Reactions to the end of the Sri Lankan Civil War

Reactions to the end of the Sri Lankan Civil War on 18 May 2009 have generally been positive and welcoming, while some countries expressed concern over the civilian casualties and the humanitarian impact.
Sri Lanka.
Streets were filled with joyous scenes of jubilation. United National Party leader Ranil Wickremasinghe, through a telephone call, congratulated President Mahinda Rajapaksa and the state's security forces on 18 May 2009 for their victory over the LTTE. In a press release issued that day, Roman Catholic Archbishop Oswald Gomis said:
With the announced end of the war, Sri Lanka's stock exchange registered its sixth highest percentage gain ever.
International organisations.
 – At a press conference in Geneva on 19 May 2009, United Nations Secretary General Ban Ki-moon said, "I am relieved by the conclusion of the military operation, but I am deeply troubled by the loss of so many civilian lives. The task now facing the people of Sri Lanka is immense and requires all hands. It is most important that every effort be undertaken to begin a process of healing and national reconciliation. I listened very carefully to what President Rajapaksa said in his address to Parliament today. The legitimate concerns and aspirations of the Tamil people and other minorities must be fully addressed." The Secretary General went on to announce his upcoming visit to the wartorn region.
 – The European Council met in Brussels on 18 May 2009, during which it adopted a statement calling on "the Government of Sri Lanka urgently to proceed towards a comprehensive political process" and "the President of Sri Lanka to outline a clear process leading to a fully inclusive political solution, based on consent, equality and the rule of law". The Council stated that such moves are the only way toward long-term security, post-conflict reconstruction and prosperity in Sri Lanka. The statement concluded: "The EU continues to call for appropriate action by the United Nations Human Rights Council." The Times reported that EU member nations sold arms to the Sri Lankan government in spite of fears of human rights abuses.
Other countries.
Asia.
 – The Indian Ministry of External Affairs issued a statement on 18 May 2009 saying "In a telephone conversation with External Affairs Minister Shri Pranab Mukherjee earlier today, the President of Sri Lanka confirmed that armed resistance by the LTTE has come to an end and that LTTE leader Velupillai Prabhakaran is dead. India will work with the people and Government of Sri Lanka to provide relief to those affected by the tragic conflict, and to rapidly rehabilitate all those who have been displaced, bringing their lives to normalcy as soon as possible. It is our view that as the conventional conflict in Sri Lanka comes to an end, this is the moment when the root causes of conflict in Sri Lanka can be addressed. This would include political steps towards the effective devolution of power within the Sri Lankan Constitution so that Sri Lankans of all communities, including the Tamils, can feel at home and lead lives of dignity of their own free will."
 – Foreign Minister of the Islamic Republic of Iran Manouchehr Mottaki telephoned Foreign Minister Rohitha Bogollagama on 19 May 2009 to extend his warm congratulations to the President, the Foreign Minister and the Government of Sri Lanka on the success achieved by Sri Lanka in defeating LTTE terrorism. "Iran has maintained close relations with Sri Lanka and has always condemned terrorism and, consistently upheld the sovereignty and the territorial integrity of Sri Lanka". He states that he was speaking on behalf of the President of Iran who has conveyed his best wishes to Sri Lanka and will personally speak to the President of Sri Lanka at a mutually convenient time. Iran has also offered assistance through the Red Crescent, for the emergency relief operations for the IDPs in the North.
 – The Japanese premier's office released a statement of Prime Minister Taro Aso's telephone conversation with Sri Lankan President Mahinda Rajapaksa. The statement said the Prime Minister "welcomed the end of the civil war between the Sri Lankan government and the Liberation Tigers of Tamil Eelam", and that "it is now important to help internally displaced people and their resettlement as well as to start showing improvement in the political process towards peace-building". It also outlined that poverty was one of the factors that create fertile ground for terrorism and said he would like to see Sri Lanka build infrastructure, adding that Japan would support Sri Lanka's efforts as much as possible.
 – Both President Mohamed Nasheed and Vice-president Mohammed Waheed Hassan congratulated the government and people of Sri Lanka for their tremendous success in effecting an end to the decades-old conflict in their country. The President reaffirmed continued their support and solidarity with the government and people of Sri Lanka, as Sri Lanka celebrates as a unified nation. "I take this opportunity to express on behalf of the Government and the people of Maldives our sincerest best wishes to Your Excellency and the people of Sri Lanka". "This momentous occasion in Sri Lanka’s history will pave the way towards realising greater equality and justice for all Sri Lankans."
 – Minister of State for Foreign Affairs of Pakistan, Nawabzada Malik Amad Khan telephoned Deputy Minister of Foreign Affairs of Sri Lanka, Hussein A. Bhaila congratulating Sri Lanka's "great victory over terrorism". The Pakistani State Minister stated that Pakistan has always been a steadfast friend of Sri Lanka and strongly supported the country's unity, sovereignty and territorial integrity and re-affirmed his government's continued cooperation with Sri Lanka in countering terrorism. He requested the Deputy Minister to convey his good wishes and felicitations to President Mahinda Rajapaksa and Foreign Minister, Rohitha Bogollagama.
 – A Department of Foreign Affairs press release, dated 22 May 2009: "welcomes the return of law and order in northern Sri Lanka and supports the Government of Sri Lanka’s search for a comprehensive, fair, and lasting political solution to the problems faced by its Tamil minority. The Philippines hopes that a lasting political solution will be crafted in order that the Tamil minority share in the fruits of peace in their country."
 – The Singapore Ministry of Foreign Affairs issued the following statement 29 May 2009 after Minister for Foreign Affairs George Yeo met Sri Lankan Minister of Foreign Affairs Rohitha Bogollagama at the Shangri-La Dialogue held in Singapore: "Singapore is relieved to see an end to the long-standing conflict in Sri Lanka. The conflict had taken a great toll on the country. Not only have tens of thousands of lives been lost, but hundreds of thousands of Sri Lankan civilians have also been displaced from their homes. The final cessation of military operations by the Sri Lankan Government provides a short window of opportunity to close a sad chapter of history and quickly begin a process of genuine national healing and reconciliation. A long term agreement taking into full consideration the interests of all communities within Sri Lanka must be forged and implemented to ensure a lasting peace." George Yeo congratulated Rohitha Bogollagama and the Sri Lankan government on the victory over LTTE terrorists.
 – The president of Sri Lanka, Mahinda Rajapaksa, telephoned the president of Turkey, Abdullah Gül. The conversation was released by the Turkish Presidency Media Center. The Sri Lankan president informed Gül about the recent achievements in the fight against terrorism. President Gül stated that he was pleased with the recent events and Turkey was ready to provide humanitarian aid, in the telephone conversation.
 – On 21 May 2009, Foreign Affairs Ministry spokesman Le Dung released the following statement in response to journalist inquiries: "Vietnam welcomes the recent victory of the Government and people of Sri Lanka. This victory will create favorable conditions for Sri Lanka to concentrate on the cause of national construction and development, contributing to peace, stability and development in the region."
Africa.
 – The South African government released a statement through Deputy International Relations and Cooperation Minister Ehrahim Ebrahim regarding the end of military operations in Sri Lanka. "The South African government expresses grave regret at the manner in which the military offensive was conducted and urges the United Nations Human Rights Commission to urgently investigate possible violations of international human rights law and contraventions of the Geneva Convention.", said Ebrahim. The statement also called for immediate humanitarian aid and international media access to the areas affected. "The South African government has noted the conciliatory tone in the speech of President Mahinda Rajapaksa on 19 May 2009 and express our hope that the end of the military campaign will result in a peaceful dialogue with all minorities to address their long standing grievances. We will continue to support any efforts aimed at bringing about peace and reconciliation between the parties."
Europe.
 – Norwegian Foreign Minister Jonas Gahr Store said in a statement "our thoughts go to all who have lost relatives and loved ones in the war. We must cooperate to aid the victims. People in the refugee camps must quickly be allowed to return home." Store also said the situation in the refugee camps for internally displaced people must be improved, in line with demands made by the United Nations.
 – "The government of Russia has extended warmest congratulations to the president and the government of Sri Lanka on the success achieved by the island nation in defeating LTTE (Liberation Tigers of Tamil Eelam) terrorism," the Department of Government Information said in a statement. Officials from Sri Lanka's Foreign Ministry said Russia has said that it supports the fight of the Sri Lankan government against terrorism and separatism. Russia hoped that the end to the bloody armed conflict that lasted in Sri Lanka for more than a quarter century will be a guarantee of the establishment of an enduring peace, security and stability in the country.
 – In a press statement dated 19 May 2009, Switzerland's government welcomed the end of the armed conflict. However, Switzerland "regrets that international humanitarian law has been violated and appeals to all parties to comply with and to ensure respect for international regulations and obligations in all circumstances. Switzerland calls on all parties to refrain from incitement to hatred and to work towards reconciliation by means of unilateral or jointly agreed measures. All parties and groupings as well as members of the diaspora should work openly and in conjunction with international institutions to initiate a reconciliation process and a sustainable solution in the framework of a political dialogue."
 – Foreign Secretary David Miliband made the following written statement to the House of Commons on 19 May 2009: "On 19 May, the Sri Lankan President formally announced that on 18 May military forces had retaken all the territory once held by the LTTE and that they had captured or killed the senior leadership of that organisation. Many Sri Lankans of all communities, Sinhalese, Tamil and Muslim, will be relieved that the long and brutal conflict may at last be over. Sri Lanka has before it an historic opportunity to resolve the underlying causes of the conflict and ensure a lasting peace. We must continue to work with Sri Lanka’s Government and all its communities to ensure that this opportunity is taken and that it leads to a sustainable end to the conflict. The continuing focus of this Government’s activity over the coming days and weeks, will be to work with international partners in encouraging the Sri Lankan Government to devote as much energy to winning the peace as it did to winning the war."
Lord Malloch Brown, the Minister of State Foreign and Commonwealth office in UK said, in the House of Lords, "Indeed, in our initial contacts with the president, we congratulated him on finishing of a brutal 26-year war, which was instigated by the Tamil Tigers-a terrorist group" replying to Lord Naseby who raised the matter in the House of Lords. Agreeing with Lord Naseby, Lord Malloch Brown said, "the political solution to this must come from inside Sri Lanka from a process set up and led by President Rajapaksa." Speaking further, Brown said, "But we also made it extremely clear to him that, whether or not that victory would be seen as the opening of a new and happier chapter in Sri Lanka depended on whether he could now go that next step and show the statesmanship to find a political as well as humanitarian solution to this community's issues." He further said, "On 17 May, the Prime Minister announced an additional œ5 million in humanitarian aid for Sri Lanka, taking the total to œ12.5 million since September 2008." Speaking before him Lord Naseby said, "My Lords, have Her Majesty's Government congratulated the Sri Lankan Government on defeating the Tamil Tigers and bringing peace to the country? On the international front, is it Her Majesty's Government's policy primarily to tackle the resettlement of the 250,000 Tamils and the 100,000 Muslims who were ethnically cleansed from Jaffna, or is it to continue to lecture that there should be a constitutional settlement, which really rests with the Parliament of Sri Lanka?"
Americas.
 – Minister of Foreign Affairs Lawrence Cannon stated "Canadians are very concerned about the aftermath of the military action in Sri Lanka and the appalling effect it has had on civilians. This terrible, decades-long war has inflicted untold devastation and heartbreak on Sri Lankans. The Government of Canada wishes to express its concerns about civilian casualties, and to convey its condolences to the people of Sri Lanka and those around the world who have lost friends and family members in this horrific conflict. Canada urges the Government of Sri Lanka to begin to find a long-term political solution that responds to the legitimate aspirations of all the people of Sri Lanka. Canada is prepared to assist Sri Lankan efforts to find political reconciliation and a lasting peace."
 – At a press conference in Washington, D.C., on 18 May 2009, United States Department of State spokesman Ian Kelly said: "The Department of State welcomes the fact that the fighting has ended, and we are relieved that the immense loss of life and killing of innocent civilians appears to be over. This is an opportunity for Sri Lanka to turn the page on its past and build a Sri Lanka rooted in democracy, tolerance, and respect for human rights. Now is the time for the government to engage the Tamils, Sinhalese, and other Sri Lankans to create a political arrangement that promotes and protects the rights of all Sri Lankans. It is also vital for the government to provide for the needs of the 280,000 civilians now living in relief camps. Providing food, water, shelter, basic health care, and sanitation, as well as expediting their return to their homes should be a top priority for the government."
The Sri Lankan defence ministry said that US Ambassador to Sri Lanka Robert O. Blake, Jr., called Foreign Minister Rohitha Bogollagama on 18 May 2009 regarding humanitarian aid to displaced persons and reconciliation with the Tamil people.


