Sveriges Riksbank or the Riksbank, is the central bank of Sweden. It is the third oldest bank in operation; the first part of the word riksbank, stems from the Swedish word rike, which means realm, empire or nation in English. A literal English translation of the bank's name could thus be Sweden's realm's bank; the bank, doesn't translate its name to English but uses its Swedish name the Riksbank in its English communications. The Riksbank began operations in 1668. Sweden was served by the Stockholms Banco, founded by Johan Palmstruch in 1656. Although the bank was private, it was the king who chose its management: in a letter to Palmstruch, he gave permission to its operations according to stated regulations, but Stockholms Banco collapsed as a result of the issuing of too many notes without the necessary collateral. Palmstruch, considered responsible for the bank's losses, was condemned to death, but received clemency. On 17 September 1668, the privilege of Palmstruch to operate a bank was transferred to the Riksens Ständers Bank and was run under the auspices of the parliament of the day.
Due to the failure of Stockholm Banco, the new bank was managed under the direct control of the Riksdag of the Estates to prevent the interference from the king. When a new Riksdag was instituted in 1866, the name of the bank was changed to Sveriges Riksbank. Having learned the lesson of the Stockholms Banco experience, the Riksbank was not permitted to issue bank-notes. In 1701, permission was granted to issue so called credit-notes"; some time in the middle of the 18th century, counterfeit notes began appearing, which caused serious problems. To prevent forgeries, it was decided that the Riksbank should produce its own paper for bank-notes and a paper-mill, Tumba Bruk, was founded in Tumba, on the outskirts of Stockholm. A few years the first commercial banks were founded and these were allowed to issue bank-notes; the bank-notes represented a claim to the bank without interest paid, thus became a considerable source of income for banks. Nonetheless, security in the form of a deposit at the Riksbank was required to cover the value of all notes issued.
During the 19th century, the Riksbank maintained a dominant position as a credit institution and issuer of bank-notes. The bank managed national trade transactions as well as continuing to provide credit to the general public; the first branch-office was opened in 1824 followed with subsidiary branches opening in each county. The present operational activities as a central bank differ from those during the 19th century. For example, no interest-rate-related activities were conducted; the position of the Riksbank as a central bank dates back to 1897, when the first Riksbank Act was accepted concurrently with a law giving the Riksbank the exclusive right to issue bank-notes. This copyright concluded its role and importance regarding monetary policy in a modern sense, as the exclusive right to issue notes is a condition when conducting monetary policy and defending the value of a currency. Behind the decision were repeated demands that the private banks should cease to issue notes as it was considered that the ensuing profits should befall the general public.
The Swedish currency was backed by gold and the paper-certificates could be exchanged for gold coins until 1931, when a specialized temporary law freed the bank from this obligation. This law was renewed every year until the new constitution was ratified in 1975 which split the bank from the government into a stand-alone organization not obligated to exchange notes for gold. In November 1992, the fixed exchange rate regime of the Swedish Krona collapsed. A few months in January 1993, the Governing Board of the Riksbank developed a new monetary policy regime based on a floating exchange rate and an inflation target; these policies were extensively influenced by assistance from the Bank of Canada, which had extensive previous experience controlling inflation, while being a similar small open economy subject to foreign exchange rate swings. From 1991 to 1993, Sweden experienced its most severe recession since the 1930s termed the "Swedish banking rescue", it forced inflation down to around 2%, inflation continued to be low during the subsequent years of strong growth in the late 1990s.
During the 2000s, the operations and administrative departments were downsized on behalf of the policy departments Financial Stability Department and Monetary Policy Department. A direct consequence of the changing times was that the Riksbank closed down all its branches in Sweden and outsourced the handling of coins and bills to a private company. Today the policy departments are the core of the central bank and they employ about half of the bank's 350 full-time posts; the motto of the Bank is Hinc robur et securitas, Latin for "Herefore strength and safety". Following its third centennial in 1968, the bank instituted the annual Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, awarded with the Nobel Prizes at the Prize Award Ceremony in Stockholm, on 10 December, the anniversary of Alfred Nobel's death; the Riksbank has a reputation for innovation among central banks due to implementing policies such as: On 2 July 2009, Sweden's Riksbank was the first central bank in the world to implement a negative interest rate, when it lowered its repo rate to 0.25%.
