During the Burgfriedenspolitik, the SPD voted for debt securities that finance what?
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Burgfriedenspolitik Burgfriedenspolitik (] )—literally "castle peace politics" but more accurately a political policy of "party truce" — is a German term used for the political truce the Social Democratic Party of Germany and the other political parties agreed to during World War I. The trade unions refrained from striking, the SPD voted for war credits in the Reichstag and the parties agreed not to criticize the government and its war. There were several reasons for the "Burgfrieden" politics: the Social Democrats believed it was their patriotic duty to support the government in war; they were afraid of government repression should they protest against the war; they feared living under an autocratic Russian Czar more than the German constitutional monarchy and its Kaiser; and they hoped to achieve political reforms after the war, including the abrogation of the inequitable three-class voting system, by cooperating with the government.
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War bond War bonds are debt securities issued by a government to finance military operations and other expenditure in times of war.
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Copenhagen Stock Exchange The Copenhagen Stock Exchange or CSE (Danish: "Københavns Fondsbørs" ), since 2014 officially called Nasdaq Copenhagen, is an international marketplace for Danish securities, including shares, bonds, treasury bills and notes, and financial futures and options.
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Synthetic CDO A synthetic CDO (collateralized debt obligation) is a variation of a CDO that generally uses credit default swaps and other derivatives to obtain its investment goals. As such, it is a complex derivative financial security sometimes described as a bet on the performance of other mortgage (or other) products, rather than a real mortgage security. The value and payment stream of a synthetic CDO is derived not from cash assets, like mortgages or credit card payments — as in the case of a regular or "cash" CDO — but from premiums paying for credit default swap "insurance" on the possibility that some defined set of "reference" securities — based on cash assets — will default. The insurance-buying "counterparties" may own the "reference" securities and be managing the risk of their default, or may be speculators who've calculated that the securities will default.
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German Investment Corporation Deutsche Investitions- und Entwicklungsgesellschaft (DEG) translates into German Investment and Development Corporation. DEG is a subsidiary of KfW. It was founded in Cologne in September 1962 as a federally owned company. Its headquarters is located in Cologne. In 2012, DEG employed a staff of more than 473, both in Germany and abroad. DEG made financial commitments with a total of EUR 1.33 billion in 2012 and total assets were at EUR 4.6 billion. Profit for the financial year was EUR 129 million. Funds at own risk represented the largest part of the 2012 portfolio (98.6%), whereas the remaining 1.4% was accounted for by financings on behalf of the Federal Republic of Germany (trust business). Since its foundation, DEG has cofinanced almost 1,300 companies in more than 120 countries and committed a total of around EUR 7 billion.
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German federal election, 2005 Federal elections were held in Germany on 18 September 2005 to elect the members of the 16th Bundestag. This became necessary after a motion of confidence in Chancellor Gerhard Schröder failed on 1 July. Following the defeat of Schröder's Social Democratic Party (SPD) in a state election, Schröder asked his supporters to abstain from the Bundestag motion, knowing the motion would fail and thus triggering an early federal election.
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Bellevue Investments Bellevue Investments GmbH & Co. KGaA is a German holding company that controls numerous subsidiaries and investments domestically and abroad. The subsidiaries have different business models and are active in the fields of software, online services, entertainment and digital content, as well as real estate. The subsidiaries currently employ approximately 350 people.
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National Debt Act National Debt Act is a stock short title used in the United Kingdom for Acts of Parliament relating to the national debt.
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Treasury Note (19th century) A Treasury Note is a type of short term debt instrument issued by the United States prior to the creation of the Federal Reserve System in 1913. Without the alternatives offered by a federal paper money or a central bank, the U.S. government relied on these instruments for funding during periods of financial stress such as the War of 1812, the Panic of 1837, and the American Civil War. While the Treasury Notes, as issued, were neither legal tender nor representative money, some issues were used as money in lieu of an official federal paper money. However the motivation behind their issuance was always funding federal expenditures rather than the provision of a circulating medium. These notes typically were hand-signed, of large denomination (at least $50), of large dimension (bigger than private banknotes), bore interest, were payable to the order of the owner (whose name was written on the front of the note), and matured in no more than three years - though some issues lacked one or more of these properties. Often they were receivable at face value by the government in payment of taxes and for purchases of publicly owned land, and thus "might to some extent be regarded as paper money." On many issues the interest rate was chosen to make interest calculations particularly easy, paying either 1, 1½, or 2 cents per day on a $100 note.
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Finance Act 1997 The Finance Act 1997 is an Act of the Parliament of the United Kingdom enacting the 1997 United Kingdom Budget. The "Chancellor of the Exchequer" delivers the annual budget speech outlining changes in spending, tax, duty and other financial matters. The respective year's Finance Act is the mechanism to enact the changes. Levels of Excise Duties, Value Added Tax, Income Tax, Corporation Tax and Capital Gains Tax) are often modified.