Ali Ibrahim Jama

Ali Ibrahim Jama (, : born. 26 June 1956), also known as Ali Baghdadi, is a Somali central banker who has been Governor of the Central Bank of Somaliland since 5 July 2018.


Norwalk River Railroad Bridge

The Norwalk River Railroad Bridge (also known as the Walk Bridge) is a swing bridge built in 1896 for the New York, New Haven and Hartford Railroad. It currently carries Amtrak and Metro-North Railroad trains over the Norwalk River.
In 1896, the New Haven Railroad built the bridge and widened its route to four tracks, as it simultaneously built its South Norwalk Railroad Bridge over the intersection of Washington Street with North Main and South Main streets. The span, with a rotating swing span long was provided by the Berlin Iron Bridge Co. This type of swing bridge is one of just two on the Northeast Corridor. The swing span has a rim-bearing system of 96 rollers, allowing tall vessels to pass by. The span is one of only 13 of the company's bridges (and one of only two railroad bridges) that survive in the state as of August 2001. In 1907 the rail line was electrified with overhead catenary wires, which form a prominent feature of the bridge today. It is or was also known as Norwalk River Bridge. It was added to the National Register of Historic Places in 1987.
It is one of eight moveable bridges on the Amtrak route through Connecticut surveyed in one multiple property study in 1986. The eight bridges from west to east are: Mianus River Railroad Bridge at Cos Cob, built in 1904; the Norwalk River Railroad Bridge at Norwalk, 1896; Saugatuck River Railroad Bridge at Westport, 1905; Pequonnock River Railroad Bridge at Bridgeport, 1902; Housatonic River Railroad Bridge, at Devon, 1905; Connecticut River Railroad Bridge, Old Saybrook-Old Lyme, 1907; Niantic River Bridge, East Lyme-Waterford, 1907; and Thames River Bridge (Amtrak), Groton, built in 1919.
As a single movable span with aging mechanical mechanisms, the Norwalk River Bridge represents a frequent point of failure for Amtrak and Metro-North service and has been targeted for replacement with dual movable spans. The final design approved for the new Walk Bridge calls for a dual-span vertical-lift bridge.


Makova (Hasidic dynasty)

Makova () is a Hasidic dynasty originating from the city of Makó, Hungary, where it was founded by Rabbi Moshe Vorhand (1862–1944). Today the dynasty is centered in Kiryat Ata, Israel, with smaller communities in Bnei Brak, Ashdod, Elad and Boro Park, United States. The dynasty is currently headed by Rabbi Shimon Lemberger.


CaixaBank

CaixaBank, S.A. (), formerly Criteria CaixaCorp, is a Spanish multinational financial services company owned by CriteriaCaixa with a 40% stake. CaixaBank is based in Valencia, Madrid and Barcelona in Spain. It is Spain's third-largest lender by market value, after Banco Santander and BBVA. CaixaBank has 5,397 branches to serve its 15.8 million customers, and has the most extensive branch network in the Spanish market. It is listed in the Bolsa de Madrid and is part of the IBEX 35.
The company consists of the universal banking and insurance activities of the La Caixa group, along with the group's stakes in the oil and gas firm Repsol, the telecommunications company Telefónica and its holdings in several other financial institutions.
History.
The firm was formed in 2007 as Criteria CaixaCorp, a publicly traded vehicle for La Caixa's shareholdings and investments in both industrial and financial services companies. At the time of its 2007 debut, the Criteria CaixaCorp initial public offering was the largest-ever in Spain. The company was promoted to the IBEX 35 index in January 2008.
A 2011 restructuring of the companies of the group saw Criteria renamed CaixaBank as La Caixa's banking and insurance activities were merged into it. At the same time most of the industrial stakes held by Criteria (including Grupo Port Aventura, Grupo Agbar, Gas Natural and Abertis) were transferred out of the firm to the new entity Criteria CaixaHolding, 100% owned by La Caixa. CaixaBank retained stakes in Repsol YPF and Telefónica as well as all of its holdings in other financial services companies.
On 26 March 2012 CaixaBank announced its intention to merge with Banca Cívica, valuing Civica at 977 million euro. The merger was completed in the 3rd quarter of the year and created the largest bank in Spain.
On 27 November 2012, CaixaBank announced its plan to buy nationalized bank Banco de Valencia after Spain's bank restructuring fund called FROB injects €4.5 billion into Banco de Valencia. The FROB also assumed losses of up to 72.5% for a period of ten years in certain assets held by Banco de Valencia.
On 26 September 2013, CaixaBank approved the sale of its real estate unit Servihabitat to a joint venture between the bank and private equity fund Texas Pacific Group (TPG) for an initial price of €310 million. CaixaBank's parent company, financial group La Caixa, said it estimated it would bring in 317 million euros in capital gains from the deal.
In June 2014 CaixaBank's Board of Directors appointed Gonzalo Gortázar as their new CEO, having approved the resignation by mutual consent of Juan María Nin as Deputy Chairman and CEO. In his first interview since becoming CEO, Gonzalo Gortázar stated "There are a number of priorities for CaixaBank. The first one is dealing with the last legs of the crisis. We want to normalize the balance sheet and we want to normalize funding costs."
On 6 October 2017, the bank announced its decision to move its legal headquarters to Valencia as a response to political uncertainty in Catalonia. A few days later the bank decided to also move its fiscal domicile to Valencia.
On 4 September 2020, it was confirmed that CaixaBank and Bankia are negotiating for a potential merger. The merger would create the biggest domestic bank in Spain with a worth of €650 billion.
2008-2013 Spanish Financial Crisis.
Fund for Orderly Bank Restructuring (FROB), a banking bailout and reconstruction program initiated by the Spanish government in June 2009, facilitated the merger between CaixaBank and Banco de Valencia on 27 November 2012.
With competitors such as Banco Santander SA with 4,752 Spanish branches, CaixaBank announced it is conducting a "gradual process" of adjusting its branch networks on 9 January 2013.
CaixaBank SA sold 13.1 billion pesos of shares in Grupo Financiero Inbursa SAB to both bolster trading in the Mexican lender controlled by billionaire Carlos Slim and replenish money lost amid Spain's property crash.


Nigel Trench, 7th Baron Ashtown

Nigel Clive Cosby Trench, 7th Baron Ashtown, (27 October 1916 – 6 March 2010) was a British peer and diplomat.
Trench was born in St Albans, the son of Clive Newcome Trench and Kathleen Maud Marion McIvor. He was educated at Eton and Corpus Christi College, Cambridge.
After rising to the rank of Major in the King's Royal Rifle Corps during the Second World War, Trench spent some thirty years in the British foreign service, with postings which included Tokyo and Washington D.C., before serving as British Ambassador to the Republic of Korea (1969–71) and then to Portugal (1974–76).
In 1990, after his retirement, he inherited the Irish peerage of Baron Ashtown from his cousin Christopher Trench, 6th Baron Ashtown.
Honours.
Trench was appointed a Commander of the Order of St. Michael and St. George in the 1966 Birthday Honours. He was knighted in the same order in the 1976 Birthday Honours.
Personal life.
He married Marcelle Catherine Clotterbooke Patijn van Kloetinge in 1939, with whom he had one son, Roderick Trench, 8th Baron Ashtown. He succeeded a cousin as Baron Ashtown in 1990. His wife died in 1994.
Lord Ashtown then married Dorothea Mary Elizabeth Minchin (d. 20 December 2019), former wife of Hans Heinrich XVII, 4th Prince of Pless, in 1997.
He died in London in 2010 and was succeeded as Baron Ashtown by his son, Roderick.


