to have a central intelligence agency led to the increase in missions and capabilities of the CIG. It is worth noting that most of the oversight was conducted by a committee known as the National Intelligence Authority which was made up Secretaries of War, Navy, and State, as well as the chief military adviser of the president. The National intelligence Authority played an integral role in ensuring that the unification process progressed on. Having thoughts of unifying the security system, the brains behind the National Security Act of 1947 strived to create National Security Council, a Secretary of Defense, a Central Intelligence Agency, and a constitutional Joint Chiefs of Staff that was bound by the principles of unity of intelligence, and unity of command. The Act guaranteed that statutory Joint Chiefs of Staff would not use the Prussian-style of leadership by creating an independent air force, and insisting that the CIA should not have law enforcement mandate. Additionally, the Act also dictated that the several divisions of intelligence within civilian departments and the armed forces would remain autonomous to the CIA. The fact that the Directors of the Central Intelligence could not have the full measure of authority to execute their duties has frustrated several of them; thus, leading to several reforms aimed at increasing their powers. These reforms have consistently been pushed forward by the National Security Council; however, they have faced several obstacles. In conclusion, there are several reforms aimed at improving the national intelligence; however, they face challenges since there are senior most people in the security docket who have specific changes that they cannot tolerate. This has led to the production of veto to any

Environmental Values Essay Example | Topics and Well Written Essays - 1000 words

Environmental Values - Essay Example in 1974 drew inspiration from the feminist movements in which feminist activists rebelled against the traditional oppression of women by domineering men. In many countries, even developed countries, women are the weaker gender and without voice and are forced to accept the exploitation by men. Ecofeminism attempts to relate these events to the fact that nature and environment is exploited by men in the same way and nature attempts to meekly accept this racism, species segregation and exploitation. To a certain extent the main complaints and philosophy of the movement is indeed true and the arguments put forth by the movement is relevant. Man is the traditional defiler of all things and it is true that the major corporate positions in the world and in trade and industrial bodies are filled with men. Therefore, it would be men who constantly attempt to find new ways to exploit powerless nature, which cannot speak aloud. Later arguments of the Ecofeminism are at fault and their views on technology are not acceptable to me. It must be noted that when man does exploit forests and pollutes the waters, the beneficiaries are also women who make up the wives, daughters, sisters, mothers and other relatives of men. By tacitly accepting the cutting down of forests and gathering wood for firewood, women are also equally responsible for this defilement. Ecofeminism concepts also want to do away with technology and move towards primitivism where small communities would grow food in the natural way. This is not possible in the modern age as we need technology to produce food for the billions of people and both men and women have to find jobs and earn a living. So this philosophy is not acceptable. Schlosberg (1999) argues Pluralism or more specifically environmental pluralism places the right to exist for all things in nature, man, animals, plants and other inanimate entities such as water, air and earth that makes the environment. Then comes the concept of cost benefit

Work Based Learning in the Creative and Cultural Industries Assignment

Work Based Learning in the Creative and Cultural Industries - Assignment Example As the paper declares the concept of the employer caring for the employee through symbolic means is not only cultural significant because of the interactions that take place on several levels. More importantly, there is an association with the cultural expectations that come into the work organization. From the report findings mass culture is developed through commercialization and the expectations that are a part of the culture that is created. From the mass culture, there is a development of specific attitudes and understandings that relate to the overall values of society. The idea of culture is one that is not only based on movements and expressions, but instead is significant of different industries and the commercialization that is included in culture. It is not only the cultural expectations that have developed the responses to the swine flu and the organizational environment that responds to this. The knowledge that is depicted with the swine flu, health issues and expectations from the work place come specifically from the media and the regulations that are a part of this. When the media presents specific information to the public, it is required to first find imperative information that makes a difference in the knowledge that the mass culture is given. The impact that th is has is one that directly affects the mass public and can create controversy as well as alternative expectations that can be held in different arenas of life.

Taking a Stand Essay Example | Topics and Well Written Essays - 500 words

Taking a Stand - Essay Example This is subsequently presented to masses by professionals rather than academics while focusing on the economic effects (Minogue). Minogue named this new specie as the for-profit universities and educational institutes. However, the practice of for-profit education was first criticized by Plato and Aristotle in ancient Greece. Fee-based education was actually an idea presented by Sophists who were immigrant professional teachers in Athens. They started offering higher education services in return of some fees. Researchers argue that three prominent Sophists including Hippias, Protagoras and Isocrates had a clear idea about competition. Since their approach was significantly innovative therefore they faced immense criticism from Plato and his student Aristotle. Both of them argued that such educational activities which are based upon earning profit and commercialization will have negative impact on the Greek society (Stabile). Plato in particular was against the for-profit education because he believed that there is absolutely no connection between truth and profit, money and education. Moreover, Plato viewed profit based teachings as predicted on an extreme pride regarding what represents knowledge. Plato also argued that for-profit education gives rise to false class divisions depending upon the odd stru ctures which have value but no truth (Bartlett). Aristotle focused more towards the liberal education which actually reflects the basic conditions and assumptions of the Athenian society. Here, liberal was used in two different meanings. Firstly, education should not be aimed at generating profits neither it should be expressed in form of end-utility. Secondly, liberal education means a balance between moral and intellectual excellence (Yu). He rejected the idea of fee-based education in the same way as his teacher Plato did. Contrary to this, Sophists used to charge fees for

Nuclear Weapon and Cold War Essay Example | Topics and Well Written Essays - 2500 words

Nuclear Weapon and Cold War - Essay Example The debate on nuclear policy has addressed the deterrence of aggressive nations and the proliferation goals of nuclear weaponry. The Cold War, which took place following World War II, was a power struggle between the world powers, more specifically the United States and the Soviet Union. During the Cold War, nuclear proliferation became inevitable as the world powers and their allies struggled to obtain the resources necessary to build their own nuclear weapon. As other nations developed the capability to produce nuclear weapons, limiting nuclear proliferation to the greatest degree possible became one of the primary goals of American foreign policy. The events following World War II, inadvertently changed the international politics of the United States by requiring the American government to take a more active role in the affairs of the nation. In the long run, the proliferation of nuclear weapons increased the Cold War but diminished the desire for a hot war. For centuries, the United States' foreign policy was isolationism, however, the Americans' international politics changed dramatically by the end of World War II.2 The United States rarely developed international policies, military advancements, or technological advancements before other nations. "The United States through most of its history had hardly led the world in developing new war-fighting technologies. Americans had tended to imitate rather than to originate weaponry"3 As the war came to a close, the United Stated tested the first nuclear weapon, an atomic bomb. The Americans' development of the first nuclear weapon was unprecedented, but the United States was trying to find a fast and cost effective solution to bring World War II to an end. "Having acquired this awesome weapon, the United States used it against Japan for a simple and straightforward reason: to achieve victory as quickly, as decisively, and as economically as possible Hiroshima and Nagasaki were destroyed"4 This devastating demonstration of the atomic bomb ended World War II only weeks after the creation of the United Nations. The United States government started to take an active role in the world and the security of the nation instead of maintaining its isolationist views. The United States government enacted organizations, policies, plans, and treaties to insure the safety and security of themselves and their allies, therefore taking on a very untraditional role. At the end of the Second World War, the major concern was the containment of communism and the security of the United States and its allies. In 1946, Winston Churchill warned the United States about the Iron Curtain. The Iron Curtain was a "symbolic separation of Europe" between countries that were controlled by the Soviet Union and those that were not controlled by the Russians.5 The fear was that a "domino effect"6 (one country falls to communism then they all