Greek Default of Sovereign debt Essay Example | Topics and Well Written Essays - 3500 words

Greek Default of Sovereign debt - Essay Example For some, such as the NAFTA (North American Free Trade Area), regional integration is based on establishing free trade zones. For others, such as the AU (African Union) and the EU (European Union), regional integration is based on political and economic cooperation (Sore, 2010). With the trend of regional and global integration, one of the emerging concepts is sovereign debt borrowing. Under this concept, a country can borrow a loan from another country or institutions. For example, a country that is experiencing financial problems such as growing budget deficits has the option of sovereign debt to address the problem. Some of these institutions include the World Bank, EU, and IMF (International Monetary Fund). Foreign debts are supposed to be paid as per the agreement. However, there have been cases of defaults in repayment. Usually, a country that is unable to repay its foreign debts on the agreed date can renegotiate the deal for an extension. The renegotiation option is not always a guarantee. A foreign debt default can cause adverse implications for the affected countries. In the past, such defaults have resulted in military invasions such as when the US occupied Haiti in 1915 (Huang, 2014). There have various foreign debt defaults since 2000. Some of these include: Apart from these cases, one of the largest and most recent foreign debt default occurred in 2012. Greece defaulted on its $138 billion foreign debt, which became the all-time biggest foreign debt default (Huang, 2014). The purpose of this paper is to present an in-depth analysis of the Greece sovereign default. The paper will present a detailed discussion of how the default came to be, what factors and actors contributed to it, the reactions of different stakeholders, the lessons drawn, and the way forward. The paper will present a background of the Greek debt crisis,

Creating a Climate of Ethical Behavior at Workplace Research Paper

Creating a Climate of Ethical Behavior at Workplace - Research Paper Example Knowledge sharing practices enable organizational members to share ideas and fully exploit knowledge-based sources. Personal commitment and trust is necessary because they help in knowledge management process. This paper will explore ethics in an organization as well as workplace safety-enhancing behaviors and qualities such as personal commitment and trust. Undoubtedly, ethical behavior significantly contributes to the success of many organizations. An ethical work climate is part of the organization and it is a representation of organizational practices that are viewed as right or wrong. Many individuals believe that an ethical work climate is indispensable for a good business. Notably, organizations striving for excellence and success in their business activities tend to focus on a strong ethical culture. Organizations need to effectively respond to both economic and non-economic surroundings in order to achieve their goals, but this requires members to be socially responsible and behave ethically. Truly, creating a working environment guided by ethics can be a very important move for an organization. In contrast, unethical behaviors negatively influence the organization. For instance, unethical behaviors are more likely to increase the organizations’ liability and financial risk. Secondly, consumers would not be attracted to the products and services of the organization with an unethical climate. More so, an unethical climate negatively affects the workers since it lowers job satisfaction and performance. In most cases, unethical behavior emerges from lack of knowledge and an inability to come up with ethical solutions (Patterson, 1989). Unethical behavior makes individuals become more sensitive to the likelihood of censure and this will in turn motivate them to avoid censure behaviors (Sinha, 1967). Therefore, it is very appropriate to institutionalize an ethical attitude in the organization. This paper provides a thoughtful

South Asian Sufism Research Paper Example | Topics and Well Written Essays - 750 words