This caused its linked overnight deposit rate to be pushed down to −0.25%
Sergels torg is the most central public square in Stockholm, named after 18th-century sculptor Johan Tobias Sergel, whose workshop was once located north of the square. Sergels torg has a dominant west-to-east axis and is divided into three distinct parts: A sunken pedestrian plaza furnished with a triangular-colored floor pattern and a wide flight of stairs leading up to the pedestrian street Drottninggatan, connecting south to Stockholm Old Town and north to Kungsgatan; this plaza is overbuilt by a roundabout centered on a glass obelisk and by the concrete decks of three major streets. North of this traffic junction is a smaller open space overlooked by the high-rise façade of the fifth Hötorget Building from where the avenue Sveavägen extends north; the site south of the square is taken up by the cultural centre Kulturhuset, which harbours the Stockholm City Theatre and hides the Bank of Sweden headquarters facing the square Brunkebergstorg behind. Klarabergsgatan leads west past the department store Åhléns City and Klara Church to Klarabergsviadukten and Kungsholmen.
Hamngatan leads east under Malmskillnadsgatan to Kungsträdgården and Strandvägen. Together with the underground mall east of the pedestrian plaza and the T-Centralen metro station and other continuous underpasses west thereof, Sergels torg forms part of a continuous underground structure a kilometre in length. Since its creation, Sergels torg has been much criticized for giving priority to cars at the cost of pedestrians, it has, among some quarters, become the main target for criticism of the much debated demolition of the central city district of Klara during the 1950s and 1960s. It is not dissimilar to but larger than the public space in front of Centre Georges Pompidou in Paris and much like its French counterpart remains the most popular space in Stockholm for meeting friends, for political demonstrations, for a wide range of events, for drug-dealers; this includes the fountain. Before the creation of Sergels torg, Brunkebergstorg was the most important public space in the area, the hub about which traffic revolved, the place where people would go to work and to find entertainment.
Albert Lilienberg was appointed city-planning superintendent in 1927, a year he produced the first proposal for a public square on the location in his general plan of 1928. In his proposal he envisioned a square whose north-south oriented axis would line-up with Sveavägen intended to be extended south across the square down to the waterfront with widened Hamngatan and Klarabergsgatan joining in from west and east. After this first proposal, the square is featured on every subsequent city plan produced for the area, with alternations in width and length. Notwithstanding the considerable number of revised proposals produced few were preoccupied by architectonic considerations, instead focusing on optimization of traffic flow. In the city plan Helldén produced in 1946, the square, still named Sveaplatsen, was conceived as similar to the present square, but still remained an unarticulated modernistic concept. In this proposal, the square was centred on a rectangular open space furnished with trees and ponds.
During the 1950s, continuously increasing traffic loads made separating pedestrians and car traffic desirable, several studies produced around 1955 focused on a lower level for pedestrians with cars on street-level with various openings to allow light down to the pedestrians. In 1957, a first official proposal presented a square similar to the present; the Chamber of Commerce was critical of the concept, concluding pedestrians on a lower level would produce poor business sites, an analysis which would prove correct. Their own proposal the following year, developed together with various authorities, reserved street-level to pedestrians while cars were confined below ground; this counter-proposal was however produced in only two months, which made it easy for opponents to pin-down its weaknesses. Helldén's proposal failed to impress the city as well, Helldén together with other hand-picked experts was therefore sent on a tour around Europe, including Coventry and London, to find a better solution.
