<?xml version='1.0' encoding='utf-8'?>
<alto xmlns="http://www.loc.gov/standards/alto/ns-v3#" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.loc.gov/standards/alto/ns-v3# http://www.loc.gov/standards/alto/v3/alto-3-1.xsd"><Description><MeasurementUnit>pixel</MeasurementUnit><sourceImageInformation><fileIdentifier>658186</fileIdentifier></sourceImageInformation></Description><Layout><Page WIDTH="984" PHYSICAL_IMG_NR="1" ID="p658169" HEIGHT="1472"><PrintSpace WIDTH="984" HPOS="0" VPOS="0" ID="ps658169" HEIGHT="1472"><TextBlock WIDTH="984" HPOS="0" VPOS="0" ID="tb658169" HEIGHT="1472"><TextLine HPOS="94" VPOS="127" ID="tl1-0" WIDTH="559" HEIGHT="31"><String HEIGHT="31" CONTENT="From" WIDTH="75" HPOS="94" VPOS="127" ID="st1-0"/><SP/><String HEIGHT="31" CONTENT="Financial" WIDTH="131" HPOS="178" VPOS="127" ID="st1-1"/><SP/><String HEIGHT="31" CONTENT="Crisis" WIDTH="79" HPOS="318" VPOS="127" ID="st1-2"/><SP/><String HEIGHT="31" CONTENT="to" WIDTH="32" HPOS="406" VPOS="127" ID="st1-3"/><SP/><String HEIGHT="31" CONTENT="Turning" WIDTH="112" HPOS="445" VPOS="127" ID="st1-4"/><SP/><String HEIGHT="31" CONTENT="Point" WIDTH="72" HPOS="566" VPOS="127" ID="st1-5"/><String HEIGHT="31" CONTENT="." WIDTH="15" HPOS="638" VPOS="127" ID="st1-6"/></TextLine><TextLine HPOS="94" VPOS="165" ID="tl1-1" WIDTH="757" HEIGHT="30"><String HEIGHT="30" CONTENT="How" WIDTH="67" HPOS="94" VPOS="165" ID="st1-7"/><SP/><String HEIGHT="30" CONTENT="the" WIDTH="50" HPOS="169" VPOS="165" ID="st1-8"/><SP/><String HEIGHT="30" CONTENT="US" WIDTH="39" HPOS="227" VPOS="165" ID="st1-9"/><String HEIGHT="30" CONTENT="»" WIDTH="17" HPOS="275" VPOS="165" ID="st1-10"/><String HEIGHT="30" CONTENT="Subprime" WIDTH="143" HPOS="292" VPOS="165" ID="st1-11"/><SP/><String HEIGHT="30" CONTENT="Crisis" WIDTH="82" HPOS="444" VPOS="165" ID="st1-12"/><String HEIGHT="30" CONTENT="«" WIDTH="14" HPOS="526" VPOS="165" ID="st1-13"/><SP/><String HEIGHT="30" CONTENT="Turned" WIDTH="102" HPOS="547" VPOS="165" ID="st1-14"/><SP/><String HEIGHT="30" CONTENT="into" WIDTH="60" HPOS="658" VPOS="165" ID="st1-15"/><SP/><String HEIGHT="30" CONTENT="a" WIDTH="17" HPOS="727" VPOS="165" ID="st1-16"/><SP/><String HEIGHT="30" CONTENT="World" WIDTH="83" HPOS="752" VPOS="165" ID="st1-17" SUBS_TYPE="HypPart1" SUBS_CONTENT="Worldwide"/><HYP CONTENT="-" WIDTH="16" HPOS="835" VPOS="165" HEIGHT="30"/></TextLine><TextLine HPOS="94" VPOS="202" ID="tl1-2" WIDTH="695" HEIGHT="31"><String HEIGHT="31" CONTENT="wide" WIDTH="73" HPOS="94" VPOS="202" ID="st1-18" SUBS_TYPE="HypPart2" SUBS_CONTENT="Worldwide"/><SP/><String HEIGHT="31" CONTENT="One" WIDTH="60" HPOS="175" VPOS="202" ID="st1-19"/><SP/><String HEIGHT="31" CONTENT="and" WIDTH="56" HPOS="243" VPOS="202" ID="st1-20"/><SP/><String HEIGHT="31" CONTENT="Will" WIDTH="57" HPOS="306" VPOS="202" ID="st1-21"/><SP/><String HEIGHT="31" CONTENT="Change" WIDTH="111" HPOS="371" VPOS="202" ID="st1-22"/><SP/><String HEIGHT="31" CONTENT="the" WIDTH="49" HPOS="491" VPOS="202" ID="st1-23"/><SP/><String HEIGHT="31" CONTENT="Global" WIDTH="97" HPOS="549" VPOS="202" ID="st1-24"/><SP/><String HEIGHT="31" CONTENT="Economy" WIDTH="134" HPOS="655" VPOS="202" ID="st1-25"/></TextLine><TextLine HPOS="173" VPOS="257" ID="tl1-3" WIDTH="178" HEIGHT="23"><String HEIGHT="23" CONTENT="JACQUES" WIDTH="102" HPOS="173" VPOS="257" ID="st1-26"/><SP/><String HEIGHT="23" CONTENT="SAPIR" WIDTH="68" HPOS="283" VPOS="257" ID="st1-27"/></TextLine><TextLine HPOS="92" VPOS="348" ID="tl1-4" WIDTH="30" HEIGHT="72"><String HEIGHT="72" CONTENT="T" WIDTH="30" HPOS="92" VPOS="348" ID="st1-28"/></TextLine><TextLine HPOS="124" VPOS="350" ID="tl1-5" WIDTH="444" HEIGHT="28"><String HEIGHT="28" CONTENT="he" WIDTH="26" HPOS="124" VPOS="350" ID="st1-29"/><SP/><String HEIGHT="28" CONTENT="current" WIDTH="81" HPOS="155" VPOS="350" ID="st1-30"/><SP/><String HEIGHT="28" CONTENT="financial" WIDTH="93" HPOS="241" VPOS="350" ID="st1-31"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="53" HPOS="340" VPOS="350" ID="st1-32"/><String HEIGHT="28" CONTENT="," WIDTH="9" HPOS="393" VPOS="350" ID="st1-33"/><SP/><String HEIGHT="28" CONTENT="progeny" WIDTH="92" HPOS="407" VPOS="350" ID="st1-34"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="504" VPOS="350" ID="st1-35"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="533" VPOS="350" ID="st1-36"/></TextLine><TextLine HPOS="573" VPOS="356" ID="tl1-6" WIDTH="29" HEIGHT="14"><String HEIGHT="14" CONTENT="us" WIDTH="29" HPOS="573" VPOS="356" ID="st1-37"/></TextLine><TextLine HPOS="607" VPOS="350" ID="tl1-7" WIDTH="282" HEIGHT="28"><String HEIGHT="28" CONTENT="mortgage" WIDTH="107" HPOS="607" VPOS="350" ID="st1-38"/><SP/><String HEIGHT="28" CONTENT="industry" WIDTH="87" HPOS="719" VPOS="350" ID="st1-39"/><String HEIGHT="28" CONTENT="," WIDTH="11" HPOS="806" VPOS="350" ID="st1-40"/><SP/><String HEIGHT="28" CONTENT="which" WIDTH="67" HPOS="822" VPOS="350" ID="st1-41"/></TextLine><TextLine HPOS="124" VPOS="381" ID="tl1-8" WIDTH="603" HEIGHT="29"><String HEIGHT="29" CONTENT="has" WIDTH="36" HPOS="124" VPOS="381" ID="st1-42"/><SP/><String HEIGHT="29" CONTENT="been" WIDTH="52" HPOS="165" VPOS="381" ID="st1-43"/><SP/><String HEIGHT="29" CONTENT="coming" WIDTH="84" HPOS="222" VPOS="381" ID="st1-44"/><SP/><String HEIGHT="29" CONTENT="upon" WIDTH="59" HPOS="311" VPOS="381" ID="st1-45"/><SP/><String HEIGHT="29" CONTENT="us" WIDTH="24" HPOS="375" VPOS="381" ID="st1-46"/><SP/><String HEIGHT="29" CONTENT="gradually" WIDTH="102" HPOS="404" VPOS="381" ID="st1-47"/><SP/><String HEIGHT="29" CONTENT="since" WIDTH="55" HPOS="511" VPOS="381" ID="st1-48"/><SP/><String HEIGHT="29" CONTENT="summer" WIDTH="90" HPOS="571" VPOS="381" ID="st1-49"/><SP/><String HEIGHT="29" CONTENT="2007" WIDTH="48" HPOS="666" VPOS="381" ID="st1-50"/><String HEIGHT="29" CONTENT="," WIDTH="13" HPOS="714" VPOS="381" ID="st1-51"/></TextLine><TextLine HPOS="727" VPOS="379" ID="tl1-9" WIDTH="6" HEIGHT="21"><String HEIGHT="21" CONTENT="1" WIDTH="6" HPOS="727" VPOS="379" ID="st1-52"/></TextLine><TextLine HPOS="739" VPOS="381" ID="tl1-10" WIDTH="150" HEIGHT="29"><String HEIGHT="29" CONTENT="went" WIDTH="55" HPOS="739" VPOS="381" ID="st1-53"/><SP/><String HEIGHT="29" CONTENT="through" WIDTH="90" HPOS="799" VPOS="381" ID="st1-54"/></TextLine><TextLine HPOS="94" VPOS="413" ID="tl1-11" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="a" WIDTH="12" HPOS="94" VPOS="413" ID="st1-55"/><SP/><String HEIGHT="29" CONTENT="new" WIDTH="46" HPOS="111" VPOS="413" ID="st1-56"/><SP/><String HEIGHT="29" CONTENT="phase" WIDTH="62" HPOS="163" VPOS="413" ID="st1-57"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="230" VPOS="413" ID="st1-58"/><SP/><String HEIGHT="29" CONTENT="acceleration" WIDTH="131" HPOS="258" VPOS="413" ID="st1-59"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="394" VPOS="413" ID="st1-60"/><SP/><String HEIGHT="29" CONTENT="development" WIDTH="145" HPOS="440" VPOS="413" ID="st1-61"/><SP/><String HEIGHT="29" CONTENT="in" WIDTH="22" HPOS="590" VPOS="413" ID="st1-62"/><SP/><String HEIGHT="29" CONTENT="early" WIDTH="53" HPOS="617" VPOS="413" ID="st1-63"/><SP/><String HEIGHT="29" CONTENT="fall" WIDTH="33" HPOS="675" VPOS="413" ID="st1-64"/><SP/><String HEIGHT="29" CONTENT="2008" WIDTH="49" HPOS="714" VPOS="413" ID="st1-65"/><String HEIGHT="29" CONTENT="." WIDTH="13" HPOS="763" VPOS="413" ID="st1-66"/><SP/><String HEIGHT="29" CONTENT="The" WIDTH="43" HPOS="781" VPOS="413" ID="st1-67"/><SP/><String HEIGHT="29" CONTENT="ensu" WIDTH="48" HPOS="830" VPOS="413" ID="st1-68" SUBS_TYPE="HypPart1" SUBS_CONTENT="ensuing"/><HYP CONTENT="-" WIDTH="11" HPOS="878" VPOS="413" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="445" ID="tl1-12" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="ing" WIDTH="36" HPOS="94" VPOS="445" ID="st1-69" SUBS_TYPE="HypPart2" SUBS_CONTENT="ensuing"/><SP/><String HEIGHT="29" CONTENT="stock" WIDTH="58" HPOS="135" VPOS="445" ID="st1-70"/><SP/><String HEIGHT="29" CONTENT="market" WIDTH="78" HPOS="198" VPOS="445" ID="st1-71"/><SP/><String HEIGHT="29" CONTENT="crashes" WIDTH="78" HPOS="281" VPOS="445" ID="st1-72"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="365" VPOS="445" ID="st1-73"/><SP/><String HEIGHT="29" CONTENT="bank" WIDTH="54" HPOS="411" VPOS="445" ID="st1-74"/><SP/><String HEIGHT="29" CONTENT="emergencies" WIDTH="136" HPOS="470" VPOS="445" ID="st1-75"/><SP/><String HEIGHT="29" CONTENT="have" WIDTH="50" HPOS="612" VPOS="445" ID="st1-76"/><SP/><String HEIGHT="29" CONTENT="been" WIDTH="52" HPOS="668" VPOS="445" ID="st1-77"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="726" VPOS="445" ID="st1-78"/><SP/><String HEIGHT="29" CONTENT="worst" WIDTH="63" HPOS="766" VPOS="445" ID="st1-79"/><SP/><String HEIGHT="29" CONTENT="since" WIDTH="54" HPOS="835" VPOS="445" ID="st1-80"/></TextLine><TextLine HPOS="94" VPOS="477" ID="tl1-13" WIDTH="57" HEIGHT="29"><String HEIGHT="29" CONTENT="1929" WIDTH="45" HPOS="94" VPOS="477" ID="st1-81"/><String HEIGHT="29" CONTENT="." WIDTH="12" HPOS="139" VPOS="477" ID="st1-82"/></TextLine><TextLine HPOS="129" VPOS="509" ID="tl1-14" WIDTH="760" HEIGHT="29"><String HEIGHT="29" CONTENT="This" WIDTH="49" HPOS="129" VPOS="509" ID="st1-83"/><SP/><String HEIGHT="29" CONTENT="crisis" WIDTH="55" HPOS="184" VPOS="509" ID="st1-84"/><SP/><String HEIGHT="29" CONTENT="has" WIDTH="36" HPOS="245" VPOS="509" ID="st1-85"/><SP/><String HEIGHT="29" CONTENT="been" WIDTH="53" HPOS="286" VPOS="509" ID="st1-86"/><SP/><String HEIGHT="29" CONTENT="labeled" WIDTH="78" HPOS="345" VPOS="509" ID="st1-87"/><String HEIGHT="29" CONTENT="»" WIDTH="10" HPOS="428" VPOS="509" ID="st1-88"/><String HEIGHT="29" CONTENT="financial" WIDTH="98" HPOS="438" VPOS="509" ID="st1-89"/><String HEIGHT="29" CONTENT="«" WIDTH="11" HPOS="536" VPOS="509" ID="st1-90"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="553" VPOS="509" ID="st1-91"/><SP/><String HEIGHT="29" CONTENT="there" WIDTH="57" HPOS="599" VPOS="509" ID="st1-92"/><SP/><String HEIGHT="29" CONTENT="is" WIDTH="17" HPOS="661" VPOS="509" ID="st1-93"/><SP/><String HEIGHT="29" CONTENT="some" WIDTH="59" HPOS="684" VPOS="509" ID="st1-94"/><SP/><String HEIGHT="29" CONTENT="truth" WIDTH="57" HPOS="748" VPOS="509" ID="st1-95"/><SP/><String HEIGHT="29" CONTENT="in" WIDTH="22" HPOS="811" VPOS="509" ID="st1-96"/><SP/><String HEIGHT="29" CONTENT="that" WIDTH="40" HPOS="838" VPOS="509" ID="st1-97"/><String HEIGHT="29" CONTENT="," WIDTH="11" HPOS="878" VPOS="509" ID="st1-98"/></TextLine><TextLine HPOS="94" VPOS="541" ID="tl1-15" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="as" WIDTH="22" HPOS="94" VPOS="541" ID="st1-99"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="125" VPOS="541" ID="st1-100"/><SP/><String HEIGHT="28" CONTENT="securitization" WIDTH="150" HPOS="170" VPOS="541" ID="st1-101"/><SP/><String HEIGHT="28" CONTENT="process" WIDTH="82" HPOS="330" VPOS="541" ID="st1-102"/><SP/><String HEIGHT="28" CONTENT="was" WIDTH="42" HPOS="421" VPOS="541" ID="st1-103"/><SP/><String HEIGHT="28" CONTENT="definitely" WIDTH="105" HPOS="472" VPOS="541" ID="st1-104"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="586" VPOS="541" ID="st1-105"/><SP/><String HEIGHT="28" CONTENT="key" WIDTH="38" HPOS="607" VPOS="541" ID="st1-106"/><SP/><String HEIGHT="28" CONTENT="factor" WIDTH="59" HPOS="655" VPOS="541" ID="st1-107"/><String HEIGHT="28" CONTENT="." WIDTH="10" HPOS="714" VPOS="541" ID="st1-108"/><SP/><String HEIGHT="28" CONTENT="However" WIDTH="97" HPOS="734" VPOS="541" ID="st1-109"/><String HEIGHT="28" CONTENT="," WIDTH="14" HPOS="831" VPOS="541" ID="st1-110"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="854" VPOS="541" ID="st1-111"/></TextLine><TextLine HPOS="94" VPOS="573" ID="tl1-16" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="roots" WIDTH="59" HPOS="94" VPOS="573" ID="st1-112"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="163" VPOS="573" ID="st1-113"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="36" HPOS="196" VPOS="573" ID="st1-114"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="56" HPOS="242" VPOS="573" ID="st1-115"/><SP/><String HEIGHT="28" CONTENT="are" WIDTH="34" HPOS="308" VPOS="573" ID="st1-116"/><SP/><String HEIGHT="28" CONTENT="far" WIDTH="30" HPOS="352" VPOS="573" ID="st1-117"/><SP/><String HEIGHT="28" CONTENT="from" WIDTH="56" HPOS="392" VPOS="573" ID="st1-118"/><SP/><String HEIGHT="28" CONTENT="being" WIDTH="63" HPOS="458" VPOS="573" ID="st1-119"/><SP/><String HEIGHT="28" CONTENT="purely" WIDTH="71" HPOS="532" VPOS="573" ID="st1-120"/><SP/><String HEIGHT="28" CONTENT="financial" WIDTH="92" HPOS="613" VPOS="573" ID="st1-121"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="705" VPOS="573" ID="st1-122"/><SP/><String HEIGHT="28" CONTENT="Rather" WIDTH="77" HPOS="726" VPOS="573" ID="st1-123"/><SP/><String HEIGHT="28" CONTENT="we" WIDTH="32" HPOS="813" VPOS="573" ID="st1-124"/><SP/><String HEIGHT="28" CONTENT="are" WIDTH="33" HPOS="856" VPOS="573" ID="st1-125"/></TextLine><TextLine HPOS="94" VPOS="605" ID="tl1-17" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="witnessing" WIDTH="118" HPOS="94" VPOS="605" ID="st1-126"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="221" VPOS="605" ID="st1-127"/><SP/><String HEIGHT="28" CONTENT="collapse" WIDTH="88" HPOS="264" VPOS="605" ID="st1-128"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="360" VPOS="605" ID="st1-129"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="392" VPOS="605" ID="st1-130"/><SP/><String HEIGHT="28" CONTENT="specific" WIDTH="82" HPOS="412" VPOS="605" ID="st1-131"/><SP/><String HEIGHT="28" CONTENT="model" WIDTH="71" HPOS="502" VPOS="605" ID="st1-132"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="581" VPOS="605" ID="st1-133"/><SP/><String HEIGHT="28" CONTENT="capitalism" WIDTH="107" HPOS="613" VPOS="605" ID="st1-134"/><String HEIGHT="28" CONTENT="," WIDTH="11" HPOS="720" VPOS="605" ID="st1-135"/><SP/><String HEIGHT="28" CONTENT="as" WIDTH="21" HPOS="740" VPOS="605" ID="st1-136"/><SP/><String HEIGHT="28" CONTENT="well" WIDTH="45" HPOS="770" VPOS="605" ID="st1-137"/><SP/><String HEIGHT="28" CONTENT="as" WIDTH="21" HPOS="824" VPOS="605" ID="st1-138"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="854" VPOS="605" ID="st1-139"/></TextLine><TextLine HPOS="94" VPOS="637" ID="tl1-18" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="breakdown" WIDTH="124" HPOS="94" VPOS="637" ID="st1-140"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="223" VPOS="637" ID="st1-141"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="251" VPOS="637" ID="st1-142"/><SP/><String HEIGHT="28" CONTENT="post" WIDTH="46" HPOS="292" VPOS="637" ID="st1-143"/><String HEIGHT="28" CONTENT="-" WIDTH="11" HPOS="338" VPOS="637" ID="st1-144"/><String HEIGHT="28" CONTENT="Bretton" WIDTH="82" HPOS="349" VPOS="637" ID="st1-145"/><SP/><String HEIGHT="28" CONTENT="Woods" WIDTH="78" HPOS="436" VPOS="637" ID="st1-146"/><SP/><String HEIGHT="28" CONTENT="international" WIDTH="142" HPOS="519" VPOS="637" ID="st1-147"/><SP/><String HEIGHT="28" CONTENT="monetary" WIDTH="105" HPOS="666" VPOS="637" ID="st1-148"/><SP/><String HEIGHT="28" CONTENT="order" WIDTH="54" HPOS="776" VPOS="637" ID="st1-149"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="830" VPOS="637" ID="st1-150"/><SP/><String HEIGHT="28" CONTENT="The" WIDTH="43" HPOS="846" VPOS="637" ID="st1-151"/></TextLine><TextLine HPOS="94" VPOS="669" ID="tl1-19" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="stakes" WIDTH="65" HPOS="94" VPOS="669" ID="st1-152"/><SP/><String HEIGHT="28" CONTENT="are" WIDTH="33" HPOS="166" VPOS="669" ID="st1-153"/><SP/><String HEIGHT="28" CONTENT="obviously" WIDTH="108" HPOS="206" VPOS="669" ID="st1-154"/><SP/><String HEIGHT="28" CONTENT="high" WIDTH="50" HPOS="321" VPOS="669" ID="st1-155"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="379" VPOS="669" ID="st1-156"/><SP/><String HEIGHT="28" CONTENT="this" WIDTH="40" HPOS="427" VPOS="669" ID="st1-157"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="55" HPOS="474" VPOS="669" ID="st1-158"/><SP/><String HEIGHT="28" CONTENT="will" WIDTH="40" HPOS="537" VPOS="669" ID="st1-159"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="585" VPOS="669" ID="st1-160"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="618" VPOS="669" ID="st1-161"/><SP/><String HEIGHT="28" CONTENT="major" WIDTH="65" HPOS="637" VPOS="669" ID="st1-162"/><SP/><String HEIGHT="28" CONTENT="turning" WIDTH="84" HPOS="709" VPOS="669" ID="st1-163"/><SP/><String HEIGHT="28" CONTENT="point" WIDTH="60" HPOS="800" VPOS="669" ID="st1-164"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="867" VPOS="669" ID="st1-165"/></TextLine><TextLine HPOS="94" VPOS="701" ID="tl1-20" WIDTH="263" HEIGHT="28"><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="94" VPOS="701" ID="st1-166"/><SP/><String HEIGHT="28" CONTENT="twenty" WIDTH="63" HPOS="136" VPOS="701" ID="st1-167"/><String HEIGHT="28" CONTENT="-" WIDTH="11" HPOS="199" VPOS="701" ID="st1-168"/><String HEIGHT="28" CONTENT="first" WIDTH="53" HPOS="210" VPOS="701" ID="st1-169"/><SP/><String HEIGHT="28" CONTENT="century" WIDTH="77" HPOS="269" VPOS="701" ID="st1-170"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="346" VPOS="701" ID="st1-171"/></TextLine><TextLine HPOS="94" VPOS="788" ID="tl1-21" WIDTH="306" HEIGHT="27"><String HEIGHT="27" CONTENT="The" WIDTH="46" HPOS="94" VPOS="788" ID="st1-172"/><SP/><String HEIGHT="27" CONTENT="Nature" WIDTH="89" HPOS="148" VPOS="788" ID="st1-173"/><SP/><String HEIGHT="27" CONTENT="of" WIDTH="27" HPOS="245" VPOS="788" ID="st1-174"/><SP/><String HEIGHT="27" CONTENT="the" WIDTH="43" HPOS="280" VPOS="788" ID="st1-175"/><SP/><String HEIGHT="27" CONTENT="Crisis" WIDTH="69" HPOS="331" VPOS="788" ID="st1-176"/></TextLine><TextLine HPOS="94" VPOS="844" ID="tl1-22" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="94" VPOS="844" ID="st1-177"/><SP/><String HEIGHT="28" CONTENT="current" WIDTH="80" HPOS="143" VPOS="844" ID="st1-178"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="55" HPOS="228" VPOS="844" ID="st1-179"/><SP/><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="288" VPOS="844" ID="st1-180"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="310" VPOS="844" ID="st1-181"/><SP/><String HEIGHT="28" CONTENT="fact" WIDTH="40" HPOS="337" VPOS="844" ID="st1-182"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="382" VPOS="844" ID="st1-183"/><SP/><String HEIGHT="28" CONTENT="three" WIDTH="53" HPOS="399" VPOS="844" ID="st1-184"/><String HEIGHT="28" CONTENT="-" WIDTH="11" HPOS="452" VPOS="844" ID="st1-185"/><String HEIGHT="28" CONTENT="tiered" WIDTH="64" HPOS="463" VPOS="844" ID="st1-186"/><SP/><String HEIGHT="28" CONTENT="process" WIDTH="81" HPOS="533" VPOS="844" ID="st1-187"/><SP/><String HEIGHT="28" CONTENT="embedded" WIDTH="116" HPOS="619" VPOS="844" ID="st1-188"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="740" VPOS="844" ID="st1-189"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="767" VPOS="844" ID="st1-190"/><SP/><String HEIGHT="28" CONTENT="particular" WIDTH="105" HPOS="784" VPOS="844" ID="st1-191"/></TextLine><TextLine HPOS="94" VPOS="876" ID="tl1-23" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="context" WIDTH="77" HPOS="94" VPOS="876" ID="st1-192"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="171" VPOS="876" ID="st1-193"/><SP/><String HEIGHT="28" CONTENT="We" WIDTH="36" HPOS="187" VPOS="876" ID="st1-194"/><SP/><String HEIGHT="28" CONTENT="witnessed" WIDTH="107" HPOS="229" VPOS="876" ID="st1-195"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="341" VPOS="876" ID="st1-196"/><SP/><String HEIGHT="28" CONTENT="spectacular" WIDTH="121" HPOS="358" VPOS="876" ID="st1-197"/><SP/><String HEIGHT="28" CONTENT="liquidity" WIDTH="92" HPOS="484" VPOS="876" ID="st1-198"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="55" HPOS="581" VPOS="876" ID="st1-199"/><SP/><String HEIGHT="28" CONTENT="between" WIDTH="92" HPOS="641" VPOS="876" ID="st1-200"/><SP/><String HEIGHT="28" CONTENT="September" WIDTH="119" HPOS="738" VPOS="876" ID="st1-201"/><SP/><String HEIGHT="28" CONTENT="20" WIDTH="27" HPOS="862" VPOS="876" ID="st1-202"/></TextLine><TextLine HPOS="94" VPOS="907" ID="tl1-24" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="94" VPOS="907" ID="st1-203"/><SP/><String HEIGHT="29" CONTENT="October" WIDTH="92" HPOS="141" VPOS="907" ID="st1-204"/><SP/><String HEIGHT="29" CONTENT="12" WIDTH="19" HPOS="239" VPOS="907" ID="st1-205"/><String HEIGHT="29" CONTENT="," WIDTH="10" HPOS="258" VPOS="907" ID="st1-206"/><SP/><String HEIGHT="29" CONTENT="2008" WIDTH="50" HPOS="274" VPOS="907" ID="st1-207"/><String HEIGHT="29" CONTENT="," WIDTH="13" HPOS="324" VPOS="907" ID="st1-208"/><SP/><String HEIGHT="29" CONTENT="which" WIDTH="67" HPOS="343" VPOS="907" ID="st1-209"/><SP/><String HEIGHT="29" CONTENT="was" WIDTH="41" HPOS="416" VPOS="907" ID="st1-210"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="12" HPOS="463" VPOS="907" ID="st1-211"/><SP/><String HEIGHT="29" CONTENT="textbook" WIDTH="99" HPOS="481" VPOS="907" ID="st1-212"/><SP/><String HEIGHT="29" CONTENT="case" WIDTH="44" HPOS="586" VPOS="907" ID="st1-213"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="22" HPOS="636" VPOS="907" ID="st1-214"/><SP/><String HEIGHT="29" CONTENT="what" WIDTH="55" HPOS="664" VPOS="907" ID="st1-215"/><SP/><String HEIGHT="29" CONTENT="Keynes" WIDTH="79" HPOS="725" VPOS="907" ID="st1-216"/><SP/><String HEIGHT="29" CONTENT="termed" WIDTH="79" HPOS="810" VPOS="907" ID="st1-217"/></TextLine><TextLine HPOS="94" VPOS="939" ID="tl1-25" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="94" VPOS="939" ID="st1-218"/><String HEIGHT="29" CONTENT="»" WIDTH="11" HPOS="135" VPOS="939" ID="st1-219"/><String HEIGHT="29" CONTENT="absolute" WIDTH="94" HPOS="146" VPOS="939" ID="st1-220"/><SP/><String HEIGHT="29" CONTENT="preference" WIDTH="115" HPOS="246" VPOS="939" ID="st1-221"/><SP/><String HEIGHT="29" CONTENT="for" WIDTH="32" HPOS="367" VPOS="939" ID="st1-222"/><SP/><String HEIGHT="29" CONTENT="liquidity" WIDTH="95" HPOS="405" VPOS="939" ID="st1-223"/><String HEIGHT="29" CONTENT="«" WIDTH="11" HPOS="500" VPOS="939" ID="st1-224"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="517" VPOS="939" ID="st1-225"/><SP/><String HEIGHT="29" CONTENT="motivated" WIDTH="112" HPOS="564" VPOS="939" ID="st1-226"/><SP/><String HEIGHT="29" CONTENT="massive" WIDTH="85" HPOS="682" VPOS="939" ID="st1-227"/><SP/><String HEIGHT="29" CONTENT="state" WIDTH="50" HPOS="773" VPOS="939" ID="st1-228"/><SP/><String HEIGHT="29" CONTENT="inter" WIDTH="50" HPOS="829" VPOS="939" ID="st1-229" SUBS_TYPE="HypPart1" SUBS_CONTENT="intervention"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="939" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="971" ID="tl1-26" WIDTH="92" HEIGHT="29"><String HEIGHT="29" CONTENT="vention" WIDTH="80" HPOS="94" VPOS="971" ID="st1-230" SUBS_TYPE="HypPart2" SUBS_CONTENT="intervention"/><String HEIGHT="29" CONTENT="." WIDTH="12" HPOS="174" VPOS="971" ID="st1-231"/></TextLine><TextLine HPOS="186" VPOS="969" ID="tl1-27" WIDTH="9" HEIGHT="21"><String HEIGHT="21" CONTENT="2" WIDTH="9" HPOS="186" VPOS="969" ID="st1-232"/></TextLine><TextLine HPOS="200" VPOS="971" ID="tl1-28" WIDTH="689" HEIGHT="29"><String HEIGHT="29" CONTENT="The" WIDTH="43" HPOS="200" VPOS="971" ID="st1-233"/><SP/><String HEIGHT="29" CONTENT="liquidity" WIDTH="93" HPOS="249" VPOS="971" ID="st1-234"/><SP/><String HEIGHT="29" CONTENT="crisis" WIDTH="55" HPOS="348" VPOS="971" ID="st1-235"/><SP/><String HEIGHT="29" CONTENT="was" WIDTH="41" HPOS="409" VPOS="971" ID="st1-236"/><SP/><String HEIGHT="29" CONTENT="generated" WIDTH="108" HPOS="456" VPOS="971" ID="st1-237"/><SP/><String HEIGHT="29" CONTENT="by" WIDTH="27" HPOS="570" VPOS="971" ID="st1-238"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="12" HPOS="602" VPOS="971" ID="st1-239"/><SP/><String HEIGHT="29" CONTENT="global" WIDTH="68" HPOS="620" VPOS="971" ID="st1-240"/><SP/><String HEIGHT="29" CONTENT="crisis" WIDTH="55" HPOS="694" VPOS="971" ID="st1-241"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="755" VPOS="971" ID="st1-242"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="783" VPOS="971" ID="st1-243"/><SP/><String HEIGHT="29" CONTENT="finan" WIDTH="55" HPOS="824" VPOS="971" ID="st1-244" SUBS_TYPE="HypPart1" SUBS_CONTENT="financial"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="971" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="1003" ID="tl1-29" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="cial" WIDTH="37" HPOS="94" VPOS="1003" ID="st1-245" SUBS_TYPE="HypPart2" SUBS_CONTENT="financial"/><SP/><String HEIGHT="29" CONTENT="system" WIDTH="75" HPOS="137" VPOS="1003" ID="st1-246"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="219" VPOS="1003" ID="st1-247"/><SP/><String HEIGHT="29" CONTENT="then" WIDTH="50" HPOS="266" VPOS="1003" ID="st1-248"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="11" HPOS="323" VPOS="1003" ID="st1-249"/><SP/><String HEIGHT="29" CONTENT="general" WIDTH="80" HPOS="341" VPOS="1003" ID="st1-250"/><SP/><String HEIGHT="29" CONTENT="uncertainty" WIDTH="125" HPOS="427" VPOS="1003" ID="st1-251"/><SP/><String HEIGHT="29" CONTENT="concerning" WIDTH="124" HPOS="558" VPOS="1003" ID="st1-252"/><SP/><String HEIGHT="29" CONTENT="sophisticated" WIDTH="144" HPOS="689" VPOS="1003" ID="st1-253"/><SP/><String HEIGHT="29" CONTENT="debt" WIDTH="49" HPOS="840" VPOS="1003" ID="st1-254"/></TextLine><TextLine HPOS="94" VPOS="1035" ID="tl1-30" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="instruments" WIDTH="132" HPOS="94" VPOS="1035" ID="st1-255"/><SP/><String HEIGHT="29" CONTENT="developed" WIDTH="113" HPOS="233" VPOS="1035" ID="st1-256"/><SP/><String HEIGHT="29" CONTENT="over" WIDTH="49" HPOS="353" VPOS="1035" ID="st1-257"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="409" VPOS="1035" ID="st1-258"/><SP/><String HEIGHT="29" CONTENT="last" WIDTH="37" HPOS="451" VPOS="1035" ID="st1-259"/><SP/><String HEIGHT="29" CONTENT="ten" WIDTH="35" HPOS="495" VPOS="1035" ID="st1-260"/><SP/><String HEIGHT="29" CONTENT="years" WIDTH="56" HPOS="537" VPOS="1035" ID="st1-261"/><SP/><String HEIGHT="29" CONTENT="through" WIDTH="91" HPOS="600" VPOS="1035" ID="st1-262"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="698" VPOS="1035" ID="st1-263"/><SP/><String HEIGHT="29" CONTENT="securitization" WIDTH="149" HPOS="740" VPOS="1035" ID="st1-264"/></TextLine><TextLine HPOS="94" VPOS="1067" ID="tl1-31" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="process" WIDTH="77" HPOS="94" VPOS="1067" ID="st1-265"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="171" VPOS="1067" ID="st1-266"/><SP/><String HEIGHT="28" CONTENT="But" WIDTH="41" HPOS="192" VPOS="1067" ID="st1-267"/><SP/><String HEIGHT="28" CONTENT="this" WIDTH="40" HPOS="242" VPOS="1067" ID="st1-268"/><SP/><String HEIGHT="28" CONTENT="global" WIDTH="68" HPOS="292" VPOS="1067" ID="st1-269"/><SP/><String HEIGHT="28" CONTENT="financial" WIDTH="93" HPOS="370" VPOS="1067" ID="st1-270"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="55" HPOS="472" VPOS="1067" ID="st1-271"/><SP/><String HEIGHT="28" CONTENT="has" WIDTH="36" HPOS="537" VPOS="1067" ID="st1-272"/><SP/><String HEIGHT="28" CONTENT="its" WIDTH="26" HPOS="582" VPOS="1067" ID="st1-273"/><SP/><String HEIGHT="28" CONTENT="roots" WIDTH="58" HPOS="617" VPOS="1067" ID="st1-274"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="684" VPOS="1067" ID="st1-275"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="36" HPOS="715" VPOS="1067" ID="st1-276"/><SP/><String HEIGHT="28" CONTENT="credit" WIDTH="63" HPOS="760" VPOS="1067" ID="st1-277"/><SP/><String HEIGHT="28" CONTENT="over" WIDTH="46" HPOS="832" VPOS="1067" ID="st1-278" SUBS_TYPE="HypPart1" SUBS_CONTENT="overextension"/><HYP CONTENT="-" WIDTH="11" HPOS="878" VPOS="1067" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="1099" ID="tl1-32" WIDTH="675" HEIGHT="28"><String HEIGHT="28" CONTENT="extension" WIDTH="105" HPOS="94" VPOS="1099" ID="st1-279" SUBS_TYPE="HypPart2" SUBS_CONTENT="overextension"/><SP/><String HEIGHT="28" CONTENT="which" WIDTH="67" HPOS="204" VPOS="1099" ID="st1-280"/><SP/><String HEIGHT="28" CONTENT="developed" WIDTH="113" HPOS="276" VPOS="1099" ID="st1-281"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="394" VPOS="1099" ID="st1-282"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="421" VPOS="1099" ID="st1-283"/><SP/><String HEIGHT="28" CONTENT="United" WIDTH="78" HPOS="461" VPOS="1099" ID="st1-284"/><SP/><String HEIGHT="28" CONTENT="States" WIDTH="65" HPOS="544" VPOS="1099" ID="st1-285"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="614" VPOS="1099" ID="st1-286"/><SP/><String HEIGHT="28" CONTENT="also" WIDTH="42" HPOS="660" VPOS="1099" ID="st1-287"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="707" VPOS="1099" ID="st1-288"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="734" VPOS="1099" ID="st1-289"/></TextLine><TextLine HPOS="774" VPOS="1105" ID="tl1-33" WIDTH="33" HEIGHT="15"><String HEIGHT="15" CONTENT="uk" WIDTH="33" HPOS="774" VPOS="1105" ID="st1-290"/></TextLine><TextLine HPOS="807" VPOS="1099" ID="tl1-34" WIDTH="82" HEIGHT="28"><String HEIGHT="28" CONTENT="," WIDTH="8" HPOS="807" VPOS="1099" ID="st1-291"/><SP/><String HEIGHT="28" CONTENT="Spain" WIDTH="57" HPOS="820" VPOS="1099" ID="st1-292"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="877" VPOS="1099" ID="st1-293"/></TextLine><TextLine HPOS="94" VPOS="1131" ID="tl1-35" WIDTH="134" HEIGHT="28"><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="94" VPOS="1131" ID="st1-294"/><SP/><String HEIGHT="28" CONTENT="Ireland" WIDTH="75" HPOS="142" VPOS="1131" ID="st1-295"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="217" VPOS="1131" ID="st1-296"/></TextLine><TextLine HPOS="94" VPOS="1178" ID="tl1-36" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="1" WIDTH="7" HPOS="94" VPOS="1178" ID="st1-297"/><String HEIGHT="24" CONTENT="." WIDTH="7" HPOS="101" VPOS="1178" ID="st1-298"/><SP/><String HEIGHT="24" CONTENT="For" WIDTH="33" HPOS="129" VPOS="1178" ID="st1-299"/><SP/><String HEIGHT="24" CONTENT="a" WIDTH="9" HPOS="167" VPOS="1178" ID="st1-300"/><SP/><String HEIGHT="24" CONTENT="specific" WIDTH="67" HPOS="181" VPOS="1178" ID="st1-301"/><SP/><String HEIGHT="24" CONTENT="analysis" WIDTH="67" HPOS="253" VPOS="1178" ID="st1-302"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="320" VPOS="1178" ID="st1-303"/><SP/><String HEIGHT="24" CONTENT="see" WIDTH="28" HPOS="333" VPOS="1178" ID="st1-304"/><SP/><String HEIGHT="24" CONTENT="Sapir" WIDTH="44" HPOS="365" VPOS="1178" ID="st1-305"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="409" VPOS="1178" ID="st1-306"/><SP/><String HEIGHT="24" CONTENT="J" WIDTH="6" HPOS="423" VPOS="1178" ID="st1-307"/><String HEIGHT="24" CONTENT="." WIDTH="7" HPOS="429" VPOS="1178" ID="st1-308"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="440" VPOS="1178" ID="st1-309"/><String HEIGHT="24" CONTENT="2008" WIDTH="40" HPOS="450" VPOS="1178" ID="st1-310"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="490" VPOS="1178" ID="st1-311"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="500" VPOS="1178" ID="st1-312"/><String HEIGHT="24" CONTENT="»" WIDTH="10" HPOS="515" VPOS="1178" ID="st1-313"/><String HEIGHT="24" CONTENT="Global" WIDTH="64" HPOS="525" VPOS="1178" ID="st1-314"/><SP/><String HEIGHT="24" CONTENT="Finance" WIDTH="73" HPOS="593" VPOS="1178" ID="st1-315"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="18" HPOS="670" VPOS="1178" ID="st1-316"/><SP/><String HEIGHT="24" CONTENT="Crisis," WIDTH="59" HPOS="692" VPOS="1178" ID="st1-317"/><String HEIGHT="24" CONTENT="«" WIDTH="9" HPOS="751" VPOS="1178" ID="st1-318"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="17" HPOS="764" VPOS="1178" ID="st1-319"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="781" VPOS="1178" ID="st1-320"/><SP/><String HEIGHT="23" CONTENT="Real" WIDTH="38" HPOS="794" VPOS="1179" ID="st1-321"/><String HEIGHT="23" CONTENT="-" WIDTH="9" HPOS="832" VPOS="1179" ID="st1-322"/><String HEIGHT="23" CONTENT="world" WIDTH="48" HPOS="841" VPOS="1179" ID="st1-323"/></TextLine><TextLine HPOS="129" VPOS="1207" ID="tl1-37" WIDTH="563" HEIGHT="23"><String HEIGHT="23" CONTENT="Economics" WIDTH="90" HPOS="129" VPOS="1207" ID="st1-324"/><SP/><String HEIGHT="23" CONTENT="Review" WIDTH="56" HPOS="229" VPOS="1207" ID="st1-325"/><String HEIGHT="23" CONTENT="," WIDTH="10" HPOS="285" VPOS="1207" ID="st1-326"/><SP/><String HEIGHT="24" CONTENT="46" WIDTH="24" HPOS="305" VPOS="1206" ID="st1-327"/><String HEIGHT="24" CONTENT="(" WIDTH="9" HPOS="339" VPOS="1206" ID="st1-328"/><String HEIGHT="24" CONTENT="18" WIDTH="18" HPOS="348" VPOS="1206" ID="st1-329"/><String HEIGHT="24" CONTENT=")" WIDTH="9" HPOS="366" VPOS="1206" ID="st1-330"/><String HEIGHT="24" CONTENT="(" WIDTH="11" HPOS="385" VPOS="1206" ID="st1-331"/><String HEIGHT="24" CONTENT="May" WIDTH="33" HPOS="396" VPOS="1206" ID="st1-332"/><String HEIGHT="24" CONTENT=")" WIDTH="11" HPOS="429" VPOS="1206" ID="st1-333"/><String HEIGHT="24" CONTENT="," WIDTH="11" HPOS="440" VPOS="1206" ID="st1-334"/><SP/><String HEIGHT="24" CONTENT="http" WIDTH="42" HPOS="460" VPOS="1206" ID="st1-335"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="502" VPOS="1206" ID="st1-336"/><String HEIGHT="24" CONTENT="//www" WIDTH="53" HPOS="512" VPOS="1206" ID="st1-337"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="565" VPOS="1206" ID="st1-338"/><String HEIGHT="24" CONTENT="paecon" WIDTH="63" HPOS="576" VPOS="1206" ID="st1-339"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="639" VPOS="1206" ID="st1-340"/><String HEIGHT="24" CONTENT="net" WIDTH="32" HPOS="650" VPOS="1206" ID="st1-341"/><String HEIGHT="24" CONTENT="/" WIDTH="7" HPOS="685" VPOS="1206" ID="st1-342"/></TextLine><TextLine HPOS="694" VPOS="1211" ID="tl1-38" WIDTH="49" HEIGHT="12"><String HEIGHT="12" CONTENT="paer" WIDTH="49" HPOS="694" VPOS="1211" ID="st1-343"/></TextLine><TextLine HPOS="743" VPOS="1206" ID="tl1-39" WIDTH="146" HEIGHT="24"><String HEIGHT="24" CONTENT="eview" WIDTH="54" HPOS="743" VPOS="1206" ID="st1-344"/><String HEIGHT="24" CONTENT="/" WIDTH="8" HPOS="799" VPOS="1206" ID="st1-345"/><SP/><String HEIGHT="24" CONTENT="issue46" WIDTH="70" HPOS="809" VPOS="1206" ID="st1-346"/><String HEIGHT="24" CONTENT="/" WIDTH="7" HPOS="882" VPOS="1206" ID="st1-347"/></TextLine><TextLine HPOS="129" VPOS="1234" ID="tl1-40" WIDTH="117" HEIGHT="23"><String HEIGHT="23" CONTENT="Sapir46" WIDTH="68" HPOS="129" VPOS="1234" ID="st1-348"/><String HEIGHT="23" CONTENT="." WIDTH="10" HPOS="197" VPOS="1234" ID="st1-349"/><String HEIGHT="23" CONTENT="pdf" WIDTH="29" HPOS="207" VPOS="1234" ID="st1-350"/><String HEIGHT="23" CONTENT="." WIDTH="10" HPOS="236" VPOS="1234" ID="st1-351"/></TextLine><TextLine HPOS="94" VPOS="1261" ID="tl1-41" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="2" WIDTH="8" HPOS="94" VPOS="1261" ID="st1-352"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="102" VPOS="1261" ID="st1-353"/><SP/><String HEIGHT="24" CONTENT="Sapir" WIDTH="45" HPOS="129" VPOS="1261" ID="st1-354"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="174" VPOS="1261" ID="st1-355"/><SP/><String HEIGHT="24" CONTENT="J" WIDTH="7" HPOS="188" VPOS="1261" ID="st1-356"/><String HEIGHT="24" CONTENT="." WIDTH="7" HPOS="195" VPOS="1261" ID="st1-357"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="207" VPOS="1261" ID="st1-358"/><String HEIGHT="24" CONTENT="2008" WIDTH="40" HPOS="217" VPOS="1261" ID="st1-359"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="257" VPOS="1261" ID="st1-360"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="267" VPOS="1261" ID="st1-361"/><String HEIGHT="24" CONTENT="»" WIDTH="12" HPOS="283" VPOS="1261" ID="st1-362"/><String HEIGHT="24" CONTENT="Une" WIDTH="39" HPOS="295" VPOS="1261" ID="st1-363"/><SP/><String HEIGHT="24" CONTENT="décade" WIDTH="63" HPOS="340" VPOS="1261" ID="st1-364"/><SP/><String HEIGHT="24" CONTENT="prodigieuse" WIDTH="106" HPOS="408" VPOS="1261" ID="st1-365"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="514" VPOS="1261" ID="st1-366"/><SP/><String HEIGHT="24" CONTENT="La" WIDTH="24" HPOS="529" VPOS="1261" ID="st1-367"/><SP/><String HEIGHT="24" CONTENT="crise" WIDTH="41" HPOS="559" VPOS="1261" ID="st1-368"/><SP/><String HEIGHT="24" CONTENT="financière" WIDTH="91" HPOS="606" VPOS="1261" ID="st1-369"/><SP/><String HEIGHT="24" CONTENT="entre" WIDTH="48" HPOS="702" VPOS="1261" ID="st1-370"/><SP/><String HEIGHT="24" CONTENT="temps" WIDTH="57" HPOS="755" VPOS="1261" ID="st1-371"/><SP/><String HEIGHT="24" CONTENT="court" WIDTH="50" HPOS="817" VPOS="1261" ID="st1-372"/><SP/><String HEIGHT="24" CONTENT="et" WIDTH="17" HPOS="872" VPOS="1261" ID="st1-373"/></TextLine><TextLine HPOS="129" VPOS="1289" ID="tl1-42" WIDTH="760" HEIGHT="24"><String HEIGHT="24" CONTENT="temps" WIDTH="57" HPOS="129" VPOS="1289" ID="st1-374"/><SP/><String HEIGHT="24" CONTENT="long," WIDTH="48" HPOS="193" VPOS="1289" ID="st1-375"/><String HEIGHT="24" CONTENT="«" WIDTH="10" HPOS="241" VPOS="1289" ID="st1-376"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="17" HPOS="258" VPOS="1289" ID="st1-377"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="275" VPOS="1289" ID="st1-378"/><SP/><String HEIGHT="23" CONTENT="Revue" WIDTH="52" HPOS="292" VPOS="1290" ID="st1-379"/><SP/><String HEIGHT="23" CONTENT="de" WIDTH="19" HPOS="352" VPOS="1290" ID="st1-380"/><SP/><String HEIGHT="23" CONTENT="la" WIDTH="17" HPOS="378" VPOS="1290" ID="st1-381"/><SP/><String HEIGHT="23" CONTENT="régulation" WIDTH="88" HPOS="402" VPOS="1290" ID="st1-382"/><String HEIGHT="23" CONTENT="," WIDTH="9" HPOS="490" VPOS="1290" ID="st1-383"/><SP/><String HEIGHT="24" CONTENT="3" WIDTH="9" HPOS="506" VPOS="1289" ID="st1-384"/><String HEIGHT="24" CONTENT="(" WIDTH="8" HPOS="523" VPOS="1289" ID="st1-385"/><String HEIGHT="24" CONTENT="2" WIDTH="8" HPOS="531" VPOS="1289" ID="st1-386"/><String HEIGHT="24" CONTENT=")" WIDTH="8" HPOS="539" VPOS="1289" ID="st1-387"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="547" VPOS="1289" ID="st1-388"/><SP/><String HEIGHT="24" CONTENT="http" WIDTH="37" HPOS="563" VPOS="1289" ID="st1-389"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="600" VPOS="1289" ID="st1-390"/><String HEIGHT="24" CONTENT="//regulation" WIDTH="112" HPOS="609" VPOS="1289" ID="st1-391"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="721" VPOS="1289" ID="st1-392"/><String HEIGHT="24" CONTENT="revues" WIDTH="56" HPOS="730" VPOS="1289" ID="st1-393"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="786" VPOS="1289" ID="st1-394"/><String HEIGHT="24" CONTENT="org" WIDTH="28" HPOS="796" VPOS="1289" ID="st1-395"/><String HEIGHT="24" CONTENT="/" WIDTH="7" HPOS="826" VPOS="1289" ID="st1-396"/><SP/><String HEIGHT="24" CONTENT="docu" WIDTH="44" HPOS="835" VPOS="1289" ID="st1-397" SUBS_TYPE="HypPart1" SUBS_CONTENT="document4032"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="1289" HEIGHT="24"/></TextLine><TextLine HPOS="129" VPOS="1317" ID="tl1-43" WIDTH="150" HEIGHT="24"><String HEIGHT="24" CONTENT="ment4032" WIDTH="85" HPOS="129" VPOS="1317" ID="st1-398" SUBS_TYPE="HypPart2" SUBS_CONTENT="document4032"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="214" VPOS="1317" ID="st1-399"/><String HEIGHT="24" CONTENT="html" WIDTH="43" HPOS="225" VPOS="1317" ID="st1-400"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="268" VPOS="1317" ID="st1-401"/></TextLine><TextLine HPOS="94" VPOS="1398" ID="tl1-44" WIDTH="30" HEIGHT="11"><String HEIGHT="11" CONTENT="ipg" WIDTH="30" HPOS="94" VPOS="1398" ID="st1-402"/></TextLine><TextLine HPOS="128" VPOS="1394" ID="tl1-45" WIDTH="56" HEIGHT="21"><String HEIGHT="21" CONTENT="1/2009" WIDTH="56" HPOS="128" VPOS="1394" ID="st1-403"/></TextLine><TextLine HPOS="692" VPOS="1395" ID="tl1-46" WIDTH="153" HEIGHT="18"><String HEIGHT="18" CONTENT="Sapir" WIDTH="33" HPOS="692" VPOS="1395" ID="st1-404"/><String HEIGHT="18" CONTENT="," WIDTH="7" HPOS="725" VPOS="1395" ID="st1-405"/><SP/><String HEIGHT="18" CONTENT="Financial" WIDTH="65" HPOS="736" VPOS="1395" ID="st1-406"/><SP/><String HEIGHT="18" CONTENT="Crisis" WIDTH="39" HPOS="806" VPOS="1395" ID="st1-407"/></TextLine><TextLine HPOS="865" VPOS="1388" ID="tl1-47" WIDTH="24" HEIGHT="29"><String HEIGHT="29" CONTENT="27" WIDTH="24" HPOS="865" VPOS="1388" ID="st1-408"/></TextLine></TextBlock></PrintSpace></Page><Page WIDTH="984" PHYSICAL_IMG_NR="2" ID="p658170" HEIGHT="1472"><PrintSpace WIDTH="984" HPOS="0" VPOS="0" ID="ps658170" HEIGHT="1472"><TextBlock WIDTH="984" HPOS="0" VPOS="0" ID="tb658170" HEIGHT="1472"><TextLine HPOS="129" VPOS="94" ID="tl2-0" WIDTH="760" HEIGHT="28"><String HEIGHT="28" CONTENT="This" WIDTH="49" HPOS="129" VPOS="94" ID="st2-0"/><SP/><String HEIGHT="28" CONTENT="credit" WIDTH="64" HPOS="186" VPOS="94" ID="st2-1"/><SP/><String HEIGHT="28" CONTENT="expansion" WIDTH="111" HPOS="258" VPOS="94" ID="st2-2"/><SP/><String HEIGHT="28" CONTENT="was" WIDTH="41" HPOS="377" VPOS="94" ID="st2-3"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="426" VPOS="94" ID="st2-4"/><SP/><String HEIGHT="28" CONTENT="result" WIDTH="61" HPOS="469" VPOS="94" ID="st2-5"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="538" VPOS="94" ID="st2-6"/><SP/><String HEIGHT="28" CONTENT="structural" WIDTH="105" HPOS="569" VPOS="94" ID="st2-7"/><SP/><String HEIGHT="28" CONTENT="changes" WIDTH="88" HPOS="682" VPOS="94" ID="st2-8"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="778" VPOS="94" ID="st2-9"/><SP/><String HEIGHT="28" CONTENT="income" WIDTH="81" HPOS="808" VPOS="94" ID="st2-10"/></TextLine><TextLine HPOS="94" VPOS="126" ID="tl2-1" WIDTH="577" HEIGHT="28"><String HEIGHT="28" CONTENT="redistribution" WIDTH="153" HPOS="94" VPOS="126" ID="st2-11"/><SP/><String HEIGHT="28" CONTENT="experienced" WIDTH="131" HPOS="252" VPOS="126" ID="st2-12"/><SP/><String HEIGHT="28" CONTENT="mostly" WIDTH="75" HPOS="388" VPOS="126" ID="st2-13"/><SP/><String HEIGHT="28" CONTENT="but" WIDTH="38" HPOS="468" VPOS="126" ID="st2-14"/><SP/><String HEIGHT="28" CONTENT="not" WIDTH="38" HPOS="512" VPOS="126" ID="st2-15"/><SP/><String HEIGHT="28" CONTENT="only" WIDTH="49" HPOS="555" VPOS="126" ID="st2-16"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="609" VPOS="126" ID="st2-17"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="636" VPOS="126" ID="st2-18"/></TextLine><TextLine HPOS="676" VPOS="132" ID="tl2-2" WIDTH="29" HEIGHT="14"><String HEIGHT="14" CONTENT="us" WIDTH="29" HPOS="676" VPOS="132" ID="st2-19"/></TextLine><TextLine HPOS="710" VPOS="126" ID="tl2-3" WIDTH="81" HEIGHT="28"><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="710" VPOS="126" ID="st2-20"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="756" VPOS="126" ID="st2-21"/></TextLine><TextLine HPOS="797" VPOS="132" ID="tl2-4" WIDTH="33" HEIGHT="14"><String HEIGHT="14" CONTENT="uk" WIDTH="33" HPOS="797" VPOS="132" ID="st2-22"/></TextLine><TextLine HPOS="835" VPOS="126" ID="tl2-5" WIDTH="54" HEIGHT="28"><String HEIGHT="28" CONTENT="since" WIDTH="54" HPOS="835" VPOS="126" ID="st2-23"/></TextLine><TextLine HPOS="94" VPOS="158" ID="tl2-6" WIDTH="678" HEIGHT="28"><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="94" VPOS="158" ID="st2-24"/><SP/><String HEIGHT="28" CONTENT="mid" WIDTH="36" HPOS="134" VPOS="158" ID="st2-25"/><String HEIGHT="28" CONTENT="-" WIDTH="12" HPOS="170" VPOS="158" ID="st2-26"/><String HEIGHT="28" CONTENT="1980s" WIDTH="60" HPOS="182" VPOS="158" ID="st2-27"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="242" VPOS="158" ID="st2-28"/><SP/><String HEIGHT="28" CONTENT="exemplars" WIDTH="111" HPOS="259" VPOS="158" ID="st2-29"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="375" VPOS="158" ID="st2-30"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="403" VPOS="158" ID="st2-31"/><String HEIGHT="28" CONTENT="»" WIDTH="11" HPOS="443" VPOS="158" ID="st2-32"/><String HEIGHT="28" CONTENT="neo" WIDTH="33" HPOS="454" VPOS="158" ID="st2-33"/><String HEIGHT="28" CONTENT="-" WIDTH="11" HPOS="487" VPOS="158" ID="st2-34"/><String HEIGHT="28" CONTENT="liberal" WIDTH="77" HPOS="498" VPOS="158" ID="st2-35"/><String HEIGHT="28" CONTENT="«" WIDTH="12" HPOS="575" VPOS="158" ID="st2-36"/><SP/><String HEIGHT="28" CONTENT="capitalist" WIDTH="97" HPOS="592" VPOS="158" ID="st2-37"/><SP/><String HEIGHT="28" CONTENT="model" WIDTH="65" HPOS="694" VPOS="158" ID="st2-38"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="759" VPOS="158" ID="st2-39"/></TextLine><TextLine HPOS="771" VPOS="156" ID="tl2-7" WIDTH="8" HEIGHT="20"><String HEIGHT="20" CONTENT="3" WIDTH="8" HPOS="771" VPOS="156" ID="st2-40"/></TextLine><TextLine HPOS="784" VPOS="158" ID="tl2-8" WIDTH="105" HEIGHT="28"><String HEIGHT="28" CONTENT="The" WIDTH="43" HPOS="784" VPOS="158" ID="st2-41"/><SP/><String HEIGHT="28" CONTENT="wage" WIDTH="57" HPOS="832" VPOS="158" ID="st2-42"/></TextLine><TextLine HPOS="94" VPOS="190" ID="tl2-9" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="share" WIDTH="57" HPOS="94" VPOS="190" ID="st2-43"/><SP/><String HEIGHT="28" CONTENT="has" WIDTH="36" HPOS="159" VPOS="190" ID="st2-44"/><SP/><String HEIGHT="28" CONTENT="declined" WIDTH="92" HPOS="202" VPOS="190" ID="st2-45"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="302" VPOS="190" ID="st2-46"/><SP/><String HEIGHT="28" CONTENT="corporate" WIDTH="106" HPOS="350" VPOS="190" ID="st2-47"/><SP/><String HEIGHT="28" CONTENT="profits" WIDTH="72" HPOS="464" VPOS="190" ID="st2-48"/><SP/><String HEIGHT="28" CONTENT="have" WIDTH="50" HPOS="544" VPOS="190" ID="st2-49"/><SP/><String HEIGHT="28" CONTENT="surged" WIDTH="74" HPOS="602" VPOS="190" ID="st2-50"/><SP/><String HEIGHT="28" CONTENT="as" WIDTH="22" HPOS="683" VPOS="190" ID="st2-51"/><SP/><String HEIGHT="28" CONTENT="inequality" WIDTH="109" HPOS="712" VPOS="190" ID="st2-52"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="22" HPOS="829" VPOS="190" ID="st2-53"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="20" HPOS="859" VPOS="190" ID="st2-54" SUBS_TYPE="HypPart1" SUBS_CONTENT="income"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="190" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="222" ID="tl2-10" WIDTH="267" HEIGHT="28"><String HEIGHT="28" CONTENT="come" WIDTH="60" HPOS="94" VPOS="222" ID="st2-55" SUBS_TYPE="HypPart2" SUBS_CONTENT="income"/><SP/><String HEIGHT="28" CONTENT="distribution" WIDTH="132" HPOS="160" VPOS="222" ID="st2-56"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="298" VPOS="222" ID="st2-57"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="326" VPOS="222" ID="st2-58"/></TextLine><TextLine HPOS="367" VPOS="228" ID="tl2-11" WIDTH="43" HEIGHT="14"><String HEIGHT="14" CONTENT="usa" WIDTH="43" HPOS="367" VPOS="228" ID="st2-59"/></TextLine><TextLine HPOS="416" VPOS="222" ID="tl2-12" WIDTH="473" HEIGHT="28"><String HEIGHT="28" CONTENT="has" WIDTH="36" HPOS="416" VPOS="222" ID="st2-60"/><SP/><String HEIGHT="28" CONTENT="reached" WIDTH="85" HPOS="458" VPOS="222" ID="st2-61"/><SP/><String HEIGHT="28" CONTENT="levels" WIDTH="60" HPOS="549" VPOS="222" ID="st2-62"/><SP/><String HEIGHT="28" CONTENT="not" WIDTH="39" HPOS="614" VPOS="222" ID="st2-63"/><SP/><String HEIGHT="28" CONTENT="seen" WIDTH="47" HPOS="659" VPOS="222" ID="st2-64"/><SP/><String HEIGHT="28" CONTENT="since" WIDTH="55" HPOS="712" VPOS="222" ID="st2-65"/><SP/><String HEIGHT="28" CONTENT="just" WIDTH="40" HPOS="773" VPOS="222" ID="st2-66"/><SP/><String HEIGHT="28" CONTENT="before" WIDTH="70" HPOS="819" VPOS="222" ID="st2-67"/></TextLine><TextLine HPOS="94" VPOS="254" ID="tl2-13" WIDTH="232" HEIGHT="28"><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="94" VPOS="254" ID="st2-68"/><SP/><String HEIGHT="28" CONTENT="1929" WIDTH="50" HPOS="136" VPOS="254" ID="st2-69"/><SP/><String HEIGHT="28" CONTENT="Depression" WIDTH="120" HPOS="193" VPOS="254" ID="st2-70"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="313" VPOS="254" ID="st2-71"/></TextLine><TextLine HPOS="326" VPOS="252" ID="tl2-14" WIDTH="10" HEIGHT="20"><String HEIGHT="20" CONTENT="4" WIDTH="10" HPOS="326" VPOS="252" ID="st2-72"/></TextLine><TextLine HPOS="343" VPOS="254" ID="tl2-15" WIDTH="546" HEIGHT="28"><String HEIGHT="28" CONTENT="While" WIDTH="67" HPOS="343" VPOS="254" ID="st2-73"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="417" VPOS="254" ID="st2-74"/><SP/><String HEIGHT="27" CONTENT="average" WIDTH="79" HPOS="459" VPOS="255" ID="st2-75"/><SP/><String HEIGHT="28" CONTENT="wage" WIDTH="56" HPOS="546" VPOS="254" ID="st2-76"/><SP/><String HEIGHT="28" CONTENT="increased" WIDTH="102" HPOS="610" VPOS="254" ID="st2-77"/><SP/><String HEIGHT="28" CONTENT="significantly" WIDTH="134" HPOS="719" VPOS="254" ID="st2-78"/><SP/><String HEIGHT="28" CONTENT="up" WIDTH="29" HPOS="860" VPOS="254" ID="st2-79"/></TextLine><TextLine HPOS="94" VPOS="286" ID="tl2-16" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="until" WIDTH="52" HPOS="94" VPOS="286" ID="st2-80"/><SP/><String HEIGHT="28" CONTENT="2006" WIDTH="51" HPOS="153" VPOS="286" ID="st2-81"/><String HEIGHT="28" CONTENT="," WIDTH="13" HPOS="204" VPOS="286" ID="st2-82"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="223" VPOS="286" ID="st2-83"/><SP/><String HEIGHT="27" CONTENT="median" WIDTH="78" HPOS="265" VPOS="287" ID="st2-84"/><SP/><String HEIGHT="28" CONTENT="wage" WIDTH="57" HPOS="350" VPOS="286" ID="st2-85"/><SP/><String HEIGHT="28" CONTENT="did" WIDTH="37" HPOS="413" VPOS="286" ID="st2-86"/><SP/><String HEIGHT="28" CONTENT="not" WIDTH="38" HPOS="456" VPOS="286" ID="st2-87"/><SP/><String HEIGHT="28" CONTENT="improve" WIDTH="93" HPOS="501" VPOS="286" ID="st2-88"/><SP/><String HEIGHT="28" CONTENT="at" WIDTH="21" HPOS="600" VPOS="286" ID="st2-89"/><SP/><String HEIGHT="28" CONTENT="all" WIDTH="25" HPOS="627" VPOS="286" ID="st2-90"/><String HEIGHT="28" CONTENT=";" WIDTH="9" HPOS="652" VPOS="286" ID="st2-91"/><SP/><String HEIGHT="28" CONTENT="it" WIDTH="16" HPOS="668" VPOS="286" ID="st2-92"/><SP/><String HEIGHT="28" CONTENT="even" WIDTH="51" HPOS="690" VPOS="286" ID="st2-93"/><SP/><String HEIGHT="28" CONTENT="fell" WIDTH="34" HPOS="747" VPOS="286" ID="st2-94"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="787" VPOS="286" ID="st2-95"/><SP/><String HEIGHT="28" CONTENT="several" WIDTH="73" HPOS="816" VPOS="286" ID="st2-96"/></TextLine><TextLine HPOS="94" VPOS="318" ID="tl2-17" WIDTH="163" HEIGHT="28"><String HEIGHT="28" CONTENT="»" WIDTH="11" HPOS="94" VPOS="318" ID="st2-97"/><String HEIGHT="28" CONTENT="old" WIDTH="35" HPOS="105" VPOS="318" ID="st2-98"/><String HEIGHT="28" CONTENT="-" WIDTH="12" HPOS="140" VPOS="318" ID="st2-99"/><String HEIGHT="28" CONTENT="industry" WIDTH="93" HPOS="152" VPOS="318" ID="st2-100"/><String HEIGHT="28" CONTENT="«" WIDTH="12" HPOS="245" VPOS="318" ID="st2-101"/></TextLine><TextLine HPOS="263" VPOS="324" ID="tl2-18" WIDTH="29" HEIGHT="14"><String HEIGHT="14" CONTENT="us" WIDTH="29" HPOS="263" VPOS="324" ID="st2-102"/></TextLine><TextLine HPOS="299" VPOS="318" ID="tl2-19" WIDTH="67" HEIGHT="28"><String HEIGHT="28" CONTENT="states" WIDTH="57" HPOS="299" VPOS="318" ID="st2-103"/><String HEIGHT="28" CONTENT="." WIDTH="10" HPOS="356" VPOS="318" ID="st2-104"/></TextLine><TextLine HPOS="366" VPOS="315" ID="tl2-20" WIDTH="6" HEIGHT="21"><String HEIGHT="21" CONTENT="5" WIDTH="6" HPOS="366" VPOS="315" ID="st2-105"/></TextLine><TextLine HPOS="129" VPOS="350" ID="tl2-21" WIDTH="760" HEIGHT="28"><String HEIGHT="28" CONTENT="This" WIDTH="50" HPOS="129" VPOS="350" ID="st2-106"/><SP/><String HEIGHT="28" CONTENT="would" WIDTH="72" HPOS="188" VPOS="350" ID="st2-107"/><SP/><String HEIGHT="28" CONTENT="have" WIDTH="51" HPOS="270" VPOS="350" ID="st2-108"/><SP/><String HEIGHT="28" CONTENT="led" WIDTH="33" HPOS="331" VPOS="350" ID="st2-109"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="24" HPOS="374" VPOS="350" ID="st2-110"/><SP/><String HEIGHT="28" CONTENT="economic" WIDTH="109" HPOS="407" VPOS="350" ID="st2-111"/><SP/><String HEIGHT="28" CONTENT="stagnation" WIDTH="117" HPOS="526" VPOS="350" ID="st2-112"/><SP/><String HEIGHT="28" CONTENT="with" WIDTH="51" HPOS="653" VPOS="350" ID="st2-113"/><SP/><String HEIGHT="28" CONTENT="constrained" WIDTH="130" HPOS="714" VPOS="350" ID="st2-114"/><SP/><String HEIGHT="28" CONTENT="de" WIDTH="24" HPOS="854" VPOS="350" ID="st2-115" SUBS_TYPE="HypPart1" SUBS_CONTENT="demand"/><HYP CONTENT="-" WIDTH="11" HPOS="878" VPOS="350" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="381" ID="tl2-22" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="mand" WIDTH="56" HPOS="94" VPOS="381" ID="st2-116" SUBS_TYPE="HypPart2" SUBS_CONTENT="demand"/><String HEIGHT="29" CONTENT="," WIDTH="15" HPOS="150" VPOS="381" ID="st2-117"/><SP/><String HEIGHT="29" CONTENT="if" WIDTH="16" HPOS="171" VPOS="381" ID="st2-118"/><SP/><String HEIGHT="29" CONTENT="it" WIDTH="17" HPOS="193" VPOS="381" ID="st2-119"/><SP/><String HEIGHT="29" CONTENT="had" WIDTH="41" HPOS="216" VPOS="381" ID="st2-120"/><SP/><String HEIGHT="29" CONTENT="not" WIDTH="38" HPOS="264" VPOS="381" ID="st2-121"/><SP/><String HEIGHT="29" CONTENT="been" WIDTH="52" HPOS="309" VPOS="381" ID="st2-122"/><SP/><String HEIGHT="29" CONTENT="for" WIDTH="33" HPOS="368" VPOS="381" ID="st2-123"/><SP/><String HEIGHT="29" CONTENT="credit" WIDTH="64" HPOS="407" VPOS="381" ID="st2-124"/><SP/><String HEIGHT="29" CONTENT="expansion" WIDTH="107" HPOS="477" VPOS="381" ID="st2-125"/><String HEIGHT="29" CONTENT="." WIDTH="12" HPOS="584" VPOS="381" ID="st2-126"/><SP/><String HEIGHT="29" CONTENT="It" WIDTH="19" HPOS="603" VPOS="381" ID="st2-127"/><SP/><String HEIGHT="29" CONTENT="can" WIDTH="37" HPOS="629" VPOS="381" ID="st2-128"/><SP/><String HEIGHT="29" CONTENT="therefore" WIDTH="101" HPOS="672" VPOS="381" ID="st2-129"/><SP/><String HEIGHT="29" CONTENT="be" WIDTH="26" HPOS="780" VPOS="381" ID="st2-130"/><SP/><String HEIGHT="29" CONTENT="argued" WIDTH="76" HPOS="813" VPOS="381" ID="st2-131"/></TextLine><TextLine HPOS="94" VPOS="413" ID="tl2-23" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="that" WIDTH="44" HPOS="94" VPOS="413" ID="st2-132"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="143" VPOS="413" ID="st2-133"/><SP/><String HEIGHT="29" CONTENT="financial" WIDTH="93" HPOS="184" VPOS="413" ID="st2-134"/><SP/><String HEIGHT="29" CONTENT="crisis" WIDTH="55" HPOS="283" VPOS="413" ID="st2-135"/><SP/><String HEIGHT="29" CONTENT="is" WIDTH="17" HPOS="344" VPOS="413" ID="st2-136"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="366" VPOS="413" ID="st2-137"/><SP/><String HEIGHT="29" CONTENT="result" WIDTH="62" HPOS="407" VPOS="413" ID="st2-138"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="474" VPOS="413" ID="st2-139"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="11" HPOS="503" VPOS="413" ID="st2-140"/><SP/><String HEIGHT="29" CONTENT="model" WIDTH="70" HPOS="520" VPOS="413" ID="st2-141"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="596" VPOS="413" ID="st2-142"/><SP/><String HEIGHT="29" CONTENT="capitalism" WIDTH="111" HPOS="624" VPOS="413" ID="st2-143"/><SP/><String HEIGHT="29" CONTENT="that" WIDTH="44" HPOS="741" VPOS="413" ID="st2-144"/><SP/><String HEIGHT="29" CONTENT="went" WIDTH="55" HPOS="790" VPOS="413" ID="st2-145"/><SP/><String HEIGHT="29" CONTENT="too" WIDTH="38" HPOS="851" VPOS="413" ID="st2-146"/></TextLine><TextLine HPOS="94" VPOS="445" ID="tl2-24" WIDTH="35" HEIGHT="29"><String HEIGHT="29" CONTENT="far" WIDTH="26" HPOS="94" VPOS="445" ID="st2-147"/><String HEIGHT="29" CONTENT="." WIDTH="9" HPOS="120" VPOS="445" ID="st2-148"/></TextLine><TextLine HPOS="94" VPOS="541" ID="tl2-25" WIDTH="249" HEIGHT="27"><String HEIGHT="27" CONTENT="The" WIDTH="46" HPOS="94" VPOS="541" ID="st2-149"/><SP/><String HEIGHT="27" CONTENT="Global" WIDTH="85" HPOS="148" VPOS="541" ID="st2-150"/><SP/><String HEIGHT="27" CONTENT="Context" WIDTH="103" HPOS="240" VPOS="541" ID="st2-151"/></TextLine><TextLine HPOS="94" VPOS="605" ID="tl2-26" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="94" VPOS="605" ID="st2-152"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="55" HPOS="143" VPOS="605" ID="st2-153"/><SP/><String HEIGHT="28" CONTENT="has" WIDTH="36" HPOS="204" VPOS="605" ID="st2-154"/><SP/><String HEIGHT="28" CONTENT="developed" WIDTH="113" HPOS="246" VPOS="605" ID="st2-155"/><SP/><String HEIGHT="28" CONTENT="–" WIDTH="13" HPOS="365" VPOS="605" ID="st2-156"/><SP/><String HEIGHT="28" CONTENT="on" WIDTH="29" HPOS="384" VPOS="605" ID="st2-157"/><SP/><String HEIGHT="28" CONTENT="three" WIDTH="57" HPOS="419" VPOS="605" ID="st2-158"/><SP/><String HEIGHT="28" CONTENT="different" WIDTH="95" HPOS="481" VPOS="605" ID="st2-159"/><SP/><String HEIGHT="28" CONTENT="levels" WIDTH="60" HPOS="582" VPOS="605" ID="st2-160"/><SP/><String HEIGHT="28" CONTENT="–" WIDTH="14" HPOS="647" VPOS="605" ID="st2-161"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="666" VPOS="605" ID="st2-162"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="694" VPOS="605" ID="st2-163"/><SP/><String HEIGHT="28" CONTENT="specific" WIDTH="81" HPOS="712" VPOS="605" ID="st2-164"/><SP/><String HEIGHT="28" CONTENT="context" WIDTH="79" HPOS="798" VPOS="605" ID="st2-165"/><String HEIGHT="28" CONTENT=":" WIDTH="12" HPOS="877" VPOS="605" ID="st2-166"/></TextLine><TextLine