Income tax in European countries


John Crow

John William Crow (born 22 January 1937) was the fifth Governor of the Bank of Canada from 1987 to 1994, succeeding Gerald Bouey. He was succeeded by Gordon Thiessen.
Born in London, England, he went to Parmiter's School also he served with the Royal Air Force for two years before receiving a degree in Philosophy, Politics and Economics from the University of Oxford in 1961. He spent the next decade at the International Monetary Fund and was appointed Chief of the North American division in 1970.
In 1973, he joined the research department of the Bank of Canada as Deputy Chief and became chief about a year later. He was appointed Adviser to the Governor in 1979 and Deputy Governor in May 1981.
He was a director of Placer Dome from 1999 until it was acquired by Barrick Gold in 2006. He is also the president of J&R Crow Inc.
In 2009, he was made an Officer of the Order of Canada "for his leadership in the area of Canada’s monetary policy, notably as governor of the Bank of Canada, and for his involvement with the International Monetary Fund".


Patricia P. Hickerson

Patricia Parsons Hickerson (born September 15, 1942) is a retired major general in the United States Army. She served for 32 years and was Adjutant General of the Army from 1991 to 1994. Upon her retirement in 2001, Hickerson held the rank of major general, the third woman in United States Army history to receive her second star, and the senior woman officer in the army.
Early life and education.
Patricia Parsons Hickerson was born on September 15, 1942 in Louisville, Kentucky, to John Millard and Rose Parsons. She attended Converse College where she received a Bachelor of Music in 1964 and later a Master of Music in 1966 as she was a classically trained flutist. Prior to her military service, she worked as a school teacher. She also graduated from the Leadership for Executives, Center for Creative Leadership along with the Program for Senior Executives, John F. Kennedy School of Government, Harvard University.
Military career.
After attending Converse, Hickerson participated in and graduated from the Women's Army Corps Office Basic Course in 1968, commissioning in the United States Army as a second lieutenant. When the military ended the draft in 1972, the United States Army was in need of more officers in their ranks as the Vietnam War lasted through 1975. This left an employment gap for women to fill and Hickerson fit the bill. The same year she was promoted to first lieutenant moving her way up in the ranks through her continued work and military education. She first began working as an assistant manpower control officer within the Manpower Control Division in the Military District in Washington from 1968 to 1969. Hickerson moved on to become the commander of the 14th Army Band, the only all-female band in United States military history, as a part of the United States Women’s Army Corps at Fort McClellan, Alabama from 1970 to 1972. She went on to attend the Infantry Officer Advanced Course in 1973 and became one of the first two women to complete the course at Fort Benning, Georgia. After the success of Infantry school, Hickerson became a branch advisor in a Combat Service Support Branch Readiness Group in Fort Gillem, Georgia from 1973 to 1975. Hickerson went on to become an Admissions Officer at the United States Military Academy (USMA) for two years. This marked the first female officer to be on staff in the Long Grey Line's history. Her influence helped pave the way to making USMA coeducational, as the first two female cadets were admitted during her time at West Point. After her time at West Point, Hickerson attended the United States Army Command and General Staff College in 1978. She then deployed to Korea as a personal management officer in the United States Army Military Personnel Center from 1978 to 1979 and became the Deputy Chief of Staff for Personnel in the 2nd Infantry Division from 1979 to 1980.
Upon Hickerson's return to the United States, she returned to Alexandria, Virginia, for a year and moved to the Office of Assistant Secretary of Army for Manpower & Reserve Affairs from 1982 to 1983. Shortly after, Hickerson deployed overseas to Europe where she served as chief personnel actions division in the VII Corps and as the commander of the 38th Personnel and Administration Battalion from 1984 to 1986. At this point, Hickerson had become the first female command a VII Corps battalion. Following her stint in Europe, Hickerson moved back to Washington in the Office of the Joint Chief of Staff acting as the administrative assistant to chairman of Joints Chiefs of Staff from 1987 to 1989. While serving with the Joint Chief of Staff she attended and graduated from the National War College. In 1989, Hickerson returned to her alma mater where she received her honorary Doctor of Public Service. Hickerson then got stationed at United States Military Entrance Processing Command in North Chicago as the commander central sector from 1989 to 1991. She was then moved back to Alexandria where she was the adjutant general of the United States Total Army Personnel Command and later the commander of the United States Army Physical Disability Agency from 1991 to 1994. In this position, she established Army Casualty Information Processing System, later transforming into the current Defense Casualty Information Processing System. During this command, she was also assigned Director of the Pentagon Federal Credit Union from 1992 to 1994. In 1995, Hickerson became the deputy commanding general of the Recruiting Command in Kentucky for one year before becoming the commanding general of the United States Army Soldier Support Institute at Fort Jackson, South Carolina from 1995 to 1996. In 1996, she became the deputy chief of staff for the personnel management and installation management in the United States Army Forces Command at Fort McPherson, Georgia. Her final post was in Heidelberg, Germany, where she was the Deputy Chief of Staff of Personnel and Installation Management for the United States Army Europe and the 7th Army where she stayed until her retirement in 2001.
After retirement.
Hickerson was inducted into the Adjutant General's Corps Hall of Fame in 2013, and into the Army Women's Foundation Hall of Fame in 2018.
Personal life.
Hickerson married Major Dennis Fogarty on December 18, 1974 and they currently reside in Florida.


Latino Public Broadcasting

Latino Public Broadcasting (LPB) is a non-profit organization that is funded by the Corporation for Public Broadcasting with the purpose of addressing issues of cultural significance to the Latino population in the United States. It does this by funding the development, production, postproduction, acquisition and distribution of non-commercial educational and cultural television that addresses these issues. LPB television programs include dramas, documentaries, comedies, satire and animation. These programs funded by the LPB are then distributed to various PBS stations and to other public telecommunication entities who chose to run their programs. LPB is also part of the National Minority Consortia, an organization composed of several minority public broadcasting organizations that wish to bring more diversity to public broadcasting.
Background.
LPB was founded in 1998 by Edward James Olmos and Marlene Dermer, the latter served as the Executive Director until 2002 and currently sits on the Board of Directors. Edward Olmos currently serves as the Chairman of the Board of Directors.


British military intelligence systems in Northern Ireland

The British Military is alleged by author Tony Geraghty to have exploited a number of information sources during the Troubles in Northern Ireland. Geraghty describes these in his book, "The Irish War", basing his description on an extract from an unspecified, classified document passed to him by an unspecified informant, later identified as a former Army Officer, Nigel Wylde.
Geraghty claimed significant capabilities for these systems and extensive use by both British Military Intelligence and Police.
Sourcing.
The Ministry of Defence Police accused Geraghty of using as his source an extract from a classified document passed to him by Wylde. Following publication of The Irish War both were investigated by the Ministry of Defence Police and charged with offences under the Official Secrets Act 1989. The case against both was later dropped by the MoD.
Military context.
By 1994 the British military, intelligence and police apparatus in Northern Ireland had over thirty-seven separate intelligence gathering computer systems operating. Their focus was detection before, during and after paramilitary activity, with a particular focus on the activities of the Provisional Irish Republican Army (PIRA).
System claims.
Vehicle tracking.
Geraghty claims that a system called Op Vengeful was used to identify vehicles associated with a subject of interest and linked to the Driver and Vehicle Licensing Agency of Northern Ireland. Vehicle Registration Numbers (VRN) associated with persons of interest were recorded on a card index system maintained by Intelligence Sections deployed at Coy level throughout the
Province and those operating Vehicle Check Points would be informed as to what checks should be conducted on the driver, occupants and vehicle - " Stop Three" was the code word used to identify a vehicle of particular interest and scrutiny. Intelligence Operators had a direct line to the DVLA at Coleraine who would give details as requested.
The system predated Computers - hence the need to obtain information by landline from the DVLA and was in use from 1971 until 1980 when Local Data Bases replaced the Phone and paper system.
Subject of interest information collation.
Geraghty claims that a system called Crucible was used to consolidate items of information about individuals including personal details, imagery, mapping, movements and activities. He alleges that this system was later replaced by a modernised system called Caister with some 350 terminals throughout the province operating at the secret level.
Automated vehicle tracking.
Geraghty claims that in 1997 the Vengeful system was connected to a camera network called Glutton that would automatically track the movements of vehicles identified as being related to subjects of interest. Geraghty claims that there were eighty overt and twenty covert camera locations in Northern Ireland and further deployment of camera equipment in Britain.
In 1997 an analysis system called Effigy was integrated with Vengeful under a project titled Mannequin allowing more detailed analysis of the vehicle movement data.


List of Scottish royal mistresses

This article contains a list of notable Scottish royal mistresses. The list cannot be complete since some earlier kings had illegitimate children by unknown mothers.


Petar Talovac

Petar Talovac (; died in 1453) was a vassal of the Hungarian king Sigismund who served first as administrator of the Archbishopric of Zagreb and then as Ban of Croatia and Dalmatia from 1438 until his death.
Petar and his brother Matko fought to obtain the Nelipić family holdings, with the former seizing their lands south of the Velebit. Talovac gained fame by defending the southern borders of the kingdom from the Ottoman Turks. His brother's death in 1445 made it difficult for him to hold the land south of the Velebit, but he succeeded in retaining most of it against the ambitions of the regent John Hunyadi, the Republic of Venice, King Thomas of Bosnia and the Bosnian magnate Stjepan Vukčić Kosača.
He was married to Hedwig Garai and had two sons. Upon Talovac's death in 1453, the struggle to obtain his widow's hand in marriage and control over his lands led to an armed conflict between Thomas and Kosača.


