EUROPEAN FINANCIAL CRISIS AND FINANCIAL MARKETS Essay

EUROPEAN FINANCIAL CRISIS AND FINANCIAL MARKETS - Essay Example Acharya (2013) observes that a combination of factors led to the emergence of the European Union Financial Crises of 2010-2013. These factors include availability of easy credit conditions which occurred during the periods 2002-2008, and they led to high risk borrowing and lending practices. Patomaki (2013) believes that other factors include globalization of finance, imbalances in international trade, poor governmental fiscal policies, the economic recession of 2008-2012, and ineffective methods used by these nations to bail out troubled financial institutions. Acharya (2013) observes that the European financial crises had began unfolding late in 2009, when the government of Greece gave a revelation that previous governments did not give accurate reports of their budget deficits. In fact, they were under-reporting the financial position of the country. The revelation of this under-reporting occurred during the first quarter of the year 2010. During this year, the government of Greece gave a revelation that the 2009 budget deficit was 12.7%, and not 5%, as reported by the previous government (Patomäki, 2013). Roth (2013) denote that the Maastricht treaty made a provision which required parties to the treaty to maintain a budget deficit which is lower than 3% of the country’s GDP. Greece had a debt of around 400 billion pounds, and the French government owned 10% of this debt (Roth, 2013). This debt crisis spread to other smaller countries such as Portugal, Ireland, and Spain. Tyrie and London (2012) denotes that this crisis led to economic imbalances within Euro zone countries. In 2010, the European Union bailed out Greece by giving them a loan of 110 billion Euros, and another 130 billion Euros after two years (Tyrie and London, 2012). This paper analyzes the impact of the Euro zone debt crises on the financial markets. This paper analyzes the impact of this crisis on the equity market, and the bond market. This paper seeks to answer the question; What was the impact of the European Financial Crises on the bond and the equity market? In seeking an answer to this question, this paper borrows heavily from the elements of the portfolio theory and the asset pricing. Matousek (2012) observes that the portfolio theory is a theory of finance that aims at maximizing the expected return of a particular portfolio risk, or effectively minimizing the risks associated with a particular portfolio. It aims to achieve this objective by careful consideration of various investments options or portfolios. The portfolio theory is an aspect of diversification in investments, and it aims at selecting a variety of investments options which presents a lower risk, as opposed to other investments options (Matousek, 2012). This theory was developed on the basis that different investments assets, normally constantly change in value. Diversification therefore lowers the risk an investor might face. The asset pricing theory on the other hand concerns itself with explaining the relationship between expected returns, and the risk undertaken (Marco, 2013). It was developed on the premise that diversification alone cannot reduce the risks associated with investing in a volatile stock market. Marco (2013) further denotes that an investor has to be compensated in two ways, namely; the risk undertaken, and the value of his money, which is also considered in terms of time. This theory identifies a formula to use in calculating the expected returns of an investment (Marco, 2013). Equity Markets and the Euro zone Financial Crises: Farlow (2013) denotes that another term used to refer to the equity market is the stock market. This refers to a market where there is an issue of shares, and subsequent trading of those shares. These shares can ei ther be traded over the counter, or through various exchanges. Equity markets are a very volatile segment of an economy, and companies can use this type of a market to raise capital for their expansion and growth. The European Financ

Why artist exaggerate certain body parts and ignore others Essay

Why artist exaggerate certain body parts and ignore others - Essay Example The artists therefore study and understand the expectations of the audience and present themselves accordingly (Peirce, & Adrienne, 2005). Body parts that appeal to the audience are exaggerated to create an impression that the artist is the best fit for the particular context (Allan & Pease, 2006). For instance, female music artists exaggerate their hips and breasts and reduce their waist since the resultant image is perceived as sexy and appealing. On the other hand, male artists exaggerate their biceps and chests to depict strength and power. More notably, artists may exaggerate certain body parts in order to mimic previous renowned artists who were famous and favorite to the target audience. This way, they are able to create an impression that they are equally appealing and successful. However, artists may also exaggerate certain parts of their bodies in order to camouflage their weaknesses to avoid negative public perception. Whatever the reason for articulating body image, the ultimate result is to create a positive impression on the target

