Sovereign debt crises are a little like the weather: One can get ready to endure them and maybe take some steps to lessen their impact, but so far it hasn't been possible to prevent them. Like the weather, they just keep happening. That's the overriding thesis of this book tracing the major debt crises of the past century, starting with the Great Depression and running through the recent Great Recession. Written by a former World Bank expert on debt crises, this book discusses best practices for how such crises can be resolved. As the painful experience of the past decade reminded everyone, frequent debt crises and defaults do great damage to economies and cause vast personal hardship. But resolving them has proven difficult—both economically and politically—and has taken time, almost always requiring a lender of last resort such as a country's central bank or the International Monetary Fund. Too often, efforts to end debt crises have been little more than a palliative, and the debt overhang from one crisis contributes to the next, as illustrated by the ongoing saga in Greece. Both private and sovereign debts have increased substantially since the 2008 crisis, with inadequate deleveraging. This debt overhang leaves countries vulnerable and with limited maneuverability to address the next crisis. This book does not pretend to describe how debt crises can be prevented. But it does draw useful lessons from recent crises that can help economists, bankers, policymakers, and others resolve the inevitable future crises with the least possible damage.

Sovereign debt crises are a little like the weather: One can get ready to endure them and maybe take some steps to lessen their impact, but so far it hasn't been possible to prevent them. Like the weather, they just keep happening. That's the overriding thesis of this book tracing the major debt crises of the past century, starting with the Great Depression and running through the recent Great Recession. Written by a former World Bank expert on debt crises, this book discusses best practices for how such crises can be resolved. As the painful experience of the past decade reminded everyone, frequent debt crises and defaults do great damage to economies and cause vast personal hardship. But resolving them has proven difficult—both economically and politically—and has taken time, almost always requiring a lender of last resort such as a country's central bank or the International Monetary Fund. Too often, efforts to end debt crises have been little more than a palliative, and the debt overhang from one crisis contributes to the next, as illustrated by the ongoing saga in Greece. Both private and sovereign debts have increased substantially since the 2008 crisis, with inadequate deleveraging. This debt overhang leaves countries vulnerable and with limited maneuverability to address the next crisis. This book does not pretend to describe how debt crises can be prevented. But it does draw useful lessons from recent crises that can help economists, bankers, policymakers, and others resolve the inevitable future crises with the least possible damage.

Peaceful Revolution -- Post-Communist Transformation -- European Integration -- Sovereign Debt Debacle -- Migration Wave -- Brexit Self-Destruction -- Economic Competitiveness -- Restructured Welfare State -- Protected Environment -- Defense Disagreements -- Populist Backlash -- Global Role.

Crisis communication is high stakes work. For communications managers and PR professionals, it's likely to be the most stressful time of their working life. Crisis Communication Strategies is a must-have handbook which covers the whole span of the crisis from preparing and laying the groundwork before it occurs, during the incident, and the aftermath, including the move to recovery. It guides readers through each phase, providing details of what to consider, what should be done, and tips and checklists for improved responses. Crisis Communication Strategies equips readers to deal with any kind of crisis - whether caused by internal error, customer action, natural disasters, terrorism or political upheaval. Supported by case studies and examples from responses to events including the 2011 Norway terror attacks, the 2018 British Airways data breach, the 2017 Pepsi advert and the 2005 Hurricane Katrina New Orleans floods, the book explores the role of leadership in a crisis and developing a crisis communication response that has people at the heart of it. Crisis Communication Strategies is the essential guide for PR and communication professionals to protecting your company and building true, long-term resilience.

Eavesdrop on a top business leader to learn the secrets of great leadership Building People provides a glimpse into the mind of one of Asia’s keenest and most effective business leaders. Before becoming Chairman of Changi Airport Group and Surbana Jurong, author Mun Leong Liew was named Best CEO in Singapore, Best CEO in Asia, CEO of the Year, Outstanding CEO of the Year, and more—but his successes are not based strictly upon the numbers. This book reveals the personal and professional philosophy behind this extraordinarily effective leader, in the context of frank and insightful emails to his staff. Touching on everything from honour and potential to training and mentorship, these messages paint a clear picture of the difference between good and great leadership. Effective leaders build companies, but legendary leaders build people—by strengthening the heart of your organisation, you enable robust growth and dynamic stability from the inside out. These emails go beyond mere public relations to lay open the true nature of a man who is honestly, deeply committed to his job, his responsibility, his organisation, and most of all, his people. Learn why work-life balance is not a zero-sum game Discover what pragmatism and commitment truly mean in business Realise the importance of good partnerships and unsung heroes Manage change effectively and employ it wisely for sustainable success By eavesdropping on a leader’s communications with the people he serves, you get a real sense of the man behind the success. Great leadership is rooted in a philosophy of “building up” instead of tearing down, and motivated by the sincere belief that we bring our own purpose into everything we do. Building People brings great leadership to life, and inspires action over theory through the insights of Mun Leong Liew.

"Fiscal policy makers have faced an extraordinarily challenging environment over the last few years. At the outset of the global financial crisis, the International Monetary Fund (IMF) for the first time advocated a fiscal expansion across all countries able to afford it, a seeming departure from the long-held consensus among economists that monetary policy rather than fiscal policy was the appropriate response to fluctuations in economic activity. Since then, the IMF has emphasized that the speed of fiscal adjustment should be determined by the specific circumstances in each country. Its recommendation that deficit reduction proceed steadily, but gradually, positions the IMF between the fiscal doves (who argue for postponing fiscal adjustment altogether) and the fiscal hawks (who argue for a front-loaded adjustment). This volume brings together the analysis underpinning the IMF's position on the evolving role of fiscal policy. After establishing its analytical foundation, with chapters on such topics as fiscal risk and debt dynamics, the book analyzes the buildup of fiscal vulnerabilities before the crisis, presents the policy response during the crisis, discusses the fiscal outlook and policy challenges ahead, and offers lessons learned from the crisis and its aftermath. Topics discussed include a historical view of debt accumulation; the timing, size, and composition of fiscal stimulus packages in advanced and emerging economies; the heated debate surrounding the size of fiscal multipliers and the effectiveness of fiscal policy as a countercyclical tool; coordination of fiscal and monetary policies; the sovereign debt crisis in Europe; and institutional reform aimed at fostering fiscal discipline."--Publisher's description.