History of the British national debt both government borrowing and the national debt have risen dramatically, reaching around 70% of GDP by the end of 2012. The origins of the British national debt can be found during the reign of William III, who engaged a syndicate of City traders and merchants to offer for sale an issue of government debt. This syndicate soon evolved into the Bank of England, eventually financing the wars of the Duke of Marlborough and later Imperial conquests. The establishment of the bank was devised by Charles Montagu, 1st Earl of Halifax, in 1694, to the plan which had been proposed by
Coronation of the Russian monarch Coronation of the Russian monarch Coronations in Russia involved a highly developed religious ceremony in which the Emperor of Russia (generally referred to as the Tsar) was crowned and invested with regalia, then anointed with chrism and formally blessed by the church to commence his reign. Although rulers of Muscovy had been crowned prior to the reign of Ivan III, their coronation rituals assumed overt Byzantine overtones as the result of the influence of Ivan's wife Sophia Paleologue, and the imperial ambitions of his grandson, Ivan IV. The modern coronation, introducing "Western European-style" elements, replaced the previous "crowning" ceremony and