Thesis driven paper on an aspect of the vietnam war Essay

Thesis driven paper on an aspect of the vietnam war - Essay Example The victims, soldiers, commanders, and political leaders who were directly involved obviously have their say. In the same way those who were at the opposite end of the spectrum- the dissenters, the war protestors, draft dodgers as well as the super-patriots - do have their own readings on the war and its outcomes. There are many who really believe that United States’ intervention in to the war was quite unnecessary and that the incompetent foreign policy of the US has adversely affected the lives of many ordinary Vietnamese, caused them poverty, misery, and anguish. The U.S did have its own political motives and ideological stand- that of preservation of human rights, liberty, democracy and the spread of capitalism. Thus, in a wider perspective the Vietnam War can be read as the battle of ideas – communism of North Vietnamese supported by the Soviet Union and its allies versus the capitalism of South Vietnamese supported by the U.S and its allies. The essay attempts to make a probe not so as to who won this battle of ideas –whether the triumphant North communist or the well-thought Americans who finally retreated from the battlefield; rather it focuses on who lost the battle with a special reference to the foreign policies of America during the various stages of the war- the reaction of American citizens in particular to the whole issue, how the international community viewed the foreign policy of America in the Vietnam war, how it affected the political atmosphere of the country , and up to what extent the motives of the American Government can be justified. For ages, America’s foreign policy has been one of intervention and domination; it has always tried to assert its supremacy over other nations politically, economically and ideologically. One always tends to seek the ultimate result of such a step and one comes to realize that the great nation has faltered in its treatment of the Vietnam people. Even though, Americas

History of Art Essay Example | Topics and Well Written Essays - 1500 words

History of Art - Essay Example Starry night is one of the masterpieces by Vangogh, and it depicts a sky at night filled with blazing stars, swirling clouds, a bright crescent moon and a morning star as centre point. The features of this painting is bit exaggerated, but it reflects a feeling of ease and comfort in human being. This starry sky makes the viewer’s eye gazing all around the painting. The dots of the stars and swirls of cloud keep the viewer hold on to the painting as well as engaged. Below the sky there is a hill and close to the horizon lies a village. The cool colors of the painting bring in nostalgic memories to the viewers about their childhood years. Guitar’s by Picasso was a breakthrough in the world of sculpturing, as it was an epitome of human experimentation and creativity. First this work was done in cardboard and later it was reconstructed in metal. The antiquity of the work is that it was not constructed from traditional materials like wood, marble or bronze but from sheet met al. Here the guitar is being portrayed in a unique form where the lower half of the guitar projects outwards instead of receding. Picasso with this art explored the cubism and presented a different form of guitar to the world. This guitar in paper was the most influential art work of Picasso in the 20th century. The starry night has a theme of serenity, as a person viewing it feels calm and peace both emotionally and physically. The prominent blue color of the painting cools down the senses and relaxes a person entirely. Watching a starry sky at night have always been an act of pleasure. It is definite that Vangogh while painting this work had been intensely calm and at peace. The massive dark structure on the left hand side of the painting evokes a feeling of isolation .This art work remarks about the sense of serenity a person feels while watching a starry sky at night in isolation while weather is cool. The paining also connects a person immensely to the nature. The art work has a core message of the significant impact nature has on human beings. Even when the times changed, the affect of a star studded night on a person is enormous. In this age of technology, people find less time to appreciate nature and its characteristics. If we find some quality time to observe sky at night, we could dream away in its beauty. It could make us see what Vangogh has seen and additionally

Ineffective Unworkable Stability Growth Pact

Ineffective Unworkable Stability Growth Pact Abstract The paper presented provides a discussion and evaluation of the functioning of the fiscal discipline instrument; it was designed in the early 1990s for inclusion in the Maastricht Treaty, refined in 1997 with the creation of the Stability Growth Pact (hereafter, ‘SGP), and reformed in 2005. Assuming that we need it for reasons rehearsed in literature, the SGP will be evaluated and discussed in relation to its effectiveness to date. Although case law is not studied extensively, a brief overview of the SGP crisis in 2003 will be provided, followed by a legal/economic analytical framework perspective with the SGP examined under the lens of soft and hard law primarily. With the legal principles exposing the economics behind the SGP, the rules and discretion debate is followed supporting evidence that the current framework has proved to be inadequate. The methodology continues to analyse the SGP framework with a particular focus on the economic crisis of Greece. The lessons illumin ated from this particular case study will further provide possible recommendations to help the SGP become a more effective regime, in face of ageing populations and a need for growth enhancing forms. 1. Introduction While monetary policy is delegated to the European Central Bank (ECB) who face a challenge of convincing speculators that they are serious about the maintaining of exchange rate stability and that they will not use the option of devaluing (Jacquet 1998), fiscal policy remains in the hands of national authorities. Member States (MS) should however, according to the Treaty on European Union (hereafter, Maastricht) comply with the principle of sound public finances. To ensure this, the Treaty presents a no bail-out clause which prohibits the ECB, and other nations of rescuing a MS in financial trouble. This was further protected by the introduction of the Stability Growth Pact (SGP) which further specified rules and procedures. A primary source of European Union law is provided for by the power-giving EU treaties which set broad policy goals and establish institutions that, amongst other things, can enact legislation in order to achieve these goals. The SGP is precisely this further legislation that is required to give force and credibility to the Treaty. The legislative acts of the EU may come in two forms; directives and regulations. In the case of the SGP, it consists of two council regulations 1466/97 and 1467/97 which are directly applicable and binding in all MSs without the need for any further domestic legislation. The fundamental objective for the SGP is to identify excessive deficits and end them as soon as possible[1]. However, the SGP, in its original, reformed and current form is not effective. Whilst initiating debt and deficit cuts, it fails to stimulate and enhance growth. It has no end to criticisms in applying fiscal discipline. This has led to not only the SGP crisis facing the European Court of Justice in 2003 where the Economic and Financial Affairs Council (ECOFIN) failed to impose sanctions on delinquent