In Stuttgart they could conclude that having pedestrians on a lower level required escalators, in Vienna the pedestrians hall Opernpassage gave them the inspiration to replace the central open space at Sveaplatsen with a round restaurant with glass walls, an aesthetic device intended to give the square an architectonic dignity. This newly introduced centre-piece resulted in a proposal for a fountain with a monument above it. For the shape of this fountain, Helldén consulted his friend, the mathematician and artist Piet Hein, who in less than in minute found a curve with a "continuously varying bending" and named it the superellipse. Before presenting his final proposal in 1960, Helldén added the triangular pattern to the pedestrian plaza and the wide stairs on its western side. A contest for the central monument in 1962 was won by Edvin Öhrström, with the 37 metre tall glass obelisk, named Kristall - vertikal accent i glas och stål; the sculpture completed in 1974 and since haunted by technical problems, never was a
Baroque Revival architecture
The Baroque Revival known as Neo-Baroque, was an architectural style of the late 19th century. The term is used to describe architecture which displays important aspects of Baroque style, but is not of the Baroque period proper—i.e. The 17th and 18th centuries. Elements of the Baroque architectural tradition were an essential part of the curriculum of the École des Beaux-Arts in Paris, the pre-eminent school of architecture in the second half of the 19th century, are integral to the Beaux-Arts architecture it engendered both in France and abroad. An ebullient sense of European imperialism encouraged an official architecture to reflect it in Britain and France, in Germany and Italy the Baroque revival expressed pride in the new power of the unified state. Akasaka Palace, Japan Alferaki Palace, Russia Ashton Memorial, England Belfast City Hall, Northern Ireland Beloselsky-Belozersky Palace, Saint Petersburg, Russia Bode Museum, Germany British Columbia Parliament Buildings, British Columbia, Canada Burgtheater, Austria Christiansborg Palace, Denmark Cluj-Napoca National Theatre, Cluj-Napoca, Romania Ortaköy Mosque, Turkey Dolmabahçe Palace, Turkey The Elms Mansion, Rhode Island, United States National Theatre, Norway Palais Garnier, France Rosecliff Mansion, Rhode Island, United States Royal Museum for Central Africa, Belgium Semperoper, Germany Sofia University rectorate, Bulgaria Zachęta National Gallery of Art, Poland St. Barbara's Church, New York, United States St. John Cantius Church, United States Church of St. Ignatius Loyola, New York City, United States Church of Saints Peter and Paul, Ireland Cathedral of Salta, Argentina Széchenyi thermal bath, Hungary Volkstheater, Austria National Art Gallery of Bulgaria, Bulgaria Wenckheim Palace, Hungary Stefánia Palace, Hungary Gran Teatro de La Habana, Cuba Old Parliament Building, Sri Lanka Altare della Patria, Italy House of the National Assembly of Serbia, Serbia.
Durban City Hall, South AfricaThere are number of post-modern buildings with a style that might be called "Baroque", for example the Dancing House in Prague by Vlado Milunić and Frank Gehry, who have described it as "new Baroque". Ferdinand Fellner and Hermann Helmer Arthur Meinig Sir Edwin Lutyens Members of the Armenian Balyan family Charles Garnier Baroque List of Baroque architecture Second Empire architecture Beaux-Arts architecture Edwardian Baroque architecture Wilhelminism James Stevens Curl. A Dictionary of Architecture and Landscape Architecture. 2000. — Encyclopedia.com. Accessed 3 Jan. 2010
Old Parliament House, Stockholm
The Old Parliament House, is the former seat of the Parliament of Sweden. It is located at Birger Jarls torg, in central Stockholm; the Old Parliament House was the seat of: the Riksdag of the Estates from 1833 to 1866 the bicameral Riksdag from 1866 to 1905. An additional section on the seaside was designed in 1911 by Aron Johansson, in the National Romantic style. History of the Riksdag House of the Estates Parliament House, Stockholm — housing the Swedish Parliament since 1910
A legislature is a deliberative assembly with the authority to make laws for a political entity such as a country or city. Legislatures form important parts of most governments. Laws enacted by legislatures are known as primary legislation. Legislatures observe and steer governing actions and have exclusive authority to amend the budget or budgets involved in the process; the members of a legislature are called legislators. In a democracy, legislators are most popularly elected, although indirect election and appointment by the executive are used for bicameral legislatures featuring an upper chamber. Names for national legislatures include "parliament", "congress", "diet", "assembly", depending on country; each chamber of the legislature consists of a number of legislators who use some form of parliamentary procedure to debate political issues and vote on proposed legislation. There must be a certain number of legislators present to carry out these activities; some of the responsibilities of a legislature, such as giving first consideration to newly proposed legislation, are delegated to committees made up of a few of the members of the chamber.
The members of a legislature represent different political parties. Legislatures vary in the amount of political power they wield, compared to other political players such as judiciaries and executives. In 2009, political scientists M. Steven Fish and Matthew Kroenig constructed a Parliamentary Powers Index in an attempt to quantify the different degrees of power among national legislatures; the German Bundestag, the Italian Parliament, the Mongolian State Great Khural tied for most powerful, while Myanmar's House of Representatives and Somalia's Transitional Federal Assembly tied for least powerful. Some political systems follow the principle of legislative supremacy, which holds that the legislature is the supreme branch of government and cannot be bound by other institutions, such as the judicial branch or a written constitution; such a system renders the legislature more powerful. In parliamentary and semi-presidential systems of government, the executive is responsible to the legislature, which may remove it with a vote of no confidence.