HPOS="94" VPOS="637" ID="tl2-27" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="94" VPOS="637" ID="st2-167"/><SP/><String HEIGHT="28" CONTENT="dismantling" WIDTH="131" HPOS="134" VPOS="637" ID="st2-168"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="270" VPOS="637" ID="st2-169"/><SP/><String HEIGHT="28" CONTENT="all" WIDTH="25" HPOS="298" VPOS="637" ID="st2-170"/><SP/><String HEIGHT="28" CONTENT="residual" WIDTH="86" HPOS="328" VPOS="637" ID="st2-171"/><SP/><String HEIGHT="28" CONTENT="Bretton" WIDTH="86" HPOS="419" VPOS="637" ID="st2-172"/><SP/><String HEIGHT="28" CONTENT="Woods" WIDTH="78" HPOS="509" VPOS="637" ID="st2-173"/><SP/><String HEIGHT="28" CONTENT="principles" WIDTH="104" HPOS="592" VPOS="637" ID="st2-174"/><String HEIGHT="28" CONTENT="," WIDTH="11" HPOS="696" VPOS="637" ID="st2-175"/><SP/><String HEIGHT="28" CONTENT="ending" WIDTH="76" HPOS="712" VPOS="637" ID="st2-176"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="793" VPOS="637" ID="st2-177"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="820" VPOS="637" ID="st2-178"/><SP/><String HEIGHT="28" CONTENT="mas" WIDTH="39" HPOS="837" VPOS="637" ID="st2-179" SUBS_TYPE="HypPart1" SUBS_CONTENT="massive"/><HYP CONTENT="-" WIDTH="13" HPOS="876" VPOS="637" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="669" ID="tl2-28" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="sive" WIDTH="41" HPOS="94" VPOS="669" ID="st2-180" SUBS_TYPE="HypPart2" SUBS_CONTENT="massive"/><SP/><String HEIGHT="28" CONTENT="international" WIDTH="142" HPOS="143" VPOS="669" ID="st2-181"/><SP/><String HEIGHT="28" CONTENT="monetary" WIDTH="106" HPOS="293" VPOS="669" ID="st2-182"/><String HEIGHT="28" CONTENT="»" WIDTH="11" HPOS="406" VPOS="669" ID="st2-183"/><String HEIGHT="28" CONTENT="non" WIDTH="36" HPOS="417" VPOS="669" ID="st2-184"/><String HEIGHT="28" CONTENT="-" WIDTH="12" HPOS="453" VPOS="669" ID="st2-185"/><String HEIGHT="28" CONTENT="order" WIDTH="60" HPOS="465" VPOS="669" ID="st2-186"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="525" VPOS="669" ID="st2-187"/><String HEIGHT="28" CONTENT="«" WIDTH="12" HPOS="537" VPOS="669" ID="st2-188"/><SP/><String HEIGHT="28" CONTENT="In" WIDTH="25" HPOS="557" VPOS="669" ID="st2-189"/><SP/><String HEIGHT="28" CONTENT="fact" WIDTH="36" HPOS="590" VPOS="669" ID="st2-190"/><String HEIGHT="28" CONTENT="," WIDTH="10" HPOS="626" VPOS="669" ID="st2-191"/><SP/><String HEIGHT="28" CONTENT="this" WIDTH="41" HPOS="644" VPOS="669" ID="st2-192"/><SP/><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="692" VPOS="669" ID="st2-193"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="717" VPOS="669" ID="st2-194"/><SP/><String HEIGHT="28" CONTENT="good" WIDTH="58" HPOS="736" VPOS="669" ID="st2-195"/><SP/><String HEIGHT="28" CONTENT="place" WIDTH="56" HPOS="802" VPOS="669" ID="st2-196"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="866" VPOS="669" ID="st2-197"/></TextLine><TextLine HPOS="94" VPOS="701" ID="tl2-29" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="start" WIDTH="48" HPOS="94" VPOS="701" ID="st2-198"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="149" VPOS="701" ID="st2-199"/><SP/><String HEIGHT="28" CONTENT="an" WIDTH="26" HPOS="178" VPOS="701" ID="st2-200"/><SP/><String HEIGHT="28" CONTENT="effort" WIDTH="61" HPOS="211" VPOS="701" ID="st2-201"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="24" HPOS="279" VPOS="701" ID="st2-202"/><SP/><String HEIGHT="28" CONTENT="better" WIDTH="66" HPOS="309" VPOS="701" ID="st2-203"/><SP/><String HEIGHT="28" CONTENT="understand" WIDTH="125" HPOS="381" VPOS="701" ID="st2-204"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="513" VPOS="701" ID="st2-205"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="55" HPOS="555" VPOS="701" ID="st2-206"/><String HEIGHT="28" CONTENT="(" WIDTH="10" HPOS="617" VPOS="701" ID="st2-207"/><String HEIGHT="28" CONTENT="see" WIDTH="33" HPOS="627" VPOS="701" ID="st2-208"/><SP/><String HEIGHT="28" CONTENT="Figure" WIDTH="73" HPOS="667" VPOS="701" ID="st2-209"/><SP/><String HEIGHT="28" CONTENT="1" WIDTH="8" HPOS="746" VPOS="701" ID="st2-210"/><String HEIGHT="28" CONTENT=")" WIDTH="9" HPOS="754" VPOS="701" ID="st2-211"/><String HEIGHT="28" CONTENT="." WIDTH="9" HPOS="763" VPOS="701" ID="st2-212"/><SP/><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="778" VPOS="701" ID="st2-213"/><SP/><String HEIGHT="28" CONTENT="mon" WIDTH="45" HPOS="829" VPOS="701" ID="st2-214" SUBS_TYPE="HypPart1" SUBS_CONTENT="monetary"/><HYP CONTENT="-" WIDTH="15" HPOS="874" VPOS="701" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="733" ID="tl2-30" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="etary" WIDTH="54" HPOS="94" VPOS="733" ID="st2-215" SUBS_TYPE="HypPart2" SUBS_CONTENT="monetary"/><SP/><String HEIGHT="28" CONTENT="non" WIDTH="35" HPOS="156" VPOS="733" ID="st2-216"/><String HEIGHT="28" CONTENT="-" WIDTH="12" HPOS="191" VPOS="733" ID="st2-217"/><String HEIGHT="28" CONTENT="order" WIDTH="60" HPOS="203" VPOS="733" ID="st2-218"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="263" VPOS="733" ID="st2-219"/><SP/><String HEIGHT="28" CONTENT="epitomized" WIDTH="125" HPOS="284" VPOS="733" ID="st2-220"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="27" HPOS="417" VPOS="733" ID="st2-221"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="453" VPOS="733" ID="st2-222"/><SP/><String HEIGHT="28" CONTENT="complete" WIDTH="102" HPOS="496" VPOS="733" ID="st2-223"/><SP/><String HEIGHT="28" CONTENT="freedom" WIDTH="92" HPOS="607" VPOS="733" ID="st2-224"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="708" VPOS="733" ID="st2-225"/><SP/><String HEIGHT="28" CONTENT="capital" WIDTH="72" HPOS="739" VPOS="733" ID="st2-226"/><SP/><String HEIGHT="28" CONTENT="move" WIDTH="56" HPOS="819" VPOS="733" ID="st2-227" SUBS_TYPE="HypPart1" SUBS_CONTENT="movement"/><HYP CONTENT="-" WIDTH="14" HPOS="875" VPOS="733" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="765" ID="tl2-31" WIDTH="99" HEIGHT="28"><String HEIGHT="28" CONTENT="ment" WIDTH="57" HPOS="94" VPOS="765" ID="st2-228" SUBS_TYPE="HypPart2" SUBS_CONTENT="movement"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="158" VPOS="765" ID="st2-229"/></TextLine><TextLine HPOS="199" VPOS="771" ID="tl2-32" WIDTH="29" HEIGHT="14"><String HEIGHT="14" CONTENT="us" WIDTH="29" HPOS="199" VPOS="771" ID="st2-230"/></TextLine><TextLine HPOS="235" VPOS="765" ID="tl2-33" WIDTH="654" HEIGHT="28"><String HEIGHT="28" CONTENT="government" WIDTH="135" HPOS="235" VPOS="765" ID="st2-231"/><SP/><String HEIGHT="28" CONTENT="pursued" WIDTH="90" HPOS="376" VPOS="765" ID="st2-232"/><SP/><String HEIGHT="28" CONTENT="for" WIDTH="33" HPOS="472" VPOS="765" ID="st2-233"/><SP/><String HEIGHT="28" CONTENT="decades" WIDTH="85" HPOS="511" VPOS="765" ID="st2-234"/><SP/><String HEIGHT="28" CONTENT="for" WIDTH="33" HPOS="602" VPOS="765" ID="st2-235"/><SP/><String HEIGHT="28" CONTENT="both" WIDTH="53" HPOS="641" VPOS="765" ID="st2-236"/><SP/><String HEIGHT="28" CONTENT="political" WIDTH="89" HPOS="700" VPOS="765" ID="st2-237"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="795" VPOS="765" ID="st2-238"/><SP/><String HEIGHT="28" CONTENT="eco" WIDTH="36" HPOS="842" VPOS="765" ID="st2-239" SUBS_TYPE="HypPart1" SUBS_CONTENT="economic"/><HYP CONTENT="-" WIDTH="11" HPOS="878" VPOS="765" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="797" ID="tl2-34" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="nomic" WIDTH="70" HPOS="94" VPOS="797" ID="st2-240" SUBS_TYPE="HypPart2" SUBS_CONTENT="economic"/><SP/><String HEIGHT="28" CONTENT="reasons" WIDTH="78" HPOS="170" VPOS="797" ID="st2-241"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="248" VPOS="797" ID="st2-242"/><SP/><String HEIGHT="28" CONTENT="led" WIDTH="33" HPOS="266" VPOS="797" ID="st2-243"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="306" VPOS="797" ID="st2-244"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="336" VPOS="797" ID="st2-245"/><SP/><String HEIGHT="28" CONTENT="1998" WIDTH="49" HPOS="377" VPOS="797" ID="st2-246"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="55" HPOS="433" VPOS="797" ID="st2-247"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="494" VPOS="797" ID="st2-248"/><SP/><String HEIGHT="28" CONTENT="emerging" WIDTH="105" HPOS="522" VPOS="797" ID="st2-249"/><SP/><String HEIGHT="28" CONTENT="countries" WIDTH="98" HPOS="634" VPOS="797" ID="st2-250"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="732" VPOS="797" ID="st2-251"/><SP/><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="749" VPOS="797" ID="st2-252"/><SP/><String HEIGHT="28" CONTENT="inability" WIDTH="90" HPOS="799" VPOS="797" ID="st2-253"/></TextLine><TextLine HPOS="94" VPOS="829" ID="tl2-35" WIDTH="519" HEIGHT="28"><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="94" VPOS="829" ID="st2-254"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="122" VPOS="829" ID="st2-255"/><SP/><String HEIGHT="28" CONTENT="surviving" WIDTH="101" HPOS="162" VPOS="829" ID="st2-256"/><SP/><String HEIGHT="28" CONTENT="Bretton" WIDTH="85" HPOS="268" VPOS="829" ID="st2-257"/><SP/><String HEIGHT="28" CONTENT="Woods" WIDTH="78" HPOS="357" VPOS="829" ID="st2-258"/><SP/><String HEIGHT="28" CONTENT="institutions" WIDTH="122" HPOS="440" VPOS="829" ID="st2-259"/><String HEIGHT="28" CONTENT="," WIDTH="11" HPOS="562" VPOS="829" ID="st2-260"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="578" VPOS="829" ID="st2-261"/></TextLine><TextLine HPOS="618" VPOS="835" ID="tl2-36" WIDTH="43" HEIGHT="14"><String HEIGHT="14" CONTENT="imf" WIDTH="43" HPOS="618" VPOS="835" ID="st2-262"/></TextLine><TextLine HPOS="666" VPOS="829" ID="tl2-37" WIDTH="223" HEIGHT="28"><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="666" VPOS="829" ID="st2-263"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="34" HPOS="712" VPOS="829" ID="st2-264"/><SP/><String HEIGHT="28" CONTENT="World" WIDTH="70" HPOS="751" VPOS="829" ID="st2-265"/><SP/><String HEIGHT="28" CONTENT="Bank" WIDTH="50" HPOS="826" VPOS="829" ID="st2-266"/><String HEIGHT="28" CONTENT="," WIDTH="13" HPOS="876" VPOS="829" ID="st2-267"/></TextLine><TextLine HPOS="94" VPOS="861" ID="tl2-38" WIDTH="362" HEIGHT="28"><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="94" VPOS="861" ID="st2-268"/><SP/><String HEIGHT="28" CONTENT="check" WIDTH="61" HPOS="122" VPOS="861" ID="st2-269"/><SP/><String HEIGHT="28" CONTENT="or" WIDTH="24" HPOS="188" VPOS="861" ID="st2-270"/><SP/><String HEIGHT="28" CONTENT="even" WIDTH="50" HPOS="217" VPOS="861" ID="st2-271"/><SP/><String HEIGHT="28" CONTENT="manage" WIDTH="85" HPOS="272" VPOS="861" ID="st2-272"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="362" VPOS="861" ID="st2-273"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="54" HPOS="402" VPOS="861" ID="st2-274"/></TextLine><TextLine HPOS="456" VPOS="858" ID="tl2-39" WIDTH="9" HEIGHT="21"><String HEIGHT="21" CONTENT="6" WIDTH="9" HPOS="456" VPOS="858" ID="st2-275"/></TextLine><TextLine HPOS="470" VPOS="861" ID="tl2-40" WIDTH="419" HEIGHT="28"><String HEIGHT="28" CONTENT="led" WIDTH="33" HPOS="470" VPOS="861" ID="st2-276"/><SP/><String HEIGHT="28" CONTENT="emerging" WIDTH="104" HPOS="508" VPOS="861" ID="st2-277"/><SP/><String HEIGHT="28" CONTENT="countries" WIDTH="97" HPOS="617" VPOS="861" ID="st2-278"/><String HEIGHT="28" CONTENT="," WIDTH="11" HPOS="714" VPOS="861" ID="st2-279"/><SP/><String HEIGHT="28" CONTENT="mostly" WIDTH="75" HPOS="730" VPOS="861" ID="st2-280"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="809" VPOS="861" ID="st2-281"/><SP/><String HEIGHT="28" CONTENT="Asia" WIDTH="42" HPOS="836" VPOS="861" ID="st2-282"/><String HEIGHT="28" CONTENT="," WIDTH="11" HPOS="878" VPOS="861" ID="st2-283"/></TextLine><TextLine HPOS="94" VPOS="893" ID="tl2-41" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="94" VPOS="893" ID="st2-284"/><SP/><String HEIGHT="28" CONTENT="feel" WIDTH="39" HPOS="126" VPOS="893" ID="st2-285"/><SP/><String HEIGHT="28" CONTENT="that" WIDTH="43" HPOS="174" VPOS="893" ID="st2-286"/><SP/><String HEIGHT="28" CONTENT="only" WIDTH="49" HPOS="226" VPOS="893" ID="st2-287"/><SP/><String HEIGHT="28" CONTENT="massive" WIDTH="85" HPOS="284" VPOS="893" ID="st2-288"/><SP/><String HEIGHT="28" CONTENT="foreign" WIDTH="80" HPOS="378" VPOS="893" ID="st2-289"/><SP/><String HEIGHT="28" CONTENT="currency" WIDTH="95" HPOS="467" VPOS="893" ID="st2-290"/><SP/><String HEIGHT="28" CONTENT="reserves" WIDTH="86" HPOS="571" VPOS="893" ID="st2-291"/><SP/><String HEIGHT="28" CONTENT="could" WIDTH="62" HPOS="666" VPOS="893" ID="st2-292"/><SP/><String HEIGHT="28" CONTENT="protect" WIDTH="79" HPOS="737" VPOS="893" ID="st2-293"/><SP/><String HEIGHT="28" CONTENT="them" WIDTH="51" HPOS="825" VPOS="893" ID="st2-294"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="876" VPOS="893" ID="st2-295"/></TextLine><TextLine HPOS="94" VPOS="925" ID="tl2-42" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="94" VPOS="925" ID="st2-296"/><SP/><String HEIGHT="28" CONTENT="logical" WIDTH="73" HPOS="143" VPOS="925" ID="st2-297"/><SP/><String HEIGHT="28" CONTENT="result" WIDTH="62" HPOS="221" VPOS="925" ID="st2-298"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="289" VPOS="925" ID="st2-299"/><SP/><String HEIGHT="28" CONTENT="this" WIDTH="38" HPOS="317" VPOS="925" ID="st2-300"/><String HEIGHT="28" CONTENT="," WIDTH="10" HPOS="355" VPOS="925" ID="st2-301"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="371" VPOS="925" ID="st2-302"/><SP/><String HEIGHT="28" CONTENT="turn" WIDTH="44" HPOS="398" VPOS="925" ID="st2-303"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="442" VPOS="925" ID="st2-304"/><SP/><String HEIGHT="28" CONTENT="was" WIDTH="42" HPOS="459" VPOS="925" ID="st2-305"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="506" VPOS="925" ID="st2-306"/><SP/><String HEIGHT="28" CONTENT="implementation" WIDTH="177" HPOS="547" VPOS="925" ID="st2-307"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="27" HPOS="730" VPOS="925" ID="st2-308"/><SP/><String HEIGHT="28" CONTENT="these" WIDTH="56" HPOS="763" VPOS="925" ID="st2-309"/><SP/><String HEIGHT="28" CONTENT="coun" WIDTH="52" HPOS="825" VPOS="925" ID="st2-310" SUBS_TYPE="HypPart1" SUBS_CONTENT="coun3"/><HYP CONTENT="-" WIDTH="12" HPOS="877" VPOS="925" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="978" ID="tl2-43" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="3" WIDTH="7" HPOS="94" VPOS="978" ID="st2-311" SUBS_TYPE="HypPart2" SUBS_CONTENT="coun3"/><String HEIGHT="24" CONTENT="." WIDTH="8" HPOS="101" VPOS="978" ID="st2-312"/><SP/><String HEIGHT="24" CONTENT="See" WIDTH="33" HPOS="129" VPOS="978" ID="st2-313"/><SP/><String HEIGHT="24" CONTENT="Irvin" WIDTH="44" HPOS="171" VPOS="978" ID="st2-314"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="215" VPOS="978" ID="st2-315"/><SP/><String HEIGHT="24" CONTENT="G" WIDTH="11" HPOS="233" VPOS="978" ID="st2-316"/><String HEIGHT="24" CONTENT="." WIDTH="12" HPOS="244" VPOS="978" ID="st2-317"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="265" VPOS="978" ID="st2-318"/><String HEIGHT="24" CONTENT="2007" WIDTH="41" HPOS="275" VPOS="978" ID="st2-319"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="316" VPOS="978" ID="st2-320"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="326" VPOS="978" ID="st2-321"/><String HEIGHT="24" CONTENT="»" WIDTH="12" HPOS="346" VPOS="978" ID="st2-322"/><String HEIGHT="24" CONTENT="Growing" WIDTH="85" HPOS="358" VPOS="978" ID="st2-323"/><SP/><String HEIGHT="24" CONTENT="Inequality" WIDTH="97" HPOS="452" VPOS="978" ID="st2-324"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="18" HPOS="558" VPOS="978" ID="st2-325"/><SP/><String HEIGHT="24" CONTENT="the" WIDTH="30" HPOS="585" VPOS="978" ID="st2-326"/><SP/><String HEIGHT="24" CONTENT="Neo" WIDTH="29" HPOS="624" VPOS="978" ID="st2-327"/><String HEIGHT="24" CONTENT="-" WIDTH="10" HPOS="653" VPOS="978" ID="st2-328"/><String HEIGHT="24" CONTENT="liberal" WIDTH="69" HPOS="663" VPOS="978" ID="st2-329"/><SP/><String HEIGHT="24" CONTENT="Heartland," WIDTH="102" HPOS="741" VPOS="978" ID="st2-330"/><String HEIGHT="24" CONTENT="«" WIDTH="11" HPOS="843" VPOS="978" ID="st2-331"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="17" HPOS="863" VPOS="978" ID="st2-332"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="880" VPOS="978" ID="st2-333"/></TextLine><TextLine HPOS="129" VPOS="1007" ID="tl2-44" WIDTH="760" HEIGHT="23"><String HEIGHT="23" CONTENT="Post" WIDTH="34" HPOS="129" VPOS="1007" ID="st2-334"/><String HEIGHT="23" CONTENT="-" WIDTH="9" HPOS="163" VPOS="1007" ID="st2-335"/><String HEIGHT="23" CONTENT="Autistic" WIDTH="69" HPOS="172" VPOS="1007" ID="st2-336"/><SP/><String HEIGHT="23" CONTENT="Economics" WIDTH="90" HPOS="254" VPOS="1007" ID="st2-337"/><SP/><String HEIGHT="23" CONTENT="Review" WIDTH="56" HPOS="356" VPOS="1007" ID="st2-338"/><String HEIGHT="23" CONTENT="," WIDTH="10" HPOS="412" VPOS="1007" ID="st2-339"/><SP/><String HEIGHT="24" CONTENT="43" WIDTH="23" HPOS="434" VPOS="1006" ID="st2-340"/><String HEIGHT="24" CONTENT="(" WIDTH="11" HPOS="468" VPOS="1006" ID="st2-341"/><String HEIGHT="24" CONTENT="September" WIDTH="101" HPOS="479" VPOS="1006" ID="st2-342"/><SP/><String HEIGHT="24" CONTENT="15" WIDTH="16" HPOS="592" VPOS="1006" ID="st2-343"/><String HEIGHT="24" CONTENT=")" WIDTH="8" HPOS="608" VPOS="1006" ID="st2-344"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="616" VPOS="1006" ID="st2-345"/><SP/><String HEIGHT="24" CONTENT="2–23" WIDTH="39" HPOS="636" VPOS="1006" ID="st2-346"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="675" VPOS="1006" ID="st2-347"/><SP/><String HEIGHT="24" CONTENT="http" WIDTH="42" HPOS="697" VPOS="1006" ID="st2-348"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="739" VPOS="1006" ID="st2-349"/><String HEIGHT="24" CONTENT="//www" WIDTH="53" HPOS="750" VPOS="1006" ID="st2-350"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="803" VPOS="1006" ID="st2-351"/><String HEIGHT="24" CONTENT="paecon" WIDTH="64" HPOS="814" VPOS="1006" ID="st2-352"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="878" VPOS="1006" ID="st2-353"/></TextLine><TextLine HPOS="129" VPOS="1034" ID="tl2-45" WIDTH="40" HEIGHT="23"><String HEIGHT="23" CONTENT="net" WIDTH="31" HPOS="129" VPOS="1034" ID="st2-354"/><String HEIGHT="23" CONTENT="/" WIDTH="7" HPOS="162" VPOS="1034" ID="st2-355"/></TextLine><TextLine HPOS="171" VPOS="1039" ID="tl2-46" WIDTH="49" HEIGHT="12"><String HEIGHT="12" CONTENT="paer" WIDTH="49" HPOS="171" VPOS="1039" ID="st2-356"/></TextLine><TextLine HPOS="220" VPOS="1034" ID="tl2-47" WIDTH="669" HEIGHT="23"><String HEIGHT="23" CONTENT="eview" WIDTH="54" HPOS="220" VPOS="1034" ID="st2-357"/><String HEIGHT="23" CONTENT="/" WIDTH="8" HPOS="276" VPOS="1034" ID="st2-358"/><SP/><String HEIGHT="23" CONTENT="issue43" WIDTH="68" HPOS="286" VPOS="1034" ID="st2-359"/><String HEIGHT="23" CONTENT="/" WIDTH="7" HPOS="356" VPOS="1034" ID="st2-360"/><SP/><String HEIGHT="23" CONTENT="Irwin43" WIDTH="74" HPOS="365" VPOS="1034" ID="st2-361"/><String HEIGHT="23" CONTENT="." WIDTH="11" HPOS="439" VPOS="1034" ID="st2-362"/><String HEIGHT="23" CONTENT="htm" WIDTH="32" HPOS="450" VPOS="1034" ID="st2-363"/><String HEIGHT="23" CONTENT=";" WIDTH="11" HPOS="482" VPOS="1034" ID="st2-364"/><SP/><String HEIGHT="23" CONTENT="M" WIDTH="14" HPOS="503" VPOS="1034" ID="st2-365"/><String HEIGHT="23" CONTENT="." WIDTH="14" HPOS="517" VPOS="1034" ID="st2-366"/><SP/><String HEIGHT="23" CONTENT="Brewer" WIDTH="62" HPOS="540" VPOS="1034" ID="st2-367"/><String HEIGHT="23" CONTENT="," WIDTH="11" HPOS="602" VPOS="1034" ID="st2-368"/><SP/><String HEIGHT="23" CONTENT="A" WIDTH="11" HPOS="622" VPOS="1034" ID="st2-369"/><String HEIGHT="23" CONTENT="." WIDTH="11" HPOS="633" VPOS="1034" ID="st2-370"/><SP/><String HEIGHT="23" CONTENT="Goodman" WIDTH="90" HPOS="653" VPOS="1034" ID="st2-371"/><String HEIGHT="23" CONTENT="," WIDTH="13" HPOS="743" VPOS="1034" ID="st2-372"/><SP/><String HEIGHT="23" CONTENT="J" WIDTH="7" HPOS="765" VPOS="1034" ID="st2-373"/><String HEIGHT="23" CONTENT="." WIDTH="7" HPOS="772" VPOS="1034" ID="st2-374"/><SP/><String HEIGHT="23" CONTENT="Shaw" WIDTH="45" HPOS="788" VPOS="1034" ID="st2-375"/><String HEIGHT="23" CONTENT="," WIDTH="12" HPOS="833" VPOS="1034" ID="st2-376"/><SP/><String HEIGHT="23" CONTENT="and" WIDTH="35" HPOS="854" VPOS="1034" ID="st2-377"/></TextLine><TextLine HPOS="129" VPOS="1061" ID="tl2-48" WIDTH="760" HEIGHT="24"><String HEIGHT="24" CONTENT="L" WIDTH="10" HPOS="129" VPOS="1061" ID="st2-378"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="139" VPOS="1061" ID="st2-379"/><SP/><String HEIGHT="24" CONTENT="Sibieta" WIDTH="64" HPOS="154" VPOS="1061" ID="st2-380"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="222" VPOS="1061" ID="st2-381"/><String HEIGHT="24" CONTENT="2006" WIDTH="42" HPOS="232" VPOS="1061" ID="st2-382"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="274" VPOS="1061" ID="st2-383"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="284" VPOS="1061" ID="st2-384"/><SP/><String HEIGHT="22" CONTENT="Poverty" WIDTH="63" HPOS="299" VPOS="1063" ID="st2-385"/><SP/><String HEIGHT="22" CONTENT="and" WIDTH="34" HPOS="367" VPOS="1063" ID="st2-386"/><SP/><String HEIGHT="22" CONTENT="Inequality" WIDTH="90" HPOS="406" VPOS="1063" ID="st2-387"/><SP/><String HEIGHT="22" CONTENT="in" WIDTH="19" HPOS="501" VPOS="1063" ID="st2-388"/><SP/><String HEIGHT="22" CONTENT="Britain" WIDTH="64" HPOS="524" VPOS="1063" ID="st2-389"/><String HEIGHT="22" CONTENT=":" WIDTH="10" HPOS="588" VPOS="1063" ID="st2-390"/><SP/><String HEIGHT="22" CONTENT="2006" WIDTH="37" HPOS="602" VPOS="1063" ID="st2-391"/><String HEIGHT="24" CONTENT="." WIDTH="6" HPOS="639" VPOS="1061" ID="st2-392"/><SP/><String HEIGHT="24" CONTENT="London" WIDTH="71" HPOS="650" VPOS="1061" ID="st2-393"/><String HEIGHT="24" CONTENT=":" WIDTH="12" HPOS="721" VPOS="1061" ID="st2-394"/><SP/><String HEIGHT="24" CONTENT="Institute" WIDTH="80" HPOS="738" VPOS="1061" ID="st2-395"/><SP/><String HEIGHT="24" CONTENT="for" WIDTH="28" HPOS="822" VPOS="1061" ID="st2-396"/><SP/><String HEIGHT="24" CONTENT="Fis" WIDTH="26" HPOS="855" VPOS="1061" ID="st2-397" SUBS_TYPE="HypPart1" SUBS_CONTENT="Fiscal"/><HYP CONTENT="-" WIDTH="8" HPOS="881" VPOS="1061" HEIGHT="24"/></TextLine><TextLine HPOS="129" VPOS="1089" ID="tl2-49" WIDTH="105" HEIGHT="24"><String HEIGHT="24" CONTENT="cal" WIDTH="25" HPOS="129" VPOS="1089" ID="st2-398" SUBS_TYPE="HypPart2" SUBS_CONTENT="Fiscal"/><SP/><String HEIGHT="24" CONTENT="Studies" WIDTH="64" HPOS="160" VPOS="1089" ID="st2-399"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="224" VPOS="1089" ID="st2-400"/></TextLine><TextLine HPOS="94" VPOS="1117" ID="tl2-50" WIDTH="569" HEIGHT="24"><String HEIGHT="24" CONTENT="4" WIDTH="9" HPOS="94" VPOS="1117" ID="st2-401"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="103" VPOS="1117" ID="st2-402"/><SP/><String HEIGHT="24" CONTENT="Pikkety" WIDTH="69" HPOS="129" VPOS="1117" ID="st2-403"/><SP/><String HEIGHT="24" CONTENT="T" WIDTH="8" HPOS="204" VPOS="1117" ID="st2-404"/><String HEIGHT="24" CONTENT="." WIDTH="8" HPOS="212" VPOS="1117" ID="st2-405"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="220" VPOS="1117" ID="st2-406"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="35" HPOS="235" VPOS="1117" ID="st2-407"/><SP/><String HEIGHT="24" CONTENT="E" WIDTH="10" HPOS="276" VPOS="1117" ID="st2-408"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="286" VPOS="1117" ID="st2-409"/><SP/><String HEIGHT="24" CONTENT="Saez" WIDTH="42" HPOS="303" VPOS="1117" ID="st2-410"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="352" VPOS="1117" ID="st2-411"/><String HEIGHT="24" CONTENT="2006" WIDTH="41" HPOS="362" VPOS="1117" ID="st2-412"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="403" VPOS="1117" ID="st2-413"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="413" VPOS="1117" ID="st2-414"/><String HEIGHT="24" CONTENT="»" WIDTH="15" HPOS="430" VPOS="1117" ID="st2-415"/><String HEIGHT="24" CONTENT="How" WIDTH="45" HPOS="445" VPOS="1117" ID="st2-416"/><SP/><String HEIGHT="24" CONTENT="Progressive" WIDTH="106" HPOS="497" VPOS="1117" ID="st2-417"/><SP/><String HEIGHT="24" CONTENT="Is" WIDTH="17" HPOS="610" VPOS="1117" ID="st2-418"/><SP/><String HEIGHT="24" CONTENT="the" WIDTH="30" HPOS="633" VPOS="1117" ID="st2-419"/></TextLine><TextLine HPOS="669" VPOS="1122" ID="tl2-51" WIDTH="25" HEIGHT="12"><String HEIGHT="12" CONTENT="us" WIDTH="25" HPOS="669" VPOS="1122" ID="st2-420"/></TextLine><TextLine HPOS="700" VPOS="1117" ID="tl2-52" WIDTH="189" HEIGHT="24"><String HEIGHT="24" CONTENT="Federal" WIDTH="69" HPOS="700" VPOS="1117" ID="st2-421"/><SP/><String HEIGHT="24" CONTENT="Tax" WIDTH="32" HPOS="775" VPOS="1117" ID="st2-422"/><SP/><String HEIGHT="24" CONTENT="System" WIDTH="65" HPOS="813" VPOS="1117" ID="st2-423"/><String HEIGHT="24" CONTENT="?" WIDTH="11" HPOS="878" VPOS="1117" ID="st2-424"/></TextLine><TextLine HPOS="129" VPOS="1145" ID="tl2-53" WIDTH="432" HEIGHT="24"><String HEIGHT="24" CONTENT="An" WIDTH="29" HPOS="129" VPOS="1145" ID="st2-425"/><SP/><String HEIGHT="24" CONTENT="Historical" WIDTH="94" HPOS="165" VPOS="1145" ID="st2-426"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="35" HPOS="267" VPOS="1145" ID="st2-427"/><SP/><String HEIGHT="24" CONTENT="International" WIDTH="124" HPOS="310" VPOS="1145" ID="st2-428"/><SP/><String HEIGHT="24" CONTENT="Perspective," WIDTH="110" HPOS="442" VPOS="1145" ID="st2-429"/><String HEIGHT="24" CONTENT="«" WIDTH="9" HPOS="552" VPOS="1145" ID="st2-430"/></TextLine><TextLine HPOS="570" VPOS="1150" ID="tl2-54" WIDTH="50" HEIGHT="12"><String HEIGHT="12" CONTENT="cepr" WIDTH="50" HPOS="570" VPOS="1150" ID="st2-431"/></TextLine><TextLine HPOS="628" VPOS="1145" ID="tl2-55" WIDTH="261" HEIGHT="24"><String HEIGHT="24" CONTENT="Discussion" WIDTH="102" HPOS="628" VPOS="1145" ID="st2-432"/><SP/><String HEIGHT="24" CONTENT="Paper" WIDTH="53" HPOS="738" VPOS="1145" ID="st2-433"/><SP/><String HEIGHT="24" CONTENT="No" WIDTH="24" HPOS="799" VPOS="1145" ID="st2-434"/><String HEIGHT="24" CONTENT="." WIDTH="13" HPOS="823" VPOS="1145" ID="st2-435"/><SP/><String HEIGHT="24" CONTENT="5778" WIDTH="36" HPOS="844" VPOS="1145" ID="st2-436"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="880" VPOS="1145" ID="st2-437"/></TextLine><TextLine HPOS="129" VPOS="1178" ID="tl2-56" WIDTH="50" HEIGHT="12"><String HEIGHT="12" CONTENT="cepr" WIDTH="50" HPOS="129" VPOS="1178" ID="st2-438"/></TextLine><TextLine HPOS="179" VPOS="1173" ID="tl2-57" WIDTH="94" HEIGHT="23"><String HEIGHT="23" CONTENT="," WIDTH="6" HPOS="179" VPOS="1173" ID="st2-439"/><SP/><String HEIGHT="23" CONTENT="London" WIDTH="70" HPOS="191" VPOS="1173" ID="st2-440"/><String HEIGHT="23" CONTENT="." WIDTH="12" HPOS="261" VPOS="1173" ID="st2-441"/></TextLine><TextLine HPOS="94" VPOS="1200" ID="tl2-58" WIDTH="14" HEIGHT="24"><String HEIGHT="24" CONTENT="5" WIDTH="7" HPOS="94" VPOS="1200" ID="st2-442"/><String HEIGHT="24" CONTENT="." WIDTH="7" HPOS="101" VPOS="1200" ID="st2-443"/></TextLine><TextLine HPOS="129" VPOS="1206" ID="tl2-59" WIDTH="25" HEIGHT="12"><String HEIGHT="12" CONTENT="us" WIDTH="25" HPOS="129" VPOS="1206" ID="st2-444"/></TextLine><TextLine HPOS="159" VPOS="1200" ID="tl2-60" WIDTH="730" HEIGHT="24"><String HEIGHT="24" CONTENT="Congress" WIDTH="87" HPOS="159" VPOS="1200" ID="st2-445"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="250" VPOS="1200" ID="st2-446"/><String HEIGHT="24" CONTENT="2008" WIDTH="40" HPOS="260" VPOS="1200" ID="st2-447"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="300" VPOS="1200" ID="st2-448"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="310" VPOS="1200" ID="st2-449"/><SP/><String HEIGHT="23" CONTENT="State" WIDTH="44" HPOS="326" VPOS="1201" ID="st2-450"/><SP/><String HEIGHT="23" CONTENT="Median" WIDTH="71" HPOS="374" VPOS="1201" ID="st2-451"/><SP/><String HEIGHT="23" CONTENT="Wages" WIDTH="57" HPOS="449" VPOS="1201" ID="st2-452"/><SP/><String HEIGHT="23" CONTENT="and" WIDTH="35" HPOS="510" VPOS="1201" ID="st2-453"/><SP/><String HEIGHT="23" CONTENT="Unemployment" WIDTH="134" HPOS="549" VPOS="1201" ID="st2-454"/><SP/><String HEIGHT="23" CONTENT="Rates" WIDTH="45" HPOS="687" VPOS="1201" ID="st2-455"/><String HEIGHT="23" CONTENT="," WIDTH="9" HPOS="732" VPOS="1201" ID="st2-456"/><SP/><String HEIGHT="24" CONTENT="prepared" WIDTH="83" HPOS="745" VPOS="1200" ID="st2-457"/><SP/><String HEIGHT="24" CONTENT="by" WIDTH="23" HPOS="832" VPOS="1200" ID="st2-458"/><SP/><String HEIGHT="24" CONTENT="the" WIDTH="29" HPOS="860" VPOS="1200" ID="st2-459"/></TextLine><TextLine HPOS="129" VPOS="1228" ID="tl2-61" WIDTH="460" HEIGHT="24"><String HEIGHT="24" CONTENT="Joint" WIDTH="47" HPOS="129" VPOS="1228" ID="st2-460"/><SP/><String HEIGHT="24" CONTENT="Economic" WIDTH="95" HPOS="182" VPOS="1228" ID="st2-461"/><SP/><String HEIGHT="24" CONTENT="Committee" WIDTH="101" HPOS="283" VPOS="1228" ID="st2-462"/><String HEIGHT="24" CONTENT="," WIDTH="12" HPOS="384" VPOS="1228" ID="st2-463"/><SP/><String HEIGHT="24" CONTENT="table" WIDTH="45" HPOS="401" VPOS="1228" ID="st2-464"/><SP/><String HEIGHT="24" CONTENT="released" WIDTH="73" HPOS="452" VPOS="1228" ID="st2-465"/><SP/><String HEIGHT="24" CONTENT="by" WIDTH="23" HPOS="531" VPOS="1228" ID="st2-466"/><SP/><String HEIGHT="24" CONTENT="the" WIDTH="30" HPOS="559" VPOS="1228" ID="st2-467"/></TextLine><TextLine HPOS="595" VPOS="1233" ID="tl2-62" WIDTH="24" HEIGHT="12"><String HEIGHT="12" CONTENT="us" WIDTH="24" HPOS="595" VPOS="1233" ID="st2-468"/></TextLine><TextLine HPOS="619" VPOS="1228" ID="tl2-63" WIDTH="8" HEIGHT="24"><String HEIGHT="24" CONTENT="" WIDTH="0" HPOS="619" VPOS="1228" ID="st2-469" SUBS_TYPE="HypPart1" SUBS_CONTENT="jec"/><HYP CONTENT="-" WIDTH="8" HPOS="619" VPOS="1228" HEIGHT="24"/></TextLine><TextLine HPOS="627" VPOS="1233" ID="tl2-64" WIDTH="32" HEIGHT="12"><String HEIGHT="12" CONTENT="jec" WIDTH="32" HPOS="627" VPOS="1233" ID="st2-470" SUBS_TYPE="HypPart2" SUBS_CONTENT="jec"/></TextLine><TextLine HPOS="664" VPOS="1228" ID="tl2-65" WIDTH="66" HEIGHT="24"><String HEIGHT="24" CONTENT="(" WIDTH="9" HPOS="664" VPOS="1228" ID="st2-471"/><String HEIGHT="24" CONTENT="June" WIDTH="38" HPOS="673" VPOS="1228" ID="st2-472"/><String HEIGHT="24" CONTENT=")" WIDTH="9" HPOS="711" VPOS="1228" ID="st2-473"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="720" VPOS="1228" ID="st2-474"/></TextLine><TextLine HPOS="94" VPOS="1256" ID="tl2-66" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="6" WIDTH="9" HPOS="94" VPOS="1256" ID="st2-475"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="103" VPOS="1256" ID="st2-476"/><SP/><String HEIGHT="24" CONTENT="Sapir" WIDTH="45" HPOS="129" VPOS="1256" ID="st2-477"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="174" VPOS="1256" ID="st2-478"/><SP/><String HEIGHT="24" CONTENT="J" WIDTH="6" HPOS="189" VPOS="1256" ID="st2-479"/><String HEIGHT="24" CONTENT="." WIDTH="7" HPOS="195" VPOS="1256" ID="st2-480"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="208" VPOS="1256" ID="st2-481"/><String HEIGHT="24" CONTENT="2000" WIDTH="42" HPOS="218" VPOS="1256" ID="st2-482"/><String HEIGHT="24" CONTENT=")" WIDTH="11" HPOS="260" VPOS="1256" ID="st2-483"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="271" VPOS="1256" ID="st2-484"/><String HEIGHT="24" CONTENT="»" WIDTH="11" HPOS="288" VPOS="1256" ID="st2-485"/><String HEIGHT="24" CONTENT="Le" WIDTH="24" HPOS="299" VPOS="1256" ID="st2-486"/><SP/><String HEIGHT="24" CONTENT="consensus" WIDTH="93" HPOS="329" VPOS="1256" ID="st2-487"/><SP/><String HEIGHT="24" CONTENT="de" WIDTH="22" HPOS="428" VPOS="1256" ID="st2-488"/><SP/><String HEIGHT="24" CONTENT="Washington" WIDTH="113" HPOS="456" VPOS="1256" ID="st2-489"/><SP/><String HEIGHT="24" CONTENT="et" WIDTH="18" HPOS="575" VPOS="1256" ID="st2-490"/><SP/><String HEIGHT="24" CONTENT="la" WIDTH="15" HPOS="599" VPOS="1256" ID="st2-491"/><SP/><String HEIGHT="24" CONTENT="transition" WIDTH="90" HPOS="620" VPOS="1256" ID="st2-492"/><SP/><String HEIGHT="24" CONTENT="en" WIDTH="22" HPOS="716" VPOS="1256" ID="st2-493"/><SP/><String HEIGHT="24" CONTENT="Russie" WIDTH="59" HPOS="744" VPOS="1256" ID="st2-494"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="803" VPOS="1256" ID="st2-495"/><SP/><String HEIGHT="24" CONTENT="histoire" WIDTH="70" HPOS="819" VPOS="1256" ID="st2-496"/></TextLine><TextLine HPOS="129" VPOS="1284" ID="tl2-67" WIDTH="760" HEIGHT="23"><String HEIGHT="23" CONTENT="d" WIDTH="10" HPOS="129" VPOS="1284" ID="st2-497"/><String HEIGHT="23" CONTENT="’" WIDTH="11" HPOS="139" VPOS="1284" ID="st2-498"/><String HEIGHT="23" CONTENT="un" WIDTH="22" HPOS="150" VPOS="1284" ID="st2-499"/><SP/><String HEIGHT="23" CONTENT="échec," WIDTH="58" HPOS="184" VPOS="1284" ID="st2-500"/><String HEIGHT="23" CONTENT="«" WIDTH="10" HPOS="242" VPOS="1284" ID="st2-501"/><SP/><String HEIGHT="23" CONTENT="in" WIDTH="17" HPOS="263" VPOS="1284" ID="st2-502"/><String HEIGHT="23" CONTENT=":" WIDTH="9" HPOS="280" VPOS="1284" ID="st2-503"/><SP/><String HEIGHT="22" CONTENT="Revue" WIDTH="53" HPOS="301" VPOS="1285" ID="st2-504"/><SP/><String HEIGHT="22" CONTENT="Internationale" WIDTH="130" HPOS="366" VPOS="1285" ID="st2-505"/><SP/><String HEIGHT="22" CONTENT="de" WIDTH="20" HPOS="507" VPOS="1285" ID="st2-506"/><SP/><String HEIGHT="22" CONTENT="Sciences" WIDTH="68" HPOS="538" VPOS="1285" ID="st2-507"/><SP/><String HEIGHT="22" CONTENT="Sociales" WIDTH="63" HPOS="618" VPOS="1285" ID="st2-508"/><String HEIGHT="22" CONTENT="," WIDTH="8" HPOS="681" VPOS="1285" ID="st2-509"/><SP/><String HEIGHT="23" CONTENT="n" WIDTH="10" HPOS="701" VPOS="1284" ID="st2-510"/><String HEIGHT="23" CONTENT="°" WIDTH="11" HPOS="711" VPOS="1284" ID="st2-511"/><String HEIGHT="23" CONTENT="166" WIDTH="32" HPOS="722" VPOS="1284" ID="st2-512"/><String HEIGHT="23" CONTENT="(" WIDTH="11" HPOS="766" VPOS="1284" ID="st2-513"/><String HEIGHT="23" CONTENT="December" WIDTH="89" HPOS="777" VPOS="1284" ID="st2-514"/><String HEIGHT="23" CONTENT=")" WIDTH="11" HPOS="866" VPOS="1284" ID="st2-515"/><String HEIGHT="23" CONTENT=":" WIDTH="12" HPOS="877" VPOS="1284" ID="st2-516"/></TextLine><TextLine HPOS="129" VPOS="1311" ID="tl2-68" WIDTH="71" HEIGHT="24"><String HEIGHT="24" CONTENT="541–553" WIDTH="62" HPOS="129" VPOS="1311" ID="st2-517"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="191" VPOS="1311" ID="st2-518"/></TextLine><TextLine HPOS="94" VPOS="1388" ID="tl2-69" WIDTH="25" HEIGHT="29"><String HEIGHT="29" CONTENT="28" WIDTH="25" HPOS="94" VPOS="1388" ID="st2-519"/></TextLine><TextLine HPOS="138" VPOS="1395" ID="tl2-70" WIDTH="153" HEIGHT="18"><String HEIGHT="18" CONTENT="Sapir" WIDTH="33" HPOS="138" VPOS="1395" ID="st2-520"/><String HEIGHT="18" CONTENT="," WIDTH="7" HPOS="171" VPOS="1395" ID="st2-521"/><SP/><String HEIGHT="18" CONTENT="Financial" WIDTH="65" HPOS="182" VPOS="1395" ID="st2-522"/><SP/><String HEIGHT="18" CONTENT="Crisis" WIDTH="39" HPOS="252" VPOS="1395" ID="st2-523"/></TextLine><TextLine HPOS="799" VPOS="1398" ID="tl2-71" WIDTH="29" HEIGHT="11"><String HEIGHT="11" CONTENT="ipg" WIDTH="29" HPOS="799" VPOS="1398" ID="st2-524"/></TextLine><TextLine HPOS="833" VPOS="1394" ID="tl2-72" WIDTH="56" HEIGHT="21"><String HEIGHT="21" CONTENT="1/2009" WIDTH="56" HPOS="833" VPOS="1394" ID="st2-525"/></TextLine></TextBlock></PrintSpace></Page><Page WIDTH="984" PHYSICAL_IMG_NR="3" ID="p658171" HEIGHT="1472"><PrintSpace WIDTH="984" HPOS="0" VPOS="0" ID="ps658171" HEIGHT="1472"><TextBlock WIDTH="984" HPOS="0" VPOS="0" ID="tb658171" HEIGHT="1472"><TextLine HPOS="94" VPOS="94" ID="tl3-0" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="tries" WIDTH="48" HPOS="94" VPOS="94" ID="st3-0"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="151" VPOS="94" ID="st3-1"/><SP/><String HEIGHT="28" CONTENT="foreign" WIDTH="81" HPOS="183" VPOS="94" ID="st3-2"/><SP/><String HEIGHT="28" CONTENT="exchange" WIDTH="102" HPOS="274" VPOS="94" ID="st3-3"/><SP/><String HEIGHT="28" CONTENT="accumulation" WIDTH="151" HPOS="386" VPOS="94" ID="st3-4"/><SP/><String HEIGHT="28" CONTENT="policies" WIDTH="84" HPOS="546" VPOS="94" ID="st3-5"/><SP/><String HEIGHT="28" CONTENT="based" WIDTH="63" HPOS="640" VPOS="94" ID="st3-6"/><SP/><String HEIGHT="28" CONTENT="on" WIDTH="30" HPOS="712" VPOS="94" ID="st3-7"/><SP/><String HEIGHT="28" CONTENT="undervalued" WIDTH="138" HPOS="751" VPOS="94" ID="st3-8"/></TextLine><TextLine HPOS="94" VPOS="126" ID="tl3-1" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="national" WIDTH="90" HPOS="94" VPOS="126" ID="st3-9"/><SP/><String HEIGHT="28" CONTENT="currencies" WIDTH="112" HPOS="189" VPOS="126" ID="st3-10"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="306" VPOS="126" ID="st3-11"/><SP/><String HEIGHT="28" CONTENT="competitive" WIDTH="131" HPOS="352" VPOS="126" ID="st3-12"/><SP/><String HEIGHT="28" CONTENT="deflation" WIDTH="94" HPOS="488" VPOS="126" ID="st3-13"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="582" VPOS="126" ID="st3-14"/><SP/><String HEIGHT="28" CONTENT="Restraining" WIDTH="128" HPOS="599" VPOS="126" ID="st3-15"/><SP/><String HEIGHT="28" CONTENT="their" WIDTH="52" HPOS="732" VPOS="126" ID="st3-16"/><SP/><String HEIGHT="28" CONTENT="domestic" WIDTH="100" HPOS="789" VPOS="126" ID="st3-17"/></TextLine><TextLine HPOS="94" VPOS="158" ID="tl3-2" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="market" WIDTH="77" HPOS="94" VPOS="158" ID="st3-18"/><SP/><String HEIGHT="28" CONTENT="sharply" WIDTH="80" HPOS="176" VPOS="158" ID="st3-19"/><SP/><String HEIGHT="28" CONTENT="they" WIDTH="47" HPOS="261" VPOS="158" ID="st3-20"/><SP/><String HEIGHT="28" CONTENT="turned" WIDTH="74" HPOS="314" VPOS="158" ID="st3-21"/><SP/><String HEIGHT="28" CONTENT="towards" WIDTH="88" HPOS="393" VPOS="158" ID="st3-22"/><SP/><String HEIGHT="28" CONTENT="an" WIDTH="27" HPOS="486" VPOS="158" ID="st3-23"/><SP/><String HEIGHT="28" CONTENT="export" WIDTH="67" HPOS="518" VPOS="158" ID="st3-24"/><String HEIGHT="28" CONTENT="-" WIDTH="11" HPOS="585" VPOS="158" ID="st3-25"/><String HEIGHT="28" CONTENT="led" WIDTH="34" HPOS="596" VPOS="158" ID="st3-26"/><SP/><String HEIGHT="28" CONTENT="growth" WIDTH="82" HPOS="635" VPOS="158" ID="st3-27"/><SP/><String HEIGHT="28" CONTENT="model" WIDTH="70" HPOS="722" VPOS="158" ID="st3-28"/><SP/><String HEIGHT="28" CONTENT="at" WIDTH="20" HPOS="797" VPOS="158" ID="st3-29"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="823" VPOS="158" ID="st3-30"/><SP/><String HEIGHT="28" CONTENT="time" WIDTH="50" HPOS="839" VPOS="158" ID="st3-31"/></TextLine><TextLine HPOS="94" VPOS="190" ID="tl3-3" WIDTH="103" HEIGHT="28"><String HEIGHT="28" CONTENT="when" WIDTH="61" HPOS="94" VPOS="190" ID="st3-32"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="36" HPOS="161" VPOS="190" ID="st3-33"/></TextLine><TextLine HPOS="203" VPOS="196" ID="tl3-4" WIDTH="51" HEIGHT="14"><String HEIGHT="14" CONTENT="wto" WIDTH="51" HPOS="203" VPOS="196" ID="st3-34"/></TextLine><TextLine HPOS="260" VPOS="190" ID="tl3-5" WIDTH="629" HEIGHT="28"><String HEIGHT="28" CONTENT="was" WIDTH="41" HPOS="260" VPOS="190" ID="st3-35"/><SP/><String HEIGHT="28" CONTENT="fostering" WIDTH="99" HPOS="308" VPOS="190" ID="st3-36"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="413" VPOS="190" ID="st3-37"/><SP/><String HEIGHT="28" CONTENT="new" WIDTH="47" HPOS="431" VPOS="190" ID="st3-38"/><SP/><String HEIGHT="28" CONTENT="free" WIDTH="42" HPOS="484" VPOS="190" ID="st3-39"/><String HEIGHT="28" CONTENT="-" WIDTH="11" HPOS="526" VPOS="190" ID="st3-40"/><String HEIGHT="28" CONTENT="trade" WIDTH="53" HPOS="537" VPOS="190" ID="st3-41"/><SP/><String HEIGHT="28" CONTENT="regime" WIDTH="72" HPOS="597" VPOS="190" ID="st3-42"/><String HEIGHT="28" CONTENT=";" WIDTH="13" HPOS="669" VPOS="190" ID="st3-43"/><SP/><String HEIGHT="28" CONTENT="this" WIDTH="40" HPOS="689" VPOS="190" ID="st3-44"/><SP/><String HEIGHT="28" CONTENT="enabled" WIDTH="85" HPOS="736" VPOS="190" ID="st3-45"/><SP/><String HEIGHT="28" CONTENT="Asian" WIDTH="61" HPOS="828" VPOS="190" ID="st3-46"/></TextLine><TextLine HPOS="94" VPOS="222" ID="tl3-6" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="emerging" WIDTH="105" HPOS="94" VPOS="222" ID="st3-47"/><SP/><String HEIGHT="28" CONTENT="countries" WIDTH="103" HPOS="206" VPOS="222" ID="st3-48"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="316" VPOS="222" ID="st3-49"/><SP/><String HEIGHT="28" CONTENT="implement" WIDTH="120" HPOS="347" VPOS="222" ID="st3-50"/><SP/><String HEIGHT="28" CONTENT="their" WIDTH="52" HPOS="474" VPOS="222" ID="st3-51"/><SP/><String HEIGHT="28" CONTENT="mercantilist" WIDTH="129" HPOS="533" VPOS="222" ID="st3-52"/><SP/><String HEIGHT="28" CONTENT="policies" WIDTH="83" HPOS="670" VPOS="222" ID="st3-53"/><SP/><String HEIGHT="28" CONTENT="with" WIDTH="51" HPOS="760" VPOS="222" ID="st3-54"/><SP/><String HEIGHT="28" CONTENT="full" WIDTH="36" HPOS="818" VPOS="222" ID="st3-55"/><SP/><String HEIGHT="28" CONTENT="ef" WIDTH="19" HPOS="861" VPOS="222" ID="st3-56" SUBS_TYPE="HypPart1" SUBS_CONTENT="effect"/><HYP CONTENT="-" WIDTH="9" HPOS="880" VPOS="222" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="254" ID="tl3-7" WIDTH="47" HEIGHT="28"><String HEIGHT="28" CONTENT="fect" WIDTH="37" HPOS="94" VPOS="254" ID="st3-57" SUBS_TYPE="HypPart2" SUBS_CONTENT="effect"/><String HEIGHT="28" CONTENT="." WIDTH="10" HPOS="131" VPOS="254" ID="st3-58"/></TextLine><TextLine HPOS="129" VPOS="286" ID="tl3-8" WIDTH="760" HEIGHT="28"><String HEIGHT="28" CONTENT="This" WIDTH="50" HPOS="129" VPOS="286" ID="st3-59"/><SP/><String HEIGHT="28" CONTENT="export" WIDTH="68" HPOS="188" VPOS="286" ID="st3-60"/><String HEIGHT="28" CONTENT="-" WIDTH="11" HPOS="256" VPOS="286" ID="st3-61"/><String HEIGHT="28" CONTENT="led" WIDTH="35" HPOS="267" VPOS="286" ID="st3-62"/><SP/><String HEIGHT="28" CONTENT="growth" WIDTH="82" HPOS="312" VPOS="286" ID="st3-63"/><SP/><String HEIGHT="28" CONTENT="achieved" WIDTH="97" HPOS="404" VPOS="286" ID="st3-64"/><SP/><String HEIGHT="28" CONTENT="its" WIDTH="26" HPOS="510" VPOS="286" ID="st3-65"/><SP/><String HEIGHT="28" CONTENT="initial" WIDTH="65" HPOS="545" VPOS="286" ID="st3-66"/><SP/><String HEIGHT="28" CONTENT="targets" WIDTH="71" HPOS="620" VPOS="286" ID="st3-67"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="691" VPOS="286" ID="st3-68"/><SP/><String HEIGHT="28" CONTENT="Asian" WIDTH="62" HPOS="711" VPOS="286" ID="st3-69"/><SP/><String HEIGHT="28" CONTENT="emerging" WIDTH="106" HPOS="783" VPOS="286" ID="st3-70"/></TextLine><TextLine HPOS="94" VPOS="318" ID="tl3-9" WIDTH="744" HEIGHT="28"><String HEIGHT="28" CONTENT="countries" WIDTH="97" HPOS="94" VPOS="318" ID="st3-71"/><String HEIGHT="28" CONTENT="’" WIDTH="11" HPOS="191" VPOS="318" ID="st3-72"/><SP/><String HEIGHT="28" CONTENT="foreign" WIDTH="79" HPOS="207" VPOS="318" ID="st3-73"/><SP/><String HEIGHT="28" CONTENT="exchange" WIDTH="102" HPOS="291" VPOS="318" ID="st3-74"/><SP/><String HEIGHT="28" CONTENT="reserves" WIDTH="85" HPOS="398" VPOS="318" ID="st3-75"/><SP/><String HEIGHT="28" CONTENT="increased" WIDTH="102" HPOS="488" VPOS="318" ID="st3-76"/><SP/><String HEIGHT="28" CONTENT="considerably" WIDTH="132" HPOS="595" VPOS="318" ID="st3-77"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="727" VPOS="318" ID="st3-78"/><SP/><String HEIGHT="28" CONTENT="reaching" WIDTH="94" HPOS="744" VPOS="318" ID="st3-79"/></TextLine><TextLine HPOS="843" VPOS="324" ID="tl3-10" WIDTH="46" HEIGHT="14"><String HEIGHT="14" CONTENT="usd" WIDTH="46" HPOS="843" VPOS="324" ID="st3-80"/></TextLine><TextLine HPOS="94" VPOS="350" ID="tl3-11" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="2,734" WIDTH="58" HPOS="94" VPOS="350" ID="st3-81"/><SP/><String HEIGHT="28" CONTENT="billion" WIDTH="72" HPOS="158" VPOS="350" ID="st3-82"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="27" HPOS="237" VPOS="350" ID="st3-83"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="270" VPOS="350" ID="st3-84"/><SP/><String HEIGHT="28" CONTENT="end" WIDTH="41" HPOS="312" VPOS="350" ID="st3-85"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="359" VPOS="350" ID="st3-86"/><SP/><String HEIGHT="28" CONTENT="August" WIDTH="80" HPOS="388" VPOS="350" ID="st3-87"/><SP/><String HEIGHT="28" CONTENT="2008" WIDTH="49" HPOS="475" VPOS="350" ID="st3-88"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="524" VPOS="350" ID="st3-89"/><SP/><String HEIGHT="28" CONTENT="This" WIDTH="49" HPOS="543" VPOS="350" ID="st3-90"/><SP/><String HEIGHT="28" CONTENT="growth" WIDTH="82" HPOS="598" VPOS="350" ID="st3-91"/><SP/><String HEIGHT="28" CONTENT="regime" WIDTH="77" HPOS="686" VPOS="350" ID="st3-92"/><SP/><String HEIGHT="28" CONTENT="led" WIDTH="34" HPOS="769" VPOS="350" ID="st3-93"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="24" HPOS="809" VPOS="350" ID="st3-94"/><SP/><String HEIGHT="28" CONTENT="high" WIDTH="50" HPOS="839" VPOS="350" ID="st3-95"/></TextLine><TextLine HPOS="94" VPOS="381" ID="tl3-12" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="savings" WIDTH="80" HPOS="94" VPOS="381" ID="st3-96"/><SP/><String HEIGHT="29" CONTENT="rates" WIDTH="51" HPOS="180" VPOS="381" ID="st3-97"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="238" VPOS="381" ID="st3-98"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="285" VPOS="381" ID="st3-99"/><SP/><String HEIGHT="29" CONTENT="emerging" WIDTH="106" HPOS="326" VPOS="381" ID="st3-100"/><SP/><String HEIGHT="29" CONTENT="countries" WIDTH="97" HPOS="438" VPOS="381" ID="st3-101"/><String HEIGHT="29" CONTENT="’" WIDTH="11" HPOS="535" VPOS="381" ID="st3-102"/><SP/><String HEIGHT="29" CONTENT="policy" WIDTH="67" HPOS="552" VPOS="381" ID="st3-103"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="22" HPOS="626" VPOS="381" ID="st3-104"/><SP/><String HEIGHT="29" CONTENT="attracting" WIDTH="106" HPOS="655" VPOS="381" ID="st3-105"/><SP/><String HEIGHT="29" CONTENT="investment" WIDTH="122" HPOS="767" VPOS="381" ID="st3-106"/></TextLine><TextLine HPOS="94" VPOS="413" ID="tl3-13" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="helped" WIDTH="74" HPOS="94" VPOS="413" ID="st3-107"/><SP/><String HEIGHT="29" CONTENT="them" WIDTH="57" HPOS="176" VPOS="413" ID="st3-108"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="23" HPOS="241" VPOS="413" ID="st3-109"/><SP/><String HEIGHT="29" CONTENT="enjoy" WIDTH="61" HPOS="272" VPOS="413" ID="st3-110"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="11" HPOS="341" VPOS="413" ID="st3-111"/><SP/><String HEIGHT="29" CONTENT="high" WIDTH="50" HPOS="360" VPOS="413" ID="st3-112"/><SP/><String HEIGHT="29" CONTENT="rate" WIDTH="42" HPOS="418" VPOS="413" ID="st3-113"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="467" VPOS="413" ID="st3-114"/><SP/><String HEIGHT="29" CONTENT="labor" WIDTH="58" HPOS="498" VPOS="413" ID="st3-115"/><SP/><String HEIGHT="29" CONTENT="productivity" WIDTH="136" HPOS="563" VPOS="413" ID="st3-116"/><SP/><String HEIGHT="29" CONTENT="growth" WIDTH="82" HPOS="707" VPOS="413" ID="st3-117"/><SP/><String HEIGHT="29" CONTENT="that" WIDTH="43" HPOS="797" VPOS="413" ID="st3-118"/><SP/><String HEIGHT="29" CONTENT="was" WIDTH="41" HPOS="848" VPOS="413" ID="st3-119"/></TextLine><TextLine HPOS="94" VPOS="445" ID="tl3-14" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="not" WIDTH="38" HPOS="94" VPOS="445" ID="st3-120"/><SP/><String HEIGHT="29" CONTENT="reflected" WIDTH="94" HPOS="139" VPOS="445" ID="st3-121"/><SP/><String HEIGHT="29" CONTENT="in" WIDTH="22" HPOS="240" VPOS="445" ID="st3-122"/><SP/><String HEIGHT="29" CONTENT="workers" WIDTH="83" HPOS="269" VPOS="445" ID="st3-123"/><String HEIGHT="29" CONTENT="’" WIDTH="12" HPOS="352" VPOS="445" ID="st3-124"/><SP/><String HEIGHT="29" CONTENT="direct" WIDTH="63" HPOS="370" VPOS="445" ID="st3-125"/><SP/><String HEIGHT="29" CONTENT="or" WIDTH="25" HPOS="440" VPOS="445" ID="st3-126"/><SP/><String HEIGHT="29" CONTENT="indirect" WIDTH="85" HPOS="472" VPOS="445" ID="st3-127"/><SP/><String HEIGHT="29" CONTENT="incomes" WIDTH="86" HPOS="563" VPOS="445" ID="st3-128"/><String HEIGHT="29" CONTENT="." WIDTH="13" HPOS="649" VPOS="445" ID="st3-129"/><SP/><String HEIGHT="29" CONTENT="As" WIDTH="28" HPOS="669" VPOS="445" ID="st3-130"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="704" VPOS="445" ID="st3-131"/><SP/><String HEIGHT="29" CONTENT="quality" WIDTH="75" HPOS="746" VPOS="445" ID="st3-132"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="828" VPOS="445" ID="st3-133"/><SP/><String HEIGHT="29" CONTENT="ex" WIDTH="21" HPOS="858" VPOS="445" ID="st3-134" SUBS_TYPE="HypPart1" SUBS_CONTENT="exports"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="445" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="477" ID="tl3-15" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="ports" WIDTH="57" HPOS="94" VPOS="477" ID="st3-135" SUBS_TYPE="HypPart2" SUBS_CONTENT="exports"/><SP/><String HEIGHT="29" CONTENT="began" WIDTH="66" HPOS="160" VPOS="477" ID="st3-136"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="24" HPOS="234" VPOS="477" ID="st3-137"/><SP/><String HEIGHT="29" CONTENT="rise" WIDTH="39" HPOS="266" VPOS="477" ID="st3-138"/><String HEIGHT="29" CONTENT="(" WIDTH="11" HPOS="313" VPOS="477" ID="st3-139"/><String HEIGHT="29" CONTENT="Table" WIDTH="58" HPOS="324" VPOS="477" ID="st3-140"/><SP/><String HEIGHT="29" CONTENT="1" WIDTH="9" HPOS="390" VPOS="477" ID="st3-141"/><String HEIGHT="29" CONTENT=")" WIDTH="9" HPOS="399" VPOS="477" ID="st3-142"/><String HEIGHT="29" CONTENT="," WIDTH="9" HPOS="408" VPOS="477" ID="st3-143"/><SP/><String HEIGHT="29" CONTENT="they" WIDTH="48" HPOS="425" VPOS="477" ID="st3-144"/><SP/><String HEIGHT="29" CONTENT="exerted" WIDTH="80" HPOS="481" VPOS="477" ID="st3-145"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="11" HPOS="570" VPOS="477" ID="st3-146"/><SP/><String HEIGHT="29" CONTENT="deep" WIDTH="53" HPOS="589" VPOS="477" ID="st3-147"/><SP/><String HEIGHT="29" CONTENT="wage" WIDTH="49" HPOS="650" VPOS="477" ID="st3-148"/><String HEIGHT="29" CONTENT="-" WIDTH="12" HPOS="699" VPOS="477" ID="st3-149"/><String HEIGHT="29" CONTENT="led" WIDTH="38" HPOS="711" VPOS="477" ID="st3-150"/><SP/><String HEIGHT="29" CONTENT="deflationary" WIDTH="132" HPOS="757" VPOS="477" ID="st3-151"/></TextLine><TextLine HPOS="94" VPOS="509" ID="tl3-16" WIDTH="521" HEIGHT="29"><String HEIGHT="29" CONTENT="effect" WIDTH="60" HPOS="94" VPOS="509" ID="st3-152"/><SP/><String HEIGHT="29" CONTENT="on" WIDTH="30" HPOS="160" VPOS="509" ID="st3-153"/><SP/><String HEIGHT="29" CONTENT="developed" WIDTH="113" HPOS="196" VPOS="509" ID="st3-154"/><SP/><String HEIGHT="29" CONTENT="economies" WIDTH="112" HPOS="316" VPOS="509" ID="st3-155"/><String HEIGHT="29" CONTENT="," WIDTH="13" HPOS="428" VPOS="509" ID="st3-156"/><SP/><String HEIGHT="29" CONTENT="particularly" WIDTH="126" HPOS="448" VPOS="509" ID="st3-157"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="580" VPOS="509" ID="st3-158"/></TextLine><TextLine HPOS="622" VPOS="516" ID="tl3-17" WIDTH="29" HEIGHT="14"><String HEIGHT="14" CONTENT="us" WIDTH="29" HPOS="622" VPOS="516" ID="st3-159"/></TextLine><TextLine HPOS="658" VPOS="509" ID="tl3-18" WIDTH="106" HEIGHT="29"><String HEIGHT="29" CONTENT="economy" WIDTH="92" HPOS="658" VPOS="509" ID="st3-160"/><String HEIGHT="29" CONTENT="." WIDTH="14" HPOS="750" VPOS="509" ID="st3-161"/></TextLine><TextLine HPOS="764" VPOS="507" ID="tl3-19" WIDTH="9" HEIGHT="20"><String HEIGHT="20" CONTENT="7" WIDTH="9" HPOS="764" VPOS="507" ID="st3-162"/></TextLine><TextLine HPOS="459" VPOS="573" ID="tl3-20" WIDTH="66" HEIGHT="20"><String HEIGHT="20" CONTENT="Table" WIDTH="44" HPOS="459" VPOS="573" ID="st3-163"/><SP/><String HEIGHT="20" CONTENT="1" WIDTH="8" HPOS="509" VPOS="573" ID="st3-164"/><String HEIGHT="20" CONTENT=":" WIDTH="8" HPOS="517" VPOS="573" ID="st3-165"/></TextLine><TextLine HPOS="113" VPOS="606" ID="tl3-21" WIDTH="758" HEIGHT="26"><String HEIGHT="26" CONTENT="Export" WIDTH="67" HPOS="113" VPOS="606" ID="st3-166"/><SP/><String HEIGHT="26" CONTENT="Similarity" WIDTH="98" HPOS="187" VPOS="606" ID="st3-167"/><SP/><String HEIGHT="26" CONTENT="Index" WIDTH="58" HPOS="291" VPOS="606" ID="st3-168"/><SP/><String HEIGHT="26" CONTENT="with" WIDTH="47" HPOS="356" VPOS="606" ID="st3-169"/><SP/><String HEIGHT="26" CONTENT="OECD" WIDTH="61" HPOS="409" VPOS="606" ID="st3-170"/><SP/><String HEIGHT="26" CONTENT="Countries" WIDTH="100" HPOS="477" VPOS="606" ID="st3-171"/><SP/><String HEIGHT="26" CONTENT="–" WIDTH="13" HPOS="584" VPOS="606" ID="st3-172"/><SP/><String HEIGHT="26" CONTENT="Development" WIDTH="139" HPOS="604" VPOS="606" ID="st3-173"/><SP/><String HEIGHT="26" CONTENT="1972–2005" WIDTH="121" HPOS="750" VPOS="606" ID="st3-174"/></TextLine><TextLine HPOS="321" VPOS="663" ID="tl3-22" WIDTH="507" HEIGHT="23"><String HEIGHT="23" CONTENT="1972" WIDTH="35" HPOS="321" VPOS="663" ID="st3-175"/><SP/><String HEIGHT="23" CONTENT="1983" WIDTH="34" HPOS="479" VPOS="663" ID="st3-176"/><SP/><String HEIGHT="23" CONTENT="1994" WIDTH="37" HPOS="635" VPOS="663" ID="st3-177"/><SP/><String HEIGHT="23" CONTENT="2005" WIDTH="34" HPOS="794" VPOS="663" ID="st3-178"/></TextLine><TextLine HPOS="106" VPOS="704" ID="tl3-23" WIDTH="725" HEIGHT="23"><String HEIGHT="23" CONTENT="Taiwan" WIDTH="66" HPOS="106" VPOS="704" ID="st3-179"/><SP/><String HEIGHT="23" CONTENT="0" WIDTH="9" HPOS="319" VPOS="704" ID="st3-180"/><String HEIGHT="23" CONTENT="." WIDTH="10" HPOS="328" VPOS="704" ID="st3-181"/><String HEIGHT="23" CONTENT="14" WIDTH="20" HPOS="338" VPOS="704" ID="st3-182"/><SP/><String HEIGHT="23" CONTENT="0" WIDTH="9" HPOS="477" VPOS="704" ID="st3-183"/><String HEIGHT="23" CONTENT="." WIDTH="10" HPOS="486" VPOS="704" ID="st3-184"/><String HEIGHT="23" CONTENT="17" WIDTH="19" HPOS="496" VPOS="704" ID="st3-185"/><SP/><String HEIGHT="23" CONTENT="0" WIDTH="9" HPOS="634" VPOS="704" ID="st3-186"/><String HEIGHT="23" CONTENT="." WIDTH="10" HPOS="643" VPOS="704" ID="st3-187"/><String HEIGHT="23" CONTENT="22" WIDTH="20" HPOS="653" VPOS="704" ID="st3-188"/><SP/><String HEIGHT="23" CONTENT="0" WIDTH="10" HPOS="791" VPOS="704" ID="st3-189"/><String HEIGHT="23" CONTENT="." WIDTH="10" HPOS="801" VPOS="704" ID="st3-190"/><String HEIGHT="23" CONTENT="22" WIDTH="20" HPOS="811" VPOS="704" ID="st3-191"/></TextLine><TextLine HPOS="106" VPOS="745" ID="tl3-24" WIDTH="722" HEIGHT="24"><String HEIGHT="24" CONTENT="Hong" WIDTH="56" HPOS="106" VPOS="745" ID="st3-192"/><SP/><String HEIGHT="24" CONTENT="Kong" WIDTH="53" HPOS="167" VPOS="745" ID="st3-193"/><SP/><String HEIGHT="24" CONTENT="0" WIDTH="8" HPOS="321" VPOS="745" ID="st3-194"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="329" VPOS="745" ID="st3-195"/><String HEIGHT="24" CONTENT="11" WIDTH="18" HPOS="338" VPOS="745" ID="st3-196"/><SP/><String HEIGHT="24" CONTENT="0" WIDTH="9" HPOS="478" VPOS="745" ID="st3-197"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="487" VPOS="745" ID="st3-198"/><String HEIGHT="24" CONTENT="13" WIDTH="18" HPOS="496" VPOS="745" ID="st3-199"/><SP/><String HEIGHT="24" CONTENT="0" WIDTH="9" HPOS="635" VPOS="745" ID="st3-200"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="644" VPOS="745" ID="st3-201"/><String HEIGHT="24" CONTENT="17" WIDTH="19" HPOS="653" VPOS="745" ID="st3-202"/><SP/><String HEIGHT="24" CONTENT="0" WIDTH="8" HPOS="794" VPOS="745" ID="st3-203"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="802" VPOS="745" ID="st3-204"/><String HEIGHT="24" CONTENT="15" WIDTH="17" HPOS="811" VPOS="745" ID="st3-205"/></TextLine><TextLine HPOS="106" VPOS="787" ID="tl3-25" WIDTH="724" HEIGHT="24"><String HEIGHT="24" CONTENT="Korea" WIDTH="55" HPOS="106" VPOS="787" ID="st3-206"/><SP/><String HEIGHT="24" CONTENT="0" WIDTH="8" HPOS="321" VPOS="787" ID="st3-207"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="329" VPOS="787" ID="st3-208"/><String HEIGHT="24" CONTENT="11" WIDTH="18" HPOS="338" VPOS="787" ID="st3-209"/><SP/><String HEIGHT="24" CONTENT="0" WIDTH="9" HPOS="478" VPOS="787" ID="st3-210"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="487" VPOS="787" ID="st3-211"/><String HEIGHT="24" CONTENT="18" WIDTH="19" HPOS="496" VPOS="787" ID="st3-212"/><SP/><String HEIGHT="24" CONTENT="0" WIDTH="9" HPOS="635" VPOS="787" ID="st3-213"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="644" VPOS="787" ID="st3-214"/><String HEIGHT="24" CONTENT="25" WIDTH="19" HPOS="653" VPOS="787" ID="st3-215"/><SP/><String HEIGHT="24" CONTENT="0" WIDTH="9" HPOS="793" VPOS="787" ID="st3-216"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="802" VPOS="787" ID="st3-217"/><String HEIGHT="24" CONTENT="33" WIDTH="19" HPOS="811" VPOS="787" ID="st3-218"/></TextLine><TextLine HPOS="106" VPOS="829" ID="tl3-26" WIDTH="722" HEIGHT="23"><String HEIGHT="23" CONTENT="Singapore" WIDTH="94" HPOS="106" VPOS="829" ID="st3-219"/><SP/><String HEIGHT="23" CONTENT="0" WIDTH="10" HPOS="317" VPOS="829" ID="st3-220"/><String HEIGHT="23" CONTENT="." WIDTH="11" HPOS="327" VPOS="829" ID="st3-221"/><String HEIGHT="23" CONTENT="06" WIDTH="22" HPOS="338" VPOS="829" ID="st3-222"/><SP/><String HEIGHT="23" CONTENT="0" WIDTH="9" HPOS="478" VPOS="829" ID="st3-223"/><String HEIGHT="23" CONTENT="." WIDTH="9" HPOS="487" VPOS="829" ID="st3-224"/><String