Lieutenant Nun Essay Example | Topics and Well Written Essays - 500 words

Lieutenant Nun - Essay Example Her change of look was so profound that neither her father, nor her mother and uncle could recognize her. After turning into a man, Catalina did a lot of jobs, and other activities that no woman could be expected to do in her time. The second turning point in Catalina’s life came when she had signed up for selection in army and was hired as her own brother’s soldier. Like her mother, father and uncle, her brother also did not realize it was his sister serving him as a soldier. Particularly, Catalina regretted having killed her own brother as a result of her commitment to her friend who had asked her to kill his second. She personally viewed the funeral of her brother and seeked refuge in the church for months after that. As a soldier, she happened to learn fighting skills which she would later use in the bloody battle. The third turning point in the life of Catalina came when she was declared not only a woman, but essentially a virgin woman as a result of the medical ex amination she goes through to clarify the doubts of the bishop when she made the confession of being a woman to the bishop. The bishop promised to assist her. Therefore, she was sent to the nunnery, and the church, meanwhile, studied her history to know if she had ever considered becoming a nun in the future. Two years after that, when it was found out that she had never taken vows, Catalina was granted the status of a Spanish celebrity.

Central Banks & other International banks Assignment

Central Banks & other International banks - Assignment Example In some cases, the central government may place restrictions con how to hold and use foreign exchange or how to dispose local currency. 2. What did the central banks do to stabilize the financial systems in 2007–2009? In order to stop the financial crisis, central banks across the world followed plans that were almost parallel inaction. The eurozone, US and Britain central banks cut interest rates almost to zero, injected capital in the markets (through massive stimulus programs) and guaranteed bank lending (Allen, 2008). These actions were taken in a bid to restore investor confidence and liquidity. In some nations, the central governments have endeavored to coordinate debt issuance with an aim of avoiding the destabilization of their financial markets. 3. In an effort to stabilize the financial system how much money, in U.S. dollar equivalent and as a percentage of the country's GDP, did the European Central Bank, Bank of England, Bank of China, and the Federal Reserve put i nto the economy in 2008 and 2009? The Central banks responses to the financial crisis were quick and dramatic. The US pumped close to one trillion USD in total in 2008 and 2009 in two massive stimulus packages. In the final quarter of 2008, the European Central Bank and the US Federal Reserve purchased about 2.5 trillion USD worth of government debt and private assets from banks (Spiegel, 2008). Today, the US has spent about 11 trillion USD to the financial crisis about 9.8 trillion USD going to troubled US corporate entities including JPMorgan Chase and General Motors. About 1.2 trillion USD has been set for use in the countries stimulus programs. Of the 9.8 trillion USD, about 6.4 trillion USD is set to be used in Federal Reserve Rescue Efforts. The Bank of China in 2008pledged to release 586 billion USD in the domestic market to stimulate the country’s economy (Morrison, 2009). 4. How well did each country's efforts work at stabilizing the economy? The central banks of mos t countries have worked in coordination with their counterparts elsewhere cutting short term interest rates. Even the People's Bank of China joined the major economies in cutting interest rates. The central bank interventions worked positively for all the countries in mitigating the effects of the financial crisis. In fact, the effects of the crisis have continued to dwindle over time. 5. What appears to be the major constraint that the central banks used to determine the limits of the monetary injections into the economy? The US assumed a most proactive role in tackling the financial crisis. The Federal Reserve has mainly applied interest rate changes to stop the financial crisis from having greater effects on the economy – more than any other central bank. The bank’s interest rate has been reduced from about 5.3% in September, 2007 to about 1.4% over the last couple of months (Senanayake, 2009). 6. Did the United States use the same or different criteria? Through thi s action, the bank has managed to shelve away worries related to high inflation rates. The US applied interest rate reduction, stimulus packages and a relaxed monetary policy like the other central banks albeit more proactively. By lowering interest rates, the supply of money in the market got to increase thereby reducing inflation and panic in the market. 7. To what extent to do you agree/disagree with the actions of