Obadiah Mailafia

Obadiah Mailafia (born 24 December 1956) is a Nigerian development economist, international polymath, central banker, statesman and the 2019 Nigeria Presidential election Candidate of African Democratic Congress (ADC). He is a former official of the African Development Bank Group and one-time Deputy Governor of the Central Bank of Nigeria (CBN). He was also the Chief of Staff of the African, Caribbean and Pacific Group of States (ACP), the 79-nation multilateral development institution based in Brussels, Belgium.
Early life and education.
Mailafia was born on 24 December 1956 in the village of Randa in Sanga Local Government Area of Kaduna State. His father Baba Mailafia Gambo Galadima was an evangelist with the Evangelical Reformed Church of Central Nigeria (ERCC).
Mailafia was raised as a missionary child in a multiracial environment. His parents later transferred to Murya, Lafia, in Nasarawa State, where he grew up.
He started his elementary education at Musha Sudan United Mission School from 1964 to 1969 and proceeded to Mada Hills Secondary School, Akwanga from 1970 to 1974. He was a keen sportsman, debater and scholar; winning the Commissioner of Education's Award as the most outstanding pupil of the graduating class of 1974. For his A ‘Levels, he attended the School of Basic Studies (SBS) at Ahmadu Bello University, Zaria, between 1974 and 1975. He later proceed and graduated top of his class at Ahmadu Bello University, Zaria, in 1978 with a B.Sc. Honours Social Sciences degree (Politics, Economics and Sociology). He also has a M.Sc. from the same institution. He subsequently won a French Government Scholarship to France, where he earned a Certificate in French Language and Civilization from the University of Clermont-Ferrand in 1985. In 1986 he also earned the Diplôme (equivalent to an M.Phil.) in international economics from the Institut International d’Administration Public (IIAP), the international wing and sister institution of the prestigious École nationale d'administration (ENA) of France.
Mailafia later proceeded to the United Kingdom as a Foreign and Commonwealth Office (FCO) Scholar at Oriel College, earning a DPhil from the University of Oxford in 1995.
Career.
Mailafia began his career teaching Government and Economics at Akoko Anglican Grammar School, Arigidi-Ikare in Ondo State, Nigeria between 1978 and 1979 as part of his primary assignment during his obligatory National Youth Service Corps year. After national service he returned to his old alma mater, Ahmadu Bello University, as a Graduate Assistant in the Faculty of Arts and Social Sciences from 1980 to 1982. During this period he lectured undergraduates and was also Research Assistant to Professor Ibrahim Gambari, who later became Foreign Minister and subsequently United Nations adviser for Political Affairs.
From 1982 to 1989, Mailafia was a Fellow and sometime Acting Research Director of the National Institute for Policy and Strategic Studies (NIPSS). He was on the team that prepared a special report on Local Government Reforms during 1982–1983. He also co-authored a report on the Maitatsine Religious Riots that formed the bedrock of the government's response to the crisis (1984). In collaboration with Professors Adedotun Phillips and Eghosa Osagie, he prepared several technical papers advising the Nigerian government on economic policy and macroeconomic reforms. He served on a committee that advised the Federal Military Government on a peaceful approach to the Nigeria-Cameroon Bakassi Peninsula Dispute. It helped in avoiding a catastrophic war between the two neighboring countries. At the National Institute he came under the mentorship of illustrious Nigerians who have spurred his interests in public service: Chief Simeon Adebo, Pius Okigbo, Eme Awa, Olikoye Ransome-Kuti, Gidado Idris, Akinola Aguda, Moshood Kashimawo Abiola and Claude Ake.
From 1990 to 1995, Mailafia was resident tutor and lecturer in the economics and politics of developing areas at Plater College Oxford at the time an associate college of the University of Oxford. During 1995–1996 he was an assistant professor at New England College, Arundel, the foreign academic programme of New England College. He was subsequently a lecturer in international finance at Richmond Business School, the American International University in London (1997–1998). He was then headhunted as the pioneer head of the International Business Department of Regents Business School London (1998–2000).
From 2001 to 2005, Mailafia served as a chief economist in the Strategic Planning and Budgeting Department of the African Development Bank Group. He served both in Abidjan and in Tunis when the bank was temporarily relocated to Tunisia. In this capacity he was on several missions throughout Africa to supervise projects in power and infrastructures, agriculture industry. He was also the task manager for coordinating grants to research institutions throughout Africa, including such institutions as the Council for Social Science Research (CODESRIA), African Economic Research Consortium (AERC) and the African Capacity Development Foundation (ACBF). He drafted the Concept Note that was later adopted by the board of the AFDB, leading to the establishment of New Partnership for Africa's Development (NEPAD) and was also a Member of the AfDB and the United Nations Economic Commission of Africa (UNECA) Joint Committee that provided technical support to the steering committee of the heads of state and government on the establishment of NEPAD and its secretariat.
Mailafia was secretary to the senior management committee and special negotiating team for the Ninth Replenishment of the African Development Fund and a member of the task force for the joint management of the HIPC Trust Fund, in coordination with the World Bank and the International Monetary Fund IMF.
From 2005 to 2007, Mailafia was recalled home from the African Development Bank to serve as deputy governor of the Central Bank of Nigeria (CBN). In this capacity he served a member of the board of directors of the bank and was principally responsible for managing monetary policy, economic policy, research and statistics and liaison with regional and international bodies, including the IMF and the World Bank. He was a principal actor in the banking consolidation exercise of 2005–2006 that led to the reform of the Nigerian banking sector. He oversaw the reduction of the number of commercial banks, through mergers and acquisitions, from 89 to 25 consolidated banks; an exercise that was widely regarded as one of the most successful such efforts anywhere in the developing world in recent times. He was also an active participant in the negotiations that led to Nigeria negotiating its way out of the Paris Club group of indebted nations.
From 2010 to 2015, Mailafia was the chief of staff (Chef de Cabinet) to the 79-member nation African, Caribbean and Pacific (ACP) Group of States based in Brussels, Belgium. In this capacity he was the most senior adviser to the secretary-general, overseeing the strategic management function; liaising with external partners such as the European Commission, European Parliament, European Investment Bank (EIB), UN agencies and the IMF and World Bank. He was involved in managing a portfolio of €22 billion of EU funding for ACP countries under the 10th European Development Fund (EDF) and €31.5 billion for the 11th European Development Fund covering the years 2015–2020. His work took him all over Africa, the Caribbean and the far-flung islands of the Pacific, where he canvassed for South-South cooperation, preaching the ideals of multilateralism, peace and international cooperation as the best hope for mankind.
Mailafia was also the principal liaison with the European Investment Bank (EIB) on the management of €5 billion Intra-ACP Resources Fund being managed by the EIB, comprising the Africa Infrastructure Fund and the ACP-EIB Investment Facility. He was also the chair of the ACP Strategic Management Group and the draftsman for the Secretariat's Strategic Plan, Renewal and Transformation (2011–2014).
Political career.
Mailafia is running for presidency of the Federal Republic of Nigeria in the 2019 presidential elections under the platform of the African Democratic Congress (ADC). He was persuaded to join politics after the famous historic “handshake” by the coalition of the Middle Belt Forum (MBF) and the South Afenifere of Yoruba land, Ohanaeze Ndigbo and PANDEF of Niger Delta.


Jessie Woodrow Wilson Sayre

Jessie Woodrow Wilson Sayre (August 28, 1887 – January 15, 1933) was a daughter of US President Woodrow Wilson and Ellen Louise Axson. She was a political activist, and "She worked vigorously for women's suffrage, social issues, and to promote her father's call for a League of Nations, and emerged as a force in the Massachusetts Democratic Party."
Biography.
Jessie Woodrow Wilson was born in Gainesville, Georgia, the second daughter of Woodrow and Ellen Axson Wilson. She was the middle sister of Margaret Woodrow Wilson and Eleanor Wilson McAdoo.
Wilson was educated privately in Princeton, New Jersey and at Goucher College in Baltimore, Maryland. She was a member of Gamma Phi Beta sorority. After her graduation from Goucher, she worked at a settlement home in Philadelphia for three years.
White House years.
In July 1913, four months after her father assumed the presidency, the Wilsons announced Jessie's engagement to Francis Bowes Sayre, Sr. Her fiancé, a 1911 graduate of Harvard Law School, was the son of Robert Sayre, builder of the Lehigh Valley Railroad and organizer and general manager of the Bethlehem Iron Works. At the time of their engagement he was serving in the office of a district attorney. Their November 25, 1913, wedding was the thirteenth White House wedding, and the first since Alice Roosevelt and Nicholas Longworth were wed in 1906.
Upon their return from their honeymoon in Europe, they moved to Williamstown, Massachusetts, where her husband began his service as an assistant to the president of Williams College.
On January 17, 1915, she gave birth in the White House to a son, Francis B. Sayre, Jr. (January 17, 1915 – October 3, 2008), who became a noted clergyman and was a social activist like his mother. The following year, a daughter, Eleanor Axson Sayre (March 26, 1916 – May 12, 2001), was born. In 1919 they were joined by Woodrow Wilson Sayre (February 22, 1919 – September 16, 2002).
Massachusetts and Siam.
After World War I, the Sayres moved to Cambridge, Massachusetts, where Francis accepted a position on the Harvard Law School faculty. There, she worked in the interests of the Democratic Party, the League of Nations, and the League of Women Voters. She was also involved with the YWCA, serving on its national board. At the time of Woodrow Wilson's death in 1924, the couple was living in Siam (now Thailand) where Francis was working as an advisor on international law at the Royal Court of Siam.
In 1928, she made the introductory speech for presidential nominee Al Smith at the Democratic National Convention. In 1929 her name was mentioned as a candidate for the Democratic nomination for United States Senator, for the seat then held by Republican Frederick H. Gillett. However, she declined. She became secretary of the Massachusetts Democratic State Committee instead.
Death.
Sayre died at age 45 after undergoing abdominal surgery at Cambridge Hospital in Cambridge, Massachusetts. Some reports state that she suffered from a gall bladder disorder, while others state that she had undergone an emergency appendectomy. Two years later, the Boston branch of the Women's Democratic League was renamed the Jessie Woodrow Sayre Women's Democratic League.
She is buried in Nisky Hill Cemetery in Bethlehem, Pennsylvania.