HEIGHT="23" CONTENT="13" WIDTH="18" HPOS="496" VPOS="829" ID="st3-225"/><SP/><String HEIGHT="23" CONTENT="0" WIDTH="9" HPOS="634" VPOS="829" ID="st3-226"/><String HEIGHT="23" CONTENT="." WIDTH="10" HPOS="643" VPOS="829" ID="st3-227"/><String HEIGHT="23" CONTENT="16" WIDTH="20" HPOS="653" VPOS="829" ID="st3-228"/><SP/><String HEIGHT="23" CONTENT="0" WIDTH="8" HPOS="794" VPOS="829" ID="st3-229"/><String HEIGHT="23" CONTENT="." WIDTH="9" HPOS="802" VPOS="829" ID="st3-230"/><String HEIGHT="23" CONTENT="15" WIDTH="17" HPOS="811" VPOS="829" ID="st3-231"/></TextLine><TextLine HPOS="106" VPOS="870" ID="tl3-27" WIDTH="724" HEIGHT="24"><String HEIGHT="24" CONTENT="China" WIDTH="56" HPOS="106" VPOS="870" ID="st3-232"/><SP/><String HEIGHT="24" CONTENT="0" WIDTH="9" HPOS="319" VPOS="870" ID="st3-233"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="328" VPOS="870" ID="st3-234"/><String HEIGHT="24" CONTENT="05" WIDTH="20" HPOS="338" VPOS="870" ID="st3-235"/><SP/><String HEIGHT="24" CONTENT="0" WIDTH="10" HPOS="475" VPOS="870" ID="st3-236"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="485" VPOS="870" ID="st3-237"/><String HEIGHT="24" CONTENT="08" WIDTH="21" HPOS="496" VPOS="870" ID="st3-238"/><SP/><String HEIGHT="24" CONTENT="0" WIDTH="8" HPOS="636" VPOS="870" ID="st3-239"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="644" VPOS="870" ID="st3-240"/><String HEIGHT="24" CONTENT="15" WIDTH="18" HPOS="653" VPOS="870" ID="st3-241"/><SP/><String HEIGHT="24" CONTENT="0" WIDTH="9" HPOS="792" VPOS="870" ID="st3-242"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="801" VPOS="870" ID="st3-243"/><String HEIGHT="24" CONTENT="21" WIDTH="19" HPOS="811" VPOS="870" ID="st3-244"/></TextLine><TextLine HPOS="106" VPOS="912" ID="tl3-28" WIDTH="724" HEIGHT="24"><String HEIGHT="24" CONTENT="India" WIDTH="49" HPOS="106" VPOS="912" ID="st3-245"/><SP/><String HEIGHT="24" CONTENT="0" WIDTH="9" HPOS="319" VPOS="912" ID="st3-246"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="328" VPOS="912" ID="st3-247"/><String HEIGHT="24" CONTENT="05" WIDTH="20" HPOS="338" VPOS="912" ID="st3-248"/><SP/><String HEIGHT="24" CONTENT="0" WIDTH="10" HPOS="475" VPOS="912" ID="st3-249"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="485" VPOS="912" ID="st3-250"/><String HEIGHT="24" CONTENT="07" WIDTH="21" HPOS="496" VPOS="912" ID="st3-251"/><SP/><String HEIGHT="24" CONTENT="0" WIDTH="10" HPOS="632" VPOS="912" ID="st3-252"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="642" VPOS="912" ID="st3-253"/><String HEIGHT="24" CONTENT="09" WIDTH="22" HPOS="653" VPOS="912" ID="st3-254"/><SP/><String HEIGHT="24" CONTENT="0" WIDTH="9" HPOS="792" VPOS="912" ID="st3-255"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="801" VPOS="912" ID="st3-256"/><String HEIGHT="24" CONTENT="16" WIDTH="19" HPOS="811" VPOS="912" ID="st3-257"/></TextLine><TextLine HPOS="94" VPOS="960" ID="tl3-29" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="Source" WIDTH="61" HPOS="94" VPOS="960" ID="st3-258"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="155" VPOS="960" ID="st3-259"/><SP/><String HEIGHT="24" CONTENT="Schott" WIDTH="58" HPOS="174" VPOS="960" ID="st3-260"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="232" VPOS="960" ID="st3-261"/><SP/><String HEIGHT="24" CONTENT="P" WIDTH="9" HPOS="250" VPOS="960" ID="st3-262"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="259" VPOS="960" ID="st3-263"/><String HEIGHT="24" CONTENT="K" WIDTH="9" HPOS="269" VPOS="960" ID="st3-264"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="278" VPOS="960" ID="st3-265"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="296" VPOS="960" ID="st3-266"/><String HEIGHT="24" CONTENT="2008" WIDTH="41" HPOS="306" VPOS="960" ID="st3-267"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="347" VPOS="960" ID="st3-268"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="357" VPOS="960" ID="st3-269"/><String HEIGHT="24" CONTENT="»" WIDTH="11" HPOS="375" VPOS="960" ID="st3-270"/><String HEIGHT="24" CONTENT="The" WIDTH="35" HPOS="386" VPOS="960" ID="st3-271"/><SP/><String HEIGHT="24" CONTENT="Relative" WIDTH="76" HPOS="429" VPOS="960" ID="st3-272"/><SP/><String HEIGHT="24" CONTENT="Sophistication" WIDTH="135" HPOS="513" VPOS="960" ID="st3-273"/><SP/><String HEIGHT="24" CONTENT="of" WIDTH="19" HPOS="656" VPOS="960" ID="st3-274"/><SP/><String HEIGHT="24" CONTENT="Chinese" WIDTH="75" HPOS="683" VPOS="960" ID="st3-275"/><SP/><String HEIGHT="24" CONTENT="Exports," WIDTH="80" HPOS="766" VPOS="960" ID="st3-276"/><String HEIGHT="24" CONTENT="«" WIDTH="10" HPOS="846" VPOS="960" ID="st3-277"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="17" HPOS="863" VPOS="960" ID="st3-278"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="880" VPOS="960" ID="st3-279"/></TextLine><TextLine HPOS="94" VPOS="988" ID="tl3-30" WIDTH="358" HEIGHT="22"><String HEIGHT="22" CONTENT="Economic" WIDTH="82" HPOS="94" VPOS="988" ID="st3-280"/><SP/><String HEIGHT="22" CONTENT="Policy" WIDTH="46" HPOS="182" VPOS="988" ID="st3-281"/><String HEIGHT="22" CONTENT="," WIDTH="8" HPOS="228" VPOS="988" ID="st3-282"/><SP/><String HEIGHT="24" CONTENT="55" WIDTH="15" HPOS="242" VPOS="986" ID="st3-283"/><String HEIGHT="24" CONTENT="(" WIDTH="9" HPOS="263" VPOS="986" ID="st3-284"/><String HEIGHT="24" CONTENT="January" WIDTH="67" HPOS="272" VPOS="986" ID="st3-285"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="339" VPOS="986" ID="st3-286"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="349" VPOS="986" ID="st3-287"/><SP/><String HEIGHT="24" CONTENT="7–40" WIDTH="42" HPOS="365" VPOS="986" ID="st3-288"/><String HEIGHT="24" CONTENT="," WIDTH="11" HPOS="407" VPOS="986" ID="st3-289"/><SP/><String HEIGHT="24" CONTENT="26" WIDTH="19" HPOS="423" VPOS="986" ID="st3-290"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="442" VPOS="986" ID="st3-291"/></TextLine><TextLine HPOS="94" VPOS="1079" ID="tl3-31" WIDTH="413" HEIGHT="27"><String HEIGHT="27" CONTENT="Unsustainable" WIDTH="183" HPOS="94" VPOS="1079" ID="st3-292"/><SP/><String HEIGHT="27" CONTENT="Growth" WIDTH="98" HPOS="285" VPOS="1079" ID="st3-293"/><SP/><String HEIGHT="27" CONTENT="in" WIDTH="24" HPOS="390" VPOS="1079" ID="st3-294"/><SP/><String HEIGHT="27" CONTENT="the" WIDTH="43" HPOS="422" VPOS="1079" ID="st3-295"/><SP/><String HEIGHT="27" CONTENT="US" WIDTH="34" HPOS="473" VPOS="1079" ID="st3-296"/></TextLine><TextLine HPOS="94" VPOS="1143" ID="tl3-32" WIDTH="43" HEIGHT="28"><String HEIGHT="28" CONTENT="The" WIDTH="43" HPOS="94" VPOS="1143" ID="st3-297"/></TextLine><TextLine HPOS="142" VPOS="1149" ID="tl3-33" WIDTH="29" HEIGHT="14"><String HEIGHT="14" CONTENT="us" WIDTH="29" HPOS="142" VPOS="1149" ID="st3-298"/></TextLine><TextLine HPOS="176" VPOS="1143" ID="tl3-34" WIDTH="713" HEIGHT="28"><String HEIGHT="28" CONTENT="economy" WIDTH="101" HPOS="176" VPOS="1143" ID="st3-299"/><SP/><String HEIGHT="28" CONTENT="maintained" WIDTH="123" HPOS="282" VPOS="1143" ID="st3-300"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="410" VPOS="1143" ID="st3-301"/><SP/><String HEIGHT="28" CONTENT="high" WIDTH="50" HPOS="426" VPOS="1143" ID="st3-302"/><SP/><String HEIGHT="28" CONTENT="rate" WIDTH="41" HPOS="481" VPOS="1143" ID="st3-303"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="527" VPOS="1143" ID="st3-304"/><SP/><String HEIGHT="28" CONTENT="growth" WIDTH="80" HPOS="555" VPOS="1143" ID="st3-305"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="27" HPOS="640" VPOS="1143" ID="st3-306"/><SP/><String HEIGHT="28" CONTENT="substituting" WIDTH="132" HPOS="672" VPOS="1143" ID="st3-307"/><SP/><String HEIGHT="28" CONTENT="credit" WIDTH="62" HPOS="809" VPOS="1143" ID="st3-308"/><SP/><String HEIGHT="28" CONTENT="–" WIDTH="13" HPOS="876" VPOS="1143" ID="st3-309"/></TextLine><TextLine HPOS="94" VPOS="1175" ID="tl3-35" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="mostly" WIDTH="76" HPOS="94" VPOS="1175" ID="st3-310"/><SP/><String HEIGHT="28" CONTENT="mortgage" WIDTH="108" HPOS="180" VPOS="1175" ID="st3-311"/><SP/><String HEIGHT="28" CONTENT="credit" WIDTH="64" HPOS="298" VPOS="1175" ID="st3-312"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="372" VPOS="1175" ID="st3-313"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="423" VPOS="1175" ID="st3-314"/><SP/><String HEIGHT="28" CONTENT="now" WIDTH="50" HPOS="468" VPOS="1175" ID="st3-315"/><SP/><String HEIGHT="28" CONTENT="notorious" WIDTH="110" HPOS="528" VPOS="1175" ID="st3-316"/><SP/><String HEIGHT="27" CONTENT="home" WIDTH="55" HPOS="648" VPOS="1176" ID="st3-317"/><SP/><String HEIGHT="27" CONTENT="equity" WIDTH="63" HPOS="712" VPOS="1176" ID="st3-318"/><SP/><String HEIGHT="27" CONTENT="extraction" WIDTH="104" HPOS="785" VPOS="1176" ID="st3-319"/></TextLine><TextLine HPOS="94" VPOS="1207" ID="tl3-36" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="mechanism" WIDTH="125" HPOS="94" VPOS="1207" ID="st3-320"/><SP/><String HEIGHT="28" CONTENT="–" WIDTH="13" HPOS="228" VPOS="1207" ID="st3-321"/><SP/><String HEIGHT="28" CONTENT="for" WIDTH="32" HPOS="250" VPOS="1207" ID="st3-322"/><SP/><String HEIGHT="28" CONTENT="labor" WIDTH="57" HPOS="291" VPOS="1207" ID="st3-323"/><SP/><String HEIGHT="28" CONTENT="income" WIDTH="76" HPOS="357" VPOS="1207" ID="st3-324"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="433" VPOS="1207" ID="st3-325"/><SP/><String HEIGHT="28" CONTENT="This" WIDTH="49" HPOS="454" VPOS="1207" ID="st3-326"/><SP/><String HEIGHT="28" CONTENT="was" WIDTH="41" HPOS="512" VPOS="1207" ID="st3-327"/><SP/><String HEIGHT="28" CONTENT="helped" WIDTH="74" HPOS="561" VPOS="1207" ID="st3-328"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="27" HPOS="644" VPOS="1207" ID="st3-329"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="680" VPOS="1207" ID="st3-330"/><SP/><String HEIGHT="28" CONTENT="highly" WIDTH="70" HPOS="700" VPOS="1207" ID="st3-331"/><SP/><String HEIGHT="28" CONTENT="pro" WIDTH="33" HPOS="778" VPOS="1207" ID="st3-332"/><String HEIGHT="28" CONTENT="-" WIDTH="11" HPOS="811" VPOS="1207" ID="st3-333"/><String HEIGHT="28" CONTENT="active" WIDTH="67" HPOS="822" VPOS="1207" ID="st3-334"/></TextLine><TextLine HPOS="94" VPOS="1284" ID="tl3-37" WIDTH="795" HEIGHT="23"><String HEIGHT="23" CONTENT="7" WIDTH="7" HPOS="94" VPOS="1284" ID="st3-335"/><String HEIGHT="23" CONTENT="." WIDTH="8" HPOS="101" VPOS="1284" ID="st3-336"/><SP/><String HEIGHT="23" CONTENT="Bivens" WIDTH="58" HPOS="129" VPOS="1284" ID="st3-337"/><String HEIGHT="23" CONTENT="," WIDTH="10" HPOS="187" VPOS="1284" ID="st3-338"/><SP/><String HEIGHT="23" CONTENT="J" WIDTH="7" HPOS="203" VPOS="1284" ID="st3-339"/><String HEIGHT="23" CONTENT="." WIDTH="7" HPOS="210" VPOS="1284" ID="st3-340"/><String HEIGHT="23" CONTENT="(" WIDTH="10" HPOS="223" VPOS="1284" ID="st3-341"/><String HEIGHT="23" CONTENT="2007" WIDTH="40" HPOS="233" VPOS="1284" ID="st3-342"/><String HEIGHT="23" CONTENT=")" WIDTH="10" HPOS="273" VPOS="1284" ID="st3-343"/><String HEIGHT="23" CONTENT=":" WIDTH="11" HPOS="283" VPOS="1284" ID="st3-344"/><String HEIGHT="23" CONTENT="»" WIDTH="9" HPOS="300" VPOS="1284" ID="st3-345"/><String HEIGHT="23" CONTENT="Globalization" WIDTH="126" HPOS="309" VPOS="1284" ID="st3-346"/><String HEIGHT="23" CONTENT="," WIDTH="10" HPOS="435" VPOS="1284" ID="st3-347"/><SP/><String HEIGHT="23" CONTENT="American" WIDTH="90" HPOS="451" VPOS="1284" ID="st3-348"/><SP/><String HEIGHT="23" CONTENT="Wages" WIDTH="55" HPOS="547" VPOS="1284" ID="st3-349"/><String HEIGHT="23" CONTENT="," WIDTH="11" HPOS="602" VPOS="1284" ID="st3-350"/><SP/><String HEIGHT="23" CONTENT="and" WIDTH="35" HPOS="619" VPOS="1284" ID="st3-351"/><SP/><String HEIGHT="23" CONTENT="Inequality," WIDTH="99" HPOS="660" VPOS="1284" ID="st3-352"/><String HEIGHT="23" CONTENT="«" WIDTH="10" HPOS="759" VPOS="1284" ID="st3-353"/><SP/><String HEIGHT="23" CONTENT="in" WIDTH="17" HPOS="775" VPOS="1284" ID="st3-354"/><String HEIGHT="23" CONTENT=":" WIDTH="9" HPOS="792" VPOS="1284" ID="st3-355"/><SP/><String HEIGHT="22" CONTENT="Economic" WIDTH="82" HPOS="807" VPOS="1285" ID="st3-356"/></TextLine><TextLine HPOS="129" VPOS="1313" ID="tl3-38" WIDTH="391" HEIGHT="22"><String HEIGHT="22" CONTENT="Policy" WIDTH="50" HPOS="129" VPOS="1313" ID="st3-357"/><SP/><String HEIGHT="22" CONTENT="Institute" WIDTH="75" HPOS="185" VPOS="1313" ID="st3-358"/><SP/><String HEIGHT="22" CONTENT="Working" WIDTH="78" HPOS="265" VPOS="1313" ID="st3-359"/><SP/><String HEIGHT="22" CONTENT="Paper" WIDTH="44" HPOS="349" VPOS="1313" ID="st3-360"/><String HEIGHT="22" CONTENT="," WIDTH="9" HPOS="393" VPOS="1313" ID="st3-361"/><SP/><String HEIGHT="24" CONTENT="Washington" WIDTH="113" HPOS="407" VPOS="1311" ID="st3-362"/></TextLine><TextLine HPOS="526" VPOS="1317" ID="tl3-39" WIDTH="27" HEIGHT="12"><String HEIGHT="12" CONTENT="dc" WIDTH="27" HPOS="526" VPOS="1317" ID="st3-363"/></TextLine><TextLine HPOS="559" VPOS="1311" ID="tl3-40" WIDTH="140" HEIGHT="24"><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="559" VPOS="1311" ID="st3-364"/><String HEIGHT="24" CONTENT="September" WIDTH="99" HPOS="569" VPOS="1311" ID="st3-365"/><SP/><String HEIGHT="24" CONTENT="6" WIDTH="8" HPOS="674" VPOS="1311" ID="st3-366"/><String HEIGHT="24" CONTENT=")" WIDTH="8" HPOS="682" VPOS="1311" ID="st3-367"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="690" VPOS="1311" ID="st3-368"/></TextLine><TextLine HPOS="94" VPOS="1398" ID="tl3-41" WIDTH="30" HEIGHT="11"><String HEIGHT="11" CONTENT="ipg" WIDTH="30" HPOS="94" VPOS="1398" ID="st3-369"/></TextLine><TextLine HPOS="128" VPOS="1394" ID="tl3-42" WIDTH="56" HEIGHT="21"><String HEIGHT="21" CONTENT="1/2009" WIDTH="56" HPOS="128" VPOS="1394" ID="st3-370"/></TextLine><TextLine HPOS="691" VPOS="1395" ID="tl3-43" WIDTH="152" HEIGHT="18"><String HEIGHT="18" CONTENT="Sapir" WIDTH="33" HPOS="691" VPOS="1395" ID="st3-371"/><String HEIGHT="18" CONTENT="," WIDTH="7" HPOS="724" VPOS="1395" ID="st3-372"/><SP/><String HEIGHT="18" CONTENT="Financial" WIDTH="64" HPOS="735" VPOS="1395" ID="st3-373"/><SP/><String HEIGHT="18" CONTENT="Crisis" WIDTH="39" HPOS="804" VPOS="1395" ID="st3-374"/></TextLine><TextLine HPOS="863" VPOS="1388" ID="tl3-44" WIDTH="26" HEIGHT="29"><String HEIGHT="29" CONTENT="29" WIDTH="26" HPOS="863" VPOS="1388" ID="st3-375"/></TextLine></TextBlock></PrintSpace></Page><Page WIDTH="984" PHYSICAL_IMG_NR="4" ID="p658172" HEIGHT="1472"><PrintSpace WIDTH="984" HPOS="0" VPOS="0" ID="ps658172" HEIGHT="1472"><TextBlock WIDTH="984" HPOS="0" VPOS="0" ID="tb658172" HEIGHT="1472"><TextLine HPOS="94" VPOS="92" ID="tl4-0" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="monetary" WIDTH="106" HPOS="94" VPOS="92" ID="st4-0"/><SP/><String HEIGHT="29" CONTENT="policy" WIDTH="67" HPOS="205" VPOS="92" ID="st4-1"/><SP/><String HEIGHT="29" CONTENT="but" WIDTH="38" HPOS="277" VPOS="92" ID="st4-2"/><SP/><String HEIGHT="29" CONTENT="also" WIDTH="43" HPOS="320" VPOS="92" ID="st4-3"/><SP/><String HEIGHT="29" CONTENT="by" WIDTH="27" HPOS="369" VPOS="92" ID="st4-4"/><SP/><String HEIGHT="29" CONTENT="securitization" WIDTH="146" HPOS="401" VPOS="92" ID="st4-5"/><String HEIGHT="29" CONTENT="." WIDTH="11" HPOS="547" VPOS="92" ID="st4-6"/><SP/><String HEIGHT="29" CONTENT="In" WIDTH="25" HPOS="563" VPOS="92" ID="st4-7"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="12" HPOS="593" VPOS="92" ID="st4-8"/><SP/><String HEIGHT="29" CONTENT="largely" WIDTH="73" HPOS="610" VPOS="92" ID="st4-9"/><SP/><String HEIGHT="29" CONTENT="deregulated" WIDTH="130" HPOS="689" VPOS="92" ID="st4-10"/><SP/><String HEIGHT="29" CONTENT="finan" WIDTH="55" HPOS="824" VPOS="92" ID="st4-11" SUBS_TYPE="HypPart1" SUBS_CONTENT="financial"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="92" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="124" ID="tl4-1" WIDTH="188" HEIGHT="29"><String HEIGHT="29" CONTENT="cial" WIDTH="37" HPOS="94" VPOS="124" ID="st4-12" SUBS_TYPE="HypPart2" SUBS_CONTENT="financial"/><SP/><String HEIGHT="29" CONTENT="environment" WIDTH="143" HPOS="139" VPOS="124" ID="st4-13"/></TextLine><TextLine HPOS="282" VPOS="122" ID="tl4-2" WIDTH="9" HEIGHT="21"><String HEIGHT="21" CONTENT="8" WIDTH="9" HPOS="282" VPOS="122" ID="st4-14"/></TextLine><TextLine HPOS="299" VPOS="124" ID="tl4-3" WIDTH="590" HEIGHT="29"><String HEIGHT="29" CONTENT="securitization" WIDTH="149" HPOS="299" VPOS="124" ID="st4-15"/><SP/><String HEIGHT="29" CONTENT="helped" WIDTH="74" HPOS="456" VPOS="124" ID="st4-16"/><SP/><String HEIGHT="29" CONTENT="banks" WIDTH="64" HPOS="538" VPOS="124" ID="st4-17"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="610" VPOS="124" ID="st4-18"/><SP/><String HEIGHT="29" CONTENT="mortgage" WIDTH="106" HPOS="660" VPOS="124" ID="st4-19"/><SP/><String HEIGHT="29" CONTENT="brokers" WIDTH="84" HPOS="774" VPOS="124" ID="st4-20"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="23" HPOS="866" VPOS="124" ID="st4-21"/></TextLine><TextLine HPOS="94" VPOS="156" ID="tl4-4" WIDTH="478" HEIGHT="29"><String HEIGHT="29" CONTENT="lower" WIDTH="63" HPOS="94" VPOS="156" ID="st4-22"/><SP/><String HEIGHT="29" CONTENT="interest" WIDTH="82" HPOS="163" VPOS="156" ID="st4-23"/><SP/><String HEIGHT="29" CONTENT="rates" WIDTH="51" HPOS="251" VPOS="156" ID="st4-24"/><SP/><String HEIGHT="29" CONTENT="on" WIDTH="30" HPOS="308" VPOS="156" ID="st4-25"/><SP/><String HEIGHT="29" CONTENT="high" WIDTH="44" HPOS="344" VPOS="156" ID="st4-26"/><String HEIGHT="29" CONTENT="-" WIDTH="11" HPOS="388" VPOS="156" ID="st4-27"/><String HEIGHT="29" CONTENT="risk" WIDTH="44" HPOS="399" VPOS="156" ID="st4-28"/><SP/><String HEIGHT="29" CONTENT="mortgages" WIDTH="110" HPOS="449" VPOS="156" ID="st4-29"/><String HEIGHT="29" CONTENT="." WIDTH="13" HPOS="559" VPOS="156" ID="st4-30"/></TextLine><TextLine HPOS="572" VPOS="154" ID="tl4-5" WIDTH="10" HEIGHT="20"><String HEIGHT="20" CONTENT="9" WIDTH="10" HPOS="572" VPOS="154" ID="st4-31"/></TextLine><TextLine HPOS="587" VPOS="156" ID="tl4-6" WIDTH="302" HEIGHT="29"><String HEIGHT="29" CONTENT="The" WIDTH="44" HPOS="587" VPOS="156" ID="st4-32"/><SP/><String HEIGHT="29" CONTENT="cut" WIDTH="33" HPOS="637" VPOS="156" ID="st4-33"/><String HEIGHT="29" CONTENT="-" WIDTH="11" HPOS="670" VPOS="156" ID="st4-34"/><String HEIGHT="29" CONTENT="throat" WIDTH="66" HPOS="681" VPOS="156" ID="st4-35"/><SP/><String HEIGHT="29" CONTENT="competition" WIDTH="136" HPOS="753" VPOS="156" ID="st4-36"/></TextLine><TextLine HPOS="94" VPOS="188" ID="tl4-7" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="in" WIDTH="22" HPOS="94" VPOS="188" ID="st4-37"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="123" VPOS="188" ID="st4-38"/><SP/><String HEIGHT="29" CONTENT="mortgage" WIDTH="107" HPOS="166" VPOS="188" ID="st4-39"/><SP/><String HEIGHT="29" CONTENT="industry" WIDTH="92" HPOS="280" VPOS="188" ID="st4-40"/><SP/><String HEIGHT="29" CONTENT="was" WIDTH="41" HPOS="379" VPOS="188" ID="st4-41"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="11" HPOS="428" VPOS="188" ID="st4-42"/><SP/><String HEIGHT="29" CONTENT="strong" WIDTH="71" HPOS="447" VPOS="188" ID="st4-43"/><SP/><String HEIGHT="29" CONTENT="impetus" WIDTH="89" HPOS="526" VPOS="188" ID="st4-44"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="24" HPOS="622" VPOS="188" ID="st4-45"/><SP/><String HEIGHT="29" CONTENT="extend" WIDTH="74" HPOS="653" VPOS="188" ID="st4-46"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="734" VPOS="188" ID="st4-47"/><SP/><String HEIGHT="29" CONTENT="securitiza" WIDTH="102" HPOS="777" VPOS="188" ID="st4-48" SUBS_TYPE="HypPart1" SUBS_CONTENT="securitization"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="188" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="220" ID="tl4-8" WIDTH="777" HEIGHT="28"><String HEIGHT="28" CONTENT="tion" WIDTH="45" HPOS="94" VPOS="220" ID="st4-49" SUBS_TYPE="HypPart2" SUBS_CONTENT="securitization"/><SP/><String HEIGHT="28" CONTENT="process" WIDTH="81" HPOS="146" VPOS="220" ID="st4-50"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="234" VPOS="220" ID="st4-51"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="264" VPOS="220" ID="st4-52"/><SP/><String HEIGHT="28" CONTENT="mortgage" WIDTH="107" HPOS="305" VPOS="220" ID="st4-53"/><SP/><String HEIGHT="28" CONTENT="industry" WIDTH="92" HPOS="418" VPOS="220" ID="st4-54"/><String HEIGHT="28" CONTENT="(" WIDTH="12" HPOS="517" VPOS="220" ID="st4-55"/><String HEIGHT="28" CONTENT="with" WIDTH="48" HPOS="529" VPOS="220" ID="st4-56"/><SP/><String HEIGHT="26" CONTENT="mortgage" WIDTH="92" HPOS="584" VPOS="222" ID="st4-57"/><String HEIGHT="26" CONTENT="-" WIDTH="12" HPOS="676" VPOS="222" ID="st4-58"/><String HEIGHT="26" CONTENT="backed" WIDTH="70" HPOS="688" VPOS="222" ID="st4-59"/><SP/><String HEIGHT="26" CONTENT="securities" WIDTH="90" HPOS="765" VPOS="222" ID="st4-60"/><String HEIGHT="28" CONTENT=")" WIDTH="8" HPOS="855" VPOS="220" ID="st4-61"/><String HEIGHT="28" CONTENT="." WIDTH="8" HPOS="863" VPOS="220" ID="st4-62"/></TextLine><TextLine HPOS="871" VPOS="218" ID="tl4-9" WIDTH="18" HEIGHT="20"><String HEIGHT="20" CONTENT="10" WIDTH="18" HPOS="871" VPOS="218" ID="st4-63"/></TextLine><TextLine HPOS="129" VPOS="254" ID="tl4-10" WIDTH="719" HEIGHT="28"><String HEIGHT="28" CONTENT="Mortgages" WIDTH="122" HPOS="129" VPOS="254" ID="st4-64"/><SP/><String HEIGHT="28" CONTENT="progressively" WIDTH="147" HPOS="263" VPOS="254" ID="st4-65"/><SP/><String HEIGHT="28" CONTENT="displaced" WIDTH="104" HPOS="422" VPOS="254" ID="st4-66"/><SP/><String HEIGHT="28" CONTENT="other" WIDTH="61" HPOS="537" VPOS="254" ID="st4-67"/><SP/><String HEIGHT="28" CONTENT="consumer" WIDTH="111" HPOS="609" VPOS="254" ID="st4-68"/><SP/><String HEIGHT="28" CONTENT="credit" WIDTH="65" HPOS="731" VPOS="254" ID="st4-69"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="807" VPOS="254" ID="st4-70"/></TextLine><TextLine HPOS="860" VPOS="260" ID="tl4-11" WIDTH="29" HEIGHT="14"><String HEIGHT="14" CONTENT="us" WIDTH="29" HPOS="860" VPOS="260" ID="st4-71"/></TextLine><TextLine HPOS="94" VPOS="286" ID="tl4-12" WIDTH="416" HEIGHT="28"><String HEIGHT="28" CONTENT="household" WIDTH="115" HPOS="94" VPOS="286" ID="st4-72"/><SP/><String HEIGHT="28" CONTENT="debt" WIDTH="49" HPOS="214" VPOS="286" ID="st4-73"/><SP/><String HEIGHT="28" CONTENT="reached" WIDTH="84" HPOS="268" VPOS="286" ID="st4-74"/><SP/><String HEIGHT="28" CONTENT="100" WIDTH="40" HPOS="357" VPOS="286" ID="st4-75"/><SP/><String HEIGHT="28" CONTENT="percent" WIDTH="81" HPOS="402" VPOS="286" ID="st4-76"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="22" HPOS="488" VPOS="286" ID="st4-77"/></TextLine><TextLine HPOS="515" VPOS="292" ID="tl4-13" WIDTH="47" HEIGHT="14"><String HEIGHT="14" CONTENT="gdp" WIDTH="47" HPOS="515" VPOS="292" ID="st4-78"/></TextLine><TextLine HPOS="567" VPOS="286" ID="tl4-14" WIDTH="322" HEIGHT="28"><String HEIGHT="28" CONTENT="by" WIDTH="27" HPOS="567" VPOS="286" ID="st4-79"/><SP/><String HEIGHT="28" CONTENT="2007" WIDTH="48" HPOS="599" VPOS="286" ID="st4-80"/><String HEIGHT="28" CONTENT="," WIDTH="13" HPOS="647" VPOS="286" ID="st4-81"/><SP/><String HEIGHT="28" CONTENT="up" WIDTH="29" HPOS="665" VPOS="286" ID="st4-82"/><SP/><String HEIGHT="28" CONTENT="from" WIDTH="54" HPOS="699" VPOS="286" ID="st4-83"/><SP/><String HEIGHT="28" CONTENT="61" WIDTH="22" HPOS="758" VPOS="286" ID="st4-84"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="780" VPOS="286" ID="st4-85"/><String HEIGHT="28" CONTENT="4" WIDTH="12" HPOS="791" VPOS="286" ID="st4-86"/><SP/><String HEIGHT="28" CONTENT="percent" WIDTH="81" HPOS="808" VPOS="286" ID="st4-87"/></TextLine><TextLine HPOS="94" VPOS="318" ID="tl4-15" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="94" VPOS="318" ID="st4-88"/><SP/><String HEIGHT="28" CONTENT="1997" WIDTH="44" HPOS="122" VPOS="318" ID="st4-89"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="166" VPOS="318" ID="st4-90"/><SP/><String HEIGHT="28" CONTENT="Household" WIDTH="125" HPOS="183" VPOS="318" ID="st4-91"/><SP/><String HEIGHT="28" CONTENT="debt" WIDTH="50" HPOS="314" VPOS="318" ID="st4-92"/><SP/><String HEIGHT="28" CONTENT="had" WIDTH="41" HPOS="370" VPOS="318" ID="st4-93"/><SP/><String HEIGHT="28" CONTENT="positively" WIDTH="107" HPOS="416" VPOS="318" ID="st4-94"/><SP/><String HEIGHT="28" CONTENT="leaped" WIDTH="71" HPOS="529" VPOS="318" ID="st4-95"/><SP/><String HEIGHT="28" CONTENT="upwards" WIDTH="94" HPOS="606" VPOS="318" ID="st4-96"/><SP/><String HEIGHT="28" CONTENT="after" WIDTH="50" HPOS="706" VPOS="318" ID="st4-97"/><SP/><String HEIGHT="28" CONTENT="1998" WIDTH="45" HPOS="762" VPOS="318" ID="st4-98"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="807" VPOS="318" ID="st4-99"/><SP/><String HEIGHT="28" CONTENT="With" WIDTH="52" HPOS="824" VPOS="318" ID="st4-100" SUBS_TYPE="HypPart1" SUBS_CONTENT="Without"/><HYP CONTENT="-" WIDTH="13" HPOS="876" VPOS="318" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="350" ID="tl4-16" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="out" WIDTH="38" HPOS="94" VPOS="350" ID="st4-101" SUBS_TYPE="HypPart2" SUBS_CONTENT="Without"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="140" VPOS="350" ID="st4-102"/><SP/><String HEIGHT="27" CONTENT="home" WIDTH="54" HPOS="183" VPOS="351" ID="st4-103"/><SP/><String HEIGHT="27" CONTENT="equity" WIDTH="62" HPOS="245" VPOS="351" ID="st4-104"/><SP/><String HEIGHT="27" CONTENT="extraction" WIDTH="103" HPOS="315" VPOS="351" ID="st4-105"/><SP/><String HEIGHT="28" CONTENT="made" WIDTH="60" HPOS="426" VPOS="350" ID="st4-106"/><SP/><String HEIGHT="28" CONTENT="possible" WIDTH="89" HPOS="494" VPOS="350" ID="st4-107"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="28" HPOS="591" VPOS="350" ID="st4-108"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="627" VPOS="350" ID="st4-109"/><SP/><String HEIGHT="28" CONTENT="constant" WIDTH="94" HPOS="670" VPOS="350" ID="st4-110"/><SP/><String HEIGHT="28" CONTENT="increase" WIDTH="87" HPOS="772" VPOS="350" ID="st4-111"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="867" VPOS="350" ID="st4-112"/></TextLine><TextLine HPOS="94" VPOS="381" ID="tl4-17" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="home" WIDTH="63" HPOS="94" VPOS="381" ID="st4-113"/><SP/><String HEIGHT="29" CONTENT="prices" WIDTH="64" HPOS="165" VPOS="381" ID="st4-114"/><SP/><String HEIGHT="29" CONTENT="between" WIDTH="92" HPOS="237" VPOS="381" ID="st4-115"/><SP/><String HEIGHT="29" CONTENT="1990" WIDTH="53" HPOS="336" VPOS="381" ID="st4-116"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="396" VPOS="381" ID="st4-117"/><SP/><String HEIGHT="29" CONTENT="2007" WIDTH="48" HPOS="445" VPOS="381" ID="st4-118"/><String HEIGHT="29" CONTENT="," WIDTH="13" HPOS="493" VPOS="381" ID="st4-119"/><SP/><String HEIGHT="29" CONTENT="which" WIDTH="68" HPOS="513" VPOS="381" ID="st4-120"/><SP/><String HEIGHT="29" CONTENT="represented" WIDTH="129" HPOS="588" VPOS="381" ID="st4-121"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="36" HPOS="724" VPOS="381" ID="st4-122"/><SP/><String HEIGHT="29" CONTENT="bulk" WIDTH="49" HPOS="767" VPOS="381" ID="st4-123"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="824" VPOS="381" ID="st4-124"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="854" VPOS="381" ID="st4-125"/></TextLine><TextLine HPOS="94" VPOS="413" ID="tl4-18" WIDTH="541" HEIGHT="29"><String HEIGHT="29" CONTENT="increase" WIDTH="88" HPOS="94" VPOS="413" ID="st4-126"/><SP/><String HEIGHT="29" CONTENT="in" WIDTH="22" HPOS="187" VPOS="413" ID="st4-127"/><SP/><String HEIGHT="29" CONTENT="consumption" WIDTH="148" HPOS="214" VPOS="413" ID="st4-128"/><SP/><String HEIGHT="29" CONTENT="between" WIDTH="92" HPOS="367" VPOS="413" ID="st4-129"/><SP/><String HEIGHT="29" CONTENT="2000" WIDTH="58" HPOS="465" VPOS="413" ID="st4-130"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="528" VPOS="413" ID="st4-131"/><SP/><String HEIGHT="29" CONTENT="2007" WIDTH="48" HPOS="575" VPOS="413" ID="st4-132"/><String HEIGHT="29" CONTENT="," WIDTH="12" HPOS="623" VPOS="413" ID="st4-133"/></TextLine><TextLine HPOS="641" VPOS="420" ID="tl4-19" WIDTH="29" HEIGHT="14"><String HEIGHT="14" CONTENT="us" WIDTH="29" HPOS="641" VPOS="420" ID="st4-134"/></TextLine><TextLine HPOS="675" VPOS="413" ID="tl4-20" WIDTH="214" HEIGHT="29"><String HEIGHT="29" CONTENT="growth" WIDTH="82" HPOS="675" VPOS="413" ID="st4-135"/><SP/><String HEIGHT="29" CONTENT="would" WIDTH="71" HPOS="762" VPOS="413" ID="st4-136"/><SP/><String HEIGHT="29" CONTENT="have" WIDTH="50" HPOS="839" VPOS="413" ID="st4-137"/></TextLine><TextLine HPOS="94" VPOS="445" ID="tl4-21" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="been" WIDTH="53" HPOS="94" VPOS="445" ID="st4-138"/><SP/><String HEIGHT="29" CONTENT="much" WIDTH="63" HPOS="152" VPOS="445" ID="st4-139"/><SP/><String HEIGHT="29" CONTENT="lower" WIDTH="63" HPOS="221" VPOS="445" ID="st4-140"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="289" VPOS="445" ID="st4-141"/><SP/><String HEIGHT="29" CONTENT="would" WIDTH="71" HPOS="336" VPOS="445" ID="st4-142"/><SP/><String HEIGHT="29" CONTENT="have" WIDTH="51" HPOS="412" VPOS="445" ID="st4-143"/><SP/><String HEIGHT="29" CONTENT="halted" WIDTH="68" HPOS="469" VPOS="445" ID="st4-144"/><SP/><String HEIGHT="29" CONTENT="in" WIDTH="22" HPOS="542" VPOS="445" ID="st4-145"/><SP/><String HEIGHT="29" CONTENT="2007" WIDTH="48" HPOS="570" VPOS="445" ID="st4-146"/><String HEIGHT="29" CONTENT="." WIDTH="13" HPOS="618" VPOS="445" ID="st4-147"/><SP/><String HEIGHT="29" CONTENT="Of" WIDTH="30" HPOS="636" VPOS="445" ID="st4-148"/><SP/><String HEIGHT="29" CONTENT="course" WIDTH="67" HPOS="672" VPOS="445" ID="st4-149"/><String HEIGHT="29" CONTENT="," WIDTH="12" HPOS="739" VPOS="445" ID="st4-150"/><SP/><String HEIGHT="29" CONTENT="cheap" WIDTH="63" HPOS="757" VPOS="445" ID="st4-151"/><SP/><String HEIGHT="29" CONTENT="credit" WIDTH="63" HPOS="826" VPOS="445" ID="st4-152"/></TextLine><TextLine HPOS="94" VPOS="477" ID="tl4-22" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="helped" WIDTH="74" HPOS="94" VPOS="477" ID="st4-153"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="23" HPOS="177" VPOS="477" ID="st4-154"/><SP/><String HEIGHT="29" CONTENT="boost" WIDTH="62" HPOS="209" VPOS="477" ID="st4-155"/><SP/><String HEIGHT="29" CONTENT="demand" WIDTH="89" HPOS="280" VPOS="477" ID="st4-156"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="378" VPOS="477" ID="st4-157"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="23" HPOS="428" VPOS="477" ID="st4-158"/><SP/><String HEIGHT="29" CONTENT="increase" WIDTH="87" HPOS="460" VPOS="477" ID="st4-159"/><SP/><String HEIGHT="29" CONTENT="home" WIDTH="63" HPOS="556" VPOS="477" ID="st4-160"/><SP/><String HEIGHT="29" CONTENT="prices" WIDTH="60" HPOS="628" VPOS="477" ID="st4-161"/><String HEIGHT="29" CONTENT="." WIDTH="11" HPOS="688" VPOS="477" ID="st4-162"/><SP/><String HEIGHT="29" CONTENT="The" WIDTH="44" HPOS="707" VPOS="477" ID="st4-163"/><SP/><String HEIGHT="29" CONTENT="rise" WIDTH="39" HPOS="759" VPOS="477" ID="st4-164"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="806" VPOS="477" ID="st4-165"/><SP/><String HEIGHT="29" CONTENT="asset" WIDTH="51" HPOS="838" VPOS="477" ID="st4-166"/></TextLine><TextLine HPOS="94" VPOS="509" ID="tl4-23" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="prices" WIDTH="64" HPOS="94" VPOS="509" ID="st4-167"/><SP/><String HEIGHT="29" CONTENT="enabled" WIDTH="86" HPOS="165" VPOS="509" ID="st4-168"/><SP/><String HEIGHT="29" CONTENT="households" WIDTH="126" HPOS="257" VPOS="509" ID="st4-169"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="23" HPOS="390" VPOS="509" ID="st4-170"/><SP/><String HEIGHT="29" CONTENT="borrow" WIDTH="83" HPOS="420" VPOS="509" ID="st4-171"/><SP/><String HEIGHT="29" CONTENT="more" WIDTH="58" HPOS="510" VPOS="509" ID="st4-172"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="575" VPOS="509" ID="st4-173"/><SP/><String HEIGHT="29" CONTENT="more" WIDTH="52" HPOS="623" VPOS="509" ID="st4-174"/><String HEIGHT="29" CONTENT="." WIDTH="13" HPOS="675" VPOS="509" ID="st4-175"/><SP/><String HEIGHT="29" CONTENT="At" WIDTH="28" HPOS="694" VPOS="509" ID="st4-176"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="728" VPOS="509" ID="st4-177"/><SP/><String HEIGHT="29" CONTENT="same" WIDTH="55" HPOS="770" VPOS="509" ID="st4-178"/><SP/><String HEIGHT="29" CONTENT="time" WIDTH="45" HPOS="832" VPOS="509" ID="st4-179"/><String HEIGHT="29" CONTENT="," WIDTH="12" HPOS="877" VPOS="509" ID="st4-180"/></TextLine><TextLine HPOS="94" VPOS="541" ID="tl4-24" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="household" WIDTH="116" HPOS="94" VPOS="541" ID="st4-181"/><SP/><String HEIGHT="28" CONTENT="savings" WIDTH="79" HPOS="218" VPOS="541" ID="st4-182"/><SP/><String HEIGHT="28" CONTENT="dived" WIDTH="61" HPOS="305" VPOS="541" ID="st4-183"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="373" VPOS="541" ID="st4-184"/><SP/><String HEIGHT="28" CONTENT="an" WIDTH="26" HPOS="404" VPOS="541" ID="st4-185"/><SP/><String HEIGHT="28" CONTENT="unprecedented" WIDTH="165" HPOS="437" VPOS="541" ID="st4-186"/><SP/><String HEIGHT="28" CONTENT="0" WIDTH="12" HPOS="609" VPOS="541" ID="st4-187"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="621" VPOS="541" ID="st4-188"/><String HEIGHT="28" CONTENT="4" WIDTH="13" HPOS="634" VPOS="541" ID="st4-189"/><SP/><String HEIGHT="28" CONTENT="percent" WIDTH="82" HPOS="654" VPOS="541" ID="st4-190"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="744" VPOS="541" ID="st4-191"/><SP/><String HEIGHT="28" CONTENT="disposable" WIDTH="115" HPOS="774" VPOS="541" ID="st4-192"/></TextLine><TextLine HPOS="94" VPOS="573" ID="tl4-25" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="income" WIDTH="82" HPOS="94" VPOS="573" ID="st4-193"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="185" VPOS="573" ID="st4-194"/><SP/><String HEIGHT="28" CONTENT="2007" WIDTH="48" HPOS="215" VPOS="573" ID="st4-195"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="263" VPOS="573" ID="st4-196"/><SP/><String HEIGHT="28" CONTENT="Nevertheless" WIDTH="136" HPOS="285" VPOS="573" ID="st4-197"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="421" VPOS="573" ID="st4-198"/><SP/><String HEIGHT="28" CONTENT="household" WIDTH="116" HPOS="442" VPOS="573" ID="st4-199"/><SP/><String HEIGHT="28" CONTENT="solvency" WIDTH="94" HPOS="567" VPOS="573" ID="st4-200"/><SP/><String HEIGHT="28" CONTENT="was" WIDTH="41" HPOS="670" VPOS="573" ID="st4-201"/><SP/><String HEIGHT="28" CONTENT="not" WIDTH="38" HPOS="720" VPOS="573" ID="st4-202"/><SP/><String HEIGHT="28" CONTENT="questioned" WIDTH="122" HPOS="767" VPOS="573" ID="st4-203"/></TextLine><TextLine HPOS="94" VPOS="605" ID="tl4-26" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="before" WIDTH="71" HPOS="94" VPOS="605" ID="st4-204"/><SP/><String HEIGHT="28" CONTENT="house" WIDTH="65" HPOS="174" VPOS="605" ID="st4-205"/><SP/><String HEIGHT="28" CONTENT="prices" WIDTH="64" HPOS="248" VPOS="605" ID="st4-206"/><SP/><String HEIGHT="28" CONTENT="began" WIDTH="67" HPOS="321" VPOS="605" ID="st4-207"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="397" VPOS="605" ID="st4-208"/><SP/><String HEIGHT="28" CONTENT="turn" WIDTH="48" HPOS="429" VPOS="605" ID="st4-209"/><SP/><String HEIGHT="28" CONTENT="down" WIDTH="57" HPOS="486" VPOS="605" ID="st4-210"/><String HEIGHT="28" CONTENT="." WIDTH="15" HPOS="543" VPOS="605" ID="st4-211"/><SP/><String HEIGHT="28" CONTENT="This" WIDTH="49" HPOS="566" VPOS="605" ID="st4-212"/><SP/><String HEIGHT="28" CONTENT="was" WIDTH="41" HPOS="624" VPOS="605" ID="st4-213"/><SP/><String HEIGHT="28" CONTENT="nothing" WIDTH="89" HPOS="674" VPOS="605" ID="st4-214"/><SP/><String HEIGHT="28" CONTENT="less" WIDTH="38" HPOS="772" VPOS="605" ID="st4-215"/><SP/><String HEIGHT="28" CONTENT="than" WIDTH="50" HPOS="819" VPOS="605" ID="st4-216"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="878" VPOS="605" ID="st4-217"/></TextLine><TextLine HPOS="94" VPOS="637" ID="tl4-27" WIDTH="443" HEIGHT="28"><String HEIGHT="28" CONTENT="massive" WIDTH="85" HPOS="94" VPOS="637" ID="st4-218"/><SP/><String HEIGHT="28" CONTENT="instance" WIDTH="89" HPOS="187" VPOS="637" ID="st4-219"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="284" VPOS="637" ID="st4-220"/><SP/><String HEIGHT="28" CONTENT="Ponzi" WIDTH="63" HPOS="315" VPOS="637" ID="st4-221"/><SP/><String HEIGHT="28" CONTENT="finance" WIDTH="80" HPOS="385" VPOS="637" ID="st4-222"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="472" VPOS="637" ID="st4-223"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="502" VPOS="637" ID="st4-224"/></TextLine><TextLine HPOS="545" VPOS="643" ID="tl4-28" WIDTH="29" HEIGHT="15"><String HEIGHT="15" CONTENT="us" WIDTH="29" HPOS="545" VPOS="643" ID="st4-225"/></TextLine><TextLine HPOS="582" VPOS="637" ID="tl4-29" WIDTH="212" HEIGHT="28"><String HEIGHT="28" CONTENT="economy" WIDTH="92" HPOS="582" VPOS="637" ID="st4-226"/><String HEIGHT="28" CONTENT="." WIDTH="14" HPOS="674" VPOS="637" ID="st4-227"/><SP/><String HEIGHT="28" CONTENT="By" WIDTH="29" HPOS="696" VPOS="637" ID="st4-228"/><SP/><String HEIGHT="28" CONTENT="2007" WIDTH="48" HPOS="733" VPOS="637" ID="st4-229"/><String HEIGHT="28" CONTENT="," WIDTH="13" HPOS="781" VPOS="637" ID="st4-230"/></TextLine><TextLine HPOS="802" VPOS="643" ID="tl4-30" WIDTH="29" HEIGHT="15"><String HEIGHT="15" CONTENT="us" WIDTH="29" HPOS="802" VPOS="643" ID="st4-231"/></TextLine><TextLine HPOS="839" VPOS="637" ID="tl4-31" WIDTH="50" HEIGHT="28"><String HEIGHT="28" CONTENT="total" WIDTH="50" HPOS="839" VPOS="637" ID="st4-232"/></TextLine><TextLine HPOS="94" VPOS="669" ID="tl4-32" WIDTH="550" HEIGHT="28"><String HEIGHT="28" CONTENT="savings" WIDTH="80" HPOS="94" VPOS="669" ID="st4-233"/><SP/><String HEIGHT="28" CONTENT="recorded" WIDTH="98" HPOS="184" VPOS="669" ID="st4-234"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="292" VPOS="669" ID="st4-235"/><SP/><String HEIGHT="28" CONTENT="record" WIDTH="72" HPOS="313" VPOS="669" ID="st4-236"/><SP/><String HEIGHT="28" CONTENT="low" WIDTH="42" HPOS="394" VPOS="669" ID="st4-237"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="445" VPOS="669" ID="st4-238"/><SP/><String HEIGHT="28" CONTENT="13" WIDTH="20" HPOS="478" VPOS="669" ID="st4-239"/><String HEIGHT="28" CONTENT="." WIDTH="10" HPOS="498" VPOS="669" ID="st4-240"/><String HEIGHT="28" CONTENT="6" WIDTH="11" HPOS="508" VPOS="669" ID="st4-241"/><SP/><String HEIGHT="28" CONTENT="percent" WIDTH="83" HPOS="529" VPOS="669" ID="st4-242"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="621" VPOS="669" ID="st4-243"/></TextLine><TextLine HPOS="653" VPOS="675" ID="tl4-33" WIDTH="48" HEIGHT="15"><String HEIGHT="15" CONTENT="gdp" WIDTH="48" HPOS="653" VPOS="675" ID="st4-244"/></TextLine><TextLine HPOS="701" VPOS="669" ID="tl4-34" WIDTH="188" HEIGHT="28"><String HEIGHT="28" CONTENT="," WIDTH="7" HPOS="701" VPOS="669" ID="st4-245"/><SP/><String HEIGHT="28" CONTENT="compared" WIDTH="111" HPOS="718" VPOS="669" ID="st4-246"/><SP/><String HEIGHT="28" CONTENT="with" WIDTH="51" HPOS="838" VPOS="669" ID="st4-247"/></TextLine><TextLine HPOS="94" VPOS="701" ID="tl4-35" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="23" WIDTH="21" HPOS="94" VPOS="701" ID="st4-248"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="115" VPOS="701" ID="st4-249"/><String HEIGHT="28" CONTENT="8" WIDTH="11" HPOS="126" VPOS="701" ID="st4-250"/><SP/><String HEIGHT="28" CONTENT="percent" WIDTH="82" HPOS="143" VPOS="701" ID="st4-251"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="231" VPOS="701" ID="st4-252"/><SP/><String HEIGHT="28" CONTENT="Germany" WIDTH="104" HPOS="259" VPOS="701" ID="st4-253"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="369" VPOS="701" ID="st4-254"/><SP/><String HEIGHT="28" CONTENT="20" WIDTH="22" HPOS="416" VPOS="701" ID="st4-255"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="438" VPOS="701" ID="st4-256"/><String HEIGHT="28" CONTENT="3" WIDTH="12" HPOS="449" VPOS="701" ID="st4-257"/><SP/><String HEIGHT="28" CONTENT="percent" WIDTH="82" HPOS="467" VPOS="701" ID="st4-258"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="555" VPOS="701" ID="st4-259"/><SP/><String HEIGHT="28" CONTENT="France" WIDTH="74" HPOS="583" VPOS="701" ID="st4-260"/><String HEIGHT="28" CONTENT="(" WIDTH="12" HPOS="663" VPOS="701" ID="st4-261"/><String HEIGHT="28" CONTENT="not" WIDTH="37" HPOS="675" VPOS="701" ID="st4-262"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="718" VPOS="701" ID="st4-263"/><SP/><String HEIGHT="28" CONTENT="mention" WIDTH="94" HPOS="747" VPOS="701" ID="st4-264"/><SP/><String HEIGHT="28" CONTENT="sav" WIDTH="32" HPOS="847" VPOS="701" ID="st4-265" SUBS_TYPE="HypPart1" SUBS_CONTENT="savings"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="701" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="733" ID="tl4-36" WIDTH="554" HEIGHT="28"><String HEIGHT="28" CONTENT="ings" WIDTH="46" HPOS="94" VPOS="733" ID="st4-266" SUBS_TYPE="HypPart2" SUBS_CONTENT="savings"/><SP/><String HEIGHT="28" CONTENT="rates" WIDTH="51" HPOS="146" VPOS="733" ID="st4-267"/><SP/><String HEIGHT="28" CONTENT="well" WIDTH="45" HPOS="204" VPOS="733" ID="st4-268"/><SP/><String HEIGHT="28" CONTENT="over" WIDTH="49" HPOS="256" VPOS="733" ID="st4-269"/><SP/><String HEIGHT="28" CONTENT="30" WIDTH="26" HPOS="311" VPOS="733" ID="st4-270"/><SP/><String HEIGHT="28" CONTENT="percent" WIDTH="82" HPOS="344" VPOS="733" ID="st4-271"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="433" VPOS="733" ID="st4-272"/><SP/><String HEIGHT="28" CONTENT="Asian" WIDTH="62" HPOS="461" VPOS="733" ID="st4-273"/><SP/><String HEIGHT="28" CONTENT="countries" WIDTH="97" HPOS="529" VPOS="733" ID="st4-274"/><String HEIGHT="28" CONTENT=")" WIDTH="11" HPOS="626" VPOS="733" ID="st4-275"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="637" VPOS="733" ID="st4-276"/></TextLine><TextLine HPOS="129" VPOS="765" ID="tl4-37" WIDTH="760" HEIGHT="28"><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="129" VPOS="765" ID="st4-277"/><SP/><String HEIGHT="28" CONTENT="consumption" WIDTH="138" HPOS="180" VPOS="765" ID="st4-278"/><String HEIGHT="28" CONTENT="-" WIDTH="13" HPOS="318" VPOS="765" ID="st4-279"/><String HEIGHT="28" CONTENT="led" WIDTH="38" HPOS="331" VPOS="765" ID="st4-280"/><SP/><String HEIGHT="28" CONTENT="growth" WIDTH="82" HPOS="375" VPOS="765" ID="st4-281"/><SP/><String HEIGHT="28" CONTENT="it" WIDTH="16" HPOS="464" VPOS="765" ID="st4-282"/><SP/><String HEIGHT="28" CONTENT="generated" WIDTH="104" HPOS="486" VPOS="765" ID="st4-283"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="590" VPOS="765" ID="st4-284"/><SP/><String HEIGHT="28" CONTENT="at" WIDTH="21" HPOS="608" VPOS="765" ID="st4-285"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="635" VPOS="765" ID="st4-286"/><SP/><String HEIGHT="28" CONTENT="time" WIDTH="50" HPOS="653" VPOS="765" ID="st4-287"/><SP/><String HEIGHT="28" CONTENT="when" WIDTH="61" HPOS="710" VPOS="765" ID="st4-288"/><SP/><String HEIGHT="28" CONTENT="labor" WIDTH="58" HPOS="777" VPOS="765" ID="st4-289"/><SP/><String HEIGHT="28" CONTENT="pro" WIDTH="36" HPOS="841" VPOS="765" ID="st4-290" SUBS_TYPE="HypPart1" SUBS_CONTENT="productivity"/><HYP CONTENT="-" WIDTH="12" HPOS="877" VPOS="765" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="797" ID="tl4-38" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="ductivity" WIDTH="97" HPOS="94" VPOS="797" ID="st4-291" SUBS_TYPE="HypPart2" SUBS_CONTENT="productivity"/><SP/><String HEIGHT="28" CONTENT="was" WIDTH="41" HPOS="199" VPOS="797" ID="st4-292"/><SP/><String HEIGHT="28" CONTENT="falling" WIDTH="67" HPOS="248" VPOS="797" ID="st4-293"/><String HEIGHT="28" CONTENT="," WIDTH="10" HPOS="315" VPOS="797" ID="st4-294"/><SP/><String HEIGHT="28" CONTENT="explained" WIDTH="105" HPOS="333" VPOS="797" ID="st4-295"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="447" VPOS="797" ID="st4-296"/><SP/><String HEIGHT="28" CONTENT="huge" WIDTH="55" HPOS="490" VPOS="797" ID="st4-297"/><SP/><String HEIGHT="28" CONTENT="current" WIDTH="81" HPOS="553" VPOS="797" ID="st4-298"/><String HEIGHT="28" CONTENT="-" WIDTH="12" HPOS="634" VPOS="797" ID="st4-299"/><String HEIGHT="28" CONTENT="account" WIDTH="82" HPOS="646" VPOS="797" ID="st4-300"/><SP/><String HEIGHT="28" CONTENT="deficit" WIDTH="69" HPOS="736" VPOS="797" ID="st4-301"/><SP/><String HEIGHT="28" CONTENT="experi" WIDTH="66" HPOS="813" VPOS="797" ID="st4-302" SUBS_TYPE="HypPart1" SUBS_CONTENT="experienced"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="797" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="829" ID="tl4-39" WIDTH="143" HEIGHT="28"><String HEIGHT="28" CONTENT="enced" WIDTH="64" HPOS="94" VPOS="829" ID="st4-303" SUBS_TYPE="HypPart2" SUBS_CONTENT="experienced"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="28" HPOS="166" VPOS="829" ID="st4-304"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="202" VPOS="829" ID="st4-305"/></TextLine><TextLine HPOS="245" VPOS="835" ID="tl4-40" WIDTH="44" HEIGHT="14"><String HEIGHT="14" CONTENT="usa" WIDTH="44" HPOS="245" VPOS="835" ID="st4-306"/></TextLine><TextLine HPOS="297" VPOS="829" ID="tl4-41" WIDTH="283" HEIGHT="28"><String HEIGHT="28" CONTENT="from" WIDTH="55" HPOS="297" VPOS="829" ID="st4-307"/><SP/><String HEIGHT="28" CONTENT="2000" WIDTH="58" HPOS="360" VPOS="829" ID="st4-308"/><SP/><String HEIGHT="28" CONTENT="onwards" WIDTH="88" HPOS="427" VPOS="829" ID="st4-309"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="515" VPOS="829" ID="st4-310"/><SP/><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="536" VPOS="829" ID="st4-311"/></TextLine><TextLine HPOS="588" VPOS="835" ID="tl4-42" WIDTH="29" HEIGHT="14"><String HEIGHT="14" CONTENT="us" WIDTH="29" HPOS="588" VPOS="835" ID="st4-312"/></TextLine><TextLine HPOS="626" VPOS="829" ID="tl4-43" WIDTH="263" HEIGHT="28"><String HEIGHT="28" CONTENT="trade" WIDTH="56" HPOS="626" VPOS="829" ID="st4-313"/><SP/><String HEIGHT="28" CONTENT="deficit" WIDTH="69" HPOS="690" VPOS="829" ID="st4-314"/><SP/><String HEIGHT="28" CONTENT="literally" WIDTH="82" HPOS="768" VPOS="829" ID="st4-315"/><SP/><String HEIGHT="28" CONTENT="ex" WIDTH="21" HPOS="858" VPOS="829" ID="st4-316" SUBS_TYPE="HypPart1" SUBS_CONTENT="exploded"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="829" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="861" ID="tl4-44" WIDTH="473" HEIGHT="28"><String HEIGHT="28" CONTENT="ploded" WIDTH="72" HPOS="94" VPOS="861" ID="st4-317" SUBS_TYPE="HypPart2" SUBS_CONTENT="exploded"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="166" VPOS="861" ID="st4-318"/><SP/><String HEIGHT="28" CONTENT="reaching" WIDTH="93" HPOS="183" VPOS="861" ID="st4-319"/><SP/><String HEIGHT="28" CONTENT="an" WIDTH="26" HPOS="282" VPOS="861" ID="st4-320"/><SP/><String HEIGHT="28" CONTENT="average" WIDTH="82" HPOS="313" VPOS="861" ID="st4-321"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="22" HPOS="400" VPOS="861" ID="st4-322"/><SP/><String HEIGHT="28" CONTENT="5" WIDTH="8" HPOS="427" VPOS="861" ID="st4-323"/><String HEIGHT="28" CONTENT="." WIDTH="9" HPOS="435" VPOS="861" ID="st4-324"/><String HEIGHT="28" CONTENT="5" WIDTH="9" HPOS="444" VPOS="861" ID="st4-325"/><SP/><String HEIGHT="28" CONTENT="percent" WIDTH="81" HPOS="458" VPOS="861" ID="st4-326"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="544" VPOS="861" ID="st4-327"/></TextLine><TextLine HPOS="572" VPOS="867" ID="tl4-45" WIDTH="47" HEIGHT="14"><String HEIGHT="14" CONTENT="gdp" WIDTH="47" HPOS="572" VPOS="867" ID="st4-328"/></TextLine><TextLine HPOS="624" VPOS="861" ID="tl4-46" WIDTH="265" HEIGHT="28"><String HEIGHT="28" CONTENT="between" WIDTH="92" HPOS="624" VPOS="861" ID="st4-329"/><SP/><String HEIGHT="28" CONTENT="2004" WIDTH="57" HPOS="721" VPOS="861" ID="st4-330"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="783" VPOS="861" ID="st4-331"/><SP/><String HEIGHT="28" CONTENT="2007" WIDTH="48" HPOS="829" VPOS="861" ID="st4-332"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="877" VPOS="861" ID="st4-333"/></TextLine><TextLine HPOS="94" VPOS="893" ID="tl4-47" WIDTH="440" HEIGHT="28"><String HEIGHT="28" CONTENT="Asian" WIDTH="61" HPOS="94" VPOS="893" ID="st4-334"/><SP/><String HEIGHT="28" CONTENT="countries" WIDTH="102" HPOS="160" VPOS="893" ID="st4-335"/><SP/><String HEIGHT="28" CONTENT="used" WIDTH="51" HPOS="267" VPOS="893" ID="st4-336"/><SP/><String HEIGHT="28" CONTENT="their" WIDTH="52" HPOS="323" VPOS="893" ID="st4-337"/><SP/><String HEIGHT="28" CONTENT="surplus" WIDTH="79" HPOS="380" VPOS="893" ID="st4-338"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="24" HPOS="464" VPOS="893" ID="st4-339"/><SP/><String HEIGHT="28" CONTENT="buy" WIDTH="41" HPOS="493" VPOS="893" ID="st4-340"/></TextLine><TextLine HPOS="539" VPOS="899" ID="tl4-48" WIDTH="30" HEIGHT="14"><String HEIGHT="14" CONTENT="us" WIDTH="30" HPOS="539" VPOS="899" ID="st4-341"/></TextLine><TextLine HPOS="574" VPOS="893" ID="tl4-49" WIDTH="315" HEIGHT="28"><String HEIGHT="28" CONTENT="debts" WIDTH="59" HPOS="574" VPOS="893" ID="st4-342"/><SP/><String HEIGHT="28" CONTENT="on" WIDTH="29" HPOS="638" VPOS="893" ID="st4-343"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="672" VPOS="893" ID="st4-344"/><SP/><String HEIGHT="28" CONTENT="massive" WIDTH="84" HPOS="689" VPOS="893" ID="st4-345"/><SP/><String HEIGHT="28" CONTENT="scale" WIDTH="48" HPOS="778" VPOS="893" ID="st4-346"/><String HEIGHT="28" CONTENT="." WIDTH="10" HPOS="826" VPOS="893" ID="st4-347"/><SP/><String HEIGHT="28" CONTENT="This" WIDTH="48" HPOS="841" VPOS="893" ID="st4-348"/></TextLine><TextLine HPOS="94" VPOS="925" ID="tl4-50" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="double" WIDTH="77" HPOS="94" VPOS="925" ID="st4-349"/><SP/><String HEIGHT="28" CONTENT="disequilibrium" WIDTH="162" HPOS="180" VPOS="925" ID="st4-350"/><SP/><String HEIGHT="28" CONTENT="has" WIDTH="36" HPOS="351" VPOS="925" ID="st4-351"/><SP/><String HEIGHT="28" CONTENT="somewhat" WIDTH="113" HPOS="396" VPOS="925" ID="st4-352"/><SP/><String HEIGHT="28" CONTENT="inaccurately" WIDTH="132" HPOS="518" VPOS="925" ID="st4-353"/><SP/><String HEIGHT="28" CONTENT="been" WIDTH="53" HPOS="658" VPOS="925" ID="st4-354"/><SP/><String HEIGHT="28" CONTENT="called" WIDTH="62" HPOS="720" VPOS="925" ID="st4-355"/><String HEIGHT="28" CONTENT="»" WIDTH="12" HPOS="791" VPOS="925" ID="st4-356"/><String HEIGHT="28" CONTENT="Bretton" WIDTH="86" HPOS="803" VPOS="925" ID="st4-357"/></TextLine><TextLine HPOS="94" VPOS="978" ID="tl4-51" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="8" WIDTH="8" HPOS="94" VPOS="978" ID="st4-358"/><String HEIGHT="24" CONTENT="." WIDTH="8" HPOS="102" VPOS="978" ID="st4-359"/><SP/><String HEIGHT="24" CONTENT="The" WIDTH="37" HPOS="129" VPOS="978" ID="st4-360"/><SP/><String HEIGHT="24" CONTENT="last" WIDTH="31" HPOS="171" VPOS="978" ID="st4-361"/><SP/><String HEIGHT="24" CONTENT="step" WIDTH="38" HPOS="206" VPOS="978" ID="st4-362"/><SP/><String HEIGHT="24" CONTENT="being" WIDTH="52" HPOS="249" VPOS="978" ID="st4-363"/><SP/><String HEIGHT="24" CONTENT="the" WIDTH="29" HPOS="306" VPOS="978" ID="st4-364"/><SP/><String HEIGHT="24" CONTENT="Gramm" WIDTH="53" HPOS="340" VPOS="978" ID="st4-365"/><String HEIGHT="24" CONTENT="-" WIDTH="11" HPOS="393" VPOS="978" ID="st4-366"/><String HEIGHT="24" CONTENT="Leach" WIDTH="54" HPOS="404" VPOS="978" ID="st4-367"/><String HEIGHT="24" CONTENT="-" WIDTH="11" HPOS="458" VPOS="978" ID="st4-368"/><String HEIGHT="24" CONTENT="Bliley" WIDTH="65" HPOS="469" VPOS="978" ID="st4-369"/><SP/><String HEIGHT="24" CONTENT="Act" WIDTH="32" HPOS="538" VPOS="978" ID="st4-370"/><SP/><String HEIGHT="24" CONTENT="of" WIDTH="19" HPOS="575" VPOS="978" ID="st4-371"/><SP/><String HEIGHT="24" CONTENT="1999" WIDTH="39" HPOS="599" VPOS="978" ID="st4-372"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="638" VPOS="978" ID="st4-373"/><SP/><String HEIGHT="24" CONTENT="implemented" WIDTH="124" HPOS="652" VPOS="978" ID="st4-374"/><SP/><String HEIGHT="24" CONTENT="by" WIDTH="23" HPOS="780" VPOS="978" ID="st4-375"/><SP/><String HEIGHT="24" CONTENT="the" WIDTH="29" HPOS="808" VPOS="978" ID="st4-376"/><SP/><String HEIGHT="24" CONTENT="Clin" WIDTH="38" HPOS="842" VPOS="978" ID="st4-377" SUBS_TYPE="HypPart1" SUBS_CONTENT="Clinton"/><HYP CONTENT="-" WIDTH="9" HPOS="880" VPOS="978" HEIGHT="24"/></TextLine><TextLine HPOS="129" VPOS="1006" ID="tl4-52" WIDTH="181" HEIGHT="24"><String HEIGHT="24" CONTENT="ton" WIDTH="33" HPOS="129" VPOS="1006" ID="st4-378" SUBS_TYPE="HypPart2" SUBS_CONTENT="Clinton"/><SP/><String HEIGHT="24" CONTENT="administration" WIDTH="133" HPOS="167" VPOS="1006" ID="st4-379"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="300" VPOS="1006" ID="st4-380"/></TextLine><TextLine HPOS="94" VPOS="1034" ID="tl4-53" WIDTH="18" HEIGHT="23"><String HEIGHT="23" CONTENT="9" WIDTH="9" HPOS="94" VPOS="1034" ID="st4-381"/><String HEIGHT="23" CONTENT="." WIDTH="9" HPOS="103" VPOS="1034" ID="st4-382"/></TextLine><TextLine HPOS="129" VPOS="1039" ID="tl4-54" WIDTH="19" HEIGHT="12"><String HEIGHT="12" CONTENT="jp" WIDTH="19" HPOS="129" VPOS="1039" ID="st4-383"/></TextLine><TextLine HPOS="155" VPOS="1034" ID="tl4-55" WIDTH="734" HEIGHT="23"><String HEIGHT="23" CONTENT="Morgan" WIDTH="76" HPOS="155" VPOS="1034" ID="st4-384"/><SP/><String HEIGHT="23" CONTENT="Credit" WIDTH="60" HPOS="237" VPOS="1034" ID="st4-385"/><SP/><String HEIGHT="23" CONTENT="Derivatives" WIDTH="105" HPOS="303" VPOS="1034" ID="st4-386"/><SP/><String HEIGHT="23" CONTENT="and" WIDTH="34" HPOS="414" VPOS="1034" ID="st4-387"/><SP/><String HEIGHT="23" CONTENT="Quantitative" WIDTH="118" HPOS="454" VPOS="1034" ID="st4-388"/><SP/><String HEIGHT="23" CONTENT="Research" WIDTH="84" HPOS="578" VPOS="1034" ID="st4-389"/><String HEIGHT="23" CONTENT="(" WIDTH="9" HPOS="668" VPOS="1034" ID="st4-390"/><String HEIGHT="23" CONTENT="2005" WIDTH="40" HPOS="677" VPOS="1034" ID="st4-391"/><String HEIGHT="23" CONTENT=")" WIDTH="10" HPOS="717" VPOS="1034" ID="st4-392"/><String HEIGHT="23" CONTENT=":" WIDTH="10" HPOS="727" VPOS="1034" ID="st4-393"/><String HEIGHT="23" CONTENT="»" WIDTH="10" HPOS="742" VPOS="1034" ID="st4-394"/><String HEIGHT="23" CONTENT="Credit" WIDTH="61" HPOS="752" VPOS="1034" ID="st4-395"/><SP/><String HEIGHT="23" CONTENT="Deriva" WIDTH="60" HPOS="819" VPOS="1034" ID="st4-396" SUBS_TYPE="HypPart1" SUBS_CONTENT="Derivatives"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="1034" HEIGHT="23"/></TextLine><TextLine HPOS="129" VPOS="1061" ID="tl4-56" WIDTH="157" HEIGHT="24"><String HEIGHT="24" CONTENT="tives" WIDTH="41" HPOS="129" VPOS="1061" ID="st4-397" SUBS_TYPE="HypPart2" SUBS_CONTENT="Derivatives"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="170" VPOS="1061" ID="st4-398"/><SP/><String HEIGHT="24" CONTENT="A" WIDTH="15" HPOS="186" VPOS="1061" ID="st4-399"/><SP/><String HEIGHT="24" CONTENT="Primer," WIDTH="68" HPOS="208" VPOS="1061" ID="st4-400"/><String HEIGHT="24" CONTENT="«" WIDTH="10" HPOS="276" VPOS="1061" ID="st4-401"/></TextLine><TextLine HPOS="293" VPOS="1067" ID="tl4-57" WIDTH="19" HEIGHT="12"><String HEIGHT="12" CONTENT="jp" WIDTH="19" HPOS="293" VPOS="1067" ID="st4-402"/></TextLine><TextLine HPOS="319" VPOS="1061" ID="tl4-58" WIDTH="570" HEIGHT="24"><String HEIGHT="24" CONTENT="Morgan" WIDTH="70" HPOS="319" VPOS="1061" ID="st4-403"/><String HEIGHT="24" CONTENT="," WIDTH="12" HPOS="389" VPOS="1061" ID="st4-404"/><SP/><String HEIGHT="24" CONTENT="New" WIDTH="45" HPOS="408" VPOS="1061" ID="st4-405"/><SP/><String HEIGHT="24" CONTENT="York" WIDTH="44" HPOS="460" VPOS="1061" ID="st4-406"/><String HEIGHT="24" CONTENT="(" WIDTH="9" HPOS="511" VPOS="1061" ID="st4-407"/><String HEIGHT="24" CONTENT="January" WIDTH="67" HPOS="520" VPOS="1061" ID="st4-408"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="587" VPOS="1061" ID="st4-409"/><String HEIGHT="24" CONTENT=";" WIDTH="10" HPOS="597" VPOS="1061" ID="st4-410"/><SP/><String HEIGHT="24" CONTENT="Ashcraft" WIDTH="74" HPOS="613" VPOS="1061" ID="st4-411"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="687" VPOS="1061" ID="st4-412"/><SP/><String HEIGHT="24" CONTENT="A" WIDTH="10" HPOS="703" VPOS="1061" ID="st4-413"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="713" VPOS="1061" ID="st4-414"/><String HEIGHT="24" CONTENT="B" WIDTH="10" HPOS="724" VPOS="1061" ID="st4-415"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="734" VPOS="1061" ID="st4-416"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="35" HPOS="752" VPOS="1061" ID="st4-417"/><SP/><String HEIGHT="24" CONTENT="T" WIDTH="9" HPOS="793" VPOS="1061" ID="st4-418"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="802" VPOS="1061" ID="st4-419"/><SP/><String HEIGHT="24" CONTENT="Schuer" WIDTH="61" HPOS="818" VPOS="1061" ID="st4-420" SUBS_TYPE="HypPart1" SUBS_CONTENT="Schuermann"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="1061" HEIGHT="24"/></TextLine><TextLine HPOS="129" VPOS="1089" ID="tl4-59" WIDTH="761" HEIGHT="24"><String HEIGHT="24" CONTENT="mann" WIDTH="54" HPOS="129" VPOS="1089" ID="st4-421" SUBS_TYPE="HypPart2" SUBS_CONTENT="Schuermann"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="188" VPOS="1089" ID="st4-422"/><String HEIGHT="24" CONTENT="2007" WIDTH="40" HPOS="198" VPOS="1089" ID="st4-423"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="238" VPOS="1089" ID="st4-424"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="248" VPOS="1089" ID="st4-425"/><String