* Emmanuel Farhi, Harvard University and NBER, and Jean Tirole, Toulouse School of Economics, "Deadly Embrace
: Sovereign and Financial Balance Sheets Doom Loops"
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LVG and goal hero Robin van Persie after last night's victory
It was then up to the public sector to rescue them in what has come to be known as the "deadly embrace
." The European Commission approved EUR 4.5 trillion in state aid to banks between October 2008 and October 2011, a sum which includes the value of taxpayer-funded recapitalizations and public guarantees on banking debts.
"The whole idea was to cut the deadly embrace
between bank and sovereign.
Closer examination will show that many of the felled trees have shallow roots undermined by flooding before being finished off in stormy weather, sometimes on account of the weight of the ivy wrapped around weakened or rotten boughs like a deadly embrace
Wrong Turn: America's Deadly Embrace
of Counterinsurgency, by Colonel Gian Gentile, The New Press, 208 pages, $24.9;
The fossilised remains of a Tyrannosaurus Rex and a Triceratops have been unearthed, still locked together in a deadly embrace
that has lasted 68 million years.
It is a deadly embrace
motivated by the oldest sin in the world: rebellion against authority--in this case, the authority of hearth and home and its superior claims of kinship and faith.
Suddenly, locked in their deadly embrace
, a stumble and they were gone, plummeting into the churning abyss far below.
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Both countries are now caught in a deadly embrace
. They can neither part ways completely, nor cooperate successfully without a risk of war at every turn.