Catherine Chislova

Catherine Gavrilovna Chislova (Russian: Екатерина Гавриловна Числова) (21 September 1846 – 13 December 1889) was a Russian ballerina. She was the mistress of Grand Duke Nicholas Nikolaevich; they had five children.
Life.
Catherine Chislova was born on 21 September 1846, the daughter of Gabriel Chislov. She became a "danceuse" with the Imperial Ballet. She was an unrivalled partner to the famous in the Polish mazurka.
In the mid-1860s, Grand Duke Nicholas Nikolaevich, the third son of Emperor Nicholas I, fell in love with her and they became lovers. Although the Grand Duke was married, they have an open affair that caused a great scandal. He installed her in a fashionable house situated directly across from his own palace in the capital. When Chislova wanted her paramour to visit, she would light two candles and set them on her windowsill, where the Grand Duke could see them from the windows of his study. In 1868, Catherine gave birth to the first of their five children.
Tsar Alexander II advised his brother to be more discreet and the couple traveled to San Remo and the Crimea. In 1881, the Grand Duke’s wife, Grand Duchess Alexandra Petrovna, retired to a convent in Kiev. Having given up her career as a dancer for him, and fearing for their children's well-being if something happened to him, Catherine Chislova begged Nicholas Nikolaievich to provide for her and their family. He arranged a change of class into the gentry for Catherine, and the couple’s illegitimate children were granted the surname Nikolaiev on 8 December 1882 by Tsar Alexander III of Russia.
Unable to obtain a divorce, Grand Duke Nicholas Nicolaievich hoped to survive his wife and then marry his mistress. However, Catherine Chislova died unexpectedly in Crimea on 13 December 1889. She was buried in the monastery of Saint Serge in St Petersburg under the name Catherine Gavrilovna Nikolaiev. The Grand Duke had cancer and survived her by only two years. The couple’s two sons were elevated to the Russian nobility in 1894.
Lives of Chislova's children.
Catherine Chislova’s youngest daughter, Galina, died in childhood. Her remaining four children survived her. They were well provided by their father and, from 1882, bore the last name Nikolaiev.
The eldest daughter Olga, who resembled her grandfather Tsar Nicholas I, married in 1892 Prince Michael Mikhailovich Cantacuzene (1858–1927). They had two daughters: Princess Irina Cantacuzene (1895–1945) and Princess Olga Cantacuzene (1899–1983). After the Russian Revolution, Olga Nikolaievna and her family lived in France.
Vladimir, the eldest son, followed a career in the army. In 1899, he joined a Cavalry Regiment. By 1913, he was aide-de-camp to Tsar Nicholas II. During World War I, he commanded a Cavalry regiment. Married four times, he divorced his first wife, Vera Popov, in 1907. After his second wife, Eleonore Lencione, died in 1913, Vladimir married his brother’s widow, Olga Zabotkine. He survived the Russian revolution and settled in France, but Olga stayed behind and died during the famines in the Soviet Union. In exile, Vladimir married Marina Zabotkine, Olga’s sister.
Catherine Nikolaevna had one daughter from her marriage to Nicholas Korevo; after they divorced, she married in 1914 Ivan Alexandrovich Persiani, who worked at the Russian Embassy in Rome. After the Russian revolution, Catherine Nikolaievna lived in exile. She died in Belgrade during World War II.
Nicholas Nikolaevich followed a military career under the direction of his uncle Grand Duke Michael Nicolaievich of Russia, eventually becoming his "aide-de-camp". In 1894, he and his brother were admitted into the Russian nobility. He married Olga Zabotkine and they had two daughters. Nicholas died young. His widow eventually married Nicholas’ brother. His two daughters emigrated to Western Europe.


G.K. Agama

Godfried Kportufe Agama (August 1933 – August 5, 2009) was a Ghanaian economist and a governor of the Bank of Ghana. He held the record to date for being the longest-serving governor of the bank.


City of Los Angeles v. Lyons

City of Los Angeles v. Lyons, 461 U.S. 95 (1983), was a United States Supreme Court decision holding that the plaintiff, Adolph Lyons, lacked standing to challenge the city police department's use of chokeholds.
Background.
In 1976, Adolph Lyons was stopped by four white officers of the Los Angeles Police Department (LAPD) for driving with a broken tail light. The unarmed 24-year-old was ordered to leave his vehicle by officers with guns drawn and to spread his legs and put his hands on top of his head. After being frisked, Lyons put his hands down. That prompted one officer to grab his hands and slam them against his head.
When Lyons complained that holding his car keys was causing him pain, a police officer put him in a chokehold until he lost consciousness. He woke up lying face down in the road with soiled underwear and blood and dirt in his mouth. The officers gave him a traffic citation and sent him on his way.
Seven years later, he sought both compensatory damages for the chokehold and declaratory and injunctive relief against the LAPD's chokehold policy (he introduced evidence from 1975 to 1983 that 16 people, including 12 African-Americans, had been killed by the LAPD using chokeholds.
Decision.
In an opinion authored by Justice White, the Court held 5-4 that Lyons had failed to allege a sufficiently-plausible threat of future injury to have standing to seek an injunction. Lyons, however, had standing for his damages action since it was retrospective and the injury, being subjected to the chokehold, was concrete and particular. The decision helped to establish the principle that a plaintiff must meet a standing requirement for "each" form of relief sought.
Dissenting opinion.
Justice Marshall's dissent argued that the majority's test would immunize from review any widespread policy that deprives constitutional rights when individuals cannot show with certainty that they would be subject to a repeat violation. He also argued that the Court's traditional rule did not distinguish different forms of relief for standing purposes.
Commentary.
Based on Michelle Alexander's book "The New Jim Crow" Lyons' case is related to what is believed to be biased action towards certain races, in this case African-Americans. She asserts that it is hard for people of color like Lyons to prevail in the judicial process, like during the Jim Crow era. According to Alexander, one of the causes of such issues is the presence of implicit bias in the criminal justice system, including the courts and police officers. In support of Alexander's argument, Georgetown Law provides Professor Charles Lawrence noted, "The purposeful intent requirement found in Supreme Court equal protection doctrine, and in the court's interpretation of antidiscrimination laws disserved the value of equal citizenship expressed in those laws because many forms of racial bias are unconscious." As specified above, since Lyons' case involves legal system, unconscious bias may produce negative outcomes for African-Americans.


Australian Safeguards and Non-proliferation Office

The Australian Safeguards and Non-proliferation Office (ASNO) was established by the Australian Government to enhance national and international security by contributing to "effective regimes against the proliferation of weapons of mass destruction." It combines three Commonwealth agencies: the Australian Safeguards Office (ASO), the Chemical Weapons Convention Office (CWCO), and the Australian Comprehensive Test Ban Office (ACTBO).
ASNO's Director General is a statutory officer, and his staff are public servants employed by the Department of Foreign Affairs and Trade (DFAT). The Director General has reported directly to the Minister for Foreign Affairs since 1994. As of 2014, Dr. Robert Floyd is ANSO's Director General.


Anders Been

Anders Been later Andreas von Behn (1650-1730), was a Norwegian painter and court dwarf in service of the Swedish queen dowager Hedwig Eleonora of Holstein-Gottorp.
Been was originally from Norway. He was placed in the service of the Swedish queen dowager, who had several court dwarfs in her household. In Sweden he was often referred to as "The Dwarf from Norway". His actual tasks has been described as "somewhere between that of a valet and a barber".
He was active as a painter. He is known to have decorated some of the cabinets at Drottningholm Palace. Eventually, the queen dowager had him ennobled. In 1709, Been left Sweden furnished with travel funds by the queen.


Kenya Literature Bureau

The Kenya Literature Bureau (KLB) is a publishing house and state corporation in Kenya founded in 1947. It is located in South-C off Popo Road in Nairobi.
History.
KLB was initially established by the British High Commission in 1947 as the East African Literature Bureau, to publish books for the general public in Kiswahili, East African vernacular languages and English. The Bureau's first director was Charles Granston Richards, who held that post for fifteen years. The regional status continued after independence with the establishment of the East African Community (EAC). In the early 1970s the Bureau published many pioneering anthologies of English-language poetry from East Africa:
 However, in 1977, the EAC collapsed and the reins of the bureau were transferred to the Kenyan Ministry of Education thereby making it a department under that ministry. In 1980, the KLB Act was passed by the Kenyan Parliament making it a state corporation—a status it holds to this day.


Renu Dahal

Renu Dahal () is a Nepalese politician and current Mayor of Bharatpur Metropolitan City. She joined the CPN (Maoist Centre) party in 1994 and became full timer member of the party in 1996. Dahal is the daughter of former Prime Minister and Co-chair of Nepal Communist Party, Pushpa Kamal Dahal. She was the member (Proportional Representation) of First Constituent Assembly of Nepal.
Early life.
Renu Dahal was born on July 4, 1976 in Bhimsen Nagar of Shivanagar VDC (Now Bharatpur Metropolis) in Chitwan District. She is the second daughter of Pushpa Kamal Dahal (née Prachanda) and Sita Dahal. Dahal has one younger sister, Ganga. Her eldest sister, Gyanu, who died in 2014 and brother, Prakash, who died in 2017.
Mayoral Election.
She was elected as a Mayor of Bharatpur Metropolitan city on August 5, 2017. She secured the Mayoral post by defeating her closet rival of Communist Party of Nepal (UML), Devi Gyawali. Her victory margin was only 203 vote as she polled 43,127 votes to defeat Gyawali 42,924 votes.


Meleager (king)

Meleager of Macedon (Greek: Μελέαγρος) was the brother of Ptolemy Keraunos and son of Ptolemy I Soter and Eurydice. Meleager ruled as King of Macedon during 279 BC for two months until he was compelled by his Macedonian troops to resign his crown.