HEIGHT="24" CONTENT="»" WIDTH="10" HPOS="265" VPOS="1089" ID="st4-426"/><String HEIGHT="24" CONTENT="Understanding" WIDTH="141" HPOS="275" VPOS="1089" ID="st4-427"/><SP/><String HEIGHT="24" CONTENT="the" WIDTH="30" HPOS="422" VPOS="1089" ID="st4-428"/><SP/><String HEIGHT="24" CONTENT="Securitization" WIDTH="130" HPOS="457" VPOS="1089" ID="st4-429"/><SP/><String HEIGHT="24" CONTENT="of" WIDTH="19" HPOS="593" VPOS="1089" ID="st4-430"/><SP/><String HEIGHT="24" CONTENT="Subprime" WIDTH="92" HPOS="618" VPOS="1089" ID="st4-431"/><SP/><String HEIGHT="24" CONTENT="Mortgage" WIDTH="93" HPOS="715" VPOS="1089" ID="st4-432"/><SP/><String HEIGHT="24" CONTENT="Credit," WIDTH="66" HPOS="814" VPOS="1089" ID="st4-433"/><String HEIGHT="24" CONTENT="«" WIDTH="10" HPOS="880" VPOS="1089" ID="st4-434"/></TextLine><TextLine HPOS="129" VPOS="1122" ID="tl4-60" WIDTH="33" HEIGHT="12"><String HEIGHT="12" CONTENT="fic" WIDTH="33" HPOS="129" VPOS="1122" ID="st4-435"/></TextLine><TextLine HPOS="169" VPOS="1117" ID="tl4-61" WIDTH="720" HEIGHT="24"><String HEIGHT="24" CONTENT="Working" WIDTH="82" HPOS="169" VPOS="1117" ID="st4-436"/><SP/><String HEIGHT="24" CONTENT="Paper" WIDTH="53" HPOS="258" VPOS="1117" ID="st4-437"/><SP/><String HEIGHT="24" CONTENT="No" WIDTH="24" HPOS="318" VPOS="1117" ID="st4-438"/><String HEIGHT="24" CONTENT="." WIDTH="13" HPOS="342" VPOS="1117" ID="st4-439"/><SP/><String HEIGHT="24" CONTENT="07–43" WIDTH="51" HPOS="362" VPOS="1117" ID="st4-440"/><String HEIGHT="24" CONTENT="," WIDTH="11" HPOS="413" VPOS="1117" ID="st4-441"/><SP/><String HEIGHT="24" CONTENT="Wharton" WIDTH="84" HPOS="431" VPOS="1117" ID="st4-442"/><SP/><String HEIGHT="24" CONTENT="Financial" WIDTH="84" HPOS="523" VPOS="1117" ID="st4-443"/><SP/><String HEIGHT="24" CONTENT="Institutions" WIDTH="109" HPOS="615" VPOS="1117" ID="st4-444"/><SP/><String HEIGHT="24" CONTENT="Center" WIDTH="58" HPOS="731" VPOS="1117" ID="st4-445"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="789" VPOS="1117" ID="st4-446"/><SP/><String HEIGHT="24" CONTENT="Philadel" WIDTH="74" HPOS="806" VPOS="1117" ID="st4-447" SUBS_TYPE="HypPart1" SUBS_CONTENT="Philadelphia"/><HYP CONTENT="-" WIDTH="9" HPOS="880" VPOS="1117" HEIGHT="24"/></TextLine><TextLine HPOS="129" VPOS="1145" ID="tl4-62" WIDTH="47" HEIGHT="24"><String HEIGHT="24" CONTENT="phia" WIDTH="37" HPOS="129" VPOS="1145" ID="st4-448" SUBS_TYPE="HypPart2" SUBS_CONTENT="Philadelphia"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="166" VPOS="1145" ID="st4-449"/></TextLine><TextLine HPOS="182" VPOS="1150" ID="tl4-63" WIDTH="22" HEIGHT="12"><String HEIGHT="12" CONTENT="pa" WIDTH="22" HPOS="182" VPOS="1150" ID="st4-450"/></TextLine><TextLine HPOS="204" VPOS="1145" ID="tl4-64" WIDTH="7" HEIGHT="24"><String HEIGHT="24" CONTENT="." WIDTH="7" HPOS="204" VPOS="1145" ID="st4-451"/></TextLine><TextLine HPOS="94" VPOS="1173" ID="tl4-65" WIDTH="27" HEIGHT="23"><String HEIGHT="23" CONTENT="10" WIDTH="18" HPOS="94" VPOS="1173" ID="st4-452"/><String HEIGHT="23" CONTENT="." WIDTH="9" HPOS="112" VPOS="1173" ID="st4-453"/></TextLine><TextLine HPOS="129" VPOS="1178" ID="tl4-66" WIDTH="25" HEIGHT="12"><String HEIGHT="12" CONTENT="us" WIDTH="25" HPOS="129" VPOS="1178" ID="st4-454"/></TextLine><TextLine HPOS="160" VPOS="1173" ID="tl4-67" WIDTH="729" HEIGHT="23"><String HEIGHT="23" CONTENT="Congress" WIDTH="87" HPOS="160" VPOS="1173" ID="st4-455"/><String HEIGHT="23" CONTENT="(" WIDTH="10" HPOS="253" VPOS="1173" ID="st4-456"/><String HEIGHT="23" CONTENT="2007" WIDTH="41" HPOS="263" VPOS="1173" ID="st4-457"/><String HEIGHT="23" CONTENT=")" WIDTH="10" HPOS="304" VPOS="1173" ID="st4-458"/><String HEIGHT="23" CONTENT=":" WIDTH="11" HPOS="314" VPOS="1173" ID="st4-459"/><SP/><String HEIGHT="22" CONTENT="The" WIDTH="33" HPOS="331" VPOS="1174" ID="st4-460"/><SP/><String HEIGHT="22" CONTENT="Subprime" WIDTH="84" HPOS="370" VPOS="1174" ID="st4-461"/><SP/><String HEIGHT="22" CONTENT="Lending" WIDTH="74" HPOS="460" VPOS="1174" ID="st4-462"/><SP/><String HEIGHT="22" CONTENT="Crisis" WIDTH="47" HPOS="540" VPOS="1174" ID="st4-463"/><String HEIGHT="22" CONTENT="," WIDTH="8" HPOS="587" VPOS="1174" ID="st4-464"/><SP/><String HEIGHT="23" CONTENT="Report" WIDTH="66" HPOS="602" VPOS="1173" ID="st4-465"/><SP/><String HEIGHT="23" CONTENT="and" WIDTH="35" HPOS="674" VPOS="1173" ID="st4-466"/><SP/><String HEIGHT="23" CONTENT="recommendations" WIDTH="163" HPOS="715" VPOS="1173" ID="st4-467"/><String HEIGHT="23" CONTENT="," WIDTH="11" HPOS="878" VPOS="1173" ID="st4-468"/></TextLine><TextLine HPOS="129" VPOS="1206" ID="tl4-68" WIDTH="25" HEIGHT="12"><String HEIGHT="12" CONTENT="us" WIDTH="25" HPOS="129" VPOS="1206" ID="st4-469"/></TextLine><TextLine HPOS="154" VPOS="1200" ID="tl4-69" WIDTH="7" HEIGHT="24"><String HEIGHT="24" CONTENT="" WIDTH="0" HPOS="154" VPOS="1200" ID="st4-470" SUBS_TYPE="HypPart1" SUBS_CONTENT="gpo"/><HYP CONTENT="-" WIDTH="7" HPOS="154" VPOS="1200" HEIGHT="24"/></TextLine><TextLine HPOS="161" VPOS="1206" ID="tl4-70" WIDTH="40" HEIGHT="12"><String HEIGHT="12" CONTENT="gpo" WIDTH="40" HPOS="161" VPOS="1206" ID="st4-471" SUBS_TYPE="HypPart2" SUBS_CONTENT="gpo"/></TextLine><TextLine HPOS="201" VPOS="1200" ID="tl4-71" WIDTH="128" HEIGHT="24"><String HEIGHT="24" CONTENT="," WIDTH="6" HPOS="201" VPOS="1200" ID="st4-472"/><SP/><String HEIGHT="24" CONTENT="Washington" WIDTH="107" HPOS="211" VPOS="1200" ID="st4-473"/><String HEIGHT="24" CONTENT="," WIDTH="11" HPOS="318" VPOS="1200" ID="st4-474"/></TextLine><TextLine HPOS="333" VPOS="1206" ID="tl4-72" WIDTH="27" HEIGHT="12"><String HEIGHT="12" CONTENT="dc" WIDTH="27" HPOS="333" VPOS="1206" ID="st4-475"/></TextLine><TextLine HPOS="365" VPOS="1200" ID="tl4-73" WIDTH="524" HEIGHT="24"><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="365" VPOS="1200" ID="st4-476"/><String HEIGHT="24" CONTENT="October" WIDTH="70" HPOS="375" VPOS="1200" ID="st4-477"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="445" VPOS="1200" ID="st4-478"/><String HEIGHT="24" CONTENT=";" WIDTH="11" HPOS="455" VPOS="1200" ID="st4-479"/><SP/><String HEIGHT="24" CONTENT="see" WIDTH="27" HPOS="471" VPOS="1200" ID="st4-480"/><SP/><String HEIGHT="24" CONTENT="also" WIDTH="35" HPOS="503" VPOS="1200" ID="st4-481"/><SP/><String HEIGHT="24" CONTENT="Li" WIDTH="17" HPOS="543" VPOS="1200" ID="st4-482"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="560" VPOS="1200" ID="st4-483"/><SP/><String HEIGHT="24" CONTENT="W" WIDTH="12" HPOS="573" VPOS="1200" ID="st4-484"/><String HEIGHT="24" CONTENT="." WIDTH="13" HPOS="585" VPOS="1200" ID="st4-485"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="34" HPOS="602" VPOS="1200" ID="st4-486"/><SP/><String HEIGHT="24" CONTENT="K" WIDTH="11" HPOS="641" VPOS="1200" ID="st4-487"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="652" VPOS="1200" ID="st4-488"/><SP/><String HEIGHT="24" CONTENT="Ernst" WIDTH="51" HPOS="667" VPOS="1200" ID="st4-489"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="722" VPOS="1200" ID="st4-490"/><String HEIGHT="24" CONTENT="2006" WIDTH="41" HPOS="732" VPOS="1200" ID="st4-491"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="773" VPOS="1200" ID="st4-492"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="783" VPOS="1200" ID="st4-493"/><String HEIGHT="24" CONTENT="»" WIDTH="13" HPOS="798" VPOS="1200" ID="st4-494"/><String HEIGHT="24" CONTENT="Do" WIDTH="28" HPOS="811" VPOS="1200" ID="st4-495"/><SP/><String HEIGHT="24" CONTENT="State" WIDTH="46" HPOS="843" VPOS="1200" ID="st4-496"/></TextLine><TextLine HPOS="129" VPOS="1228" ID="tl4-74" WIDTH="760" HEIGHT="24"><String HEIGHT="24" CONTENT="Predatory" WIDTH="92" HPOS="129" VPOS="1228" ID="st4-497"/><SP/><String HEIGHT="24" CONTENT="Home" WIDTH="61" HPOS="226" VPOS="1228" ID="st4-498"/><SP/><String HEIGHT="24" CONTENT="Lending" WIDTH="79" HPOS="291" VPOS="1228" ID="st4-499"/><SP/><String HEIGHT="24" CONTENT="Laws" WIDTH="49" HPOS="375" VPOS="1228" ID="st4-500"/><SP/><String HEIGHT="24" CONTENT="Work" WIDTH="43" HPOS="428" VPOS="1228" ID="st4-501"/><String HEIGHT="24" CONTENT="?" WIDTH="11" HPOS="471" VPOS="1228" ID="st4-502"/><String HEIGHT="24" CONTENT="," WIDTH="11" HPOS="482" VPOS="1228" ID="st4-503"/><String HEIGHT="24" CONTENT="«" WIDTH="11" HPOS="493" VPOS="1228" ID="st4-504"/><SP/><String HEIGHT="24" CONTENT="Center" WIDTH="63" HPOS="509" VPOS="1228" ID="st4-505"/><SP/><String HEIGHT="24" CONTENT="for" WIDTH="28" HPOS="577" VPOS="1228" ID="st4-506"/><SP/><String HEIGHT="24" CONTENT="Responsible" WIDTH="114" HPOS="609" VPOS="1228" ID="st4-507"/><SP/><String HEIGHT="24" CONTENT="Lending" WIDTH="79" HPOS="727" VPOS="1228" ID="st4-508"/><SP/><String HEIGHT="24" CONTENT="working" WIDTH="78" HPOS="811" VPOS="1228" ID="st4-509"/></TextLine><TextLine HPOS="129" VPOS="1256" ID="tl4-75" WIDTH="760" HEIGHT="24"><String HEIGHT="24" CONTENT="paper" WIDTH="50" HPOS="129" VPOS="1256" ID="st4-510"/><String HEIGHT="24" CONTENT=";" WIDTH="10" HPOS="179" VPOS="1256" ID="st4-511"/><SP/><String HEIGHT="24" CONTENT="Bostic" WIDTH="54" HPOS="193" VPOS="1256" ID="st4-512"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="247" VPOS="1256" ID="st4-513"/><SP/><String HEIGHT="24" CONTENT="R" WIDTH="11" HPOS="262" VPOS="1256" ID="st4-514"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="273" VPOS="1256" ID="st4-515"/><SP/><String HEIGHT="24" CONTENT="et" WIDTH="17" HPOS="289" VPOS="1256" ID="st4-516"/><SP/><String HEIGHT="24" CONTENT="al" WIDTH="14" HPOS="309" VPOS="1256" ID="st4-517"/><String HEIGHT="24" CONTENT="." WIDTH="8" HPOS="323" VPOS="1256" ID="st4-518"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="335" VPOS="1256" ID="st4-519"/><String HEIGHT="24" CONTENT="2007" WIDTH="40" HPOS="345" VPOS="1256" ID="st4-520"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="385" VPOS="1256" ID="st4-521"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="395" VPOS="1256" ID="st4-522"/><String HEIGHT="24" CONTENT="»" WIDTH="9" HPOS="410" VPOS="1256" ID="st4-523"/><String HEIGHT="24" CONTENT="State" WIDTH="49" HPOS="419" VPOS="1256" ID="st4-524"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="34" HPOS="472" VPOS="1256" ID="st4-525"/><SP/><String HEIGHT="24" CONTENT="Local" WIDTH="51" HPOS="511" VPOS="1256" ID="st4-526"/><SP/><String HEIGHT="24" CONTENT="Anti" WIDTH="39" HPOS="566" VPOS="1256" ID="st4-527"/><String HEIGHT="24" CONTENT="-" WIDTH="10" HPOS="605" VPOS="1256" ID="st4-528"/><String HEIGHT="24" CONTENT="Predatory" WIDTH="90" HPOS="615" VPOS="1256" ID="st4-529"/><SP/><String HEIGHT="24" CONTENT="Lending" WIDTH="79" HPOS="709" VPOS="1256" ID="st4-530"/><SP/><String HEIGHT="24" CONTENT="Laws" WIDTH="44" HPOS="793" VPOS="1256" ID="st4-531"/><String HEIGHT="24" CONTENT=":" WIDTH="12" HPOS="837" VPOS="1256" ID="st4-532"/><SP/><String HEIGHT="24" CONTENT="The" WIDTH="36" HPOS="853" VPOS="1256" ID="st4-533"/></TextLine><TextLine HPOS="129" VPOS="1284" ID="tl4-76" WIDTH="760" HEIGHT="23"><String HEIGHT="23" CONTENT="Effect" WIDTH="55" HPOS="129" VPOS="1284" ID="st4-534"/><SP/><String HEIGHT="23" CONTENT="of" WIDTH="19" HPOS="189" VPOS="1284" ID="st4-535"/><SP/><String HEIGHT="23" CONTENT="Legal" WIDTH="51" HPOS="213" VPOS="1284" ID="st4-536"/><SP/><String HEIGHT="23" CONTENT="Enforcement" WIDTH="122" HPOS="269" VPOS="1284" ID="st4-537"/><SP/><String HEIGHT="23" CONTENT="Mechanisms," WIDTH="121" HPOS="396" VPOS="1284" ID="st4-538"/><String HEIGHT="23" CONTENT="«" WIDTH="11" HPOS="517" VPOS="1284" ID="st4-539"/><SP/><String HEIGHT="23" CONTENT="Center" WIDTH="63" HPOS="533" VPOS="1284" ID="st4-540"/><SP/><String HEIGHT="23" CONTENT="for" WIDTH="27" HPOS="601" VPOS="1284" ID="st4-541"/><SP/><String HEIGHT="23" CONTENT="Responsible" WIDTH="113" HPOS="633" VPOS="1284" ID="st4-542"/><SP/><String HEIGHT="23" CONTENT="Lending" WIDTH="79" HPOS="751" VPOS="1284" ID="st4-543"/><SP/><String HEIGHT="23" CONTENT="work" WIDTH="44" HPOS="835" VPOS="1284" ID="st4-544" SUBS_TYPE="HypPart1" SUBS_CONTENT="working"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="1284" HEIGHT="23"/></TextLine><TextLine HPOS="129" VPOS="1311" ID="tl4-77" WIDTH="529" HEIGHT="24"><String HEIGHT="24" CONTENT="ing" WIDTH="31" HPOS="129" VPOS="1311" ID="st4-545" SUBS_TYPE="HypPart2" SUBS_CONTENT="working"/><SP/><String HEIGHT="24" CONTENT="paper" WIDTH="52" HPOS="165" VPOS="1311" ID="st4-546"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="223" VPOS="1311" ID="st4-547"/><String HEIGHT="24" CONTENT="August" WIDTH="65" HPOS="233" VPOS="1311" ID="st4-548"/><SP/><String HEIGHT="24" CONTENT="7" WIDTH="8" HPOS="304" VPOS="1311" ID="st4-549"/><String HEIGHT="24" CONTENT=")" WIDTH="8" HPOS="312" VPOS="1311" ID="st4-550"/><String HEIGHT="24" CONTENT="," WIDTH="8" HPOS="320" VPOS="1311" ID="st4-551"/><SP/><String HEIGHT="24" CONTENT="http" WIDTH="38" HPOS="334" VPOS="1311" ID="st4-552"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="372" VPOS="1311" ID="st4-553"/><String HEIGHT="24" CONTENT="//ssrn" WIDTH="58" HPOS="382" VPOS="1311" ID="st4-554"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="440" VPOS="1311" ID="st4-555"/><String HEIGHT="24" CONTENT="com" WIDTH="29" HPOS="450" VPOS="1311" ID="st4-556"/><String HEIGHT="24" CONTENT="/" WIDTH="7" HPOS="481" VPOS="1311" ID="st4-557"/><SP/><String HEIGHT="24" CONTENT="abstract" WIDTH="79" HPOS="490" VPOS="1311" ID="st4-558"/><String HEIGHT="24" CONTENT="+" WIDTH="9" HPOS="569" VPOS="1311" ID="st4-559"/><String HEIGHT="24" CONTENT="1005423" WIDTH="70" HPOS="578" VPOS="1311" ID="st4-560"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="648" VPOS="1311" ID="st4-561"/></TextLine><TextLine HPOS="94" VPOS="1388" ID="tl4-78" WIDTH="26" HEIGHT="29"><String HEIGHT="29" CONTENT="30" WIDTH="26" HPOS="94" VPOS="1388" ID="st4-562"/></TextLine><TextLine HPOS="140" VPOS="1395" ID="tl4-79" WIDTH="152" HEIGHT="18"><String HEIGHT="18" CONTENT="Sapir" WIDTH="33" HPOS="140" VPOS="1395" ID="st4-563"/><String HEIGHT="18" CONTENT="," WIDTH="7" HPOS="173" VPOS="1395" ID="st4-564"/><SP/><String HEIGHT="18" CONTENT="Financial" WIDTH="65" HPOS="184" VPOS="1395" ID="st4-565"/><SP/><String HEIGHT="18" CONTENT="Crisis" WIDTH="39" HPOS="253" VPOS="1395" ID="st4-566"/></TextLine><TextLine HPOS="799" VPOS="1398" ID="tl4-80" WIDTH="29" HEIGHT="11"><String HEIGHT="11" CONTENT="ipg" WIDTH="29" HPOS="799" VPOS="1398" ID="st4-567"/></TextLine><TextLine HPOS="833" VPOS="1394" ID="tl4-81" WIDTH="56" HEIGHT="21"><String HEIGHT="21" CONTENT="1/2009" WIDTH="56" HPOS="833" VPOS="1394" ID="st4-568"/></TextLine></TextBlock></PrintSpace></Page><Page WIDTH="984" PHYSICAL_IMG_NR="5" ID="p658173" HEIGHT="1472"><PrintSpace WIDTH="984" HPOS="0" VPOS="0" ID="ps658173" HEIGHT="1472"><TextBlock WIDTH="984" HPOS="0" VPOS="0" ID="tb658173" HEIGHT="1472"><TextLine HPOS="94" VPOS="94" ID="tl5-0" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="Woods" WIDTH="78" HPOS="94" VPOS="94" ID="st5-0"/><SP/><String HEIGHT="28" CONTENT="II," WIDTH="30" HPOS="180" VPOS="94" ID="st5-1"/><String HEIGHT="28" CONTENT="«" WIDTH="10" HPOS="210" VPOS="94" ID="st5-2"/><SP/><String HEIGHT="28" CONTENT="but" WIDTH="38" HPOS="228" VPOS="94" ID="st5-3"/><SP/><String HEIGHT="28" CONTENT="was" WIDTH="41" HPOS="274" VPOS="94" ID="st5-4"/><SP/><String HEIGHT="28" CONTENT="intrinsically" WIDTH="128" HPOS="323" VPOS="94" ID="st5-5"/><SP/><String HEIGHT="28" CONTENT="unstable" WIDTH="93" HPOS="459" VPOS="94" ID="st5-6"/><SP/><String HEIGHT="28" CONTENT="as" WIDTH="21" HPOS="560" VPOS="94" ID="st5-7"/><SP/><String HEIGHT="28" CONTENT="it" WIDTH="16" HPOS="589" VPOS="94" ID="st5-8"/><SP/><String HEIGHT="28" CONTENT="was" WIDTH="42" HPOS="613" VPOS="94" ID="st5-9"/><SP/><String HEIGHT="28" CONTENT="grounded" WIDTH="108" HPOS="663" VPOS="94" ID="st5-10"/><SP/><String HEIGHT="28" CONTENT="on" WIDTH="30" HPOS="779" VPOS="94" ID="st5-11"/><SP/><String HEIGHT="28" CONTENT="unsus" WIDTH="60" HPOS="817" VPOS="94" ID="st5-12" SUBS_TYPE="HypPart1" SUBS_CONTENT="unsustainable"/><HYP CONTENT="-" WIDTH="12" HPOS="877" VPOS="94" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="126" ID="tl5-1" WIDTH="268" HEIGHT="28"><String HEIGHT="28" CONTENT="tainable" WIDTH="87" HPOS="94" VPOS="126" ID="st5-13" SUBS_TYPE="HypPart2" SUBS_CONTENT="unsustainable"/><SP/><String HEIGHT="28" CONTENT="debt" WIDTH="49" HPOS="188" VPOS="126" ID="st5-14"/><SP/><String HEIGHT="28" CONTENT="expansion" WIDTH="106" HPOS="244" VPOS="126" ID="st5-15"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="350" VPOS="126" ID="st5-16"/></TextLine><TextLine HPOS="94" VPOS="222" ID="tl5-2" WIDTH="277" HEIGHT="27"><String HEIGHT="27" CONTENT="European" WIDTH="123" HPOS="94" VPOS="222" ID="st5-17"/><SP/><String HEIGHT="27" CONTENT="Divergence" WIDTH="146" HPOS="225" VPOS="222" ID="st5-18"/></TextLine><TextLine HPOS="94" VPOS="286" ID="tl5-3" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="European" WIDTH="109" HPOS="94" VPOS="286" ID="st5-19"/><SP/><String HEIGHT="28" CONTENT="countries" WIDTH="102" HPOS="210" VPOS="286" ID="st5-20"/><SP/><String HEIGHT="28" CONTENT="too" WIDTH="39" HPOS="318" VPOS="286" ID="st5-21"/><SP/><String HEIGHT="28" CONTENT="were" WIDTH="53" HPOS="363" VPOS="286" ID="st5-22"/><SP/><String HEIGHT="28" CONTENT="affected" WIDTH="86" HPOS="423" VPOS="286" ID="st5-23"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="27" HPOS="515" VPOS="286" ID="st5-24"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="549" VPOS="286" ID="st5-25"/><SP/><String HEIGHT="28" CONTENT="wage" WIDTH="49" HPOS="590" VPOS="286" ID="st5-26"/><String HEIGHT="28" CONTENT="-" WIDTH="12" HPOS="639" VPOS="286" ID="st5-27"/><String HEIGHT="28" CONTENT="led" WIDTH="38" HPOS="651" VPOS="286" ID="st5-28"/><SP/><String HEIGHT="28" CONTENT="deflation" WIDTH="98" HPOS="696" VPOS="286" ID="st5-29"/><SP/><String HEIGHT="28" CONTENT="induced" WIDTH="89" HPOS="800" VPOS="286" ID="st5-30"/></TextLine><TextLine HPOS="94" VPOS="318" ID="tl5-4" WIDTH="582" HEIGHT="28"><String HEIGHT="28" CONTENT="by" WIDTH="27" HPOS="94" VPOS="318" ID="st5-31"/><SP/><String HEIGHT="28" CONTENT="Asian" WIDTH="61" HPOS="125" VPOS="318" ID="st5-32"/><SP/><String HEIGHT="28" CONTENT="mercantilist" WIDTH="128" HPOS="191" VPOS="318" ID="st5-33"/><SP/><String HEIGHT="28" CONTENT="policies" WIDTH="83" HPOS="324" VPOS="318" ID="st5-34"/><SP/><String HEIGHT="28" CONTENT="but" WIDTH="37" HPOS="412" VPOS="318" ID="st5-35"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="454" VPOS="318" ID="st5-36"/><SP/><String HEIGHT="28" CONTENT="some" WIDTH="58" HPOS="481" VPOS="318" ID="st5-37"/><SP/><String HEIGHT="28" CONTENT="cases" WIDTH="53" HPOS="544" VPOS="318" ID="st5-38"/><SP/><String HEIGHT="28" CONTENT="also" WIDTH="42" HPOS="602" VPOS="318" ID="st5-39"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="27" HPOS="649" VPOS="318" ID="st5-40"/></TextLine><TextLine HPOS="681" VPOS="324" ID="tl5-5" WIDTH="32" HEIGHT="14"><String HEIGHT="14" CONTENT="eu" WIDTH="32" HPOS="681" VPOS="324" ID="st5-41"/></TextLine><TextLine HPOS="717" VPOS="318" ID="tl5-6" WIDTH="172" HEIGHT="28"><String HEIGHT="28" CONTENT="»" WIDTH="14" HPOS="717" VPOS="318" ID="st5-42"/><String HEIGHT="28" CONTENT="new" WIDTH="45" HPOS="731" VPOS="318" ID="st5-43"/><SP/><String HEIGHT="28" CONTENT="entrants" WIDTH="86" HPOS="781" VPOS="318" ID="st5-44"/><String HEIGHT="28" CONTENT="«" WIDTH="11" HPOS="867" VPOS="318" ID="st5-45"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="878" VPOS="318" ID="st5-46"/></TextLine><TextLine HPOS="94" VPOS="350" ID="tl5-7" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="However" WIDTH="96" HPOS="94" VPOS="350" ID="st5-47"/><String HEIGHT="28" CONTENT="," WIDTH="14" HPOS="190" VPOS="350" ID="st5-48"/><SP/><String HEIGHT="28" CONTENT="they" WIDTH="48" HPOS="211" VPOS="350" ID="st5-49"/><SP/><String HEIGHT="28" CONTENT="were" WIDTH="53" HPOS="266" VPOS="350" ID="st5-50"/><SP/><String HEIGHT="28" CONTENT="faced" WIDTH="58" HPOS="326" VPOS="350" ID="st5-51"/><SP/><String HEIGHT="28" CONTENT="with" WIDTH="51" HPOS="391" VPOS="350" ID="st5-52"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="449" VPOS="350" ID="st5-53"/><SP/><String HEIGHT="28" CONTENT="much" WIDTH="63" HPOS="468" VPOS="350" ID="st5-54"/><SP/><String HEIGHT="28" CONTENT="more" WIDTH="59" HPOS="538" VPOS="350" ID="st5-55"/><SP/><String HEIGHT="28" CONTENT="rigid" WIDTH="53" HPOS="604" VPOS="350" ID="st5-56"/><SP/><String HEIGHT="28" CONTENT="monetary" WIDTH="106" HPOS="664" VPOS="350" ID="st5-57"/><SP/><String HEIGHT="28" CONTENT="policy" WIDTH="67" HPOS="777" VPOS="350" ID="st5-58"/><SP/><String HEIGHT="28" CONTENT="im" WIDTH="26" HPOS="851" VPOS="350" ID="st5-59" SUBS_TYPE="HypPart1" SUBS_CONTENT="imposed"/><HYP CONTENT="-" WIDTH="12" HPOS="877" VPOS="350" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="381" ID="tl5-8" WIDTH="445" HEIGHT="29"><String HEIGHT="29" CONTENT="posed" WIDTH="66" HPOS="94" VPOS="381" ID="st5-60" SUBS_TYPE="HypPart2" SUBS_CONTENT="imposed"/><SP/><String HEIGHT="29" CONTENT="by" WIDTH="28" HPOS="169" VPOS="381" ID="st5-61"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="206" VPOS="381" ID="st5-62"/><SP/><String HEIGHT="29" CONTENT="European" WIDTH="110" HPOS="251" VPOS="381" ID="st5-63"/><SP/><String HEIGHT="29" CONTENT="Central" WIDTH="83" HPOS="370" VPOS="381" ID="st5-64"/><SP/><String HEIGHT="29" CONTENT="Bank" WIDTH="57" HPOS="462" VPOS="381" ID="st5-65"/><String HEIGHT="29" CONTENT="(" WIDTH="10" HPOS="529" VPOS="381" ID="st5-66"/></TextLine><TextLine HPOS="539" VPOS="388" ID="tl5-9" WIDTH="44" HEIGHT="14"><String HEIGHT="14" CONTENT="ecb" WIDTH="44" HPOS="539" VPOS="388" ID="st5-67"/></TextLine><TextLine HPOS="583" VPOS="381" ID="tl5-10" WIDTH="306" HEIGHT="29"><String HEIGHT="29" CONTENT=")" WIDTH="8" HPOS="583" VPOS="381" ID="st5-68"/><String HEIGHT="29" CONTENT="," WIDTH="9" HPOS="591" VPOS="381" ID="st5-69"/><SP/><String HEIGHT="29" CONTENT="which" WIDTH="68" HPOS="610" VPOS="381" ID="st5-70"/><SP/><String HEIGHT="29" CONTENT="explained" WIDTH="106" HPOS="687" VPOS="381" ID="st5-71"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="803" VPOS="381" ID="st5-72"/><SP/><String HEIGHT="29" CONTENT="low" WIDTH="42" HPOS="847" VPOS="381" ID="st5-73"/></TextLine><TextLine HPOS="94" VPOS="413" ID="tl5-11" WIDTH="413" HEIGHT="29"><String HEIGHT="29" CONTENT="growth" WIDTH="82" HPOS="94" VPOS="413" ID="st5-74"/><SP/><String HEIGHT="29" CONTENT="experienced" WIDTH="131" HPOS="182" VPOS="413" ID="st5-75"/><SP/><String HEIGHT="29" CONTENT="in" WIDTH="22" HPOS="320" VPOS="413" ID="st5-76"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="348" VPOS="413" ID="st5-77"/><SP/><String HEIGHT="29" CONTENT="Eurozone" WIDTH="104" HPOS="390" VPOS="413" ID="st5-78"/><String HEIGHT="29" CONTENT="." WIDTH="13" HPOS="494" VPOS="413" ID="st5-79"/></TextLine><TextLine HPOS="129" VPOS="445" ID="tl5-12" WIDTH="760" HEIGHT="29"><String HEIGHT="29" CONTENT="The" WIDTH="44" HPOS="129" VPOS="445" ID="st5-80"/><SP/><String HEIGHT="29" CONTENT="single" WIDTH="66" HPOS="178" VPOS="445" ID="st5-81"/><String HEIGHT="29" CONTENT="-" WIDTH="11" HPOS="244" VPOS="445" ID="st5-82"/><String HEIGHT="29" CONTENT="currency" WIDTH="90" HPOS="255" VPOS="445" ID="st5-83"/><SP/><String HEIGHT="29" CONTENT="principle" WIDTH="96" HPOS="350" VPOS="445" ID="st5-84"/><SP/><String HEIGHT="29" CONTENT="was" WIDTH="41" HPOS="451" VPOS="445" ID="st5-85"/><SP/><String HEIGHT="29" CONTENT="quite" WIDTH="57" HPOS="497" VPOS="445" ID="st5-86"/><SP/><String HEIGHT="29" CONTENT="problematic" WIDTH="131" HPOS="559" VPOS="445" ID="st5-87"/><SP/><String HEIGHT="29" CONTENT="for" WIDTH="33" HPOS="695" VPOS="445" ID="st5-88"/><SP/><String HEIGHT="29" CONTENT="countries" WIDTH="101" HPOS="733" VPOS="445" ID="st5-89"/><SP/><String HEIGHT="29" CONTENT="with" WIDTH="50" HPOS="839" VPOS="445" ID="st5-90"/></TextLine><TextLine HPOS="94" VPOS="477" ID="tl5-13" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="highly" WIDTH="70" HPOS="94" VPOS="477" ID="st5-91"/><SP/><String HEIGHT="29" CONTENT="heterogeneous" WIDTH="162" HPOS="173" VPOS="477" ID="st5-92"/><SP/><String HEIGHT="29" CONTENT="production" WIDTH="124" HPOS="344" VPOS="477" ID="st5-93"/><SP/><String HEIGHT="29" CONTENT="structures" WIDTH="105" HPOS="477" VPOS="477" ID="st5-94"/><String HEIGHT="29" CONTENT="," WIDTH="11" HPOS="582" VPOS="477" ID="st5-95"/><SP/><String HEIGHT="29" CONTENT="growth" WIDTH="82" HPOS="602" VPOS="477" ID="st5-96"/><SP/><String HEIGHT="29" CONTENT="in" WIDTH="22" HPOS="692" VPOS="477" ID="st5-97"/><SP/><String HEIGHT="29" CONTENT="some" WIDTH="58" HPOS="723" VPOS="477" ID="st5-98"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="790" VPOS="477" ID="st5-99"/><SP/><String HEIGHT="29" CONTENT="which" WIDTH="67" HPOS="822" VPOS="477" ID="st5-100"/></TextLine><TextLine HPOS="94" VPOS="509" ID="tl5-14" WIDTH="485" HEIGHT="29"><String HEIGHT="29" CONTENT="was" WIDTH="41" HPOS="94" VPOS="509" ID="st5-101"/><SP/><String HEIGHT="29" CONTENT="extremely" WIDTH="107" HPOS="142" VPOS="509" ID="st5-102"/><SP/><String HEIGHT="29" CONTENT="sensitive" WIDTH="94" HPOS="256" VPOS="509" ID="st5-103"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="24" HPOS="356" VPOS="509" ID="st5-104"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="387" VPOS="509" ID="st5-105"/><SP/><String HEIGHT="29" CONTENT="inflation" WIDTH="94" HPOS="428" VPOS="509" ID="st5-106"/><SP/><String HEIGHT="29" CONTENT="level" WIDTH="50" HPOS="529" VPOS="509" ID="st5-107"/></TextLine><TextLine HPOS="579" VPOS="507" ID="tl5-15" WIDTH="13" HEIGHT="20"><String HEIGHT="20" CONTENT="11" WIDTH="13" HPOS="579" VPOS="507" ID="st5-108"/></TextLine><TextLine HPOS="599" VPOS="509" ID="tl5-16" WIDTH="290" HEIGHT="29"><String HEIGHT="29" CONTENT="in" WIDTH="22" HPOS="599" VPOS="509" ID="st5-109"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="628" VPOS="509" ID="st5-110"/><SP/><String HEIGHT="29" CONTENT="absence" WIDTH="86" HPOS="669" VPOS="509" ID="st5-111"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="761" VPOS="509" ID="st5-112"/><SP/><String HEIGHT="29" CONTENT="anything" WIDTH="98" HPOS="791" VPOS="509" ID="st5-113"/></TextLine><TextLine HPOS="94" VPOS="541" ID="tl5-17" WIDTH="311" HEIGHT="28"><String HEIGHT="28" CONTENT="like" WIDTH="39" HPOS="94" VPOS="541" ID="st5-114"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="138" VPOS="541" ID="st5-115"/><SP/><String HEIGHT="28" CONTENT="large" WIDTH="54" HPOS="155" VPOS="541" ID="st5-116"/><String HEIGHT="28" CONTENT="»" WIDTH="11" HPOS="214" VPOS="541" ID="st5-117"/><String HEIGHT="28" CONTENT="federal" WIDTH="77" HPOS="225" VPOS="541" ID="st5-118"/><String HEIGHT="28" CONTENT="«" WIDTH="12" HPOS="302" VPOS="541" ID="st5-119"/><SP/><String HEIGHT="28" CONTENT="budget" WIDTH="73" HPOS="319" VPOS="541" ID="st5-120"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="392" VPOS="541" ID="st5-121"/></TextLine><TextLine HPOS="405" VPOS="539" ID="tl5-18" WIDTH="16" HEIGHT="20"><String HEIGHT="20" CONTENT="12" WIDTH="16" HPOS="405" VPOS="539" ID="st5-122"/></TextLine><TextLine HPOS="426" VPOS="541" ID="tl5-19" WIDTH="463" HEIGHT="28"><String HEIGHT="28" CONTENT="Economic" WIDTH="113" HPOS="426" VPOS="541" ID="st5-123"/><SP/><String HEIGHT="28" CONTENT="theory" WIDTH="71" HPOS="545" VPOS="541" ID="st5-124"/><SP/><String HEIGHT="28" CONTENT="has" WIDTH="36" HPOS="622" VPOS="541" ID="st5-125"/><SP/><String HEIGHT="28" CONTENT="proved" WIDTH="78" HPOS="663" VPOS="541" ID="st5-126"/><SP/><String HEIGHT="28" CONTENT="that" WIDTH="44" HPOS="746" VPOS="541" ID="st5-127"/><SP/><String HEIGHT="28" CONTENT="inflation" WIDTH="94" HPOS="795" VPOS="541" ID="st5-128"/></TextLine><TextLine HPOS="94" VPOS="573" ID="tl5-20" WIDTH="255" HEIGHT="28"><String HEIGHT="28" CONTENT="can" WIDTH="37" HPOS="94" VPOS="573" ID="st5-129"/><SP/><String HEIGHT="28" CONTENT="actually" WIDTH="84" HPOS="139" VPOS="573" ID="st5-130"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="27" HPOS="231" VPOS="573" ID="st5-131"/><SP/><String HEIGHT="27" CONTENT="too" WIDTH="28" HPOS="266" VPOS="574" ID="st5-132"/><SP/><String HEIGHT="28" CONTENT="low" WIDTH="35" HPOS="302" VPOS="573" ID="st5-133"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="337" VPOS="573" ID="st5-134"/></TextLine><TextLine HPOS="349" VPOS="571" ID="tl5-21" WIDTH="15" HEIGHT="20"><String HEIGHT="20" CONTENT="13" WIDTH="15" HPOS="349" VPOS="571" ID="st5-135"/></TextLine><TextLine HPOS="371" VPOS="573" ID="tl5-22" WIDTH="518" HEIGHT="28"><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="371" VPOS="573" ID="st5-136"/><SP/><String HEIGHT="28" CONTENT="zero" WIDTH="43" HPOS="423" VPOS="573" ID="st5-137"/><String HEIGHT="28" CONTENT="-" WIDTH="10" HPOS="466" VPOS="573" ID="st5-138"/><String HEIGHT="28" CONTENT="inflation" WIDTH="98" HPOS="476" VPOS="573" ID="st5-139"/><SP/><String HEIGHT="28" CONTENT="consistently" WIDTH="130" HPOS="582" VPOS="573" ID="st5-140"/><SP/><String HEIGHT="28" CONTENT="targeted" WIDTH="91" HPOS="720" VPOS="573" ID="st5-141"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="27" HPOS="819" VPOS="573" ID="st5-142"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="854" VPOS="573" ID="st5-143"/></TextLine><TextLine HPOS="94" VPOS="611" ID="tl5-23" WIDTH="44" HEIGHT="15"><String HEIGHT="15" CONTENT="ecb" WIDTH="44" HPOS="94" VPOS="611" ID="st5-144"/></TextLine><TextLine HPOS="144" VPOS="605" ID="tl5-24" WIDTH="745" HEIGHT="28"><String HEIGHT="28" CONTENT="has" WIDTH="36" HPOS="144" VPOS="605" ID="st5-145"/><SP/><String HEIGHT="28" CONTENT="had" WIDTH="41" HPOS="185" VPOS="605" ID="st5-146"/><SP/><String HEIGHT="28" CONTENT="disastrous" WIDTH="111" HPOS="231" VPOS="605" ID="st5-147"/><SP/><String HEIGHT="28" CONTENT="effects" WIDTH="69" HPOS="348" VPOS="605" ID="st5-148"/><SP/><String HEIGHT="28" CONTENT="on" WIDTH="30" HPOS="422" VPOS="605" ID="st5-149"/><SP/><String HEIGHT="28" CONTENT="European" WIDTH="110" HPOS="457" VPOS="605" ID="st5-150"/><SP/><String HEIGHT="28" CONTENT="economies" WIDTH="112" HPOS="572" VPOS="605" ID="st5-151"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="684" VPOS="605" ID="st5-152"/><SP/><String HEIGHT="28" CONTENT="Overvaluation" WIDTH="158" HPOS="703" VPOS="605" ID="st5-153"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="866" VPOS="605" ID="st5-154"/></TextLine><TextLine HPOS="94" VPOS="637" ID="tl5-25" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="94" VPOS="637" ID="st5-155"/><SP/><String HEIGHT="28" CONTENT="euro" WIDTH="51" HPOS="134" VPOS="637" ID="st5-156"/><SP/><String HEIGHT="28" CONTENT="has" WIDTH="36" HPOS="190" VPOS="637" ID="st5-157"/><SP/><String HEIGHT="28" CONTENT="been" WIDTH="52" HPOS="231" VPOS="637" ID="st5-158"/><SP/><String HEIGHT="28" CONTENT="estimated" WIDTH="107" HPOS="288" VPOS="637" ID="st5-159"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="400" VPOS="637" ID="st5-160"/><SP/><String HEIGHT="28" CONTENT="cost" WIDTH="45" HPOS="428" VPOS="637" ID="st5-161"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="478" VPOS="637" ID="st5-162"/><SP/><String HEIGHT="28" CONTENT="French" WIDTH="77" HPOS="518" VPOS="637" ID="st5-163"/><SP/><String HEIGHT="28" CONTENT="economy" WIDTH="102" HPOS="600" VPOS="637" ID="st5-164"/><SP/><String HEIGHT="28" CONTENT="between" WIDTH="92" HPOS="707" VPOS="637" ID="st5-165"/><SP/><String HEIGHT="28" CONTENT="0" WIDTH="12" HPOS="804" VPOS="637" ID="st5-166"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="816" VPOS="637" ID="st5-167"/><String HEIGHT="28" CONTENT="6" WIDTH="12" HPOS="828" VPOS="637" ID="st5-168"/><SP/><String HEIGHT="28" CONTENT="per" WIDTH="33" HPOS="845" VPOS="637" ID="st5-169" SUBS_TYPE="HypPart1" SUBS_CONTENT="percent"/><HYP CONTENT="-" WIDTH="11" HPOS="878" VPOS="637" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="669" ID="tl5-26" WIDTH="224" HEIGHT="28"><String HEIGHT="28" CONTENT="cent" WIDTH="46" HPOS="94" VPOS="669" ID="st5-170" SUBS_TYPE="HypPart2" SUBS_CONTENT="percent"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="146" VPOS="669" ID="st5-171"/><SP/><String HEIGHT="28" CONTENT="1" WIDTH="9" HPOS="193" VPOS="669" ID="st5-172"/><SP/><String HEIGHT="28" CONTENT="percent" WIDTH="82" HPOS="208" VPOS="669" ID="st5-173"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="295" VPOS="669" ID="st5-174"/></TextLine><TextLine HPOS="324" VPOS="675" ID="tl5-27" WIDTH="47" HEIGHT="15"><String HEIGHT="15" CONTENT="gdp" WIDTH="47" HPOS="324" VPOS="675" ID="st5-175"/></TextLine><TextLine HPOS="377" VPOS="669" ID="tl5-28" WIDTH="68" HEIGHT="28"><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="377" VPOS="669" ID="st5-176"/><SP/><String HEIGHT="28" CONTENT="year" WIDTH="40" HPOS="394" VPOS="669" ID="st5-177"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="434" VPOS="669" ID="st5-178"/></TextLine><TextLine HPOS="445" VPOS="667" ID="tl5-29" WIDTH="18" HEIGHT="20"><String HEIGHT="20" CONTENT="14" WIDTH="18" HPOS="445" VPOS="667" ID="st5-179"/></TextLine><TextLine HPOS="468" VPOS="669" ID="tl5-30" WIDTH="43" HEIGHT="28"><String HEIGHT="28" CONTENT="The" WIDTH="43" HPOS="468" VPOS="669" ID="st5-180"/></TextLine><TextLine HPOS="517" VPOS="675" ID="tl5-31" WIDTH="44" HEIGHT="15"><String HEIGHT="15" CONTENT="ecb" WIDTH="44" HPOS="517" VPOS="675" ID="st5-181"/></TextLine><TextLine HPOS="567" VPOS="669" ID="tl5-32" WIDTH="322" HEIGHT="28"><String HEIGHT="28" CONTENT="policy" WIDTH="67" HPOS="567" VPOS="669" ID="st5-182"/><SP/><String HEIGHT="28" CONTENT="has" WIDTH="36" HPOS="639" VPOS="669" ID="st5-183"/><SP/><String HEIGHT="28" CONTENT="also" WIDTH="43" HPOS="681" VPOS="669" ID="st5-184"/><SP/><String HEIGHT="28" CONTENT="contributed" WIDTH="131" HPOS="729" VPOS="669" ID="st5-185"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="866" VPOS="669" ID="st5-186"/></TextLine><TextLine HPOS="94" VPOS="701" ID="tl5-33" WIDTH="709" HEIGHT="28"><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="94" VPOS="701" ID="st5-187"/><SP/><String HEIGHT="28" CONTENT="international" WIDTH="142" HPOS="136" VPOS="701" ID="st5-188"/><SP/><String HEIGHT="28" CONTENT="monetary" WIDTH="105" HPOS="285" VPOS="701" ID="st5-189"/><SP/><String HEIGHT="28" CONTENT="disorder" WIDTH="92" HPOS="397" VPOS="701" ID="st5-190"/><SP/><String HEIGHT="28" CONTENT="leading" WIDTH="81" HPOS="495" VPOS="701" ID="st5-191"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="583" VPOS="701" ID="st5-192"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="613" VPOS="701" ID="st5-193"/><SP/><String HEIGHT="28" CONTENT="current" WIDTH="81" HPOS="654" VPOS="701" ID="st5-194"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="53" HPOS="741" VPOS="701" ID="st5-195"/><String HEIGHT="28" CONTENT="." WIDTH="9" HPOS="794" VPOS="701" ID="st5-196"/></TextLine><TextLine HPOS="803" VPOS="699" ID="tl5-34" WIDTH="14" HEIGHT="20"><String HEIGHT="20" CONTENT="15" WIDTH="14" HPOS="803" VPOS="699" ID="st5-197"/></TextLine><TextLine HPOS="129" VPOS="733" ID="tl5-35" WIDTH="354" HEIGHT="28"><String HEIGHT="28" CONTENT="Some" WIDTH="64" HPOS="129" VPOS="733" ID="st5-198"/><SP/><String HEIGHT="28" CONTENT="European" WIDTH="110" HPOS="200" VPOS="733" ID="st5-199"/><SP/><String HEIGHT="28" CONTENT="countries" WIDTH="103" HPOS="317" VPOS="733" ID="st5-200"/><SP/><String HEIGHT="28" CONTENT="–" WIDTH="13" HPOS="427" VPOS="733" ID="st5-201"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="448" VPOS="733" ID="st5-202"/></TextLine><TextLine HPOS="491" VPOS="739" ID="tl5-36" WIDTH="33" HEIGHT="14"><String HEIGHT="14" CONTENT="uk" WIDTH="33" HPOS="491" VPOS="739" ID="st5-203"/></TextLine><TextLine HPOS="524" VPOS="733" ID="tl5-37" WIDTH="365" HEIGHT="28"><String HEIGHT="28" CONTENT="," WIDTH="7" HPOS="524" VPOS="733" ID="st5-204"/><SP/><String HEIGHT="28" CONTENT="Spain" WIDTH="58" HPOS="539" VPOS="733" ID="st5-205"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="597" VPOS="733" ID="st5-206"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="616" VPOS="733" ID="st5-207"/><SP/><String HEIGHT="28" CONTENT="Ireland" WIDTH="80" HPOS="665" VPOS="733" ID="st5-208"/><SP/><String HEIGHT="28" CONTENT="–" WIDTH="14" HPOS="752" VPOS="733" ID="st5-209"/><SP/><String HEIGHT="28" CONTENT="responded" WIDTH="116" HPOS="773" VPOS="733" ID="st5-210"/></TextLine><TextLine HPOS="94" VPOS="765" ID="tl5-38" WIDTH="692" HEIGHT="28"><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="94" VPOS="765" ID="st5-211"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="123" VPOS="765" ID="st5-212"/><SP/><String HEIGHT="28" CONTENT="continent" WIDTH="99" HPOS="163" VPOS="765" ID="st5-213"/><String HEIGHT="28" CONTENT="’" WIDTH="11" HPOS="262" VPOS="765" ID="st5-214"/><String HEIGHT="28" CONTENT="s" WIDTH="12" HPOS="273" VPOS="765" ID="st5-215"/><SP/><String HEIGHT="28" CONTENT="depressed" WIDTH="108" HPOS="290" VPOS="765" ID="st5-216"/><SP/><String HEIGHT="28" CONTENT="economic" WIDTH="108" HPOS="403" VPOS="765" ID="st5-217"/><SP/><String HEIGHT="28" CONTENT="climate" WIDTH="79" HPOS="517" VPOS="765" ID="st5-218"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="27" HPOS="602" VPOS="765" ID="st5-219"/><SP/><String HEIGHT="28" CONTENT="emulating" WIDTH="112" HPOS="634" VPOS="765" ID="st5-220"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="751" VPOS="765" ID="st5-221"/></TextLine><TextLine HPOS="792" VPOS="771" ID="tl5-39" WIDTH="29" HEIGHT="14"><String HEIGHT="14" CONTENT="us" WIDTH="29" HPOS="792" VPOS="771" ID="st5-222"/></TextLine><TextLine HPOS="826" VPOS="765" ID="tl5-40" WIDTH="63" HEIGHT="28"><String HEIGHT="28" CONTENT="»" WIDTH="12" HPOS="826" VPOS="765" ID="st5-223"/><String HEIGHT="28" CONTENT="neo" WIDTH="39" HPOS="838" VPOS="765" ID="st5-224" SUBS_TYPE="HypPart1" SUBS_CONTENT="neo11"/><HYP CONTENT="-" WIDTH="12" HPOS="877" VPOS="765" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="839" ID="tl5-41" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="11" WIDTH="14" HPOS="94" VPOS="839" ID="st5-225" SUBS_TYPE="HypPart2" SUBS_CONTENT="neo11"/><String HEIGHT="24" CONTENT="." WIDTH="8" HPOS="108" VPOS="839" ID="st5-226"/><SP/><String HEIGHT="24" CONTENT="Angeloni" WIDTH="88" HPOS="129" VPOS="839" ID="st5-227"/><SP/><String HEIGHT="24" CONTENT="I" WIDTH="7" HPOS="226" VPOS="839" ID="st5-228"/><String HEIGHT="24" CONTENT="." WIDTH="8" HPOS="233" VPOS="839" ID="st5-229"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="35" HPOS="249" VPOS="839" ID="st5-230"/><SP/><String HEIGHT="24" CONTENT="M" WIDTH="14" HPOS="293" VPOS="839" ID="st5-231"/><String HEIGHT="24" CONTENT="." WIDTH="14" HPOS="307" VPOS="839" ID="st5-232"/><SP/><String HEIGHT="24" CONTENT="Ehrmann" WIDTH="89" HPOS="330" VPOS="839" ID="st5-233"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="428" VPOS="839" ID="st5-234"/><String HEIGHT="24" CONTENT="2007" WIDTH="41" HPOS="438" VPOS="839" ID="st5-235"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="479" VPOS="839" ID="st5-236"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="489" VPOS="839" ID="st5-237"/><String HEIGHT="24" CONTENT="»" WIDTH="11" HPOS="509" VPOS="839" ID="st5-238"/><String HEIGHT="24" CONTENT="Euro" WIDTH="48" HPOS="520" VPOS="839" ID="st5-239"/><SP/><String HEIGHT="24" CONTENT="Area" WIDTH="44" HPOS="576" VPOS="839" ID="st5-240"/><SP/><String HEIGHT="24" CONTENT="Inflation" WIDTH="83" HPOS="629" VPOS="839" ID="st5-241"/><SP/><String HEIGHT="24" CONTENT="Differentials," WIDTH="124" HPOS="721" VPOS="839" ID="st5-242"/><String HEIGHT="24" CONTENT="«" WIDTH="9" HPOS="845" VPOS="839" ID="st5-243"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="17" HPOS="863" VPOS="839" ID="st5-244"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="880" VPOS="839" ID="st5-245"/></TextLine><TextLine HPOS="129" VPOS="868" ID="tl5-42" WIDTH="760" HEIGHT="23"><String HEIGHT="23" CONTENT="BE" WIDTH="28" HPOS="129" VPOS="868" ID="st5-246"/><SP/><String HEIGHT="23" CONTENT="Journal" WIDTH="67" HPOS="163" VPOS="868" ID="st5-247"/><SP/><String HEIGHT="23" CONTENT="of" WIDTH="15" HPOS="236" VPOS="868" ID="st5-248"/><SP/><String HEIGHT="23" CONTENT="Macroeconomics" WIDTH="135" HPOS="257" VPOS="868" ID="st5-249"/><String HEIGHT="23" CONTENT="," WIDTH="10" HPOS="392" VPOS="868" ID="st5-250"/><SP/><String HEIGHT="24" CONTENT="7" WIDTH="10" HPOS="408" VPOS="867" ID="st5-251"/><String HEIGHT="24" CONTENT="(" WIDTH="7" HPOS="424" VPOS="867" ID="st5-252"/><String HEIGHT="24" CONTENT="1" WIDTH="8" HPOS="431" VPOS="867" ID="st5-253"/><String HEIGHT="24" CONTENT=")" WIDTH="7" HPOS="439" VPOS="867" ID="st5-254"/><String HEIGHT="24" CONTENT="," WIDTH="8" HPOS="446" VPOS="867" ID="st5-255"/><SP/><String HEIGHT="24" CONTENT="Article" WIDTH="62" HPOS="460" VPOS="867" ID="st5-256"/><SP/><String HEIGHT="24" CONTENT="24" WIDTH="20" HPOS="528" VPOS="867" ID="st5-257"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="548" VPOS="867" ID="st5-258"/><SP/><String HEIGHT="24" CONTENT="31" WIDTH="15" HPOS="565" VPOS="867" ID="st5-259"/><String HEIGHT="24" CONTENT="," WIDTH="8" HPOS="580" VPOS="867" ID="st5-260"/><SP/><String HEIGHT="24" CONTENT="http" WIDTH="42" HPOS="594" VPOS="867" ID="st5-261"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="636" VPOS="867" ID="st5-262"/><String HEIGHT="24" CONTENT="//www" WIDTH="53" HPOS="646" VPOS="867" ID="st5-263"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="699" VPOS="867" ID="st5-264"/><String HEIGHT="24" CONTENT="bepress" WIDTH="74" HPOS="709" VPOS="867" ID="st5-265"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="783" VPOS="867" ID="st5-266"/><String HEIGHT="24" CONTENT="com/bejm" WIDTH="84" HPOS="794" VPOS="867" ID="st5-267"/><String HEIGHT="24" CONTENT="/" WIDTH="11" HPOS="878" VPOS="867" ID="st5-268"/></TextLine><TextLine HPOS="129" VPOS="895" ID="tl5-43" WIDTH="760" HEIGHT="24"><String HEIGHT="24" CONTENT="vol7/iss1/art24" WIDTH="135" HPOS="129" VPOS="895" ID="st5-269"/><String HEIGHT="24" CONTENT=";" WIDTH="10" HPOS="264" VPOS="895" ID="st5-270"/><SP/><String HEIGHT="24" CONTENT="see" WIDTH="28" HPOS="280" VPOS="895" ID="st5-271"/><SP/><String HEIGHT="24" CONTENT="also" WIDTH="36" HPOS="314" VPOS="895" ID="st5-272"/><SP/><String HEIGHT="24" CONTENT="Gali" WIDTH="36" HPOS="357" VPOS="895" ID="st5-273"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="393" VPOS="895" ID="st5-274"/><SP/><String HEIGHT="24" CONTENT="J" WIDTH="6" HPOS="409" VPOS="895" ID="st5-275"/><String HEIGHT="24" CONTENT="." WIDTH="6" HPOS="415" VPOS="895" ID="st5-276"/><String HEIGHT="24" CONTENT="," WIDTH="7" HPOS="421" VPOS="895" ID="st5-277"/><SP/><String HEIGHT="24" CONTENT="M" WIDTH="14" HPOS="435" VPOS="895" ID="st5-278"/><String HEIGHT="24" CONTENT="." WIDTH="14" HPOS="449" VPOS="895" ID="st5-279"/><SP/><String HEIGHT="24" CONTENT="Gertler" WIDTH="63" HPOS="469" VPOS="895" ID="st5-280"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="532" VPOS="895" ID="st5-281"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="35" HPOS="547" VPOS="895" ID="st5-282"/><SP/><String HEIGHT="24" CONTENT="D" WIDTH="11" HPOS="588" VPOS="895" ID="st5-283"/><String HEIGHT="24" CONTENT="." WIDTH="12" HPOS="599" VPOS="895" ID="st5-284"/><SP/><String HEIGHT="24" CONTENT="Lopez" WIDTH="51" HPOS="618" VPOS="895" ID="st5-285"/><String HEIGHT="24" CONTENT="-" WIDTH="11" HPOS="669" VPOS="895" ID="st5-286"/><String HEIGHT="24" CONTENT="Salido" WIDTH="62" HPOS="680" VPOS="895" ID="st5-287"/><String HEIGHT="24" CONTENT="(" WIDTH="9" HPOS="748" VPOS="895" ID="st5-288"/><String HEIGHT="24" CONTENT="2001" WIDTH="40" HPOS="757" VPOS="895" ID="st5-289"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="797" VPOS="895" ID="st5-290"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="807" VPOS="895" ID="st5-291"/><String HEIGHT="24" CONTENT="»" WIDTH="11" HPOS="823" VPOS="895" ID="st5-292"/><String HEIGHT="24" CONTENT="Euro" WIDTH="44" HPOS="834" VPOS="895" ID="st5-293" SUBS_TYPE="HypPart1" SUBS_CONTENT="European"/><HYP CONTENT="-" WIDTH="11" HPOS="878" VPOS="895" HEIGHT="24"/></TextLine><TextLine HPOS="129" VPOS="923" ID="tl5-44" WIDTH="760" HEIGHT="23"><String HEIGHT="23" CONTENT="pean" WIDTH="44" HPOS="129" VPOS="923" ID="st5-294" SUBS_TYPE="HypPart2" SUBS_CONTENT="European"/><SP/><String HEIGHT="23" CONTENT="Inflation" WIDTH="81" HPOS="178" VPOS="923" ID="st5-295"/><SP/><String HEIGHT="23" CONTENT="Dynamics," WIDTH="98" HPOS="263" VPOS="923" ID="st5-296"/><String HEIGHT="23" CONTENT="«" WIDTH="11" HPOS="361" VPOS="923" ID="st5-297"/><SP/><String HEIGHT="23" CONTENT="in" WIDTH="16" HPOS="376" VPOS="923" ID="st5-298"/><String HEIGHT="23" CONTENT=":" WIDTH="9" HPOS="392" VPOS="923" ID="st5-299"/><SP/><String HEIGHT="22" CONTENT="European" WIDTH="84" HPOS="405" VPOS="924" ID="st5-300"/><SP/><String HEIGHT="22" CONTENT="Economic" WIDTH="82" HPOS="493" VPOS="924" ID="st5-301"/><SP/><String HEIGHT="22" CONTENT="Review" WIDTH="55" HPOS="579" VPOS="924" ID="st5-302"/><String HEIGHT="22" CONTENT="," WIDTH="10" HPOS="634" VPOS="924" ID="st5-303"/><SP/><String HEIGHT="23" CONTENT="45" WIDTH="20" HPOS="648" VPOS="923" ID="st5-304"/><String HEIGHT="23" CONTENT="(" WIDTH="8" HPOS="673" VPOS="923" ID="st5-305"/><String HEIGHT="23" CONTENT="7" WIDTH="9" HPOS="681" VPOS="923" ID="st5-306"/><String HEIGHT="23" CONTENT=")" WIDTH="8" HPOS="690" VPOS="923" ID="st5-307"/><String HEIGHT="23" CONTENT=":" WIDTH="9" HPOS="698" VPOS="923" ID="st5-308"/><SP/><String HEIGHT="23" CONTENT="1237–1270" WIDTH="87" HPOS="712" VPOS="923" ID="st5-309"/><String HEIGHT="23" CONTENT=";" WIDTH="10" HPOS="799" VPOS="923" ID="st5-310"/><SP/><String HEIGHT="23" CONTENT="Conrad" WIDTH="65" HPOS="813" VPOS="923" ID="st5-311"/><String HEIGHT="23" CONTENT="," WIDTH="11" HPOS="878" VPOS="923" ID="st5-312"/></TextLine><TextLine HPOS="129" VPOS="950" ID="tl5-45" WIDTH="760" HEIGHT="24"><String HEIGHT="24" CONTENT="C" WIDTH="11" HPOS="129" VPOS="950" ID="st5-313"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="140" VPOS="950" ID="st5-314"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="34" HPOS="158" VPOS="950" ID="st5-315"/><SP/><String HEIGHT="24" CONTENT="M" WIDTH="14" HPOS="199" VPOS="950" ID="st5-316"/><String HEIGHT="24" CONTENT="." WIDTH="14" HPOS="213" VPOS="950" ID="st5-317"/><SP/><String HEIGHT="24" CONTENT="Karanasos" WIDTH="94" HPOS="234" VPOS="950" ID="st5-318"/><String HEIGHT="24" CONTENT="(" WIDTH="9" HPOS="335" VPOS="950" ID="st5-319"/><String HEIGHT="24" CONTENT="2005" WIDTH="40" HPOS="344" VPOS="950" ID="st5-320"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="384" VPOS="950" ID="st5-321"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="394" VPOS="950" ID="st5-322"/><String HEIGHT="24" CONTENT="»" WIDTH="11" HPOS="410" VPOS="950" ID="st5-323"/><String HEIGHT="24" CONTENT="Dual" WIDTH="46" HPOS="421" VPOS="950" ID="st5-324"/><SP/><String HEIGHT="24" CONTENT="Long" WIDTH="51" HPOS="474" VPOS="950" ID="st5-325"/><SP/><String HEIGHT="24" CONTENT="Memory" WIDTH="81" HPOS="531" VPOS="950" ID="st5-326"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="19" HPOS="619" VPOS="950" ID="st5-327"/><SP/><String HEIGHT="24" CONTENT="Inflation" WIDTH="82" HPOS="644" VPOS="950" ID="st5-328"/><SP/><String HEIGHT="24" CONTENT="Dynamics" WIDTH="93" HPOS="733" VPOS="950" ID="st5-329"/><SP/><String HEIGHT="24" CONTENT="across" WIDTH="56" HPOS="833" VPOS="950" ID="st5-330"/></TextLine><TextLine HPOS="129" VPOS="978" ID="tl5-46" WIDTH="760" HEIGHT="24"><String HEIGHT="24" CONTENT="Countries" WIDTH="93" HPOS="129" VPOS="978" ID="st5-331"/><SP/><String HEIGHT="24" CONTENT="of" WIDTH="19" HPOS="228" VPOS="978" ID="st5-332"/><SP/><String HEIGHT="24" CONTENT="the" WIDTH="29" HPOS="253" VPOS="978" ID="st5-333"/><SP/><String HEIGHT="24" CONTENT="Euro" WIDTH="48" HPOS="288" VPOS="978" ID="st5-334"/><SP/><String HEIGHT="24" CONTENT="Area" WIDTH="43" HPOS="341" VPOS="978" ID="st5-335"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="34" HPOS="390" VPOS="978" ID="st5-336"/><SP/><String HEIGHT="24" CONTENT="the" WIDTH="30" HPOS="430" VPOS="978" ID="st5-337"/><SP/><String HEIGHT="24" CONTENT="Link" WIDTH="44" HPOS="465" VPOS="978" ID="st5-338"/><SP/><String HEIGHT="24" CONTENT="between" WIDTH="77" HPOS="515" VPOS="978" ID="st5-339"/><SP/><String HEIGHT="24" CONTENT="Inflation" WIDTH="82" HPOS="598" VPOS="978" ID="st5-340"/><SP/><String HEIGHT="24" CONTENT="Uncertainty" WIDTH="111" HPOS="685" VPOS="978" ID="st5-341"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="34" HPOS="802" VPOS="978" ID="st5-342"/><SP/><String HEIGHT="24" CONTENT="Mac" WIDTH="36" HPOS="842" VPOS="978" ID="st5-343" SUBS_TYPE="HypPart1" SUBS_CONTENT="Macroeconomic"/><HYP CONTENT="-" WIDTH="11" HPOS="878" VPOS="978" HEIGHT="24"/></TextLine><TextLine HPOS="129" VPOS="1006" ID="tl5-47" WIDTH="760" HEIGHT="24"><String HEIGHT="24" CONTENT="roeconomic" WIDTH="112" HPOS="129" VPOS="1006" ID="st5-344" SUBS_TYPE="HypPart2" SUBS_CONTENT="Macroeconomic"/><SP/><String HEIGHT="24" CONTENT="Performance," WIDTH="123" HPOS="246" VPOS="1006" ID="st5-345"/><String HEIGHT="24" CONTENT="«" WIDTH="11" HPOS="369" VPOS="1006" ID="st5-346"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="16" HPOS="385" VPOS="1006" ID="st5-347"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="401" VPOS="1006" ID="st5-348"/><SP/><String HEIGHT="23" CONTENT="Studies" WIDTH="62" HPOS="416" VPOS="1007" ID="st5-349"/><SP/><String HEIGHT="23" CONTENT="in" WIDTH="19" HPOS="483" VPOS="1007" ID="st5-350"/><SP/><String HEIGHT="23" CONTENT="Nonlinear" WIDTH="90" HPOS="507" VPOS="1007" ID="st5-351"/><SP/><String HEIGHT="23" CONTENT="Dynamics" WIDTH="87" HPOS="602" VPOS="1007" ID="st5-352"/><String HEIGHT="23" CONTENT="&amp;" WIDTH="20" HPOS="695" VPOS="1007" ID="st5-353"/><SP/><String HEIGHT="23" CONTENT="Econometrics" WIDTH="108" HPOS="720" VPOS="1007" ID="st5-354"/><String HEIGHT="23" CONTENT="," WIDTH="9" HPOS="828" VPOS="1007" ID="st5-355"/><SP/><String HEIGHT="24" CONTENT="9" WIDTH="12" HPOS="842" VPOS="1006" ID="st5-356"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="859" VPOS="1006" ID="st5-357"/><String HEIGHT="24" CONTENT="4" WIDTH="10" HPOS="869" VPOS="1006" ID="st5-358"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="879" VPOS="1006" ID="st5-359"/></TextLine><TextLine HPOS="129" VPOS="1034" ID="tl5-48" WIDTH="419" HEIGHT="23"><String HEIGHT="23" CONTENT="(" WIDTH="11" HPOS="129" VPOS="1034" ID="st5-360"/><String HEIGHT="23" CONTENT="November" WIDTH="90" HPOS="140" VPOS="1034" ID="st5-361"/><String HEIGHT="23" CONTENT=")" WIDTH="11" HPOS="230" VPOS="1034" ID="st5-362"/><String HEIGHT="23" CONTENT="," WIDTH="12" HPOS="241" VPOS="1034" ID="st5-363"/><SP/><String HEIGHT="23" CONTENT="http" WIDTH="41" HPOS="258" VPOS="1034" ID="st5-364"/><String HEIGHT="23" CONTENT=":" WIDTH="10" HPOS="299" VPOS="1034" ID="st5-365"/><String HEIGHT="23" CONTENT="//www" WIDTH="52" HPOS="309" VPOS="1034" ID="st5-366"/><String HEIGHT="23" CONTENT="." WIDTH="10" HPOS="361" VPOS="1034" ID="st5-367"/><String HEIGHT="23" CONTENT="bepress" WIDTH="73" HPOS="371" VPOS="1034" ID="st5-368"/><String HEIGHT="23" CONTENT="." WIDTH="10" HPOS="444" VPOS="1034" ID="st5-369"/><String HEIGHT="23" CONTENT="com/snde" WIDTH="83" HPOS="454" VPOS="1034" ID="st5-370"/><String HEIGHT="23" CONTENT="." WIDTH="11" HPOS="537" VPOS="1034" ID="st5-371"/></TextLine><TextLine HPOS="94" VPOS="1061" ID="tl5-49" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="12" WIDTH="16" HPOS="94" VPOS="1061" ID="st5-372"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="110" VPOS="1061" ID="st5-373"/><SP/><String HEIGHT="24" CONTENT="Sapir" WIDTH="44" HPOS="130" VPOS="1061" ID="st5-374"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="174" VPOS="1061" ID="st5-375"/><SP/><String HEIGHT="24" CONTENT="J" WIDTH="7" HPOS="191" VPOS="1061" ID="st5-376"/><String HEIGHT="24" CONTENT="." WIDTH="7" HPOS="198" VPOS="1061" ID="st5-377"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="213" VPOS="1061" ID="st5-378"/><String HEIGHT="24" CONTENT="2006" WIDTH="42" HPOS="223" VPOS="1061" ID="st5-379"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="265" VPOS="1061" ID="st5-380"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="275" VPOS="1061" ID="st5-381"/><String HEIGHT="24" CONTENT="»" WIDTH="11" HPOS="293" VPOS="1061" ID="st5-382"/><String HEIGHT="24" CONTENT="La" WIDTH="24" HPOS="304" VPOS="1061" ID="st5-383"/><SP/><String HEIGHT="24" CONTENT="Crise" WIDTH="49" HPOS="336" VPOS="1061" ID="st5-384"/><SP/><String HEIGHT="24" CONTENT="de" WIDTH="22" HPOS="393" VPOS="1061" ID="st5-385"/><SP/><String HEIGHT="24" CONTENT="l" WIDTH="9" HPOS="423" VPOS="1061" ID="st5-386"/><String HEIGHT="24" CONTENT="’" WIDTH="9" HPOS="432" VPOS="1061" ID="st5-387"/><String HEIGHT="24" CONTENT="Euro" WIDTH="38" HPOS="441" VPOS="1061" ID="st5-388"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="479" VPOS="1061" ID="st5-389"/><SP/><String HEIGHT="24" CONTENT="erreurs" WIDTH="65" HPOS="497" VPOS="1061" ID="st5-390"/><SP/><String HEIGHT="24" CONTENT="et" WIDTH="17" HPOS="570" VPOS="1061" ID="st5-391"/><SP/><String HEIGHT="24" CONTENT="impasses" WIDTH="82" HPOS="595" VPOS="1061" ID="st5-392"/><SP/><String HEIGHT="24" CONTENT="de" WIDTH="22" HPOS="685" VPOS="1061" ID="st5-393"/><SP/><String HEIGHT="24" CONTENT="l" WIDTH="10" HPOS="715" VPOS="1061" ID="st5-394"/><String HEIGHT="24" CONTENT="’" WIDTH="10" HPOS="725" VPOS="1061" ID="st5-395"/><String HEIGHT="24" CONTENT="Européisme," WIDTH="110" HPOS="735" VPOS="1061" ID="st5-396"/><String HEIGHT="24" CONTENT="«" WIDTH="10" HPOS="845" VPOS="1061" ID="st5-397"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="17" HPOS="863" VPOS="1061" ID="st5-398"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="880" VPOS="1061" ID="st5-399"/></TextLine><TextLine HPOS="129" VPOS="1090" ID="tl5-50" WIDTH="387" HEIGHT="23"><String HEIGHT="23" CONTENT="Perspectives" WIDTH="98" HPOS="129" VPOS="1090" ID="st5-400"/><SP/><String HEIGHT="23" CONTENT="Républicaines" WIDTH="115" HPOS="233" VPOS="1090" ID="st5-401"/><String HEIGHT="23" CONTENT="," WIDTH="9" HPOS="348" VPOS="1090" ID="st5-402"/><SP/><String HEIGHT="24" CONTENT="2" WIDTH="10" HPOS="363" VPOS="1089" ID="st5-403"/><String HEIGHT="24" CONTENT="(" WIDTH="9" HPOS="379" VPOS="1089" ID="st5-404"/><String HEIGHT="24" CONTENT="June" WIDTH="39" HPOS="388" VPOS="1089" ID="st5-405"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="427" VPOS="1089" ID="st5-406"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="437" VPOS="1089" ID="st5-407"/><SP/><String HEIGHT="24" CONTENT="69–84" WIDTH="53" HPOS="452" VPOS="1089" ID="st5-408"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="505" VPOS="1089" ID="st5-409"/></TextLine><TextLine HPOS="94" VPOS="1117" ID="tl5-51" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="13" WIDTH="15" HPOS="94" VPOS="1117" ID="st5-410"/><String HEIGHT="24" CONTENT="." WIDTH="8" HPOS="109" VPOS="1117" ID="st5-411"/><SP/><String HEIGHT="24" CONTENT="See" WIDTH="32" HPOS="129" VPOS="1117" ID="st5-412"/><SP/><String HEIGHT="24" CONTENT="Akerlof" WIDTH="66" HPOS="167" VPOS="1117" ID="st5-413"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="233" VPOS="1117" ID="st5-414"/><SP/><String HEIGHT="24" CONTENT="G" WIDTH="10" HPOS="248" VPOS="1117" ID="st5-415"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="258" VPOS="1117" ID="st5-416"/><String HEIGHT="24" CONTENT="A" WIDTH="10" HPOS="268" VPOS="1117" ID="st5-417"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="278" VPOS="1117" ID="st5-418"/><String HEIGHT="24" CONTENT="," WIDTH="11" HPOS="288" VPOS="1117" ID="st5-419"/><SP/><String HEIGHT="24" CONTENT="W" WIDTH="10" HPOS="305" VPOS="1117" ID="st5-420"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="315" VPOS="1117" ID="st5-421"/><String HEIGHT="24" CONTENT="T" WIDTH="11" HPOS="326" VPOS="1117" ID="st5-422"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="337" VPOS="1117" ID="st5-423"/><SP/><String HEIGHT="24" CONTENT="Dickens" WIDTH="70" HPOS="354" VPOS="1117" ID="st5-424"/><String HEIGHT="24" CONTENT="," WIDTH="11" HPOS="424" VPOS="1117" ID="st5-425"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="35" HPOS="441" VPOS="1117" ID="st5-426"/><SP/><String HEIGHT="24" CONTENT="G" WIDTH="10" HPOS="482" VPOS="1117" ID="st5-427"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="492" VPOS="1117" ID="st5-428"/><String HEIGHT="24" CONTENT="L" WIDTH="10" HPOS="503" VPOS="1117" ID="st5-429"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="513" VPOS="1117" ID="st5-430"/><SP/><String HEIGHT="24" CONTENT="Perry" WIDTH="48" HPOS="530" VPOS="1117" ID="st5-431"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="578" VPOS="1117" ID="st5-432"/><String HEIGHT="24" CONTENT="1996" WIDTH="38" HPOS="588" VPOS="1117" ID="st5-433"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="626" VPOS="1117" ID="st5-434"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="636" VPOS="1117" ID="st5-435"/><String HEIGHT="24" CONTENT="»" WIDTH="11" HPOS="652" VPOS="1117" ID="st5-436"/><String HEIGHT="24" CONTENT="The" WIDTH="35" HPOS="663" VPOS="1117" ID="st5-437"/><SP/><String HEIGHT="24" CONTENT="Macroeconomics" WIDTH="160" HPOS="704" VPOS="1117" ID="st5-438"/><SP/><String