8 resultados para hidden reserves

em Archive of European Integration


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1. Even though Chechnya remains the most unstable republic in the Russian North Caucasus, the open armed conflict known as the Second Chechen War, which broke out in the autumn of 1999, is gradually dying down. 2. Several years ago, the conflict in Chechnya could have been characterised as a war between Chechen separatists and the government of the Russian Federation. However, the nature of the conflict has changed significantly over the last four or five years. 3. Even though the intensity of fighting in Chechnya has abated in recent years, the conflict has spilt over to the other Caucasus republics such as Ingushetia, Dagestan and Kabardino-Balkaria. As a result, this is presently not so much a Chechen conflict as a regional clash between the authorities and the Caucasian (including Chechen) Islamists. 4. The Chechen militants are weaker now, and the conflict has changed from a struggle for national liberation into a fight for the Islamic cause; but this does not mean that Russia has ultimately solved the problem of Chechen separatism.

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In May and June 1997, Germany's commitment to Economic and Monetaty Union (EMU) underwent its most serious test ever when the Bundesbank and the government of Chancellor Helmut Kohl dashed openly over the government's plans to revalue the country's gold reserves. Faced with a budget short-fall and strong political opposition to either tax increases or spending cuts, Finance Minister Waigel attempted to introduce a modest change in the Bundesbank's bookkeeping procedures to bring them in line with the standard practices at other European central banks. The Bundesbank resisted, arguing that the changes would infringe upon its closely guarded independence. This paper analyzes how the politics of coalition interacted with Germany's political institutions to cause this conflict.