Saint-Tropez Saint-Tropez Saint-Tropez (; "" in Provençal dialect) is a town on the French Riviera, west of Nice in the Var department of the Provence-Alpes-Côte d'Azur region of southeastern France. Saint-Tropez was a military stronghold and fishing village until the beginning of the 20th century. It was the first town on this coast to be liberated during World War II as part of Operation Dragoon. After the war, it became an internationally known seaside resort, renowned principally because of the influx of artists of the French New Wave in cinema and the Yé-yé movement in music. It later became a resort
Lender of last resort the requisite institutions did not exist, or the authorities did not understand the proper actions to take. Most countries developed an effective LLR mechanism by the last one-third of the nineteenth century. The U.S. was the principal exception. Some public authority must provide the lender of last resort function... Such an authority does not have to be a central bank. This is evident from the experience of Canada and other countries." Wood compares the reaction of central banks to different crises in England, France, and Italy. When a lender of last resort existed, panics did not turn into crises. When