South Asian Sufism - Research Paper Example This diversity has to a certain extent been created by the subcontinent?s numerous linguistic and cultural customs and its unique networks beyond the region. In terms of Islamic roots, Sufism has, in a way, played a key role in the spread of Islamic devotional and spiritual life in South Asia. At some stage in the eighth and ninth centuries A.D., a novel prominence began to grow within Islam. This prominence was a constructive response against the established uncongenial and ceremonial nature of Islam. The quest for deeper meaning started with a pietistic simplicity, which in turn led to the advance of the well-acknowledged mystical side of Islam - known as Tasawwuf or Sufism. Sufism is in essence a spiritual form of Islam focusing on the connection between the individual and divinity. The Sufis surfaced in South Asia around 800 years ago, and were initially stanch devotees, whose meager woolen attire signified their humility, hence the word â€Å"Sufi† that denotes Arabic wor d for wool. The Sufis sought the mysticism, divine realism or eventual truth that stands over all the fantasies and deceptions about the materialistic society. In order to attain ecstatic unification with God, Sufis integrated practices of sound and actions -- chanting and harmony, swaying and dance. Sufi followers joined in closed brotherhoods or tariqahs, each following a captivating leader (shaykh). They offered an Islam that fused South Asian customs and worship styles, including Christian saints and Hindu gods. Sufism highlights the importance of â€Å"Real†, as distinctive from a faint acceptance of what is considered to be real in everyday existence, by authentic comprehension of the self and the 'veils' which separate it from any understanding of the truth. (ELWELL-SUTTON). This also implies a quest for real existence. It also emphasized empathy from one soul to another, in spite of all other differences. The Sufi trend drew attraction throughout South Asia (as well a s Eurasia and Eastern Europe) can be recapitulated in Rafiq Zakaria?s book as: â€Å"Though unconcerned with affairs of state, the sufis had a profound influence on the Muslim polity. They humanized its rigours and reduced the area of conflict between religion and politics. They gave Islam a broader base. Non-Muslims flocked to sufi hospices in large numbers and in due course hundreds of thousands came into the fold of Islam. . . .† (Zakaria) Sufism: Spirituality or Libertarianism? Despite the fact that Sufism has been majorly identified as the spiritual and mystic extension of Islam, parts of literary research argues about the existence of Sufism as a political entity. For example, the way Sufis' tombs surfaced and grew as places of pilgrimage indicate that the ‘missionary’ agenda of the Islamic mystics was devised primarily for conversion and the establishment of Perso-Arabian cultural control in South Asia (R.Upadhyay). Despite of the cultural relevance of Suf ism, over the period of time, differences have also arisen from divergence of interests among Muslims over what should be the right standard for cultural and political life. As Sufism endorsed various forms of cultural articulation, it did not extend unilaterally as a response to orthodoxy and legalistic rigorism but from time to time it harmonized and engaged in these developments. In the same way, hostility between shari‘a (law) and tariqa (Sufi path) in Islam is an open topic of debate, although Sufi researchers emphasize that

British Airways Essay Example | Topics and Well Written Essays - 750 words

British Airways - Essay Example This is according to the chairman of British Airways from 1993 to 2004, lord Marshall of Knightsbridge. While the history of BA in its current structure and name began in 1976, its predecessors can be traced back to the late ‘10s. The first British Airlines, Aircraft Transport and Travel, was established in 1919, with the initial scheduled flight taking off on August the 25th from le Bourget to Honslow, its home. Two other airlines, Handley page and Instone, were established using modified bombers. The three companies underwent a period of great difficulty, especially competition from French airlines, which were cheaper. To solve these problems, they merged to be joined later by British Marine Air Navigation, forming Imperial Airways. Imperial Airways began local and overseas flights immediately, flying as far as Egypt and India with a crew of 250 and a fleet of 18 crafts (Gaskell, 2010). This paper is an essay on British Airways. Later, Imperial Airways was a Brisbane, Austral ia route, whose duration would take grueling 12 days. The new airline added new planes such as the short S.23 C-class model, which signified that the airline was growing, as was a new carrier British Airways limited (Gaskell, 2010). After the start of the 1st World War, these two merged to form British Overseas Airways Corporation, which re-started its transatlantic flights after the war ended. In addition, they created the BEA, a new airline to handle the European flights. At this point, the carriers needed to order new and more efficient aircraft. BOAC consequently ordered the Boeing Strato-cruiser, the Lockheed Constellation, and a Rolls-Royce engine equipped version of the DC-4. It did not take long before they ordered a jet plane, the De Havilland Comet, which dramatically reduced the length of trans-Atlantic flights (Marriott, 2010). The early 60’s saw BOAC order the Rolls-Royce Conway engine driven 707-436 to tide over until the VC-10s were ready. By 1970, with the fir st 747 and rapid growth, BOAC and BAL were ready to merge and work as one, establishing British Airways in 1976. BA’s most crucial year was 1976; it had a partnership with Concorde, coupled with big fleets of Lockheed TriStar and Boeing 747. The early 1980s saw the company face its second major threat, economic trouble, although measures were taken to privatize the company, which duly happened in 1987. Increasing competition from US based carriers also forced BAs hand in the merger with British Caledonian, which saw the A320 among other planes enter the fleet (Marriott, 2010). This merger further enabled BA to begin operations at Gatwick Airport. However, its base remained at Heathrow, where BA operates approximately forty percent of the total flights. In addition, the airline has created service stations in Birmingham, Glasgow and Manchester. British Airways has built its brand around fast travel, which has seen it at the forefront of jet travel. The first jets for short hau l flights were ordered in 1980, with forty four 737-200 planes delivered. New 737s were ordered in the late 80s, most of them being the 400-plane model with increased passenger capacity. Although not a choice of BA, the Airbus A320, entered the British Airways service after it merged with British Caledonian (Marriott, 2010). However, the planes proved quite efficient in their flights and duties. Medium haul flights were performed by the larger Boeing 757 fleet, as well as the 767, which were equipped with engines from Rolls-Royce. A number of Boeing 767-300ER in turn, performs long haul flights, which do not require huge passenger capacity. Most of these carry two hundred and fifty two passengers, with additional Boeing 777-200 and 747-400 complementing this segment. Recently, the company replaced all Boeing

