European Union
The European Union is a political and economic union of 28 member states that are located in Europe. It has an area of an estimated population of about 513 million; the EU has developed an internal single market through a standardised system of laws that apply in all member states in those matters, only those matters, where members have agreed to act as one. EU policies aim to ensure the free movement of people, goods and capital within the internal market, enact legislation in justice and home affairs and maintain common policies on trade, agriculture and regional development. For travel within the Schengen Area, passport controls have been abolished. A monetary union was established in 1999 and came into full force in 2002 and is composed of 19 EU member states which use the euro currency; the EU and European citizenship were established when the Maastricht Treaty came into force in 1993. The EU traces its origins to the European Coal and Steel Community and the European Economic Community, established by the 1951 Treaty of Paris and 1957 Treaty of Rome.
The original members of what came to be known as the European Communities were the Inner Six: Belgium, Italy, the Netherlands, West Germany. The Communities and its successors have grown in size by the accession of new member states and in power by the addition of policy areas to its remit; the latest major amendment to the constitutional basis of the EU, the Treaty of Lisbon, came into force in 2009. While no member state has left the EU or its antecedent organisations, the United Kingdom signified the intention to leave after a membership referendum in June 2016 and is negotiating its withdrawal. Covering 7.3% of the world population, the EU in 2017 generated a nominal gross domestic product of 19.670 trillion US dollars, constituting 24.6% of global nominal GDP. Additionally, all 28 EU countries have a high Human Development Index, according to the United Nations Development Programme. In 2012, the EU was awarded the Nobel Peace Prize. Through the Common Foreign and Security Policy, the EU has developed a role in external relations and defence.
The union maintains permanent diplomatic missions throughout the world and represents itself at the United Nations, the World Trade Organization, the G7 and the G20. Because of its global influence, the European Union has been described as an emerging superpower. During the centuries following the fall of Rome in 476, several European States viewed themselves as translatio imperii of the defunct Roman Empire: the Frankish Empire and the Holy Roman Empire were thereby attempts to resurrect Rome in the West; this political philosophy of a supra-national rule over the continent, similar to the example of the ancient Roman Empire, resulted in the early Middle Ages in the concept of a renovatio imperii, either in the forms of the Reichsidee or the religiously inspired Imperium Christianum. Medieval Christendom and the political power of the Papacy are cited as conducive to European integration and unity. In the oriental parts of the continent, the Russian Tsardom, the Empire, declared Moscow to be Third Rome and inheritor of the Eastern tradition after the fall of Constantinople in 1453.
The gap between Greek East and Latin West had been widened by the political scission of the Roman Empire in the 4th century and the Great Schism of 1054. Pan-European political thought emerged during the 19th century, inspired by the liberal ideas of the French and American Revolutions after the demise of Napoléon's Empire. In the decades following the outcomes of the Congress of Vienna, ideals of European unity flourished across the continent in the writings of Wojciech Jastrzębowski, Giuseppe Mazzini or Theodore de Korwin Szymanowski; the term United States of Europe was used at that time by Victor Hugo during a speech at the International Peace Congress held in Paris in 1849: A day will come when all nations on our continent will form a European brotherhood... A day will come when we shall see... the United States of America and the United States of Europe face to face, reaching out for each other across the seas. During the interwar period, the consciousness that national markets in Europe were interdependent though confrontational, along with the observation of a larger and growing US market on the other side of the ocean, nourished the urge for the economic integration of the continent.
In 1920, advocating the creation of a European economic union, British economist John Maynard Keynes wrote that "a Free Trade Union should be established... to impose no protectionist tariffs whatever against the produce of other members of the Union." During the same decade, Richard von Coudenhove-Kalergi, one of the first to imagine of a modern political union of Europe, founded the Pan-Europa Movement. His ideas influenced his contemporaries, among which Prime Minister of France Aristide Briand. In 1929, the latter gave a speech in favour of a European Union before the assembly of the League of Nations, precursor of the United Nations. In a radio address in March 1943, with war still raging, Britain's leader Sir Winston Churchill spoke warmly of "restoring the true greatness of Europe" once victory had been achieved, mused on the post-war creation of a "Council of Europe" which would bring the European nations together to build peace. After World War II, European integration was seen as an antidote to the extreme nationalism which had devastated the continent.
