• There was always the risk that once the Barnes embraced the idea of relocation as a cure-all, other institutions would resort to the same thing.

    WSJ: Corcoran Gallery of Art | Another Museum Mulls Pulling Up Stakes | By Eric Gibson

  • But no, he has not ruled out the ECB acting as a lender of last resort for European financial institutions - particularly in the crisis economies.

    BBC: Draghi's message for artful euro-dodgers

  • The first set of tools, which are closely tied to the central bank's traditional role as the lender of last resort, involve the provision of short-term liquidity to sound financial institutions.

    FORBES: The Crisis and the Policy Response

  • That emergency liquidity has not followed the Bagehot formula for last resort lending, because there has been no penalty rate, and the institutions concerned are not necessarily solvent - notably the Greek ones.

    BBC: A happy ending for the euro?

  • In the mid-1990s, Russian targets for tax collection were repeatedly thwarted by a tendency first to overestimate the government's capacity to raise revenues and then, when faced with chronic shortfalls, to resort to apparently attractive shortcuts that promised quick fixes to problems that required institutions to be built up slowly.

    ECONOMIST: The Russian default

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