On the other hand, according to the separation of powers doctrine, the legislature in a presidential system is considered an independent and coequal branch of government along with both the judiciary and the executive. Legislatures will sometimes delegate their legislative power to administrative or executive agencies. Legislatures are made up of individual members, known as legislators. A legislature contains a fixed number of legislators. For example, a legislature that has 100 "seats" has 100 members. By extension, an electoral district that elects a single legislator can be described as a "seat", as, example, in the phrases "safe seat" and "marginal seat". A legislature may debate and vote upon bills as a single unit, or it may be composed of multiple separate assemblies, called by various names including legislative chambers, debate chambers, houses, which debate and vote separately and have distinct powers. A legislature which operates as a single unit is unicameral, one divided into two chambers is bicameral, one divided into three chambers is tricameral.
In bicameral legislatures, one chamber is considered the upper house, while the other is considered the lower house. The two types are not rigidly different, but members of upper houses tend to be indirectly elected or appointed rather than directly elected, tend to be allocated by administrative divisions rather than by population, tend to have longer terms than members of the lower house. In some systems parliamentary systems, the upper house has less power and tends to have a more advisory role, but in others presidential systems, the upper house has equal or greater power. In federations, the upper house represents the federation's component states; this is a case with the supranational legislature of the European Union. The upper house may either contain the delegates of state governments – as in the European Union and in Germany and, before 1913, in the United States – or be elected according to a formula that grants equal representation to states with smaller populations, as is the case in Australia and the United States since 1913.
Tricameral legislatures are rare. Tetracameral legislatures no longer exist, but they were used in Scandinavia. Legislatures vary in their size. Among national legislatures, China's National People's Congress is the largest with 2 980 members, while Vatican City's Pontifical Commission is the smallest with 7. Neither legislature is democratically elected: the National People's Congress is indirectly elected. Legislature size is a trade off between representation. Comparative analysis of national legislatures has found that size of a country's lower house tends to be proportional to the cube root of its population.
A bicameral legislature divides the legislators into two separate assemblies, chambers, or houses. Bicameralism is distinguished from unicameralism, in which all members deliberate and vote as a single group, from some legislatures that have three or more separate assemblies, chambers, or houses; as of 2015, fewer than half the world's national legislatures. The members of the two chambers are elected or selected by different methods, which vary from country to country; this can lead to the two chambers having different compositions of members. Enactment of primary legislation requires a concurrent majority – the approval of a majority of members in each of the chambers of the legislature; when this is the case, the legislature may be called an example of perfect bicameralism. However, in many Westminster system parliaments, the house to which the executive is responsible can overrule the other house and may be regarded as an example of imperfect bicameralism; some legislatures lie in between these two positions, with one house only able to overrule the other under certain circumstances.
The Founding Fathers of the United States favoured a bicameral legislature. The idea was to have the Senate be wiser. Benjamin Rush saw this though, noted that "this type of dominion is always connected with opulence"; the Senate was created to be a stabilising force, elected not by mass electors, but selected by the State legislators. Senators would be more knowledgeable and more deliberate—a sort of republican nobility—and a counter to what Madison saw as the "fickleness and passion" that could absorb the House, he noted further that "The use of the Senate is to consist in its proceeding with more coolness, with more system and with more wisdom, than the popular branch." Madison's argument led the Framers to grant the Senate prerogatives in foreign policy, an area where steadiness and caution were deemed important. State legislators chose the Senate, senators had to possess significant property to be deemed worthy and sensible enough for the position. In 1913, the 17th Amendment passed, which mandated choosing Senators by popular vote rather than State legislatures.
As part of the Great Compromise, the Founding Fathers invented a new rationale for bicameralism in which the Senate had states represented and the House had them represented by population. The British Parliament is referred to as the Mother of Parliaments because the British Parliament has been the model for most other parliamentary systems, its Acts have created many other parliaments. Many nations with parliaments have to some degree emulated the British "three-tier" model. Most countries in Europe and the Commonwealth have organised parliaments with a ceremonial head of state who formally opens and closes parliament, a large elected lower house, a smaller upper house. A formidable sinister interest may always obtain the complete command of a dominant assembly by some chance and for a moment, it is therefore of great use to have a second chamber of an opposite sort, differently composed, in which that interest in all likelihood will not rule. There have been a number of rationales put forward in favour of bicameralism, federal states have adopted it, the solution remains popular when regional differences or sensitivities require more explicit representation, with the second chamber representing the constituent states.