In a speech delivered on 19
Greek government-debt crisis
The Greek government-debt crisis is the sovereign debt crisis faced by Greece in the aftermath of the financial crisis of 2007–08. Known in the country as The Crisis, it reached the populace as a series of sudden reforms and austerity measures that led to impoverishment and loss of income and property, as well as a small-scale humanitarian crisis. In all, the Greek economy suffered the longest recession of any advanced capitalist economy to date, overtaking the US Great Depression; as a result, the Greek political system has been upended, social exclusion increased, hundreds of thousands of well-educated Greeks have left the country. The Greek crisis started in late 2009, triggered by the turmoil of the world-wide Great Recession, structural weaknesses in the Greek economy, lack of monetary policy flexibility as a member of the Eurozone,and revelations that previous data on government debt levels and deficits had been underreported by the Greek government; this led to a crisis of confidence, indicated by a widening of bond yield spreads and rising cost of risk insurance on credit default swaps compared to the other Eurozone countries Germany.
The government enacted 12 rounds of tax increases, spending cuts, reforms from 2010 to 2016, which at times triggered local riots and nationwide protests. Despite these efforts, the country required bailout loans in 2010, 2012, 2015 from the International Monetary Fund and European Central Bank, negotiated a 50% "haircut" on debt owed to private banks in 2011, which amounted to a €100bn debt relief. After a popular referendum which rejected further austerity measures required for the third bailout, after closure of banks across the country, on June 30, 2015, Greece became the first developed country to fail to make an IMF loan repayment on time. At that time, debt levels had reached some € 30,000 per capita. Between 2009 and 2017 the Greek government debt rose from €300 bn to €318 bn, i.e. by only about 6%. Greece, like other European nations, had faced debt crises in the 19th century, as well as a similar crisis in 1932 during the Great Depression. In general, during the 20th century it enjoyed one of the highest GDP growth rates in the world.
Average Greek government debt-to-GDP for the entire century before the crisis was lower than that for the UK, Canada or France, while for the 30-year period until its entrance into the European Economic Community, the Greek government debt-to-GDP ratio averaged only 19.8%. Between 1981 and 1993 it rose, surpassing the average of what is today the Eurozone in the mid-1980s. For the next 15 years, from 1993 to 2007, Greece's government debt-to-GDP ratio remained unchanged, averaging 102% – a value lower than that for Italy and Belgium during the same 15-year period, comparable to that for the U. S. or the OECD average in 2017. During the latter period, the country's annual budget deficit exceeded 3% of GDP, but its effect on the debt-to GDP ratio was counterbalanced by high GDP growth rates; the debt-to GDP values for 2006 and 2007 were established after audits resulted in corrections according to Eurostat methodology, of up to 10 percentage points for the particular years. These corrections, although altering the debt level by a maximum of about 10%, resulted in a popular notion that "Greece was hiding its debt".
The 2001 introduction of the euro reduced trade costs between Eurozone countries, increasing overall trade volume. Labour costs increased more in peripheral countries such as Greece relative to core countries such as Germany without compensating rise in productivity, eroding Greece's competitive edge; as a result, Greece's current account deficit rose significantly. A trade deficit means that a country is consuming more than it produces, which requires borrowing/direct investment from other countries. Both the Greek trade deficit and budget deficit rose from below 5% of GDP in 1999 to peak around 15% of GDP in the 2008–2009 periods. One driver of the investment inflow was Greece's membership in the Eurozone. Greece was perceived as a higher credit risk alone than it was as a member of the Eurozone, which implied that investors felt the EU would bring discipline to its finances and support Greece in the event of problems; as the Great Recession spread to Europe, the amount of funds lent from the European core countries to the peripheral countries such as Greece began to decline.
Reports in 2009 of Greek fiscal mismanagement and deception increased borrowing costs. A country facing
Theodoros Pangalos (politician)
Theodoros Pangalos is a Greek politician, leading member of the Panhellenic Socialist Movement. He served as the Deputy Prime Minister of Greece, responsible for the coordination of the Government Council for Foreign Affairs and Defense and the new Economic & Social Policy Committee from 2009 to 2012 Pangalos was born in Eleusis, Greece, he is 1926 dictator Theodoros Pangalos. Some of his ancestors were of Arvanite origin. Pangalos was member of the left-wing Lambrakis Youth and, in 1964, a candidate for the Hellenic Parliament with the United Democratic Left. Pangalos opposed the 1967 military dictatorship, was deprived by the junta of his Greek citizenship in 1968, he became a member of the Communist Party of Greece, rising to its Central Committee, before joining the PASOK socialist party during the Metapolitefsi. He was elected for the first time as a MP in the 1981 general election with PASOK and has been continuously re-elected since until 2012. In 1996 he was appointed as a Minister for Foreign Affairs and held the post until his resignation in 1999, in the aftermath of the scandal involving the Kurdish nationalist leader, Abdullah Öcalan: helped by individual members of the Greek intelligence agencies Öcalan entered Greece illegally and was deported to Kenya, where he was captured by Turkish agents after leaving the Greek embassy at Nairobi.