Money creation

Money creation, or money issuance, is the process by which the money supply of a country, or of an economic or monetary region, is increased. In most modern economies, most of the money supply is in the form of bank deposits. Central banks monitor the amount of money in the economy by measuring the so-called monetary aggregates.
Money supply.
The term "money supply" commonly denotes the total, safe, financial assets that households and businesses can use to make payments or to hold as short-term investment. The money supply is measured using the so-called "monetary aggregates", defined in accordance to their respective level of liquidity. In the United States, for example:
The money supply is understood to increase through activities by government authorities, by the central bank of the nation, and by commercial banks.
Money creation by the central bank.
Central banks.
The authority through which monetary policy is conducted is the central bank of the nation. The mandate of a central bank typically includes either one of the three following objectives or a combination of them, in varying order of preference, according to the country or the region: Price stability, i.e. inflation-targeting; the facilitation of maximum employment in the economy; the assurance of moderate, long term, interest rates.
The central bank is the banker of the government and provides to the government a range of services at the operational level, such as managing the Treasury's single account, and also acting as its fiscal agent (e.g. by running auctions), its settlement agent, and its bond registrar. A central bank cannot become insolvent in its own currency. However, a central bank can become insolvent in liabilities on foreign currency.
Central banks operate in practically every nation in the world, with few exceptions. There are some groups of countries, for which, through agreement, a single entity acts as their central bank, such as the organization of states of Central Africa, which all have a common central bank, the Bank of Central African States; or monetary unions, such as the Eurozone, whereby nations retain their respective central bank yet submit to the policies of the central entity, the European Central Bank. Central banking institutions are generally independent of the government executive.
The central bank's activities directly affect interest rates, through controlling the base rate, and indirectly affect stock prices, the economy's wealth, and the national currency's exchange rate. Monetarists and some Austrians argue that the central bank should control the money supply, through its monetary operations. Critics of the mainstream view maintain that central-bank operations can affect but not control the money supply.
Open-market operations.
Open-market operations (OMOs) concern the purchase and sale of securities in the open market by a central bank. OMOs essentially swap one type of financial assets for another; when the central bank buys bonds held by the banks or the private sector, bank reserves increase while bonds held by the banks or the public decrease. Temporary operations are typically used to address reserve needs that are deemed to be transitory in nature, while permanent operations accommodate the longer-term factors driving the expansion of the central bank's balance sheet; such a primary factor is typically the trend of the money-supply growth in the economy. Among the temporary, open-market operations are repurchase agreements (repos) or reverse repos, while permanent ones involve outright purchases or sales of securities. Each open-market operation by the central bank affects its balance sheet.
Monetary policy.
Monetary policy is the process by which the monetary authority of a country, typically the central bank (or the currency board), manages the level of short-term interest rates and influences the availability and the cost of credit in the economy, as well as overall economic activity.
Central banks conduct monetary policy usually through open market operations. The purchase of debt, and the resulting increase in bank reserves, is called "monetary easing." An extraordinary process of monetary easing is denoted as "quantitative easing", whose intent is to stimulate the economy by increasing liquidity and promoting bank lending.
Money creation by government spending.
State spending is part of the state's fiscal policy. Deficit spending involves the state spending into the economy more than it receives (in taxes and other payments) within a certain period of time, typically the budget year.
Deficit spending increases the money supply. The extent and the timing of budget deficits is disputed among schools of economic analysis. The mainstream view is that net spending by the public sector is inflationary in so far as it is "financed" by the banking system, including the central bank, and not by the sale of state debt to the public.
The existence itself of budget deficits is generally considered inflationary by mainstream economics, so policies are prescribed for the lowering of the deficit, while heterodox economists such as Post-Keynesians treat deficit spending as one of many fiscal policy options.
Role of banks in money creation.
When commercial banks lend money, they expand the amount of bank deposits.
The banking system can expand the money supply of a country beyond the amount created or targeted by the central bank, creating most of the broad money in a process called the multiplier effect.
Banks are limited in the total amount they can lend by their capital adequacy ratios, and their required reserve ratios. The required-reserves ratio obliges banks to keep a minimum, predetermined, percentage of their deposits at an account at the central bank.
The theory holds that, in a system of fractional-reserve banking, where banks ordinarily keep only a fraction of their deposits in reserves, an initial bank loan creates more money than it initially lent out.
The maximum ratio of loans to deposits is the required-reserve ratio , which is determined by the central bank, as
where are reserves and are deposits.
In practice, if the central bank imposes a required reserve ratio () of 0.10, then each commercial bank is obliged to keep at least 10% of its total deposits as reserves, i.e. in the account it has at the central bank.
The process of money creation can be illustrated with the following United States example:
If this chain continues indefinitely then, in the end, an amount approximating $1,000,000 has gone into circulation and has therefore become part of the total money supply. Furthermore, the Federal Reserve itself can and does lend money to banks as well as to the federal government.
There is currently neither an explanation on where the money comes from to pay the interest on all these loans, nor is there an explanation as to how the United States Department of the Treasury manages default on said loans (see Lehman Brothers). A negative supply of money is predicted to occur in the event that all loans are repaid at the same time.
Explanation: Money is a medium of exchange for goods and services. Deposit accounts are a form of liability. Liabilities are obligations or promise to provide services. Interests are a payment for a liability. Payments are made by providing services.
Money is created when promises to provide services are made. Money is destroyed when promised services were provided. Money to pay for interests is created by promising to provide services.
The ratio of the total money added to the money supply (in this case, $1,000,000) to the total money added originally in the monetary base (in this case, $100,000) is the money multiplier.
In this context, the money multiplier relates changes in the monetary base, which is the sum of bank reserves and issued currency, to changes in the money supply.
If changes in the monetary base cause a change in the money supply, then
where is the new money supply, is the monetary base, and is the money multiplier. Therefore, the money multiplier is:
The central bank can control the money supply, according to this theory, by controlling the monetary base as long as the money multiplier is limited by the required reserve ratio.
Credit theory of money.
The fractional reserve theory where the money supply is limited by the money multiplier has come under increased criticism since the financial crisis of 2007–2008. It has been observed that the bank reserves are not a limiting factor because the central banks supply more reserves than necessary and because banks have been able to build up additional reserves when they were needed. Many economists and bankers now believe that the amount of money in circulation is limited only by the demand for loans, not by reserve requirements.
A study of banking software demonstrates that the bank does nothing else than adding an amount to the two accounts when they issue a loan. The observation that there appears to be no limit to the amount of credit money that banks can bring into circulation in this way has given rise to the often-heard expression that "Banks are creating money out of thin air". The exact mechanism behind the creation of commercial bank money has been a controversial issue. In 2014, a study titled "Can banks individually create money out of nothing? — The theories and the empirical evidence" empirically tested the manner in which this type of money is created by monitoring a cooperating bank's internal records:
The amount of money that is created in this way when a loan is issued is equal to the principal of the loan, but the money needed for paying the compound interest of the loan has not been created. As a consequence of this process, the amount of debt in the world exceeds the total money supply. Critics of the current banking system are calling for monetary reform for this reason.
The credit theory of money, initiated by Joseph Schumpeter, asserts the central role of banks as creators and allocators of the money supply, and distinguishes between "productive credit creation" (allowing non-inflationary economic growth even at full employment, in the presence of technological progress) and "unproductive credit creation" (resulting in inflation of either the consumer- or asset-price variety).
The model of bank lending stimulated through central-bank operations (such as "monetary easing") has been rejected by Neo-Keynesian
and Post-Keynesian analysis as well as central banks.
The major argument offered by dissident analysis is that any bank balance-sheet expansion (e.g. through a new loan) that leaves the bank short of the required reserves may affect the return it can expect on the loan, because of the extra cost the bank will undertake to return within the ratios limits – but this does not and "will never impede the bank's capacity to give the loan in the first place." Banks first lend and "then" cover their reserve ratios: The decision whether or not to lend is generally independent of their reserves with the central bank or their deposits from customers; banks are not lending out deposits or reserves, anyway. Banks lend on the basis of lending criteria, such as the status of the customer's business, the loan's prospects, and/or the overall economic situation.
Physical currency.
The central bank, or other competent, state authorities (such as the treasury), are typically empowered to create new, physical currency, i.e. paper notes and coins, in order to meet the needs of commercial banks for cash withdrawals, and to replace worn and/or destroyed currency. The process does not increase the money supply, as such; the term "printing [new] money" is considered a misnomer.
In modern economies, relatively little of the supply of broad money is in physical currency.
Monetary financing.
Policy.
"Monetary financing", also "debt monetization", occurs when the country's central bank purchases government debt. It is considered by mainstream analysis to cause inflation, and often hyperinflation. IMF's former chief economist Olivier Blanchard states that governments do not create money; the central bank does. But with the central bank's cooperation, the government can in effect finance itself by money creation. It can issue bonds and ask the central bank to buy them. The central bank then pays the government with money it creates, and the government in turn uses that money to finance the deficit. This process is called debt monetization. The description of the process differs in heterodox analysis. Modern chartalists state: the central bank does not have the option to monetize any of the outstanding government debt or newly issued government debt...[A]s long as the central bank has a mandate to maintain a short-term interest rate target, the size of its purchases and sales of government debt are not discretionary. The central bank's lack of control over the quantity of reserves underscores the impossibility of debt monetization. The central bank is unable to monetize the government debt by purchasing government securities at will because to do so would cause the short-term target rate to fall to zero or to any support rate that it might have in place for excess reserves.
Restrictions.
Monetary financing used to be standard monetary policy in many countries, such as Canada or France, while in others it was and still is prohibited. In the Eurozone, Article 123 of the Lisbon Treaty explicitly prohibits the European Central Bank from financing public institutions and state governments. In Japan, the nation's central bank "routinely" purchases approximately 70% of state debt issued each month, and owns, as of Oct 2018, approximately 440 trillion JP¥ (approx. $4trillion) or over 40% of all outstanding government bonds. In the United States, the 1913 Federal Reserve Act allowed federal banks to purchase short-term securities directly from the Treasury, in order to facilitate its cash-management operations. The Banking Act of 1935 prohibited the central bank from directly purchasing Treasury securities, and permitted their purchase and sale only "in the open market". In 1942, during wartime, Congress amended the Banking Act's provisions to allow purchases of government debt by the federal banks, with the total amount they'd hold "not [to] exceed $5 billion." After the war, the exemption was renewed, with time limitations, until it was allowed to expire in June 1981.