MSs but more significantly the recent crisis of Greece, where the failure of the SGP to discipline their budgetary discipline has led to spiralling debts forcing the EU to possibly ‘eat its own words in relation to the ‘no bail-out clause. This not only undermines the credibility of the SGP as a framework, but calls into question the functioning of the European Monetary Union as a whole. With the pact being described as an operational recipe and repeatedly being consi dered as too weak, will this finally spur policy-makers into producing a much harder pact? 2. Designing, Building and Naming the Ship From Maastricht to SGP[2] The aim of the following chapter is to provide a brief focused review of how the SGP framework was formed. The debate leading up to the creation of the SGP began long before the Maastricht treaty was signed in 1992. After the experience of the 1970s and 1980s it became clear that a new focus was required on medium term stability and fiscal discipline, and it became certain that there was a need for institutional mechanisms. In particular, the absence of a fiscal rule meant that the free rider problem was feared as MS may be tempted to run excessive deficits in the expectation that the Monetary Union will bail them out (Begg Schelkle, 2005). Later, this became the one of the most compelling rationales for the SGP; to prevent the European Central Bank (ECB) from being pressurised for an inflationary bail out (Eichengreen Wyplosz, 1998). In 1989, The Delors Committee composed of central bankers reported that economic and fiscal decisions â€Å"would have to be placed within an agreed macroeconomic framework and be subject to binding procedures and rules† (Delors Report, 1989). This would also help to avoid differences in public sector borrowing requirements between MSs and present obligatory constraints on the size of budget debt and deficits (Delors Report, 1989), therefore limiting the use of fiscal policy itself. This not only combined but reflected both the Keynesian coordination and fiscal discipline arguments. The vital question was how? The European Union (EU) was faced with key players representing different rationales. Whilst France wanted an ‘economic government the Germans central focus was on price stability, and they were adamant that excessive deficits must be avoided. Thus the result was the Treaty on European Union 1992. Whilst Article 99 states that MSs shall regard their economic policies as a matter of common concern and shall coordinate them with the Council, Article 104 states that â€Å"Member States shall avoid excessive government deficits†. The Treaty requires MSs to satisfy two fiscal convergence criteria to qualify fully as EMU members: to keep general budget deficit/GDP below 3% and nominal gross debt/GDP below 60% (Article 104c Protocol) (hereafter the ‘rules of the SGP). Furthermore, the excessive deficit procedure (EDP) is defined and shaped by the interaction between the Council and the Commission. For Euro MSs, this can lead to financial sanctions because of possible negative spillover occurring throughout the Monetary Union as a result of established excessive deficits. However the procedure, as laid down by the Treaty, is in no sense mechanistic. Ultimately it leaves the discretion of whether to take action to the Economic and Financial Affairs Council (ECOFIN). The EDP protects MSs from action in the form of ‘forgiveness clauses which accommodate deviations from the rules, for example resulting from an idiosyncratic shock, given that MSs meet specified conditions. This means MSs are still able to participate in EMU (Article 104(c) 2a Article 104(c) 2b). For the debt ratio rule, the escape clause is ambiguous in its wording as the ‘satisfactory pace for approaching the reference value has not been defined and this has been interpret ed very freely and at the discretion of each MS. It has proved difficult to devise a formal rule covering all possible events. It was interesting to note, that the SGP provided a further detailed specification regarding the interpretation of the deficit ratio emphasising the importance placed on it, yet it remained silent on the debt criterion. This can be interpreted as the SGP effectively overlooking the debt/GDP ratio as being unimportant in the application of fiscal discipline. As Maastricht aimed at bringing into line the states whose fiscal history in previous periods had given rise to problems, Maastricht offered a great incentive of joining EMU successfully.[3] However, pessimists worried that ‘Maastricht fatigue would set in once countries were admitted to EMU. It was thought that countries had been forced to suck their stomachs in to squeeze into Maastrichts tightly tailored trousers, but upon EMU entry, they would expel their breath violently (Eichengreen 1997). Beyond doubt, a further mechanism was required to ensure that MSs sustained compliance. The EU faced two options; they could either continue to rely on voluntary agreements where MSs agreed to meet convergence criteria after EMU was fully operational or the EU could impose explicit rules that would elaborate on and give further instructions from Maastricht. Although the introduction of the SGP implied that the EU chose the latter, it soon came to light that in fact the EU had implicitly chosen the former. The Original Stability and Growth Pact Prior to the introduction of the Euro, the German government became extremely anxious about giving up the reputable Deutschmark in favour of the new single currency that would include fragile economies who lacked stability culture. Germany already maintained a low inflation policy, and through the SGP the German government hoped to limit the pressure other MSs could exert on the European economy. They hoped to remove the margin for discretion left by Article 104 of Maastricht by ensuring that the EDP would be implemented according to a predetermined timetable and the eventual sanctions would be levied according to a predetermined formula (Costello, 2001). However such an automatic sanctioning mechanism was considered inappropriate by some MSs. In 1996, the SGP was finally concluded[4] as being â€Å"far less mechanical than the initial proposal† (Fischer et al 2006). Based on two council regulations, it took the force of law, with decisions to be taken within the original standard legislative framework of the Treaty. Fiscal policy remained decentralised but the SGP hoped to combine restraint with flexibility, whilst representing a backbone of fiscal discipline in EMU to primarily address negative spill-overs from MSs (Fischer et al 2006). Although the Commission reserved its ‘right of initiative, the Council ultimately retained discretion in making decisions within an overall rule based framework. Whilst some argued that the SGP was â€Å"no more than a clear affirmation of Article 4† (Jacquet 1998), others suggested that the SGP builds on the Maastricht provisions (Fischer et al 2006), by presenting a monitoring process, based on Article 99, which combines surveillance through stability programmes and a quasi automatic warning system for countries suffering from excessive deficits based on Article 104, often referred to as the ‘preventive and ‘corrective arm. The preventive arm requires Euro members to submit stability programmes while non-Euro members present convergence programmes. Both are required to include the medium term objective (MTO), and if applicable, an adjustment path towards it. The MTO is required to be ‘close to balance or in surplus and the rationale is to ensure sustainable fiscal positions in the long run whilst also creating sufficient room for fiscal policy to smooth out fluctuations in the