He was made Minister for Culture in 2000, an appointment, criticized, in view of his previous statement that artists who had protested his handling of the Öcalan affair were'kouradomanges'. Theodoros Pangalos is famous for his colorful language and insulting comments about political opponents and foreign dignitaries. In 1989, he threatened "to turn the parliament into Beijing, a reference to the recent Tiananmen Square massacre in the face of a political understanding between the Right and the Left for the formation of government. Ten years he described the Greek parliament as being composed of "Kenyan delegates" in reaction to the outcry brought about by his mismanagement of the Öcalan affair. In 1997, he described the Turkish establishment as "murderers and thieves" in the midst of disagreements over the Turkish candidacy for entry into the European Union. Six months earlier, Theodoros Pangalos had, in sharp contrast to his statements, declared that "Turkey belongs in Europe, as it is a part of European history".
He is known to express opinions which contradict the official stance of the Panhellenic Socialist Movement while he has used strong language against numerous politicians including Georgios Alogoskoufis, the former Minister for Economy and Finance with the New Democracy party. When in the course of the global financial crisis of 2007–2010 the Greek state became unable to service its debt, Pangalos demanded reparations from Germany for the war crimes committed during World War II as an alternative to the austerity measures demanded by the nation's creditors, yet in 2010, he angered Greeks when, responding to claims that the misappropriation of state funds had led to the country's insolvency, he spoke out in favor of austerity measures and accused all citizens with the words "Mazi ta fagame"". Pangalos has stated on numerous occasions, his year further deteroriated when he was caught stating that Greeks are lazy and Turks are hard workers while on an official visit to Turkey where he was supposed to be promoting Greek banks investing in Turkey.
Once again he denied he had made these comments or given an interview to Hurriyet and accused his accusers of lying. ND spokesman Yiannis Michelakis labeled Panagalos as being “out of control” and called for some action. Pangalos said he would sue the Eleftheros Typos newspaper over its report, which labeled him a “liar.” Things than got worse for Pangalos as the Turkish journalist had recorded him making the remarks in question and thus ending the debate. In 2014, Pangalos insulted Rena Dourou, Syriza's candidate for regional governor of Attica, stating in a radio interview that he could not stand seeing posters of Ms. Dourou’s "filthy face" all over Athens and that he preferred "to see her campaign complete with a full-body picture of her with a bikini." A Greek experimental pop band named Plastic Flowers sampled his famous speech'Mazi ta fagame' in their song'Sinking ship-vanished crew'. Official Website of Theodoros Pangalos Terms of office of Theodoros Pangalos at the Hellenic Parliament Theodoros Pangalos on IMDb
Goethe University Frankfurt
University of Frankfurt is a university located in Frankfurt, Germany. It was founded in 1914 as a citizens' university, which means it was founded and funded by the wealthy and active liberal citizenry of Frankfurt; the original name was Universität Frankfurt. In 1932, the university's name was extended in honour of one of the most famous native sons of Frankfurt, the poet and writer/dramatist Johann Wolfgang von Goethe; the university has around 45,000 students, distributed across four major campuses within the city. The university celebrated its 100th anniversary in 2014; the first female president of the university, Birgitta Wolff, was sworn into office in 2015. 18 Nobel Prize winners have been affiliated with the university, including Max von Laue and Max Born. The university is affiliated with 11 winners of the prestigious Gottfried Wilhelm Leibniz Prize; the roots of the university go back to 1484 where the Universitätsbibliothek Johann Christian Senckenberg was founded, part of the university now.