How does globalization affect the environment Essay

How does globalization affect the environment - Essay Example One area of human life that has experienced heavy issues due to globalization is the environment in which human beings live. Policy makers, environmentalist and other stakeholders have attacked globalization for impacting human environment in a negative manner. Body Disadvantages One of the main impacts of globalization is that globalization has led to increase in the spending ability of all individuals and have led to elevation in the consumption levels of human beings and this has impacted the ecological system in a negative manner. Increase in income level have made people demand for more goods and services and this has led to decrease in the natural resources that are offered by the environment. With the increase in demand for goods and services, there has been an increase in the transfer of natural resources from one region to another. Before globalization started spreading, people used to be dependent on their local manufacturers and service providers for goods and services. No w due to decrease in boundaries, people have started demanding for goods and services that are developed in foreign regions. To transfer goods and services, heavy amount of fuel is consumed which has led to degradation of the environment due to increase in pollution. The fuel used in transportation of goods has led to increase in the amount of fossil fuels burned to produce fuel. ... s waste is being dumped in oceans and this dumping process has ruined the underwater life and has led to increase in chemicals being deposited to oceans. For example: during the period of 2010, oil spill from the containers of British Petroleum ended up damaging the ocean in a very negative manner and this happens to be one of the several harmful effects of globalization on the environment (Cook, 2010, p.214). Increase in industrialization along with globalization has led to an increase in the amount of chemicals that are dumped into soil and due to this several plants as well as weeds have been produced. The waste that is toxic in nature and is dumped in soil has severally damaged plant life and had interfered with the natural way of growth of plants. Throughout the world heavy cut down of forests are taking place as wood obtained from forests is used in production of several goods such as furniture and paper. Due to this, carbon dioxide in the environment has increased and release of oxygen by plants has decreased. Similarly, cut down of mountainous regions have even been conducted to create new roads and for real estate purposes and this has long term negative impacts on human health. Plastic is being heavily used throughout that world for several purposes such as packaging and this plastic is not renewable in nature. Plastic is used in then discarded in form of waste which is negatively impacting the environment. Plastic bags tend to enter water lines as well as beaches and as plastic waste is burned, it result in emission of fumes that are toxic in nature and these fumes tend to impact the environment in a negative manner. According to Savedge, more than 100,000 marine animals experience death or are murdered by animals as they dump plastic bags in oceans and

Professional Portfolio Assignment Example | Topics and Well Written Essays - 1500 words