HEIGHT="24" CONTENT="of" WIDTH="19" HPOS="870" VPOS="1117" ID="st5-439"/></TextLine><TextLine HPOS="129" VPOS="1145" ID="tl5-52" WIDTH="760" HEIGHT="24"><String HEIGHT="24" CONTENT="Low" WIDTH="44" HPOS="129" VPOS="1145" ID="st5-440"/><SP/><String HEIGHT="24" CONTENT="Inflation," WIDTH="89" HPOS="177" VPOS="1145" ID="st5-441"/><String HEIGHT="24" CONTENT="«" WIDTH="8" HPOS="266" VPOS="1145" ID="st5-442"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="17" HPOS="279" VPOS="1145" ID="st5-443"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="296" VPOS="1145" ID="st5-444"/><SP/><String HEIGHT="24" CONTENT="Brookings" WIDTH="97" HPOS="310" VPOS="1145" ID="st5-445"/><SP/><String HEIGHT="24" CONTENT="Papers" WIDTH="61" HPOS="411" VPOS="1145" ID="st5-446"/><SP/><String HEIGHT="24" CONTENT="on" WIDTH="24" HPOS="477" VPOS="1145" ID="st5-447"/><SP/><String HEIGHT="24" CONTENT="Economic" WIDTH="96" HPOS="506" VPOS="1145" ID="st5-448"/><SP/><String HEIGHT="24" CONTENT="Activity" WIDTH="72" HPOS="606" VPOS="1145" ID="st5-449"/><SP/><String HEIGHT="24" CONTENT="No" WIDTH="24" HPOS="683" VPOS="1145" ID="st5-450"/><String HEIGHT="24" CONTENT="." WIDTH="13" HPOS="707" VPOS="1145" ID="st5-451"/><SP/><String HEIGHT="24" CONTENT="1" WIDTH="8" HPOS="724" VPOS="1145" ID="st5-452"/><String HEIGHT="24" CONTENT=":" WIDTH="8" HPOS="732" VPOS="1145" ID="st5-453"/><SP/><String HEIGHT="24" CONTENT="1–59" WIDTH="36" HPOS="744" VPOS="1145" ID="st5-454"/><String HEIGHT="24" CONTENT=";" WIDTH="10" HPOS="780" VPOS="1145" ID="st5-455"/><SP/><String HEIGHT="24" CONTENT="Andersen" WIDTH="84" HPOS="794" VPOS="1145" ID="st5-456"/><String HEIGHT="24" CONTENT="," WIDTH="11" HPOS="878" VPOS="1145" ID="st5-457"/></TextLine><TextLine HPOS="129" VPOS="1173" ID="tl5-53" WIDTH="691" HEIGHT="23"><String HEIGHT="23" CONTENT="T" WIDTH="11" HPOS="129" VPOS="1173" ID="st5-458"/><String HEIGHT="23" CONTENT="." WIDTH="12" HPOS="140" VPOS="1173" ID="st5-459"/><String HEIGHT="23" CONTENT="M" WIDTH="11" HPOS="152" VPOS="1173" ID="st5-460"/><String HEIGHT="23" CONTENT="." WIDTH="12" HPOS="163" VPOS="1173" ID="st5-461"/><String HEIGHT="23" CONTENT="(" WIDTH="9" HPOS="181" VPOS="1173" ID="st5-462"/><String HEIGHT="23" CONTENT="2001" WIDTH="40" HPOS="190" VPOS="1173" ID="st5-463"/><String HEIGHT="23" CONTENT=")" WIDTH="10" HPOS="230" VPOS="1173" ID="st5-464"/><String HEIGHT="23" CONTENT=":" WIDTH="10" HPOS="240" VPOS="1173" ID="st5-465"/><String HEIGHT="23" CONTENT="»" WIDTH="12" HPOS="255" VPOS="1173" ID="st5-466"/><String HEIGHT="23" CONTENT="Can" WIDTH="37" HPOS="267" VPOS="1173" ID="st5-467"/><SP/><String HEIGHT="23" CONTENT="Inflation" WIDTH="81" HPOS="310" VPOS="1173" ID="st5-468"/><SP/><String HEIGHT="23" CONTENT="Be" WIDTH="24" HPOS="397" VPOS="1173" ID="st5-469"/><SP/><String HEIGHT="23" CONTENT="Too" WIDTH="37" HPOS="426" VPOS="1173" ID="st5-470"/><SP/><String HEIGHT="23" CONTENT="Low" WIDTH="34" HPOS="469" VPOS="1173" ID="st5-471"/><String HEIGHT="23" CONTENT="?" WIDTH="11" HPOS="503" VPOS="1173" ID="st5-472"/><String HEIGHT="23" CONTENT="," WIDTH="11" HPOS="514" VPOS="1173" ID="st5-473"/><String HEIGHT="23" CONTENT="«" WIDTH="12" HPOS="525" VPOS="1173" ID="st5-474"/><SP/><String HEIGHT="23" CONTENT="in" WIDTH="18" HPOS="542" VPOS="1173" ID="st5-475"/><SP/><String HEIGHT="22" CONTENT="Kyklos" WIDTH="50" HPOS="566" VPOS="1174" ID="st5-476"/><String HEIGHT="22" CONTENT="," WIDTH="9" HPOS="616" VPOS="1174" ID="st5-477"/><SP/><String HEIGHT="23" CONTENT="54" WIDTH="17" HPOS="631" VPOS="1173" ID="st5-478"/><String HEIGHT="23" CONTENT="," WIDTH="9" HPOS="648" VPOS="1173" ID="st5-479"/><SP/><String HEIGHT="23" CONTENT="Fasc" WIDTH="36" HPOS="663" VPOS="1173" ID="st5-480"/><String HEIGHT="23" CONTENT="." WIDTH="10" HPOS="699" VPOS="1173" ID="st5-481"/><SP/><String HEIGHT="23" CONTENT="4" WIDTH="10" HPOS="714" VPOS="1173" ID="st5-482"/><String HEIGHT="23" CONTENT=":" WIDTH="11" HPOS="724" VPOS="1173" ID="st5-483"/><SP/><String HEIGHT="23" CONTENT="591–602" WIDTH="70" HPOS="740" VPOS="1173" ID="st5-484"/><String HEIGHT="23" CONTENT="." WIDTH="10" HPOS="810" VPOS="1173" ID="st5-485"/></TextLine><TextLine HPOS="94" VPOS="1200" ID="tl5-54" WIDTH="796" HEIGHT="24"><String HEIGHT="24" CONTENT="14" WIDTH="17" HPOS="94" VPOS="1200" ID="st5-486"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="111" VPOS="1200" ID="st5-487"/><SP/><String HEIGHT="24" CONTENT="Cachia" WIDTH="60" HPOS="129" VPOS="1200" ID="st5-488"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="189" VPOS="1200" ID="st5-489"/><SP/><String HEIGHT="24" CONTENT="F" WIDTH="8" HPOS="204" VPOS="1200" ID="st5-490"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="212" VPOS="1200" ID="st5-491"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="226" VPOS="1200" ID="st5-492"/><String HEIGHT="24" CONTENT="2008" WIDTH="40" HPOS="236" VPOS="1200" ID="st5-493"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="276" VPOS="1200" ID="st5-494"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="286" VPOS="1200" ID="st5-495"/><String HEIGHT="24" CONTENT="»" WIDTH="10" HPOS="302" VPOS="1200" ID="st5-496"/><String HEIGHT="24" CONTENT="Les" WIDTH="33" HPOS="312" VPOS="1200" ID="st5-497"/><SP/><String HEIGHT="24" CONTENT="effets" WIDTH="49" HPOS="350" VPOS="1200" ID="st5-498"/><SP/><String HEIGHT="24" CONTENT="de" WIDTH="22" HPOS="404" VPOS="1200" ID="st5-499"/><SP/><String HEIGHT="24" CONTENT="l" WIDTH="9" HPOS="431" VPOS="1200" ID="st5-500"/><String HEIGHT="24" CONTENT="’" WIDTH="9" HPOS="440" VPOS="1200" ID="st5-501"/><String HEIGHT="24" CONTENT="appréciation" WIDTH="108" HPOS="449" VPOS="1200" ID="st5-502"/><SP/><String HEIGHT="24" CONTENT="de" WIDTH="23" HPOS="562" VPOS="1200" ID="st5-503"/><SP/><String HEIGHT="24" CONTENT="l" WIDTH="9" HPOS="589" VPOS="1200" ID="st5-504"/><String HEIGHT="24" CONTENT="’" WIDTH="10" HPOS="598" VPOS="1200" ID="st5-505"/><String HEIGHT="24" CONTENT="Euro" WIDTH="40" HPOS="608" VPOS="1200" ID="st5-506"/><SP/><String HEIGHT="24" CONTENT="sur" WIDTH="29" HPOS="653" VPOS="1200" ID="st5-507"/><SP/><String HEIGHT="24" CONTENT="l" WIDTH="10" HPOS="687" VPOS="1200" ID="st5-508"/><String HEIGHT="24" CONTENT="’" WIDTH="10" HPOS="697" VPOS="1200" ID="st5-509"/><String HEIGHT="24" CONTENT="économie" WIDTH="81" HPOS="707" VPOS="1200" ID="st5-510"/><SP/><String HEIGHT="24" CONTENT="française," WIDTH="88" HPOS="793" VPOS="1200" ID="st5-511"/><String HEIGHT="24" CONTENT="«" WIDTH="9" HPOS="881" VPOS="1200" ID="st5-512"/></TextLine><TextLine HPOS="129" VPOS="1228" ID="tl5-55" WIDTH="287" HEIGHT="24"><String HEIGHT="24" CONTENT="in" WIDTH="17" HPOS="129" VPOS="1228" ID="st5-513"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="146" VPOS="1228" ID="st5-514"/><SP/><String HEIGHT="23" CONTENT="Note" WIDTH="41" HPOS="161" VPOS="1229" ID="st5-515"/><SP/><String HEIGHT="23" CONTENT="de" WIDTH="19" HPOS="207" VPOS="1229" ID="st5-516"/><SP/><String HEIGHT="23" CONTENT="Synthèse" WIDTH="72" HPOS="232" VPOS="1229" ID="st5-517"/><SP/><String HEIGHT="23" CONTENT="de" WIDTH="19" HPOS="310" VPOS="1229" ID="st5-518"/><SP/><String HEIGHT="23" CONTENT="l" WIDTH="10" HPOS="334" VPOS="1229" ID="st5-519"/><String HEIGHT="23" CONTENT="’" WIDTH="10" HPOS="344" VPOS="1229" ID="st5-520"/><String HEIGHT="23" CONTENT="INSEE" WIDTH="51" HPOS="354" VPOS="1229" ID="st5-521"/><String HEIGHT="23" CONTENT="," WIDTH="11" HPOS="405" VPOS="1229" ID="st5-522"/></TextLine><TextLine HPOS="421" VPOS="1233" ID="tl5-56" WIDTH="57" HEIGHT="12"><String HEIGHT="12" CONTENT="insee" WIDTH="57" HPOS="421" VPOS="1233" ID="st5-523"/></TextLine><TextLine HPOS="478" VPOS="1228" ID="tl5-57" WIDTH="156" HEIGHT="24"><String HEIGHT="24" CONTENT="," WIDTH="6" HPOS="478" VPOS="1228" ID="st5-524"/><SP/><String HEIGHT="24" CONTENT="Paris" WIDTH="44" HPOS="490" VPOS="1228" ID="st5-525"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="540" VPOS="1228" ID="st5-526"/><String HEIGHT="24" CONTENT="June" WIDTH="42" HPOS="550" VPOS="1228" ID="st5-527"/><SP/><String HEIGHT="24" CONTENT="20" WIDTH="18" HPOS="597" VPOS="1228" ID="st5-528"/><String HEIGHT="24" CONTENT=")" WIDTH="9" HPOS="615" VPOS="1228" ID="st5-529"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="624" VPOS="1228" ID="st5-530"/></TextLine><TextLine HPOS="94" VPOS="1256" ID="tl5-58" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="15" WIDTH="14" HPOS="94" VPOS="1256" ID="st5-531"/><String HEIGHT="24" CONTENT="." WIDTH="8" HPOS="108" VPOS="1256" ID="st5-532"/><SP/><String HEIGHT="24" CONTENT="Bibow" WIDTH="55" HPOS="129" VPOS="1256" ID="st5-533"/><String HEIGHT="24" CONTENT="," WIDTH="12" HPOS="184" VPOS="1256" ID="st5-534"/><SP/><String HEIGHT="24" CONTENT="J" WIDTH="7" HPOS="200" VPOS="1256" ID="st5-535"/><String HEIGHT="24" CONTENT="." WIDTH="7" HPOS="207" VPOS="1256" ID="st5-536"/><String HEIGHT="24" CONTENT=":" WIDTH="7" HPOS="214" VPOS="1256" ID="st5-537"/><String HEIGHT="24" CONTENT="»" WIDTH="10" HPOS="225" VPOS="1256" ID="st5-538"/><String HEIGHT="24" CONTENT="Global" WIDTH="65" HPOS="235" VPOS="1256" ID="st5-539"/><SP/><String HEIGHT="24" CONTENT="Imbalances" WIDTH="100" HPOS="304" VPOS="1256" ID="st5-540"/><String HEIGHT="24" CONTENT="," WIDTH="11" HPOS="404" VPOS="1256" ID="st5-541"/><SP/><String HEIGHT="24" CONTENT="Bretton" WIDTH="71" HPOS="420" VPOS="1256" ID="st5-542"/><SP/><String HEIGHT="24" CONTENT="Woods" WIDTH="66" HPOS="495" VPOS="1256" ID="st5-543"/><SP/><String HEIGHT="24" CONTENT="II" WIDTH="17" HPOS="566" VPOS="1256" ID="st5-544"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="35" HPOS="587" VPOS="1256" ID="st5-545"/><SP/><String HEIGHT="24" CONTENT="Euroland" WIDTH="80" HPOS="626" VPOS="1256" ID="st5-546"/><String HEIGHT="24" CONTENT="’" WIDTH="10" HPOS="706" VPOS="1256" ID="st5-547"/><String HEIGHT="24" CONTENT="s" WIDTH="11" HPOS="716" VPOS="1256" ID="st5-548"/><SP/><String HEIGHT="24" CONTENT="Role" WIDTH="44" HPOS="731" VPOS="1256" ID="st5-549"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="19" HPOS="779" VPOS="1256" ID="st5-550"/><SP/><String HEIGHT="24" CONTENT="All" WIDTH="27" HPOS="802" VPOS="1256" ID="st5-551"/><SP/><String HEIGHT="24" CONTENT="This," WIDTH="46" HPOS="833" VPOS="1256" ID="st5-552"/><String HEIGHT="24" CONTENT="«" WIDTH="10" HPOS="879" VPOS="1256" ID="st5-553"/></TextLine><TextLine HPOS="129" VPOS="1284" ID="tl5-59" WIDTH="760" HEIGHT="23"><String HEIGHT="23" CONTENT="in" WIDTH="19" HPOS="129" VPOS="1284" ID="st5-554"/><SP/><String HEIGHT="23" CONTENT="Bibow" WIDTH="55" HPOS="155" VPOS="1284" ID="st5-555"/><String HEIGHT="23" CONTENT="," WIDTH="12" HPOS="210" VPOS="1284" ID="st5-556"/><SP/><String HEIGHT="23" CONTENT="J" WIDTH="7" HPOS="229" VPOS="1284" ID="st5-557"/><String HEIGHT="23" CONTENT="." WIDTH="7" HPOS="236" VPOS="1284" ID="st5-558"/><SP/><String HEIGHT="23" CONTENT="and" WIDTH="35" HPOS="250" VPOS="1284" ID="st5-559"/><SP/><String HEIGHT="23" CONTENT="A" WIDTH="11" HPOS="291" VPOS="1284" ID="st5-560"/><String HEIGHT="23" CONTENT="." WIDTH="11" HPOS="302" VPOS="1284" ID="st5-561"/><SP/><String HEIGHT="23" CONTENT="Terzi" WIDTH="46" HPOS="320" VPOS="1284" ID="st5-562"/><String HEIGHT="23" CONTENT="(" WIDTH="8" HPOS="374" VPOS="1284" ID="st5-563"/><String HEIGHT="23" CONTENT="eds" WIDTH="26" HPOS="382" VPOS="1284" ID="st5-564"/><String HEIGHT="23" CONTENT="." WIDTH="9" HPOS="408" VPOS="1284" ID="st5-565"/><String HEIGHT="23" CONTENT=")" WIDTH="9" HPOS="417" VPOS="1284" ID="st5-566"/><String HEIGHT="23" CONTENT="(" WIDTH="10" HPOS="433" VPOS="1284" ID="st5-567"/><String HEIGHT="23" CONTENT="2007" WIDTH="40" HPOS="443" VPOS="1284" ID="st5-568"/><String HEIGHT="23" CONTENT=")" WIDTH="10" HPOS="483" VPOS="1284" ID="st5-569"/><String HEIGHT="23" CONTENT=":" WIDTH="11" HPOS="493" VPOS="1284" ID="st5-570"/><SP/><String HEIGHT="22" CONTENT="Euroland" WIDTH="84" HPOS="511" VPOS="1285" ID="st5-571"/><SP/><String HEIGHT="22" CONTENT="and" WIDTH="35" HPOS="602" VPOS="1285" ID="st5-572"/><SP/><String HEIGHT="22" CONTENT="the" WIDTH="26" HPOS="644" VPOS="1285" ID="st5-573"/><SP/><String HEIGHT="22" CONTENT="World" WIDTH="55" HPOS="678" VPOS="1285" ID="st5-574"/><SP/><String HEIGHT="22" CONTENT="Economy" WIDTH="73" HPOS="740" VPOS="1285" ID="st5-575"/><String HEIGHT="22" CONTENT=":" WIDTH="11" HPOS="813" VPOS="1285" ID="st5-576"/><SP/><String HEIGHT="22" CONTENT="Global" WIDTH="57" HPOS="832" VPOS="1285" ID="st5-577"/></TextLine><TextLine HPOS="129" VPOS="1313" ID="tl5-60" WIDTH="512" HEIGHT="22"><String HEIGHT="22" CONTENT="Player" WIDTH="56" HPOS="129" VPOS="1313" ID="st5-578"/><SP/><String HEIGHT="22" CONTENT="or" WIDTH="18" HPOS="190" VPOS="1313" ID="st5-579"/><SP/><String HEIGHT="22" CONTENT="Global" WIDTH="58" HPOS="213" VPOS="1313" ID="st5-580"/><SP/><String HEIGHT="22" CONTENT="Drag" WIDTH="41" HPOS="277" VPOS="1313" ID="st5-581"/><String HEIGHT="22" CONTENT="?" WIDTH="10" HPOS="318" VPOS="1313" ID="st5-582"/><String HEIGHT="22" CONTENT="," WIDTH="11" HPOS="328" VPOS="1313" ID="st5-583"/><SP/><String HEIGHT="24" CONTENT="New" WIDTH="46" HPOS="344" VPOS="1311" ID="st5-584"/><SP/><String HEIGHT="24" CONTENT="York" WIDTH="40" HPOS="395" VPOS="1311" ID="st5-585"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="435" VPOS="1311" ID="st5-586"/><SP/><String HEIGHT="24" CONTENT="Palgrave" WIDTH="78" HPOS="452" VPOS="1311" ID="st5-587"/><SP/><String HEIGHT="24" CONTENT="Macmillan" WIDTH="95" HPOS="535" VPOS="1311" ID="st5-588"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="630" VPOS="1311" ID="st5-589"/></TextLine><TextLine HPOS="94" VPOS="1398" ID="tl5-61" WIDTH="30" HEIGHT="11"><String HEIGHT="11" CONTENT="ipg" WIDTH="30" HPOS="94" VPOS="1398" ID="st5-590"/></TextLine><TextLine HPOS="128" VPOS="1394" ID="tl5-62" WIDTH="56" HEIGHT="21"><String HEIGHT="21" CONTENT="1/2009" WIDTH="56" HPOS="128" VPOS="1394" ID="st5-591"/></TextLine><TextLine HPOS="697" VPOS="1395" ID="tl5-63" WIDTH="152" HEIGHT="18"><String HEIGHT="18" CONTENT="Sapir" WIDTH="33" HPOS="697" VPOS="1395" ID="st5-592"/><String HEIGHT="18" CONTENT="," WIDTH="7" HPOS="730" VPOS="1395" ID="st5-593"/><SP/><String HEIGHT="18" CONTENT="Financial" WIDTH="64" HPOS="741" VPOS="1395" ID="st5-594"/><SP/><String HEIGHT="18" CONTENT="Crisis" WIDTH="39" HPOS="810" VPOS="1395" ID="st5-595"/></TextLine><TextLine HPOS="869" VPOS="1388" ID="tl5-64" WIDTH="20" HEIGHT="29"><String HEIGHT="29" CONTENT="31" WIDTH="20" HPOS="869" VPOS="1388" ID="st5-596"/></TextLine></TextBlock></PrintSpace></Page><Page WIDTH="984" PHYSICAL_IMG_NR="6" ID="p658174" HEIGHT="1472"><PrintSpace WIDTH="984" HPOS="0" VPOS="0" ID="ps658174" HEIGHT="1472"><TextBlock WIDTH="984" HPOS="0" VPOS="0" ID="tb658174" HEIGHT="1472"><TextLine HPOS="94" VPOS="94" ID="tl6-0" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="liberal" WIDTH="70" HPOS="94" VPOS="94" ID="st6-0"/><String HEIGHT="28" CONTENT="«" WIDTH="11" HPOS="164" VPOS="94" ID="st6-1"/><SP/><String HEIGHT="28" CONTENT="capitalist" WIDTH="97" HPOS="181" VPOS="94" ID="st6-2"/><SP/><String HEIGHT="28" CONTENT="model" WIDTH="65" HPOS="284" VPOS="94" ID="st6-3"/><String HEIGHT="28" CONTENT="," WIDTH="13" HPOS="349" VPOS="94" ID="st6-4"/><SP/><String HEIGHT="28" CONTENT="with" WIDTH="50" HPOS="368" VPOS="94" ID="st6-5"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="424" VPOS="94" ID="st6-6"/><SP/><String HEIGHT="28" CONTENT="highly" WIDTH="70" HPOS="442" VPOS="94" ID="st6-7"/><SP/><String HEIGHT="28" CONTENT="developed" WIDTH="113" HPOS="518" VPOS="94" ID="st6-8"/><SP/><String HEIGHT="28" CONTENT="mortgage" WIDTH="107" HPOS="637" VPOS="94" ID="st6-9"/><SP/><String HEIGHT="28" CONTENT="system" WIDTH="75" HPOS="750" VPOS="94" ID="st6-10"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="831" VPOS="94" ID="st6-11"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="878" VPOS="94" ID="st6-12"/></TextLine><TextLine HPOS="94" VPOS="126" ID="tl6-1" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="finance" WIDTH="77" HPOS="94" VPOS="126" ID="st6-13"/><String HEIGHT="28" CONTENT="-" WIDTH="11" HPOS="171" VPOS="126" ID="st6-14"/><String HEIGHT="28" CONTENT="led" WIDTH="33" HPOS="182" VPOS="126" ID="st6-15"/><SP/><String HEIGHT="28" CONTENT="economy" WIDTH="93" HPOS="223" VPOS="126" ID="st6-16"/><String HEIGHT="28" CONTENT="." WIDTH="14" HPOS="316" VPOS="126" ID="st6-17"/><SP/><String HEIGHT="28" CONTENT="Household" WIDTH="125" HPOS="339" VPOS="126" ID="st6-18"/><SP/><String HEIGHT="28" CONTENT="indebtedness" WIDTH="144" HPOS="472" VPOS="126" ID="st6-19"/><SP/><String HEIGHT="28" CONTENT="soared" WIDTH="72" HPOS="624" VPOS="126" ID="st6-20"/><SP/><String HEIGHT="28" CONTENT="as" WIDTH="21" HPOS="705" VPOS="126" ID="st6-21"/><SP/><String HEIGHT="28" CONTENT="savings" WIDTH="80" HPOS="734" VPOS="126" ID="st6-22"/><SP/><String HEIGHT="28" CONTENT="plum" WIDTH="54" HPOS="822" VPOS="126" ID="st6-23" SUBS_TYPE="HypPart1" SUBS_CONTENT="plummeted"/><HYP CONTENT="-" WIDTH="13" HPOS="876" VPOS="126" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="158" ID="tl6-2" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="meted" WIDTH="64" HPOS="94" VPOS="158" ID="st6-24" SUBS_TYPE="HypPart2" SUBS_CONTENT="plummeted"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="158" VPOS="158" ID="st6-25"/><SP/><String HEIGHT="28" CONTENT="They" WIDTH="56" HPOS="178" VPOS="158" ID="st6-26"/><SP/><String HEIGHT="28" CONTENT="are" WIDTH="33" HPOS="243" VPOS="158" ID="st6-27"/><SP/><String HEIGHT="28" CONTENT="now" WIDTH="49" HPOS="284" VPOS="158" ID="st6-28"/><SP/><String HEIGHT="28" CONTENT="among" WIDTH="77" HPOS="341" VPOS="158" ID="st6-29"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="427" VPOS="158" ID="st6-30"/><SP/><String HEIGHT="28" CONTENT="countries" WIDTH="102" HPOS="470" VPOS="158" ID="st6-31"/><SP/><String HEIGHT="28" CONTENT="worst" WIDTH="63" HPOS="580" VPOS="158" ID="st6-32"/><SP/><String HEIGHT="28" CONTENT="hit" WIDTH="30" HPOS="652" VPOS="158" ID="st6-33"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="28" HPOS="690" VPOS="158" ID="st6-34"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="726" VPOS="158" ID="st6-35"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="53" HPOS="769" VPOS="158" ID="st6-36"/><String HEIGHT="28" CONTENT="." WIDTH="9" HPOS="822" VPOS="158" ID="st6-37"/><SP/><String HEIGHT="28" CONTENT="Ger" WIDTH="38" HPOS="839" VPOS="158" ID="st6-38" SUBS_TYPE="HypPart1" SUBS_CONTENT="Germany"/><HYP CONTENT="-" WIDTH="12" HPOS="877" VPOS="158" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="190" ID="tl6-3" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="many" WIDTH="62" HPOS="94" VPOS="190" ID="st6-39" SUBS_TYPE="HypPart2" SUBS_CONTENT="Germany"/><SP/><String HEIGHT="28" CONTENT="avoided" WIDTH="88" HPOS="165" VPOS="190" ID="st6-40"/><SP/><String HEIGHT="28" CONTENT="wage" WIDTH="49" HPOS="263" VPOS="190" ID="st6-41"/><String HEIGHT="28" CONTENT="-" WIDTH="12" HPOS="312" VPOS="190" ID="st6-42"/><String HEIGHT="28" CONTENT="led" WIDTH="38" HPOS="324" VPOS="190" ID="st6-43"/><SP/><String HEIGHT="28" CONTENT="deflation" WIDTH="99" HPOS="372" VPOS="190" ID="st6-44"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="28" HPOS="480" VPOS="190" ID="st6-45"/><SP/><String HEIGHT="28" CONTENT="adopting" WIDTH="101" HPOS="517" VPOS="190" ID="st6-46"/><SP/><String HEIGHT="28" CONTENT="what" WIDTH="55" HPOS="628" VPOS="190" ID="st6-47"/><SP/><String HEIGHT="28" CONTENT="might" WIDTH="68" HPOS="692" VPOS="190" ID="st6-48"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="27" HPOS="769" VPOS="190" ID="st6-49"/><SP/><String HEIGHT="28" CONTENT="called" WIDTH="63" HPOS="805" VPOS="190" ID="st6-50"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="878" VPOS="190" ID="st6-51"/></TextLine><TextLine HPOS="94" VPOS="222" ID="tl6-4" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="neo" WIDTH="33" HPOS="94" VPOS="222" ID="st6-52"/><String HEIGHT="28" CONTENT="-" WIDTH="12" HPOS="127" VPOS="222" ID="st6-53"/><String HEIGHT="28" CONTENT="mercantilist" WIDTH="135" HPOS="139" VPOS="222" ID="st6-54"/><SP/><String HEIGHT="28" CONTENT="model" WIDTH="64" HPOS="284" VPOS="222" ID="st6-55"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="348" VPOS="222" ID="st6-56"/><SP/><String HEIGHT="28" CONTENT="In" WIDTH="25" HPOS="371" VPOS="222" ID="st6-57"/><SP/><String HEIGHT="28" CONTENT="industry" WIDTH="87" HPOS="405" VPOS="222" ID="st6-58"/><String HEIGHT="28" CONTENT="," WIDTH="11" HPOS="492" VPOS="222" ID="st6-59"/><SP/><String HEIGHT="28" CONTENT="sub" WIDTH="37" HPOS="512" VPOS="222" ID="st6-60"/><String HEIGHT="28" CONTENT="-" WIDTH="12" HPOS="549" VPOS="222" ID="st6-61"/><String HEIGHT="28" CONTENT="assembly" WIDTH="99" HPOS="561" VPOS="222" ID="st6-62"/><SP/><String HEIGHT="28" CONTENT="production" WIDTH="125" HPOS="669" VPOS="222" ID="st6-63"/><SP/><String HEIGHT="28" CONTENT="was" WIDTH="41" HPOS="804" VPOS="222" ID="st6-64"/><SP/><String HEIGHT="28" CONTENT="de" WIDTH="24" HPOS="854" VPOS="222" ID="st6-65" SUBS_TYPE="HypPart1" SUBS_CONTENT="delocalized"/><HYP CONTENT="-" WIDTH="11" HPOS="878" VPOS="222" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="254" ID="tl6-5" WIDTH="124" HEIGHT="28"><String HEIGHT="28" CONTENT="localized" WIDTH="96" HPOS="94" VPOS="254" ID="st6-66" SUBS_TYPE="HypPart2" SUBS_CONTENT="delocalized"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="196" VPOS="254" ID="st6-67"/></TextLine><TextLine HPOS="224" VPOS="260" ID="tl6-6" WIDTH="32" HEIGHT="14"><String HEIGHT="14" CONTENT="eu" WIDTH="32" HPOS="224" VPOS="260" ID="st6-68"/></TextLine><TextLine HPOS="261" VPOS="254" ID="tl6-7" WIDTH="629" HEIGHT="28"><String HEIGHT="28" CONTENT="»" WIDTH="15" HPOS="261" VPOS="254" ID="st6-69"/><String HEIGHT="28" CONTENT="new" WIDTH="45" HPOS="276" VPOS="254" ID="st6-70"/><SP/><String HEIGHT="28" CONTENT="entrant" WIDTH="80" HPOS="327" VPOS="254" ID="st6-71"/><String HEIGHT="28" CONTENT="«" WIDTH="12" HPOS="407" VPOS="254" ID="st6-72"/><SP/><String HEIGHT="28" CONTENT="countries" WIDTH="99" HPOS="424" VPOS="254" ID="st6-73"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="523" VPOS="254" ID="st6-74"/><SP/><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="539" VPOS="254" ID="st6-75"/><SP/><String HEIGHT="28" CONTENT="famed" WIDTH="68" HPOS="589" VPOS="254" ID="st6-76"/><String HEIGHT="28" CONTENT="»" WIDTH="15" HPOS="663" VPOS="254" ID="st6-77"/><String HEIGHT="28" CONTENT="Made" WIDTH="61" HPOS="678" VPOS="254" ID="st6-78"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="745" VPOS="254" ID="st6-79"/><SP/><String HEIGHT="28" CONTENT="Germany" WIDTH="102" HPOS="773" VPOS="254" ID="st6-80"/><String HEIGHT="28" CONTENT="«" WIDTH="15" HPOS="875" VPOS="254" ID="st6-81"/></TextLine><TextLine HPOS="94" VPOS="286" ID="tl6-8" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="label" WIDTH="52" HPOS="94" VPOS="286" ID="st6-82"/><SP/><String HEIGHT="28" CONTENT="was" WIDTH="41" HPOS="153" VPOS="286" ID="st6-83"/><SP/><String HEIGHT="28" CONTENT="progressively" WIDTH="145" HPOS="202" VPOS="286" ID="st6-84"/><SP/><String HEIGHT="28" CONTENT="replaced" WIDTH="92" HPOS="355" VPOS="286" ID="st6-85"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="27" HPOS="454" VPOS="286" ID="st6-86"/><String HEIGHT="28" CONTENT="»" WIDTH="15" HPOS="489" VPOS="286" ID="st6-87"/><String HEIGHT="28" CONTENT="Made" WIDTH="62" HPOS="504" VPOS="286" ID="st6-88"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="27" HPOS="573" VPOS="286" ID="st6-89"/><SP/><String HEIGHT="28" CONTENT="Germany," WIDTH="107" HPOS="608" VPOS="286" ID="st6-90"/><String HEIGHT="28" CONTENT="«" WIDTH="14" HPOS="715" VPOS="286" ID="st6-91"/><SP/><String HEIGHT="28" CONTENT="enabling" WIDTH="95" HPOS="736" VPOS="286" ID="st6-92"/><SP/><String HEIGHT="28" CONTENT="Ger" WIDTH="38" HPOS="839" VPOS="286" ID="st6-93" SUBS_TYPE="HypPart1" SUBS_CONTENT="Germany"/><HYP CONTENT="-" WIDTH="12" HPOS="877" VPOS="286" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="318" ID="tl6-9" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="many" WIDTH="61" HPOS="94" VPOS="318" ID="st6-94" SUBS_TYPE="HypPart2" SUBS_CONTENT="Germany"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="161" VPOS="318" ID="st6-95"/><SP/><String HEIGHT="28" CONTENT="maintain" WIDTH="98" HPOS="189" VPOS="318" ID="st6-96"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="293" VPOS="318" ID="st6-97"/><SP/><String HEIGHT="28" CONTENT="huge" WIDTH="55" HPOS="309" VPOS="318" ID="st6-98"/><SP/><String HEIGHT="28" CONTENT="trade" WIDTH="56" HPOS="370" VPOS="318" ID="st6-99"/><SP/><String HEIGHT="28" CONTENT="surplus" WIDTH="76" HPOS="431" VPOS="318" ID="st6-100"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="507" VPOS="318" ID="st6-101"/><SP/><String HEIGHT="28" CONTENT="However" WIDTH="96" HPOS="523" VPOS="318" ID="st6-102"/><String HEIGHT="28" CONTENT="," WIDTH="14" HPOS="619" VPOS="318" ID="st6-103"/><SP/><String HEIGHT="28" CONTENT="industrial" WIDTH="106" HPOS="638" VPOS="318" ID="st6-104"/><SP/><String HEIGHT="28" CONTENT="employment" WIDTH="140" HPOS="749" VPOS="318" ID="st6-105"/></TextLine><TextLine HPOS="94" VPOS="350" ID="tl6-10" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="fell" WIDTH="34" HPOS="94" VPOS="350" ID="st6-106"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="135" VPOS="350" ID="st6-107"/><SP/><String HEIGHT="28" CONTENT="household" WIDTH="116" HPOS="184" VPOS="350" ID="st6-108"/><SP/><String HEIGHT="28" CONTENT="indebtedness" WIDTH="144" HPOS="308" VPOS="350" ID="st6-109"/><SP/><String HEIGHT="28" CONTENT="increased" WIDTH="99" HPOS="459" VPOS="350" ID="st6-110"/><String HEIGHT="28" CONTENT="," WIDTH="11" HPOS="558" VPOS="350" ID="st6-111"/><SP/><String HEIGHT="28" CONTENT="which" WIDTH="67" HPOS="577" VPOS="350" ID="st6-112"/><SP/><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="652" VPOS="350" ID="st6-113"/><SP/><String HEIGHT="28" CONTENT="now" WIDTH="49" HPOS="677" VPOS="350" ID="st6-114"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="734" VPOS="350" ID="st6-115"/><SP/><String HEIGHT="28" CONTENT="factor" WIDTH="64" HPOS="753" VPOS="350" ID="st6-116"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="825" VPOS="350" ID="st6-117"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="854" VPOS="350" ID="st6-118"/></TextLine><TextLine HPOS="94" VPOS="381" ID="tl6-11" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="problems" WIDTH="104" HPOS="94" VPOS="381" ID="st6-119"/><SP/><String HEIGHT="29" CONTENT="German" WIDTH="91" HPOS="203" VPOS="381" ID="st6-120"/><SP/><String HEIGHT="29" CONTENT="banks" WIDTH="64" HPOS="299" VPOS="381" ID="st6-121"/><SP/><String HEIGHT="29" CONTENT="are" WIDTH="33" HPOS="368" VPOS="381" ID="st6-122"/><SP/><String HEIGHT="29" CONTENT="facing" WIDTH="63" HPOS="406" VPOS="381" ID="st6-123"/><String HEIGHT="29" CONTENT="." WIDTH="11" HPOS="469" VPOS="381" ID="st6-124"/><SP/><String HEIGHT="29" CONTENT="France" WIDTH="74" HPOS="485" VPOS="381" ID="st6-125"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="564" VPOS="381" ID="st6-126"/><SP/><String HEIGHT="29" CONTENT="Italy" WIDTH="50" HPOS="610" VPOS="381" ID="st6-127"/><SP/><String HEIGHT="29" CONTENT="tried" WIDTH="52" HPOS="665" VPOS="381" ID="st6-128"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="23" HPOS="723" VPOS="381" ID="st6-129"/><SP/><String HEIGHT="29" CONTENT="maintain" WIDTH="98" HPOS="751" VPOS="381" ID="st6-130"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="854" VPOS="381" ID="st6-131"/></TextLine><TextLine HPOS="94" VPOS="413" ID="tl6-12" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="»" WIDTH="10" HPOS="94" VPOS="413" ID="st6-132"/><String HEIGHT="29" CONTENT="classical" WIDTH="91" HPOS="104" VPOS="413" ID="st6-133"/><String HEIGHT="29" CONTENT="«" WIDTH="11" HPOS="195" VPOS="413" ID="st6-134"/><SP/><String HEIGHT="29" CONTENT="European" WIDTH="110" HPOS="215" VPOS="413" ID="st6-135"/><SP/><String HEIGHT="29" CONTENT="capitalist" WIDTH="98" HPOS="334" VPOS="413" ID="st6-136"/><SP/><String HEIGHT="29" CONTENT="model" WIDTH="71" HPOS="441" VPOS="413" ID="st6-137"/><SP/><String HEIGHT="29" CONTENT="through" WIDTH="91" HPOS="521" VPOS="413" ID="st6-138"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="12" HPOS="621" VPOS="413" ID="st6-139"/><SP/><String HEIGHT="29" CONTENT="relatively" WIDTH="101" HPOS="642" VPOS="413" ID="st6-140"/><SP/><String HEIGHT="29" CONTENT="expansionist" WIDTH="137" HPOS="752" VPOS="413" ID="st6-141"/></TextLine><TextLine HPOS="94" VPOS="445" ID="tl6-13" WIDTH="551" HEIGHT="29"><String HEIGHT="29" CONTENT="public" WIDTH="69" HPOS="94" VPOS="445" ID="st6-142"/><SP/><String HEIGHT="29" CONTENT="policy" WIDTH="61" HPOS="170" VPOS="445" ID="st6-143"/><String HEIGHT="29" CONTENT="," WIDTH="11" HPOS="231" VPOS="445" ID="st6-144"/><SP/><String HEIGHT="29" CONTENT="but" WIDTH="38" HPOS="249" VPOS="445" ID="st6-145"/><SP/><String HEIGHT="29" CONTENT="at" WIDTH="21" HPOS="293" VPOS="445" ID="st6-146"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="321" VPOS="445" ID="st6-147"/><SP/><String HEIGHT="29" CONTENT="cost" WIDTH="45" HPOS="362" VPOS="445" ID="st6-148"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="413" VPOS="445" ID="st6-149"/><SP/><String HEIGHT="29" CONTENT="rising" WIDTH="62" HPOS="443" VPOS="445" ID="st6-150"/><SP/><String HEIGHT="29" CONTENT="public" WIDTH="69" HPOS="512" VPOS="445" ID="st6-151"/><SP/><String HEIGHT="29" CONTENT="debt" WIDTH="45" HPOS="588" VPOS="445" ID="st6-152"/><String HEIGHT="29" CONTENT="." WIDTH="12" HPOS="633" VPOS="445" ID="st6-153"/></TextLine><TextLine HPOS="129" VPOS="477" ID="tl6-14" WIDTH="760" HEIGHT="29"><String HEIGHT="29" CONTENT="However" WIDTH="96" HPOS="129" VPOS="477" ID="st6-154"/><String HEIGHT="29" CONTENT="," WIDTH="14" HPOS="225" VPOS="477" ID="st6-155"/><SP/><String HEIGHT="29" CONTENT="when" WIDTH="61" HPOS="244" VPOS="477" ID="st6-156"/><SP/><String HEIGHT="29" CONTENT="it" WIDTH="16" HPOS="310" VPOS="477" ID="st6-157"/><SP/><String HEIGHT="29" CONTENT="comes" WIDTH="69" HPOS="331" VPOS="477" ID="st6-158"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="24" HPOS="405" VPOS="477" ID="st6-159"/><SP/><String HEIGHT="29" CONTENT="total" WIDTH="50" HPOS="434" VPOS="477" ID="st6-160"/><SP/><String HEIGHT="29" CONTENT="indebtedness" WIDTH="144" HPOS="489" VPOS="477" ID="st6-161"/><SP/><String HEIGHT="29" CONTENT="–" WIDTH="13" HPOS="638" VPOS="477" ID="st6-162"/><SP/><String HEIGHT="29" CONTENT="including" WIDTH="105" HPOS="656" VPOS="477" ID="st6-163"/><SP/><String HEIGHT="29" CONTENT="household" WIDTH="110" HPOS="766" VPOS="477" ID="st6-164"/><String HEIGHT="29" CONTENT="," WIDTH="13" HPOS="876" VPOS="477" ID="st6-165"/></TextLine><TextLine HPOS="94" VPOS="509" ID="tl6-15" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="enterprise" WIDTH="106" HPOS="94" VPOS="509" ID="st6-166"/><String HEIGHT="29" CONTENT="," WIDTH="11" HPOS="200" VPOS="509" ID="st6-167"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="216" VPOS="509" ID="st6-168"/><SP/><String HEIGHT="29" CONTENT="public" WIDTH="69" HPOS="262" VPOS="509" ID="st6-169"/><SP/><String HEIGHT="29" CONTENT="debt" WIDTH="50" HPOS="336" VPOS="509" ID="st6-170"/><SP/><String HEIGHT="29" CONTENT="–" WIDTH="13" HPOS="391" VPOS="509" ID="st6-171"/><SP/><String HEIGHT="29" CONTENT="countries" WIDTH="103" HPOS="409" VPOS="509" ID="st6-172"/><SP/><String HEIGHT="29" CONTENT="belonging" WIDTH="112" HPOS="517" VPOS="509" ID="st6-173"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="24" HPOS="634" VPOS="509" ID="st6-174"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="663" VPOS="509" ID="st6-175"/><String HEIGHT="29" CONTENT="»" WIDTH="10" HPOS="703" VPOS="509" ID="st6-176"/><String HEIGHT="29" CONTENT="classical" WIDTH="90" HPOS="713" VPOS="509" ID="st6-177"/><String HEIGHT="29" CONTENT="«" WIDTH="11" HPOS="803" VPOS="509" ID="st6-178"/><SP/><String HEIGHT="29" CONTENT="model" WIDTH="70" HPOS="819" VPOS="509" ID="st6-179"/></TextLine><TextLine HPOS="94" VPOS="541" ID="tl6-16" WIDTH="329" HEIGHT="28"><String HEIGHT="28" CONTENT="are" WIDTH="33" HPOS="94" VPOS="541" ID="st6-180"/><SP/><String HEIGHT="28" CONTENT="not" WIDTH="38" HPOS="134" VPOS="541" ID="st6-181"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="178" VPOS="541" ID="st6-182"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="207" VPOS="541" ID="st6-183"/><SP/><String HEIGHT="28" CONTENT="worst" WIDTH="63" HPOS="249" VPOS="541" ID="st6-184"/><SP/><String HEIGHT="28" CONTENT="situation" WIDTH="94" HPOS="318" VPOS="541" ID="st6-185"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="412" VPOS="541" ID="st6-186"/></TextLine><TextLine HPOS="459" VPOS="602" ID="tl6-17" WIDTH="66" HEIGHT="20"><String HEIGHT="20" CONTENT="Table" WIDTH="44" HPOS="459" VPOS="602" ID="st6-187"/><SP/><String HEIGHT="20" CONTENT="2" WIDTH="8" HPOS="509" VPOS="602" ID="st6-188"/><String HEIGHT="20" CONTENT=":" WIDTH="8" HPOS="517" VPOS="602" ID="st6-189"/></TextLine><TextLine HPOS="236" VPOS="635" ID="tl6-18" WIDTH="512" HEIGHT="26"><String HEIGHT="26" CONTENT="Total" WIDTH="51" HPOS="236" VPOS="635" ID="st6-190"/><SP/><String HEIGHT="26" CONTENT="Indebtedness" WIDTH="140" HPOS="293" VPOS="635" ID="st6-191"/><SP/><String HEIGHT="26" CONTENT="as" WIDTH="23" HPOS="439" VPOS="635" ID="st6-192"/><SP/><String HEIGHT="26" CONTENT="a" WIDTH="13" HPOS="469" VPOS="635" ID="st6-193"/><SP/><String HEIGHT="26" CONTENT="Percentage" WIDTH="116" HPOS="489" VPOS="635" ID="st6-194"/><SP/><String HEIGHT="26" CONTENT="of" WIDTH="22" HPOS="611" VPOS="635" ID="st6-195"/><SP/><String HEIGHT="26" CONTENT="GDP" WIDTH="37" HPOS="639" VPOS="635" ID="st6-196"/><String HEIGHT="26" CONTENT="," WIDTH="13" HPOS="676" VPOS="635" ID="st6-197"/><SP/><String HEIGHT="26" CONTENT="2006" WIDTH="54" HPOS="694" VPOS="635" ID="st6-198"/></TextLine><TextLine HPOS="336" VPOS="692" ID="tl6-19" WIDTH="60" HEIGHT="23"><String HEIGHT="23" CONTENT="France" WIDTH="60" HPOS="336" VPOS="692" ID="st6-199"/></TextLine><TextLine HPOS="106" VPOS="759" ID="tl6-20" WIDTH="270" HEIGHT="24"><String HEIGHT="24" CONTENT="Household" WIDTH="105" HPOS="106" VPOS="759" ID="st6-200"/><SP/><String HEIGHT="24" CONTENT="debt" WIDTH="42" HPOS="217" VPOS="759" ID="st6-201"/><SP/><String HEIGHT="24" CONTENT="45" WIDTH="20" HPOS="356" VPOS="759" ID="st6-202"/></TextLine><TextLine HPOS="106" VPOS="801" ID="tl6-21" WIDTH="270" HEIGHT="24"><String HEIGHT="24" CONTENT="Enterprise" WIDTH="97" HPOS="106" VPOS="801" ID="st6-203"/><SP/><String HEIGHT="24" CONTENT="debt" WIDTH="42" HPOS="208" VPOS="801" ID="st6-204"/><SP/><String HEIGHT="24" CONTENT="73" WIDTH="20" HPOS="356" VPOS="801" ID="st6-205"/></TextLine><TextLine HPOS="106" VPOS="843" ID="tl6-22" WIDTH="47" HEIGHT="23"><String HEIGHT="23" CONTENT="Total" WIDTH="47" HPOS="106" VPOS="843" ID="st6-206"/></TextLine><TextLine HPOS="106" VPOS="869" ID="tl6-23" WIDTH="273" HEIGHT="24"><String HEIGHT="24" CONTENT="household" WIDTH="92" HPOS="106" VPOS="869" ID="st6-207"/><String HEIGHT="24" CONTENT="+" WIDTH="10" HPOS="198" VPOS="869" ID="st6-208"/><String HEIGHT="24" CONTENT="enterprise" WIDTH="103" HPOS="208" VPOS="869" ID="st6-209"/><SP/><String HEIGHT="24" CONTENT="118" WIDTH="26" HPOS="353" VPOS="869" ID="st6-210"/></TextLine><TextLine HPOS="106" VPOS="911" ID="tl6-24" WIDTH="271" HEIGHT="23"><String HEIGHT="23" CONTENT="Public" WIDTH="58" HPOS="106" VPOS="911" ID="st6-211"/><SP/><String HEIGHT="23" CONTENT="debt" WIDTH="42" HPOS="170" VPOS="911" ID="st6-212"/><SP/><String HEIGHT="23" CONTENT="63" WIDTH="21" HPOS="356" VPOS="911" ID="st6-213"/></TextLine><TextLine HPOS="106" VPOS="952" ID="tl6-25" WIDTH="273" HEIGHT="24"><String HEIGHT="24" CONTENT="Total" WIDTH="47" HPOS="106" VPOS="952" ID="st6-214"/><SP/><String HEIGHT="24" CONTENT="181" WIDTH="26" HPOS="353" VPOS="952" ID="st6-215"/></TextLine><TextLine HPOS="440" VPOS="692" ID="tl6-26" WIDTH="425" HEIGHT="23"><String HEIGHT="23" CONTENT="Italy" WIDTH="41" HPOS="440" VPOS="692" ID="st6-216"/><SP/><String HEIGHT="23" CONTENT="Germany" WIDTH="82" HPOS="516" VPOS="692" ID="st6-217"/><SP/><String HEIGHT="23" CONTENT="Spain" WIDTH="51" HPOS="628" VPOS="692" ID="st6-218"/><SP/><String HEIGHT="23" CONTENT="United" WIDTH="62" HPOS="717" VPOS="692" ID="st6-219"/><SP/><String HEIGHT="23" CONTENT="USA" WIDTH="45" HPOS="820" VPOS="692" ID="st6-220"/></TextLine><TextLine HPOS="707" VPOS="719" ID="tl6-27" WIDTH="161" HEIGHT="22"><String HEIGHT="22" CONTENT="Kingdom" WIDTH="82" HPOS="707" VPOS="719" ID="st6-221"/><String HEIGHT="22" CONTENT="(" WIDTH="8" HPOS="817" VPOS="719" ID="st6-222"/><String HEIGHT="22" CONTENT="2007" WIDTH="34" HPOS="825" VPOS="719" ID="st6-223"/><String HEIGHT="22" CONTENT=")" WIDTH="9" HPOS="859" VPOS="719" ID="st6-224"/></TextLine><TextLine HPOS="450" VPOS="759" ID="tl6-28" WIDTH="419" HEIGHT="24"><String HEIGHT="24" CONTENT="39" WIDTH="21" HPOS="450" VPOS="759" ID="st6-225"/><SP/><String HEIGHT="24" CONTENT="68" WIDTH="22" HPOS="546" VPOS="759" ID="st6-226"/><SP/><String HEIGHT="24" CONTENT="84" WIDTH="23" HPOS="642" VPOS="759" ID="st6-227"/><SP/><String HEIGHT="24" CONTENT="107" WIDTH="31" HPOS="733" VPOS="759" ID="st6-228"/><SP/><String HEIGHT="24" CONTENT="100" WIDTH="31" HPOS="816" VPOS="759" ID="st6-229"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="847" VPOS="759" ID="st6-230"/><String HEIGHT="24" CONTENT="0" WIDTH="11" HPOS="858" VPOS="759" ID="st6-231"/></TextLine><TextLine HPOS="450" VPOS="801" ID="tl6-29" WIDTH="414" HEIGHT="24"><String HEIGHT="24" CONTENT="63" WIDTH="21" HPOS="450" VPOS="801" ID="st6-232"/><SP/><String HEIGHT="24" CONTENT="57" WIDTH="18" HPOS="548" VPOS="801" ID="st6-233"/><SP/><String HEIGHT="24" CONTENT="104" WIDTH="33" HPOS="637" VPOS="801" ID="st6-234"/><SP/><String HEIGHT="24" CONTENT="88" WIDTH="20" HPOS="738" VPOS="801" ID="st6-235"/><SP/><String HEIGHT="24" CONTENT="76" WIDTH="18" HPOS="827" VPOS="801" ID="st6-236"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="845" VPOS="801" ID="st6-237"/><String HEIGHT="24" CONTENT="3" WIDTH="10" HPOS="854" VPOS="801" ID="st6-238"/></TextLine><TextLine HPOS="445" VPOS="869" ID="tl6-30" WIDTH="420" HEIGHT="24"><String HEIGHT="24" CONTENT="102" WIDTH="31" HPOS="445" VPOS="869" ID="st6-239"/><SP/><String HEIGHT="24" CONTENT="25" WIDTH="18" HPOS="548" VPOS="869" ID="st6-240"/><SP/><String HEIGHT="24" CONTENT="188" WIDTH="29" HPOS="639" VPOS="869" ID="st6-241"/><SP/><String HEIGHT="24" CONTENT="195" WIDTH="28" HPOS="734" VPOS="869" ID="st6-242"/><SP/><String HEIGHT="24" CONTENT="176" WIDTH="27" HPOS="820" VPOS="869" ID="st6-243"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="847" VPOS="869" ID="st6-244"/><String HEIGHT="24" CONTENT="3" WIDTH="9" HPOS="856" VPOS="869" ID="st6-245"/></TextLine><TextLine HPOS="444" VPOS="911" ID="tl6-31" WIDTH="419" HEIGHT="23"><String HEIGHT="23" CONTENT="106" WIDTH="33" HPOS="444" VPOS="911" ID="st6-246"/><SP/><String HEIGHT="23" CONTENT="67" WIDTH="22" HPOS="546" VPOS="911" ID="st6-247"/><SP/><String HEIGHT="23" CONTENT="39" WIDTH="21" HPOS="643" VPOS="911" ID="st6-248"/><SP/><String HEIGHT="23" CONTENT="39" WIDTH="20" HPOS="738" VPOS="911" ID="st6-249"/><SP/><String HEIGHT="23" CONTENT="65" WIDTH="16" HPOS="830" VPOS="911" ID="st6-250"/><String HEIGHT="23" CONTENT="." WIDTH="8" HPOS="846" VPOS="911" ID="st6-251"/><String HEIGHT="23" CONTENT="1" WIDTH="9" HPOS="854" VPOS="911" ID="st6-252"/></TextLine><TextLine HPOS="444" VPOS="952" ID="tl6-32" WIDTH="424" HEIGHT="24"><String HEIGHT="24" CONTENT="208" WIDTH="33" HPOS="444" VPOS="952" ID="st6-253"/><SP/><String HEIGHT="24" CONTENT="192" WIDTH="30" HPOS="542" VPOS="952" ID="st6-254"/><SP/><String HEIGHT="24" CONTENT="227" WIDTH="31" HPOS="638" VPOS="952" ID="st6-255"/><SP/><String HEIGHT="24" CONTENT="234" WIDTH="32" HPOS="732" VPOS="952" ID="st6-256"/><SP/><String HEIGHT="24" CONTENT="241" WIDTH="30" HPOS="817" VPOS="952" ID="st6-257"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="847" VPOS="952" ID="st6-258"/><String HEIGHT="24" CONTENT="4" WIDTH="11" HPOS="857" VPOS="952" ID="st6-259"/></TextLine><TextLine HPOS="94" VPOS="1000" ID="tl6-33" WIDTH="463" HEIGHT="24"><String HEIGHT="24" CONTENT="Note" WIDTH="44" HPOS="94" VPOS="1000" ID="st6-260"/><String HEIGHT="24" CONTENT=":" WIDTH="12" HPOS="138" VPOS="1000" ID="st6-261"/><SP/><String HEIGHT="24" CONTENT="Household" WIDTH="106" HPOS="155" VPOS="1000" ID="st6-262"/><SP/><String HEIGHT="24" CONTENT="debt" WIDTH="42" HPOS="266" VPOS="1000" ID="st6-263"/><SP/><String HEIGHT="24" CONTENT="had" WIDTH="34" HPOS="314" VPOS="1000" ID="st6-264"/><SP/><String HEIGHT="24" CONTENT="reached" WIDTH="71" HPOS="354" VPOS="1000" ID="st6-265"/><SP/><String HEIGHT="24" CONTENT="112" WIDTH="26" HPOS="431" VPOS="1000" ID="st6-266"/><SP/><String HEIGHT="24" CONTENT="percent" WIDTH="69" HPOS="463" VPOS="1000" ID="st6-267"/><SP/><String HEIGHT="24" CONTENT="of" WIDTH="19" HPOS="538" VPOS="1000" ID="st6-268"/></TextLine><TextLine HPOS="562" VPOS="1006" ID="tl6-34" WIDTH="40" HEIGHT="12"><String HEIGHT="12" CONTENT="gdp" WIDTH="40" HPOS="562" VPOS="1006" ID="st6-269"/></TextLine><TextLine HPOS="608" VPOS="1000" ID="tl6-35" WIDTH="196" HEIGHT="24"><String HEIGHT="24" CONTENT="in" WIDTH="18" HPOS="608" VPOS="1000" ID="st6-270"/><SP/><String HEIGHT="24" CONTENT="Spain" WIDTH="53" HPOS="632" VPOS="1000" ID="st6-271"/><SP/><String HEIGHT="24" CONTENT="by" WIDTH="23" HPOS="690" VPOS="1000" ID="st6-272"/><SP/><String HEIGHT="24" CONTENT="fall" WIDTH="28" HPOS="719" VPOS="1000" ID="st6-273"/><SP/><String HEIGHT="24" CONTENT="2007" WIDTH="40" HPOS="753" VPOS="1000" ID="st6-274"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="793" VPOS="1000" ID="st6-275"/></TextLine><TextLine HPOS="94" VPOS="1032" ID="tl6-36" WIDTH="72" HEIGHT="24"><String HEIGHT="24" CONTENT="Source" WIDTH="61" HPOS="94" VPOS="1032" ID="st6-276"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="155" VPOS="1032" ID="st6-277"/></TextLine><TextLine HPOS="171" VPOS="1038" ID="tl6-37" WIDTH="57" HEIGHT="12"><String HEIGHT="12" CONTENT="insee" WIDTH="57" HPOS="171" VPOS="1038" ID="st6-278"/></TextLine><TextLine HPOS="228" VPOS="1032" ID="tl6-38" WIDTH="6" HEIGHT="24"><String HEIGHT="24" CONTENT="," WIDTH="6" HPOS="228" VPOS="1032" ID="st6-279"/></TextLine><TextLine HPOS="240" VPOS="1038" ID="tl6-39" WIDTH="37" HEIGHT="12"><String HEIGHT="12" CONTENT="ecb" WIDTH="37" HPOS="240" VPOS="1038" ID="st6-280"/></TextLine><TextLine HPOS="277" VPOS="1032" ID="tl6-40" WIDTH="46" HEIGHT="24"><String HEIGHT="24" CONTENT="," WIDTH="6" HPOS="277" VPOS="1032" ID="st6-281"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="34" HPOS="289" VPOS="1032" ID="st6-282"/></TextLine><TextLine HPOS="329" VPOS="1038" ID="tl6-41" WIDTH="28" HEIGHT="12"><String HEIGHT="12" CONTENT="uk" WIDTH="28" HPOS="329" VPOS="1038" ID="st6-283"/></TextLine><TextLine HPOS="362" VPOS="1032" ID="tl6-42" WIDTH="260" HEIGHT="24"><String HEIGHT="24" CONTENT="national" WIDTH="76" HPOS="362" VPOS="1032" ID="st6-284"/><SP/><String HEIGHT="24" CONTENT="accounting" WIDTH="103" HPOS="444" VPOS="1032" ID="st6-285"/><SP/><String HEIGHT="24" CONTENT="system" WIDTH="59" HPOS="553" VPOS="1032" ID="st6-286"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="612" VPOS="1032" ID="st6-287"/></TextLine><TextLine HPOS="94" VPOS="1116" ID="tl6-43" WIDTH="316" HEIGHT="27"><String HEIGHT="27" CONTENT="Global" WIDTH="85" HPOS="94" VPOS="1116" ID="st6-288"/><SP/><String HEIGHT="27" CONTENT="Unsustainability" WIDTH="210" HPOS="186" VPOS="1116" ID="st6-289"/><String HEIGHT="27" CONTENT="?" WIDTH="14" HPOS="396" VPOS="1116" ID="st6-290"/></TextLine><TextLine HPOS="94" VPOS="1180" ID="tl6-44" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="94" VPOS="1180" ID="st6-291"/><SP/><String HEIGHT="28" CONTENT="current" WIDTH="80" HPOS="146" VPOS="1180" ID="st6-292"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="55" HPOS="234" VPOS="1180" ID="st6-293"/><SP/><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="298" VPOS="1180" ID="st6-294"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="323" VPOS="1180" ID="st6-295"/><SP/><String HEIGHT="28" CONTENT="outcome" WIDTH="98" HPOS="366" VPOS="1180" ID="st6-296"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="472" VPOS="1180" ID="st6-297"/><SP/><String HEIGHT="28" CONTENT="multiple" WIDTH="93" HPOS="504" VPOS="1180" ID="st6-298"/><SP/><String HEIGHT="28" CONTENT="failures" WIDTH="77" HPOS="605" VPOS="1180" ID="st6-299"/><String HEIGHT="28" CONTENT="," WIDTH="10" HPOS="682" VPOS="1180" ID="st6-300"/><SP/><String HEIGHT="28" CONTENT="above" WIDTH="65" HPOS="700" VPOS="1180" ID="st6-301"/><SP/><String HEIGHT="28" CONTENT="all" WIDTH="24" HPOS="774" VPOS="1180" ID="st6-302"/><String HEIGHT="28" CONTENT="," WIDTH="8" HPOS="798" VPOS="1180" ID="st6-303"/><SP/><String HEIGHT="28" CONTENT="that" WIDTH="44" HPOS="814" VPOS="1180" ID="st6-304"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="866" VPOS="1180" ID="st6-305"/></TextLine><TextLine HPOS="94" VPOS="1212" ID="tl6-45" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="94" VPOS="1212" ID="st6-306"/><SP/><String HEIGHT="28" CONTENT="international" WIDTH="142" HPOS="134" VPOS="1212" ID="st6-307"/><SP/><String HEIGHT="28" CONTENT="monetary" WIDTH="106" HPOS="281" VPOS="1212" ID="st6-308"/><SP/><String HEIGHT="28" CONTENT="system" WIDTH="70" HPOS="392" VPOS="1212" ID="st6-309"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="462" VPOS="1212" ID="st6-310"/><SP/><String HEIGHT="28" CONTENT="Had" WIDTH="50" HPOS="479" VPOS="1212" ID="st6-311"/><SP/><String HEIGHT="28" CONTENT="an" WIDTH="26" HPOS="534" VPOS="1212" ID="st6-312"/><SP/><String HEIGHT="28" CONTENT="effective" WIDTH="91" HPOS="565" VPOS="1212" ID="st6-313"/><SP/><String HEIGHT="28" CONTENT="system" WIDTH="75" HPOS="661" VPOS="1212" ID="st6-314"/><SP/><String HEIGHT="28" CONTENT="been" WIDTH="53" HPOS="741" VPOS="1212" ID="st6-315"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="799" VPOS="1212" ID="st6-316"/><SP/><String HEIGHT="28" CONTENT="place" WIDTH="52" HPOS="826" VPOS="1212" ID="st6-317"/><String HEIGHT="28" CONTENT="," WIDTH="11" HPOS="878" VPOS="1212" ID="st6-318"/></TextLine><TextLine HPOS="94" VPOS="1243" ID="tl6-46" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="Asian" WIDTH="63" HPOS="94" VPOS="1243" ID="st6-319"/><SP/><String HEIGHT="29" CONTENT="countries" WIDTH="104" HPOS="169" VPOS="1243" ID="st6-320"/><SP/><String HEIGHT="29" CONTENT="would" WIDTH="72" HPOS="285" VPOS="1243" ID="st6-321"/><SP/><String HEIGHT="29" CONTENT="not" WIDTH="39" HPOS="369" VPOS="1243" ID="st6-322"/><SP/><String HEIGHT="29" CONTENT="have" WIDTH="52" HPOS="419" VPOS="1243" ID="st6-323"/><SP/><String HEIGHT="29" CONTENT="felt" WIDTH="36" HPOS="483" VPOS="1243" ID="st6-324"/><SP/><String HEIGHT="29" CONTENT="compelled" WIDTH="116" HPOS="531" VPOS="1243" ID="st6-325"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="24" HPOS="659" VPOS="1243" ID="st6-326"/><SP/><String HEIGHT="29" CONTENT="accumulate" WIDTH="127" HPOS="695" VPOS="1243" ID="st6-327"/><SP/><String HEIGHT="29" CONTENT="huge" WIDTH="56" HPOS="833" VPOS="1243" ID="st6-328"/></TextLine><TextLine HPOS="94" VPOS="1275" ID="tl6-47" WIDTH="127" HEIGHT="29"><String HEIGHT="29" CONTENT="amounts" WIDTH="97" HPOS="94" VPOS="1275" ID="st6-329"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="198" VPOS="1275" ID="st6-330"/></TextLine><TextLine HPOS="229" VPOS="1282" ID="tl6-48" WIDTH="74" HEIGHT="14"><String HEIGHT="14" CONTENT="forex" WIDTH="74" HPOS="229" VPOS="1282" ID="st6-331"/></TextLine><TextLine HPOS="311" VPOS="1275" ID="tl6-49" WIDTH="190" HEIGHT="29"><String HEIGHT="29" CONTENT="reserves" WIDTH="82" HPOS="311" VPOS="1275" ID="st6-332"/><String HEIGHT="29" CONTENT="." WIDTH="11" HPOS="393" VPOS="1275" ID="st6-333"/><SP/><String HEIGHT="29" CONTENT="Second" WIDTH="76" HPOS="412" VPOS="1275" ID="st6-334"/><String HEIGHT="29" CONTENT="," WIDTH="13" HPOS="488" VPOS="1275" ID="st6-335"/></TextLine><TextLine HPOS="509" VPOS="1282" ID="tl6-50" WIDTH="29" HEIGHT="14"><String HEIGHT="14" CONTENT="us" WIDTH="29" HPOS="509" VPOS="1282" ID="st6-336"/></TextLine><TextLine HPOS="545" VPOS="1275" ID="tl6-51" WIDTH="344" HEIGHT="29"><String HEIGHT="29" CONTENT="credit" WIDTH="68" HPOS="545" VPOS="1275" ID="st6-337"/><String HEIGHT="29" CONTENT="-" WIDTH="12" HPOS="613" VPOS="1275" ID="st6-338"/><String HEIGHT="29" CONTENT="induced" WIDTH="80" HPOS="625" VPOS="1275" ID="st6-339"/><SP/><String HEIGHT="29" CONTENT="growth" WIDTH="82" HPOS="713" VPOS="1275" ID="st6-340"/><SP/><String HEIGHT="29" CONTENT="was" WIDTH="41" HPOS="802" VPOS="1275" ID="st6-341"/><SP/><String HEIGHT="29" CONTENT="not" WIDTH="38" HPOS="851" VPOS="1275" ID="st6-342"/></TextLine><TextLine HPOS="94" VPOS="1307" ID="tl6-52" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="sustainable" WIDTH="119" HPOS="94" VPOS="1307" ID="st6-343"/><String HEIGHT="29" CONTENT="," WIDTH="11" HPOS="213" VPOS="1307" ID="st6-344"/><SP/><String HEIGHT="29" CONTENT="but" WIDTH="38" HPOS="234" VPOS="1307" ID="st6-345"/><SP/><String HEIGHT="29" CONTENT="neither" WIDTH="79" HPOS="282" VPOS="1307" ID="st6-346"/><SP/><String HEIGHT="29" CONTENT="were" WIDTH="54" HPOS="371" VPOS="1307" ID="st6-347"/><SP/><String HEIGHT="29" CONTENT="mercantilist" WIDTH="132" HPOS="434" VPOS="1307" ID="st6-348"/><SP/><String HEIGHT="29" CONTENT="policies" WIDTH="85" HPOS="575" VPOS="1307" ID="st6-349"/><SP/><String HEIGHT="29" CONTENT="implemented" WIDTH="149" HPOS="669" VPOS="1307" ID="st6-350"/><SP/><String HEIGHT="29" CONTENT="in" WIDTH="22" HPOS="827" VPOS="1307" ID="st6-351"/><SP/><String HEIGHT="29" CONTENT="re" WIDTH="20" HPOS="859" VPOS="1307" ID="st6-352" SUBS_TYPE="HypPart1" SUBS_CONTENT="re32"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="1307" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="1388" ID="tl6-53" WIDTH="23" HEIGHT="29"><String HEIGHT="29" CONTENT="32" WIDTH="23" HPOS="94" VPOS="1388" ID="st6-353" SUBS_TYPE="HypPart2" SUBS_CONTENT="re32"/></TextLine><TextLine HPOS="137" VPOS="1395" ID="tl6-54" WIDTH="153" HEIGHT="18"><String HEIGHT="18" CONTENT="Sapir" WIDTH="33" HPOS="137" VPOS="1395" ID="st6-354"/><String HEIGHT="18" CONTENT="," WIDTH="7" HPOS="170" VPOS="1395" ID="st6-355"/><SP/><String HEIGHT="18" CONTENT="Financial" WIDTH="65" HPOS="181" VPOS="1395" ID="st6-356"/><SP/><String HEIGHT="18" CONTENT="Crisis" WIDTH="40" HPOS="250" VPOS="1395" ID="st6-357"/></TextLine><TextLine HPOS="799" VPOS="1398" ID="tl6-55" WIDTH="29" HEIGHT="11"><String HEIGHT="11" CONTENT="ipg" WIDTH="29" HPOS="799" VPOS="1398" ID="st6-358"/></TextLine><TextLine HPOS="833" VPOS="1394" ID="tl6-56" WIDTH="56" HEIGHT="21"><String HEIGHT="21" CONTENT="1/2009" WIDTH="56" HPOS="833" VPOS="1394" ID="st6-359"/></TextLine></TextBlock></PrintSpace></Page><Page WIDTH="984" PHYSICAL_IMG_NR="7" ID="p658175" HEIGHT="1472"><PrintSpace WIDTH="984" HPOS="0" VPOS="0" ID="ps658175" HEIGHT="1472"><TextBlock WIDTH="984" HPOS="0" VPOS="0" ID="tb658175" HEIGHT="1472"><TextLine HPOS="94" VPOS="92" ID="tl7-0" WIDTH="416" HEIGHT="29"><String HEIGHT="29" CONTENT="sponse" WIDTH="75" HPOS="94" VPOS="92" ID="st7-0"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="23" HPOS="175" VPOS="92" ID="st7-1"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="204" VPOS="92" ID="st7-2"/><SP/><String HEIGHT="29" CONTENT="1998" WIDTH="49" HPOS="245" VPOS="92" ID="st7-3"/><SP/><String HEIGHT="29" CONTENT="financial" WIDTH="93" HPOS="300" VPOS="92" ID="st7-4"/><SP/><String HEIGHT="29" CONTENT="crisis" WIDTH="53" HPOS="399" VPOS="92" ID="st7-5"/><String HEIGHT="29" CONTENT="." WIDTH="9" HPOS="452" VPOS="92" ID="st7-6"/><SP/><String HEIGHT="29" CONTENT="The" WIDTH="44" HPOS="466" VPOS="92" ID="st7-7"/></TextLine><TextLine HPOS="516" VPOS="99" ID="tl7-1" WIDTH="29" HEIGHT="14"><String HEIGHT="14" CONTENT="us" WIDTH="29" HPOS="516" VPOS="99" ID="st7-8"/></TextLine><TextLine HPOS="551" VPOS="92" ID="tl7-2" WIDTH="338" HEIGHT="29"><String HEIGHT="29" CONTENT="economy" WIDTH="102" HPOS="551" VPOS="92" ID="st7-9"/><SP/><String HEIGHT="29" CONTENT="could" WIDTH="63" HPOS="658" VPOS="92" ID="st7-10"/><SP/><String HEIGHT="29" CONTENT="not" WIDTH="38" HPOS="726" VPOS="92" ID="st7-11"/><SP/><String HEIGHT="29" CONTENT="increase" WIDTH="88" HPOS="770" VPOS="92" ID="st7-12"/><SP/><String HEIGHT="29" CONTENT="its" WIDTH="25" HPOS="864" VPOS="92" ID="st7-13"/></TextLine><TextLine HPOS="94" VPOS="124" ID="tl7-3" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="current" WIDTH="80" HPOS="94" VPOS="124" ID="st7-14"/><SP/><String HEIGHT="29" CONTENT="account" WIDTH="87" HPOS="181" VPOS="124" ID="st7-15"/><SP/><String HEIGHT="29" CONTENT="deficit" WIDTH="69" HPOS="274" VPOS="124" ID="st7-16"/><SP/><String HEIGHT="29" CONTENT="indefinitely" WIDTH="120" HPOS="349" VPOS="124" ID="st7-17"/><String HEIGHT="29" CONTENT="," WIDTH="11" HPOS="469" VPOS="124" ID="st7-18"/><SP/><String HEIGHT="29" CONTENT="while" WIDTH="60" HPOS="487" VPOS="124" ID="st7-19"/><SP/><String HEIGHT="29" CONTENT="for" WIDTH="33" HPOS="553" VPOS="124" ID="st7-20"/><SP/><String HEIGHT="29" CONTENT="Asian" WIDTH="61" HPOS="592" VPOS="124" ID="st7-21"/><SP/><String HEIGHT="29" CONTENT="emerging" WIDTH="105" HPOS="660" VPOS="124" ID="st7-22"/><SP/><String HEIGHT="29" CONTENT="economies" WIDTH="118" HPOS="771" VPOS="124" ID="st7-23"/></TextLine><TextLine HPOS="94" VPOS="156" ID="tl7-4" WIDTH="149" HEIGHT="29"><String HEIGHT="29" CONTENT="accumulating" WIDTH="149" HPOS="94" VPOS="156" ID="st7-24"/></TextLine><TextLine HPOS="250" VPOS="163" ID="tl7-5" WIDTH="74" HEIGHT="14"><String HEIGHT="14" CONTENT="forex" WIDTH="74" HPOS="250" VPOS="163" ID="st7-25"/></TextLine><TextLine HPOS="332" VPOS="156" ID="tl7-6" WIDTH="557" HEIGHT="29"><String HEIGHT="29" CONTENT="reserves" WIDTH="86" HPOS="332" VPOS="156" ID="st7-26"/><SP/><String HEIGHT="29" CONTENT="–" WIDTH="13" HPOS="426" VPOS="156" ID="st7-27"/><SP/><String HEIGHT="29" CONTENT="which" WIDTH="68" HPOS="446" VPOS="156" ID="st7-28"/><SP/><String HEIGHT="29" CONTENT="had" WIDTH="41" HPOS="521" VPOS="156" ID="st7-29"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="24" HPOS="569" VPOS="156" ID="st7-30"/><SP/><String HEIGHT="29" CONTENT="be" WIDTH="27" HPOS="600" VPOS="156" ID="st7-31"/><SP/><String HEIGHT="29" CONTENT="sterilized" WIDTH="100" HPOS="634" VPOS="156" ID="st7-32"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="23" HPOS="741" VPOS="156" ID="st7-33"/><SP/><String HEIGHT="29" CONTENT="prevent" WIDTH="84" HPOS="772" VPOS="156" ID="st7-34"/><SP/><String HEIGHT="29" CONTENT="an" WIDTH="26" HPOS="863" VPOS="156" ID="st7-35"/></TextLine><TextLine HPOS="94" VPOS="188" ID="tl7-7" WIDTH="503" HEIGHT="29"><String HEIGHT="29" CONTENT="exchange" WIDTH="102" HPOS="94" VPOS="188" ID="st7-36"/><SP/><String HEIGHT="29" CONTENT="rate" WIDTH="41" HPOS="203" VPOS="188" ID="st7-37"/><SP/><String HEIGHT="29" CONTENT="increase" WIDTH="88" HPOS="251" VPOS="188" ID="st7-38"/><SP/><String HEIGHT="29" CONTENT="–" WIDTH="13" HPOS="346" VPOS="188" ID="st7-39"/><SP/><String HEIGHT="29" CONTENT="had" WIDTH="41" HPOS="366" VPOS="188" ID="st7-40"/><SP/><String HEIGHT="29" CONTENT="significant" WIDTH="115" HPOS="414" VPOS="188" ID="st7-41"/><SP/><String HEIGHT="29" CONTENT="costs" WIDTH="50" HPOS="536" VPOS="188" ID="st7-42"/><String HEIGHT="29" CONTENT="." WIDTH="11" HPOS="586" VPOS="188" ID="st7-43"/></TextLine><TextLine HPOS="597" VPOS="186" ID="tl7-8" WIDTH="17" HEIGHT="20"><String HEIGHT="20" CONTENT="16" WIDTH="17" HPOS="597" VPOS="186" ID="st7-44"/></TextLine><TextLine HPOS="620" VPOS="188" ID="tl7-9" WIDTH="113" HEIGHT="29"><String HEIGHT="29" CONTENT="Third" WIDTH="59" HPOS="620" VPOS="188" ID="st7-45"/><String HEIGHT="29" CONTENT="," WIDTH="12" HPOS="679" VPOS="188" ID="st7-46"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="698" VPOS="188" ID="st7-47"/></TextLine><TextLine HPOS="740" VPOS="195" ID="tl7-10" WIDTH="44" HEIGHT="14"><String HEIGHT="14" CONTENT="ecb" WIDTH="44" HPOS="740" VPOS="195" ID="st7-48"/></TextLine><TextLine HPOS="792" VPOS="188" ID="tl7-11" WIDTH="97" HEIGHT="29"><String HEIGHT="29" CONTENT="followed" WIDTH="97" HPOS="792" VPOS="188" ID="st7-49"/></TextLine><TextLine HPOS="94" VPOS="220" ID="tl7-12" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="94" VPOS="220" ID="st7-50"/><SP/><String HEIGHT="28" CONTENT="policy" WIDTH="67" HPOS="112" VPOS="220" ID="st7-51"/><SP/><String HEIGHT="28" CONTENT="that" WIDTH="44" HPOS="185" VPOS="220" ID="st7-52"/><SP/><String HEIGHT="28" CONTENT="directly" WIDTH="82" HPOS="236" VPOS="220" ID="st7-53"/><SP/><String HEIGHT="28" CONTENT="contradicted" WIDTH="138" HPOS="325" VPOS="220" ID="st7-54"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="469" VPOS="220" ID="st7-55"/><SP/><String HEIGHT="28" CONTENT="ostensive" WIDTH="101" HPOS="511" VPOS="220" ID="st7-56"/><SP/><String HEIGHT="28" CONTENT="target" WIDTH="65" HPOS="618" VPOS="220" ID="st7-57"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="689" VPOS="220" ID="st7-58"/><SP/><String HEIGHT="28" CONTENT="fostering" WIDTH="99" HPOS="718" VPOS="220" ID="st7-59"/><SP/><String HEIGHT="28" CONTENT="Euro" WIDTH="53" HPOS="823" VPOS="220" ID="st7-60" SUBS_TYPE="HypPart1" SUBS_CONTENT="European"/><HYP