... We are recommending a strong ring-fence – otherwise there would be little point in having one – but also a flexible one. This in essence is how it would work. On the basis above, between a sixth and a third of the balance sheet would be inside the fence. This would provide customers with a seamless switching service free of cost and risk. Neither would we require acceleration ahead of Basel. At the same time UK banks would be free to flourish in global markets, but without UK taxpayer support. ...
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... And would hitting a global peak of production necessarily spell economic ruin? If the world oil supply peaked one day and then fell away sharply, prices would indeed rocket, shortages and panic buying would wreak havoc and a global recession would ensue. Experts say a decline would probably be gentler and prolonged. That would allow, indeed encourage, the Saudis to develop new fields to replace lost output. CERA’s Peter Jackson points out that the price signals that would surely foreshadow any peak would encourage efficiency, promote new oil discoveries and speed investments in alternatives to oil. China also has deposits of heavy oil that would benefit from such an advanced approach. ...
... The alternative would be for us to have The Security Firm direct the funds
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... of the Member States", these provisions would be unsuitable for option 4 which deliberately does not affect the laws of the Member States, but rather supplements them. Article 114 might however arguably provide the powers needed for options 5 and 6 whereas a civil code would by necessity not only include market-related rules (see paras. 41 ff.).
7. Article 352 would also provide the powers needed to adopt an instrument as outlined in option 4 (see paras. 56 ff.).
8. Option 1 would hardly afford more publicity than what can already be claimed under Regulation 1049/2001. Options 2 and 3 would neither remove existing divergences between national contract laws nor provide a common legal platform for contracting parties. A minimum harmonization by means of a directive (option 5) would impose far-reaching implementation and adjustment obligations on Member States without achieving the uniformity required (see para. 66). ...
... But apart from one case about which I have a bad conscience, I would say that all the associate professors and full professors we appointed met acceptable standards." A bill being debated in the Parliament, which the current Socialist government expects to become law in the spring, would abolish the qualifying exam. As an alternative, the law would provide for national committees of university professors who would accredit all qualified applicants, without a quantitative limit, based on analysis of their curriculum vitae. Universities would be free to use their discretion to fill vacant professorships with any accredited candidate. Critics of the proposal say that, for all the limitations of the current system, such a law would be a step backward because, among other reasons, the accreditation committees would not meet publicly or interview applicants. Nor would anything prevent a hiring committee from choosing the least academically qualified candidate among those accredited. ...
... The strong bond of trust between the
principal and the auditor and the principal’s need for assurance about the
fidelity of those to whom they had entrusted their assets would have determined
the mindset of the auditor That would have guided the appropriate degree
of scepticism in the auditor when holding a hearing to question those entrusted
with the principal’s assets and to assess whether they had given a proper
account of their handling of those assets. They would have asked the questions
they would expect their principal to ask, they would have challenged where they
would expect their principal to challenge and they would have pursued matters until
they were satisfied that the evidence would satisfy their principal. ...
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... If this were some professor vigorously expounding controversial and even extreme views, we would be in a familiar drama with the usual stakes. Had that professor been on leave marching with Nazis in Skokie or advising communists during the McCarthy era, reasonable people would probably find that a still easier case. If, however, this strong consensus were enough to fire or sanction someone, then academic freedom would be meaningless. That would not be the best way to educate, or a promising way to seek deeper understanding in a world of continual, strange revolutions. Assuming one believes as I do that Professor Yoo offered bad ideas and even worse advice during his government service, that judgment alone would not warrant dismissal or even a potentially chilling inquiry. On the other hand, prosecution, followed by conviction and unsuccessful appeal, would be a very different matter. ...