short run without violating the 3% deficit ceiling as specified in the SGP regulations. Furthermore, it is interesting to note that although the programmes must be submitted to the Commission, it may be examined by the ECOFIN Council which may choose to make its opinion public, and this can be understood as ‘naming and shaming. In addition, if the Council forecasts a deviance from the budgetary position it may choose to address a recommendation to the respective MS. However this is not obligatory, highlighting the Coun cils power as it can take it upon itself to apply peer pressure. The corrective arm however, in contrast to Maastricht, provides for a much stricter and formal procedure, designed with a rigorous course of action set with time limits, to enforce fiscal discipline in the SGP (Dutzler Hable 2005). Whilst an excessive deficit is established upon a breach of the 3% deficit or 60% debt rule under the Treaty provisions, the SGP nonetheless focuses on the 3% deficit ceiling. This is arguably, a mistake on the part of the SGP creators. The inability of monitoring deficits due to difficulty in time lags means that data is imprecise. It can take more than four years to detect disobedience reliably, which means that disciplining MSs is even more unlikely.[5] Therefore, focusing on the debt/GDP ratio would be more sensible. After all, it is the total debt stock that needs to be financed. Focusing on the short term requirement does not do much in preventing MSs from getting themselves into situations where they may need to be rescued as the Greek experience illustrates. Because debt is a persistent stock and not a flow, it can help policymakers in nation states to choose more suitable and reasonable plans, which will help lower the probability of nations facing a crisis such as the one faced by Greece. The persistence of a debt will help give governments an incentive to keep debt at lower levels in order to be able to adjust to unforeseen circumstances more ea sily. There is a question of how to set that debt limit; but that can easily be done using the empirical work of Reinhart and Rogoff (2009), and others, on the links between debt and growth rates. Nevertheless, the EDP clarified the following. Firstly, the ‘exceptional circumstances are defined as ‘an annual fall of real GDP of at least 2% meaning that countries will be automatically exempt from further action. Furthermore, a fall of between 0.75% and 2% may be deemed exceptional if MS provide evidence. The deadline for correction of excessive deficits should be completed in the year following its identification unless there are ‘special circumstances; these were not defined. As the rules in the SGP are insufficiently flexible, they allow for breaches that ultimately may undermine the operation of the SGP. However, because the procedural steps clarify that the timing between reporting a deficit above 3% GDP and imposition of sanctions should be no more than 10months, it means that, if no corrective action is taken in adequate time to correct the deficit by the year following its identification, sanctions will be imposed. Financial sanctions will be in the for m of non-remunerated deposits which will take the value of 0.2% of GDP and rise by one-tenth of the excess deficit up to a maximum of 0.5% of GDP. Additional deposits will be required each year until the excessive deficit is removed. If the excess is not corrected within two years the deposit will be converted into a fine; otherwise it will be returned. Ultimately, this means a MS can run excessive deficits for at least three years before their deposit is converted into a fine. Although the inability of monitoring deficits is unfortunate, the effect of legal and institutional weight given to the corrective arm means that the short term requirement of keeping government deficit below 3% is treated with much more seriousness than the preventive arm. This is ironic since in practice, the excessive deficit procedure is not properly enforced as no MS has yet been fined. The preventive arm on the other hand is enforced, yet its lack of formal and legal basis and no procedure to punish a failure to comply with the objective of a medium term balance further emphasises the lack of importance placed on the preventive arm. (Rostowski 2004). 3. Soft Law to Softer Law This chapter will provide a review of the SGP as a form of proper regulation up until the SGP crisis in 2003 which led to the consequent reforms. The hard versus soft law debate will be discussed. Difficulties facing the SGP after its Inception Whilst several Euro countries bettered their fiscal outcome by moving their budgetary positions into surplus, others such as Germany, France, Italy and Portugal remained trapped in high deficits (Fischer et al 2006). The implied emphasis on correcting deficits rather than preventing them (because on its sanctioning nature) induced a failure to achieve ‘medium term balance meaning that they had little scope to allow automatic stabilisers to operate once economic conditions deteriorated (Rostowski 2004). They were criticised as not being tuned into the pact and this failure of key MSs to respect the requirements of the SGP just a few years after its inception, triggered a heated debate regarding a potential reform on the architecture of the SGP (Fischer et al 2006). Though some may argue that countries would have faired worse had there not been a SGP[6], the operation of the pact brought to light issues which where nevertheless important. A continued period of low growth levels t riggered by the dot-com crisis in 2000, eroded budget balances to the point where fiscal policies had to become strongly pro-cyclical to respect the 3% limit (Wyplosz, 2008), highlighting the fact that the SGP encourages pro-cyclical behaviour. In addition, the SGP discouraged growth and economic reform, most importantly in the labour market. REFERENCE? Although these are major criticisms of the functioning nature of the SGP itself, whats more is that the SGP is perceived as being contradictory; although created as hard law it takes the effect of soft law. With a legally binding nature, there should be little room for discretion, however as mentioned the sanctioning is not automatically applied (Schelkle 2005) to countries who are in breach of the EDP but rather, the members of the Council are required to vote, and only by qualified majority can countries be declared to have excessive deficits (Rostowski 2004). The council composing of finance ministers from MSs, implies that not only is ECOFIN dependant but it is also partial (Schuknecht 2004). As concluded by Eichengreen and Wyplosz (1998), the SGP will in this respect have some, but not maximum, effect. As long as imposition of sanction remains a political decision in the hands of national governments, it is highly unlikely that large and influential states will be punished (Rost owski 2004). This was proven in the European Court of Justice (ECJ) crisis of 2003. Due to the fact that EU officials will be reluctant to levy fines and lose goodwill, EU decision makers will compromise, allowing the 3% deficit ceiling to be violated. MSs will be reluctant to incur fines and suffer embarrassment, and therefore governments will also compromise by modifying their fiscal policies just enough to obey the rules, and avoid forcing the EU to impose sanctions. Thus although the lack of hard law perhaps implies that the sanctions were to act as a deterrent for MSs from violating the rules, the presence of the sanctions which will ‘never be imposed provides no incentive whatsoever for countries to comply with fiscal discipline. This is not only in the best interests of the respective MS but for the best interests of EMU as a whole. Furthermore fines may adversely affect a MS, causing conditions to worsen, leading â€Å"to recrimination and dealing a blow to EU solidar ity† (Eichengreen Wyplosz 1998). It makes no sense to place emphasis on penalising MSs after the rules have been breached; rather the EU needs to do more to prevent these breaches from occurring. Not surprisingly, to date no country has yet incurred fines. Evidence suggests that the SGP has created divergence between different sized MSs (von Hagen 2005). With the three largest countries seemingly unwilling to push for underlying balance, the Pact seems to have worked well for a group of smaller countries (as well as Spain) (Annett, 2006).