CONTENT="-" WIDTH="13" HPOS="876" VPOS="220" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="252" ID="tl7-13" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="pean" WIDTH="53" HPOS="94" VPOS="252" ID="st7-61" SUBS_TYPE="HypPart2" SUBS_CONTENT="European"/><SP/><String HEIGHT="28" CONTENT="integration" WIDTH="122" HPOS="152" VPOS="252" ID="st7-62"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="280" VPOS="252" ID="st7-63"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="326" VPOS="252" ID="st7-64"/><SP/><String HEIGHT="28" CONTENT="fact" WIDTH="39" HPOS="353" VPOS="252" ID="st7-65"/><SP/><String HEIGHT="28" CONTENT="promoted" WIDTH="111" HPOS="398" VPOS="252" ID="st7-66"/><SP/><String HEIGHT="28" CONTENT="structural" WIDTH="105" HPOS="514" VPOS="252" ID="st7-67"/><SP/><String HEIGHT="28" CONTENT="divergence" WIDTH="115" HPOS="624" VPOS="252" ID="st7-68"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="739" VPOS="252" ID="st7-69"/><SP/><String HEIGHT="28" CONTENT="Last" WIDTH="47" HPOS="756" VPOS="252" ID="st7-70"/><SP/><String HEIGHT="28" CONTENT="but" WIDTH="38" HPOS="808" VPOS="252" ID="st7-71"/><SP/><String HEIGHT="28" CONTENT="not" WIDTH="38" HPOS="851" VPOS="252" ID="st7-72"/></TextLine><TextLine HPOS="94" VPOS="284" ID="tl7-14" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="least" WIDTH="45" HPOS="94" VPOS="284" ID="st7-73"/><String HEIGHT="28" CONTENT="," WIDTH="10" HPOS="139" VPOS="284" ID="st7-74"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="154" VPOS="284" ID="st7-75"/><SP/><String HEIGHT="28" CONTENT="neo" WIDTH="31" HPOS="194" VPOS="284" ID="st7-76"/><String HEIGHT="28" CONTENT="-" WIDTH="11" HPOS="225" VPOS="284" ID="st7-77"/><String HEIGHT="28" CONTENT="liberal" WIDTH="75" HPOS="236" VPOS="284" ID="st7-78"/><SP/><String HEIGHT="28" CONTENT="ideology" WIDTH="96" HPOS="316" VPOS="284" ID="st7-79"/><SP/><String HEIGHT="28" CONTENT="that" WIDTH="43" HPOS="417" VPOS="284" ID="st7-80"/><SP/><String HEIGHT="28" CONTENT="has" WIDTH="36" HPOS="465" VPOS="284" ID="st7-81"/><SP/><String HEIGHT="28" CONTENT="promoted" WIDTH="110" HPOS="506" VPOS="284" ID="st7-82"/><SP/><String HEIGHT="28" CONTENT="widespread" WIDTH="124" HPOS="621" VPOS="284" ID="st7-83"/><SP/><String HEIGHT="28" CONTENT="deregulation" WIDTH="139" HPOS="750" VPOS="284" ID="st7-84"/></TextLine><TextLine HPOS="94" VPOS="316" ID="tl7-15" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="94" VPOS="316" ID="st7-85"/><SP/><String HEIGHT="28" CONTENT="banking" WIDTH="90" HPOS="125" VPOS="316" ID="st7-86"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="223" VPOS="316" ID="st7-87"/><SP/><String HEIGHT="28" CONTENT="finance" WIDTH="79" HPOS="273" VPOS="316" ID="st7-88"/><SP/><String HEIGHT="28" CONTENT="has" WIDTH="36" HPOS="361" VPOS="316" ID="st7-89"/><SP/><String HEIGHT="28" CONTENT="created" WIDTH="79" HPOS="406" VPOS="316" ID="st7-90"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="494" VPOS="316" ID="st7-91"/><SP/><String HEIGHT="28" CONTENT="system" WIDTH="75" HPOS="514" VPOS="316" ID="st7-92"/><SP/><String HEIGHT="28" CONTENT="plagued" WIDTH="88" HPOS="598" VPOS="316" ID="st7-93"/><SP/><String HEIGHT="28" CONTENT="with" WIDTH="50" HPOS="695" VPOS="316" ID="st7-94"/><SP/><String HEIGHT="28" CONTENT="endogenous" WIDTH="135" HPOS="754" VPOS="316" ID="st7-95"/></TextLine><TextLine HPOS="94" VPOS="348" ID="tl7-16" WIDTH="695" HEIGHT="28"><String HEIGHT="28" CONTENT="instability" WIDTH="104" HPOS="94" VPOS="348" ID="st7-96"/><String HEIGHT="28" CONTENT="," WIDTH="10" HPOS="198" VPOS="348" ID="st7-97"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="215" VPOS="348" ID="st7-98"/><SP/><String HEIGHT="28" CONTENT="result" WIDTH="61" HPOS="233" VPOS="348" ID="st7-99"/><SP/><String HEIGHT="28" CONTENT="forecasted" WIDTH="112" HPOS="301" VPOS="348" ID="st7-100"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="28" HPOS="419" VPOS="348" ID="st7-101"/><SP/><String HEIGHT="28" CONTENT="numerous" WIDTH="112" HPOS="453" VPOS="348" ID="st7-102"/><SP/><String HEIGHT="28" CONTENT="economic" WIDTH="108" HPOS="572" VPOS="348" ID="st7-103"/><SP/><String HEIGHT="28" CONTENT="theorists" WIDTH="92" HPOS="686" VPOS="348" ID="st7-104"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="778" VPOS="348" ID="st7-105"/></TextLine><TextLine HPOS="788" VPOS="346" ID="tl7-17" WIDTH="16" HEIGHT="20"><String HEIGHT="20" CONTENT="17" WIDTH="16" HPOS="788" VPOS="346" ID="st7-106"/></TextLine><TextLine HPOS="129" VPOS="381" ID="tl7-18" WIDTH="760" HEIGHT="29"><String HEIGHT="29" CONTENT="Highly" WIDTH="79" HPOS="129" VPOS="381" ID="st7-107"/><SP/><String HEIGHT="29" CONTENT="competitive" WIDTH="131" HPOS="215" VPOS="381" ID="st7-108"/><SP/><String HEIGHT="29" CONTENT="markets" WIDTH="87" HPOS="352" VPOS="381" ID="st7-109"/><SP/><String HEIGHT="29" CONTENT="are" WIDTH="33" HPOS="445" VPOS="381" ID="st7-110"/><SP/><String HEIGHT="29" CONTENT="not" WIDTH="38" HPOS="485" VPOS="381" ID="st7-111"/><SP/><String HEIGHT="29" CONTENT="necessarily" WIDTH="117" HPOS="529" VPOS="381" ID="st7-112"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="653" VPOS="381" ID="st7-113"/><SP/><String HEIGHT="29" CONTENT="best" WIDTH="45" HPOS="694" VPOS="381" ID="st7-114"/><SP/><String HEIGHT="29" CONTENT="coordination" WIDTH="144" HPOS="745" VPOS="381" ID="st7-115"/></TextLine><TextLine HPOS="94" VPOS="413" ID="tl7-19" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="tool" WIDTH="45" HPOS="94" VPOS="413" ID="st7-116"/><SP/><String HEIGHT="29" CONTENT="in" WIDTH="22" HPOS="145" VPOS="413" ID="st7-117"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="172" VPOS="413" ID="st7-118"/><SP/><String HEIGHT="29" CONTENT="real" WIDTH="40" HPOS="213" VPOS="413" ID="st7-119"/><SP/><String HEIGHT="29" CONTENT="world" WIDTH="60" HPOS="259" VPOS="413" ID="st7-120"/><String HEIGHT="29" CONTENT="." WIDTH="13" HPOS="319" VPOS="413" ID="st7-121"/><SP/><String HEIGHT="29" CONTENT="Fostering" WIDTH="105" HPOS="338" VPOS="413" ID="st7-122"/><SP/><String HEIGHT="29" CONTENT="more" WIDTH="59" HPOS="449" VPOS="413" ID="st7-123"/><SP/><String HEIGHT="29" CONTENT="competition" WIDTH="136" HPOS="513" VPOS="413" ID="st7-124"/><SP/><String HEIGHT="29" CONTENT="could" WIDTH="62" HPOS="655" VPOS="413" ID="st7-125"/><SP/><String HEIGHT="29" CONTENT="be" WIDTH="26" HPOS="723" VPOS="413" ID="st7-126"/><SP/><String HEIGHT="29" CONTENT="harmful" WIDTH="88" HPOS="755" VPOS="413" ID="st7-127"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="848" VPOS="413" ID="st7-128"/></TextLine><TextLine HPOS="94" VPOS="445" ID="tl7-20" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="94" VPOS="445" ID="st7-129"/><SP/><String HEIGHT="29" CONTENT="1997–99" WIDTH="90" HPOS="136" VPOS="445" ID="st7-130"/><SP/><String HEIGHT="29" CONTENT="crisis" WIDTH="55" HPOS="233" VPOS="445" ID="st7-131"/><SP/><String HEIGHT="29" CONTENT="showed" WIDTH="85" HPOS="295" VPOS="445" ID="st7-132"/><SP/><String HEIGHT="29" CONTENT="several" WIDTH="74" HPOS="387" VPOS="445" ID="st7-133"/><SP/><String HEIGHT="29" CONTENT="cases" WIDTH="54" HPOS="468" VPOS="445" ID="st7-134"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="22" HPOS="529" VPOS="445" ID="st7-135"/><SP/><String HEIGHT="27" CONTENT="adverse" WIDTH="74" HPOS="558" VPOS="447" ID="st7-136"/><SP/><String HEIGHT="27" CONTENT="selection" WIDTH="83" HPOS="639" VPOS="447" ID="st7-137"/><SP/><String HEIGHT="29" CONTENT="in" WIDTH="21" HPOS="729" VPOS="445" ID="st7-138"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="757" VPOS="445" ID="st7-139"/><SP/><String HEIGHT="29" CONTENT="banking" WIDTH="90" HPOS="799" VPOS="445" ID="st7-140"/></TextLine><TextLine HPOS="94" VPOS="477" ID="tl7-21" WIDTH="626" HEIGHT="29"><String HEIGHT="29" CONTENT="sector" WIDTH="66" HPOS="94" VPOS="477" ID="st7-141"/><SP/><String HEIGHT="29" CONTENT="where" WIDTH="68" HPOS="166" VPOS="477" ID="st7-142"/><SP/><String HEIGHT="29" CONTENT="competition" WIDTH="136" HPOS="240" VPOS="477" ID="st7-143"/><SP/><String HEIGHT="29" CONTENT="directly" WIDTH="83" HPOS="382" VPOS="477" ID="st7-144"/><SP/><String HEIGHT="29" CONTENT="led" WIDTH="33" HPOS="471" VPOS="477" ID="st7-145"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="24" HPOS="510" VPOS="477" ID="st7-146"/><SP/><String HEIGHT="29" CONTENT="structural" WIDTH="105" HPOS="540" VPOS="477" ID="st7-147"/><SP/><String HEIGHT="29" CONTENT="frailty" WIDTH="59" HPOS="652" VPOS="477" ID="st7-148"/><String HEIGHT="29" CONTENT="." WIDTH="9" HPOS="711" VPOS="477" ID="st7-149"/></TextLine><TextLine HPOS="720" VPOS="475" ID="tl7-22" WIDTH="16" HEIGHT="21"><String HEIGHT="21" CONTENT="18" WIDTH="16" HPOS="720" VPOS="475" ID="st7-150"/></TextLine><TextLine HPOS="742" VPOS="477" ID="tl7-23" WIDTH="98" HEIGHT="29"><String HEIGHT="29" CONTENT="Even" WIDTH="56" HPOS="742" VPOS="477" ID="st7-151"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="805" VPOS="477" ID="st7-152"/></TextLine><TextLine HPOS="846" VPOS="484" ID="tl7-24" WIDTH="43" HEIGHT="14"><String HEIGHT="14" CONTENT="imf" WIDTH="43" HPOS="846" VPOS="484" ID="st7-153"/></TextLine><TextLine HPOS="94" VPOS="509" ID="tl7-25" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="has" WIDTH="36" HPOS="94" VPOS="509" ID="st7-154"/><SP/><String HEIGHT="29" CONTENT="finally" WIDTH="67" HPOS="135" VPOS="509" ID="st7-155"/><SP/><String HEIGHT="29" CONTENT="acknowledged" WIDTH="157" HPOS="207" VPOS="509" ID="st7-156"/><SP/><String HEIGHT="29" CONTENT="that" WIDTH="44" HPOS="369" VPOS="509" ID="st7-157"/><SP/><String HEIGHT="29" CONTENT="financial" WIDTH="92" HPOS="418" VPOS="509" ID="st7-158"/><SP/><String HEIGHT="29" CONTENT="innovation" WIDTH="119" HPOS="515" VPOS="509" ID="st7-159"/><SP/><String HEIGHT="29" CONTENT="has" WIDTH="36" HPOS="639" VPOS="509" ID="st7-160"/><SP/><String HEIGHT="29" CONTENT="increased" WIDTH="101" HPOS="680" VPOS="509" ID="st7-161"/><SP/><String HEIGHT="29" CONTENT="risk" WIDTH="40" HPOS="786" VPOS="509" ID="st7-162"/><SP/><String HEIGHT="29" CONTENT="with" WIDTH="47" HPOS="831" VPOS="509" ID="st7-163" SUBS_TYPE="HypPart1" SUBS_CONTENT="without"/><HYP CONTENT="-" WIDTH="11" HPOS="878" VPOS="509" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="541" ID="tl7-26" WIDTH="595" HEIGHT="28"><String HEIGHT="28" CONTENT="out" WIDTH="38" HPOS="94" VPOS="541" ID="st7-164" SUBS_TYPE="HypPart2" SUBS_CONTENT="without"/><SP/><String HEIGHT="28" CONTENT="tangible" WIDTH="89" HPOS="139" VPOS="541" ID="st7-165"/><SP/><String HEIGHT="28" CONTENT="improvements" WIDTH="160" HPOS="235" VPOS="541" ID="st7-166"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="401" VPOS="541" ID="st7-167"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="430" VPOS="541" ID="st7-168"/><SP/><String HEIGHT="28" CONTENT="investment" WIDTH="122" HPOS="472" VPOS="541" ID="st7-169"/><SP/><String HEIGHT="28" CONTENT="process" WIDTH="77" HPOS="600" VPOS="541" ID="st7-170"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="677" VPOS="541" ID="st7-171"/></TextLine><TextLine HPOS="689" VPOS="539" ID="tl7-27" WIDTH="17" HEIGHT="20"><String HEIGHT="20" CONTENT="19" WIDTH="17" HPOS="689" VPOS="539" ID="st7-172"/></TextLine><TextLine HPOS="459" VPOS="605" ID="tl7-28" WIDTH="66" HEIGHT="20"><String HEIGHT="20" CONTENT="Table" WIDTH="44" HPOS="459" VPOS="605" ID="st7-173"/><SP/><String HEIGHT="20" CONTENT="3" WIDTH="8" HPOS="509" VPOS="605" ID="st7-174"/><String HEIGHT="20" CONTENT=":" WIDTH="8" HPOS="517" VPOS="605" ID="st7-175"/></TextLine><TextLine HPOS="246" VPOS="638" ID="tl7-29" WIDTH="491" HEIGHT="26"><String HEIGHT="26" CONTENT="Annual" WIDTH="75" HPOS="246" VPOS="638" ID="st7-176"/><SP/><String HEIGHT="26" CONTENT="Current" WIDTH="79" HPOS="328" VPOS="638" ID="st7-177"/><SP/><String HEIGHT="26" CONTENT="Account" WIDTH="86" HPOS="412" VPOS="638" ID="st7-178"/><SP/><String HEIGHT="26" CONTENT="Positions" WIDTH="94" HPOS="504" VPOS="638" ID="st7-179"/><String HEIGHT="26" CONTENT="(" WIDTH="13" HPOS="605" VPOS="638" ID="st7-180"/><String HEIGHT="26" CONTENT="USD" WIDTH="39" HPOS="618" VPOS="638" ID="st7-181"/><SP/><String HEIGHT="26" CONTENT="Billion" WIDTH="63" HPOS="664" VPOS="638" ID="st7-182"/><String HEIGHT="26" CONTENT=")" WIDTH="10" HPOS="727" VPOS="638" ID="st7-183"/></TextLine><TextLine HPOS="106" VPOS="778" ID="tl7-30" WIDTH="42" HEIGHT="23"><String HEIGHT="23" CONTENT="1999" WIDTH="42" HPOS="106" VPOS="778" ID="st7-184"/></TextLine><TextLine HPOS="106" VPOS="819" ID="tl7-31" WIDTH="43" HEIGHT="24"><String HEIGHT="24" CONTENT="2005" WIDTH="43" HPOS="106" VPOS="819" ID="st7-185"/></TextLine><TextLine HPOS="106" VPOS="861" ID="tl7-32" WIDTH="47" HEIGHT="24"><String HEIGHT="24" CONTENT="2006" WIDTH="47" HPOS="106" VPOS="861" ID="st7-186"/></TextLine><TextLine HPOS="106" VPOS="902" ID="tl7-33" WIDTH="46" HEIGHT="24"><String HEIGHT="24" CONTENT="2007" WIDTH="46" HPOS="106" VPOS="902" ID="st7-187"/></TextLine><TextLine HPOS="215" VPOS="737" ID="tl7-34" WIDTH="45" HEIGHT="22"><String HEIGHT="22" CONTENT="Total" WIDTH="45" HPOS="215" VPOS="737" ID="st7-188"/></TextLine><TextLine HPOS="208" VPOS="778" ID="tl7-35" WIDTH="58" HEIGHT="23"><String HEIGHT="23" CONTENT="–107" WIDTH="38" HPOS="208" VPOS="778" ID="st7-189"/><String HEIGHT="23" CONTENT="." WIDTH="10" HPOS="246" VPOS="778" ID="st7-190"/><String HEIGHT="23" CONTENT="9" WIDTH="10" HPOS="256" VPOS="778" ID="st7-191"/></TextLine><TextLine HPOS="208" VPOS="819" ID="tl7-36" WIDTH="58" HEIGHT="24"><String HEIGHT="24" CONTENT="–431" WIDTH="38" HPOS="208" VPOS="819" ID="st7-192"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="246" VPOS="819" ID="st7-193"/><String HEIGHT="24" CONTENT="6" WIDTH="10" HPOS="256" VPOS="819" ID="st7-194"/></TextLine><TextLine HPOS="206" VPOS="861" ID="tl7-37" WIDTH="59" HEIGHT="24"><String HEIGHT="24" CONTENT="–508" WIDTH="39" HPOS="206" VPOS="861" ID="st7-195"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="245" VPOS="861" ID="st7-196"/><String HEIGHT="24" CONTENT="8" WIDTH="10" HPOS="255" VPOS="861" ID="st7-197"/></TextLine><TextLine HPOS="202" VPOS="902" ID="tl7-38" WIDTH="63" HEIGHT="24"><String HEIGHT="24" CONTENT="–499" WIDTH="42" HPOS="202" VPOS="902" ID="st7-198"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="244" VPOS="902" ID="st7-199"/><String HEIGHT="24" CONTENT="8" WIDTH="11" HPOS="254" VPOS="902" ID="st7-200"/></TextLine><TextLine HPOS="299" VPOS="695" ID="tl7-39" WIDTH="168" HEIGHT="23"><String HEIGHT="23" CONTENT="Developed" WIDTH="85" HPOS="299" VPOS="695" ID="st7-201"/><SP/><String HEIGHT="23" CONTENT="countries" WIDTH="77" HPOS="390" VPOS="695" ID="st7-202"/></TextLine><TextLine HPOS="365" VPOS="741" ID="tl7-40" WIDTH="36" HEIGHT="12"><String HEIGHT="12" CONTENT="usa" WIDTH="36" HPOS="365" VPOS="741" ID="st7-203"/></TextLine><TextLine HPOS="349" VPOS="778" ID="tl7-41" WIDTH="61" HEIGHT="23"><String HEIGHT="23" CONTENT="–299" WIDTH="40" HPOS="349" VPOS="778" ID="st7-204"/><String HEIGHT="23" CONTENT="." WIDTH="10" HPOS="389" VPOS="778" ID="st7-205"/><String HEIGHT="23" CONTENT="8" WIDTH="11" HPOS="399" VPOS="778" ID="st7-206"/></TextLine><TextLine HPOS="353" VPOS="819" ID="tl7-42" WIDTH="58" HEIGHT="24"><String HEIGHT="24" CONTENT="–759" WIDTH="38" HPOS="353" VPOS="819" ID="st7-207"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="391" VPOS="819" ID="st7-208"/><String HEIGHT="24" CONTENT="9" WIDTH="10" HPOS="401" VPOS="819" ID="st7-209"/></TextLine><TextLine HPOS="356" VPOS="861" ID="tl7-43" WIDTH="51" HEIGHT="24"><String HEIGHT="24" CONTENT="–811" WIDTH="34" HPOS="356" VPOS="861" ID="st7-210"/><String HEIGHT="24" CONTENT="." WIDTH="8" HPOS="390" VPOS="861" ID="st7-211"/><String HEIGHT="24" CONTENT="5" WIDTH="9" HPOS="398" VPOS="861" ID="st7-212"/></TextLine><TextLine HPOS="349" VPOS="902" ID="tl7-44" WIDTH="60" HEIGHT="24"><String HEIGHT="24" CONTENT="–784" WIDTH="40" HPOS="349" VPOS="902" ID="st7-213"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="389" VPOS="902" ID="st7-214"/><String HEIGHT="24" CONTENT="3" WIDTH="10" HPOS="399" VPOS="902" ID="st7-215"/></TextLine><TextLine HPOS="501" VPOS="736" ID="tl7-45" WIDTH="53" HEIGHT="23"><String HEIGHT="23" CONTENT="Japan" WIDTH="53" HPOS="501" VPOS="736" ID="st7-216"/></TextLine><TextLine HPOS="508" VPOS="778" ID="tl7-46" WIDTH="42" HEIGHT="23"><String HEIGHT="23" CONTENT="114" WIDTH="25" HPOS="508" VPOS="778" ID="st7-217"/><String HEIGHT="23" CONTENT="." WIDTH="8" HPOS="533" VPOS="778" ID="st7-218"/><String HEIGHT="23" CONTENT="5" WIDTH="9" HPOS="541" VPOS="778" ID="st7-219"/></TextLine><TextLine HPOS="507" VPOS="819" ID="tl7-47" WIDTH="44" HEIGHT="24"><String HEIGHT="24" CONTENT="165" WIDTH="26" HPOS="507" VPOS="819" ID="st7-220"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="533" VPOS="819" ID="st7-221"/><String HEIGHT="24" CONTENT="7" WIDTH="9" HPOS="542" VPOS="819" ID="st7-222"/></TextLine><TextLine HPOS="503" VPOS="861" ID="tl7-48" WIDTH="50" HEIGHT="24"><String HEIGHT="24" CONTENT="170" WIDTH="30" HPOS="503" VPOS="861" ID="st7-223"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="533" VPOS="861" ID="st7-224"/><String HEIGHT="24" CONTENT="4" WIDTH="10" HPOS="543" VPOS="861" ID="st7-225"/></TextLine><TextLine HPOS="506" VPOS="902" ID="tl7-49" WIDTH="46" HEIGHT="24"><String HEIGHT="24" CONTENT="195" WIDTH="27" HPOS="506" VPOS="902" ID="st7-226"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="533" VPOS="902" ID="st7-227"/><String HEIGHT="24" CONTENT="9" WIDTH="10" HPOS="542" VPOS="902" ID="st7-228"/></TextLine><TextLine HPOS="660" VPOS="695" ID="tl7-50" WIDTH="170" HEIGHT="23"><String HEIGHT="23" CONTENT="Emerging" WIDTH="88" HPOS="660" VPOS="695" ID="st7-229"/><SP/><String HEIGHT="23" CONTENT="countries" WIDTH="77" HPOS="753" VPOS="695" ID="st7-230"/></TextLine><TextLine HPOS="650" VPOS="737" ID="tl7-51" WIDTH="45" HEIGHT="22"><String HEIGHT="22" CONTENT="Total" WIDTH="45" HPOS="650" VPOS="737" ID="st7-231"/></TextLine><TextLine HPOS="789" VPOS="736" ID="tl7-52" WIDTH="57" HEIGHT="23"><String HEIGHT="23" CONTENT="China" WIDTH="57" HPOS="789" VPOS="736" ID="st7-232"/></TextLine><TextLine HPOS="662" VPOS="778" ID="tl7-53" WIDTH="178" HEIGHT="23"><String HEIGHT="23" CONTENT="37" WIDTH="17" HPOS="662" VPOS="778" ID="st7-233"/><String HEIGHT="23" CONTENT="." WIDTH="8" HPOS="679" VPOS="778" ID="st7-234"/><String HEIGHT="23" CONTENT="8" WIDTH="9" HPOS="687" VPOS="778" ID="st7-235"/><SP/><String HEIGHT="23" CONTENT="21" WIDTH="16" HPOS="807" VPOS="778" ID="st7-236"/><String HEIGHT="23" CONTENT="." WIDTH="8" HPOS="823" VPOS="778" ID="st7-237"/><String HEIGHT="23" CONTENT="1" WIDTH="9" HPOS="831" VPOS="778" ID="st7-238"/></TextLine><TextLine HPOS="652" VPOS="819" ID="tl7-54" WIDTH="190" HEIGHT="24"><String HEIGHT="24" CONTENT="518" WIDTH="27" HPOS="652" VPOS="819" ID="st7-239"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="679" VPOS="819" ID="st7-240"/><String HEIGHT="24" CONTENT="0" WIDTH="9" HPOS="688" VPOS="819" ID="st7-241"/><SP/><String HEIGHT="24" CONTENT="160" WIDTH="29" HPOS="793" VPOS="819" ID="st7-242"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="822" VPOS="819" ID="st7-243"/><String HEIGHT="24" CONTENT="8" WIDTH="10" HPOS="832" VPOS="819" ID="st7-244"/></TextLine><TextLine HPOS="649" VPOS="861" ID="tl7-55" WIDTH="193" HEIGHT="24"><String HEIGHT="24" CONTENT="681" WIDTH="28" HPOS="649" VPOS="861" ID="st7-245"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="677" VPOS="861" ID="st7-246"/><String HEIGHT="24" CONTENT="6" WIDTH="10" HPOS="687" VPOS="861" ID="st7-247"/><SP/><String HEIGHT="24" CONTENT="250" WIDTH="30" HPOS="792" VPOS="861" ID="st7-248"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="822" VPOS="861" ID="st7-249"/><String HEIGHT="24" CONTENT="0" WIDTH="10" HPOS="832" VPOS="861" ID="st7-250"/></TextLine><TextLine HPOS="647" VPOS="902" ID="tl7-56" WIDTH="196" HEIGHT="24"><String HEIGHT="24" CONTENT="684" WIDTH="30" HPOS="647" VPOS="902" ID="st7-251"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="677" VPOS="902" ID="st7-252"/><String HEIGHT="24" CONTENT="2" WIDTH="11" HPOS="687" VPOS="902" ID="st7-253"/><SP/><String HEIGHT="24" CONTENT="380" WIDTH="30" HPOS="792" VPOS="902" ID="st7-254"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="822" VPOS="902" ID="st7-255"/><String HEIGHT="24" CONTENT="0" WIDTH="11" HPOS="832" VPOS="902" ID="st7-256"/></TextLine><TextLine HPOS="94" VPOS="951" ID="tl7-57" WIDTH="72" HEIGHT="23"><String HEIGHT="23" CONTENT="Source" WIDTH="61" HPOS="94" VPOS="951" ID="st7-257"/><String HEIGHT="23" CONTENT=":" WIDTH="11" HPOS="155" VPOS="951" ID="st7-258"/></TextLine><TextLine HPOS="171" VPOS="956" ID="tl7-58" WIDTH="37" HEIGHT="12"><String HEIGHT="12" CONTENT="fmi" WIDTH="37" HPOS="171" VPOS="956" ID="st7-259"/></TextLine><TextLine HPOS="208" VPOS="951" ID="tl7-59" WIDTH="359" HEIGHT="23"><String HEIGHT="23" CONTENT="," WIDTH="6" HPOS="208" VPOS="951" ID="st7-260"/><SP/><String HEIGHT="22" CONTENT="World" WIDTH="55" HPOS="220" VPOS="952" ID="st7-261"/><SP/><String HEIGHT="22" CONTENT="Economic" WIDTH="82" HPOS="281" VPOS="952" ID="st7-262"/><SP/><String HEIGHT="22" CONTENT="Outlook" WIDTH="65" HPOS="368" VPOS="952" ID="st7-263"/><String HEIGHT="22" CONTENT="," WIDTH="10" HPOS="433" VPOS="952" ID="st7-264"/><SP/><String HEIGHT="23" CONTENT="Washington" WIDTH="109" HPOS="448" VPOS="951" ID="st7-265"/><String HEIGHT="23" CONTENT="," WIDTH="10" HPOS="557" VPOS="951" ID="st7-266"/></TextLine><TextLine HPOS="573" VPOS="956" ID="tl7-60" WIDTH="28" HEIGHT="12"><String HEIGHT="12" CONTENT="dc" WIDTH="28" HPOS="573" VPOS="956" ID="st7-267"/></TextLine><TextLine HPOS="606" VPOS="951" ID="tl7-61" WIDTH="152" HEIGHT="23"><String HEIGHT="23" CONTENT="(" WIDTH="10" HPOS="606" VPOS="951" ID="st7-268"/><String HEIGHT="23" CONTENT="October" WIDTH="77" HPOS="616" VPOS="951" ID="st7-269"/><SP/><String HEIGHT="23" CONTENT="2007" WIDTH="40" HPOS="698" VPOS="951" ID="st7-270"/><String HEIGHT="23" CONTENT=")" WIDTH="10" HPOS="738" VPOS="951" ID="st7-271"/><String HEIGHT="23" CONTENT="." WIDTH="10" HPOS="748" VPOS="951" ID="st7-272"/></TextLine><TextLine HPOS="94" VPOS="1006" ID="tl7-62" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="16" WIDTH="17" HPOS="94" VPOS="1006" ID="st7-273"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="111" VPOS="1006" ID="st7-274"/><SP/><String HEIGHT="24" CONTENT="See" WIDTH="32" HPOS="129" VPOS="1006" ID="st7-275"/><SP/><String HEIGHT="24" CONTENT="Rodrik" WIDTH="62" HPOS="166" VPOS="1006" ID="st7-276"/><String HEIGHT="24" CONTENT="," WIDTH="11" HPOS="228" VPOS="1006" ID="st7-277"/><SP/><String HEIGHT="24" CONTENT="D" WIDTH="12" HPOS="243" VPOS="1006" ID="st7-278"/><String HEIGHT="24" CONTENT="." WIDTH="12" HPOS="255" VPOS="1006" ID="st7-279"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="272" VPOS="1006" ID="st7-280"/><String HEIGHT="24" CONTENT="2006" WIDTH="41" HPOS="282" VPOS="1006" ID="st7-281"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="323" VPOS="1006" ID="st7-282"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="333" VPOS="1006" ID="st7-283"/><String HEIGHT="24" CONTENT="»" WIDTH="11" HPOS="348" VPOS="1006" ID="st7-284"/><String HEIGHT="24" CONTENT="The" WIDTH="35" HPOS="359" VPOS="1006" ID="st7-285"/><SP/><String HEIGHT="24" CONTENT="Social" WIDTH="56" HPOS="399" VPOS="1006" ID="st7-286"/><SP/><String HEIGHT="24" CONTENT="Cost" WIDTH="44" HPOS="460" VPOS="1006" ID="st7-287"/><SP/><String HEIGHT="24" CONTENT="of" WIDTH="20" HPOS="508" VPOS="1006" ID="st7-288"/><SP/><String HEIGHT="24" CONTENT="Foreign" WIDTH="74" HPOS="532" VPOS="1006" ID="st7-289"/><SP/><String HEIGHT="24" CONTENT="Exchange" WIDTH="90" HPOS="611" VPOS="1006" ID="st7-290"/><SP/><String HEIGHT="24" CONTENT="Reserves," WIDTH="86" HPOS="706" VPOS="1006" ID="st7-291"/><String HEIGHT="24" CONTENT="«" WIDTH="10" HPOS="792" VPOS="1006" ID="st7-292"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="17" HPOS="807" VPOS="1006" ID="st7-293"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="824" VPOS="1006" ID="st7-294"/><SP/><String HEIGHT="23" CONTENT="Inter" WIDTH="44" HPOS="837" VPOS="1007" ID="st7-295" SUBS_TYPE="HypPart1" SUBS_CONTENT="International"/><HYP CONTENT="-" WIDTH="8" HPOS="881" VPOS="1007" HEIGHT="23"/></TextLine><TextLine HPOS="129" VPOS="1035" ID="tl7-63" WIDTH="383" HEIGHT="22"><String HEIGHT="22" CONTENT="national" WIDTH="75" HPOS="129" VPOS="1035" ID="st7-296" SUBS_TYPE="HypPart2" SUBS_CONTENT="International"/><SP/><String HEIGHT="22" CONTENT="Economic" WIDTH="82" HPOS="209" VPOS="1035" ID="st7-297"/><SP/><String HEIGHT="22" CONTENT="Journal" WIDTH="63" HPOS="297" VPOS="1035" ID="st7-298"/><String HEIGHT="22" CONTENT="," WIDTH="10" HPOS="360" VPOS="1035" ID="st7-299"/><SP/><String HEIGHT="23" CONTENT="20" WIDTH="23" HPOS="376" VPOS="1034" ID="st7-300"/><String HEIGHT="23" CONTENT="(" WIDTH="8" HPOS="404" VPOS="1034" ID="st7-301"/><String HEIGHT="23" CONTENT="3" WIDTH="9" HPOS="412" VPOS="1034" ID="st7-302"/><String HEIGHT="23" CONTENT=")" WIDTH="8" HPOS="421" VPOS="1034" ID="st7-303"/><String HEIGHT="23" CONTENT=":" WIDTH="9" HPOS="429" VPOS="1034" ID="st7-304"/><SP/><String HEIGHT="23" CONTENT="253–66" WIDTH="58" HPOS="444" VPOS="1034" ID="st7-305"/><String HEIGHT="23" CONTENT="." WIDTH="10" HPOS="502" VPOS="1034" ID="st7-306"/></TextLine><TextLine HPOS="94" VPOS="1061" ID="tl7-64" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="17" WIDTH="15" HPOS="94" VPOS="1061" ID="st7-307"/><String HEIGHT="24" CONTENT="." WIDTH="8" HPOS="109" VPOS="1061" ID="st7-308"/><SP/><String HEIGHT="24" CONTENT="Rothschild" WIDTH="99" HPOS="129" VPOS="1061" ID="st7-309"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="228" VPOS="1061" ID="st7-310"/><SP/><String HEIGHT="24" CONTENT="M" WIDTH="14" HPOS="246" VPOS="1061" ID="st7-311"/><String HEIGHT="24" CONTENT="." WIDTH="14" HPOS="260" VPOS="1061" ID="st7-312"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="35" HPOS="281" VPOS="1061" ID="st7-313"/><SP/><String HEIGHT="24" CONTENT="J" WIDTH="8" HPOS="324" VPOS="1061" ID="st7-314"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="332" VPOS="1061" ID="st7-315"/><String HEIGHT="24" CONTENT="E" WIDTH="8" HPOS="341" VPOS="1061" ID="st7-316"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="349" VPOS="1061" ID="st7-317"/><SP/><String HEIGHT="24" CONTENT="Stiglitz" WIDTH="67" HPOS="366" VPOS="1061" ID="st7-318"/><String HEIGHT="24" CONTENT="(" WIDTH="9" HPOS="441" VPOS="1061" ID="st7-319"/><String HEIGHT="24" CONTENT="1977" WIDTH="37" HPOS="450" VPOS="1061" ID="st7-320"/><String HEIGHT="24" CONTENT=")" WIDTH="9" HPOS="487" VPOS="1061" ID="st7-321"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="496" VPOS="1061" ID="st7-322"/><String HEIGHT="24" CONTENT="»" WIDTH="10" HPOS="513" VPOS="1061" ID="st7-323"/><String HEIGHT="24" CONTENT="Equilibrium" WIDTH="116" HPOS="523" VPOS="1061" ID="st7-324"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="19" HPOS="647" VPOS="1061" ID="st7-325"/><SP/><String HEIGHT="24" CONTENT="Competitive" WIDTH="117" HPOS="673" VPOS="1061" ID="st7-326"/><SP/><String HEIGHT="24" CONTENT="Insurance" WIDTH="91" HPOS="798" VPOS="1061" ID="st7-327"/></TextLine><TextLine HPOS="129" VPOS="1089" ID="tl7-65" WIDTH="760" HEIGHT="24"><String HEIGHT="24" CONTENT="Markets," WIDTH="81" HPOS="129" VPOS="1089" ID="st7-328"/><String HEIGHT="24" CONTENT="«" WIDTH="11" HPOS="210" VPOS="1089" ID="st7-329"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="19" HPOS="225" VPOS="1089" ID="st7-330"/><SP/><String HEIGHT="23" CONTENT="Quarterly" WIDTH="87" HPOS="248" VPOS="1090" ID="st7-331"/><SP/><String HEIGHT="23" CONTENT="Journal" WIDTH="67" HPOS="339" VPOS="1090" ID="st7-332"/><SP/><String HEIGHT="23" CONTENT="of" WIDTH="14" HPOS="411" VPOS="1090" ID="st7-333"/><SP/><String HEIGHT="23" CONTENT="Economics" WIDTH="83" HPOS="430" VPOS="1090" ID="st7-334"/><String HEIGHT="23" CONTENT="," WIDTH="10" HPOS="513" VPOS="1090" ID="st7-335"/><SP/><String HEIGHT="24" CONTENT="90" WIDTH="25" HPOS="527" VPOS="1089" ID="st7-336"/><String HEIGHT="24" CONTENT="(" WIDTH="8" HPOS="556" VPOS="1089" ID="st7-337"/><String HEIGHT="24" CONTENT="3" WIDTH="9" HPOS="564" VPOS="1089" ID="st7-338"/><String HEIGHT="24" CONTENT=")" WIDTH="8" HPOS="573" VPOS="1089" ID="st7-339"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="581" VPOS="1089" ID="st7-340"/><SP/><String HEIGHT="24" CONTENT="629–49" WIDTH="65" HPOS="594" VPOS="1089" ID="st7-341"/><String HEIGHT="24" CONTENT=";" WIDTH="11" HPOS="659" VPOS="1089" ID="st7-342"/><SP/><String HEIGHT="24" CONTENT="Grossman" WIDTH="89" HPOS="675" VPOS="1089" ID="st7-343"/><String HEIGHT="24" CONTENT="," WIDTH="12" HPOS="764" VPOS="1089" ID="st7-344"/><SP/><String HEIGHT="24" CONTENT="S" WIDTH="8" HPOS="780" VPOS="1089" ID="st7-345"/><String HEIGHT="24" CONTENT="." WIDTH="8" HPOS="788" VPOS="1089" ID="st7-346"/><String HEIGHT="24" CONTENT="J" WIDTH="8" HPOS="796" VPOS="1089" ID="st7-347"/><String HEIGHT="24" CONTENT="." WIDTH="8" HPOS="804" VPOS="1089" ID="st7-348"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="35" HPOS="816" VPOS="1089" ID="st7-349"/><SP/><String HEIGHT="24" CONTENT="J" WIDTH="8" HPOS="855" VPOS="1089" ID="st7-350"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="863" VPOS="1089" ID="st7-351"/><String HEIGHT="24" CONTENT="E" WIDTH="8" HPOS="872" VPOS="1089" ID="st7-352"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="880" VPOS="1089" ID="st7-353"/></TextLine><TextLine HPOS="129" VPOS="1117" ID="tl7-66" WIDTH="760" HEIGHT="24"><String HEIGHT="24" CONTENT="Stiglitz" WIDTH="67" HPOS="129" VPOS="1117" ID="st7-354"/><String HEIGHT="24" CONTENT="(" WIDTH="9" HPOS="204" VPOS="1117" ID="st7-355"/><String HEIGHT="24" CONTENT="1980" WIDTH="38" HPOS="213" VPOS="1117" ID="st7-356"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="251" VPOS="1117" ID="st7-357"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="261" VPOS="1117" ID="st7-358"/><String HEIGHT="24" CONTENT="»" WIDTH="14" HPOS="278" VPOS="1117" ID="st7-359"/><String HEIGHT="24" CONTENT="On" WIDTH="28" HPOS="292" VPOS="1117" ID="st7-360"/><SP/><String HEIGHT="24" CONTENT="the" WIDTH="29" HPOS="328" VPOS="1117" ID="st7-361"/><SP/><String HEIGHT="24" CONTENT="Impossibility" WIDTH="122" HPOS="365" VPOS="1117" ID="st7-362"/><SP/><String HEIGHT="24" CONTENT="of" WIDTH="19" HPOS="495" VPOS="1117" ID="st7-363"/><SP/><String HEIGHT="24" CONTENT="Informationally" WIDTH="147" HPOS="522" VPOS="1117" ID="st7-364"/><SP/><String HEIGHT="24" CONTENT="Efficient" WIDTH="79" HPOS="677" VPOS="1117" ID="st7-365"/><SP/><String HEIGHT="24" CONTENT="Markets," WIDTH="81" HPOS="764" VPOS="1117" ID="st7-366"/><String HEIGHT="24" CONTENT="«" WIDTH="11" HPOS="845" VPOS="1117" ID="st7-367"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="17" HPOS="863" VPOS="1117" ID="st7-368"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="880" VPOS="1117" ID="st7-369"/></TextLine><TextLine HPOS="129" VPOS="1146" ID="tl7-67" WIDTH="402" HEIGHT="23"><String HEIGHT="23" CONTENT="American" WIDTH="87" HPOS="129" VPOS="1146" ID="st7-370"/><SP/><String HEIGHT="23" CONTENT="Economic" WIDTH="82" HPOS="222" VPOS="1146" ID="st7-371"/><SP/><String HEIGHT="23" CONTENT="Review" WIDTH="55" HPOS="310" VPOS="1146" ID="st7-372"/><String HEIGHT="23" CONTENT="," WIDTH="10" HPOS="365" VPOS="1146" ID="st7-373"/><SP/><String HEIGHT="24" CONTENT="70" WIDTH="23" HPOS="380" VPOS="1145" ID="st7-374"/><String HEIGHT="24" CONTENT="(" WIDTH="8" HPOS="409" VPOS="1145" ID="st7-375"/><String HEIGHT="24" CONTENT="3" WIDTH="9" HPOS="417" VPOS="1145" ID="st7-376"/><String HEIGHT="24" CONTENT=")" WIDTH="8" HPOS="426" VPOS="1145" ID="st7-377"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="434" VPOS="1145" ID="st7-378"/><SP/><String HEIGHT="24" CONTENT="393–408" WIDTH="72" HPOS="448" VPOS="1145" ID="st7-379"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="520" VPOS="1145" ID="st7-380"/></TextLine><TextLine HPOS="94" VPOS="1173" ID="tl7-68" WIDTH="795" HEIGHT="23"><String HEIGHT="23" CONTENT="18" WIDTH="16" HPOS="94" VPOS="1173" ID="st7-381"/><String HEIGHT="23" CONTENT="." WIDTH="8" HPOS="110" VPOS="1173" ID="st7-382"/><SP/><String HEIGHT="23" CONTENT="Miotti" WIDTH="58" HPOS="129" VPOS="1173" ID="st7-383"/><String HEIGHT="23" CONTENT="," WIDTH="10" HPOS="187" VPOS="1173" ID="st7-384"/><SP/><String HEIGHT="23" CONTENT="L" WIDTH="10" HPOS="204" VPOS="1173" ID="st7-385"/><String HEIGHT="23" CONTENT="." WIDTH="10" HPOS="214" VPOS="1173" ID="st7-386"/><SP/><String HEIGHT="23" CONTENT="and" WIDTH="35" HPOS="231" VPOS="1173" ID="st7-387"/><SP/><String HEIGHT="23" CONTENT="D" WIDTH="12" HPOS="273" VPOS="1173" ID="st7-388"/><String HEIGHT="23" CONTENT="." WIDTH="12" HPOS="285" VPOS="1173" ID="st7-389"/><SP/><String HEIGHT="23" CONTENT="Plihon" WIDTH="63" HPOS="304" VPOS="1173" ID="st7-390"/><String HEIGHT="23" CONTENT="(" WIDTH="9" HPOS="374" VPOS="1173" ID="st7-391"/><String HEIGHT="23" CONTENT="2001" WIDTH="40" HPOS="383" VPOS="1173" ID="st7-392"/><String HEIGHT="23" CONTENT=")" WIDTH="10" HPOS="423" VPOS="1173" ID="st7-393"/><String HEIGHT="23" CONTENT=":" WIDTH="10" HPOS="433" VPOS="1173" ID="st7-394"/><String HEIGHT="23" CONTENT="»" WIDTH="9" HPOS="450" VPOS="1173" ID="st7-395"/><String HEIGHT="23" CONTENT="Libéralisation" WIDTH="130" HPOS="459" VPOS="1173" ID="st7-396"/><SP/><String HEIGHT="23" CONTENT="financière" WIDTH="88" HPOS="597" VPOS="1173" ID="st7-397"/><String HEIGHT="23" CONTENT="," WIDTH="9" HPOS="685" VPOS="1173" ID="st7-398"/><SP/><String HEIGHT="23" CONTENT="speculation" WIDTH="106" HPOS="701" VPOS="1173" ID="st7-399"/><SP/><String HEIGHT="23" CONTENT="et" WIDTH="17" HPOS="815" VPOS="1173" ID="st7-400"/><SP/><String HEIGHT="23" CONTENT="crises" WIDTH="50" HPOS="839" VPOS="1173" ID="st7-401"/></TextLine><TextLine HPOS="129" VPOS="1200" ID="tl7-69" WIDTH="516" HEIGHT="24"><String HEIGHT="24" CONTENT="bancaires," WIDTH="92" HPOS="129" VPOS="1200" ID="st7-402"/><String HEIGHT="24" CONTENT="«" WIDTH="10" HPOS="221" VPOS="1200" ID="st7-403"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="17" HPOS="236" VPOS="1200" ID="st7-404"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="253" VPOS="1200" ID="st7-405"/><SP/><String HEIGHT="23" CONTENT="Économie" WIDTH="82" HPOS="268" VPOS="1201" ID="st7-406"/><SP/><String HEIGHT="23" CONTENT="Internationale" WIDTH="123" HPOS="356" VPOS="1201" ID="st7-407"/><String HEIGHT="23" CONTENT="," WIDTH="9" HPOS="479" VPOS="1201" ID="st7-408"/><SP/><String HEIGHT="24" CONTENT="No" WIDTH="24" HPOS="494" VPOS="1200" ID="st7-409"/><String HEIGHT="24" CONTENT="." WIDTH="13" HPOS="518" VPOS="1200" ID="st7-410"/><SP/><String HEIGHT="24" CONTENT="85" WIDTH="18" HPOS="536" VPOS="1200" ID="st7-411"/><String HEIGHT="24" CONTENT="(" WIDTH="8" HPOS="560" VPOS="1200" ID="st7-412"/><String HEIGHT="24" CONTENT="1" WIDTH="8" HPOS="568" VPOS="1200" ID="st7-413"/><String HEIGHT="24" CONTENT=")" WIDTH="8" HPOS="576" VPOS="1200" ID="st7-414"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="584" VPOS="1200" ID="st7-415"/><SP/><String HEIGHT="24" CONTENT="3–36" WIDTH="37" HPOS="598" VPOS="1200" ID="st7-416"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="635" VPOS="1200" ID="st7-417"/></TextLine><TextLine HPOS="94" VPOS="1228" ID="tl7-70" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="19" WIDTH="17" HPOS="94" VPOS="1228" ID="st7-418"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="111" VPOS="1228" ID="st7-419"/><SP/><String HEIGHT="24" CONTENT="For" WIDTH="34" HPOS="129" VPOS="1228" ID="st7-420"/><SP/><String HEIGHT="24" CONTENT="example" WIDTH="72" HPOS="170" VPOS="1228" ID="st7-421"/><String HEIGHT="24" CONTENT="," WIDTH="11" HPOS="242" VPOS="1228" ID="st7-422"/><SP/><String HEIGHT="24" CONTENT="a" WIDTH="10" HPOS="260" VPOS="1228" ID="st7-423"/><SP/><String HEIGHT="24" CONTENT="number" WIDTH="74" HPOS="277" VPOS="1228" ID="st7-424"/><SP/><String HEIGHT="24" CONTENT="of" WIDTH="19" HPOS="358" VPOS="1228" ID="st7-425"/><String HEIGHT="24" CONTENT="»" WIDTH="11" HPOS="384" VPOS="1228" ID="st7-426"/><String HEIGHT="24" CONTENT="complex" WIDTH="79" HPOS="395" VPOS="1228" ID="st7-427"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="35" HPOS="481" VPOS="1228" ID="st7-428"/><SP/><String HEIGHT="24" CONTENT="multilayered" WIDTH="117" HPOS="523" VPOS="1228" ID="st7-429"/><SP/><String HEIGHT="24" CONTENT="products" WIDTH="82" HPOS="647" VPOS="1228" ID="st7-430"/><SP/><String HEIGHT="24" CONTENT="added" WIDTH="57" HPOS="736" VPOS="1228" ID="st7-431"/><SP/><String HEIGHT="24" CONTENT="little" WIDTH="43" HPOS="800" VPOS="1228" ID="st7-432"/><SP/><String HEIGHT="24" CONTENT="eco" WIDTH="30" HPOS="850" VPOS="1228" ID="st7-433" SUBS_TYPE="HypPart1" SUBS_CONTENT="economic"/><HYP CONTENT="-" WIDTH="9" HPOS="880" VPOS="1228" HEIGHT="24"/></TextLine><TextLine HPOS="129" VPOS="1256" ID="tl7-71" WIDTH="760" HEIGHT="24"><String HEIGHT="24" CONTENT="nomic" WIDTH="59" HPOS="129" VPOS="1256" ID="st7-434" SUBS_TYPE="HypPart2" SUBS_CONTENT="economic"/><SP/><String HEIGHT="24" CONTENT="value" WIDTH="48" HPOS="194" VPOS="1256" ID="st7-435"/><SP/><String HEIGHT="24" CONTENT="to" WIDTH="20" HPOS="247" VPOS="1256" ID="st7-436"/><SP/><String HEIGHT="24" CONTENT="the" WIDTH="30" HPOS="272" VPOS="1256" ID="st7-437"/><SP/><String HEIGHT="24" CONTENT="financial" WIDTH="79" HPOS="307" VPOS="1256" ID="st7-438"/><SP/><String HEIGHT="24" CONTENT="system" WIDTH="59" HPOS="391" VPOS="1256" ID="st7-439"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="450" VPOS="1256" ID="st7-440"/><SP/><String HEIGHT="24" CONTENT="Further" WIDTH="66" HPOS="465" VPOS="1256" ID="st7-441"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="531" VPOS="1256" ID="st7-442"/><SP/><String HEIGHT="24" CONTENT="they" WIDTH="40" HPOS="547" VPOS="1256" ID="st7-443"/><SP/><String HEIGHT="24" CONTENT="likely" WIDTH="49" HPOS="592" VPOS="1256" ID="st7-444"/><SP/><String HEIGHT="24" CONTENT="exacerbated" WIDTH="110" HPOS="646" VPOS="1256" ID="st7-445"/><SP/><String HEIGHT="24" CONTENT="the" WIDTH="29" HPOS="761" VPOS="1256" ID="st7-446"/><SP/><String HEIGHT="24" CONTENT="depth" WIDTH="55" HPOS="795" VPOS="1256" ID="st7-447"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="34" HPOS="855" VPOS="1256" ID="st7-448"/></TextLine><TextLine HPOS="129" VPOS="1284" ID="tl7-72" WIDTH="209" HEIGHT="23"><String HEIGHT="23" CONTENT="duration" WIDTH="81" HPOS="129" VPOS="1284" ID="st7-449"/><SP/><String HEIGHT="23" CONTENT="of" WIDTH="19" HPOS="216" VPOS="1284" ID="st7-450"/><SP/><String HEIGHT="23" CONTENT="the" WIDTH="30" HPOS="240" VPOS="1284" ID="st7-451"/><SP/><String HEIGHT="23" CONTENT="crisis," WIDTH="54" HPOS="276" VPOS="1284" ID="st7-452"/><String HEIGHT="23" CONTENT="«" WIDTH="8" HPOS="330" VPOS="1284" ID="st7-453"/></TextLine><TextLine HPOS="343" VPOS="1289" ID="tl7-73" WIDTH="36" HEIGHT="12"><String HEIGHT="12" CONTENT="imf" WIDTH="36" HPOS="343" VPOS="1289" ID="st7-454"/></TextLine><TextLine HPOS="385" VPOS="1284" ID="tl7-74" WIDTH="504" HEIGHT="23"><String HEIGHT="23" CONTENT="(" WIDTH="10" HPOS="385" VPOS="1284" ID="st7-455"/><String HEIGHT="23" CONTENT="2008" WIDTH="40" HPOS="395" VPOS="1284" ID="st7-456"/><String HEIGHT="23" CONTENT=")" WIDTH="10" HPOS="435" VPOS="1284" ID="st7-457"/><String HEIGHT="23" CONTENT=":" WIDTH="11" HPOS="445" VPOS="1284" ID="st7-458"/><SP/><String HEIGHT="22" CONTENT="Containing" WIDTH="102" HPOS="462" VPOS="1285" ID="st7-459"/><SP/><String HEIGHT="22" CONTENT="Systemic" WIDTH="72" HPOS="570" VPOS="1285" ID="st7-460"/><SP/><String HEIGHT="22" CONTENT="Risks" WIDTH="44" HPOS="648" VPOS="1285" ID="st7-461"/><SP/><String HEIGHT="22" CONTENT="and" WIDTH="34" HPOS="698" VPOS="1285" ID="st7-462"/><SP/><String HEIGHT="22" CONTENT="Restoring" WIDTH="83" HPOS="738" VPOS="1285" ID="st7-463"/><SP/><String HEIGHT="22" CONTENT="Finan" WIDTH="52" HPOS="827" VPOS="1285" ID="st7-464" SUBS_TYPE="HypPart1" SUBS_CONTENT="Financial"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="1285" HEIGHT="22"/></TextLine><TextLine HPOS="129" VPOS="1313" ID="tl7-75" WIDTH="643" HEIGHT="22"><String HEIGHT="22" CONTENT="cial" WIDTH="31" HPOS="129" VPOS="1313" ID="st7-465" SUBS_TYPE="HypPart2" SUBS_CONTENT="Financial"/><SP/><String HEIGHT="22" CONTENT="Soundness" WIDTH="84" HPOS="165" VPOS="1313" ID="st7-466"/><String HEIGHT="22" CONTENT="," WIDTH="10" HPOS="249" VPOS="1313" ID="st7-467"/><SP/><String HEIGHT="24" CONTENT="Global" WIDTH="64" HPOS="264" VPOS="1311" ID="st7-468"/><SP/><String HEIGHT="24" CONTENT="Financial" WIDTH="84" HPOS="334" VPOS="1311" ID="st7-469"/><SP/><String HEIGHT="24" CONTENT="Stability" WIDTH="77" HPOS="424" VPOS="1311" ID="st7-470"/><SP/><String HEIGHT="24" CONTENT="Report" WIDTH="67" HPOS="506" VPOS="1311" ID="st7-471"/><String HEIGHT="24" CONTENT="(" WIDTH="8" HPOS="578" VPOS="1311" ID="st7-472"/><String HEIGHT="24" CONTENT="April" WIDTH="44" HPOS="586" VPOS="1311" ID="st7-473"/><String HEIGHT="24" CONTENT=")" WIDTH="9" HPOS="630" VPOS="1311" ID="st7-474"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="639" VPOS="1311" ID="st7-475"/><SP/><String HEIGHT="24" CONTENT="Washington" WIDTH="109" HPOS="653" VPOS="1311" ID="st7-476"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="762" VPOS="1311" ID="st7-477"/></TextLine><TextLine HPOS="778" VPOS="1317" ID="tl7-76" WIDTH="28" HEIGHT="12"><String HEIGHT="12" CONTENT="dc" WIDTH="28" HPOS="778" VPOS="1317" ID="st7-478"/></TextLine><TextLine HPOS="806" VPOS="1311" ID="tl7-77" WIDTH="39" HEIGHT="24"><String HEIGHT="24" CONTENT=":" WIDTH="7" HPOS="806" VPOS="1311" ID="st7-479"/><SP/><String HEIGHT="24" CONTENT="54" WIDTH="18" HPOS="818" VPOS="1311" ID="st7-480"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="836" VPOS="1311" ID="st7-481"/></TextLine><TextLine HPOS="94" VPOS="1398" ID="tl7-78" WIDTH="30" HEIGHT="11"><String HEIGHT="11" CONTENT="ipg" WIDTH="30" HPOS="94" VPOS="1398" ID="st7-482"/></TextLine><TextLine HPOS="128" VPOS="1394" ID="tl7-79" WIDTH="56" HEIGHT="21"><String HEIGHT="21" CONTENT="1/2009" WIDTH="56" HPOS="128" VPOS="1394" ID="st7-483"/></TextLine><TextLine HPOS="695" VPOS="1395" ID="tl7-80" WIDTH="153" HEIGHT="18"><String HEIGHT="18" CONTENT="Sapir" WIDTH="33" HPOS="695" VPOS="1395" ID="st7-484"/><String HEIGHT="18" CONTENT="," WIDTH="7" HPOS="728" VPOS="1395" ID="st7-485"/><SP/><String HEIGHT="18" CONTENT="Financial" WIDTH="65" HPOS="739" VPOS="1395" ID="st7-486"/><SP/><String HEIGHT="18" CONTENT="Crisis" WIDTH="39" HPOS="809" VPOS="1395" ID="st7-487"/></TextLine><TextLine HPOS="868" VPOS="1388" ID="tl7-81" WIDTH="21" HEIGHT="29"><String HEIGHT="29" CONTENT="33" WIDTH="21" HPOS="868" VPOS="1388" ID="st7-488"/></TextLine></TextBlock></PrintSpace></Page><Page WIDTH="984" PHYSICAL_IMG_NR="8" ID="p658176" HEIGHT="1472"><PrintSpace WIDTH="984" HPOS="0" VPOS="0" ID="ps658176" HEIGHT="1472"><TextBlock WIDTH="984" HPOS="0" VPOS="0" ID="tb658176" HEIGHT="1472"><TextLine HPOS="129" VPOS="94" ID="tl8-0" WIDTH="760" HEIGHT="28"><String HEIGHT="28" CONTENT="Three" WIDTH="65" HPOS="129" VPOS="94" ID="st8-0"/><SP/><String HEIGHT="28" CONTENT="major" WIDTH="65" HPOS="203" VPOS="94" ID="st8-1"/><SP/><String HEIGHT="28" CONTENT="features" WIDTH="86" HPOS="276" VPOS="94" ID="st8-2"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="370" VPOS="94" ID="st8-3"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="401" VPOS="94" ID="st8-4"/><SP/><String HEIGHT="28" CONTENT="current" WIDTH="81" HPOS="444" VPOS="94" ID="st8-5"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="55" HPOS="533" VPOS="94" ID="st8-6"/><SP/><String HEIGHT="28" CONTENT="are" WIDTH="33" HPOS="596" VPOS="94" ID="st8-7"/><SP/><String HEIGHT="28" CONTENT="making" WIDTH="83" HPOS="637" VPOS="94" ID="st8-8"/><SP/><String HEIGHT="28" CONTENT="it" WIDTH="16" HPOS="728" VPOS="94" ID="st8-9"/><SP/><String HEIGHT="28" CONTENT="truly" WIDTH="52" HPOS="753" VPOS="94" ID="st8-10"/><SP/><String HEIGHT="28" CONTENT="global" WIDTH="65" HPOS="813" VPOS="94" ID="st8-11"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="878" VPOS="94" ID="st8-12"/></TextLine><TextLine HPOS="94" VPOS="126" ID="tl8-1" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="94" VPOS="126" ID="st8-13"/><SP/><String HEIGHT="28" CONTENT="first" WIDTH="44" HPOS="147" VPOS="126" ID="st8-14"/><SP/><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="200" VPOS="126" ID="st8-15"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="227" VPOS="126" ID="st8-16"/><SP/><String HEIGHT="28" CONTENT="wage" WIDTH="49" HPOS="271" VPOS="126" ID="st8-17"/><String HEIGHT="28" CONTENT="-" WIDTH="12" HPOS="320" VPOS="126" ID="st8-18"/><String HEIGHT="28" CONTENT="led" WIDTH="38" HPOS="332" VPOS="126" ID="st8-19"/><SP/><String HEIGHT="28" CONTENT="deflation" WIDTH="98" HPOS="380" VPOS="126" ID="st8-20"/><SP/><String HEIGHT="28" CONTENT="induced" WIDTH="89" HPOS="488" VPOS="126" ID="st8-21"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="28" HPOS="586" VPOS="126" ID="st8-22"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="623" VPOS="126" ID="st8-23"/><SP/><String HEIGHT="28" CONTENT="combination" WIDTH="142" HPOS="644" VPOS="126" ID="st8-24"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="795" VPOS="126" ID="st8-25"/><SP/><String HEIGHT="28" CONTENT="Asian" WIDTH="62" HPOS="827" VPOS="126" ID="st8-26"/></TextLine><TextLine HPOS="94" VPOS="158" ID="tl8-2" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="mercantilist" WIDTH="130" HPOS="94" VPOS="158" ID="st8-27"/><SP/><String HEIGHT="28" CONTENT="policies" WIDTH="83" HPOS="230" VPOS="158" ID="st8-28"/><SP/><String HEIGHT="28" CONTENT="–" WIDTH="13" HPOS="319" VPOS="158" ID="st8-29"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="339" VPOS="158" ID="st8-30"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="386" VPOS="158" ID="st8-31"/><SP/><String HEIGHT="28" CONTENT="some" WIDTH="58" HPOS="416" VPOS="158" ID="st8-32"/><SP/><String HEIGHT="28" CONTENT="extent" WIDTH="68" HPOS="480" VPOS="158" ID="st8-33"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="28" HPOS="554" VPOS="158" ID="st8-34"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="588" VPOS="158" ID="st8-35"/><SP/><String HEIGHT="28" CONTENT="German" WIDTH="91" HPOS="629" VPOS="158" ID="st8-36"/><SP/><String HEIGHT="28" CONTENT="neo" WIDTH="34" HPOS="726" VPOS="158" ID="st8-37"/><String HEIGHT="28" CONTENT="-" WIDTH="12" HPOS="760" VPOS="158" ID="st8-38"/><String HEIGHT="28" CONTENT="mercantil" WIDTH="106" HPOS="772" VPOS="158" ID="st8-39" SUBS_TYPE="HypPart1" SUBS_CONTENT="mercantilist"/><HYP CONTENT="-" WIDTH="11" HPOS="878" VPOS="158" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="190" ID="tl8-3" WIDTH="267" HEIGHT="28"><String HEIGHT="28" CONTENT="ist" WIDTH="26" HPOS="94" VPOS="190" ID="st8-40" SUBS_TYPE="HypPart2" SUBS_CONTENT="mercantilist"/><SP/><String HEIGHT="28" CONTENT="policy" WIDTH="67" HPOS="129" VPOS="190" ID="st8-41"/><SP/><String HEIGHT="28" CONTENT="backed" WIDTH="77" HPOS="204" VPOS="190" ID="st8-42"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="27" HPOS="290" VPOS="190" ID="st8-43"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="326" VPOS="190" ID="st8-44"/></TextLine><TextLine HPOS="370" VPOS="196" ID="tl8-4" WIDTH="44" HEIGHT="14"><String HEIGHT="14" CONTENT="ecb" WIDTH="44" HPOS="370" VPOS="196" ID="st8-45"/></TextLine><TextLine HPOS="414" VPOS="190" ID="tl8-5" WIDTH="293" HEIGHT="28"><String HEIGHT="28" CONTENT="’" WIDTH="7" HPOS="414" VPOS="190" ID="st8-46"/><String HEIGHT="28" CONTENT="s" WIDTH="8" HPOS="421" VPOS="190" ID="st8-47"/><SP/><String HEIGHT="28" CONTENT="anti" WIDTH="41" HPOS="438" VPOS="190" ID="st8-48"/><String HEIGHT="28" CONTENT="-" WIDTH="10" HPOS="479" VPOS="190" ID="st8-49"/><String HEIGHT="28" CONTENT="inflation" WIDTH="94" HPOS="489" VPOS="190" ID="st8-50"/><SP/><String HEIGHT="28" CONTENT="bias" WIDTH="43" HPOS="592" VPOS="190" ID="st8-51"/><SP/><String HEIGHT="28" CONTENT="–" WIDTH="13" HPOS="644" VPOS="190" ID="st8-52"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="666" VPOS="190" ID="st8-53"/></TextLine><TextLine HPOS="716" VPOS="196" ID="tl8-6" WIDTH="50" HEIGHT="14"><String HEIGHT="14" CONTENT="wto" WIDTH="50" HPOS="716" VPOS="196" ID="st8-54"/></TextLine><TextLine HPOS="766" VPOS="190" ID="tl8-7" WIDTH="123" HEIGHT="28"><String HEIGHT="28" CONTENT="-" WIDTH="12" HPOS="766" VPOS="190" ID="st8-55"/><String HEIGHT="28" CONTENT="sponsored" WIDTH="111" HPOS="778" VPOS="190" ID="st8-56"/></TextLine><TextLine HPOS="94" VPOS="222" ID="tl8-8" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="free" WIDTH="41" HPOS="94" VPOS="222" ID="st8-57"/><SP/><String HEIGHT="28" CONTENT="trade" WIDTH="53" HPOS="140" VPOS="222" ID="st8-58"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="193" VPOS="222" ID="st8-59"/><SP/><String HEIGHT="28" CONTENT="This" WIDTH="49" HPOS="208" VPOS="222" ID="st8-60"/><SP/><String HEIGHT="28" CONTENT="has" WIDTH="36" HPOS="262" VPOS="222" ID="st8-61"/><SP/><String HEIGHT="28" CONTENT="significantly" WIDTH="134" HPOS="303" VPOS="222" ID="st8-62"/><SP/><String HEIGHT="28" CONTENT="weakened" WIDTH="109" HPOS="442" VPOS="222" ID="st8-63"/><SP/><String HEIGHT="28" CONTENT="household" WIDTH="116" HPOS="556" VPOS="222" ID="st8-64"/><SP/><String HEIGHT="28" CONTENT="solvency" WIDTH="87" HPOS="677" VPOS="222" ID="st8-65"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="764" VPOS="222" ID="st8-66"/><SP/><String HEIGHT="28" CONTENT="Even" WIDTH="56" HPOS="780" VPOS="222" ID="st8-67"/><SP/><String HEIGHT="28" CONTENT="Paul" WIDTH="47" HPOS="842" VPOS="222" ID="st8-68"/></TextLine><TextLine HPOS="94" VPOS="254" ID="tl8-9" WIDTH="796" HEIGHT="28"><String HEIGHT="28" CONTENT="Krugman" WIDTH="98" HPOS="94" VPOS="254" ID="st8-69"/><String HEIGHT="28" CONTENT="," WIDTH="15" HPOS="192" VPOS="254" ID="st8-70"/><SP/><String HEIGHT="28" CONTENT="2008" WIDTH="55" HPOS="212" VPOS="254" ID="st8-71"/><SP/><String HEIGHT="28" CONTENT="Nobel" WIDTH="70" HPOS="272" VPOS="254" ID="st8-72"/><SP/><String HEIGHT="28" CONTENT="prize" WIDTH="54" HPOS="347" VPOS="254" ID="st8-73"/><SP/><String HEIGHT="28" CONTENT="winner" WIDTH="71" HPOS="407" VPOS="254" ID="st8-74"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="478" VPOS="254" ID="st8-75"/><SP/><String HEIGHT="28" CONTENT="going" WIDTH="64" HPOS="495" VPOS="254" ID="st8-76"/><SP/><String HEIGHT="28" CONTENT="back" WIDTH="51" HPOS="564" VPOS="254" ID="st8-77"/><SP/><String HEIGHT="28" CONTENT="on" WIDTH="29" HPOS="620" VPOS="254" ID="st8-78"/><SP/><String HEIGHT="28" CONTENT="his" WIDTH="32" HPOS="654" VPOS="254" ID="st8-79"/><SP/><String HEIGHT="28" CONTENT="previous" WIDTH="95" HPOS="691" VPOS="254" ID="st8-80"/><SP/><String HEIGHT="28" CONTENT="position" WIDTH="88" HPOS="791" VPOS="254" ID="st8-81"/><String HEIGHT="28" CONTENT="," WIDTH="11" HPOS="879" VPOS="254" ID="st8-82"/></TextLine><TextLine HPOS="94" VPOS="286" ID="tl8-10" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="has" WIDTH="36" HPOS="94" VPOS="286" ID="st8-83"/><SP/><String HEIGHT="28" CONTENT="acknowledged" WIDTH="159" HPOS="137" VPOS="286" ID="st8-84"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="303" VPOS="286" ID="st8-85"/><SP/><String HEIGHT="28" CONTENT="negative" WIDTH="92" HPOS="345" VPOS="286" ID="st8-86"/><SP/><String HEIGHT="28" CONTENT="impact" WIDTH="76" HPOS="444" VPOS="286" ID="st8-87"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="527" VPOS="286" ID="st8-88"/><SP/><String HEIGHT="28" CONTENT="free" WIDTH="41" HPOS="557" VPOS="286" ID="st8-89"/><SP/><String HEIGHT="28" CONTENT="trade" WIDTH="56" HPOS="605" VPOS="286" ID="st8-90"/><SP/><String HEIGHT="28" CONTENT="on" WIDTH="29" HPOS="669" VPOS="286" ID="st8-91"/><SP/><String HEIGHT="28" CONTENT="income" WIDTH="82" HPOS="705" VPOS="286" ID="st8-92"/><SP/><String HEIGHT="28" CONTENT="distribu" WIDTH="85" HPOS="794" VPOS="286" ID="st8-93" SUBS_TYPE="HypPart1" SUBS_CONTENT="distribution"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="286" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="318" ID="tl8-11" WIDTH="299" HEIGHT="28"><String HEIGHT="28" CONTENT="tion" WIDTH="45" HPOS="94" VPOS="318" ID="st8-94" SUBS_TYPE="HypPart2" SUBS_CONTENT="distribution"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="146" VPOS="318" ID="st8-95"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="175" VPOS="318" ID="st8-96"/><SP/><String HEIGHT="28" CONTENT="current" WIDTH="81" HPOS="216" VPOS="318" ID="st8-97"/><SP/><String HEIGHT="28" CONTENT="context" WIDTH="78" HPOS="303" VPOS="318" ID="st8-98"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="381" VPOS="318" ID="st8-99"/></TextLine><TextLine HPOS="393" VPOS="315" ID="tl8-12" WIDTH="19" HEIGHT="21"><String HEIGHT="21" CONTENT="20" WIDTH="19" HPOS="393" VPOS="315" ID="st8-100"/></TextLine><TextLine HPOS="129" VPOS="350" ID="tl8-13" WIDTH="760" HEIGHT="28"><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="129" VPOS="350" ID="st8-101"/><SP/><String HEIGHT="28" CONTENT="second" WIDTH="76" HPOS="181" VPOS="350" ID="st8-102"/><SP/><String HEIGHT="28" CONTENT="important" WIDTH="112" HPOS="265" VPOS="350" ID="st8-103"/><SP/><String HEIGHT="28" CONTENT="feature" WIDTH="76" HPOS="385" VPOS="350" ID="st8-104"/><SP/><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="469" VPOS="350" ID="st8-105"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="494" VPOS="350" ID="st8-106"/><SP/><String HEIGHT="28" CONTENT="deregulation" WIDTH="140" HPOS="537" VPOS="350" ID="st8-107"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="22" HPOS="685" VPOS="350" ID="st8-108"/><SP/><String HEIGHT="28" CONTENT="international" WIDTH="142" HPOS="715" VPOS="350" ID="st8-109"/><SP/><String HEIGHT="28" CONTENT="fi" WIDTH="16" HPOS="865" VPOS="350" ID="st8-110" SUBS_TYPE="HypPart1" SUBS_CONTENT="finance"/><HYP CONTENT="-" WIDTH="8" HPOS="881" VPOS="350" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="381" ID="tl8-14" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="nance" WIDTH="59" HPOS="94" VPOS="381" ID="st8-111" SUBS_TYPE="HypPart2" SUBS_CONTENT="finance"/><String HEIGHT="29" CONTENT="." WIDTH="12" HPOS="153" VPOS="381" ID="st8-112"/><SP/><String HEIGHT="29" CONTENT="This" WIDTH="49" HPOS="172" VPOS="381" ID="st8-113"/><SP/><String HEIGHT="29" CONTENT="has" WIDTH="36" HPOS="228" VPOS="381" ID="st8-114"/><SP/><String HEIGHT="29" CONTENT="accelerated" WIDTH="120" HPOS="272" VPOS="381" ID="st8-115"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="400" VPOS="381" ID="st8-116"/><SP/><String HEIGHT="29" CONTENT="development" WIDTH="144" HPOS="442" VPOS="381" ID="st8-117"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="594" VPOS="381" ID="st8-118"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="624" VPOS="381" ID="st8-119"/><SP/><String HEIGHT="29" CONTENT="credit" WIDTH="63" HPOS="667" VPOS="381" ID="st8-120"/><SP/><String HEIGHT="29" CONTENT="overhang" WIDTH="104" HPOS="737" VPOS="381" ID="st8-121"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="848" VPOS="381" ID="st8-122"/></TextLine><TextLine HPOS="94" VPOS="413" ID="tl8-15" WIDTH="356" HEIGHT="29"><String HEIGHT="29" CONTENT="at" WIDTH="20" HPOS="94" VPOS="413" ID="st8-123"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="121" VPOS="413" ID="st8-124"/><SP/><String HEIGHT="29" CONTENT="same" WIDTH="56" HPOS="162" VPOS="413" ID="st8-125"/><SP/><String HEIGHT="29" CONTENT="time" WIDTH="50" HPOS="224" VPOS="413" ID="st8-126"/><SP/><String HEIGHT="29" CONTENT="has" WIDTH="36" HPOS="281" VPOS="413" ID="st8-127"/><SP/><String HEIGHT="29" CONTENT="enabled" WIDTH="86" HPOS="323" VPOS="413" ID="st8-128"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="415" VPOS="413" ID="st8-129"/></TextLine><TextLine HPOS="457" VPOS="420" ID="tl8-16" WIDTH="29" HEIGHT="14"><String HEIGHT="14" CONTENT="us" WIDTH="29" HPOS="457" VPOS="420" ID="st8-130"/></TextLine><TextLine HPOS="493" VPOS="413" ID="tl8-17" WIDTH="396" HEIGHT="29"><String HEIGHT="29" CONTENT="economy" WIDTH="102" HPOS="493" VPOS="413" ID="st8-131"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="23" HPOS="601" VPOS="413" ID="st8-132"/><SP/><String HEIGHT="29" CONTENT="contaminate" WIDTH="137" HPOS="631" VPOS="413" ID="st8-133"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="775" VPOS="413" ID="st8-134"/><SP/><String HEIGHT="29" CONTENT="world" WIDTH="60" HPOS="816" VPOS="413" ID="st8-135"/><String HEIGHT="29" CONTENT="." WIDTH="13" HPOS="876" VPOS="413" ID="st8-136"/></TextLine><TextLine HPOS="94" VPOS="445" ID="tl8-18" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="However" WIDTH="96" HPOS="94" VPOS="445" ID="st8-137"/><String HEIGHT="29" CONTENT="," WIDTH="14" HPOS="190" VPOS="445" ID="st8-138"/><SP/><String HEIGHT="29" CONTENT="even" WIDTH="51" HPOS="210" VPOS="445" ID="st8-139"/><SP/><String HEIGHT="29" CONTENT="if" WIDTH="15" HPOS="268" VPOS="445" ID="st8-140"/><SP/><String HEIGHT="29" CONTENT="neo" WIDTH="32" HPOS="290" VPOS="445" ID="st8-141"/><String HEIGHT="29" CONTENT="-" WIDTH="11" HPOS="322" VPOS="445" ID="st8-142"/><String HEIGHT="29" CONTENT="liberal" WIDTH="76" HPOS="333" VPOS="445" ID="st8-143"/><SP/><String HEIGHT="29" CONTENT="ideology" WIDTH="97" HPOS="415" VPOS="445" ID="st8-144"/><SP/><String HEIGHT="29" CONTENT="has" WIDTH="36" HPOS="519" VPOS="445" ID="st8-145"/><SP/><String