The university has best been known for its Institute for Social Research, the institutional home of the Frankfurt School, a preeminent 20th century school of philosophy and social thought. Some of the well-known scholars associated with this school include Theodor Adorno, Max Horkheimer, Jürgen Habermas, as well as Herbert Marcuse, Erich Fromm, Walter Benjamin. Other well-known scholars at the University of Frankfurt include the sociologist Karl Mannheim, the philosopher Hans-Georg Gadamer, the philosophers of religion Franz Rosenzweig, Martin Buber, Paul Tillich, the psychologist Max Wertheimer, the sociologist Norbert Elias; the University of Frankfurt has at times been considered liberal, or left-leaning, has had a reputation for Jewish and Marxist scholarship. During the Nazi period, "almost one third of its academics and many of its students were dismissed for racial and/or political reasons—more than at any other German university"; the university played a major part in the German student movement of 1968.
The university has been influential in the natural sciences and medicine, with Nobel Prize winners including Max von Laue and Max Born, breakthroughs such as the Stern–Gerlach experiment. In recent years, the university has focused in particular on law and economics, creating new institutes, such as the Institute for Law and Finance and the Center for Financial Studies. One of the university's ambitions is to become Germany's leading university for finance and economics, given the school's proximity to one of Europe's financial centers; the Goethe Business School offers a M. B. A. program, in cooperation with Duke University’s Fuqua School of Business. Goethe university has established an international award for research in financial economics, the Deutsche Bank Prize in Financial Economics; the university consists of 16 faculties. Ordered by their sorting number, these are:： 01. Rechtswissenschaft 02. Wirtschaftswissenschaften 03. Gesellschaftswissenschaften 04. Erziehungswissenschaften 05. Psychologie und Sportwissenschaften 06.
Evangelische Theologie 07. Katholische Theologie 08. Philosophie und Geschichtswissenschaften 09. Sprach- und Kulturwissenschaften 10. Neuere Philologien 11. Geowissenschaften/Geographie 12. Informatik und Mathematik 13. Physik 14. Biochemie, Chemie und Pharmazie 15. Biowissenschaften 16. Medizin In addition, there are several co-located research institutes of the Max Planck Society: Max Planck Institute of Biophysics Max Planck Institute for Brain Research Max Planck Institute for European Legal History The University is located across four campuses in Frankfurt am Main: Campus Westend:Headquarters of the university housing Social sciences, Psychology, Philosophy, Philology, Law and Business Administration, Human geography Campus Bockenheim:University library, Computer science, Art history, Fine Arts Campus Riedberg:Pharmacy, Chemistry, Biology and Geography Campus Niederrad:Medical science, University hospital Other facilities include the university sports complex on Ginnheimer Landstraße in Frankfurt-Bockenheim.
“Campus Westend” of the University is dominated by the IG Farben Building by architect Hans Poelzig, an example of the modernist New Objectivity style. The style for the IG Farben Building was chosen as "a symbol for the scientific and mercantile German manpower, made out of iron and stone", as the IG Farben director at the time of construction, Baron von Schnitzler, stated in his opening speech in October 1930. After the university took over the complex, new buildings were added to the campus. On 30 May 2008, the House of Finance relocated to a new building designed by the architects Kleihues+Kleihues, following the style of the IG Farben Building; the upper floors of the House of Finance building have several separate offices as well as shared office space for researchers and students. The ground floor is open to the public and welcomes visitors with a spacious lit foyer that leads to lecture halls, seminar rooms, the information center, a 24-hour reference library; the ground floor accommodates computer rooms and a café.
The floors and ceiling of the foyer are decorated with
Kingdom of Greece
The Kingdom of Greece was a state established in 1832 at the Convention of London by the Great Powers. It was internationally recognised by the Treaty of Constantinople, where it secured full independence from the Ottoman Empire; this event marked the birth of the first independent Greek state since the fall of the Byzantine Empire to the Ottomans in the mid-15th century. The Kingdom succeeded from the Greek provisional governments after the Greek War of Independence, lasted until 1924. In 1924 the monarchy was abolished, the Second Hellenic Republic was established, after Greece's defeat by Turkey in the Asia Minor Campaign, it lasted until 1935. The restored Kingdom of Greece lasted from 1935 to 1973; the Kingdom was again dissolved in the aftermath of the seven-year military dictatorship, the Third Republic, the current Greek state, came to be, after a popular referendum. Most of Greece became part of the Ottoman Empire in the 15th century; the Eastern Roman, the direct continuation to the ancient Roman Empire who ruled most of the Greek-speaking world for over 1100 years, had been fatally weakened since the sacking of Constantinople by the Latin Crusaders in 1204.