Critical Thinking Class - Editorial Evaluation Essay

Critical Thinking Class - Editorial Evaluation - Essay Example They do this by stating the audience’s side of the issue objectively and fairly. This makes the audience realize that the writer is treating the issue with respect. For instance, the editorial board note that Mayor Michael Bloomberg defended the dishonored â€Å"stop- and-frisk program† and point out that the mayor claim the program to be important in cutting crime in New York City. However, we find the editorial board trying to give an objective statement of its position about crime by providing its opinion (The editorial board, 2013). The editorial board’s opinion is that the mayor’s claim is not credible. Again the editorial board tries to avoid using attacking language. It also implies that its position is not superior to that of the audience. The editorial board’s assumptions are that the crime would never decline in New York City, as compared to other cities, because citizens were detained millions of times without legitimate reason. In this case, the editorial board tries to explain the context in which its position is valid. Furthermore, its viewpoints are that crime would not stop even after the stop-and-frisk program insinuates the police department to command police officers to stop torturing people on the street. The editorial board also explores how its position differs from that of the audience by providing evidence. The evident suggest that the police department could have achieved its public safety goals through the legal use of stop-and-frisk program; when officers have legitimate reasons for criminal activities; and avoiding violation of the constitution (The editorial board, 2013). To conclude, the editorial board finally presents the thesis. This thesis is phrased in a way that reveals that the editorial board has made some concessions toward the position of the audience. For instance, it comes to agree that the crime rate in New York City is likely to decrease. This is because; in

Analytical essay on Mesopotamian art and architecture

Analytical on Mesopotamian art and architecture - Essay Example Additionally, Assyrian art design was different from the structure of Babylonian art, which eventually became the main modern designs in Mesopotamia, resurfaced during the 1500 BC and prevailed until the end of Nineveh reign in 612 BC. Generally, the main aspect of Assyrian art design was the chopped stone relief of polychrome structure that was used to festoon imperial arts. The clearly delineated reliefs symbolized royal affairs, mainly hunting and organizing for successful battles. The art predominantly captures animal designs, especially a horse and lion; these were elegantly portrayed in the art in a comprehensive manner (Begemann et al 135-169). Additionally, though, important personalities are fairly rigid they are also benignly represented, as in victorious scenes of operations, wars, and individual military contribution. Assyrian reliefs that apparently popular include the lion-hunt sculptures depicting Assurbanipal of 7th century BC and Assurbanipal II of the 9th century BC (Ulrichsen 349-377). Both carvings are archived by the British. Guardian nature composed of lions and other flying wildlife with hairy human face. The models were presented in incomplete curves for strong regal entrances. It is notable, though, that Nimrud-carved elephant tusks and bronze plates were located by archaeologists. The items are colored in the Assyrian form, and were the brainchild of and Aramaic and Phoenician artisans (Landes, Mokyr, and Baumol 164-168). Mesopotamia’s structural designs are the earliest designs of the society of the Mesopotamia region, which is popular for the Tigris and Euphrates rivers. The designs include several unique cultures and lasting between the 10th millennium BC and the 6th century BC when the oldest structures were erected. Notably, the Mesopotamian architectural achievements encompass the growth of towns through proper structuring techniques, the

Psychoanalytic Literary Analysis of Rites of Passage Essay

Psychoanalytic Literary Analysis of Rites of Passage - Essay Example Rites of Passage is a poem written by Sharon Olds that can be effectively examined by this technique. On the surface, the poem speaks of six and seven year old boys attending the birthday party of the writer’s son. These boys are beginning to show many of the aspects of adult men. However, evaluating the text from a psychoanalytic standpoint shows underlying themes of hostility, problems letting go of the writer’s son and a lack of closure. One theme that emerges as part of Rites of Passage is hostility. Although the young boys are presented as innocent and simply growing up, the author appears to show a certain level of anger towards what these boys will become. The phrase â€Å"the dark cake, round and heavy as a turret† is one example of this. This cake is an interesting aspect of the poem, as it is mentioned only once, and does not seem fully relevant to the rest of the poem, which is focused on the boys themselves. The cake appears to be an item of war and o f hostility by the use of the term turret, as well as the dullness of its description. No information is given about what type of cake it is or any other aspects of its appearance, suggesting that this was not relevant to the writer. This concept of war is further developed later in the poem, with the description of the boys clearing their throats as generals would, and of them playing war. This theme suggests that the author is uncomfortable with the concept of her son growing up, in particular of the type of man that he might grow to become. One interpretation is that the writer has had negative experiences with violent men in her past and is afraid that one day her son will become one of these. A second theme that can be observed through a psychoanalytical approach to this poem is that the writer is having a difficult time letting go of her son. She spends a portion of the poem describing his physical appearance, including the freckles on his cheeks, his narrow chest and long han ds. The first of these aspects is highly affectionate, suggesting a deep love for her son. However, the second and third appear to be more reserved and analytical. She compares the boy’s chest to the keel of a balsa-wood boat, a form of wood that is fragile and light. The consideration of him like a boat also suggests that he is moving away from her, into open waters. Finally, the third description focuses on the boy’s hands, and also of the day that the boy was â€Å"guided† out of her when she gave birth to him. The use of this term suggests a deep sense that the boy is still being guided away from her. Coupled with the hostility theme, this could indicate that the writer feels her son is being pulled away from her to be a man that she does not want him to be. Despite the progression of the poem, there is no evidence of closure. The author does not resolve any of the issues with her son leaving or his growing up, giving the impression that she does not feel th ere is any alternative to letting him grow as he will. Using psychoanalytic literary analysis techniques on the poem Rites of Passage reveals potential underlying emotions that the author had on events described in the text. The aggressive and warlike symbolism provides