Professional Portfolio - Assignment Example Correspondingly, I would provide a structured portfolio of mine, where I will include a brief description of my educational platform, learning theory along with curriculum map and the use of tools that I have initiated throughout the course of my learning as an educator. Professional Portfolio Educational Platform and Learning Theory Education is one of the most vital aspects of growth for any individual. Understanding the value of learning as the cornerstone of a successful life, individuals from various age groups and demographics have started taking participation in the educational sector. In this regard, the role of an educator has become quite prominent over the years owing to their significance in forming the educational career of an individual. As an educator, I feel esteemed to be rewarded with the opportunity to assist learners in developing their skills and abilities with regard to their competent areas. Correspondingly, in my professional experience, I was able to learn th at an ideal educator is of extreme need to develop the skills and capabilities that might be in need to provide a proper learning experience to the students. In consideration to all these facets, I desire myself to be in a professional career associated with education. ... Additionally, with reference to my desire of becoming an educator will always intend towards maintaining an atmosphere, which will encourage maximum concentration amid the learners and facilitate effective learning in-turn. It would also be vital to mention that I am quite appreciative towards adopting proper learning theories that would allow me to have proper control over the learning capabilities of the students. As per my experience, adoption of effective learning theory is quite important to facilitate learners’ effective performance. Out of the various principles of learning, I prefer Readiness, which depicts that a learner can be able to learn more when he/she is physically, mentally, as well as emotionally deciphers the yearning to learn. Correspondingly, adoption of such theory requires me to create interest among the students by presenting the value of a particular topic or a subject matter. In my professional career, I also emphasize posing continuous mental as well as physical challenges, with the intention to keep the learners’ interests intact for a longer period of time. Curriculum Map and Assessment Strategy Based on my personal and professional experiences, I was able to understand that setting efficient curriculum is among the major needs in the field of education. Educational institutions all over the world have well identified the needs to develop an effective curriculum where learners would be able to perform better. Correspondingly, the role of an educator is also vital in such cases. I, as an educator, understand this particular facet in my role and ensure best possible contribution towards the same. I was mainly engaged with the Master of Education

Substance use and mental health Essay Example | Topics and Well Written Essays - 1000 words

Substance use and mental health - Essay Example The list of substances that are abused is broad and the method and route of administration also vary. The problem with abusing substances however is not present only in young population but is more diffusely distributed in all ages and social groups. Most common substance abuse found in the same statistical analysis in the general population ranging between age of 16 and 74, that was reported by the participants themselves was cannabis (in 24 %), amphetamines were tried or used by 7 % of the cohort group, 5% ever in their life used magic mushrooms, about 4 % of the cohort population ever in their life used or are still using ecstasy, cocaine, LSD, tranquilizers were used by 3% of the population, other volatile substances and gases were used in 1% of the population and other substances like crack, heroin, steroids were also present in about 1%. There are also other substances that were used but are not listed in this text. Also we must have in mind that this study was based on the sel f-report of the participants so there is a possibility for even larger prevalence of these substances if we consider the population that didn’t report abuse of substances. ... iew Schedule CIS-R, where score above 12 is considered a sign of high probability for neurotic disorder in one person and in participants with score above 18 is considered that psychiatric treatment is necessary (Lewis et al, 1992). They also tested for disorders in the personality of the participants using the SCID-II (Semi-structured interview for making DSM-IV Axis II: Personality Disorder diagnoses). It is a set of questions that are completed by the participants in order to assess the personality disorder based on the Diagnostic and Statistical Manual of Mental  Disorders,  Fourth Edition (DSM-IV). They also used Schedules for Clinical Assessment in Neuropsychiatry manual to asses for psychosis or more severe psychiatric disorder in the participants. Based on these examinations it was found that abuse of substances was more common in participants who tested positive in some of the screening tests that were used. It was found that 12 % of the people who scored 12 or above on the CIS-R scale (some type of neurosis) had abused substances in the last month before the survey compared to 5% of the other population. Among the specific neuroses it was found that participants with suspicion for obsessive-compulsive disorder had the higher incidence of substance abuse in the previous month (15%). Most significantly it was found that 32% of the participants that were suspected for presence of anti-social personality disorder was found that were abusing some substance in the previous month before the survey. In the group of participants that were diagnosed with psychosis or other major psychiatric disorder no significance in incidence of abusing substances was found. Based on this study we can conclude that neurosis, antisocial personality disorder, obsessive-compulsive