The Ottoman advance into Greece was preceded by a victory over the Serbs to its north. First, the Ottomans won at 1371 on the Maritsa River – where the Serb forces were led by the King Vukašin of Serbia, the father of Prince Marko and the co-ruler of the last emperor from the Serbian Nemanjic dynasty; this was followed by a draw in the 1389 Battle of Kosovo. With no further threat by the Serbs and the subsequent Byzantine civil wars, the Ottomans captured Constantinople in 1453 and advanced southwards into Greece, capturing Athens in 1458; the Greeks held out in the Peloponnese until 1460, the Venetians and Genoese clung to some of the islands, but by 1500 most of the plains and islands of Greece were in Ottoman hands. The mountains of Greece were untouched, were a refuge for Greeks to flee foreign rule and engage in guerrilla warfare. Cyprus fell in 1571, the Venetians retained Crete until 1670; the Ionian Islands were only ruled by the Ottomans, remained under the rule of Venice. In the context of ardent desire for independence from Turkish occupation, with the explicit influence of similar secret societies elsewhere in Europe, three Greeks came together in 1814 in Odessa to decide the constitution for a secret organization in freemasonic fashion.
Its purpose was to unite all Greeks in an armed organization to overthrow Turkish rule. The three founders were Nikolaos Skoufas from the Arta province, Emmanuil Xanthos from Patmos and Athanasios Tsakalov from Ioannina. Soon after they initiated a fourth member, Panagiotis Anagnostopoulos from Andritsaina. Lots of revolts were planned across the Greek region and the first of them was launched on 6 March 1821, in the Danubian principalities, it was put down by the Ottomans, but the torch had been lit and by the end of the same month the Peloponnese was in open revolt. In 1821, the Greeks rose up against the Ottoman Empire. Following a protracted struggle, the autonomy of Greece was first recognized by the Great Powers in 1828. Count Ioannis Kapodistrias became Governor of Greece in 1827, but was assassinated in 1831. At the insistence of the Powers, the 1832 Treaty of London made Greece a monarchy. Prince Leopold of Saxe-Coburg and Gotha was the first candidate for the Greek throne. Otto of Wittelsbach, Prince of Bavaria was chosen as its first King.
Otto arrived at Nafplion, in 1833 aboard a British warship. Otto's reign would prove troubled, but managed to last for 30 years before he and his wife, Queen Amalia, left the way they came, aboard a British warship. During the early years of his reign, a group of Bavarian Regents ruled in his name and made themselves unpopular by trying to impose German ideas of rigid hierarchical government on the Greeks, while keeping most significant state offices away from them, they laid the foundations of a Greek administration, justice system and education system. Otto was sincere in his desire to give Greece good government, but he suffered from two great handicaps, his Roman Catholic faith, the fact that his marriage to Queen Amalia remained childless. Furthermore, the new Kingdom tried to eliminate the traditional banditry, something that in many cases meant conflict with some old revolutionary fighters who continued to exercise this practice; the Bavarian Regents ruled until 1837, when at the insistence of Britain and France, they were recalled, Otto after that appointed Greek ministers, although Bavarian officials still ran most of the administration and the army.
But Greece still had no constitution. Greek discontent grew until a revolt broke out in Athens in September 1843. Otto agreed to grant a constitution, convened a National Assembly which met in November; the new constitution created a bicameral parliament, consisting of a Senate. Power passed into the hands of a group of politicians, most of whom had been commanders in the War of Independence against the Ottomans. Greek politics in the 19th century was dominated by the national question. Greeks dreamed of liberating them all and reconstituting a state embracing all the Greek lands, with Constantinople as its capital; this was called the Great Idea, it was sustained by cont
Wim Duisenberg
Willem Frederik "Wim" Duisenberg was a Dutch Labour Party politician who served as the first President of the European Central Bank from 1998 to 2003. He served as President of the European Monetary Institute from 1997 to 1998, President of the Central Bank of the Netherlands from 1982 to 1997, Minister of Finance from 1973 to 1977, he was elected to the House of Representatives from 1977 to 1978. Duisenberg, an economist by occupation, worked for the International Monetary Fund and the Central Bank of the Netherlands from 1966 until 1970. Duisenberg became a professor of Macroeconomics at the University of Amsterdam in 1970. After the Dutch general election of 1972 Duisenberg was asked by the Labour Party to become Minister of Finance in the Cabinet Den Uyl under Prime Minister Joop den Uyl. Duisenberg accepted and resigned as a professor the day the Cabinet Den Uyl was installed on 11 May 1973. Duisenberg remained Minister of Finance until the Cabinet Van Agt I was installed on 19 December 1977.
