So if the euro, if Euroland is to become a reserve center, if the euro is to become a reserve currency, Euroland will have to have a deficit in its overall balance of payments.
High kitsch, whatever else may be said of it, cannot be openly dismissed as cheap.
Building trust means thinking about trust in a positive way.
Familiarity can no longer be a necessary condition for trust.
Love can be understood only “from the inside,” as a language can be understood only by someone who speaks it, as a world can be understood only by someone who lives in it.
Chances are the movements of the euro as against the dollar will be relatively moderate.
The dollar is currently the principal reserve currency in the world.
Many people are blind to trust, not so much to its benefits as to its nature and the practices that make it possible.
True, trust necessarily carries with it uncertainties, but we must force ourselves to think about these uncertainties as possibilities and opportunities, not as liabilities.
Trust and the ability to identify trustworthiness are not the same thing, although trust and trustworthiness are logically linked.
Trust is a skill learned over time so that, like a well-trained athlete, one makes the right moves, usually without much reflection.
Trust is a skill, one that is an aspect of virtually all human practices, cultures, and relationships.
We also confuse trust with familiarity.
There’s a stability and growth pact which was agreed for the eleven countries which tries to limit the size of budget deficits among the eleven countries.
Building trust begins with an appreciation and understanding of trust, but it also requires practice and practices.
Some countries that are close to Europe that already hold Deutschemarks, clearly would automatically hold euros, those are countries in Eastern Europe mainly, a few countries in Africa.
Another question has been raised rather widely in Europe, in Japan as well as in the United States is what, to what extent will the euro become a reserve currency.
The major material advantage, financial advantage from having a reserve currency is that between 200 and 300 billion dollar bills, that may be twenty, fifty, hundred dollar bills as well as ones, exist in the world – a lot of them in Russia as you all know I’m sure.
The prices of all imports would rise if the dollar depreciates.
The thoroughly guilty man has an advantage over all of us; he cannot be found more guilty of anything, since he has already found himself guilty of everything. This may sound like an absurdity – causing oneself extreme pain in order not to feel any number of little pains of lesser guilts and shames, but it has its own logic. A man more easily adapts to what he inflicts upon himself; as to his own judgement, he is already committed to it and willing to live with it.
A woman’s death, through much of the same history, was thought to be a simpler thing, preferably quiet and uncomplaining, or tragically in childbirth. Just as women were denied the right and the capacity to a full life, they were denied the right and the capacity to a full death as well.