[7] This demonstrates that enforceability is not uniformly weak; generally small countries have respected the SGP provisions, the only exception being Portugal (Rostowski 2004). This suggests that either enforceability needs to be applied equally, or the pact must regain the support of the larger MSs, especially Germany and France who fought for the creation of the pact. Perhaps a more vital question is why the pact lost support of the key players in the EU. If governments do not believe fines will be imposed in bad times, what incentive do they have to run fiscal surpluses in good times? The following SGP crisis was therefore inevitable. The Original SGP Crisis In 2003, Germany and France established excessive deficits. However, the European Council (described as the ‘dozing watchdog in Heipertz Verdun 2004) voted to hold the EDP in abeyance as it is permitted to do so by the articles in the Maastricht Treaty, causing great uproar for the ‘existence of the pact. As described by Begg Schelkle (2004), â€Å"The ECOFIN council decision was widely interpreted as the death-knell for the Stability Growth Pact.† The Commission challenged this decision by presenting the case to the ECJ whose judgement[8] left many unanswered questions. This in turn led to legal uncertainty and the loss of credibility for the EU fiscal framework (Dutzler Hable 2005). More specifically the Council stated that France Germany had established excessive deficits. In the case of France, Council recommendations on basis of art 104(7) set a deadline for taking appropriate measures to reduce their deficit. Once the deadline was reached, the Commission observed France had not taken effective action upon the recommendations (Dutzler Hable 2005). The case of Germany differed slightly; although another deadline was established, in face of the economic slowdown facing Germany, the content of the recommendations was moderate. Upon reaching the deadline, Germany had, from the Commissions point of view, taken inadequate measures to implement Council recommendations. Thereafter the Commission issued further recommendations to the Council in order to advance with proceedings with regard to both MSs, and in particular, to take action in face of art 104(8) and art 104(9) EC respectively (Dutzler Hable 2005). Although, from the Commissions point of view, this shoul d have resulted in the Council immediately resuming the EDP (Dutzler Hable 2005), the Council upon voting, chose to suspend the EDP for both Germany and France. This decision was not unanimous; most of the smaller countries (who incidentally hold better fiscal positions) voted in favour of the Commissions recommendation, but the larger countries formed a blocking minority (Fischer et al 2006). As commented by Dutzler Hable (2005), in essence, the ECJ had to deal with two claims by the Commission. On one hand it was asked to annul the decision of the Council of not adopting the formal instruments contained in the Commissions recommendations pursuant to art 104(8) and 104 (9). On the other hand it was asked to annul the Councils conclusions, because it involved the decision to hold EDP in abeyance. The Court, in its judgement[9], demonstrated an appreciation of both parties. It ruled that the Council can and must hold the EDP in abeyance if the majority in Council does not vote to sanction the MS in question. However, it ruled in favour of the Commission in stating that the Council cannot adopt political conclusions (Dutzler Hable 2005).The judgement proved fatal to the existence of the pact as it failed to address important questions and clarify the institutional balance of powers between the Council and the Commission. It not only called into question the political willingness of countries to adhere to the prior agreed fiscal rules but it remains unsettled if the issue is to arise again in the future. Although Dutzler Hable (2005) comment that it remains unclear whether the EDP can be continued without the Councils approval, it is likely that the sanctions will never be applied without the backing of MSs as this would never be politically accepted. Therefore the question of whether the SGP effectively enforces MSs to obey fiscal rules is brought to light. The extent to which the system of fiscal surveillance and economic policy coordination binds the MSs and institutions remains unclear. The 2003 crisis called for a refocusing of the SGP and a need for political agreement opening the path to reform the SGP architecture (Begg Schelkle 2004), as supported by many of its critics. Question of Reform? To restore the credibility of the so called ‘hard-law fiscal coordination, in 2004 the Commission â€Å"suggested that an enriched common fiscal framework with a strong economic rationale would allow differences in economic situations across the enlarged EU to be better catered for and would contribute to greater credibility and ownership of the SGP in the MSs building on the culture of sound fiscal policy established in the EU over the last decade† (Commission 2006). In 2005 the reforms took place (legal provisions in EU Council (2005a,b)). The revised version arguably offers some answers to what was known as the inadequate SGP. There are changes in the preventive/corrective arms and the EDP, for example a variety of standards such as the position in the cycle, the nature of expenditure and the level of public debt must be taken into account to calculate whether a MS is in breach of the 3% deficit rule (Couere Pisani-Ferry, 2005), emphasising further flexibility. Contrastingly, there are no changes in governance. The voting methods and basic procedures remain the same, as changes to these would require modifications to the Maastricht treaty. Though the changes are welcomed (Fatas Mihov 2003), the SGP may still be identified as the ‘dog that would never bite (Heipertz Verdun 2004). For many critics, it was unruly that a softer pact was coming into existence, as a harder pact was desirable. However the Commission role has been strengthened considerably in that it can now give early policy advice and is under obligation to file a report if a budget deficit has been violated. The changes are summarized in Table 1. Original Pact Reformed Pact Preventive Rule: Medium-term Objective (MTO) All MS have an MTO of â€Å"close to balance or in surplus† Country-specific differentiation of MTO depending on debt level and potential growth, allows for 1% deficit if debt is low In case of Deviation from MTO No adjustment path or action Specified Commission can issue direct â€Å"early policy advice;† adjustment path specified as a minimum fiscal effort of 0.5% of GDP and countercyclical; structural reforms can be taken into account to allow for deviation Corrective Rule: Monitoring if Deficit Exceeds 3% No obligation for Commission to prepare report; no mitigating other relevant factors (ORF) specified Commission will always prepare report, taking into account whether deficit exceeds