The Abuse of Volunteering For Public Service Essay

The Abuse of Volunteering For Public Service - Essay Example These include social amenities like health, fire services, and housing among others. The public service was mostly provided by public servants who were hired by the government to ensure that the services are rendered to the masses. Most public servants are qualified in their respective fields to provide efficient service. In recent times, the public has been encouraged to participate in public service. This is done so that the public could play a role in the betterment of the lives of the community. The participation of the public will ensure that its members contribute directly to providing services that are required by a community. Initially, individual participation in volunteering for public service was purely based on altruism, a sense of obligation and patriotism that the community possessed. In recent times, however, the reasons for voluntary participation in public service have been questioned, since the motives are not based purely on duty. The motives of volunteers are most ly egocentric; these people want to attain benefits for themselves, so the original intention of helping the community as a whole is neglected. This raises the question whether or not voluntary public service has lost its meaning? This is because nowadays it is hard to distinguish if the volunteering is done due to duty or due to the desire of the volunteer to benefit himself or herself as opposed to the public. Individuals have contributed to public service in various ways. This includes volunteering time and expertise or monetary assistance. The motives of these contributions are, however, questionable, since not all of them are done to benefit only the society. The individuals may have an angle that is self-beneficial. This may be to gain political, educational, or career millage. Though there are individuals who volunteer only for noble reasons, this practice has been corrupted by selfish interests. The perception of public service has evolved over the years. This is because var ious motivations other than altruism are evident in the individuals volunteering for this. This is because individuals are volunteering for the services so that they can gain something in return. This may be to attain an advantage academically or to have a better-looking resume among other self-serving interests. In academic institutions, the students are required in some instances to gain field experience (Lee 3). One of the ways these students can achieve this is through volunteering for public service. The students are assimilated into public sectors and are given duties of public servants. This is then reflected in their reports and appraised by their respective institutions. In this scenario, both the public and the students benefit from this arrangement. This is because the students will devote hours of their time to serve the public while receiving the required field experience for their course. In their time as volunteers, the students will take part in activities that are b eneficial to the welfare of the society. However, there is a downside to this in that some of the student will volunteer only to get the required hours from the exercise (Lee 4). This will result in the students not giving quality service to the public, since they will not be dedicated to the service. The students will consider the volunteering only as a forced requirement rather than as a

To what extent has the UKs Vocational Education and Training (VET) Essay

To what extent has the UKs Vocational Education and Training (VET) system contributed to a skills gap Discuss with reference to the UKs potential to learn from other countries VET systems - Essay Example 5). Despite that, UK still continues to suffer from a skills gap that has affected its high economy. 3 This paper provides arguments that establish the participation degree played by the UK national VET system in bridging the skills gap. The aim is not to provide a theoretical analysis of UK’s performance, but rather to reference performance frameworks to Australian and Germany VET systems by establishing what can be learnt. 3 The term Vocational education and training (VET) originates from the content and purpose of the training. International bodies define VET as the means of preparing occupation professional fields for effective participation in the labour market (Bosch and Charest 2010, p. 1). However, this definition may not fit the current educational dimension that is characterised by university education that also prepares individuals for the workforce under specific professions. Thus, while higher education is concerned with the preparation to the labour market, vocational training is more concerned with earlier specialization for an occupational field. For this paper, we shall adopt Brockmann’s (2008 p, 2). Definition of VET an integrated and comprehensive system aimed to offer learners the ability to act competently within an occupation. 6 VET helps to match individual skills with labour force and existing market needs, equips individuals with lower levels of education with developed skills that can enable them fit into the expanding global economy that has introduced competition among countries. Vocational training also empowers young and inexperienced employees with ‘job ready’ skills, and develops a high skilled labour force that encourages and country investments by increasing economic growth (OECD 2011, p.7). 6 The universal decisive shift from holistic to vocational training in recent years has induced the UK to seek initiatives that aim at addressing her