The older justification for second chambers—providing opportunities for second thoughts about legislation—has survived. Growing awareness of the complexity of the notion of representation and the multifunctional nature of modern legislatures may be affording incipient new rationales for second chambers, though these do remain contested institutions in ways that first chambers are not. An example of political controversy regarding a second chamber has been the debate over the powers of the Senate of Canada or the election of the Senate of France; the relationship between the two chambers varies. The first tends to be those with presidential governments; the latter tends to be the case in unitary states with parliamentary systems. There are two streams of thought: Critics believe bicameralism makes meaningful political reforms more difficult to achieve and increases the risk of gridlock—particularly in cases where both chambers have similar powers—while proponents argue the merits of the "checks and balances" provided by the bicameral model, which they believe help prevent the passage into law of ill-considered legislation.
Formal communication between houses is by various methods, including: Sending messages Formal notices, such as of resolutions or the passing of bills done in writing, via the clerk and speaker of each house Transmission of bills or amendment to bills requiring agreement from the other house Joint session a plenary session of both houses at the same time and place. Joint committees which may be formed by committees of each house agreeing to join, or by joint resolution of each house Conferences Conferences of the Houses of the English Parliament met in the Painted Chamber of the Palace of Westminster. There were a distinction between an "ordinary conference" and a "free conference". A "free conference" meets in private to resolve a dispute; the last fr
Right Livelihood Award
The Right Livelihood Award is an international award to "honour and support those offering practical and exemplary answers to the most urgent challenges facing us today." The prize was established in 1980 by German-Swedish philanthropist Jakob von Uexkull, is presented annually in early December. An international jury, invited by the five regular Right Livelihood Award board members, decides the awards in such fields as environmental protection, human rights, sustainable development, health and peace; the prize money is shared among the winners numbering four, is EUR 200,000. One of the four laureates receives an honorary award, which means that the other three share the prize money. Although it is promoted as an "Alternative Nobel Prize", it is not a Nobel prize, it does not have any organizational ties to the awarding institutions of the Nobel Prize or the Nobel Foundation. However, the Right Livelihood Award is sometimes popularly associated with the Nobel prizes; the establishment of the award followed a failed attempt to have the Nobel Foundation create new prizes in the areas of environmental protection, sustainable development and human rights.
The prize has been awarded to a diverse group of people and organisations, including Wangari Maathai, Astrid Lindgren, Bianca Jagger, Mordechai Vanunu, Leopold Kohr, Arna Mer-Khamis, Felicia Langer, Petra Kelly, Survival International, Amy Goodman and Edward Snowden. Since 1985, the ceremony has taken place in Stockholm's old Parliament building, in the days before the traditional Nobel prizes are awarded in the same city. A group of Swedish Parliamentarians from different parties host the ceremony. However, in 2014 when it became public that one of the recipients of the 2014 prize was whistleblower Edward Snowden, the ceremonial group was disinvited from the Ministry for Foreign Affairs building in Stockholm; some media refer to the prize as the Alternative Nobel Prize, the prize is understood as a critique of the traditional Nobel prizes. The prize differs from the Nobel Prizes: it is not a fulfillment of Alfred Nobel's bequest and thus not one of Nobel's own prizes, it is €200,000 compared to about €1,000,000 for a Nobel Prize.
The Nobel Memorial Prize in Economic Sciences is financed by the Sveriges Riksbank. Jakob von Uexküll, the philatelist, sold his company to create a prize, realizing one million US dollars which provided the initial funding of the award. Before establishing the award in 1980, von Uexkull had tried to interest the Nobel Foundation in new prizes to be awarded together with the Nobel Prizes, he suggested one for ecology and one for development. Like the Nobel Economics Prize, this would have been possible with an amendment to the Nobel Foundation statutes and funding of the prize amount separate from Nobel's fortune; the Nobel Prize amount was 880,000 Swedish kronor at that time, which corresponded to 195,000 US dollars. However, as a result of the debate that followed the establishment of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, the Nobel Foundation had decided not to associate the Nobel Prize with any additional awards, so von Uexküll's proposal was rejected.
Since 1980, the foundation has presented, awards to 153 Laureates from 64 countries. Its self-described purpose is to bestow prizes and thus publicize the work of recipients' local solutions to worldwide problems. Right livelihood List of prizes and awards Pathiravitana, S.. A Great Son of Lanka. Sri Lanka Daily News, 8 November 2007. A history of the award. Retrieved on 2008-06-03 from https://web.archive.org/web/20080110104454/http://www.dailynews.lk/2007/11/08/fea01.asp. Official website Right Livelihood Laureates Discuss Their Battles for Social Justice – video report by Democracy Now