investment expenditure. ORF can justify temporary â€Å"excess† Debt Position No specific provisions â€Å"Sufficiently diminishing† debt can be taken into account qualitatively; Systemic pension reforms can be taken into account for five years if reform improves long-term debt position Excessive Deficit Procedure Excessive deficit must be fixed in year following identification; if not, a noninterest bearing deposit must be made with the Commission that is turned into an â€Å"appropriate size† fine if situation persists; No ‘minimal fiscal effort defined; No repetition of steps foreseen Correction can be postponed for one year if ORF applies; Minimal fiscal effort of 0.5% of GDP to reduce excessive deficit required; Deadlines for correcting deficit can be extended if necessary steps are taken or if unforeseen adverse circumstances occur Table 1: Schelkle 2007 Analysis Under Soft and Hard Law Hard law instruments can be distinguished from soft law in that they are fully binding. When MSs do not comply with these laws they are breaking the law and may be sanctioned accordingly. Contrastingly soft law instruments are negotiated in good faith and provide a new framework for cooperation between MSs. Whilst favouring openness and flexibility, policy processes follow a codified practice of benchmarking, target setting and peer review. This allows national policies to be directed towards certain common objectives. The essence of it is not to provide a single common framework but instead to share experiences and to encourage the spread of best practice. By avoiding regulatory requirements, it allows experimentation whilst fostering policy improvement and possibly policy convergence. These can be seen as managing techniques which provide means to promote policy coordination without further undermining sovereignty. An example in the general EU context is the OMC method used under t he Lisbon strategy. Whilst soft law is easy to agree on but hard to enforce, hard law instruments on the contrary are difficult to agree on but easy to enforce. According to Wessels and Linsenmann (2001), EMU introduced both hard coordination in fiscal policy in the form of the SGP and soft coordination in economic policy in the form of Broad Economic Policy guidelines (BEPG). If a country deviates from the guidelines the Council can as in the case of Ireland adopt a non-binding recommendation against the respective MS (Jacquet Pisani-Ferry 2005). Unlike the EDP, the guidelines are not supported by any sanction. However, there is a fixed format of reporting and a predetermined timetable is followed, rather than allowing for ad hoc decisions by policy makers that set the agenda for discussion and action. Therefore, upon this insight, it suggests the SGP takes the form of hard law in that it is legally binding, but soft law in that enforcement is not automatic. Of course there are m any shades of softness in the SGP framework. The preventive arm with its close to balance or surplus provision, without sanctions is rather soft. By contrast the corrective arm with the ultimate threat of sanctions comes much closer to hard law (ESB working paper 2004.)This is not effective as it implies that only when things are wrong, is it time to sanction and this is an ultimate downfall of the SGP design. It is therefore confusing that following the reforms, critics claimed that the ‘hard law institution for fiscal surveillance has become soft. Furthermore, critics claim that the SGP has become so soft that the functioning of the SGP is jeopardized (Schelkle 2007). Schelkle (2007) refutes this claim by arguing that the revised pact will be better suited in constraining MSs in their fiscal behaviour since the new rules will be perceived as binding constraints that shape domestic efforts. An apparent paradox exists; the weakening of obligation to the pact may in fact make it difficult to evade, although it implies a softening of the governance framework. Abbott et al (2000) have proposed that there are three dimensions of governance all of which characterise the degrees of legislation; obligation, delegation and precision. This allows one to compare and contrast the original SGP with the reformed version for effectiveness of instruments and for the relationship between these dimensions. Obligation has been defined as a commitment arising under rules. At the two ends of spectrum, hard law is defined as sanction-able obligations whereas soft law are norms which are too general to create specific duties. Delegation, whilst at the hard law end of spectrum would mean an international court or organization given powers to resolve a dispute, contrastingly with the soft law end, which implies diplomacy. Precision defines whether a rule indicates the type of action that needs to be taken and by whom it needs to be taken in order to comply with the rule. For example, the BEPG state the objectives, but not how these objectives could be met. As the following table summarises the changes from the original to the revised pact, it can be understood the changes were not a uniform move from hard to soft law. Original Pact Revised Pact Obligation high to medium: Quasi-automatic sanctions under EDP but political de

Public Hangings :: essays research papers

Capital punishment seemed to have been regenerated from the beginning of mankind, where beheading was considered an honorable method of meeting death, whereas hanging carried with it a definite stigma. The era of public hanging was emotionally satisfying even though the surroundings was emotionally tense. In contrast to private hangings where they were fewer observers, less theatrical from the accuse and hanging was becoming more of an inhuman punishment to inflict on those found guilty of their crime. Both forms of hangings were though to be an effective way of preventing individuals from committing a crime. Capital punishment seemed morally acceptable, to the public and there were individuals who were willing to carry out the execution. From the books; "†¦Hang By the Neck†¦", Hanging in the Balance and The trail of the Dinosaur, gives descriptions of public and private hangings, the responsibilities of the hangman and the general reaction of the public, who were for and againts hangings. In the days of public hangings, gallows or scaffolds were rather crude contraptions. Early contraptions consisted of two post in the ground, with a cross-piece between them from which the victim swung. As the years passed by a second contraption was invented, a single stout post with a timber nailed at a right angle at the top, with supporting boards attached. A third contraption was made which was a platform erected nine or more feet from the ground, in the middle of which was a trap door which swung upon hinges. This latest invention was commonly used towards the end of public hangings. In private hangings the same contraption was used, but the individual were taken down a lot quicker, for their was no need to display the executed to curious observer. Public executions were grim and was a disgusting spectacle to the accuses’ family and close friends, but for most individuals it was a time to rejoice and to celebrate. When a crowd assembled to witn ess a public event, they were out in a holiday mood. Hundreds of people came from long distances to view a hanging, concessionaires had money invested in trinkets and food to be sold at what they called jamborees. Public hanging were often imitated in plays, which were seen as despicable form of entertainment towards the victim and the accuses family. The scenes attending the hangings were for large gatherings from far and near, mostly bent on idle curiosity or for a grand jollification.