He was elected as a Member of the House of Representatives after Dutch general election of 1977, serving from 8 June 1977 until 8 September 1977 and from 16 January 1978 until 28 June 1978. After his secretaryship, Duisenberg worked for the Central Bank of the Netherlands from 1 August 1978 until 1 January 1982 when he became the President of the Central Bank of the Netherlands serving until 1 July 1997 when he became the President of the European Monetary Institute which became the European Central Bank. Duisenberg served as the first President of the European Central Bank from 1 July 1998 until 1 November 2003, he was instrumental in the introduction of the euro in the European Union in 2002. Duisenberg retired from active politics at the age of sixty-eight. Following the end of his active political career, Duisenberg occupied numerous seats on supervisory boards in the business and industry world and international non-governmental organizations. Duisenberg was known for his distinct Frisian accent and his abilities as an acclaimed financier and renowned economist were admired.
Willem Frederik Duisenberg was born on 9 July 1935 in the Frisian city of Heerenveen in the Netherlands. He was the son of Lammert Duisenberg, a waterworks supervisor, Antje Ykema, he went to a public primary school in his hometown. He went to secondary school, first one year of hogere burgerschool and gymnasium with natural sciences in Heerenveen. In 1954, Duisenberg moved to Haren, he studied at the University of Groningen in Groningen from 1954 to 1961, where he received his doctorandus degree cum laude in economics, majoring in international relations. He was a member of Groninger Studentencorps Vindicat atque Polit. In 1959, he became a member of the Labour Party. In 1960, he married Tine Stelling. In 1965, he obtained his doctor degree with his thesis De economische gevolgen van de ontwapening under the supervision of professor F. J. de Jong. Duisenberg subsequently worked for the International Monetary Fund in Washington, D. C. for years followed by a year as an advisor to the director of the Nederlandsche Bank, the Dutch central bank in Amsterdam.
He was appointed a professor at the University of Amsterdam where he taught macroeconomics. From 1973 to 1977, Duisenberg was Minister of Finance under Prime Minister Joop den Uyl. Shortly afterwards, he gave up his seat in the Dutch parliament to become vice president of Rabobank, a Dutch bank. Two years he was appointed director of the Nederlandsche Bank, serving as its president from 1982 to 1997, his tenure at the Dutch central bank was marked by reserve. Under his direction, the Dutch guilder was linked to the German Deutsche Mark, this benefited the Dutch economy, owing to the strength of the German currency, he followed German central bank's interest rate policies which earned him the nickname "Mr Fifteen Minutes" because he followed any interest rate changes made by the Deutsche Bundesbank. Owing to the success of his monetary policy, he became well known in other European countries, this led to his appointment in 1998 as the first president of the new European Central Bank in Frankfurt, much to the chagrin of France, who wanted a French candidate.
A compromise was agreed upon whereby Duisenberg would serve for at least four years, upon which the Frenchman Jean-Claude Trichet, director of the Banque de France, would take over. In 1999, Duisenberg received the Vision for Europe Award in recognition of his efforts toward the unification of Europe. During his tenure at the bank, Dr. Duisenberg was known for his cautious monetary policy and for defending the euro through its early years, he sometimes frustrated investors and politicians by sticking to the bank's inflation-fighting stance, keeping rates higher than some would have liked. "I hear, but I don't listen" to such pleas, was one of his blunt responses. Dr. Duisenberg said it was up to European governments to pursue structural changes such as loosening rigid rules on hiring and firing personnel if they wanted more growth. Duisenberg announced he would retire on 9 July 2003, but he remained in office until Trichet was cleared of charges of fraud in connection with the collapse of the French bank Crédit Lyonnais.
