Historical Events From We Didn t Start The Fire You Don t Know Anything About
By Marina Manoukian/March 2, 2021 4:37 pm EDT
When was the last time you actually thought about the lyrics to We Didn t Start The Fire? Take a listen and see if you recognize all of the historical events that it lists. In Billy Joel s iconic song, he lists over 100 famous events and people starting in the year 1949, the year that Joel was born, and ending in 1989, the year that the song was released.
While the song isn t an exhaustive list of historical events, it shed a light on what was being talked about in the media at the time. And many of the events ended up having lasting impact that can be felt over half a century later. However, although all of the events mentioned in the song were once headline stories, some of them have faded from public memory.
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If you thought the European Union’s bickering about fiscal policy was bad in recent decades, get ready for an epic squabble once this pandemic is over.
Owing to the coronavirus, the EU’s rules on debts and deficits have been suspended and most member states have vastly overshot their normal limits. But at some point next year we’ll have to talk about how fast to apply the rules again. Given the extraordinary macroeconomic situation, it’ll be tempting to tweak them for the umpteenth time.
There’s a better way: Don’t change the rules, get rid of them. Let’s replace them with something that allows for sound economic judgment. Instead of rules, let’s have standards.
IMF to roll out new method to judge debt sustainability Reuters 2/3/2021
WASHINGTON, Feb 3 (Reuters) - The International Monetary Fund said on Wednesday it is launching a new method of assessing debt sustainability for countries with access to financial markets to more accurately predict risks of financial crises and improve transparency.
The update of the debt assessment methodology, the first since 2013 in the wake of a European sovereign debt crisis, is expected to be operational by the fourth quarter of 2021 or the first quarter of 2022, IMF officials said.
Assessing a country s debt sustainability has always been more art than science, and the new system aims to inject a bit more science into the process, Jeromin Zettelmeyer, deputy director of the IMF Strategy, Policy and Review Department, told a Web briefing.
IMF to launch new method for judging debt sustainability
The update of the debt assessment methodology, the first since 2013 in the wake of a European sovereign debt crisis, is expected to be operational by the fourth quarter of 2021 or the first quarter of 2022, IMF officials said
Reuters | February 4, 2021 | Updated 09:25 IST
The assessments are important because they help determine how much a country can borrow and still meet the IMF s stringent requirements that its debt does not fall into an unsustainable situation
The International Monetary Fund said on Wednesday it is launching a new method of assessing debt sustainability for countries with access to financial markets to more accurately predict risks of financial crises and improve transparency.