"Participating member states should allow for a certain degree of debt mutualization," the paper said.
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"The tool can be designed without debt mutualization, and without permanent transfers between countries," he added.
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Despite the Commission's insistence that SBBS were not leading to mutualization of risks, Germans remained sceptical.
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They admitted the possibility of a debt mutualization instrument – Eurobonds, and the creation of a euro zone finance minister.
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" "A red line for us in coalition talks is the mutualization of debt in Europe, the creation of new pots of money.
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Instead, Mr. Dombrovskis said he hoped for gradual progress, increasing bank liquidity first before moving toward mutualization of debts, which remains a red line for Berlin.
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They also need some form of mutualization of debt—something like a Eurobond, because under the current system, each country is borrowing, in effect, a currency they don't control.
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But it also rules out the mutualization of debt in Europe and says that "solidarity" will only be possible if EU countries stick to the rules of the bloc's Growth and Stability Pact.
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"The fact that member states have significant influence on the quality of banks' balance sheets speaks against hasty mutualization of deposit protection in the euro zone," Weidmann said in remarks made in Rome.
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The European safe asset could be with full, partial or no mutualization of responsibilities for repayment, the Commission said, wary of the sensitivity of the issue for Germany, which vehemently opposed by Germany.
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The fund would not lead to permanent transfers or debt mutualization, because countries that receive funds during the bad times would need to pay them back once they recover — making it a revolving fund.
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MADRID (Reuters) - A common fiscal backstop for the single resolution fund and a common European deposit scheme (EDIS), with eventual full risk mutualization, are essential to cut links between banks and sovereigns, the Bank of Spain head said.
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One idea in the paper that did not involve any mutualization of debt was for a private or public institution to buy a portfolio of euro zone government bonds and issue its own bond backed by that portfolio.
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HELSINKI (Reuters) - The euro zone needs a way to share economic risks through a fiscal mechanism and through capital markets, the head of the euro zone bailout fund said, noting a euro zone budget did not have to entail debt mutualization or permanent transfers.
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"We reject [a separate euro zone budget as well as] the introduction of instruments that would lead to automatic transfers or a mutualization of debt," one passage reads, reflecting differences over whether to rule out French President Emmanuel Macron's idea for such a budget.
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The mutualization of debt via the issuance of a euro zone bond could bring down borrowing costs for the region's weaker countries like Greece but it is a thorny issue for Germany which currently has low borrowing costs and fears becoming responsible, and having to effectively underwrite, its weaker, riskier neighbors.
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But Kramp-Karrenbauer, know as AKK, said France and Germany could nonetheless find common ground on many of Macron's proposals, including on security and defense, asylum and climate policy, as well as boosting technological innovations in the EU. Just like Merkel, she rejected the idea of debt mutualization in the euro zone, reflecting entrenched resistance to any measures that could make German taxpayers liable for debts of their poorer peers.
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In 2020, il argues in favor of debt mutualization between France, Italy and Spain in the context of the Coronavirus crisis.
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Besides, for-profit mutualization platforms, commonly referred to as "Commercial Peer-to-peer Mutualization Systems" (CPMS) or, more colloquially, the sharing economy, represented a global market worth 15 billion dollars, in 2014; 29 billion dollars, in 2015; and are expected to reach 335 billion dollars by 2025. Many thinkers believe that collaborative economy, particularly in its commons-based peer production aspect, can cause major changes to the economic system of capitalism and reduce worldwide inequality..
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Mutualization or mutualisation is the process by which a joint stock company changes legal form to a mutual organization or a cooperative, so that the majority of the stock is owned by employees or customers.. Dictionary.com Demutualization or privatization is the reverse process.
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Introduction of an Austrian-inspired system to reduce the cost to employers of dismissing workers while seeking to maintain a high level of employee security (flexisecurity). The government proposed a mutualization of part of the compensation payments due by employers in case of laying off workers.