Sales and Distribution

GMSI 409| Sales and Distribution | World Wide Equipment | Kunjalik Balwani 3/4/2013 | Introduction – World Wide Equipment is UK based multinational in the heating air conditioning and ventilation industry, it has been rated as one of the most innovative companies in the particular sector, and the company majorly deals in B2B, like hospitals shopping malls, hotels. As mentioned above World Wide Equipment is a multinational company so it has one of its branches situated in China and the firm has had an enormous growth in the span of 20 years going from an ordinary US$6 million to a staggering US$ 70 million.World Wide Equipment relished a premium brand image in China and had priced its chillers on a higher note , not only were they selling higher than the local manufactures and the joint venture companies ,but 10% higher than their international counterpart. The unique selling point of the products are they are the most energy efficient products amongst all its major competitors both locally and internationally and to its advantage company had a much larger customer base as compared and the reason being that they were early entrant.World Wide Equipment China was part of the Asia –Pacific area office located in Hong Kong and within China they had three sales offices in mainland china namely Beijing, Shanghai and Guangzhou. Frank Wang the regional sales manager of the Beijing office had received a fax of the half yearly sales performance for the three offices and it was seen that Beijing office ranked third in the list and it was a reason to worry as the Beijing office had always been rated as one of the most consistent out of the three.The Decision Dilemma – Frank Wang the regional sales manager has a task in front of him, and those are the decisions that he has to come up with in order to put his sales team right on track. Wang has a few immediate and long term issues that have to be addressed. The immediate issue that he has to address is th e low sales performance of his employees, the drop in the sales performance was due to loosing large tenders on trot and it was just not about losing, it was about coming very close to the deal and losing it out at the last moment, this was somehow tampering the morale of the whole sales team.Generally there are two options for any team which loose the close calls, either they are motivated to do better or their morale go down like in the case of sales team in World Wide Equipment. If the reports are to be believed, the major cause of failure has been courtesy Li Weimin. Li Weimen was suggested by Frank Wang’s boss Frank Yu and was recommended because of his experience in the textile industry since textile was the genre that the company wanted to venture into.However the inclusion of Weimen was less on his merits and more because of recommendation, Weimen had more of contacts rather than skills and his inclusion was not much of help as it was witnessed later on, that the incl usion had taken a toll on the overall performance of the sales team, though it would be unfair to blame him all alone, because one individual does not create a sales team, but one individual is enough to spoil a going on deal, which was the case with World Wide Equipment.Weimen was one of the, major reasons for the failure of two of the most important deals. One of the major decisions that Wang has to make here is that what he does with Weimen, who was a recommendation from his boss, what Wang needs to decide here whether he would want Weimen to shift to Guangzhou where actually all recourses can be put to work because of his influence in that region, where as he had no influence in Beijing what so ever.Since Wang had never got the need of firing any of his sales persons, so he would want to shift Weimen out of the Beijing office, as it had been bothering the rest of the staff as well. So his first major decision is to get Weimen not fired but shift him to the office where he would have been of some use, because losing him could cost the firm potential resources and business in other part of mainland China because the bonus system of the company depended on the overall performance, so that would mean if the influential side of Weimen worked that would also benefit the employees of Beijing.After solving out the problem above the next issue that has to be addressed is the long term issue, that is of how to get into the Textile industry market and according to Yu, World Wide Equipment does not really have any hold or influence in the market situation, the reason why Textile industry was being target was because it was the new industry that was coming up and that too with a good potential, whereas on the contrary the electronic industry did not have any room for growth. So the task here is to develop a strategy a long term strategy which would actually help them capture the market as soon as possible.Another Decision that Wang needs to address that too an immediat e is related to the Textile industry, whether to train his sales team in the textile industry or hire someone who had knowledge about the industry. Core Competencies for Textile Industry – The textile industry was considered to be the next big thing in the Chinese market and was a potential market. Wang had estimated that out of the 2000 odd textile firms at least one third were looking out for an up gradation and in order to achieve that certain skills are very important to possess.It is important for the sales team to build up their Core Competencies which would eventually help them achieve their targets in the new growing textile industry. Since it was noticed that the textile companies were not looking out for expensive chillers, they rather focused on creating better products, so chillers from joint venture companies were preferred over the imported ones, even though knowing the fact that World Wide Equipment chillers were more efficient, people hesitated on paying a 30% premium one time price.So in order to overcome this situation the sales force team has to develop some skills in order to tackle these circumstances. Knowledge In Textile Industry – the employees need to develop and grasp knowledge about the textile industry, since the industry is growing and the company is targeting a major chunk of it, so a good idea is very important because eventually it is the knowledge about the industry which would help them crack the deals.Presentation – A good presentation is backed by the fact that first impression is the last impression, so the employees should develop the skill of putting up a good presentation in front of the client. As mentioned in the case study Weimen wore a suit and with that sport shoes, so this kind of impression spoils the firm’s image resulting into losing potential clients.So very important it is to make a good Presentation Negotiation Skills – all the employees were technically very good and did ha ve the knowledge of what they had to with their product and they were the best in their jobs, but one thing that they lacked as the sales people was on their negotiation front, they rarely know how to negotiate a price or even try to put a price according to the orders, so it was important to learn how to negotiate with the client, because a good negotiator can always get a good business to the firm.Decision Making – Another important skill that the employees need to render to is that of decision making, it is very important for any employee to learn how to be decisive about the deal, as we know the quicker the decision the quicker it is for the deal to go through and as there is more delay in the decisions, there are higher chances of the client to move away. So it is important to know the decision making process.Quoting Tenders – As we know that in the textile industry there was an important element of quoting tenders , so to develop the skills of quoting tenders , t he better the quoting then the competitors the better are the chances of getting the deal through. The above are few of the skills or the Core Competencies that the sales force team has to develop in order to capture the textile industry.The sales team of World Wide Equipment is not one of the easiest to join, the recruitment procedure of the company has been a very rigorous one and it s task to get into the job, the sales team of the company has to cover a lot of ground and do a lot of various things in order to continue the selling.Overall the sales force has been an effective and an efficient one for the company, before entering the textile industry the employees have been efficient with their work, getting continues sales effectively putting them in a consistent second position, but however they were not the most effective sales team as compared to the three offices as, Shanghai as been in top all the years , though one added advantage that it had was of being the first office i n Mainland China, but if we notice the sales , year on year Beijing has tried to come close to Shanghai , that means that year on year the performance of the sales team in Beijing has been very consistent, but something more needs to be added in order to beat the leading sales team in Shanghai. So if we overall look at the performance of the sales team, we an say that they are not the most effective out of the three, but they are on their way on becoming the most effective team, a few alterations in their approach or a little amount of prior learning about their future ventures could account for a considerable change in their future performances. Frank Wang was a regional sales manager; joined World Wide Equipment in the year 1995, Wang had been a very impressive sales person and has been a very fast growing employee for the company, after 18 months he was promoted to the senior sales manager and in further 16 months he was promoted to the post of regional sales manager making which made him the first Chinese national to hold a managerial position. Wang was accountable for 1) Creating the region’s sales forecast and budget fulfilling that budget 2) Sales engineer recruiting ,training and organizational development 3) Sales performance evaluation and coaching ) Daily sales /sales leads management and job assignment 5) Contract negotiation and management of contract execution Looking at the responsibilities of Wang, it can be said that he did have a lot of task and had to cater to all the different departments in the organization in order to keep the firm fit and fine. Commenting if Wang has been a good sales manager , what we can see in the case study is that he has both pros and cons in his approach to run the Beijing sales team. Wang had created a very effective sales team under him, educating his sales team how to go about their business, It was under his supervision that sales team of Beijing started inching closer to the shanghai sales team. He had helped create two of the promising employees under him Liu Hongyuan and Jiang Li. Wang had another impressive characteristic of being the person who saves the company’s money and he was successful in installing this behaviour in his other employees.When all the other offices would spend money lavishly and bill it on to the company where as Beijing office was a complete contrast of the situation, they would look out for the minimum way possible this feature was instilled by Wang into his employees. Wang what it seemed was a very honest person when it came to recruiting, he would recruit the best out of the lot, his eye for the talent has always been an accurate one. Wang somehow felt that owed his success to Yu that is what made him go against his policy of not recruiting people on the basis of recommendation, but he had to take Weimen in the firm. This somehow showed that he could not stick to his hiring policy and even after repeated failure from Weimen; he could not report his senior to take him off the Beijing office, so yes Wang did have some cons.Overall Wang was a valuable asset to the firm and he was some or the other way a good regional sales manager and he did create some good business for the firm, one bad half yearly result does not prove that he was bad manager, he had the rest of the other years of sales to prove that he has been a success in the Beijing office and had cultivated a great sales team a good environment for them and has made them perform consistently. If put under such circumstances what I would have done is that, taken a few measures in order to shake things a little bit and take it uphill from the recent downfall it has gone through, I would have to make some stern decisions in order to put things back to action. Weimen Situation – Instating Weimen had caused somewhat of a headache to the World Wide Equipment Beijing branch and some or the decision had to be made.If the onus was on me I would go for Weimen’s ba ckground check and with the contacts and influence that his uncle was a very resourceful individual in the city of Guangzhou, so loosing Weimen would mean that losing good business in the city that has always been number three in the list and would be over all bad for the business, so what I would do is shift Weimen to Guangzhou, a city where he would have some influence in the market causing and could bring in a lot of business to the firm and eventually making an overall profit, though still a little bit of training would be required too and a little bit counselling on how to go about the whole situation, but losing him would actually mean that losing somewhat of a potential chance of losing out a chance of enhancing the business in laggard place in like Guangzhou. Textile Industry Entry – The next issue would be of entering the upcoming textile industry and entering the industry in a convincing manner, so what I would do is train the staff in the textile industry or even r ecruits a few people who would have expertise. The chunk of the textile industry is quite big to let go off.Look Into Sales – As the sales have been dipping down, I was a regional sales manager I would actually get into the sales myself and handle the big clients myself and by the senior sales managers who are the cream of the company, because it is the 80 – 20 in every business, which means that 80% of the business comes from the 20% of your clients. Boosting Morale of the Employees – If the onus would be on me I would try and increase the morale of the sales team, because that is a very integral element, without a good morale or state of mind it would not be possible to conduct sales in the best possible manner. In a company it’s always the sales team which brings in the money and it is important to have them maintain a healthy morale.