Trichet took over presidency of the ECB on 1 November 2003. Duisenberg died in 2005 at the age of 70 while on vacation at his villa in Faucon near Orange, France, he drowned in his swimming pool after suffering a heart attack. A commemoration service was held
John F. Kennedy School of Government
The John F. Kennedy School of Government at Harvard University is a public policy and public administration school, of Harvard University in Cambridge, United States; the school offers master's degrees in public policy, public administration, international development, grants several doctoral degrees, many executive education programs. It conducts research in subjects relating to politics, international affairs, economics. Since 1970 the school has graduated 17 heads of the most of any educational institution; the School's primary campus is located on John F. Kennedy Street in Cambridge; the main buildings overlook the Charles River, southwest of Harvard Yard and Harvard Square, on the site of a former MBTA Red Line trainyard. The School is adjacent to the public riverfront John F. Kennedy Memorial Park. In 2015, Douglas Elmendorf, the former director of the U. S. Congressional Budget Office who had served as a Harvard faculty member, was named Dean of the Harvard Kennedy School and Don K. Price Professor of Public Policy.
From 2004 to 2015, the School's Dean was David T. Ellwood, the Scott M. Black Professor of Political Economy at HKS. Ellwood was an assistant secretary in the Department of Health and Human Services in the Clinton Administration. A major $120m expansion and renovation of the campus began in 2015; the project was completed in late 2017 with an official opening in December 2017. Harvard Kennedy School was the Harvard Graduate School of Public Administration, was founded in 1936 with a $2 million gift from Lucius N. Littauer, a graduate of Harvard College, its shield was designed to express the national purpose of the school and was modeled after the U. S. shield. The School drew its initial faculty from Harvard's existing government and economics departments, welcomed its first students in 1937; the School's original home was in the Littauer Center north of Harvard Yard, now the home of the Harvard Faculty of Arts and Sciences Economics Department. The first students at the Graduate School were so-called "Littauer Fellows", participating in a one-year course listing which developed into the school's mid-career Master in Public Administration program.
In the 1960s, the School began to develop today's public policy degree and course curriculum in the Master in Public Policy program. In 1966, the School was renamed for President John F. Kennedy. By 1978, the faculty—notably presidential scholar and adviser Richard Neustadt, foreign policy scholar and dean of the School Graham Allison, Richard Zeckhauser, Edith Stokey—had orchestrated the consolidation of the School's programs and research centers in the present campus. Under the terms of Littauer's original grant, the current HKS campus features a building called Littauer. In addition to playing a critical role in the development of the School's modern era, who at the time served as the Assistant Dean, was the founding Director of the Harvard Institute of Politics, created in 1966 in honor of President Kennedy; the IOP has been housed on the Kennedy School campus since 1978, today the Institute puts on a series of programs and study groups for Harvard undergraduates and graduate students. The John F. Kennedy, Jr. Forum in the new Littauer building is both the site of IOP forum events as well as a major social gathering place between HKS courses.
In 2012 the school announced a $500m fundraising campaign of which over $120m was to be used to expand the campus adding 91,000 square feet of space that will include six new classrooms, a new kitchen, dining facility and meeting spaces, a new student lounge and study space, more collaboration and active learning spaces as well as a redesigned central courtyard. Groundbreaking commenced on May 7, 2015 and the project was completed in late 2017, it was opened in December 2017. Harvard Kennedy School offers four master's degree programs; the two-year Master in Public Policy program focuses on policy analysis, management, ethics and negotiations in the public sector. There are three separate Master in Public Administration programs: a one-year Mid-Career Program, intended for professionals more than seven years after college graduation. Among the members of the Mid-Career MPA class are the Mason Fellows, who are public and private executives from developing countries. Mason Fellows constitute about 50% of the incoming class of Mid Career MPA candidates.
The Mason cohort is the most diverse at Harvard in terms of nationalities and ethnicities represented, it is named after late Harvard Professor and Dean of the Graduate School of Public Administration, now known as the John F. Kennedy School of Government, from 1947 to 1958 Edward Sagendorph Mason who thought of bringing the developing world leaders to Harvard to stand on the cutting edge of development knowledge aiming for a better world. In addition to the master's programs, HKS administers four doctoral programs. PhD degrees are awarded in political economy and Government, Public Policy, social policy, in conjunction with the Departments of government and sociology in the Faculty of Arts and Sciences, as well as in health policy, in conjunction with FAS and the Harvard School of Public Health; the Harvard Kennedy School has a number of joint and concurrent degree programs, within Harvard and with other leadin
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