the hatred of the spirit and in barbarity ; or europe will be reborn from the philosophical spirit as a result of a heroism of reason that will overcome naturalism. … europe ’ s greatest danger is weariness. let us as “ good europeans ” do battle with this danger of dangers with the sort of courage that does not shirk even the endless battle ”. he was right then. and today, europe seems a tired and aged continent. declining demography, under the heading of “ no children, no immigrants ” is historically a sign of a declining civilisation. in these grim years of crisis, our nations, ever more interdependent, have been bound mostly in a community of fear. we now need that european leaders return it into a community of hope. thank you for your attention. antonio fatas blog “ the uk makes the euro area look good ” may 8, 2014. nauro campos, f coricelli, l. moretti “ how much do countries benefit from membership in the european union? ” voxeu, 9 april 2014. edmund husserl “ philosophy and the crisis of european man ” in “ phenomenology and the crisis of philosophy ”, harper torchbooks, 1965, also available in www. users. cloud9. net / ~ bradmcc / husserl _ philcris. html. bis central bankers ’ speeches

g padmanabhan : is india ready for full capital account convertibility? address by mr g padmanabhan, executive director of the bank of india, at the msnm besant institute of pg management studies, mangalore, 16 may 2015. * * * inputs by my colleagues s / shri h s mohanty and anand prakash and review by a number other colleagues is gratefully acknowledged. residual errors, if any, are speaker ’ s own. esteemed members of the governing council of the msnm besant institute of pg management studies, banker friends, faculty and students of the institute, ladies and gentlemen, 1. thank you for inviting me to speak this evening. i am truly impressed by the rich tradition of this institution and congratulate all those associated with it for rendering yeomen service to the society. this part of the country has always boasted about the educational institutions and is home to some great bankers who have shaped the financial sector history of this country. i feel humbled standing before this august audience. 2. the topic i have chosen for discussion today is capital account convertibility. there is a buzz around this concept in recent weeks. some section of media has reported on the subject in recent weeks as this being next on the wish list of rbi governor ; whereas all he was doing was to answer a question posed by a student in an educational institution! today, i shall pose and endeavour to answer the question : is india ready for full capital account convertibility? as you are aware, the question of capital account convertibility has been a recurrent theme in the discourse on public policy both in the indian and the global arena for close to two decades with periodic spurts in the zeal and vigour in the debate followed by a lull or even regression on the credo. we, as i stated earlier, stand at a juncture when the debate has gathered some momentum again and the issue has been brought to the front burner with some apparent imminence in attaining the goal. standing as i do at the end of my long association with the external sector management, i shall try to take an objective and dispassionate view on the issue. i must make it clear upfront that what i say does not necessarily represent the views of the reserve bank of india. current account convertibility vs capital account convertibility 3. international trade by which we shall mean trade amongst nations in goods, services, and assets ( or in popular