Experience has shown that authorities tend to underestimate currency risk the longer the rate has been pegged the more likely are market players to think that it will remain so—the frequent public appearances by central bank governors to reassure increasingly nervous markets seem to be an inseparable part of this process.

Experience has shown that authorities tend to underestimate currency risk. tThe longer the rate has been pegged, the more likely it is thatare market players willto think that it will remain so, with central bank governors making— the frequent public appearances by central bank governors to reassure increasingly nervous markets—a seemingly to be an inseparable part of theis process.

Experience has shown that authorities tend to underestimate currency risk. The longer the rate has been pegged, the more likely it is that market players will think it will remain so, with central bank governors making frequent public appearances to reassure increasingly nervous markets—a seemingly inseparable part of the process.

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Original (academic analysis of collective security):

While the idea of collective security has an appeal for some, it is also criticized by others regarding its enforceability, usefulness und desirability. As a halfwayhouse between a world of sovereign nations and a world government, it is regarded as a more useful instrument than a balance of power system, yet less revolutionary than a world government.   Whereas for some critics collective security already goes too far, for others it does not go far enough. To pacifists it represents a challenge, as violence against an aggressor nation is not only tolerated, but it also constitutes an important part of the concept. Collective security is based – so the criticism – on a concept of negative peace which outlaws war, without paying enough regard to elements of positive peace such as the reduction of structural violence.

Suggested edits:

While the idea of collective security has an appeal for some, it is also criticized by others as regards regarding its enforceability, usefulness und desirability. As a way station halfwayhouse between a world of sovereign nations and a world government, it is regarded as a more useful instrument than a balance - of - power system, yet less revolutionary than a world government.   Whereas for some critics, collective security already goes too far, for others it does not go far enough. It is distasteful tTo pacifists it represents a challenge because it not only tolerates as violence against an aggressor nation, but regards such violence as is not only tolerated, but it also constitutes an important part of the concept. Collective security is based – — so the criticism goes – — on a concept of negative peace which outlaws war, withoutbut paysing little enough regard to elements of positive peace , such as the reduction of structural violence.

Clean edited version:

While the idea of collective security has appeal for some, it is criticized by others as regards enforceability, usefulness und desirability. As a way station between a world of sovereign nations and a world government, it is regarded as a more useful instrument than a balance-of-power system, yet less revolutionary than a world government. Whereas for some critics, collective security goes too far, for others it does not go far enough. It is distasteful to pacifists because it not only tolerates violence against an aggressor nation, but regards such violence as an important part of the concept. Collective security is based—so the criticism goes—on a concept of negative peace which outlaws war, but pays little regard to elements of positive peace, such as the reduction of structural violence.

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Original version (excerpt from children’s short story):

“Mom, how many nights till Tuesday?” asked Layli in a timid and curious voice.

“Let’s see... today is Friday.   So...there is Saturday, Sunday, Monday and then comes Tuesday.   Four more nights all together.”     Answered her mom very patiently.   “But, tell me what is so special about Tuesday night?”

“Nothing!” replied Layli while leaving the room quickly to avoid answering any further questions.

Layli was only four years old.   She was bright and very curious about the world around her.   She always asked questions and wanted to know more about new subjects.   So it was quite normal for her to want to know what day of the week it was.

The next day Layli asked the same question.   “Mom, how many nights till Tuesday?”   This time her mother got suspicious.   What was going on in Layli ‘s little head?   Was something bothering her?   What was to happen on Tuesday that she was not aware of?   And above all, why did Layli keep asking how many nights till Tuesday, and not how many days till Tuesday?

Layli ‘s mother was concerned.   She wished to help her little daughter.   “Layli dear, do you think you need to talk to us about what you have on your mind?   How about having a “family meeting”?

Layli thought for a moment and then agreed with her mother ‘s suggestion.

Now, this was a tradition they had in their family of five.   Whenever any of the children or their parents had a problem, a concern or wished to share something interesting with the family, he or she called for a “family meeting”.

Layli ‘s mother needed to act fast.   It was already Saturday and if something was going to happen on Tuesday, she needed to know it sooner than later.

A time was set for the meeting.   The family usually started their meeting with a prayer or two and then the member who had called the meting talked about what he or she had in mind.

Layli was in a way happy that she was getting help from her family.   It was nice to know that her family was ready and willing to come to the rescue when needed…

Suggested edits:

“Mommy, how many nights till Tuesday?” asked Layli in a timid, and curious voice.

“Let’s see... today is Friday, t.   hen So...there is Saturday, Sunday, Monday. After thatand then comes Tuesday.   Four more nights all together , . ” Aanswered her Mothermom very patiently. “But, what is so special about Tuesday night?”

“Nothing,!” replied Layli, while leaving the room quickly to avoid moreany further questions.

Layli was only four years old.   She was bright and very curious, about the world around her. She always askinged questions and wanting to know more about the world around hernew subjects. So, thought her Mother, it was normal for her to want to know what day of the week it was.

But tThe next day , Layli asked the same question.   “Mommy, how many nights till Tuesday?”   This time , her Mmother got suspicious.   What was going on in Layli’s little head? Was something bothering her?   What did she think was going to happen on Tuesday? that she was not aware of?   And above all, And why wasdid sheLayli keep asking how many nights till Tuesday, and not how many days till Tuesday?

Layli’s Mmother was concerned and. She wanted to help. her daughter.   “Layli dear, woulddo you likethink you need to talk to us about what isyou have on your mind? Would you like to How abouthaveing a family meeting?“

Layli thought for a moment and then agreed with her Mother’s suggestion.

Now, fFamily meetings were a tradition in their family. of five.  Whenever any of the three children or their parents had a problem, or simply wantedished to share something interesting, with the others, theythat member would call a “family meeting”. They would begin with a prayer or two, and then the one who had called the meeting would talkspeak about what theyhe or she wereas concerned about.

So, Layli thought for a moment, and agreed with her Mother’s suggestion.

Layli’s mother had to act fast.   It was already Saturday and if something was going to happen on Tuesday, she needed to know about it sooner than later.

A time was set for the meeting. In a way, SheLayli was happy her family would help her. It was so comforting that she was getting help from her family.   It was nice to know thatthey were all so ready and willing to come to the rescue…

Clean edited version:

“Mommy, how many nights till Tuesday?” asked Layli in a timid, curious voice.

“Let’s see... today is Friday, then Saturday, Sunday, and Monday. After that comes Tuesday.   Four more nights all together,” answered her Mother patiently. “But, what is so special about Tuesday night?”

“Nothing,” replied Layli, leaving the room quickly to avoid more questions.

Layli was only four.   She was bright and curious, always asking questions and wanting to know more about the world around her. So, thought her Mother, it was normal for her to want to know what day of the week it was.

But the next day, Layli asked the same question. “Mommy, how many nights till Tuesday?”   This time, her Mother got suspicious.   What was going on in Layli’s little head? Was something bothering her?   What did she think was going to happen on Tuesday? And why was she asking how many nights and not how many days ?

Layli’s Mother was concerned and wanted to help. “Layli dear, would you like to talk to us about what is on your mind? Would you like to have a family meeting?

Family meetings were a tradition in their family. Whenever any of the three children or their parents had a problem, or wanted to share something interesting, they would call a “family meeting”. They would begin with a prayer or two, and then the one who had called the meeting would talk about what they were concerned about.

So, Layli thought for a moment, and agreed with her Mother’s suggestion. She was happy her family would help her. It was so comforting to know they were all ready and willing to come to the rescue…

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