John Tembo

John Zenus Ungapake Tembo (born September 14, 1932) is a Malawian politician who served for years as President of the Malawi Congress Party (MCP). Tembo comes from the Dedza District in central Malawi, and he is a teacher by profession. Beginning in the 1960s he was an important politician in Malawi, and he was a key figure in the regime of Hastings Banda (1964–1994). He has been variously described as "physically slight, ascetic, fastidious" and "cunning". He was replaced as President of the MCP in August 2013.
Early career.
Tembo was born on September 14, 1932 in Dedza District, Central Region. His father, Zenus Ungapake Tembo, was a minister of the Church of Central African Presbyterian (CCAP). He attended several primary schools before graduating to Blantyre Secondary School. He later went to study at the University of Roma (also known as Pius XII College) in Lesotho, graduating in 1958 with a Bachelor of Arts in political philosophy. He had a brief stint as a teacher at Dedza Secondary School and later taught for two years at Robert Blake Secondary School in the central region district of Dowa in 1958.
In 1960, two years after Dr. Banda's arrival in the country from Ghana to lead the independence struggle from the British colonial rule, Tembo was invited to take up a parliamentary seat in Dedza South constituency.
Tembo was elected to the legislative assembly of Nyasaland in 1961, three years before the country gained its independence and became the Republic of Malawi. He was the second Minister of Finance in Malawi after independence, succeeding Henry Phillips (later Sir Henry Phillips) in a post for which the intended candidate had been Dunduzu Chisiza (Chisiza died in 1962 in a car crash). John Tembo was the only cabinet member not to resign in the notorious Cabinet Crisis of 1964, after which most of the President's closest lieutenants, their opposition to his policies thwarted, fled the country. (Chinua Achebe in "A Man of the People" admits having used a real situation gleaned from the Hansards of a certain African country to portray his main character 'Chief Nanga', the heckler in parliament who hounded out the 'offensive minister' who had just resigned.)
Relationship with Banda.
He was prone to taking some unilateral decisions, e.g. the '1974 Youth Week Inauguration' venue saga when Tembo decided, without Banda's permission, to stage the event in Lilongwe to coincide with the 'New Capital City' inauguration gala Banda had yet to sanction. Banda found this offensive and in the presence of Gwanda Chakuamba dressed down Tembo before instructing Chakuamba to rearrange, at a very high cost to the government, the Youth Week inauguration back in Blantyre. Despite Cecilia Kadzamira's intervention, Banda proceeded to remove John Tembo from the National Celebrations Council and placed him into a minor post of Reserve Bank Governor and the ceremonial Chairman of the University Council. The Banda-Tembo relationship soured and it became an uphill struggle, with Cecilia's active support, for Tembo to regain his position of prominence. His role as the Chichewa interpreter to Banda was engineered so that John Tembo stayed in Banda's presence. Cecilia engineered the removal as interpreter and subsequent demise in disgrace of the eloquent Chichewa speaking John Msonthi; whereupon on Msonthi's burial day a gun battle ensued between the Msonthi and Tembo/ Kadzamira clans. And when John Tembo suggested, during one of Dr. Banda's speech on ubiquitous and 'invisible enemies', that ministers and those around the President should carry automatic weapons to 'defend' Dr. Banda, John Tembo was swiftly rapped on the wrist and a temporary replacement interpreter was arranged.
When Malawi became a republic in 1966 after attaining independence in 1964, Tembo was appointed as Minister of Finance. In 1971, at the Dowa MCP Convention, Tembo was the 'primary' sponsor (while another two seconded) for Banda becoming the 'Life President' of Malawi. Banda rewarded him with postgraduate studies in central banking in Britain and France. Later he was to use the knowledge as Governor of the Reserve Bank of Malawi, a post he held for 13 years.
As confidante to the President, Tembo was used as Dr. Banda's Machiavellian bludgeon during the later part of Dr. Banda's 30-year tyrannical rule. Tembo came to personify the negatives that Dr. Banda did. The greater majority in Malawi came to hate John Tembo for the excesses that ideally should have been aimed at Dr. Banda. While most people became resigned to the 'life presidency' issue (wait until the old man departs), a determination, especially after the Mwanza Assassination, emerged that Tembo would 'never rule' Malawi. Yet, in a move demonstrating Banda embraced 'democracy' much earlier than portrayed, Banda released John Tembo from his duties as Governor of the Reserve Bank and sent him on a two-year sabbatical to the US Congress to study the workings of democracy. When John Tembo returned in 1989, Banda appointed him as Minister without Portfolio much to the furore and greater agitation for multiparty democracy.
With Banda's health failing Cecilia Tamanda Kadzamira turned more to Tembo to do her low-key political bidding. In turn, John Tembo unleashed onto Malawians what Banda was to later call the 'parallel MCP'. Sections of the Secret Service, Malawi Young Pioneers and other agencies, loyal to John Tembo, systematically incarcerated and/or summarily killed any vocal opposition to his rise to power while the educated, especially those without links to John Tembo's 'Dedza-Ntakataka Connection' were dispatched into exile. Yet, the Machiavelli Dr. Banda did not fully relinquish power. Given a choice between Tembo and Gwanda Chakuamba, Banda anointed Chakuamba as his running mate in Malawi's first multiparty elections, held on 17 May 1994.
In January 1995, some months after Banda lost the election to Bakili Muluzi of the United Democratic Front (UDF), Tembo and "Mama" were put on trial for the murder of the four prominent Malawi politicians in 1983 (the so-called Mwanza trial). While there was little doubt that the four politicians had met their violent end (also allegedly in a "car crash") at the hands of state security forces, there was no direct evidence linking the accused to the murders and they were acquitted. After Banda's death in 1997, Tembo attempted to take over the presidency of the Malawi Congress Party from Chakuamba and defied a high court injunction preventing him from holding a convention to do so. Because the high court ruled him in contempt, he was expelled from the legislative assembly, although he successfully challenged the expulsion. Using the parallel MCP mechanisms, John Tembo finally wrested control of the MCP from Gwanda Chakuamba.
2004 election.
As the candidate of the MCP, Tembo officially placed second, with 27% of the vote, in the presidential election held on May 20, 2004, behind the winner, UDF candidate Bingu wa Mutharika, and ahead of Chakuamba, who ran as the candidate of the Mgwirizano Coalition.
On August 28, 2007, Tembo rejected an appeal from Chakuamba for Tembo to become the running mate of Muluzi, the UDF's candidate, in the 2009 election. Tembo said that the MCP would have its own campaign and would not participate in a coalition.
2009 presidential election.
On November 1, 2008, Tembo was unanimously elected as the MCP's 2009 presidential candidate at the MCP National Convention held at the Natural Resources College in Lilongwe. Tembo was to face President Mutharika, who was running for a second term as the candidate of the newly formed Democratic Progressive Party (DPP).
Tembo was considered the main opposition candidate, and the MCP formed an electoral alliance with Muluzi and the UDF prior to the election; the old foes came together with the goal of defeating Mutharika, their mutual enemy. Tembo's vice-presidential candidate was Brown Mpinganjira of the UDF. Observing that the DPP had never participated in an election (it was founded in 2005), Tembo argued that he and the MCP had the experience to govern the country properly: "I belong to the past, I belong to the present and I also belong to the future."
Observers expected a close election between the two strongest candidates, Mutharika and Tembo. While Tembo enjoyed the united backing of the country's two most established and powerful parties—the MCP and the UDF—he faced an incumbent President who had presided over strong economic growth of 8%, and the outcome was considered uncertain.
Ultimately, Mutharika won an overwhelming victory in the election, according to official results, and Tembo alleged fraud. Afterwards, some in the MCP called for the party to recognize Mutharika's victory and for Tembo to resign as MCP President. Tembo refused and vowed to legally challenge the results. He was re-elected as the MP for Dedza South in the concurrent parliamentary election. The MCP's strength in parliament was seriously reduced in the election, as it retained only 25 MPs, while Mutharika's DPP secured a large majority of seats; nevertheless, the MCP remained the second largest party in the National Assembly. When Tembo was sworn in again as an MP on June 2, 2009, he vowed that he would continue as Leader of the Opposition during the 2009–2014 parliamentary term, despite apparently substantial dissent within the MCP.
Parliament initially refused to recognize Tembo as Leader of the Opposition, but in late August 2009 the High Court ordered it to do so on an interim basis.
As MCP President, Tembo opposed the government's move to change the national flag in mid-2010, arguing that the government was "playing with serious matters of the state and the constitution put up by our forefathers."
At a party convention held in August 2013, delegates overwhelmingly opposed, through a voice vote, changing the MCP's constitution to allow Tembo to stand for a third term as MCP President. Lazarus Chakwera was then elected to succeed Tembo on 10 August 2013. Handing over the party leadership to Chakwera on 11 August, Tembo urged party members to unite behind his successor: "He is the only hope MCP and Malawi has to restore the development we have been dreaming about". Saying that he intended to retire from politics, Tembo reflected on his age: "Yes, I am old. Most of my friends died. But everyone's life is in God's hands." Later in the month, Tembo said that he intended to spend his retirement "reading, writing, and farming", although for the time being he continued to serve as an MP and as Leader of the Opposition. He denied that the MCP delegates had been opposing him when they refused to change the party constitution, saying that he had previously expressed his wish to retire and that the delegates had therefore simply honored his wishes.
After a parliamentary career dating back more than 50 years, Tembo confirmed on 22 September 2013 that he would not stand for re-election as the MP for Dezda South in the 2014 parliamentary election.
Personal life.
He was married to Ruth Tembo, who predeceased him. He is the father of Chimwemwe Dudu, John Jr, Thabo Themba, and Dalitso.