HEIGHT="29" CONTENT="played" WIDTH="72" HPOS="561" VPOS="445" ID="st8-146"/><SP/><String HEIGHT="29" CONTENT="an" WIDTH="26" HPOS="640" VPOS="445" ID="st8-147"/><SP/><String HEIGHT="29" CONTENT="important" WIDTH="112" HPOS="673" VPOS="445" ID="st8-148"/><SP/><String HEIGHT="29" CONTENT="role" WIDTH="43" HPOS="792" VPOS="445" ID="st8-149"/><SP/><String HEIGHT="29" CONTENT="here" WIDTH="47" HPOS="842" VPOS="445" ID="st8-150"/></TextLine><TextLine HPOS="94" VPOS="477" ID="tl8-19" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="it" WIDTH="16" HPOS="94" VPOS="477" ID="st8-151"/><SP/><String HEIGHT="29" CONTENT="must" WIDTH="56" HPOS="115" VPOS="477" ID="st8-152"/><SP/><String HEIGHT="29" CONTENT="be" WIDTH="26" HPOS="176" VPOS="477" ID="st8-153"/><SP/><String HEIGHT="29" CONTENT="understood" WIDTH="128" HPOS="207" VPOS="477" ID="st8-154"/><SP/><String HEIGHT="29" CONTENT="that" WIDTH="44" HPOS="340" VPOS="477" ID="st8-155"/><SP/><String HEIGHT="29" CONTENT="when" WIDTH="61" HPOS="389" VPOS="477" ID="st8-156"/><SP/><String HEIGHT="29" CONTENT="credit" WIDTH="63" HPOS="455" VPOS="477" ID="st8-157"/><SP/><String HEIGHT="29" CONTENT="seems" WIDTH="65" HPOS="523" VPOS="477" ID="st8-158"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="24" HPOS="593" VPOS="477" ID="st8-159"/><SP/><String HEIGHT="29" CONTENT="be" WIDTH="26" HPOS="622" VPOS="477" ID="st8-160"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="653" VPOS="477" ID="st8-161"/><SP/><String HEIGHT="29" CONTENT="only" WIDTH="49" HPOS="693" VPOS="477" ID="st8-162"/><SP/><String HEIGHT="29" CONTENT="way" WIDTH="44" HPOS="747" VPOS="477" ID="st8-163"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="24" HPOS="796" VPOS="477" ID="st8-164"/><SP/><String HEIGHT="29" CONTENT="main" WIDTH="52" HPOS="825" VPOS="477" ID="st8-165" SUBS_TYPE="HypPart1" SUBS_CONTENT="maintain"/><HYP CONTENT="-" WIDTH="12" HPOS="877" VPOS="477" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="509" ID="tl8-20" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="tain" WIDTH="42" HPOS="94" VPOS="509" ID="st8-166" SUBS_TYPE="HypPart2" SUBS_CONTENT="maintain"/><SP/><String HEIGHT="29" CONTENT="growth" WIDTH="76" HPOS="143" VPOS="509" ID="st8-167"/><String HEIGHT="29" CONTENT="," WIDTH="13" HPOS="219" VPOS="509" ID="st8-168"/><SP/><String HEIGHT="29" CONTENT="deregulating" WIDTH="140" HPOS="239" VPOS="509" ID="st8-169"/><SP/><String HEIGHT="29" CONTENT="finance" WIDTH="79" HPOS="386" VPOS="509" ID="st8-170"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="24" HPOS="472" VPOS="509" ID="st8-171"/><SP/><String HEIGHT="29" CONTENT="help" WIDTH="47" HPOS="503" VPOS="509" ID="st8-172"/><SP/><String HEIGHT="29" CONTENT="credit" WIDTH="64" HPOS="557" VPOS="509" ID="st8-173"/><SP/><String HEIGHT="29" CONTENT="expansion" WIDTH="111" HPOS="628" VPOS="509" ID="st8-174"/><SP/><String HEIGHT="29" CONTENT="is" WIDTH="17" HPOS="746" VPOS="509" ID="st8-175"/><SP/><String HEIGHT="29" CONTENT="almost" WIDTH="74" HPOS="770" VPOS="509" ID="st8-176"/><SP/><String HEIGHT="29" CONTENT="un" WIDTH="26" HPOS="851" VPOS="509" ID="st8-177" SUBS_TYPE="HypPart1" SUBS_CONTENT="unavoidable"/><HYP CONTENT="-" WIDTH="12" HPOS="877" VPOS="509" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="541" ID="tl8-21" WIDTH="704" HEIGHT="28"><String HEIGHT="28" CONTENT="avoidable" WIDTH="101" HPOS="94" VPOS="541" ID="st8-178" SUBS_TYPE="HypPart2" SUBS_CONTENT="unavoidable"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="195" VPOS="541" ID="st8-179"/><SP/><String HEIGHT="28" CONTENT="Indeed" WIDTH="72" HPOS="212" VPOS="541" ID="st8-180"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="284" VPOS="541" ID="st8-181"/><SP/><String HEIGHT="28" CONTENT="current" WIDTH="80" HPOS="302" VPOS="541" ID="st8-182"/><SP/><String HEIGHT="28" CONTENT="French" WIDTH="77" HPOS="387" VPOS="541" ID="st8-183"/><SP/><String HEIGHT="28" CONTENT="President" WIDTH="103" HPOS="469" VPOS="541" ID="st8-184"/><SP/><String HEIGHT="28" CONTENT="Sarkozy" WIDTH="88" HPOS="577" VPOS="541" ID="st8-185"/><SP/><String HEIGHT="28" CONTENT="advocated" WIDTH="111" HPOS="670" VPOS="541" ID="st8-186"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="786" VPOS="541" ID="st8-187"/></TextLine><TextLine HPOS="803" VPOS="547" ID="tl8-22" WIDTH="29" HEIGHT="15"><String HEIGHT="15" CONTENT="us" WIDTH="29" HPOS="803" VPOS="547" ID="st8-188"/></TextLine><TextLine HPOS="832" VPOS="541" ID="tl8-23" WIDTH="57" HEIGHT="28"><String HEIGHT="28" CONTENT="-" WIDTH="9" HPOS="832" VPOS="541" ID="st8-189"/><String HEIGHT="28" CONTENT="style" WIDTH="48" HPOS="841" VPOS="541" ID="st8-190"/></TextLine><TextLine HPOS="94" VPOS="573" ID="tl8-24" WIDTH="544" HEIGHT="28"><String HEIGHT="28" CONTENT="mortgage" WIDTH="107" HPOS="94" VPOS="573" ID="st8-191"/><SP/><String HEIGHT="28" CONTENT="system" WIDTH="75" HPOS="207" VPOS="573" ID="st8-192"/><SP/><String HEIGHT="28" CONTENT="for" WIDTH="32" HPOS="289" VPOS="573" ID="st8-193"/><SP/><String HEIGHT="28" CONTENT="France" WIDTH="74" HPOS="328" VPOS="573" ID="st8-194"/><SP/><String HEIGHT="28" CONTENT="before" WIDTH="70" HPOS="409" VPOS="573" ID="st8-195"/><SP/><String HEIGHT="28" CONTENT="being" WIDTH="62" HPOS="486" VPOS="573" ID="st8-196"/><SP/><String HEIGHT="28" CONTENT="elected" WIDTH="72" HPOS="555" VPOS="573" ID="st8-197"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="627" VPOS="573" ID="st8-198"/></TextLine><TextLine HPOS="638" VPOS="571" ID="tl8-25" WIDTH="16" HEIGHT="20"><String HEIGHT="20" CONTENT="21" WIDTH="16" HPOS="638" VPOS="571" ID="st8-199"/></TextLine><TextLine HPOS="129" VPOS="605" ID="tl8-26" WIDTH="760" HEIGHT="28"><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="129" VPOS="605" ID="st8-200"/><SP/><String HEIGHT="28" CONTENT="third" WIDTH="55" HPOS="178" VPOS="605" ID="st8-201"/><SP/><String HEIGHT="28" CONTENT="key" WIDTH="37" HPOS="238" VPOS="605" ID="st8-202"/><SP/><String HEIGHT="28" CONTENT="feature" WIDTH="76" HPOS="280" VPOS="605" ID="st8-203"/><SP/><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="361" VPOS="605" ID="st8-204"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="383" VPOS="605" ID="st8-205"/><SP/><String HEIGHT="28" CONTENT="structural" WIDTH="105" HPOS="423" VPOS="605" ID="st8-206"/><SP/><String HEIGHT="28" CONTENT="divergence" WIDTH="119" HPOS="533" VPOS="605" ID="st8-207"/><SP/><String HEIGHT="28" CONTENT="developing" WIDTH="122" HPOS="657" VPOS="605" ID="st8-208"/><SP/><String HEIGHT="28" CONTENT="inside" WIDTH="65" HPOS="784" VPOS="605" ID="st8-209"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="854" VPOS="605" ID="st8-210"/></TextLine><TextLine HPOS="94" VPOS="643" ID="tl8-27" WIDTH="32" HEIGHT="15"><String HEIGHT="15" CONTENT="eu" WIDTH="32" HPOS="94" VPOS="643" ID="st8-211"/></TextLine><TextLine HPOS="131" VPOS="637" ID="tl8-28" WIDTH="758" HEIGHT="28"><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="131" VPOS="637" ID="st8-212"/><SP/><String HEIGHT="28" CONTENT="even" WIDTH="51" HPOS="178" VPOS="637" ID="st8-213"/><SP/><String HEIGHT="28" CONTENT="inside" WIDTH="65" HPOS="235" VPOS="637" ID="st8-214"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="306" VPOS="637" ID="st8-215"/><SP/><String HEIGHT="28" CONTENT="Eurozone" WIDTH="104" HPOS="347" VPOS="637" ID="st8-216"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="451" VPOS="637" ID="st8-217"/><SP/><String HEIGHT="28" CONTENT="It" WIDTH="19" HPOS="470" VPOS="637" ID="st8-218"/><SP/><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="495" VPOS="637" ID="st8-219"/><SP/><String HEIGHT="28" CONTENT="raising" WIDTH="74" HPOS="517" VPOS="637" ID="st8-220"/><SP/><String HEIGHT="28" CONTENT="serious" WIDTH="78" HPOS="597" VPOS="637" ID="st8-221"/><SP/><String HEIGHT="28" CONTENT="concerns" WIDTH="97" HPOS="681" VPOS="637" ID="st8-222"/><SP/><String HEIGHT="28" CONTENT="about" WIDTH="64" HPOS="784" VPOS="637" ID="st8-223"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="854" VPOS="637" ID="st8-224"/></TextLine><TextLine HPOS="94" VPOS="669" ID="tl8-29" WIDTH="437" HEIGHT="28"><String HEIGHT="28" CONTENT="survival" WIDTH="85" HPOS="94" VPOS="669" ID="st8-225"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="185" VPOS="669" ID="st8-226"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="215" VPOS="669" ID="st8-227"/><SP/><String HEIGHT="28" CONTENT="euro" WIDTH="51" HPOS="256" VPOS="669" ID="st8-228"/><SP/><String HEIGHT="28" CONTENT="as" WIDTH="21" HPOS="314" VPOS="669" ID="st8-229"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="342" VPOS="669" ID="st8-230"/><SP/><String HEIGHT="28" CONTENT="single" WIDTH="64" HPOS="360" VPOS="669" ID="st8-231"/><SP/><String HEIGHT="28" CONTENT="currency" WIDTH="88" HPOS="431" VPOS="669" ID="st8-232"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="519" VPOS="669" ID="st8-233"/></TextLine><TextLine HPOS="94" VPOS="765" ID="tl8-30" WIDTH="413" HEIGHT="27"><String HEIGHT="27" CONTENT="Possible" WIDTH="106" HPOS="94" VPOS="765" ID="st8-234"/><SP/><String HEIGHT="27" CONTENT="Responses" WIDTH="135" HPOS="208" VPOS="765" ID="st8-235"/><SP/><String HEIGHT="27" CONTENT="to" WIDTH="28" HPOS="351" VPOS="765" ID="st8-236"/><SP/><String HEIGHT="27" CONTENT="the" WIDTH="43" HPOS="387" VPOS="765" ID="st8-237"/><SP/><String HEIGHT="27" CONTENT="Crisis" WIDTH="70" HPOS="437" VPOS="765" ID="st8-238"/></TextLine><TextLine HPOS="94" VPOS="829" ID="tl8-31" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="94" VPOS="829" ID="st8-239"/><SP/><String HEIGHT="28" CONTENT="current" WIDTH="81" HPOS="147" VPOS="829" ID="st8-240"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="55" HPOS="238" VPOS="829" ID="st8-241"/><SP/><String HEIGHT="28" CONTENT="will" WIDTH="41" HPOS="303" VPOS="829" ID="st8-242"/><SP/><String HEIGHT="28" CONTENT="undoubtedly" WIDTH="144" HPOS="353" VPOS="829" ID="st8-243"/><SP/><String HEIGHT="28" CONTENT="have" WIDTH="51" HPOS="507" VPOS="829" ID="st8-244"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="567" VPOS="829" ID="st8-245"/><SP/><String HEIGHT="28" CONTENT="deep" WIDTH="53" HPOS="588" VPOS="829" ID="st8-246"/><SP/><String HEIGHT="28" CONTENT="impact" WIDTH="77" HPOS="650" VPOS="829" ID="st8-247"/><SP/><String HEIGHT="28" CONTENT="on" WIDTH="30" HPOS="736" VPOS="829" ID="st8-248"/><SP/><String HEIGHT="28" CONTENT="developed" WIDTH="114" HPOS="775" VPOS="829" ID="st8-249"/></TextLine><TextLine HPOS="94" VPOS="861" ID="tl8-32" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="economies" WIDTH="111" HPOS="94" VPOS="861" ID="st8-250"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="205" VPOS="861" ID="st8-251"/><SP/><String HEIGHT="28" CONTENT="A" WIDTH="18" HPOS="223" VPOS="861" ID="st8-252"/><SP/><String HEIGHT="28" CONTENT="recession" WIDTH="100" HPOS="246" VPOS="861" ID="st8-253"/><SP/><String HEIGHT="28" CONTENT="had" WIDTH="41" HPOS="351" VPOS="861" ID="st8-254"/><SP/><String HEIGHT="28" CONTENT="already" WIDTH="78" HPOS="397" VPOS="861" ID="st8-255"/><SP/><String HEIGHT="28" CONTENT="begun" WIDTH="70" HPOS="480" VPOS="861" ID="st8-256"/><SP/><String HEIGHT="28" CONTENT="before" WIDTH="70" HPOS="555" VPOS="861" ID="st8-257"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="630" VPOS="861" ID="st8-258"/><SP/><String HEIGHT="28" CONTENT="September" WIDTH="115" HPOS="670" VPOS="861" ID="st8-259"/><String HEIGHT="28" CONTENT="-" WIDTH="13" HPOS="785" VPOS="861" ID="st8-260"/><String HEIGHT="28" CONTENT="October" WIDTH="91" HPOS="798" VPOS="861" ID="st8-261"/></TextLine><TextLine HPOS="94" VPOS="893" ID="tl8-33" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="2008" WIDTH="55" HPOS="94" VPOS="893" ID="st8-262"/><SP/><String HEIGHT="28" CONTENT="liquidity" WIDTH="93" HPOS="156" VPOS="893" ID="st8-263"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="55" HPOS="255" VPOS="893" ID="st8-264"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="317" VPOS="893" ID="st8-265"/><SP/><String HEIGHT="28" CONTENT="stock" WIDTH="59" HPOS="364" VPOS="893" ID="st8-266"/><String HEIGHT="28" CONTENT="-" WIDTH="12" HPOS="423" VPOS="893" ID="st8-267"/><String HEIGHT="28" CONTENT="market" WIDTH="71" HPOS="435" VPOS="893" ID="st8-268"/><SP/><String HEIGHT="28" CONTENT="crash" WIDTH="53" HPOS="513" VPOS="893" ID="st8-269"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="566" VPOS="893" ID="st8-270"/><SP/><String HEIGHT="28" CONTENT="It" WIDTH="19" HPOS="583" VPOS="893" ID="st8-271"/><SP/><String HEIGHT="28" CONTENT="will" WIDTH="41" HPOS="609" VPOS="893" ID="st8-272"/><SP/><String HEIGHT="28" CONTENT="worsen" WIDTH="81" HPOS="656" VPOS="893" ID="st8-273"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="743" VPOS="893" ID="st8-274"/><SP/><String HEIGHT="28" CONTENT="spread" WIDTH="72" HPOS="790" VPOS="893" ID="st8-275"/><SP/><String HEIGHT="28" CONTENT="at" WIDTH="20" HPOS="869" VPOS="893" ID="st8-276"/></TextLine><TextLine HPOS="94" VPOS="925" ID="tl8-34" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="94" VPOS="925" ID="st8-277"/><SP/><String HEIGHT="28" CONTENT="very" WIDTH="47" HPOS="134" VPOS="925" ID="st8-278"/><SP/><String HEIGHT="28" CONTENT="least" WIDTH="48" HPOS="186" VPOS="925" ID="st8-279"/><SP/><String HEIGHT="28" CONTENT="until" WIDTH="52" HPOS="240" VPOS="925" ID="st8-280"/><SP/><String HEIGHT="28" CONTENT="summer" WIDTH="91" HPOS="297" VPOS="925" ID="st8-281"/><SP/><String HEIGHT="28" CONTENT="2009" WIDTH="56" HPOS="393" VPOS="925" ID="st8-282"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="455" VPOS="925" ID="st8-283"/><SP/><String HEIGHT="28" CONTENT="probably" WIDTH="99" HPOS="501" VPOS="925" ID="st8-284"/><SP/><String HEIGHT="28" CONTENT="until" WIDTH="52" HPOS="605" VPOS="925" ID="st8-285"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="663" VPOS="925" ID="st8-286"/><SP/><String HEIGHT="28" CONTENT="end" WIDTH="41" HPOS="703" VPOS="925" ID="st8-287"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="749" VPOS="925" ID="st8-288"/><SP/><String HEIGHT="28" CONTENT="2009" WIDTH="51" HPOS="777" VPOS="925" ID="st8-289"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="828" VPOS="925" ID="st8-290"/><SP/><String HEIGHT="28" CONTENT="The" WIDTH="43" HPOS="846" VPOS="925" ID="st8-291"/></TextLine><TextLine HPOS="94" VPOS="956" ID="tl8-35" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="decline" WIDTH="78" HPOS="94" VPOS="956" ID="st8-292"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="177" VPOS="956" ID="st8-293"/><SP/><String HEIGHT="29" CONTENT="real" WIDTH="41" HPOS="205" VPOS="956" ID="st8-294"/><String HEIGHT="29" CONTENT="-" WIDTH="10" HPOS="246" VPOS="956" ID="st8-295"/><String HEIGHT="29" CONTENT="sector" WIDTH="63" HPOS="256" VPOS="956" ID="st8-296"/><SP/><String HEIGHT="29" CONTENT="activity" WIDTH="79" HPOS="324" VPOS="956" ID="st8-297"/><SP/><String HEIGHT="29" CONTENT="will" WIDTH="41" HPOS="408" VPOS="956" ID="st8-298"/><SP/><String HEIGHT="29" CONTENT="feed" WIDTH="46" HPOS="454" VPOS="956" ID="st8-299"/><SP/><String HEIGHT="29" CONTENT="back" WIDTH="50" HPOS="505" VPOS="956" ID="st8-300"/><SP/><String HEIGHT="29" CONTENT="into" WIDTH="46" HPOS="560" VPOS="956" ID="st8-301"/><SP/><String HEIGHT="29" CONTENT="financial" WIDTH="93" HPOS="611" VPOS="956" ID="st8-302"/><SP/><String HEIGHT="29" CONTENT="activity" WIDTH="74" HPOS="709" VPOS="956" ID="st8-303"/><String HEIGHT="29" CONTENT="." WIDTH="10" HPOS="783" VPOS="956" ID="st8-304"/><SP/><String HEIGHT="29" CONTENT="The" WIDTH="44" HPOS="797" VPOS="956" ID="st8-305"/><SP/><String HEIGHT="29" CONTENT="cur" WIDTH="33" HPOS="846" VPOS="956" ID="st8-306" SUBS_TYPE="HypPart1" SUBS_CONTENT="current"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="956" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="988" ID="tl8-36" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="rent" WIDTH="45" HPOS="94" VPOS="988" ID="st8-307" SUBS_TYPE="HypPart2" SUBS_CONTENT="current"/><SP/><String HEIGHT="29" CONTENT="crisis" WIDTH="54" HPOS="144" VPOS="988" ID="st8-308"/><SP/><String HEIGHT="29" CONTENT="is" WIDTH="17" HPOS="203" VPOS="988" ID="st8-309"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="225" VPOS="988" ID="st8-310"/><SP/><String HEIGHT="29" CONTENT="worst" WIDTH="63" HPOS="265" VPOS="988" ID="st8-311"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="34" HPOS="333" VPOS="988" ID="st8-312"/><SP/><String HEIGHT="29" CONTENT="developed" WIDTH="113" HPOS="372" VPOS="988" ID="st8-313"/><SP/><String HEIGHT="29" CONTENT="economies" WIDTH="117" HPOS="490" VPOS="988" ID="st8-314"/><SP/><String HEIGHT="29" CONTENT="have" WIDTH="50" HPOS="612" VPOS="988" ID="st8-315"/><SP/><String HEIGHT="29" CONTENT="known" WIDTH="76" HPOS="668" VPOS="988" ID="st8-316"/><SP/><String HEIGHT="29" CONTENT="since" WIDTH="55" HPOS="749" VPOS="988" ID="st8-317"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="34" HPOS="809" VPOS="988" ID="st8-318"/><SP/><String HEIGHT="29" CONTENT="end" WIDTH="41" HPOS="848" VPOS="988" ID="st8-319"/></TextLine><TextLine HPOS="94" VPOS="1020" ID="tl8-37" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="94" VPOS="1020" ID="st8-320"/><SP/><String HEIGHT="29" CONTENT="World" WIDTH="71" HPOS="126" VPOS="1020" ID="st8-321"/><SP/><String HEIGHT="29" CONTENT="War" WIDTH="46" HPOS="206" VPOS="1020" ID="st8-322"/><SP/><String HEIGHT="29" CONTENT="II" WIDTH="21" HPOS="261" VPOS="1020" ID="st8-323"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="292" VPOS="1020" ID="st8-324"/><SP/><String HEIGHT="29" CONTENT="will" WIDTH="41" HPOS="343" VPOS="1020" ID="st8-325"/><SP/><String HEIGHT="29" CONTENT="force" WIDTH="56" HPOS="393" VPOS="1020" ID="st8-326"/><SP/><String HEIGHT="29" CONTENT="governments" WIDTH="146" HPOS="459" VPOS="1020" ID="st8-327"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="24" HPOS="614" VPOS="1020" ID="st8-328"/><SP/><String HEIGHT="29" CONTENT="adapt" WIDTH="62" HPOS="647" VPOS="1020" ID="st8-329"/><SP/><String HEIGHT="29" CONTENT="their" WIDTH="53" HPOS="718" VPOS="1020" ID="st8-330"/><SP/><String HEIGHT="29" CONTENT="economic" WIDTH="109" HPOS="780" VPOS="1020" ID="st8-331"/></TextLine><TextLine HPOS="94" VPOS="1052" ID="tl8-38" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="policies" WIDTH="82" HPOS="94" VPOS="1052" ID="st8-332"/><SP/><String HEIGHT="29" CONTENT="significantly" WIDTH="128" HPOS="181" VPOS="1052" ID="st8-333"/><String HEIGHT="29" CONTENT="," WIDTH="10" HPOS="309" VPOS="1052" ID="st8-334"/><SP/><String HEIGHT="29" CONTENT="thereby" WIDTH="82" HPOS="324" VPOS="1052" ID="st8-335"/><SP/><String HEIGHT="29" CONTENT="reshaping" WIDTH="107" HPOS="411" VPOS="1052" ID="st8-336"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="34" HPOS="523" VPOS="1052" ID="st8-337"/><SP/><String HEIGHT="29" CONTENT="global" WIDTH="68" HPOS="562" VPOS="1052" ID="st8-338"/><SP/><String HEIGHT="29" CONTENT="economy" WIDTH="92" HPOS="635" VPOS="1052" ID="st8-339"/><String HEIGHT="29" CONTENT="," WIDTH="14" HPOS="727" VPOS="1052" ID="st8-340"/><SP/><String HEIGHT="29" CONTENT="with" WIDTH="50" HPOS="746" VPOS="1052" ID="st8-341"/><SP/><String HEIGHT="29" CONTENT="or" WIDTH="25" HPOS="801" VPOS="1052" ID="st8-342"/><SP/><String HEIGHT="29" CONTENT="with" WIDTH="47" HPOS="831" VPOS="1052" ID="st8-343" SUBS_TYPE="HypPart1" SUBS_CONTENT="without"/><HYP CONTENT="-" WIDTH="11" HPOS="878" VPOS="1052" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="1084" ID="tl8-39" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="out" WIDTH="38" HPOS="94" VPOS="1084" ID="st8-344" SUBS_TYPE="HypPart2" SUBS_CONTENT="without"/><SP/><String HEIGHT="29" CONTENT="any" WIDTH="38" HPOS="139" VPOS="1084" ID="st8-345"/><SP/><String HEIGHT="29" CONTENT="cooperative" WIDTH="128" HPOS="184" VPOS="1084" ID="st8-346"/><SP/><String HEIGHT="29" CONTENT="attempt" WIDTH="87" HPOS="318" VPOS="1084" ID="st8-347"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="24" HPOS="411" VPOS="1084" ID="st8-348"/><SP/><String HEIGHT="29" CONTENT="build" WIDTH="58" HPOS="441" VPOS="1084" ID="st8-349"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="12" HPOS="505" VPOS="1084" ID="st8-350"/><SP/><String HEIGHT="29" CONTENT="better" WIDTH="66" HPOS="523" VPOS="1084" ID="st8-351"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="595" VPOS="1084" ID="st8-352"/><SP/><String HEIGHT="29" CONTENT="more" WIDTH="59" HPOS="642" VPOS="1084" ID="st8-353"/><SP/><String HEIGHT="29" CONTENT="efficient" WIDTH="89" HPOS="707" VPOS="1084" ID="st8-354"/><SP/><String HEIGHT="29" CONTENT="interna" WIDTH="77" HPOS="802" VPOS="1084" ID="st8-355" SUBS_TYPE="HypPart1" SUBS_CONTENT="international"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="1084" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="1116" ID="tl8-40" WIDTH="248" HEIGHT="28"><String HEIGHT="28" CONTENT="tional" WIDTH="64" HPOS="94" VPOS="1116" ID="st8-356" SUBS_TYPE="HypPart2" SUBS_CONTENT="international"/><SP/><String HEIGHT="28" CONTENT="monetary" WIDTH="106" HPOS="164" VPOS="1116" ID="st8-357"/><SP/><String HEIGHT="28" CONTENT="order" WIDTH="54" HPOS="277" VPOS="1116" ID="st8-358"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="331" VPOS="1116" ID="st8-359"/></TextLine><TextLine HPOS="94" VPOS="1200" ID="tl8-41" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="20" WIDTH="19" HPOS="94" VPOS="1200" ID="st8-360"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="113" VPOS="1200" ID="st8-361"/><SP/><String HEIGHT="24" CONTENT="Krugman" WIDTH="84" HPOS="129" VPOS="1200" ID="st8-362"/><String HEIGHT="24" CONTENT="," WIDTH="13" HPOS="213" VPOS="1200" ID="st8-363"/><SP/><String HEIGHT="24" CONTENT="P" WIDTH="8" HPOS="235" VPOS="1200" ID="st8-364"/><String HEIGHT="24" CONTENT="." WIDTH="8" HPOS="243" VPOS="1200" ID="st8-365"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="259" VPOS="1200" ID="st8-366"/><String HEIGHT="24" CONTENT="2007" WIDTH="41" HPOS="269" VPOS="1200" ID="st8-367"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="310" VPOS="1200" ID="st8-368"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="320" VPOS="1200" ID="st8-369"/><String HEIGHT="24" CONTENT="»" WIDTH="10" HPOS="340" VPOS="1200" ID="st8-370"/><String HEIGHT="24" CONTENT="Trade" WIDTH="52" HPOS="350" VPOS="1200" ID="st8-371"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="35" HPOS="410" VPOS="1200" ID="st8-372"/><SP/><String HEIGHT="24" CONTENT="Inequality" WIDTH="91" HPOS="454" VPOS="1200" ID="st8-373"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="545" VPOS="1200" ID="st8-374"/><SP/><String HEIGHT="24" CONTENT="Revisited" WIDTH="89" HPOS="564" VPOS="1200" ID="st8-375"/><String HEIGHT="24" CONTENT="«" WIDTH="10" HPOS="653" VPOS="1200" ID="st8-376"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="671" VPOS="1200" ID="st8-377"/><String HEIGHT="24" CONTENT="June" WIDTH="43" HPOS="681" VPOS="1200" ID="st8-378"/><SP/><String HEIGHT="24" CONTENT="15" WIDTH="15" HPOS="732" VPOS="1200" ID="st8-379"/><String HEIGHT="24" CONTENT=")" WIDTH="8" HPOS="747" VPOS="1200" ID="st8-380"/><String HEIGHT="24" CONTENT="," WIDTH="8" HPOS="755" VPOS="1200" ID="st8-381"/><SP/><String HEIGHT="24" CONTENT="http" WIDTH="42" HPOS="771" VPOS="1200" ID="st8-382"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="813" VPOS="1200" ID="st8-383"/><String HEIGHT="24" CONTENT="//www" WIDTH="54" HPOS="824" VPOS="1200" ID="st8-384"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="878" VPOS="1200" ID="st8-385"/></TextLine><TextLine HPOS="129" VPOS="1228" ID="tl8-42" WIDTH="327" HEIGHT="24"><String HEIGHT="24" CONTENT="voxeu" WIDTH="53" HPOS="129" VPOS="1228" ID="st8-386"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="182" VPOS="1228" ID="st8-387"/><String HEIGHT="24" CONTENT="org" WIDTH="32" HPOS="193" VPOS="1228" ID="st8-388"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="225" VPOS="1228" ID="st8-389"/><String HEIGHT="24" CONTENT="index" WIDTH="53" HPOS="236" VPOS="1228" ID="st8-390"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="289" VPOS="1228" ID="st8-391"/><String HEIGHT="24" CONTENT="php" WIDTH="32" HPOS="300" VPOS="1228" ID="st8-392"/><String HEIGHT="24" CONTENT="?" WIDTH="11" HPOS="332" VPOS="1228" ID="st8-393"/><String HEIGHT="24" CONTENT="q" WIDTH="11" HPOS="343" VPOS="1228" ID="st8-394"/><String HEIGHT="24" CONTENT="=" WIDTH="11" HPOS="354" VPOS="1228" ID="st8-395"/><String HEIGHT="24" CONTENT="node" WIDTH="43" HPOS="365" VPOS="1228" ID="st8-396"/><String HEIGHT="24" CONTENT="/" WIDTH="8" HPOS="410" VPOS="1228" ID="st8-397"/><SP/><String HEIGHT="24" CONTENT="261" WIDTH="27" HPOS="419" VPOS="1228" ID="st8-398"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="446" VPOS="1228" ID="st8-399"/></TextLine><TextLine HPOS="94" VPOS="1256" ID="tl8-43" WIDTH="453" HEIGHT="24"><String HEIGHT="24" CONTENT="21" WIDTH="16" HPOS="94" VPOS="1256" ID="st8-400"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="110" VPOS="1256" ID="st8-401"/><SP/><String HEIGHT="24" CONTENT="See" WIDTH="33" HPOS="129" VPOS="1256" ID="st8-402"/><SP/><String HEIGHT="24" CONTENT="his" WIDTH="27" HPOS="172" VPOS="1256" ID="st8-403"/><SP/><String HEIGHT="24" CONTENT="statement" WIDTH="92" HPOS="210" VPOS="1256" ID="st8-404"/><SP/><String HEIGHT="24" CONTENT="on" WIDTH="25" HPOS="313" VPOS="1256" ID="st8-405"/><SP/><String HEIGHT="24" CONTENT="March" WIDTH="62" HPOS="348" VPOS="1256" ID="st8-406"/><SP/><String HEIGHT="24" CONTENT="17" WIDTH="15" HPOS="421" VPOS="1256" ID="st8-407"/><String HEIGHT="24" CONTENT="," WIDTH="8" HPOS="436" VPOS="1256" ID="st8-408"/><SP/><String HEIGHT="24" CONTENT="2005" WIDTH="44" HPOS="455" VPOS="1256" ID="st8-409"/><SP/><String HEIGHT="24" CONTENT="at" WIDTH="17" HPOS="510" VPOS="1256" ID="st8-410"/><SP/><String HEIGHT="24" CONTENT="a" WIDTH="10" HPOS="537" VPOS="1256" ID="st8-411"/></TextLine><TextLine HPOS="558" VPOS="1261" ID="tl8-44" WIDTH="44" HEIGHT="12"><String HEIGHT="12" CONTENT="ump" WIDTH="44" HPOS="558" VPOS="1261" ID="st8-412"/></TextLine><TextLine HPOS="612" VPOS="1256" ID="tl8-45" WIDTH="277" HEIGHT="24"><String HEIGHT="24" CONTENT="meeting" WIDTH="73" HPOS="612" VPOS="1256" ID="st8-413"/><String HEIGHT="24" CONTENT="," WIDTH="11" HPOS="685" VPOS="1256" ID="st8-414"/><SP/><String HEIGHT="24" CONTENT="http" WIDTH="43" HPOS="706" VPOS="1256" ID="st8-415"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="749" VPOS="1256" ID="st8-416"/><String HEIGHT="24" CONTENT="//www" WIDTH="54" HPOS="759" VPOS="1256" ID="st8-417"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="813" VPOS="1256" ID="st8-418"/><String HEIGHT="24" CONTENT="u" WIDTH="11" HPOS="824" VPOS="1256" ID="st8-419"/><String HEIGHT="24" CONTENT="-" WIDTH="10" HPOS="835" VPOS="1256" ID="st8-420"/><String HEIGHT="24" CONTENT="m" WIDTH="11" HPOS="845" VPOS="1256" ID="st8-421"/><String HEIGHT="24" CONTENT="-" WIDTH="11" HPOS="856" VPOS="1256" ID="st8-422"/><String HEIGHT="24" CONTENT="p" WIDTH="11" HPOS="867" VPOS="1256" ID="st8-423"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="878" VPOS="1256" ID="st8-424"/></TextLine><TextLine HPOS="129" VPOS="1284" ID="tl8-46" WIDTH="760" HEIGHT="23"><String HEIGHT="23" CONTENT="org" WIDTH="33" HPOS="129" VPOS="1284" ID="st8-425"/><String HEIGHT="23" CONTENT="/" WIDTH="8" HPOS="163" VPOS="1284" ID="st8-426"/><SP/><String HEIGHT="23" CONTENT="site" WIDTH="31" HPOS="173" VPOS="1284" ID="st8-427"/><String HEIGHT="23" CONTENT="/" WIDTH="7" HPOS="206" VPOS="1284" ID="st8-428"/><SP/><String HEIGHT="23" CONTENT="index" WIDTH="52" HPOS="215" VPOS="1284" ID="st8-429"/><String HEIGHT="23" CONTENT="." WIDTH="10" HPOS="267" VPOS="1284" ID="st8-430"/><String HEIGHT="23" CONTENT="php" WIDTH="32" HPOS="277" VPOS="1284" ID="st8-431"/><String HEIGHT="23" CONTENT="/" WIDTH="7" HPOS="311" VPOS="1284" ID="st8-432"/><SP/><String HEIGHT="23" CONTENT="ump" WIDTH="43" HPOS="320" VPOS="1284" ID="st8-433"/><String HEIGHT="23" CONTENT="/" WIDTH="7" HPOS="365" VPOS="1284" ID="st8-434"/><SP/><String HEIGHT="23" CONTENT="s" WIDTH="10" HPOS="374" VPOS="1284" ID="st8-435"/><String HEIGHT="23" CONTENT="_" WIDTH="10" HPOS="384" VPOS="1284" ID="st8-436"/><String HEIGHT="23" CONTENT="informer" WIDTH="82" HPOS="394" VPOS="1284" ID="st8-437"/><String HEIGHT="23" CONTENT="/" WIDTH="7" HPOS="478" VPOS="1284" ID="st8-438"/><SP/><String HEIGHT="23" CONTENT="discours" WIDTH="77" HPOS="487" VPOS="1284" ID="st8-439"/><String HEIGHT="23" CONTENT="/" WIDTH="7" HPOS="566" VPOS="1284" ID="st8-440"/><SP/><String HEIGHT="23" CONTENT="intervention" WIDTH="117" HPOS="575" VPOS="1284" ID="st8-441"/><String HEIGHT="23" CONTENT="_" WIDTH="10" HPOS="692" VPOS="1284" ID="st8-442"/><String HEIGHT="23" CONTENT="de" WIDTH="20" HPOS="702" VPOS="1284" ID="st8-443"/><String HEIGHT="23" CONTENT="_" WIDTH="10" HPOS="722" VPOS="1284" ID="st8-444"/><String HEIGHT="23" CONTENT="nicolas" WIDTH="68" HPOS="732" VPOS="1284" ID="st8-445"/><String HEIGHT="23" CONTENT="_" WIDTH="10" HPOS="800" VPOS="1284" ID="st8-446"/><String HEIGHT="23" CONTENT="sarkozy" WIDTH="69" HPOS="810" VPOS="1284" ID="st8-447"/><String HEIGHT="23" CONTENT="_" WIDTH="10" HPOS="879" VPOS="1284" ID="st8-448"/></TextLine><TextLine HPOS="129" VPOS="1311" ID="tl8-47" WIDTH="197" HEIGHT="24"><String HEIGHT="24" CONTENT="president" WIDTH="93" HPOS="129" VPOS="1311" ID="st8-449"/><String HEIGHT="24" CONTENT="_" WIDTH="10" HPOS="222" VPOS="1311" ID="st8-450"/><String HEIGHT="24" CONTENT="de" WIDTH="21" HPOS="232" VPOS="1311" ID="st8-451"/><String HEIGHT="24" CONTENT="_" WIDTH="10" HPOS="253" VPOS="1311" ID="st8-452"/><String HEIGHT="24" CONTENT="l" WIDTH="11" HPOS="263" VPOS="1311" ID="st8-453"/><String HEIGHT="24" CONTENT="_" WIDTH="10" HPOS="274" VPOS="1311" ID="st8-454"/><String HEIGHT="24" CONTENT="ump" WIDTH="31" HPOS="284" VPOS="1311" ID="st8-455"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="315" VPOS="1311" ID="st8-456"/></TextLine><TextLine HPOS="94" VPOS="1388" ID="tl8-48" WIDTH="26" HEIGHT="29"><String HEIGHT="29" CONTENT="34" WIDTH="26" HPOS="94" VPOS="1388" ID="st8-457"/></TextLine><TextLine HPOS="140" VPOS="1395" ID="tl8-49" WIDTH="152" HEIGHT="18"><String HEIGHT="18" CONTENT="Sapir" WIDTH="33" HPOS="140" VPOS="1395" ID="st8-458"/><String HEIGHT="18" CONTENT="," WIDTH="7" HPOS="173" VPOS="1395" ID="st8-459"/><SP/><String HEIGHT="18" CONTENT="Financial" WIDTH="65" HPOS="184" VPOS="1395" ID="st8-460"/><SP/><String HEIGHT="18" CONTENT="Crisis" WIDTH="39" HPOS="253" VPOS="1395" ID="st8-461"/></TextLine><TextLine HPOS="799" VPOS="1398" ID="tl8-50" WIDTH="29" HEIGHT="11"><String HEIGHT="11" CONTENT="ipg" WIDTH="29" HPOS="799" VPOS="1398" ID="st8-462"/></TextLine><TextLine HPOS="833" VPOS="1394" ID="tl8-51" WIDTH="56" HEIGHT="21"><String HEIGHT="21" CONTENT="1/2009" WIDTH="56" HPOS="833" VPOS="1394" ID="st8-463"/></TextLine></TextBlock></PrintSpace></Page><Page WIDTH="984" PHYSICAL_IMG_NR="9" ID="p658177" HEIGHT="1472"><PrintSpace WIDTH="984" HPOS="0" VPOS="0" ID="ps658177" HEIGHT="1472"><TextBlock WIDTH="984" HPOS="0" VPOS="0" ID="tb658177" HEIGHT="1472"><TextLine HPOS="94" VPOS="94" ID="tl9-0" WIDTH="411" HEIGHT="27"><String HEIGHT="27" CONTENT="The" WIDTH="46" HPOS="94" VPOS="94" ID="st9-0"/><SP/><String HEIGHT="27" CONTENT="Crisis" WIDTH="69" HPOS="148" VPOS="94" ID="st9-1"/><SP/><String HEIGHT="27" CONTENT="and" WIDTH="48" HPOS="225" VPOS="94" ID="st9-2"/><SP/><String HEIGHT="27" CONTENT="Its" WIDTH="32" HPOS="281" VPOS="94" ID="st9-3"/><SP/><String HEIGHT="27" CONTENT="Consequences" WIDTH="184" HPOS="321" VPOS="94" ID="st9-4"/></TextLine><TextLine HPOS="94" VPOS="158" ID="tl9-1" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="The" WIDTH="43" HPOS="94" VPOS="158" ID="st9-5"/><SP/><String HEIGHT="28" CONTENT="financial" WIDTH="92" HPOS="142" VPOS="158" ID="st9-6"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="55" HPOS="239" VPOS="158" ID="st9-7"/><SP/><String HEIGHT="28" CONTENT="will" WIDTH="40" HPOS="299" VPOS="158" ID="st9-8"/><SP/><String HEIGHT="28" CONTENT="affect" WIDTH="59" HPOS="344" VPOS="158" ID="st9-9"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="408" VPOS="158" ID="st9-10"/><SP/><String HEIGHT="28" CONTENT="real" WIDTH="39" HPOS="448" VPOS="158" ID="st9-11"/><SP/><String HEIGHT="28" CONTENT="economy" WIDTH="101" HPOS="492" VPOS="158" ID="st9-12"/><SP/><String HEIGHT="28" CONTENT="through" WIDTH="90" HPOS="598" VPOS="158" ID="st9-13"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="693" VPOS="158" ID="st9-14"/><SP/><String HEIGHT="28" CONTENT="number" WIDTH="86" HPOS="710" VPOS="158" ID="st9-15"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="801" VPOS="158" ID="st9-16"/><SP/><String HEIGHT="28" CONTENT="chan" WIDTH="48" HPOS="829" VPOS="158" ID="st9-17" SUBS_TYPE="HypPart1" SUBS_CONTENT="channels"/><HYP CONTENT="-" WIDTH="12" HPOS="877" VPOS="158" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="190" ID="tl9-2" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="nels" WIDTH="40" HPOS="94" VPOS="190" ID="st9-18" SUBS_TYPE="HypPart2" SUBS_CONTENT="channels"/><String HEIGHT="28" CONTENT="." WIDTH="10" HPOS="134" VPOS="190" ID="st9-19"/><SP/><String HEIGHT="28" CONTENT="The" WIDTH="43" HPOS="152" VPOS="190" ID="st9-20"/><SP/><String HEIGHT="27" CONTENT="credit" WIDTH="58" HPOS="203" VPOS="191" ID="st9-21"/><SP/><String HEIGHT="27" CONTENT="crunch" WIDTH="69" HPOS="269" VPOS="191" ID="st9-22"/><SP/><String HEIGHT="28" CONTENT="has" WIDTH="35" HPOS="347" VPOS="190" ID="st9-23"/><SP/><String HEIGHT="28" CONTENT="so" WIDTH="24" HPOS="391" VPOS="190" ID="st9-24"/><SP/><String HEIGHT="28" CONTENT="far" WIDTH="30" HPOS="423" VPOS="190" ID="st9-25"/><SP/><String HEIGHT="28" CONTENT="drawn" WIDTH="70" HPOS="461" VPOS="190" ID="st9-26"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="539" VPOS="190" ID="st9-27"/><SP/><String HEIGHT="28" CONTENT="most" WIDTH="56" HPOS="582" VPOS="190" ID="st9-28"/><SP/><String HEIGHT="28" CONTENT="attention" WIDTH="101" HPOS="646" VPOS="190" ID="st9-29"/><SP/><String HEIGHT="28" CONTENT="because" WIDTH="85" HPOS="755" VPOS="190" ID="st9-30"/><SP/><String HEIGHT="28" CONTENT="it" WIDTH="16" HPOS="848" VPOS="190" ID="st9-31"/><SP/><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="872" VPOS="190" ID="st9-32"/></TextLine><TextLine HPOS="94" VPOS="222" ID="tl9-3" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="94" VPOS="222" ID="st9-33"/><SP/><String HEIGHT="28" CONTENT="most" WIDTH="56" HPOS="139" VPOS="222" ID="st9-34"/><SP/><String HEIGHT="28" CONTENT="spectacular" WIDTH="123" HPOS="205" VPOS="222" ID="st9-35"/><SP/><String HEIGHT="28" CONTENT="development" WIDTH="141" HPOS="337" VPOS="222" ID="st9-36"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="478" VPOS="222" ID="st9-37"/><SP/><String HEIGHT="28" CONTENT="However" WIDTH="97" HPOS="500" VPOS="222" ID="st9-38"/><String HEIGHT="28" CONTENT="," WIDTH="14" HPOS="597" VPOS="222" ID="st9-39"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="621" VPOS="222" ID="st9-40"/><SP/><String HEIGHT="28" CONTENT="many" WIDTH="62" HPOS="652" VPOS="222" ID="st9-41"/><SP/><String HEIGHT="28" CONTENT="countries" WIDTH="103" HPOS="724" VPOS="222" ID="st9-42"/><SP/><String HEIGHT="28" CONTENT="asset" WIDTH="52" HPOS="837" VPOS="222" ID="st9-43"/></TextLine><TextLine HPOS="94" VPOS="254" ID="tl9-4" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="prices" WIDTH="64" HPOS="94" VPOS="254" ID="st9-44"/><String HEIGHT="28" CONTENT="(" WIDTH="11" HPOS="166" VPOS="254" ID="st9-45"/><String HEIGHT="28" CONTENT="stocks" WIDTH="66" HPOS="177" VPOS="254" ID="st9-46"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="251" VPOS="254" ID="st9-47"/><SP/><String HEIGHT="28" CONTENT="real" WIDTH="40" HPOS="300" VPOS="254" ID="st9-48"/><SP/><String HEIGHT="28" CONTENT="estate" WIDTH="61" HPOS="348" VPOS="254" ID="st9-49"/><String HEIGHT="28" CONTENT=")" WIDTH="11" HPOS="409" VPOS="254" ID="st9-50"/><SP/><String HEIGHT="28" CONTENT="have" WIDTH="50" HPOS="428" VPOS="254" ID="st9-51"/><SP/><String HEIGHT="28" CONTENT="fallen" WIDTH="60" HPOS="486" VPOS="254" ID="st9-52"/><SP/><String HEIGHT="28" CONTENT="significantly" WIDTH="128" HPOS="554" VPOS="254" ID="st9-53"/><String HEIGHT="28" CONTENT="." WIDTH="10" HPOS="682" VPOS="254" ID="st9-54"/><SP/><String HEIGHT="28" CONTENT="This" WIDTH="48" HPOS="700" VPOS="254" ID="st9-55"/><SP/><String HEIGHT="28" CONTENT="will" WIDTH="41" HPOS="756" VPOS="254" ID="st9-56"/><SP/><String HEIGHT="28" CONTENT="have" WIDTH="50" HPOS="805" VPOS="254" ID="st9-57"/><SP/><String HEIGHT="28" CONTENT="an" WIDTH="26" HPOS="863" VPOS="254" ID="st9-58"/></TextLine><TextLine HPOS="94" VPOS="286" ID="tl9-5" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="important" WIDTH="112" HPOS="94" VPOS="286" ID="st9-59"/><SP/><String HEIGHT="28" CONTENT="impact" WIDTH="75" HPOS="215" VPOS="286" ID="st9-60"/><SP/><String HEIGHT="28" CONTENT="due" WIDTH="41" HPOS="299" VPOS="286" ID="st9-61"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="349" VPOS="286" ID="st9-62"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="381" VPOS="286" ID="st9-63"/><SP/><String HEIGHT="28" CONTENT="wealth" WIDTH="73" HPOS="425" VPOS="286" ID="st9-64"/><SP/><String HEIGHT="28" CONTENT="effect" WIDTH="57" HPOS="507" VPOS="286" ID="st9-65"/><String HEIGHT="28" CONTENT="." WIDTH="10" HPOS="564" VPOS="286" ID="st9-66"/><SP/><String HEIGHT="28" CONTENT="Where" WIDTH="74" HPOS="582" VPOS="286" ID="st9-67"/><SP/><String HEIGHT="28" CONTENT="economies" WIDTH="118" HPOS="665" VPOS="286" ID="st9-68"/><SP/><String HEIGHT="28" CONTENT="have" WIDTH="50" HPOS="792" VPOS="286" ID="st9-69"/><SP/><String HEIGHT="28" CONTENT="fol" WIDTH="29" HPOS="851" VPOS="286" ID="st9-70" SUBS_TYPE="HypPart1" SUBS_CONTENT="followed"/><HYP CONTENT="-" WIDTH="9" HPOS="880" VPOS="286" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="318" ID="tl9-6" WIDTH="110" HEIGHT="28"><String HEIGHT="28" CONTENT="lowed" WIDTH="68" HPOS="94" VPOS="318" ID="st9-71" SUBS_TYPE="HypPart2" SUBS_CONTENT="followed"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="169" VPOS="318" ID="st9-72"/></TextLine><TextLine HPOS="210" VPOS="324" ID="tl9-7" WIDTH="30" HEIGHT="14"><String HEIGHT="14" CONTENT="us" WIDTH="30" HPOS="210" VPOS="324" ID="st9-73"/></TextLine><TextLine HPOS="246" VPOS="318" ID="tl9-8" WIDTH="643" HEIGHT="28"><String HEIGHT="28" CONTENT="neo" WIDTH="32" HPOS="246" VPOS="318" ID="st9-74"/><String HEIGHT="28" CONTENT="-" WIDTH="11" HPOS="278" VPOS="318" ID="st9-75"/><String HEIGHT="28" CONTENT="liberal" WIDTH="76" HPOS="289" VPOS="318" ID="st9-76"/><SP/><String HEIGHT="28" CONTENT="model" WIDTH="70" HPOS="372" VPOS="318" ID="st9-77"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="449" VPOS="318" ID="st9-78"/><SP/><String HEIGHT="28" CONTENT="sheer" WIDTH="58" HPOS="490" VPOS="318" ID="st9-79"/><SP/><String HEIGHT="28" CONTENT="necessity" WIDTH="96" HPOS="555" VPOS="318" ID="st9-80"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="658" VPOS="318" ID="st9-81"/><SP/><String HEIGHT="28" CONTENT="rebuilding" WIDTH="115" HPOS="688" VPOS="318" ID="st9-82"/><SP/><String HEIGHT="28" CONTENT="savings" WIDTH="79" HPOS="810" VPOS="318" ID="st9-83"/></TextLine><TextLine HPOS="94" VPOS="350" ID="tl9-9" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="will" WIDTH="42" HPOS="94" VPOS="350" ID="st9-84"/><SP/><String HEIGHT="28" CONTENT="severely" WIDTH="88" HPOS="150" VPOS="350" ID="st9-85"/><SP/><String HEIGHT="28" CONTENT="constrain" WIDTH="105" HPOS="252" VPOS="350" ID="st9-86"/><SP/><String HEIGHT="28" CONTENT="household" WIDTH="118" HPOS="371" VPOS="350" ID="st9-87"/><SP/><String HEIGHT="28" CONTENT="consumption" WIDTH="151" HPOS="503" VPOS="350" ID="st9-88"/><SP/><String HEIGHT="28" CONTENT="for" WIDTH="34" HPOS="667" VPOS="350" ID="st9-89"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="715" VPOS="350" ID="st9-90"/><SP/><String HEIGHT="28" CONTENT="foreseeable" WIDTH="125" HPOS="764" VPOS="350" ID="st9-91"/></TextLine><TextLine HPOS="94" VPOS="381" ID="tl9-10" WIDTH="75" HEIGHT="29"><String HEIGHT="29" CONTENT="future" WIDTH="64" HPOS="94" VPOS="381" ID="st9-92"/><String HEIGHT="29" CONTENT="." WIDTH="11" HPOS="158" VPOS="381" ID="st9-93"/></TextLine><TextLine HPOS="129" VPOS="413" ID="tl9-11" WIDTH="760" HEIGHT="29"><String HEIGHT="29" CONTENT="The" WIDTH="44" HPOS="129" VPOS="413" ID="st9-94"/><SP/><String HEIGHT="29" CONTENT="combined" WIDTH="111" HPOS="179" VPOS="413" ID="st9-95"/><SP/><String HEIGHT="29" CONTENT="product" WIDTH="88" HPOS="296" VPOS="413" ID="st9-96"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="390" VPOS="413" ID="st9-97"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="419" VPOS="413" ID="st9-98"/><SP/><String HEIGHT="29" CONTENT="end" WIDTH="41" HPOS="460" VPOS="413" ID="st9-99"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="507" VPOS="413" ID="st9-100"/><SP/><String HEIGHT="27" CONTENT="home" WIDTH="54" HPOS="536" VPOS="415" ID="st9-101"/><SP/><String HEIGHT="27" CONTENT="equity" WIDTH="62" HPOS="596" VPOS="415" ID="st9-102"/><SP/><String HEIGHT="27" CONTENT="extraction" WIDTH="102" HPOS="664" VPOS="415" ID="st9-103"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="772" VPOS="413" ID="st9-104"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="12" HPOS="819" VPOS="413" ID="st9-105"/><SP/><String HEIGHT="29" CONTENT="mas" WIDTH="39" HPOS="837" VPOS="413" ID="st9-106" SUBS_TYPE="HypPart1" SUBS_CONTENT="massive"/><HYP CONTENT="-" WIDTH="13" HPOS="876" VPOS="413" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="445" ID="tl9-12" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="sive" WIDTH="42" HPOS="94" VPOS="445" ID="st9-107" SUBS_TYPE="HypPart2" SUBS_CONTENT="massive"/><SP/><String HEIGHT="27" CONTENT="negative" WIDTH="87" HPOS="145" VPOS="447" ID="st9-108"/><SP/><String HEIGHT="29" CONTENT="wealth" WIDTH="74" HPOS="242" VPOS="445" ID="st9-109"/><SP/><String HEIGHT="29" CONTENT="effect" WIDTH="60" HPOS="325" VPOS="445" ID="st9-110"/><SP/><String HEIGHT="29" CONTENT="triggered" WIDTH="102" HPOS="395" VPOS="445" ID="st9-111"/><SP/><String HEIGHT="29" CONTENT="by" WIDTH="27" HPOS="507" VPOS="445" ID="st9-112"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="36" HPOS="543" VPOS="445" ID="st9-113"/><SP/><String HEIGHT="29" CONTENT="downward" WIDTH="121" HPOS="588" VPOS="445" ID="st9-114"/><SP/><String HEIGHT="29" CONTENT="plunge" WIDTH="77" HPOS="718" VPOS="445" ID="st9-115"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="805" VPOS="445" ID="st9-116"/><SP/><String HEIGHT="29" CONTENT="asset" WIDTH="52" HPOS="837" VPOS="445" ID="st9-117"/></TextLine><TextLine HPOS="94" VPOS="477" ID="tl9-13" WIDTH="507" HEIGHT="29"><String HEIGHT="29" CONTENT="prices" WIDTH="64" HPOS="94" VPOS="477" ID="st9-118"/><SP/><String HEIGHT="29" CONTENT="will" WIDTH="41" HPOS="165" VPOS="477" ID="st9-119"/><SP/><String HEIGHT="29" CONTENT="greatly" WIDTH="76" HPOS="212" VPOS="477" ID="st9-120"/><SP/><String HEIGHT="29" CONTENT="depress" WIDTH="82" HPOS="294" VPOS="477" ID="st9-121"/><SP/><String HEIGHT="29" CONTENT="consumption" WIDTH="147" HPOS="383" VPOS="477" ID="st9-122"/><SP/><String HEIGHT="29" CONTENT="in" WIDTH="22" HPOS="537" VPOS="477" ID="st9-123"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="566" VPOS="477" ID="st9-124"/></TextLine><TextLine HPOS="607" VPOS="484" ID="tl9-14" WIDTH="30" HEIGHT="14"><String HEIGHT="14" CONTENT="us" WIDTH="30" HPOS="607" VPOS="484" ID="st9-125"/></TextLine><TextLine HPOS="643" VPOS="477" ID="tl9-15" WIDTH="246" HEIGHT="29"><String HEIGHT="29" CONTENT="economy" WIDTH="93" HPOS="643" VPOS="477" ID="st9-126"/><String HEIGHT="29" CONTENT="." WIDTH="14" HPOS="736" VPOS="477" ID="st9-127"/><SP/><String HEIGHT="27" CONTENT="Home" WIDTH="64" HPOS="757" VPOS="479" ID="st9-128"/><SP/><String HEIGHT="27" CONTENT="equity" WIDTH="62" HPOS="827" VPOS="479" ID="st9-129"/></TextLine><TextLine HPOS="94" VPOS="511" ID="tl9-16" WIDTH="795" HEIGHT="27"><String HEIGHT="27" CONTENT="extraction" WIDTH="103" HPOS="94" VPOS="511" ID="st9-130"/><SP/><String HEIGHT="29" CONTENT="amounted" WIDTH="113" HPOS="202" VPOS="509" ID="st9-131"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="23" HPOS="321" VPOS="509" ID="st9-132"/><SP/><String HEIGHT="29" CONTENT="three" WIDTH="56" HPOS="350" VPOS="509" ID="st9-133"/><SP/><String HEIGHT="29" CONTENT="percent" WIDTH="83" HPOS="411" VPOS="509" ID="st9-134"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="499" VPOS="509" ID="st9-135"/><SP/><String HEIGHT="29" CONTENT="real" WIDTH="40" HPOS="527" VPOS="509" ID="st9-136"/><SP/><String HEIGHT="29" CONTENT="disposable" WIDTH="115" HPOS="573" VPOS="509" ID="st9-137"/><SP/><String HEIGHT="29" CONTENT="consumer" WIDTH="109" HPOS="693" VPOS="509" ID="st9-138"/><SP/><String HEIGHT="29" CONTENT="income" WIDTH="81" HPOS="808" VPOS="509" ID="st9-139"/></TextLine><TextLine HPOS="94" VPOS="541" ID="tl9-17" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="by" WIDTH="28" HPOS="94" VPOS="541" ID="st9-140"/><SP/><String HEIGHT="28" CONTENT="2005/2006" WIDTH="115" HPOS="134" VPOS="541" ID="st9-141"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="249" VPOS="541" ID="st9-142"/><SP/><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="274" VPOS="541" ID="st9-143"/><SP/><String HEIGHT="28" CONTENT="sharp" WIDTH="62" HPOS="331" VPOS="541" ID="st9-144"/><SP/><String HEIGHT="28" CONTENT="fall" WIDTH="35" HPOS="405" VPOS="541" ID="st9-145"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="23" HPOS="452" VPOS="541" ID="st9-146"/><SP/><String HEIGHT="28" CONTENT="home" WIDTH="65" HPOS="487" VPOS="541" ID="st9-147"/><SP/><String HEIGHT="28" CONTENT="prices" WIDTH="65" HPOS="565" VPOS="541" ID="st9-148"/><SP/><String HEIGHT="28" CONTENT="erased" WIDTH="70" HPOS="643" VPOS="541" ID="st9-149"/><SP/><String HEIGHT="28" CONTENT="this" WIDTH="41" HPOS="726" VPOS="541" ID="st9-150"/><SP/><String HEIGHT="28" CONTENT="source" WIDTH="73" HPOS="780" VPOS="541" ID="st9-151"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="866" VPOS="541" ID="st9-152"/></TextLine><TextLine HPOS="94" VPOS="573" ID="tl9-18" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="consumption" WIDTH="147" HPOS="94" VPOS="573" ID="st9-153"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="248" VPOS="573" ID="st9-154"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="295" VPOS="573" ID="st9-155"/><SP/><String HEIGHT="28" CONTENT="stock" WIDTH="57" HPOS="337" VPOS="573" ID="st9-156"/><SP/><String HEIGHT="28" CONTENT="market" WIDTH="77" HPOS="401" VPOS="573" ID="st9-157"/><SP/><String HEIGHT="28" CONTENT="crash" WIDTH="56" HPOS="485" VPOS="573" ID="st9-158"/><SP/><String HEIGHT="28" CONTENT="has" WIDTH="36" HPOS="548" VPOS="573" ID="st9-159"/><SP/><String HEIGHT="28" CONTENT="created" WIDTH="80" HPOS="590" VPOS="573" ID="st9-160"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="676" VPOS="573" ID="st9-161"/><SP/><String HEIGHT="28" CONTENT="huge" WIDTH="55" HPOS="694" VPOS="573" ID="st9-162"/><SP/><String HEIGHT="28" CONTENT="problem" WIDTH="94" HPOS="756" VPOS="573" ID="st9-163"/><SP/><String HEIGHT="28" CONTENT="for" WIDTH="32" HPOS="857" VPOS="573" ID="st9-164"/></TextLine><TextLine HPOS="94" VPOS="605" ID="tl9-19" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="retirement" WIDTH="118" HPOS="94" VPOS="605" ID="st9-165"/><SP/><String HEIGHT="28" CONTENT="pension" WIDTH="89" HPOS="221" VPOS="605" ID="st9-166"/><SP/><String HEIGHT="28" CONTENT="funds" WIDTH="58" HPOS="320" VPOS="605" ID="st9-167"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="378" VPOS="605" ID="st9-168"/><SP/><String HEIGHT="28" CONTENT="which" WIDTH="69" HPOS="399" VPOS="605" ID="st9-169"/><SP/><String HEIGHT="28" CONTENT="must" WIDTH="57" HPOS="477" VPOS="605" ID="st9-170"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="27" HPOS="543" VPOS="605" ID="st9-171"/><SP/><String HEIGHT="28" CONTENT="redressed" WIDTH="105" HPOS="579" VPOS="605" ID="st9-172"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="27" HPOS="694" VPOS="605" ID="st9-173"/><SP/><String HEIGHT="28" CONTENT="increasing" WIDTH="113" HPOS="731" VPOS="605" ID="st9-174"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="854" VPOS="605" ID="st9-175"/></TextLine><TextLine HPOS="94" VPOS="637" ID="tl9-20" WIDTH="455" HEIGHT="28"><String HEIGHT="28" CONTENT="shockingly" WIDTH="121" HPOS="94" VPOS="637" ID="st9-176"/><SP/><String HEIGHT="28" CONTENT="low" WIDTH="42" HPOS="226" VPOS="637" ID="st9-177"/><SP/><String HEIGHT="28" CONTENT="household" WIDTH="118" HPOS="279" VPOS="637" ID="st9-178"/><SP/><String HEIGHT="28" CONTENT="savings" WIDTH="81" HPOS="408" VPOS="637" ID="st9-179"/><SP/><String HEIGHT="28" CONTENT="rate" WIDTH="39" HPOS="500" VPOS="637" ID="st9-180"/><String HEIGHT="28" CONTENT="." WIDTH="10" HPOS="539" VPOS="637" ID="st9-181"/></TextLine><TextLine HPOS="560" VPOS="643" ID="tl9-21" WIDTH="89" HEIGHT="15"><String HEIGHT="15" CONTENT="us" WIDTH="30" HPOS="560" VPOS="643" ID="st9-182"/><SP/><String HEIGHT="15" CONTENT="gdp" WIDTH="48" HPOS="601" VPOS="643" ID="st9-183"/></TextLine><TextLine HPOS="660" VPOS="637" ID="tl9-22" WIDTH="229" HEIGHT="28"><String HEIGHT="28" CONTENT="will" WIDTH="41" HPOS="660" VPOS="637" ID="st9-184"/><SP/><String HEIGHT="28" CONTENT="fall" WIDTH="34" HPOS="712" VPOS="637" ID="st9-185"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="27" HPOS="757" VPOS="637" ID="st9-186"/><SP/><String HEIGHT="28" CONTENT="between" WIDTH="94" HPOS="795" VPOS="637" ID="st9-187"/></TextLine><TextLine HPOS="94" VPOS="669" ID="tl9-23" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="−2" WIDTH="23" HPOS="94" VPOS="669" ID="st9-188"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="117" VPOS="669" ID="st9-189"/><String HEIGHT="28" CONTENT="5" WIDTH="12" HPOS="129" VPOS="669" ID="st9-190"/><SP/><String HEIGHT="28" CONTENT="percent" WIDTH="82" HPOS="150" VPOS="669" ID="st9-191"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="241" VPOS="669" ID="st9-192"/><SP/><String HEIGHT="28" CONTENT="−3" WIDTH="23" HPOS="290" VPOS="669" ID="st9-193"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="313" VPOS="669" ID="st9-194"/><String HEIGHT="28" CONTENT="5" WIDTH="12" HPOS="324" VPOS="669" ID="st9-195"/><SP/><String HEIGHT="28" CONTENT="percent" WIDTH="83" HPOS="344" VPOS="669" ID="st9-196"/><SP/><String HEIGHT="28" CONTENT="for" WIDTH="33" HPOS="435" VPOS="669" ID="st9-197"/><SP/><String HEIGHT="28" CONTENT="at" WIDTH="20" HPOS="477" VPOS="669" ID="st9-198"/><SP/><String HEIGHT="28" CONTENT="least" WIDTH="48" HPOS="506" VPOS="669" ID="st9-199"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="563" VPOS="669" ID="st9-200"/><SP/><String HEIGHT="28" CONTENT="next" WIDTH="47" HPOS="607" VPOS="669" ID="st9-201"/><SP/><String HEIGHT="28" CONTENT="three" WIDTH="56" HPOS="663" VPOS="669" ID="st9-202"/><SP/><String HEIGHT="28" CONTENT="–" WIDTH="13" HPOS="728" VPOS="669" ID="st9-203"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="750" VPOS="669" ID="st9-204"/><SP/><String HEIGHT="28" CONTENT="possibly" WIDTH="90" HPOS="799" VPOS="669" ID="st9-205"/></TextLine><TextLine HPOS="94" VPOS="701" ID="tl9-24" WIDTH="164" HEIGHT="28"><String HEIGHT="28" CONTENT="five" WIDTH="40" HPOS="94" VPOS="701" ID="st9-206"/><SP/><String HEIGHT="28" CONTENT="–" WIDTH="14" HPOS="140" VPOS="701" ID="st9-207"/><SP/><String HEIGHT="28" CONTENT="quarters" WIDTH="87" HPOS="160" VPOS="701" ID="st9-208"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="247" VPOS="701" ID="st9-209"/></TextLine><TextLine HPOS="129" VPOS="733" ID="tl9-25" WIDTH="500" HEIGHT="28"><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="129" VPOS="733" ID="st9-210"/><SP/><String HEIGHT="28" CONTENT="Eurozone" WIDTH="109" HPOS="180" VPOS="733" ID="st9-211"/><SP/><String HEIGHT="28" CONTENT="too" WIDTH="39" HPOS="296" VPOS="733" ID="st9-212"/><SP/><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="342" VPOS="733" ID="st9-213"/><SP/><String HEIGHT="28" CONTENT="now" WIDTH="49" HPOS="366" VPOS="733" ID="st9-214"/><SP/><String HEIGHT="28" CONTENT="entering" WIDTH="92" HPOS="422" VPOS="733" ID="st9-215"/><SP/><String HEIGHT="28" CONTENT="recession" WIDTH="97" HPOS="521" VPOS="733" ID="st9-216"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="618" VPOS="733" ID="st9-217"/></TextLine><TextLine HPOS="636" VPOS="739" ID="tl9-26" WIDTH="48" HEIGHT="14"><String HEIGHT="14" CONTENT="gdp" WIDTH="48" HPOS="636" VPOS="739" ID="st9-218"/></TextLine><TextLine HPOS="691" VPOS="733" ID="tl9-27" WIDTH="198" HEIGHT="28"><String HEIGHT="28" CONTENT="will" WIDTH="41" HPOS="691" VPOS="733" ID="st9-219"/><SP/><String HEIGHT="28" CONTENT="fall" WIDTH="33" HPOS="739" VPOS="733" ID="st9-220"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="27" HPOS="779" VPOS="733" ID="st9-221"/><SP/><String HEIGHT="28" CONTENT="at" WIDTH="21" HPOS="813" VPOS="733" ID="st9-222"/><SP/><String HEIGHT="28" CONTENT="least" WIDTH="48" HPOS="841" VPOS="733" ID="st9-223"/></TextLine><TextLine HPOS="94" VPOS="765" ID="tl9-28" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="−1" WIDTH="22" HPOS="94" VPOS="765" ID="st9-224"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="116" VPOS="765" ID="st9-225"/><String HEIGHT="28" CONTENT="5" WIDTH="11" HPOS="127" VPOS="765" ID="st9-226"/><SP/><String HEIGHT="28" CONTENT="percent" WIDTH="83" HPOS="143" VPOS="765" ID="st9-227"/><SP/><String HEIGHT="28" CONTENT="until" WIDTH="52" HPOS="231" VPOS="765" ID="st9-228"/><SP/><String HEIGHT="28" CONTENT="summer" WIDTH="90" HPOS="288" VPOS="765" ID="st9-229"/><SP/><String HEIGHT="28" CONTENT="2009" WIDTH="56" HPOS="384" VPOS="765" ID="st9-230"/><SP/><String HEIGHT="28" CONTENT="at" WIDTH="21" HPOS="445" VPOS="765" ID="st9-231"/><SP/><String HEIGHT="28" CONTENT="best" WIDTH="41" HPOS="471" VPOS="765" ID="st9-232"/><String HEIGHT="28" CONTENT="," WIDTH="11" HPOS="512" VPOS="765" ID="st9-233"/><SP/><String HEIGHT="28" CONTENT="with" WIDTH="51" HPOS="528" VPOS="765" ID="st9-234"/><SP/><String HEIGHT="28" CONTENT="some" WIDTH="58" HPOS="584" VPOS="765" ID="st9-235"/><SP/><String HEIGHT="28" CONTENT="countries" WIDTH="102" HPOS="648" VPOS="765" ID="st9-236"/><SP/><String HEIGHT="28" CONTENT="looking" WIDTH="85" HPOS="755" VPOS="765" ID="st9-237"/><SP/><String HEIGHT="28" CONTENT="par" WIDTH="33" HPOS="846" VPOS="765" ID="st9-238" SUBS_TYPE="HypPart1" SUBS_CONTENT="particularly"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="765" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="797" ID="tl9-29" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="ticularly" WIDTH="90" HPOS="94" VPOS="797" ID="st9-239" SUBS_TYPE="HypPart2" SUBS_CONTENT="particularly"/><SP/><String HEIGHT="28" CONTENT="vulnerable" WIDTH="114" HPOS="190" VPOS="797" ID="st9-240"/><String HEIGHT="28" CONTENT="(" WIDTH="12" HPOS="310" VPOS="797" ID="st9-241"/><String HEIGHT="28" CONTENT="Spain" WIDTH="61" HPOS="322" VPOS="797" ID="st9-242"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="389" VPOS="797" ID="st9-243"/><SP/><String HEIGHT="28" CONTENT="Italy" WIDTH="47" HPOS="437" VPOS="797" ID="st9-244"/><String HEIGHT="28" CONTENT=")" WIDTH="9" HPOS="484" VPOS="797" ID="st9-245"/><String HEIGHT="28" CONTENT="." WIDTH="10" HPOS="493" VPOS="797" ID="st9-246"/><SP/><String HEIGHT="28" CONTENT="Even" WIDTH="56" HPOS="509" VPOS="797" ID="st9-247"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="571" VPOS="797" ID="st9-248"/><SP/><String HEIGHT="28" CONTENT="German" WIDTH="91" HPOS="612" VPOS="797" ID="st9-249"/><SP/><String HEIGHT="28" CONTENT="neo" WIDTH="33" HPOS="709" VPOS="797" ID="st9-250"/><String HEIGHT="28" CONTENT="-" WIDTH="12" HPOS="742" VPOS="797" ID="st9-251"/><String HEIGHT="28" CONTENT="mercantilist" WIDTH="135" HPOS="754" VPOS="797" ID="st9-252"/></TextLine><TextLine HPOS="94" VPOS="829" ID="tl9-30" WIDTH="559" HEIGHT="28"><String HEIGHT="28" CONTENT="model" WIDTH="70" HPOS="94" VPOS="829" ID="st9-253"/><SP/><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="170" VPOS="829" ID="st9-254"/><SP/><String HEIGHT="28" CONTENT="facing" WIDTH="67" HPOS="193" VPOS="829" ID="st9-255"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="266" VPOS="829" ID="st9-256"/><SP/><String HEIGHT="28" CONTENT="major" WIDTH="66" HPOS="283" VPOS="829" ID="st9-257"/><SP/><String HEIGHT="28" CONTENT="challenge" WIDTH="99" HPOS="355" VPOS="829" ID="st9-258"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="454" VPOS="829" ID="st9-259"/><SP/><String HEIGHT="28" CONTENT="In" WIDTH="25" HPOS="471" VPOS="829" ID="st9-260"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="502" VPOS="829" ID="st9-261"/><SP/><String HEIGHT="28" CONTENT="rest" WIDTH="40" HPOS="543" VPOS="829" ID="st9-262"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="589" VPOS="829" ID="st9-263"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="618" VPOS="829" ID="st9-264"/></TextLine><TextLine HPOS="659" VPOS="835" ID="tl9-31" WIDTH="31" HEIGHT="14"><String HEIGHT="14" CONTENT="eu" WIDTH="31" HPOS="659" VPOS="835" ID="st9-265"/></TextLine><TextLine HPOS="690" VPOS="829" ID="tl9-32" WIDTH="49" HEIGHT="28"><String