The road to the 1980s write-downs of sovereign debt

The Latin American debt crisis consumed the 1980s and was not restricted to Latin America. Starting from the August 1982 Mexican weekend, the crisis had three phases: Concerted Lending (1982-5), Baker Plan (1985-9) and Brady Plan (1989 to mid 1990s). This article describes the evolution of the debt strategy and the road to embracing debt write-downs at the end of the decade. In the absence of an external coordinating mechanism, four groups of parties had to reach agreement on any change in the strategy: the borrowing countries, their commercial bank lenders, the home-country authorities of those lenders, and the International Monetary Fund as the principal international institution. Each group could effectively veto any change in the strategy. This need for consensus is lesson number one from the 1980s for today. Lesson number two is that political economy aspects dictated that the strategy be implemented on a case-by-case basis. The article concludes with an application of these lessons to a similar, but even more global, potential debt crisis in the wake of the COVID pandemic.

Medicine and athletics evolution

The article discusses the most popular type of Olympic movement — athletics. All stages of athletics formation and development are highlighted and described.A connection from ancient athleticism to modern Olympism is described, including the problem of globalization of sports and medical supervision.From the very beginning, athletics has established itself as an international sport in which men and women from all over the world participate.New trends of the late XX — early XXI century have a serious impact on various areas of modern life, including the sports industry and the Olympic movement.The communication revolution has brought not only benefits, but also created new problems. Based on the study of athletics development, it has been established that the Olympic movement remains an important international institution working to strengthen mutual understanding and cooperation between peoples.Further, the International Olympic Committee notes the expansion of educational work to spread the Olympic values and ideals of sport.The article is devoted to topical issues of the Olympic movement, which have a significant impact on social processes.

The Effects of the Judgment of the Grand Chamber of the Court of Justice of the European Union in Case C-83/19, C-127/19, C-195/19, C-291/19, C-355/19, C- 397/19.The Obligation of the Decisions of the Romanian Constitutional Court and the Supremacy of EU

The supremacy of the Constitution is therefore compatible with the application systems that give application preference to regulations from legislation other than national law, as long as the Constitution itself established this provision, which happens exactly with the provision provided in art. 93, which allows the transfer of powers resulting from the Constitution in favor of an international institution thus constitutionally empowered to regulate matters previously reserved for domestic powers and their application.

Brexit Dilemmas: Shaping Postwithdrawal Relations with a Leaving State

How do voters want their governments to respond when another country unilaterally withdraws from an international institution? We distinguish between negotiation approaches that vary in the degree to which they accommodate the withdrawing state's demands and argue that negotiation preferences are shaped by two issues. The first is voters’ exposure to the costs and benefits of accommodation. This exposure varies across issues, and we argue that citizens will generally prefer non-accommodation on zero-sum issues, but support more accommodation on cooperation issues, where non-accommodation puts existing cooperation gains at risk. Second, withdrawal negotiations create precedents, and citizens should therefore be less willing to accommodate the more they are concerned about the ripple effects of accommodation on the institution's stability. These concerns also confront citizens with two types of dilemmas depending on how favorably they view the institution themselves. To test our argument, we use survey evidence and a conjoint experiment conducted in Germany and Spain during the Brexit negotiations. We find that respondents overall are more willing to accommodate the UK on cooperation issues than on zero-sum issues, but also find evidence that Euroskeptics and Europhiles confront different issue-specific dilemmas. Our paper contributes to a better understanding of the dynamics surrounding the challenges to multilateralism that have proliferated in recent years.

Domestic institutional quality and the effectiveness of global Greenhouse gases mitigation

This study addressed the effectiveness of Kyoto Protocol (KP) as an international institution and the interplay of domestic institutions and KP by employing a difference-in-difference estimation. The results indicated low effectiveness, in general, but not ineffectiveness. Regarding the KP, not only its formal and defined rules but also the demonstration of the intention to cooperate was bound to influence emissions’ reduction. Domestic institutions were more influential than the effects of KP international institution. However, political, legal rights, and economic institutional qualities presented distinct effects over emissions’ mitigation.

Triads and The Abilities of Transnational Organized Crime to Prevail

AbstrakTransnational Organized Crime (TOC) adalah bentuk luas dari organisasi kejahatan yang dibentuk oleh sekelompok orang di wilayah tertentu. Dengan adanya globalisasi, perkembangan dari sebuah TOC bisa melewati batas-batas negara dan bahkan balik mengancam entitas dari negara tersebut. Satu hal yang membedakan TOC dengan organisasi kejahatan yang lain adalah struktur dan pola aktivitasnya yang rapi, seperti organisasi transnasional pada umumnya. Salah satu TOC yang melegenda sampai dengansekarang adalah kelompok mafa dari Cina, Triad. Sebagai organisasi kejahatan yang berumur panjang, berdiri sejak Dinasti Qing pada 1760-an, Triad memiliki banyak cabang yang tersebar di wilayah dengan populasi etnis Cina yang besar selain Cina sendiri seperti Taiwan, Hongkong, Singapura, Amerika Serikat dan Inggris. Melalui tulisan ini, penulis berusaha menjelaskan mengenai perkembangan Triad dari yang awalnya kelompok mafa menjadi kelompok yang memiliki tujuan bisnis seperti korporasi. Langgengnya kekuatan Triad sebagai sebuah organisasi kejahatan disebabkan juga banyaknya celah, baik diinstitusi domestik maupun institusi internasional. Celah tersebut dimanfaatkan secara baik oleh TOC untuk terus-menerus beraktivitas sampai sekarang.Kata-Kata Kunci: Organisasi Kejahatan Transnasional, TRIAD, Globalisasi, Mafia, KorporasiTransnational Organized Crime (TOC) is a widespread form of criminal organization formed by a group of people in a particular region. Because of globalization, the development of a TOC can cross the borders of the country and even turn against the entity of the state.One thing that distinguishes TOC from other crime organizations is, its neat structure and pattern of activities, such as transnational organizations in general. One of the legendary TOCs is the mafa group from China, Triad. As a long-lived crime organization, establishedsince the Qing Dynasty in the 1760s, Triad has many branchess cattered in areas with large Chinese ethnic populations other than China itself such as Taiwan, Hong Kong, Singapore, the United States and Britain. Through this paper, I’ll try to explain the development of the Triads, from a group that was originally a mafa to a group that has business objectives like a corporation. The lasting power of the Triads as a criminal organization is supported by the gap which happened in domestic and international institution. This gap is used properly by TOC to continue their activities until now.Keywords: Transnational Organized Crime, TRIAD, Globalization, Mafa, Corporation

Investment in Land Restoration: New Perspectives with Special Reference to Australia

Environmental services of biodiversity, clean water, etc., have been considered byproducts of farming and grazing, but population pressures and a move from rural to peri-urban areas are changing land use practices, reducing these services and increasing land degradation. A range of ecosystem markets have been reversing this damage, but these are not widely institutionalized, so land managers do not see them as “real” in the way they do for traditional food and fiber products. There are difficulties defining and monitoring non-food/fiber ecosystem services so they can be reliably marketed, and those markets that do operate usually do so in a piecemeal single product way in the interest of simplicity for the buyer, and seldom adequately regulate or compensate land managers for non-market benefits. New profitable uses of degraded water and regenerating land are emerging, but they require technology transfer or supply chain development to facilitate adoption. There is a need for a transformational change in the way land and water are used to promote a broader approach, so environmental services become a mainstream activity for land managers. A far-sighted Philanthropist is required to support an International institution to take up the challenge of institutionalizing such a ‘brokerage’ system to operate globally.