Otto Niemeyer

Sir Otto Ernst Niemeyer (23 November 1883 – 6 February 1971) was a British banker and civil servant. He served as a director of the Bank of England from 1938 to 1952 and a director of the Bank for International Settlements from 1931 to 1965.
An Oxford graduate, Niemeyer began working for HM Treasury in 1906 and rose rapidly through the ranks, finishing his time there as controller of finance (1922–1927). He was recruited to the Bank of England by Montagu Norman, and represented the bank at the League of Nations and on a number of missions overseas. His visit to Australia in 1930 contributed to a political crisis that resulted in the Australian Labor Party split of 1931 and the collapse of James Scullin's government.
Personal life.
Niemeyer was born in Streatham, London, the eldest of three children born to Ethel (née Rayner) and Ernst August Wilhelm Niemeyer. His mother was English. His father, originally from Hanover, Germany, arrived in Britain in 1870 and became a naturalised subject. Niemeyer attended St Paul's School, London before going on to Balliol College, Oxford. He married a distant cousin, Sophie Niemeyer, in 1910, and they had four children together. He retired to Lindfield, Sussex, dying there in 1971 at the age of 87.
Career.
Treasury.
Niemeyer joined HM Treasury in 1906. He rose rapidly through the ranks, becoming deputy controller of finance in 1920 and controller of finance in 1922, succeeding Basil Blackett. He held that position until 1927, serving as the chief adviser to the Chancellor of the Exchequer on financial matters. He took Blackett's place on the financial committee of the League of Nations. According to Frederick Leith-Ross, Niemeyer was "the outstanding Treasury official of the post-war years". His advice was instrumental in the introduction of the "British Gold Standard Act 1925", which saw the country return to the gold standard. He left the Treasury at the age of 44, feeling he could advance no further within the department.
Bank of England.
Niemeyer was recruited to the Bank of England in 1927 by Montagu Norman, as an adviser to the governor. He represented the bank on the financial committee of the League of Nations until 1937 and on the Corporation of Foreign Bondholders from 1935 to 1965, including as vice-president from 1950 to 1955 and president from 1955 to 1965. Niemeyer was elected an executive director of the bank in 1938, alongside Cameron Cobbold, and was briefly mooted as successor to Norman in 1944; his candidacy was vetoed by Winston Churchill. He often filled a sort of diplomatic role for the bank, touring a number of different countries in order to provide advice to foreign governments and check up on the bank's debtors. In this capacity he toured Australia and New Zealand (1930), Brazil (1931), Argentina (1933), India (1936), and China (1941).
Advice to Australia.
Australia had accrued substantial debt, mainly from Britain's independent banking sector, by the late 1920s – partly as a result of Prime Minister Stanley Bruce's
"Men, Money, Markets" economic strategy, and partly because of the large war debt established during World War I. After the Wall Street Crash, the United States called in many of its World War I loans, including many from the UK, which, in turn called in its own loans from Australia. Australia had accumulated such massive debt that it was unable to repay even the interest on its loans. To avert total bankruptcy with the onset of the Australia's Great Depression, Australia asked Britain for a deferment of payment on its war debts. To determine whether or not this was a viable financial option, the Bank of England sent Niemeyer to give an assessment of Australia and its financial situation. He came by arrangement with the Commonwealth Bank of Australia and agreement by Prime Minister James Scullin, who hoped to use Niemeyer's advice as an affirmation of his government's financial policy.
Scullin announced the visit in Parliament on 19 June 1930:
"The Commonwealth representative in London has for some time been in close consultation with the Bank of England and other financial authorities with a view to finding a solution of the growing difficulties of providing exchange to cover Australian payments oversea. At the same time the Australian Loan Council has been in close consultation on the same subject with the Commonwealth Bank and the associated banks in Australia. The Government and the banks have already taken important corrective measures for adjusting the trade balance, and the banks have materially assisted the Australian governments to secure exchange on London. The Commonwealth Government is determined that the necessary steps shall be taken to meet promptly all Australian oversea obligations, and as the Bank of England has expressed its willingness to assist Australia to find a solution of its present difficulties the Government and the Bank have mutually agreed that there should be consultation in Australia between a representative of the Bank of England, the Commonwealth Government and the Commonwealth Bank Board. A representative of the Bank of England, Sir Otto Niemeyer, will accordingly visit Australia. He left London yesterday accompanied by an economist and an officer of the Bank of England."
Economic historian Alex Millmow has commented that, when Niemeyer, his adviser Professor Theodore Gregory, and assistant Raymond Kershaw (an Australian economist) arrived in July 1930 they were unaware of the political storm they were to cause, for Niemeyer would bring English orthodox economics down on Australia's head. The high point of Niemeyer's tour was his address at the Melbourne Conference of Commonwealth and State leaders, where he said that the 'cold facts must be faced' ... 'In short, Australia is off budget equilibrium, off exchange equilibrium, and faced by considerable unfunded and maturing debts both internally and externally, in addition to which she has on her hands a very large program of loan works for which no financial provision has been made'. He warned Australia had two years 'to get its house in order' before a tranche of external debt matured in 1932. He believed Australians were too optimistic about the country's prospects.
He was critical of Australia's overconfidence and essentially said that Australia was "living beyond its means" and had become prosperous through "mistakes"; that Australians would have to "accept a lower standard of living"; that Australia should continue to exist only as a means to supply Britain with goods; and that its protectionist attitude was deviating Australia from its true purpose.
The federal and state heads of government gave mixed responses to Niemeyer's plan. The governments of Australia later met to negotiate a compromise in 1931, known as the Premiers' Plan. Populists like Jack Lang and former prime minister Billy Hughes decried Niemeyer's diagnosis and therapy. Anti-English and anti-German sentiment were both at play in the general public rejection of Niemeyer's advice, as well as anti-Semitism (it being wrongly assumed that he was Jewish). He was seen as promoting the interests of wealthy overseas bankers at the expense of the Australian people, who were struggling to cope with the Great Depression.
Other activities and honours.
Outside the Bank of England, Niemeyer was a director of the Bank of International Settlements from 1931 to 1965, including as chairman from 1937 to 1940 and vice-chairman from 1940 to 1946. He helped set up the National Association for Mental Health, serving as provisional chairman from 1943 to 1946. He was a governor of St Paul's School, Marlborough College, and the London School of Economics, serving as chairman of LSE from 1941 to 1957. Niemeyer was appointed Companion of the Order of the Bath (CB) in 1921, Knight Commander of the Order of the Bath (KCB) in 1924, and Knight Grand Cross of the Order of the British Empire (GBE) in 1927.


Belfius

Belfius Bank and Insurance, known as Dexia Bank Belgium up until 1 March 2012, is a for-profit PLC founded to meet local authority needs. Belfius emerged from the dismantling of the Dexia group, of which it was part until 10 October 2011, when it was purchased by the Belgian State for 4 billion euros. The company's headquarters are in Brussels.
History.
Belgium: Gemeentekrediet van België / Crédit Communal de Belgique.
Gemeentekrediet van België / Crédit Communal de Belgique is founded in 1860, specifically for the financing of local authority investments. Municipalities seeking to borrow are obliged to purchase shares equal in value to at least 5% of the borrowings. In 1947, the bank begins to develop a network of retail branches that allows funds to be drawn from the general public through savings accounts. From 1960 on, the branches are run by independent agents, allowing the offer of a broader range of services and products and the development of a lasting relationship with clients.
The international expansion of the bank starts in 1990, with the creation of the Cregem International Bank, specialising in the management of large sums of money, in the Grand Duchy of Luxembourg.
In 1990, Gemeentekrediet builds on its international expansion by taking a 25% stake in the Banque Internationale à Luxembourg (BIL), the biggest bank in Luxembourg. In early 1992, the firm increases its stake in BIL to 51%.
Belgium: BACOB / Artesia.
The Coopération Ouvrière Belge (COB), the precursor of Banque BACOB and Les AP, is founded in 1924. In 1997, BACOB bank takes the majority stakeholding in Banque Paribas Belgium, which then becomes Artesia Bank. The new group – comprising retail bank (BACOB), insurance company (Les AP), investment bank (Banque Artesia) and asset manager (Cordius), takes the name Artesia Banking Corporation in 1999.
Dexia: Group.
In 1996, Gemeentekrediet / Credit Communal de Belgique (presided over by François Narmon) merges with Crédit Local de France to form Dexia. In 1997, Dexia takes a 40% stake in Crediop, Italy’s biggest privately owned bank, specialising in finance for local administrations. Dexia increases its shareholding in Crediop to 60% in 1998.
The first listing of Dexia Group as a dual-listed company on the Paris stock exchanges dates from November 1999, at a price of €6.86 per share. In Belgium, the stock becomes part of the BEL20 index, and in France of the CAC 40. The group broadens its insurance activities in France, Belgium and Germany.
In 2000, the bank acquires Financial Security Assurance (FSA) in the United States, a major player in credit enhancement for municipalities, making Dexia the world leader in the marketing of financial services to the public sector. Dexia is active in nearly all European countries in this market as well. This marks the start of an annual reserved capital injection to which only Dexia members of staff can subscribe.
In 2001, Dexia acquires Artesia Banking Corporation, a banking group active in retail banking (BACOB), insurance (LAP), investment banking (Artesia) and asset management (Cordius). The stake in Crediop grows to 70%, and Dexia becomes main shareholder in Otzar Hashilton Hamekomi, an Israeli credit provider for local authorities. The integration of the Artesia branches in Belgium begins in 2002. The fusion between Dexia Bank and Artesia BC brings a certain number of advantages all the while meeting certain objectives: increase retail customer base from 15 to 25%, become a market leader in bancassurance, become a fully fledged participant in private banking activities, become one of the top 3 asset managers on the Belgian market and remain the leading bank in the public and non-profit sector.
Dexia acquires 99.8% of the Turkish firm Denizbank in 2006 and creates an Institutional Investment Joint Venture with Royal Bank of Canada the same year: a 50/50 Partnership called RBC Dexia Investor Services.
Recent events.
Management Committee.
On 5 September 2011, Jos Clijsters, at the time adviser to the Dexia SA management committee, is appointed chairman of the management committee of Dexia Bank Belgium, replacing Stefaan Decraene, who leaves the group to assume an international post at another bank.
On 1 January 2014, Jos Clijsters left his position as Chairman of the Management Board for the position of Chairman of the Board of Directors. Marc Raisière succeeded him as Chairman of the Management Board.
Purchase by the Belgian State.
On 4 October 2011, in the wake of a series of negative news, in the space of one day customers withdrew 300 million Euros from the bank. In response to this news, the Belgian and French governments, declaring themselves guarantors of the bank, wish to split the company to save the healthy parts and isolate the toxic parts.
On 10 October 2011, the take-over of Dexia Group’s Belgian subsidiary, Dexia Bank Belgium, by the Belgian State, is announced. This is completed at a cost of EUR 3.73 billion (270 million short of 4 billion). The Belgian State also decides to take a 60.5% stake in the financial guarantee mechanism for Dexia SA (60.5% of 90 billion, i.e., 54.45 billion).
On 19 March 2012, the Dexia share exits the BEL 20.
Name.
On 1 March 2012, Dexia Bank Belgium became Belfius Bank and Insurance. The new name Belfius comprises the "Bel" of "Belgium", the "fi" of "finances" and the English pronoun "us".