Luxury Brand Economy Effect Essay

Monaco is a small country, but well known all over the world. All over the world it is known as a place of luxury. Every year a lot of tourists visit Monaco to have a good vacation visiting casinos, luxury restaurants and off course to do a shopping in a most known, luxury brands. In Monaco you can find a lot of different luxury boutiques for every taste; you can find everything from luxury cars to a luxury clothes and accessories. During the course of Luxury audit services we study a lot about the services in luxury stores. So our goal was to divide into groups and to do an audit of few stores. Our group was a big enough for such a mission, so we were thinking how to do it in a better way. And once we got a good idea. According to the information we received during the seminar with Guillaume Rose, in Monaco there are a lot of Russian millionaires, and they are always â€Å"invited guests† in different places. So we decided to split our group on two smaller groups and to compare the experience received in Gucci store and in Celine which are situated in the heart of Monaco, near the Casino and Hotel de Paris. I will share with you the Russian experience. I asked my friend, she is from Russia, for some help in this mission. Our story was that we family couple came from Russia for my friend’s wedding and as we already bought a new skirt for my wife we need to buy a new bag, which must be one of the last collections. And the second part of our group was native French with two different scenarios in two stores. As we will see next we received a little bit different experiences. Gucci store audit Firstly we decided to audit one of the most famous brands in the world, Gucci. At 12. 00 we entered the store. Before entering the store, we noticed that the showcase was clean, with good lighting, but there were no goods exposed. Entering the store, I noticed that the main glass door was all in hand prints and it was just 12. 00. Going to the store and pretending a married couple, we were arguing about the fact that my wife has already a bunch of bags and for what reason she is looking for one new. Staff in the store noticed us at once and ran to the side waving their heads as a greeting. Only the guard who was near the enter greeted us in a very polite form. We were walking through the shop for 3 minutes and a half and it gives us a good opportunity to study the store. We noticed that the reception area was clean as it is required, but there were not enough light, it gives to the store a much groomed look. And also no music and even no fresh flowers in the store. After 3 minutes and a half we meat a sales person who greeted us and introduced himself as a David. He asked us a few open questions in order to know what we are looking for. After he listened our story he was interesting in our previous experience with Gucci brand. We pretend that we don’t know anything about Gucci. He told us some information about the brand about its uniqueness and heritage. After that David proposed a few bags, he explained the value of that model and brought all the colors for that model. Also he guaranteed that the model will be in a trend for the next few years. What was not really very good it’s a careless handling of the bag and he put them on one big heap. And what impressed me very much is that he even don’t show the inner part of the bag, on my opinion it is very important to know how it is inside the bah which you are going to buy for a big amount of money. As I was pretending a husband who is not really happy to buy a new bag, I asked about the discount, and I get an answer in very polite form that there is no discount at all in Gucci store in Monaco. My pretending wife was asking me to buy the bag she liked and I was strong on my opinion. So a after that dialogue with my wife he proposed to book the bag till the evening for the case if I will change my mind. This was very polite from his side. But he doesn’t accompany us to the door and didn’t offer to giva us a business card and to right down us into the customers database. Totally we spend in the store 26 minutes. So in conclusion I can say that the experience I have received together with my pretending wife was far different from the French experience of my group mates. Celine store audit. The second we decided to audit was the Celine also situated in the heart of Monaco. Our story was the same, we were looking for a bag which will be good to my â€Å"wife’s† new skirt which we have bought for a wedding we are invited here in Monaco. The showcase was very clean with good exposition of some goods. When we entered the store we noticed staff talking together near the cash machine, although all of them greeted us in their store. The area of the class was very clean , there were enough light, giving a good look to the goods represented in the store. After a minute and 20-30 seconds of waiting we meat a vendor, she was Russian so we were able to speak on our native language. It impressed me very much, so I was ready to buy everything in that store. She was asking a lot of open questions, to get more information about our needs and it was great, because after that she proposed a few models which were facing all our needs. She was very listening, so it helps her to understand our needs. She explained everything about the product, how to clean it and how to use it to leave it in a new condition. Of course she valued the model and showed a few others and different colors. She knows the material and the price for that bag without looking anywhere. But what upset me she didn’t spoke about the brand, because we don’t know anything about that brand, except that it is a luxury and expensive brand. As the bag we liked the most she proposed to book it till the next day midday, so that we can think about purchasing it. She remains courtesy even in the case of not buying that bag. She put our names in database and proposed her help for any other matters. She accompanies us to the door and wish a good day for us. We spend in that store 23 minutes and the felling was like we spend there almost an hour, the experience we received in the Celine store was great dispute of some moments. Conclusion As our group was divided for two smaller groups in order to compare different experiences. As Russian group visiting the Gucci store we received almost a great experience. Points to improve, I would recommend to put some products on a showcases, it is needed to clean the entry glass door and if there is such a need to clean it every hour. They need to put more lights in the store, because it was too dark. Some fresh flowers will do only a good role and some soft music will be very great. And of course some training course for the staff. Celine experience was really great and there is nothing to speak about. I wish them to continue in that way. The experience we received during these audits was one of the greatest. We were participating in the process not just as a customer’s but almost as professionals who can notice almost everything in the store. Thanks to Ozzy Monaco for a great course.