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The sharing economy is built on the sharing of underused assets, both tangible and intangible. If people start sharing these underused resources or services, this will decrease not only our physical waste but also our waste of resources. There are broadly two forms of collaborative consumption: (1) Mutualization or access systems: resource distribution systems in which individuals may provide and obtain temporary access to resources, either free or for a fee. Marketer-managed access schemes (e.g.
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On January 6, 1915, MetLife completed the mutualization process, changing from a stock life insurance company owned by individuals to a mutual company operating without external shareholders and for the benefit of policyholders. After 85 years as a mutual company, MetLife demutualized into a publicly traded company with an initial public offering in 2000. Through its subsidiaries and affiliates, MetLife holds leading market positions in the United States, Japan, Latin America, Asia's Pacific region, Europe, and the Middle East.
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Product-service systems refer to commercial peer- to-peer mutualization systems (CPMS), allowing consumers to engage in monetized exchanges through Social peer-to-peer processes for temporary access to goods. Goods that are privately owned can be shared or rented out via peer- to-peer marketplaces. For example, BMW's "DriveNow", established in 2011, is a car rental service that offers an alternative to owning a car. Users can access a car when and where they need one and pay for their usage by the minute.
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Demutualization is the process by which a customer-owned mutual organization (mutual) or co-operative changes legal form to a joint stock company. It is sometimes called stocking or privatization. As part of the demutualization process, members of a mutual usually receive a "windfall" payout, in the form of shares in the successor company, a cash payment, or a mixture of both. Mutualization or mutualisation is the opposite process, wherein a shareholder- owned company is converted into a mutual organization, typically through takeover by an existing mutual organization.
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Furthermore, re-mutualization depicts the process of aligning or refreshing the interest and objectives of the members of the mutual society. The mutual traditionally raises capital from its customer members in order to provide services to them (for example building societies, where members' savings enable the provision of mortgages to members). It redistributes some profits to its members. By contrast, a joint stock company raises capital from its shareholders and other financial sources in order to provide services to its customers, with profits or assets distributed to equity or debt investors.
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The new mutualized-bond market, worth some €2.3 trillion, would be paid off over the next 25 years. Each country would pledge a specified tax (such as a VAT surcharge) to provide the cash." However, so far German Chancellor Angela Merkel has opposed to all forms of mutualization. The Hungarian-American business magnate George Soros warns in "Does the Euro have a Future?" that there is no escape from the "gloomy scenario" of a prolonged European recession and the consequent threat to the Eurozone's political cohesion so long as "the authorities persist in their current course.
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The MetLife Building at 200 Park Avenue in New York City; it is no longer owned by MetLife In 2000, MetLife converted from a mutual insurance company operated for the benefit of its policyholders to a for-profit public company. The de- mutualization process allowed MetLife to enter unrelated insurance businesses and increase executive compensation. Policyholders received some stock in the new company in this process. MetLife was accused of breaching federal securities laws by misrepresenting and omitting information in materials given to policyholders during this process, resulting in years of litigation ending with a $50 million settlement in 2009.
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Hecker ultimately resigned in November 2009 over differences with the powerful Commerce Secretary at the time, Guillermo Moreno, and Vanoli thus became President of the CNV. Vanoli's tenure at the National Securities Commission was marked by a sustained growth in Buenos Aires Stock Exchange prices, as well as by numerous regulatory reforms. The most meaningful of these was the Capital Markets Reform Law of 2012, which sought to strengthen the CNV's watchdog role over rating agencies, IPOs, and mutualization (formerly left to private sector operators). The computer systems among the nation's several stock and commodity exchanges were integrated during Vanoli's tenure, with monitoring efforts shared with state-funded public universities and results made freely available to investors.
