The only question seems to be, to which deflationary period in history can we compare our present crisis?
Fixing the present crisis and planning the future requires more creativity than that.
Inevitably, the present crisis has encouraged the prime minister's instinct for detaching himself from the fray of party politics.
Even the cause of the present crisis should have been anticipated from past difficulties with the automated docking system.
Mr Tusk has no wish to adopt the euro in its present crisis.
Because the injury the present crisis has dealt the international system is great indeed, the system's reinvigoration is urgent--and possible.
The causes of the present crisis in British agriculture may be clear, but they will be neither easy nor quick to solve.
Were the Bush administration to confine itself to such tactical responses to the present crisis, however, it would be making a grave error.
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Mr. BOGLE: I foresee a fairly extended period where the present crisis in the financial system will spread out somewhat to the general economy.
The present crisis is, in no small measure, the handiwork of Rep. David Obey (D-WI), chairman of the powerful House Appropriations Subcommittee on Foreign Operations.
Should Saddam Hussein instead survive the present crisis with his despotic political control and his arsenal intact, we should expect yet another, perhaps even more sinister, by-product.
But one of the unremarked ironies of the present crisis is that America's financial vulnerabilities came fully into view months before Europe's (or the rest of the world's) did.
Perhaps the curators will, in time, be persuaded to make space for a fuller exploration of the present crisis by ditching some of the less scintillating exhibits, such as the cabinets full of tradable commodities.
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Stephen Conroy, the communications minister, openly accused the Sydney Daily Telegraph of trying to force an early election and to bring down Gillard's minority government (although his accusations that the Telegraph favour regime change pre-date the present crisis).
It strains credulity that Gorbachev's evident hope of "toughing out" the present crisis is unrelated to the substantial emergency assistance to the central authorities in Moscow now being contemplated by the Bush Administration and its counterparts in allied capitals.
The present crisis demands such boldness.
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That said, the present crisis is undoubtedly the most serious the two nations have faced since the 1971 war and even with major international diplomatic input it will still be extremely difficult to find a face-saving formula to allow the protagonists to disengage.
Still, it would be foolish to ignore the possibility that the repercussions of the present crisis will be made much more far-reaching if it precipitates the sort of panic that took hold after the accident at the Three Mile Island nuclear facility in 1979 or the oil leak off Santa Barbara a decade earlier.
In so doing, the former U.S. Ambassador to Yugoslavia, ertswhile American-Yugoslav entrepreneur (involved in banking arrangements and "Yugo" automobile franchises) and current resident "expert" on Yugoslavia in the State Department exemplified the failure of Bush Administration policy toward this crisis: He ignored the very real responsibility Washington and other Western capitals share for the present crisis.
As long as the Western powers persist in willfully deluding themselves about the true nature and direction of Russia, they will not only persist in squandering large amounts of taxpayer funds on Moscow and continue to ignore the fact that the undisciplined transfers of billions in financial aid to that country, particularly since the early 1990s, has contributed to its present crisis.
In one respect alone can the two be usefully compared: In the present crisis -- as was the case in the Vietnam war -- our success or failure ultimately must rely upon the ability of the U.S. government to analyze vital American interests correctly, to define an appropriate strategy for promoting those interests and to provide the public with the necessary, credible and steady leadership.
If the conditions for a crisis are present, then the crisis will come at some point, and the conditions are present for a jump in inflation.
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In the face of the present economic crisis, many governments have bought time by sending foreign workers home.
The EU and the UK seem to be avoiding a systemic solution to the present financial crisis in favor of a tactical cure.
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This is because the biggest impediment to a global capital market is not volatile exchange rates, nor timid investors, nor even the present Asian crisis.
Living as we do in turbulent times, we are, as throughout history, denied the luxury of knowing how future generations will look back on the present financial crisis.
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