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The Journal of Structured Finance The Journal of Structured Finance is a quarterly academic journal on structuring and investing in all types of structured finance, such as asset-backed securities, mortgage-backed securities, collateralized debt and loan obligations, and life settlements. The journal was originally established as "The Journal of Project Finance", then broadened its focus as "The Journal of Structured and Project Finance", before finally obtaining its current name in 2004. Topics of interest include structuring techniques, types of securitization, investment approaches, and sector research. The editor-in-chief is Henry A. Davis.
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Malaysia Debt Ventures Malaysia Debt Ventures Berhad ("MDV") is a Malaysian wholly owned company under the Minister of Finance Incorporated.
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Swiss Financial Market Supervisory Authority The Swiss Financial Market Supervisory Authority (FINMA) is the Swiss government body responsible for financial regulation. This includes the supervision of banks, insurance companies, stock exchanges and securities dealers, as well as other financial intermediaries in Switzerland.
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Austrian Federal Railways The Austrian Federal Railways (German: Österreichische Bundesbahnen or ÖBB, formerly the Bundesbahn Österreich or BBÖ) is the national railway system of Austria, and the administrator of Liechtenstein's railways. The ÖBB group is owned entirely by the Republic of Austria and is divided into several separate businesses that manage the infrastructure and operate passenger and freight services.
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Securum Securum was a Swedish state company founded in 1992 during the financial crisis in Sweden 1990–1994 for the purpose of taking on and unwinding bad debt from the partly state-owned Nordbanken bank. It followed a proposal made to the Swedish authorities by McKinsey & Co and based on better practices from the US banking crises of the 1980s (e.g., Savings & Loan, Resolution Trust Company and Mellon Bank). Many of the debts were owed by real-estate companies and it became a goal for Securum to stabilize the property market. The company was established when Anne Wibble was Finance Minister and Per Westerberg was Minister for Business and Industry in the Government of Carl Bildt.
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German Conservative Party The German Conservative Party (German: "Deutschkonservative Partei" , DKP) was a right-wing political party of the German Empire, founded in 1876. It largely represented the wealthy landowning elite Prussian Junkers. The party was a response to German unification, universal and equal franchise in national elections, and rapid industrialization. It changed from a diffuse party of broad ideology into an interest party in Bismarckian Germany. In the early 1870s, Bismarck formed his majority with the base in the National Liberal party, which emphasized free trade and anti-Catholicism. He broke with them in the late 1870s, by which time the Free Conservative Party and the German Conservative Party had brought together the landed Junkers in the East, and the rapidly growing industrial leadership in the major cities. They now became the main base of Bismarck's support, and successive chancellors down to 1918.
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Household debt Household debt is defined as the combined debt of all people in a household. It includes consumer debt and mortgage loans. A significant rise in the level of this debt coincides historically with many severe economic crises and was a cause of the U.S. and subsequent European economic crises of 2007–2012. Several economists have argued that lowering this debt is essential to economic recovery in the U.S. and selected Eurozone countries.
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Federal Ministry for the Treasury The Federal Ministry for the Treasury (German: "Bundesschatzministerium" ) was a ministry of the Federal Republic of Germany charged with overseeing the economic possessions of the Federal government.
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Adolf Hitler Fund of German Trade and Industry The Adolf Hitler Fund of German Trade and Industry (""Adolf-Hitler-Spende der deutschen Wirtschaft"") was a donation from the German employers' association and the ""Reichsverband"" of German industry, which was established on June 1, 1933, to support the NSDAP. It was named after the "Führer" of the NSDAP Adolf Hitler and was meant for the "national reconstruction" (""nationaler Wiederaufbau"").
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Canadian public debt The Canadian government debt, commonly called the "public debt" or the "national debt", is the amount of money owed by the Government of Canada to holders of Canadian Treasury security. In 2013, this number stood at CAD$1.2 trillion across federal and provincial governments. With the total GDP somewhere around CAD$1.8 trillion, Canada's overall debt/GDP ratio is around 66%. "Gross debt" is the national debt plus intragovernmental debt obligations or debt held by trust funds. Types of securities sold by the government include treasury bills, notes, bonds, Real Return Bonds, Canada Savings Bonds, and provincial government securities.
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European debt crisis contagion European debt crisis contagion refers to the possible spread of the ongoing European sovereign-debt crisis to other Eurozone countries. This could make it difficult or impossible for more countries to repay or re-finance their government debt without the assistance of third parties. By 2012 the debt crisis forced five out 17 Eurozone countries to seek help from other nations. Some believed that negative effects could spread further possibly forcing one or more countries into default.
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Private finance initiative The private finance initiative (PFI) is a way of creating "public–private partnerships" (PPPs) by funding public infrastructure projects with private capital. Developed initially by the governments of Australia and the United Kingdom, and used extensively there and in Spain, PFI and its variants have now been adopted in many countries as part of the wider programme of privatisation and financialisation, and presented as a means for increasing accountability and efficiency for public spending. PFI has also been used simply to place a great amount of debt "off-balance-sheet".