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The first detailed explanation of collaborative consumption in the modern era was contained in a paper from Marcus Felson and Joe L. Spaeth in 1978. It has regained a new impetus through information technology, especially Web 2.0, mobile technology and social media. A June 2018 study, using bibliometrics and network analysis, analyzed the evolution of scholarly research on collaborative consumption, and identified that this expression started in 2010 with Botsman and Rogers' (2010) book "What's mine is yours: The rise of collaborative consumption". The number of studies published on the subject then increased in 2014. Furthermore, there are four clusters of research: 1) exploration and conceptualization of collaborative consumption; 2) consumer behavior and marketing empiricism; 3) mutualization and sharing systems; 4) sustainability in the collaborative economy.
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Car2Go, Zipcar, Bixi) do not allow individuals to source resources, and are therefore not mutualization systems, whereas peer-to-peer renting sites or even toy-lending libraries, which allow consumers to provide resources, are. (2) Redistribution systems: resource distribution systems in which individuals may provide and obtain resources permanently, either free or for a fee. Focusing on redistribution systems only, the Canadian-based Kijiji Secondhand Economy Index of 2016, estimated that about 85% of consumers acquired or disposed of pre-owned goods through second-hand marketplaces (secondhand purchase and resale), donation, or barter, through either online or offline exchange channels. According to the Kijiji Secondhand Economy Index of 2015, the Canadian second-hand market, alone, was estimated at 230 billion dollars.
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The mutualization infrastructure is the name given in France to a computer database, managed by the DGSE, containing the following metadata: identities of communicating people, their location, the duration and frequencies of the communications, the volume of each communication, and the subject of the message for emails. This database would cover "all" Internet communications and telephony in France, which would be collected outside any legality (according to the daily Le Monde in July 2013). One reason given would be the fight against terrorism. According to the services of the French Prime Minister, the device would be legal under the 1991 law, and there would be no massive and permanent espionage of French citizens because each interception of communication would be subject to authorization of CNCIS.
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In 2012, Seehofer demanded that the German constitution be changed to permit referendums on decisions to deepen European integration and transfer powers to European institutions. That same year, he criticized International Monetary Fund managing director Christine Lagarde's proposal for measures that would result in a mutualization of Eurozone debt, arguing that shared liability for sovereign debt and a banking union would remove pressure from governments to carry out economic policy changes.Rainer Buergin (29 June 2012), Lagarde Wrong to Urge Mutualized Debt, Germany’s Seehofer Says Bloomberg Business. In 2013, Seehofer made Peter Gauweiler a deputy leader of the CSU in a bid to court the party's euro critics; however, Gauweiler quit after two years in protest against the extension of Greece's aid program.
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Like the "optimal mental health" blueprint, this blueprint requires that members of the relationship express affect to one another in order to identify progress. These blueprints can also describe natural and implicit goals. For example, Donald Nathanson uses the "affect" to create a narrative for one of his patients: > I suspect that the reason he refuses to watch movies is the sturdy fear of > enmeshment in the affect depicted on the screen; the affect mutualization > for which most of us frequent the movie theater is only another source of > discomfort for him. ... His refusal to risk the range of positive and > negative affect associated with sexuality robs any possible relationship of > one of its best opportunities to work on the first two rules of either the > Kelly or the Tomkins blueprint.
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" The recipe to this tricky combination of the limited federalization, greatly lies on mutualization for limiting the fiscal integration. In order for overindebted countries to stabilize the dwindling euro and economy, the overindebted countries require "access to money and for banks to have a "safe" euro-wide class of assets that is not tied to the fortunes of one country" which could be obtained by "narrower Eurobond that mutualises a limited amount of debt for a limited amount of time." The proposition made by German Council of Economic Experts provides detailed blue print to mutualize the current debts of all euro-zone economies above 60% of their GDP. Instead of the breakup and issuing new national governments bonds by individual euro-zone governments, "everybody, from Germany (debt: 81% of GDP) to Italy (120%) would issue only these joint bonds until their national debts fell to the 60% threshold.
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