HEIGHT="28" CONTENT="," WIDTH="8" HPOS="690" VPOS="829" ID="st9-266"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="36" HPOS="703" VPOS="829" ID="st9-267"/></TextLine><TextLine HPOS="744" VPOS="835" ID="tl9-33" WIDTH="34" HEIGHT="14"><String HEIGHT="14" CONTENT="uk" WIDTH="34" HPOS="744" VPOS="835" ID="st9-268"/></TextLine><TextLine HPOS="784" VPOS="829" ID="tl9-34" WIDTH="105" HEIGHT="28"><String HEIGHT="28" CONTENT="will" WIDTH="40" HPOS="784" VPOS="829" ID="st9-269"/><SP/><String HEIGHT="28" CONTENT="expe" WIDTH="48" HPOS="830" VPOS="829" ID="st9-270" SUBS_TYPE="HypPart1" SUBS_CONTENT="experience"/><HYP CONTENT="-" WIDTH="11" HPOS="878" VPOS="829" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="861" ID="tl9-35" WIDTH="490" HEIGHT="28"><String HEIGHT="28" CONTENT="rience" WIDTH="66" HPOS="94" VPOS="861" ID="st9-271" SUBS_TYPE="HypPart2" SUBS_CONTENT="experience"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="168" VPOS="861" ID="st9-272"/><SP/><String HEIGHT="28" CONTENT="shock" WIDTH="63" HPOS="188" VPOS="861" ID="st9-273"/><SP/><String HEIGHT="28" CONTENT="very" WIDTH="46" HPOS="259" VPOS="861" ID="st9-274"/><SP/><String HEIGHT="28" CONTENT="similar" WIDTH="75" HPOS="313" VPOS="861" ID="st9-275"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="24" HPOS="395" VPOS="861" ID="st9-276"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="427" VPOS="861" ID="st9-277"/><SP/><String HEIGHT="28" CONTENT="one" WIDTH="41" HPOS="470" VPOS="861" ID="st9-278"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="519" VPOS="861" ID="st9-279"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="36" HPOS="548" VPOS="861" ID="st9-280"/></TextLine><TextLine HPOS="591" VPOS="867" ID="tl9-36" WIDTH="30" HEIGHT="14"><String HEIGHT="14" CONTENT="us" WIDTH="30" HPOS="591" VPOS="867" ID="st9-281"/></TextLine><TextLine HPOS="628" VPOS="861" ID="tl9-37" WIDTH="262" HEIGHT="28"><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="628" VPOS="861" ID="st9-282"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="677" VPOS="861" ID="st9-283"/><String HEIGHT="28" CONTENT="»" WIDTH="14" HPOS="720" VPOS="861" ID="st9-284"/><String HEIGHT="28" CONTENT="new" WIDTH="45" HPOS="734" VPOS="861" ID="st9-285"/><SP/><String HEIGHT="28" CONTENT="entrants" WIDTH="91" HPOS="787" VPOS="861" ID="st9-286"/><String HEIGHT="28" CONTENT="«" WIDTH="12" HPOS="878" VPOS="861" ID="st9-287"/></TextLine><TextLine HPOS="94" VPOS="893" ID="tl9-38" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="will" WIDTH="41" HPOS="94" VPOS="893" ID="st9-288"/><SP/><String HEIGHT="28" CONTENT="fall" WIDTH="34" HPOS="145" VPOS="893" ID="st9-289"/><SP/><String HEIGHT="28" CONTENT="into" WIDTH="46" HPOS="188" VPOS="893" ID="st9-290"/><SP/><String HEIGHT="28" CONTENT="deep" WIDTH="53" HPOS="244" VPOS="893" ID="st9-291"/><SP/><String HEIGHT="28" CONTENT="recession" WIDTH="102" HPOS="306" VPOS="893" ID="st9-292"/><String HEIGHT="28" CONTENT="(" WIDTH="10" HPOS="418" VPOS="893" ID="st9-293"/><String HEIGHT="28" CONTENT="Baltic" WIDTH="64" HPOS="428" VPOS="893" ID="st9-294"/><SP/><String HEIGHT="28" CONTENT="States" WIDTH="62" HPOS="501" VPOS="893" ID="st9-295"/><String HEIGHT="28" CONTENT="," WIDTH="11" HPOS="563" VPOS="893" ID="st9-296"/><SP/><String HEIGHT="28" CONTENT="Hungary" WIDTH="93" HPOS="584" VPOS="893" ID="st9-297"/><String HEIGHT="28" CONTENT="," WIDTH="14" HPOS="677" VPOS="893" ID="st9-298"/><SP/><String HEIGHT="28" CONTENT="Romania" WIDTH="96" HPOS="701" VPOS="893" ID="st9-299"/><String HEIGHT="28" CONTENT="," WIDTH="14" HPOS="797" VPOS="893" ID="st9-300"/><SP/><String HEIGHT="28" CONTENT="Czech" WIDTH="69" HPOS="820" VPOS="893" ID="st9-301"/></TextLine><TextLine HPOS="94" VPOS="925" ID="tl9-39" WIDTH="725" HEIGHT="28"><String HEIGHT="28" CONTENT="Republic" WIDTH="102" HPOS="94" VPOS="925" ID="st9-302"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="42" HPOS="208" VPOS="925" ID="st9-303"/><SP/><String HEIGHT="28" CONTENT="Poland" WIDTH="71" HPOS="262" VPOS="925" ID="st9-304"/><String HEIGHT="28" CONTENT=")" WIDTH="12" HPOS="333" VPOS="925" ID="st9-305"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="345" VPOS="925" ID="st9-306"/><SP/><String HEIGHT="28" CONTENT="Mediterranean" WIDTH="166" HPOS="370" VPOS="925" ID="st9-307"/><SP/><String HEIGHT="28" CONTENT="countries" WIDTH="105" HPOS="548" VPOS="925" ID="st9-308"/><SP/><String HEIGHT="28" CONTENT="linked" WIDTH="70" HPOS="665" VPOS="925" ID="st9-309"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="24" HPOS="747" VPOS="925" ID="st9-310"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="784" VPOS="925" ID="st9-311"/></TextLine><TextLine HPOS="831" VPOS="931" ID="tl9-40" WIDTH="33" HEIGHT="14"><String HEIGHT="14" CONTENT="eu" WIDTH="33" HPOS="831" VPOS="931" ID="st9-312"/></TextLine><TextLine HPOS="876" VPOS="925" ID="tl9-41" WIDTH="13" HEIGHT="28"><String HEIGHT="28" CONTENT="–" WIDTH="13" HPOS="876" VPOS="925" ID="st9-313"/></TextLine><TextLine HPOS="94" VPOS="956" ID="tl9-42" WIDTH="750" HEIGHT="29"><String HEIGHT="29" CONTENT="Morocco" WIDTH="102" HPOS="94" VPOS="956" ID="st9-314"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="40" HPOS="203" VPOS="956" ID="st9-315"/><SP/><String HEIGHT="29" CONTENT="Tunisia" WIDTH="79" HPOS="250" VPOS="956" ID="st9-316"/><SP/><String HEIGHT="29" CONTENT="–" WIDTH="13" HPOS="336" VPOS="956" ID="st9-317"/><SP/><String HEIGHT="29" CONTENT="will" WIDTH="41" HPOS="356" VPOS="956" ID="st9-318"/><SP/><String HEIGHT="29" CONTENT="also" WIDTH="43" HPOS="403" VPOS="956" ID="st9-319"/><SP/><String HEIGHT="29" CONTENT="suffer" WIDTH="62" HPOS="453" VPOS="956" ID="st9-320"/><SP/><String HEIGHT="29" CONTENT="from" WIDTH="54" HPOS="522" VPOS="956" ID="st9-321"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="583" VPOS="956" ID="st9-322"/><SP/><String HEIGHT="29" CONTENT="impact" WIDTH="75" HPOS="625" VPOS="956" ID="st9-323"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="707" VPOS="956" ID="st9-324"/><SP/><String HEIGHT="29" CONTENT="recession" WIDTH="97" HPOS="736" VPOS="956" ID="st9-325"/><String HEIGHT="29" CONTENT="." WIDTH="11" HPOS="833" VPOS="956" ID="st9-326"/></TextLine><TextLine HPOS="129" VPOS="988" ID="tl9-43" WIDTH="760" HEIGHT="29"><String HEIGHT="29" CONTENT="The" WIDTH="44" HPOS="129" VPOS="988" ID="st9-327"/><SP/><String HEIGHT="29" CONTENT="serious" WIDTH="77" HPOS="179" VPOS="988" ID="st9-328"/><SP/><String HEIGHT="29" CONTENT="contraction" WIDTH="127" HPOS="262" VPOS="988" ID="st9-329"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="395" VPOS="988" ID="st9-330"/><SP/><String HEIGHT="29" CONTENT="consumer" WIDTH="109" HPOS="423" VPOS="988" ID="st9-331"/><SP/><String HEIGHT="29" CONTENT="demand" WIDTH="83" HPOS="538" VPOS="988" ID="st9-332"/><String HEIGHT="29" CONTENT="," WIDTH="14" HPOS="621" VPOS="988" ID="st9-333"/><SP/><String HEIGHT="29" CONTENT="already" WIDTH="79" HPOS="640" VPOS="988" ID="st9-334"/><SP/><String HEIGHT="29" CONTENT="obvious" WIDTH="88" HPOS="725" VPOS="988" ID="st9-335"/><SP/><String HEIGHT="29" CONTENT="on" WIDTH="30" HPOS="819" VPOS="988" ID="st9-336"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="854" VPOS="988" ID="st9-337"/></TextLine><TextLine HPOS="94" VPOS="1020" ID="tl9-44" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="car" WIDTH="32" HPOS="94" VPOS="1020" ID="st9-338"/><SP/><String HEIGHT="29" CONTENT="market" WIDTH="77" HPOS="133" VPOS="1020" ID="st9-339"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="217" VPOS="1020" ID="st9-340"/><SP/><String HEIGHT="29" CONTENT="in" WIDTH="22" HPOS="264" VPOS="1020" ID="st9-341"/><SP/><String HEIGHT="29" CONTENT="house" WIDTH="65" HPOS="293" VPOS="1020" ID="st9-342"/><SP/><String HEIGHT="29" CONTENT="building" WIDTH="89" HPOS="365" VPOS="1020" ID="st9-343"/><String HEIGHT="29" CONTENT="," WIDTH="12" HPOS="454" VPOS="1020" ID="st9-344"/><SP/><String HEIGHT="29" CONTENT="will" WIDTH="40" HPOS="473" VPOS="1020" ID="st9-345"/><SP/><String HEIGHT="29" CONTENT="increase" WIDTH="88" HPOS="520" VPOS="1020" ID="st9-346"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="614" VPOS="1020" ID="st9-347"/><SP/><String HEIGHT="29" CONTENT="number" WIDTH="88" HPOS="656" VPOS="1020" ID="st9-348"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="750" VPOS="1020" ID="st9-349"/><SP/><String HEIGHT="29" CONTENT="enterprise" WIDTH="109" HPOS="780" VPOS="1020" ID="st9-350"/></TextLine><TextLine HPOS="94" VPOS="1052" ID="tl9-45" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="bankruptcies" WIDTH="139" HPOS="94" VPOS="1052" ID="st9-351"/><String HEIGHT="29" CONTENT="." WIDTH="12" HPOS="233" VPOS="1052" ID="st9-352"/><SP/><String HEIGHT="29" CONTENT="Unemployment" WIDTH="171" HPOS="255" VPOS="1052" ID="st9-353"/><String HEIGHT="29" CONTENT="," WIDTH="15" HPOS="426" VPOS="1052" ID="st9-354"/><SP/><String HEIGHT="29" CONTENT="which" WIDTH="69" HPOS="451" VPOS="1052" ID="st9-355"/><SP/><String HEIGHT="29" CONTENT="has" WIDTH="37" HPOS="529" VPOS="1052" ID="st9-356"/><SP/><String HEIGHT="29" CONTENT="already" WIDTH="80" HPOS="576" VPOS="1052" ID="st9-357"/><SP/><String HEIGHT="29" CONTENT="increased" WIDTH="104" HPOS="665" VPOS="1052" ID="st9-358"/><SP/><String HEIGHT="29" CONTENT="rapidly" WIDTH="78" HPOS="779" VPOS="1052" ID="st9-359"/><SP/><String HEIGHT="29" CONTENT="in" WIDTH="22" HPOS="867" VPOS="1052" ID="st9-360"/></TextLine><TextLine HPOS="94" VPOS="1084" ID="tl9-46" WIDTH="162" HEIGHT="29"><String HEIGHT="29" CONTENT="Spain" WIDTH="64" HPOS="94" VPOS="1084" ID="st9-361"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="42" HPOS="168" VPOS="1084" ID="st9-362"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="36" HPOS="220" VPOS="1084" ID="st9-363"/></TextLine><TextLine HPOS="267" VPOS="1091" ID="tl9-47" WIDTH="44" HEIGHT="14"><String HEIGHT="14" CONTENT="usa" WIDTH="44" HPOS="267" VPOS="1091" ID="st9-364"/></TextLine><TextLine HPOS="311" VPOS="1084" ID="tl9-48" WIDTH="578" HEIGHT="29"><String HEIGHT="29" CONTENT="," WIDTH="7" HPOS="311" VPOS="1084" ID="st9-365"/><SP/><String HEIGHT="29" CONTENT="will" WIDTH="41" HPOS="329" VPOS="1084" ID="st9-366"/><SP/><String HEIGHT="29" CONTENT="soar" WIDTH="46" HPOS="381" VPOS="1084" ID="st9-367"/><SP/><String HEIGHT="29" CONTENT="across" WIDTH="68" HPOS="438" VPOS="1084" ID="st9-368"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="36" HPOS="516" VPOS="1084" ID="st9-369"/><SP/><String HEIGHT="29" CONTENT="board" WIDTH="60" HPOS="563" VPOS="1084" ID="st9-370"/><String HEIGHT="29" CONTENT="," WIDTH="13" HPOS="623" VPOS="1084" ID="st9-371"/><SP/><String HEIGHT="29" CONTENT="increasing" WIDTH="113" HPOS="647" VPOS="1084" ID="st9-372"/><SP/><String HEIGHT="29" CONTENT="household" WIDTH="118" HPOS="771" VPOS="1084" ID="st9-373"/></TextLine><TextLine HPOS="94" VPOS="1116" ID="tl9-49" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="insolvency" WIDTH="116" HPOS="94" VPOS="1116" ID="st9-374"/><SP/><String HEIGHT="28" CONTENT="when" WIDTH="61" HPOS="218" VPOS="1116" ID="st9-375"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="286" VPOS="1116" ID="st9-376"/><SP/><String HEIGHT="28" CONTENT="where" WIDTH="68" HPOS="335" VPOS="1116" ID="st9-377"/><SP/><String HEIGHT="28" CONTENT="unemployment" WIDTH="169" HPOS="411" VPOS="1116" ID="st9-378"/><SP/><String HEIGHT="28" CONTENT="benefits" WIDTH="87" HPOS="588" VPOS="1116" ID="st9-379"/><SP/><String HEIGHT="28" CONTENT="are" WIDTH="33" HPOS="683" VPOS="1116" ID="st9-380"/><SP/><String HEIGHT="28" CONTENT="too" WIDTH="39" HPOS="723" VPOS="1116" ID="st9-381"/><SP/><String HEIGHT="28" CONTENT="low" WIDTH="42" HPOS="769" VPOS="1116" ID="st9-382"/><SP/><String HEIGHT="28" CONTENT="or" WIDTH="24" HPOS="819" VPOS="1116" ID="st9-383"/><SP/><String HEIGHT="28" CONTENT="too" WIDTH="38" HPOS="851" VPOS="1116" ID="st9-384"/></TextLine><TextLine HPOS="94" VPOS="1148" ID="tl9-50" WIDTH="207" HEIGHT="28"><String HEIGHT="28" CONTENT="restricted" WIDTH="103" HPOS="94" VPOS="1148" ID="st9-385"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="204" VPOS="1148" ID="st9-386"/><SP/><String HEIGHT="28" CONTENT="scope" WIDTH="57" HPOS="232" VPOS="1148" ID="st9-387"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="289" VPOS="1148" ID="st9-388"/></TextLine><TextLine HPOS="129" VPOS="1180" ID="tl9-51" WIDTH="760" HEIGHT="28"><String HEIGHT="28" CONTENT="Enterprise" WIDTH="116" HPOS="129" VPOS="1180" ID="st9-389"/><SP/><String HEIGHT="28" CONTENT="failures" WIDTH="80" HPOS="250" VPOS="1180" ID="st9-390"/><SP/><String HEIGHT="28" CONTENT="will" WIDTH="41" HPOS="335" VPOS="1180" ID="st9-391"/><SP/><String HEIGHT="28" CONTENT="create" WIDTH="65" HPOS="381" VPOS="1180" ID="st9-392"/><SP/><String HEIGHT="28" CONTENT="new" WIDTH="47" HPOS="451" VPOS="1180" ID="st9-393"/><String HEIGHT="28" CONTENT="»" WIDTH="11" HPOS="503" VPOS="1180" ID="st9-394"/><String HEIGHT="28" CONTENT="toxic" WIDTH="56" HPOS="514" VPOS="1180" ID="st9-395"/><String HEIGHT="28" CONTENT="«" WIDTH="12" HPOS="570" VPOS="1180" ID="st9-396"/><SP/><String HEIGHT="28" CONTENT="debt" WIDTH="50" HPOS="587" VPOS="1180" ID="st9-397"/><SP/><String HEIGHT="28" CONTENT="chains" WIDTH="70" HPOS="642" VPOS="1180" ID="st9-398"/><SP/><String HEIGHT="28" CONTENT="inside" WIDTH="65" HPOS="717" VPOS="1180" ID="st9-399"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="36" HPOS="787" VPOS="1180" ID="st9-400"/><SP/><String HEIGHT="28" CONTENT="bank" WIDTH="49" HPOS="828" VPOS="1180" ID="st9-401" SUBS_TYPE="HypPart1" SUBS_CONTENT="banking"/><HYP CONTENT="-" WIDTH="12" HPOS="877" VPOS="1180" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="1212" ID="tl9-52" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="ing" WIDTH="36" HPOS="94" VPOS="1212" ID="st9-402" SUBS_TYPE="HypPart2" SUBS_CONTENT="banking"/><SP/><String HEIGHT="28" CONTENT="sector" WIDTH="61" HPOS="140" VPOS="1212" ID="st9-403"/><String HEIGHT="28" CONTENT="," WIDTH="11" HPOS="201" VPOS="1212" ID="st9-404"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="42" HPOS="221" VPOS="1212" ID="st9-405"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="272" VPOS="1212" ID="st9-406"/><SP/><String HEIGHT="28" CONTENT="recession" WIDTH="101" HPOS="317" VPOS="1212" ID="st9-407"/><SP/><String HEIGHT="28" CONTENT="induced" WIDTH="90" HPOS="428" VPOS="1212" ID="st9-408"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="28" HPOS="527" VPOS="1212" ID="st9-409"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="564" VPOS="1212" ID="st9-410"/><SP/><String HEIGHT="28" CONTENT="financial" WIDTH="94" HPOS="609" VPOS="1212" ID="st9-411"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="55" HPOS="713" VPOS="1212" ID="st9-412"/><SP/><String HEIGHT="28" CONTENT="will" WIDTH="41" HPOS="778" VPOS="1212" ID="st9-413"/><SP/><String HEIGHT="28" CONTENT="bring" WIDTH="61" HPOS="828" VPOS="1212" ID="st9-414"/></TextLine><TextLine HPOS="94" VPOS="1244" ID="tl9-53" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="about" WIDTH="65" HPOS="94" VPOS="1244" ID="st9-415"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="169" VPOS="1244" ID="st9-416"/><SP/><String HEIGHT="28" CONTENT="new" WIDTH="47" HPOS="190" VPOS="1244" ID="st9-417"/><SP/><String HEIGHT="28" CONTENT="stage" WIDTH="56" HPOS="246" VPOS="1244" ID="st9-418"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="312" VPOS="1244" ID="st9-419"/><SP/><String HEIGHT="28" CONTENT="bank" WIDTH="55" HPOS="344" VPOS="1244" ID="st9-420"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="42" HPOS="408" VPOS="1244" ID="st9-421"/><SP/><String HEIGHT="28" CONTENT="insurance" WIDTH="106" HPOS="459" VPOS="1244" ID="st9-422"/><SP/><String HEIGHT="28" CONTENT="company" WIDTH="102" HPOS="575" VPOS="1244" ID="st9-423"/><SP/><String HEIGHT="28" CONTENT="difficulties" WIDTH="117" HPOS="687" VPOS="1244" ID="st9-424"/><SP/><String HEIGHT="28" CONTENT="during" WIDTH="76" HPOS="813" VPOS="1244" ID="st9-425"/></TextLine><TextLine HPOS="94" VPOS="1276" ID="tl9-54" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="winter" WIDTH="72" HPOS="94" VPOS="1276" ID="st9-426"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="171" VPOS="1276" ID="st9-427"/><SP/><String HEIGHT="28" CONTENT="early" WIDTH="53" HPOS="217" VPOS="1276" ID="st9-428"/><SP/><String HEIGHT="28" CONTENT="spring" WIDTH="70" HPOS="275" VPOS="1276" ID="st9-429"/><SP/><String HEIGHT="28" CONTENT="2009" WIDTH="51" HPOS="350" VPOS="1276" ID="st9-430"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="401" VPOS="1276" ID="st9-431"/><SP/><String HEIGHT="28" CONTENT="Governments" WIDTH="152" HPOS="419" VPOS="1276" ID="st9-432"/><SP/><String HEIGHT="28" CONTENT="will" WIDTH="41" HPOS="576" VPOS="1276" ID="st9-433"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="622" VPOS="1276" ID="st9-434"/><SP/><String HEIGHT="28" CONTENT="compelled" WIDTH="115" HPOS="653" VPOS="1276" ID="st9-435"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="773" VPOS="1276" ID="st9-436"/><SP/><String HEIGHT="28" CONTENT="increase" WIDTH="87" HPOS="802" VPOS="1276" ID="st9-437"/></TextLine><TextLine HPOS="94" VPOS="1308" ID="tl9-55" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="94" VPOS="1308" ID="st9-438"/><SP/><String HEIGHT="28" CONTENT="scope" WIDTH="62" HPOS="135" VPOS="1308" ID="st9-439"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="203" VPOS="1308" ID="st9-440"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="36" HPOS="231" VPOS="1308" ID="st9-441"/><SP/><String HEIGHT="28" CONTENT="financial" WIDTH="94" HPOS="272" VPOS="1308" ID="st9-442"/><SP/><String HEIGHT="28" CONTENT="relief" WIDTH="55" HPOS="372" VPOS="1308" ID="st9-443"/><SP/><String HEIGHT="28" CONTENT="programs" WIDTH="106" HPOS="433" VPOS="1308" ID="st9-444"/><SP/><String HEIGHT="28" CONTENT="adopted" WIDTH="90" HPOS="545" VPOS="1308" ID="st9-445"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="641" VPOS="1308" ID="st9-446"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="669" VPOS="1308" ID="st9-447"/><SP/><String HEIGHT="28" CONTENT="fall" WIDTH="33" HPOS="710" VPOS="1308" ID="st9-448"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="749" VPOS="1308" ID="st9-449"/><SP/><String HEIGHT="28" CONTENT="2008" WIDTH="49" HPOS="778" VPOS="1308" ID="st9-450"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="827" VPOS="1308" ID="st9-451"/><SP/><String HEIGHT="28" CONTENT="The" WIDTH="43" HPOS="846" VPOS="1308" ID="st9-452"/></TextLine><TextLine HPOS="94" VPOS="1398" ID="tl9-56" WIDTH="30" HEIGHT="11"><String HEIGHT="11" CONTENT="ipg" WIDTH="30" HPOS="94" VPOS="1398" ID="st9-453"/></TextLine><TextLine HPOS="128" VPOS="1394" ID="tl9-57" WIDTH="56" HEIGHT="21"><String HEIGHT="21" CONTENT="1/2009" WIDTH="56" HPOS="128" VPOS="1394" ID="st9-454"/></TextLine><TextLine HPOS="697" VPOS="1395" ID="tl9-58" WIDTH="152" HEIGHT="18"><String HEIGHT="18" CONTENT="Sapir" WIDTH="33" HPOS="697" VPOS="1395" ID="st9-455"/><String HEIGHT="18" CONTENT="," WIDTH="7" HPOS="730" VPOS="1395" ID="st9-456"/><SP/><String HEIGHT="18" CONTENT="Financial" WIDTH="64" HPOS="741" VPOS="1395" ID="st9-457"/><SP/><String HEIGHT="18" CONTENT="Crisis" WIDTH="39" HPOS="810" VPOS="1395" ID="st9-458"/></TextLine><TextLine HPOS="869" VPOS="1388" ID="tl9-59" WIDTH="20" HEIGHT="29"><String HEIGHT="29" CONTENT="35" WIDTH="20" HPOS="869" VPOS="1388" ID="st9-459"/></TextLine></TextBlock></PrintSpace></Page><Page WIDTH="984" PHYSICAL_IMG_NR="10" ID="p658178" HEIGHT="1472"><PrintSpace WIDTH="984" HPOS="0" VPOS="0" ID="ps658178" HEIGHT="1472"><TextBlock WIDTH="984" HPOS="0" VPOS="0" ID="tb658178" HEIGHT="1472"><TextLine HPOS="94" VPOS="94" ID="tl10-0" WIDTH="538" HEIGHT="28"><String HEIGHT="28" CONTENT="increasing" WIDTH="111" HPOS="94" VPOS="94" ID="st10-0"/><SP/><String HEIGHT="28" CONTENT="pressure" WIDTH="91" HPOS="210" VPOS="94" ID="st10-1"/><SP/><String HEIGHT="28" CONTENT="for" WIDTH="32" HPOS="306" VPOS="94" ID="st10-2"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="343" VPOS="94" ID="st10-3"/><SP/><String HEIGHT="28" CONTENT="large" WIDTH="50" HPOS="360" VPOS="94" ID="st10-4"/><String HEIGHT="28" CONTENT="-" WIDTH="11" HPOS="410" VPOS="94" ID="st10-5"/><String HEIGHT="28" CONTENT="scale" WIDTH="51" HPOS="421" VPOS="94" ID="st10-6"/><SP/><String HEIGHT="28" CONTENT="bail" WIDTH="43" HPOS="477" VPOS="94" ID="st10-7"/><String HEIGHT="28" CONTENT="-" WIDTH="11" HPOS="520" VPOS="94" ID="st10-8"/><String HEIGHT="28" CONTENT="out" WIDTH="33" HPOS="531" VPOS="94" ID="st10-9"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="569" VPOS="94" ID="st10-10"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="597" VPOS="94" ID="st10-11"/></TextLine><TextLine HPOS="637" VPOS="100" ID="tl10-1" WIDTH="29" HEIGHT="15"><String HEIGHT="15" CONTENT="us" WIDTH="29" HPOS="637" VPOS="100" ID="st10-12"/></TextLine><TextLine HPOS="671" VPOS="94" ID="tl10-2" WIDTH="218" HEIGHT="28"><String HEIGHT="28" CONTENT="car" WIDTH="36" HPOS="671" VPOS="94" ID="st10-13"/><String HEIGHT="28" CONTENT="-" WIDTH="12" HPOS="707" VPOS="94" ID="st10-14"/><String HEIGHT="28" CONTENT="making" WIDTH="74" HPOS="719" VPOS="94" ID="st10-15"/><SP/><String HEIGHT="28" CONTENT="industry" WIDTH="91" HPOS="798" VPOS="94" ID="st10-16"/></TextLine><TextLine HPOS="94" VPOS="126" ID="tl10-3" WIDTH="359" HEIGHT="28"><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="94" VPOS="126" ID="st10-17"/><SP/><String HEIGHT="28" CONTENT="just" WIDTH="40" HPOS="118" VPOS="126" ID="st10-18"/><SP/><String HEIGHT="28" CONTENT="one" WIDTH="41" HPOS="164" VPOS="126" ID="st10-19"/><SP/><String HEIGHT="28" CONTENT="example" WIDTH="91" HPOS="212" VPOS="126" ID="st10-20"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="309" VPOS="126" ID="st10-21"/><SP/><String HEIGHT="28" CONTENT="this" WIDTH="40" HPOS="339" VPOS="126" ID="st10-22"/><SP/><String HEIGHT="28" CONTENT="trend" WIDTH="55" HPOS="386" VPOS="126" ID="st10-23"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="441" VPOS="126" ID="st10-24"/></TextLine><TextLine HPOS="453" VPOS="124" ID="tl10-4" WIDTH="18" HEIGHT="20"><String HEIGHT="20" CONTENT="22" WIDTH="18" HPOS="453" VPOS="124" ID="st10-25"/></TextLine><TextLine HPOS="129" VPOS="158" ID="tl10-5" WIDTH="760" HEIGHT="28"><String HEIGHT="28" CONTENT="In" WIDTH="25" HPOS="129" VPOS="158" ID="st10-26"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="34" HPOS="160" VPOS="158" ID="st10-27"/><SP/><String HEIGHT="28" CONTENT="face" WIDTH="42" HPOS="200" VPOS="158" ID="st10-28"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="247" VPOS="158" ID="st10-29"/><SP/><String HEIGHT="28" CONTENT="increasing" WIDTH="111" HPOS="275" VPOS="158" ID="st10-30"/><SP/><String HEIGHT="28" CONTENT="economic" WIDTH="108" HPOS="391" VPOS="158" ID="st10-31"/><SP/><String HEIGHT="28" CONTENT="hardship" WIDTH="96" HPOS="504" VPOS="158" ID="st10-32"/><SP/><String HEIGHT="28" CONTENT="governments" WIDTH="144" HPOS="605" VPOS="158" ID="st10-33"/><SP/><String HEIGHT="28" CONTENT="will" WIDTH="41" HPOS="754" VPOS="158" ID="st10-34"/><SP/><String HEIGHT="28" CONTENT="respond" WIDTH="89" HPOS="800" VPOS="158" ID="st10-35"/></TextLine><TextLine HPOS="94" VPOS="190" ID="tl10-6" WIDTH="738" HEIGHT="28"><String HEIGHT="28" CONTENT="by" WIDTH="27" HPOS="94" VPOS="190" ID="st10-36"/><SP/><String HEIGHT="28" CONTENT="increasing" WIDTH="112" HPOS="126" VPOS="190" ID="st10-37"/><SP/><String HEIGHT="28" CONTENT="budget" WIDTH="78" HPOS="243" VPOS="190" ID="st10-38"/><SP/><String HEIGHT="28" CONTENT="deficits" WIDTH="76" HPOS="326" VPOS="190" ID="st10-39"/><String HEIGHT="28" CONTENT="." WIDTH="10" HPOS="402" VPOS="190" ID="st10-40"/><SP/><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="416" VPOS="190" ID="st10-41"/><SP/><String HEIGHT="28" CONTENT="most" WIDTH="55" HPOS="465" VPOS="190" ID="st10-42"/><SP/><String HEIGHT="28" CONTENT="dramatic" WIDTH="97" HPOS="525" VPOS="190" ID="st10-43"/><SP/><String HEIGHT="28" CONTENT="move" WIDTH="61" HPOS="627" VPOS="190" ID="st10-44"/><SP/><String HEIGHT="28" CONTENT="will" WIDTH="41" HPOS="693" VPOS="190" ID="st10-45"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="739" VPOS="190" ID="st10-46"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="770" VPOS="190" ID="st10-47"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="797" VPOS="190" ID="st10-48"/></TextLine><TextLine HPOS="837" VPOS="196" ID="tl10-7" WIDTH="44" HEIGHT="14"><String HEIGHT="14" CONTENT="usa" WIDTH="44" HPOS="837" VPOS="196" ID="st10-49"/></TextLine><TextLine HPOS="880" VPOS="190" ID="tl10-8" WIDTH="9" HEIGHT="28"><String HEIGHT="28" CONTENT=";" WIDTH="9" HPOS="880" VPOS="190" ID="st10-50"/></TextLine><TextLine HPOS="94" VPOS="222" ID="tl10-9" WIDTH="196" HEIGHT="28"><String HEIGHT="28" CONTENT="one" WIDTH="41" HPOS="94" VPOS="222" ID="st10-51"/><SP/><String HEIGHT="28" CONTENT="can" WIDTH="36" HPOS="140" VPOS="222" ID="st10-52"/><SP/><String HEIGHT="28" CONTENT="expect" WIDTH="70" HPOS="181" VPOS="222" ID="st10-53"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="34" HPOS="256" VPOS="222" ID="st10-54"/></TextLine><TextLine HPOS="295" VPOS="228" ID="tl10-10" WIDTH="27" HEIGHT="14"><String HEIGHT="14" CONTENT="fy" WIDTH="27" HPOS="295" VPOS="228" ID="st10-55"/></TextLine><TextLine HPOS="322" VPOS="222" ID="tl10-11" WIDTH="567" HEIGHT="28"><String HEIGHT="28" CONTENT="-" WIDTH="12" HPOS="322" VPOS="222" ID="st10-56"/><String HEIGHT="28" CONTENT="2009" WIDTH="52" HPOS="334" VPOS="222" ID="st10-57"/><SP/><String HEIGHT="28" CONTENT="budget" WIDTH="78" HPOS="391" VPOS="222" ID="st10-58"/><SP/><String HEIGHT="28" CONTENT="deficit" WIDTH="68" HPOS="474" VPOS="222" ID="st10-59"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="547" VPOS="222" ID="st10-60"/><SP/><String HEIGHT="28" CONTENT="reach" WIDTH="58" HPOS="575" VPOS="222" ID="st10-61"/><SP/><String HEIGHT="28" CONTENT="or" WIDTH="24" HPOS="638" VPOS="222" ID="st10-62"/><SP/><String HEIGHT="28" CONTENT="even" WIDTH="50" HPOS="667" VPOS="222" ID="st10-63"/><SP/><String HEIGHT="28" CONTENT="surpass" WIDTH="79" HPOS="722" VPOS="222" ID="st10-64"/><SP/><String HEIGHT="28" CONTENT="ten" WIDTH="35" HPOS="806" VPOS="222" ID="st10-65"/><SP/><String HEIGHT="28" CONTENT="per" WIDTH="33" HPOS="846" VPOS="222" ID="st10-66" SUBS_TYPE="HypPart1" SUBS_CONTENT="percent"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="222" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="254" ID="tl10-12" WIDTH="82" HEIGHT="28"><String HEIGHT="28" CONTENT="cent" WIDTH="47" HPOS="94" VPOS="254" ID="st10-67" SUBS_TYPE="HypPart2" SUBS_CONTENT="percent"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="24" HPOS="152" VPOS="254" ID="st10-68"/></TextLine><TextLine HPOS="187" VPOS="260" ID="tl10-13" WIDTH="48" HEIGHT="14"><String HEIGHT="14" CONTENT="gdp" WIDTH="48" HPOS="187" VPOS="260" ID="st10-69"/></TextLine><TextLine HPOS="235" VPOS="254" ID="tl10-14" WIDTH="596" HEIGHT="28"><String HEIGHT="28" CONTENT="." WIDTH="7" HPOS="235" VPOS="254" ID="st10-70"/><SP/><String HEIGHT="28" CONTENT="If" WIDTH="19" HPOS="253" VPOS="254" ID="st10-71"/><SP/><String HEIGHT="28" CONTENT="we" WIDTH="33" HPOS="283" VPOS="254" ID="st10-72"/><SP/><String HEIGHT="28" CONTENT="add" WIDTH="41" HPOS="327" VPOS="254" ID="st10-73"/><SP/><String HEIGHT="28" CONTENT="up" WIDTH="30" HPOS="379" VPOS="254" ID="st10-74"/><SP/><String HEIGHT="28" CONTENT="all" WIDTH="26" HPOS="420" VPOS="254" ID="st10-75"/><SP/><String HEIGHT="28" CONTENT="probable" WIDTH="100" HPOS="457" VPOS="254" ID="st10-76"/><SP/><String HEIGHT="28" CONTENT="budget" WIDTH="80" HPOS="568" VPOS="254" ID="st10-77"/><SP/><String HEIGHT="28" CONTENT="deficit" WIDTH="70" HPOS="659" VPOS="254" ID="st10-78"/><SP/><String HEIGHT="28" CONTENT="sources" WIDTH="78" HPOS="741" VPOS="254" ID="st10-79"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="819" VPOS="254" ID="st10-80"/></TextLine><TextLine HPOS="842" VPOS="260" ID="tl10-15" WIDTH="47" HEIGHT="14"><String HEIGHT="14" CONTENT="usd" WIDTH="47" HPOS="842" VPOS="260" ID="st10-81"/></TextLine><TextLine HPOS="94" VPOS="286" ID="tl10-16" WIDTH="384" HEIGHT="28"><String HEIGHT="28" CONTENT="930–50" WIDTH="78" HPOS="94" VPOS="286" ID="st10-82"/><SP/><String HEIGHT="28" CONTENT="billion" WIDTH="72" HPOS="179" VPOS="286" ID="st10-83"/><SP/><String HEIGHT="28" CONTENT="can" WIDTH="37" HPOS="259" VPOS="286" ID="st10-84"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="27" HPOS="303" VPOS="286" ID="st10-85"/><SP/><String HEIGHT="28" CONTENT="added" WIDTH="67" HPOS="337" VPOS="286" ID="st10-86"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="412" VPOS="286" ID="st10-87"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="443" VPOS="286" ID="st10-88"/></TextLine><TextLine HPOS="485" VPOS="292" ID="tl10-17" WIDTH="47" HEIGHT="14"><String HEIGHT="14" CONTENT="usd" WIDTH="47" HPOS="485" VPOS="292" ID="st10-89"/></TextLine><TextLine HPOS="539" VPOS="286" ID="tl10-18" WIDTH="350" HEIGHT="28"><String HEIGHT="28" CONTENT="439" WIDTH="40" HPOS="539" VPOS="286" ID="st10-90"/><SP/><String HEIGHT="28" CONTENT="billion" WIDTH="72" HPOS="587" VPOS="286" ID="st10-91"/><SP/><String HEIGHT="28" CONTENT="planned" WIDTH="89" HPOS="666" VPOS="286" ID="st10-92"/><SP/><String HEIGHT="28" CONTENT="deficit" WIDTH="67" HPOS="762" VPOS="286" ID="st10-93"/><String HEIGHT="28" CONTENT="." WIDTH="10" HPOS="829" VPOS="286" ID="st10-94"/><SP/><String HEIGHT="28" CONTENT="The" WIDTH="43" HPOS="846" VPOS="286" ID="st10-95"/></TextLine><TextLine HPOS="94" VPOS="318" ID="tl10-19" WIDTH="51" HEIGHT="28"><String HEIGHT="28" CONTENT="total" WIDTH="51" HPOS="94" VPOS="318" ID="st10-96"/></TextLine><TextLine HPOS="153" VPOS="324" ID="tl10-20" WIDTH="29" HEIGHT="14"><String HEIGHT="14" CONTENT="us" WIDTH="29" HPOS="153" VPOS="324" ID="st10-97"/></TextLine><TextLine HPOS="190" VPOS="318" ID="tl10-21" WIDTH="109" HEIGHT="28"><String HEIGHT="28" CONTENT="deficit" WIDTH="69" HPOS="190" VPOS="318" ID="st10-98"/><SP/><String HEIGHT="28" CONTENT="for" WIDTH="32" HPOS="267" VPOS="318" ID="st10-99"/></TextLine><TextLine HPOS="307" VPOS="324" ID="tl10-22" WIDTH="27" HEIGHT="14"><String HEIGHT="14" CONTENT="fy" WIDTH="27" HPOS="307" VPOS="324" ID="st10-100"/></TextLine><TextLine HPOS="334" VPOS="318" ID="tl10-23" WIDTH="267" HEIGHT="28"><String HEIGHT="28" CONTENT="-" WIDTH="13" HPOS="334" VPOS="318" ID="st10-101"/><String HEIGHT="28" CONTENT="2009" WIDTH="52" HPOS="347" VPOS="318" ID="st10-102"/><SP/><String HEIGHT="28" CONTENT="could" WIDTH="62" HPOS="407" VPOS="318" ID="st10-103"/><SP/><String HEIGHT="28" CONTENT="well" WIDTH="46" HPOS="477" VPOS="318" ID="st10-104"/><SP/><String HEIGHT="28" CONTENT="rise" WIDTH="38" HPOS="531" VPOS="318" ID="st10-105"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="24" HPOS="577" VPOS="318" ID="st10-106"/></TextLine><TextLine HPOS="608" VPOS="324" ID="tl10-24" WIDTH="47" HEIGHT="14"><String HEIGHT="14" CONTENT="usd" WIDTH="47" HPOS="608" VPOS="324" ID="st10-107"/></TextLine><TextLine HPOS="663" VPOS="318" ID="tl10-25" WIDTH="226" HEIGHT="28"><String HEIGHT="28" CONTENT="1,370–400" WIDTH="114" HPOS="663" VPOS="318" ID="st10-108"/><SP/><String HEIGHT="28" CONTENT="billion" WIDTH="72" HPOS="785" VPOS="318" ID="st10-109"/><SP/><String HEIGHT="28" CONTENT="or" WIDTH="24" HPOS="865" VPOS="318" ID="st10-110"/></TextLine><TextLine HPOS="94" VPOS="350" ID="tl10-26" WIDTH="228" HEIGHT="28"><String HEIGHT="28" CONTENT="close" WIDTH="54" HPOS="94" VPOS="350" ID="st10-111"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="155" VPOS="350" ID="st10-112"/><SP/><String HEIGHT="28" CONTENT="11" WIDTH="19" HPOS="185" VPOS="350" ID="st10-113"/><SP/><String HEIGHT="28" CONTENT="percent" WIDTH="83" HPOS="210" VPOS="350" ID="st10-114"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="299" VPOS="350" ID="st10-115"/></TextLine><TextLine HPOS="329" VPOS="356" ID="tl10-27" WIDTH="47" HEIGHT="14"><String HEIGHT="14" CONTENT="gdp" WIDTH="47" HPOS="329" VPOS="356" ID="st10-116"/></TextLine><TextLine HPOS="376" VPOS="350" ID="tl10-28" WIDTH="8" HEIGHT="28"><String HEIGHT="28" CONTENT="." WIDTH="8" HPOS="376" VPOS="350" ID="st10-117"/></TextLine><TextLine HPOS="129" VPOS="381" ID="tl10-29" WIDTH="70" HEIGHT="29"><String HEIGHT="29" CONTENT="In" WIDTH="26" HPOS="129" VPOS="381" ID="st10-118"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="164" VPOS="381" ID="st10-119"/></TextLine><TextLine HPOS="208" VPOS="388" ID="tl10-30" WIDTH="32" HEIGHT="14"><String HEIGHT="14" CONTENT="eu" WIDTH="32" HPOS="208" VPOS="388" ID="st10-120"/></TextLine><TextLine HPOS="240" VPOS="381" ID="tl10-31" WIDTH="649" HEIGHT="29"><String HEIGHT="29" CONTENT="," WIDTH="7" HPOS="240" VPOS="381" ID="st10-121"/><SP/><String HEIGHT="29" CONTENT="too" WIDTH="34" HPOS="256" VPOS="381" ID="st10-122"/><String HEIGHT="29" CONTENT="," WIDTH="12" HPOS="290" VPOS="381" ID="st10-123"/><SP/><String HEIGHT="29" CONTENT="budget" WIDTH="78" HPOS="311" VPOS="381" ID="st10-124"/><SP/><String HEIGHT="29" CONTENT="deficits" WIDTH="79" HPOS="399" VPOS="381" ID="st10-125"/><SP/><String HEIGHT="29" CONTENT="will" WIDTH="41" HPOS="487" VPOS="381" ID="st10-126"/><SP/><String HEIGHT="29" CONTENT="increase" WIDTH="88" HPOS="537" VPOS="381" ID="st10-127"/><SP/><String HEIGHT="29" CONTENT="significantly" WIDTH="134" HPOS="634" VPOS="381" ID="st10-128"/><SP/><String HEIGHT="29" CONTENT="through" WIDTH="91" HPOS="777" VPOS="381" ID="st10-129"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="11" HPOS="878" VPOS="381" ID="st10-130"/></TextLine><TextLine HPOS="94" VPOS="413" ID="tl10-32" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="combination" WIDTH="142" HPOS="94" VPOS="413" ID="st10-131"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="245" VPOS="413" ID="st10-132"/><SP/><String HEIGHT="29" CONTENT="government" WIDTH="135" HPOS="277" VPOS="413" ID="st10-133"/><SP/><String HEIGHT="29" CONTENT="support" WIDTH="86" HPOS="422" VPOS="413" ID="st10-134"/><SP/><String HEIGHT="29" CONTENT="for" WIDTH="32" HPOS="518" VPOS="413" ID="st10-135"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="560" VPOS="413" ID="st10-136"/><SP/><String HEIGHT="29" CONTENT="embattled" WIDTH="111" HPOS="604" VPOS="413" ID="st10-137"/><SP/><String HEIGHT="29" CONTENT="banking" WIDTH="90" HPOS="724" VPOS="413" ID="st10-138"/><SP/><String HEIGHT="29" CONTENT="sector" WIDTH="65" HPOS="824" VPOS="413" ID="st10-139"/></TextLine><TextLine HPOS="94" VPOS="445" ID="tl10-33" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="and" WIDTH="40" HPOS="94" VPOS="445" ID="st10-140"/><SP/><String HEIGHT="29" CONTENT="activity" WIDTH="86" HPOS="139" VPOS="445" ID="st10-141"/><String HEIGHT="29" CONTENT="-" WIDTH="11" HPOS="225" VPOS="445" ID="st10-142"/><String HEIGHT="29" CONTENT="boosting" WIDTH="87" HPOS="236" VPOS="445" ID="st10-143"/><SP/><String HEIGHT="29" CONTENT="measures" WIDTH="95" HPOS="328" VPOS="445" ID="st10-144"/><String HEIGHT="29" CONTENT="." WIDTH="12" HPOS="423" VPOS="445" ID="st10-145"/><SP/><String HEIGHT="29" CONTENT="By" WIDTH="28" HPOS="440" VPOS="445" ID="st10-146"/><SP/><String HEIGHT="29" CONTENT="early" WIDTH="52" HPOS="473" VPOS="445" ID="st10-147"/><SP/><String HEIGHT="29" CONTENT="November" WIDTH="118" HPOS="530" VPOS="445" ID="st10-148"/><SP/><String HEIGHT="29" CONTENT="2008" WIDTH="55" HPOS="653" VPOS="445" ID="st10-149"/><SP/><String HEIGHT="29" CONTENT="there" WIDTH="55" HPOS="713" VPOS="445" ID="st10-150"/><SP/><String HEIGHT="29" CONTENT="was" WIDTH="41" HPOS="773" VPOS="445" ID="st10-151"/><SP/><String HEIGHT="29" CONTENT="strong" WIDTH="70" HPOS="819" VPOS="445" ID="st10-152"/></TextLine><TextLine HPOS="94" VPOS="477" ID="tl10-34" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="opposition" WIDTH="118" HPOS="94" VPOS="477" ID="st10-153"/><String HEIGHT="29" CONTENT="," WIDTH="12" HPOS="212" VPOS="477" ID="st10-154"/><SP/><String HEIGHT="29" CONTENT="led" WIDTH="34" HPOS="235" VPOS="477" ID="st10-155"/><SP/><String HEIGHT="29" CONTENT="by" WIDTH="28" HPOS="279" VPOS="477" ID="st10-156"/><SP/><String HEIGHT="29" CONTENT="Germany" WIDTH="105" HPOS="317" VPOS="477" ID="st10-157"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="42" HPOS="432" VPOS="477" ID="st10-158"/><SP/><String HEIGHT="29" CONTENT="Luxemburg" WIDTH="126" HPOS="484" VPOS="477" ID="st10-159"/><String HEIGHT="29" CONTENT="," WIDTH="14" HPOS="610" VPOS="477" ID="st10-160"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="24" HPOS="635" VPOS="477" ID="st10-161"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="12" HPOS="669" VPOS="477" ID="st10-162"/><SP/><String HEIGHT="29" CONTENT="coordinated" WIDTH="136" HPOS="691" VPOS="477" ID="st10-163"/><SP/><String HEIGHT="29" CONTENT="anti" WIDTH="42" HPOS="837" VPOS="477" ID="st10-164" SUBS_TYPE="HypPart1" SUBS_CONTENT="antirecession"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="477" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="509" ID="tl10-35" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="recession" WIDTH="100" HPOS="94" VPOS="509" ID="st10-165" SUBS_TYPE="HypPart2" SUBS_CONTENT="antirecession"/><SP/><String HEIGHT="29" CONTENT="plan" WIDTH="47" HPOS="200" VPOS="509" ID="st10-166"/><SP/><String HEIGHT="29" CONTENT="at" WIDTH="20" HPOS="253" VPOS="509" ID="st10-167"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="278" VPOS="509" ID="st10-168"/><SP/><String HEIGHT="29" CONTENT="Eurozone" WIDTH="110" HPOS="318" VPOS="509" ID="st10-169"/><SP/><String HEIGHT="29" CONTENT="level" WIDTH="47" HPOS="433" VPOS="509" ID="st10-170"/><String HEIGHT="29" CONTENT="." WIDTH="10" HPOS="480" VPOS="509" ID="st10-171"/><SP/><String HEIGHT="29" CONTENT="This" WIDTH="49" HPOS="495" VPOS="509" ID="st10-172"/><SP/><String HEIGHT="29" CONTENT="will" WIDTH="41" HPOS="549" VPOS="509" ID="st10-173"/><SP/><String HEIGHT="29" CONTENT="have" WIDTH="51" HPOS="595" VPOS="509" ID="st10-174"/><SP/><String HEIGHT="29" CONTENT="very" WIDTH="46" HPOS="651" VPOS="509" ID="st10-175"/><SP/><String HEIGHT="29" CONTENT="unfortunate" WIDTH="133" HPOS="702" VPOS="509" ID="st10-176"/><SP/><String HEIGHT="29" CONTENT="con" WIDTH="37" HPOS="840" VPOS="509" ID="st10-177" SUBS_TYPE="HypPart1" SUBS_CONTENT="consequences"/><HYP CONTENT="-" WIDTH="12" HPOS="877" VPOS="509" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="541" ID="tl10-36" WIDTH="117" HEIGHT="28"><String HEIGHT="28" CONTENT="sequences" WIDTH="105" HPOS="94" VPOS="541" ID="st10-178" SUBS_TYPE="HypPart2" SUBS_CONTENT="consequences"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="199" VPOS="541" ID="st10-179"/></TextLine><TextLine HPOS="129" VPOS="573" ID="tl10-37" WIDTH="760" HEIGHT="28"><String HEIGHT="28" CONTENT="Budget" WIDTH="81" HPOS="129" VPOS="573" ID="st10-180"/><SP/><String HEIGHT="28" CONTENT="deficits" WIDTH="79" HPOS="218" VPOS="573" ID="st10-181"/><SP/><String HEIGHT="28" CONTENT="will" WIDTH="41" HPOS="304" VPOS="573" ID="st10-182"/><SP/><String HEIGHT="28" CONTENT="not" WIDTH="38" HPOS="353" VPOS="573" ID="st10-183"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="399" VPOS="573" ID="st10-184"/><SP/><String HEIGHT="28" CONTENT="confined" WIDTH="97" HPOS="433" VPOS="573" ID="st10-185"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="24" HPOS="537" VPOS="573" ID="st10-186"/><SP/><String HEIGHT="28" CONTENT="2009" WIDTH="51" HPOS="569" VPOS="573" ID="st10-187"/><String HEIGHT="28" CONTENT="," WIDTH="13" HPOS="620" VPOS="573" ID="st10-188"/><SP/><String HEIGHT="28" CONTENT="however" WIDTH="87" HPOS="640" VPOS="573" ID="st10-189"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="727" VPOS="573" ID="st10-190"/><SP/><String HEIGHT="28" CONTENT="As" WIDTH="29" HPOS="747" VPOS="573" ID="st10-191"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="783" VPOS="573" ID="st10-192"/><SP/><String HEIGHT="28" CONTENT="credit" WIDTH="63" HPOS="826" VPOS="573" ID="st10-193"/></TextLine><TextLine HPOS="94" VPOS="605" ID="tl10-38" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="expansion" WIDTH="111" HPOS="94" VPOS="605" ID="st10-194"/><SP/><String HEIGHT="28" CONTENT="mechanism" WIDTH="126" HPOS="212" VPOS="605" ID="st10-195"/><SP/><String HEIGHT="28" CONTENT="looks" WIDTH="59" HPOS="345" VPOS="605" ID="st10-196"/><SP/><String HEIGHT="28" CONTENT="disabled" WIDTH="91" HPOS="411" VPOS="605" ID="st10-197"/><SP/><String HEIGHT="28" CONTENT="for" WIDTH="32" HPOS="509" VPOS="605" ID="st10-198"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="548" VPOS="605" ID="st10-199"/><SP/><String HEIGHT="28" CONTENT="foreseeable" WIDTH="122" HPOS="591" VPOS="605" ID="st10-200"/><SP/><String HEIGHT="28" CONTENT="future" WIDTH="68" HPOS="720" VPOS="605" ID="st10-201"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="795" VPOS="605" ID="st10-202"/><SP/><String HEIGHT="28" CONTENT="eco" WIDTH="35" HPOS="843" VPOS="605" ID="st10-203" SUBS_TYPE="HypPart1" SUBS_CONTENT="economic"/><HYP CONTENT="-" WIDTH="11" HPOS="878" VPOS="605" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="637" ID="tl10-39" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="nomic" WIDTH="69" HPOS="94" VPOS="637" ID="st10-204" SUBS_TYPE="HypPart2" SUBS_CONTENT="economic"/><SP/><String HEIGHT="28" CONTENT="activity" WIDTH="78" HPOS="168" VPOS="637" ID="st10-205"/><SP/><String HEIGHT="28" CONTENT="will" WIDTH="40" HPOS="251" VPOS="637" ID="st10-206"/><SP/><String HEIGHT="28" CONTENT="remain" WIDTH="76" HPOS="296" VPOS="637" ID="st10-207"/><SP/><String HEIGHT="28" CONTENT="depressed" WIDTH="107" HPOS="377" VPOS="637" ID="st10-208"/><SP/><String HEIGHT="28" CONTENT="for" WIDTH="32" HPOS="489" VPOS="637" ID="st10-209"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="526" VPOS="637" ID="st10-210"/><SP/><String HEIGHT="28" CONTENT="significant" WIDTH="113" HPOS="542" VPOS="637" ID="st10-211"/><SP/><String HEIGHT="28" CONTENT="period" WIDTH="66" HPOS="660" VPOS="637" ID="st10-212"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="726" VPOS="637" ID="st10-213"/><SP/><String HEIGHT="28" CONTENT="public" WIDTH="68" HPOS="743" VPOS="637" ID="st10-214"/><SP/><String HEIGHT="28" CONTENT="spend" WIDTH="61" HPOS="816" VPOS="637" ID="st10-215" SUBS_TYPE="HypPart1" SUBS_CONTENT="spending"/><HYP CONTENT="-" WIDTH="12" HPOS="877" VPOS="637" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="669" ID="tl10-40" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="ing" WIDTH="36" HPOS="94" VPOS="669" ID="st10-216" SUBS_TYPE="HypPart2" SUBS_CONTENT="spending"/><SP/><String HEIGHT="28" CONTENT="will" WIDTH="41" HPOS="135" VPOS="669" ID="st10-217"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="181" VPOS="669" ID="st10-218"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="212" VPOS="669" ID="st10-219"/><SP/><String HEIGHT="28" CONTENT="only" WIDTH="49" HPOS="252" VPOS="669" ID="st10-220"/><SP/><String HEIGHT="28" CONTENT="way" WIDTH="44" HPOS="306" VPOS="669" ID="st10-221"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="355" VPOS="669" ID="st10-222"/><SP/><String HEIGHT="28" CONTENT="avoiding" WIDTH="97" HPOS="383" VPOS="669" ID="st10-223"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="485" VPOS="669" ID="st10-224"/><SP/><String HEIGHT="28" CONTENT="current" WIDTH="81" HPOS="525" VPOS="669" ID="st10-225"/><SP/><String HEIGHT="28" CONTENT="recession" WIDTH="100" HPOS="611" VPOS="669" ID="st10-226"/><SP/><String HEIGHT="28" CONTENT="developing" WIDTH="123" HPOS="716" VPOS="669" ID="st10-227"/><SP/><String HEIGHT="28" CONTENT="into" WIDTH="45" HPOS="844" VPOS="669" ID="st10-228"/></TextLine><TextLine HPOS="94" VPOS="701" ID="tl10-41" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="94" VPOS="701" ID="st10-229"/><SP/><String HEIGHT="28" CONTENT="full" WIDTH="42" HPOS="112" VPOS="701" ID="st10-230"/><String HEIGHT="28" CONTENT="-" WIDTH="10" HPOS="154" VPOS="701" ID="st10-231"/><String HEIGHT="28" CONTENT="fledged" WIDTH="75" HPOS="164" VPOS="701" ID="st10-232"/><SP/><String HEIGHT="28" CONTENT="depression" WIDTH="114" HPOS="244" VPOS="701" ID="st10-233"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="358" VPOS="701" ID="st10-234"/><SP/><String HEIGHT="28" CONTENT="A" WIDTH="18" HPOS="376" VPOS="701" ID="st10-235"/><SP/><String HEIGHT="28" CONTENT="quick" WIDTH="60" HPOS="400" VPOS="701" ID="st10-236"/><SP/><String HEIGHT="28" CONTENT="estimate" WIDTH="92" HPOS="466" VPOS="701" ID="st10-237"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="564" VPOS="701" ID="st10-238"/><SP/><String HEIGHT="28" CONTENT="financing" WIDTH="103" HPOS="593" VPOS="701" ID="st10-239"/><SP/><String HEIGHT="28" CONTENT="needs" WIDTH="63" HPOS="702" VPOS="701" ID="st10-240"/><SP/><String HEIGHT="28" CONTENT="shows" WIDTH="69" HPOS="771" VPOS="701" ID="st10-241"/><SP/><String HEIGHT="28" CONTENT="that" WIDTH="43" HPOS="846" VPOS="701" ID="st10-242"/></TextLine><TextLine HPOS="94" VPOS="733" ID="tl10-42" WIDTH="35" HEIGHT="28"><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="94" VPOS="733" ID="st10-243"/></TextLine><TextLine HPOS="134" VPOS="739" ID="tl10-43" WIDTH="29" HEIGHT="14"><String HEIGHT="14" CONTENT="us" WIDTH="29" HPOS="134" VPOS="739" ID="st10-244"/></TextLine><TextLine HPOS="168" VPOS="733" ID="tl10-44" WIDTH="721" HEIGHT="28"><String HEIGHT="28" CONTENT="public" WIDTH="68" HPOS="168" VPOS="733" ID="st10-245"/><SP/><String HEIGHT="28" CONTENT="sector" WIDTH="65" HPOS="241" VPOS="733" ID="st10-246"/><SP/><String HEIGHT="28" CONTENT="would" WIDTH="70" HPOS="311" VPOS="733" ID="st10-247"/><SP/><String HEIGHT="28" CONTENT="need" WIDTH="52" HPOS="386" VPOS="733" ID="st10-248"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="24" HPOS="443" VPOS="733" ID="st10-249"/><SP/><String HEIGHT="28" CONTENT="borrow" WIDTH="82" HPOS="472" VPOS="733" ID="st10-250"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="559" VPOS="733" ID="st10-251"/><SP/><String HEIGHT="28" CONTENT="fund" WIDTH="52" HPOS="587" VPOS="733" ID="st10-252"/><SP/><String HEIGHT="28" CONTENT="all" WIDTH="25" HPOS="644" VPOS="733" ID="st10-253"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="58" HPOS="674" VPOS="733" ID="st10-254"/><String HEIGHT="28" CONTENT="-" WIDTH="10" HPOS="732" VPOS="733" ID="st10-255"/><String HEIGHT="28" CONTENT="related" WIDTH="69" HPOS="742" VPOS="733" ID="st10-256"/><SP/><String HEIGHT="28" CONTENT="spend" WIDTH="61" HPOS="816" VPOS="733" ID="st10-257" SUBS_TYPE="HypPart1" SUBS_CONTENT="spending"/><HYP CONTENT="-" WIDTH="12" HPOS="877" VPOS="733" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="765" ID="tl10-45" WIDTH="360" HEIGHT="28"><String HEIGHT="28" CONTENT="ing" WIDTH="36" HPOS="94" VPOS="765" ID="st10-258" SUBS_TYPE="HypPart2" SUBS_CONTENT="spending"/><SP/><String HEIGHT="28" CONTENT="between" WIDTH="92" HPOS="136" VPOS="765" ID="st10-259"/><SP/><String HEIGHT="28" CONTENT="20" WIDTH="28" HPOS="234" VPOS="765" ID="st10-260"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="268" VPOS="765" ID="st10-261"/><SP/><String HEIGHT="28" CONTENT="25" WIDTH="22" HPOS="315" VPOS="765" ID="st10-262"/><SP/><String HEIGHT="28" CONTENT="percent" WIDTH="82" HPOS="343" VPOS="765" ID="st10-263"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="431" VPOS="765" ID="st10-264"/></TextLine><TextLine HPOS="460" VPOS="771" ID="tl10-46" WIDTH="48" HEIGHT="14"><String HEIGHT="14" CONTENT="gdp" WIDTH="48" HPOS="460" VPOS="771" ID="st10-265"/></TextLine><TextLine HPOS="514" VPOS="765" ID="tl10-47" WIDTH="375" HEIGHT="28"><String HEIGHT="28" CONTENT="until" WIDTH="52" HPOS="514" VPOS="765" ID="st10-266"/><SP/><String HEIGHT="28" CONTENT="2011" WIDTH="43" HPOS="572" VPOS="765" ID="st10-267"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="615" VPOS="765" ID="st10-268"/><SP/><String HEIGHT="28" CONTENT="In" WIDTH="25" HPOS="632" VPOS="765" ID="st10-269"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="663" VPOS="765" ID="st10-270"/><SP/><String HEIGHT="28" CONTENT="Eurozone" WIDTH="109" HPOS="705" VPOS="765" ID="st10-271"/><SP/><String HEIGHT="28" CONTENT="public" WIDTH="69" HPOS="820" VPOS="765" ID="st10-272"/></TextLine><TextLine HPOS="94" VPOS="797" ID="tl10-48" WIDTH="668" HEIGHT="28"><String HEIGHT="28" CONTENT="sector" WIDTH="66" HPOS="94" VPOS="797" ID="st10-273"/><SP/><String HEIGHT="28" CONTENT="borrowing" WIDTH="119" HPOS="167" VPOS="797" ID="st10-274"/><SP/><String HEIGHT="28" CONTENT="needs" WIDTH="62" HPOS="294" VPOS="797" ID="st10-275"/><SP/><String HEIGHT="28" CONTENT="will" WIDTH="41" HPOS="364" VPOS="797" ID="st10-276"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="412" VPOS="797" ID="st10-277"/><SP/><String HEIGHT="28" CONTENT="between" WIDTH="92" HPOS="446" VPOS="797" ID="st10-278"/><SP/><String HEIGHT="28" CONTENT="12" WIDTH="22" HPOS="545" VPOS="797" ID="st10-279"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="575" VPOS="797" ID="st10-280"/><SP/><String HEIGHT="28" CONTENT="15" WIDTH="19" HPOS="623" VPOS="797" ID="st10-281"/><SP/><String HEIGHT="28" CONTENT="percent" WIDTH="83" HPOS="649" VPOS="797" ID="st10-282"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="739" VPOS="797" ID="st10-283"/></TextLine><TextLine HPOS="769" VPOS="803" ID="tl10-49" WIDTH="48" HEIGHT="14"><String HEIGHT="14" CONTENT="gdp" WIDTH="48" HPOS="769" VPOS="803" ID="st10-284"/></TextLine><TextLine HPOS="817" VPOS="797" ID="tl10-50" WIDTH="72" HEIGHT="28"><String HEIGHT="28" CONTENT="." WIDTH="7" HPOS="817" VPOS="797" ID="st10-285"/><SP/><String HEIGHT="28" CONTENT="If" WIDTH="18" HPOS="832" VPOS="797" ID="st10-286"/><SP/><String HEIGHT="28" CONTENT="we" WIDTH="31" HPOS="858" VPOS="797" ID="st10-287"/></TextLine><TextLine HPOS="94" VPOS="829" ID="tl10-51" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="add" WIDTH="41" HPOS="94" VPOS="829" ID="st10-288"/><SP/><String HEIGHT="28" CONTENT="non" WIDTH="34" HPOS="145" VPOS="829" ID="st10-289"/><String HEIGHT="28" CONTENT="-" WIDTH="11" HPOS="179" VPOS="829" ID="st10-290"/><String HEIGHT="28" CONTENT="financial" WIDTH="103" HPOS="190" VPOS="829" ID="st10-291"/><SP/><String HEIGHT="28" CONTENT="enterprises" WIDTH="116" HPOS="302" VPOS="829" ID="st10-292"/><String HEIGHT="28" CONTENT="’" WIDTH="11" HPOS="418" VPOS="829" ID="st10-293"/><SP/><String HEIGHT="28" CONTENT="borrowing" WIDTH="121" HPOS="438" VPOS="829" ID="st10-294"/><SP/><String HEIGHT="28" CONTENT="needs" WIDTH="59" HPOS="568" VPOS="829" ID="st10-295"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="627" VPOS="829" ID="st10-296"/><SP/><String HEIGHT="28" CONTENT="we" WIDTH="32" HPOS="649" VPOS="829" ID="st10-297"/><SP/><String HEIGHT="28" CONTENT="could" WIDTH="63" HPOS="690" VPOS="829" ID="st10-298"/><SP/><String HEIGHT="28" CONTENT="reach" WIDTH="60" HPOS="762" VPOS="829" ID="st10-299"/><SP/><String HEIGHT="28" CONTENT="28" WIDTH="25" HPOS="831" VPOS="829" ID="st10-300"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="24" HPOS="865" VPOS="829" ID="st10-301"/></TextLine><TextLine HPOS="94" VPOS="861" ID="tl10-52" WIDTH="137" HEIGHT="28"><String HEIGHT="28" CONTENT="35" WIDTH="20" HPOS="94" VPOS="861" ID="st10-302"/><SP/><String HEIGHT="28" CONTENT="percent" WIDTH="82" HPOS="120" VPOS="861" ID="st10-303"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="208" VPOS="861" ID="st10-304"/></TextLine><TextLine HPOS="237" VPOS="867" ID="tl10-53" WIDTH="47" HEIGHT="14"><String HEIGHT="14" CONTENT="gdp" WIDTH="47" HPOS="237" VPOS="867" ID="st10-305"/></TextLine><TextLine HPOS="290" VPOS="861" ID="tl10-54" WIDTH="74" HEIGHT="28"><String HEIGHT="28" CONTENT="for" WIDTH="33" HPOS="290" VPOS="861" ID="st10-306"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="329" VPOS="861" ID="st10-307"/></TextLine><TextLine HPOS="370" VPOS="867" ID="tl10-55" WIDTH="29" HEIGHT="14"><String HEIGHT="14" CONTENT="us" WIDTH="29" HPOS="370" VPOS="867" ID="st10-308"/></TextLine><TextLine HPOS="405" VPOS="861" ID="tl10-56" WIDTH="352" HEIGHT="28"><String HEIGHT="28" CONTENT="economy" WIDTH="102" HPOS="405" VPOS="861" ID="st10-309"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="40" HPOS="513" VPOS="861" ID="st10-310"/><SP/><String HEIGHT="28" CONTENT="16" WIDTH="24" HPOS="559" VPOS="861" ID="st10-311"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="24" HPOS="588" VPOS="861" ID="st10-312"/><SP/><String HEIGHT="28" CONTENT="21" WIDTH="22" HPOS="618" VPOS="861" ID="st10-313"/><SP/><String HEIGHT="28" CONTENT="percent" WIDTH="83" HPOS="645" VPOS="861" ID="st10-314"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="734" VPOS="861" ID="st10-315"/></TextLine><TextLine HPOS="762" VPOS="867" ID="tl10-57" WIDTH="48" HEIGHT="14"><String HEIGHT="14" CONTENT="gdp" WIDTH="48" HPOS="762" VPOS="867" ID="st10-316"/></TextLine><TextLine HPOS="816" VPOS="861" ID="tl10-58" WIDTH="73" HEIGHT="28"><String HEIGHT="28" CONTENT="for" WIDTH="32" HPOS="816" VPOS="861" ID="st10-317"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="854" VPOS="861" ID="st10-318"/></TextLine><TextLine HPOS="94" VPOS="893" ID="tl10-59" WIDTH="117" HEIGHT="28"><String HEIGHT="28" CONTENT="Eurozone" WIDTH="104" HPOS="94" VPOS="893" ID="st10-319"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="198" VPOS="893" ID="st10-320"/></TextLine><TextLine HPOS="129" VPOS="925" ID="tl10-60" WIDTH="760" HEIGHT="28"><String HEIGHT="28" CONTENT="By" WIDTH="30" HPOS="129" VPOS="925" ID="st10-321"/><SP/><String HEIGHT="28" CONTENT="any" WIDTH="39" HPOS="167" VPOS="925" ID="st10-322"/><SP/><String HEIGHT="28" CONTENT="standards" WIDTH="105" HPOS="215" VPOS="925" ID="st10-323"/><SP/><String HEIGHT="28" CONTENT="this" WIDTH="40" HPOS="329" VPOS="925" ID="st10-324"/><SP/><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="378" VPOS="925" ID="st10-325"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="404" VPOS="925" ID="st10-326"/><SP/><String HEIGHT="28" CONTENT="massive" WIDTH="85" HPOS="424" VPOS="925" ID="st10-327"/><SP/><String HEIGHT="28" CONTENT="increase" WIDTH="88" HPOS="518" VPOS="925" ID="st10-328"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="21" HPOS="615" VPOS="925" ID="st10-329"/><SP/><String HEIGHT="28" CONTENT="total" WIDTH="51" HPOS="645" VPOS="925" ID="st10-330"/><SP/><String HEIGHT="28" CONTENT="debt" WIDTH="45" HPOS="705" VPOS="925" ID="st10-331"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="750" VPOS="925" ID="st10-332"/><SP/><String HEIGHT="28" CONTENT="As" WIDTH="28" HPOS="770" VPOS="925" ID="st10-333"/><SP/><String HEIGHT="28" CONTENT="interest" WIDTH="82" HPOS="807" VPOS="925" ID="st10-334"/></TextLine><TextLine HPOS="94" VPOS="956" ID="tl10-61" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="rates" WIDTH="51" HPOS="94" VPOS="956" ID="st10-335"/><SP/><String HEIGHT="29" CONTENT="will" WIDTH="41" HPOS="153" VPOS="956" ID="st10-336"/><SP/><String HEIGHT="29" CONTENT="not" WIDTH="39" HPOS="202" VPOS="956" ID="st10-337"/><SP/><String HEIGHT="29" CONTENT="be" WIDTH="26" HPOS="249" VPOS="956" ID="st10-338"/><SP/><String HEIGHT="29" CONTENT="increased" WIDTH="102" HPOS="283" VPOS="956" ID="st10-339"/><SP/><String HEIGHT="29" CONTENT="–" WIDTH="13" HPOS="394" VPOS="956" ID="st10-340"/><SP/><String HEIGHT="29" CONTENT="this" WIDTH="40" HPOS="415" VPOS="956" ID="st10-341"/><SP/><String HEIGHT="29" CONTENT="would" WIDTH="71" HPOS="463" VPOS="956" ID="st10-342"/><SP/><String HEIGHT="29" CONTENT="risk" WIDTH="40" HPOS="542" VPOS="956" ID="st10-343"/><SP/><String HEIGHT="29" CONTENT="killing" WIDTH="70" HPOS="590" VPOS="956" ID="st10-344"/><SP/><String HEIGHT="29" CONTENT="off" WIDTH="31" HPOS="668" VPOS="956" ID="st10-345"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="708" VPOS="956" ID="st10-346"/><SP/><String HEIGHT="29" CONTENT="banking" WIDTH="90" HPOS="751" VPOS="956" ID="st10-347"/><SP/><String HEIGHT="29" CONTENT="sec" WIDTH="30" HPOS="849" VPOS="956" ID="st10-348" SUBS_TYPE="HypPart1" SUBS_CONTENT="sector"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="956" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="988" ID="tl10-62" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="tor" WIDTH="33" HPOS="94" VPOS="988" ID="st10-349" SUBS_TYPE="HypPart2" SUBS_CONTENT="sector"/><SP/><String HEIGHT="29" CONTENT="–" WIDTH="13" HPOS="132" VPOS="988" ID="st10-350"/><SP/><String HEIGHT="29" CONTENT="funding" WIDTH="88" HPOS="151" VPOS="988" ID="st10-351"/><SP/><String HEIGHT="29" CONTENT="such" WIDTH="50" HPOS="244" VPOS="988" ID="st10-352"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="12" HPOS="299" VPOS="988" ID="st10-353"/><SP/><String HEIGHT="29" CONTENT="debt" WIDTH="50" HPOS="316" VPOS="988" ID="st10-354"/><SP/><String HEIGHT="29" CONTENT="increase" WIDTH="87" HPOS="371" VPOS="988" ID="st10-355"/><SP/><String HEIGHT="29" CONTENT="will" WIDTH="41" HPOS="463" VPOS="988" ID="st10-356"/><SP/><String HEIGHT="29" CONTENT="be" WIDTH="27" HPOS="509" VPOS="988" ID="st10-357"/><SP/><String HEIGHT="29" CONTENT="impossible" WIDTH="118" HPOS="541" VPOS="988" ID="st10-358"/><SP/><String HEIGHT="29" CONTENT="without" WIDTH="89" HPOS="664" VPOS="988" ID="st10-359"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="12" HPOS="758" VPOS="988" ID="st10-360"/><SP/><String HEIGHT="29" CONTENT="significant" WIDTH="114" HPOS="775" VPOS="988" ID="st10-361"/></TextLine><TextLine HPOS="94" VPOS="1020" ID="tl10-63" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="increase" WIDTH="88" HPOS="94" VPOS="1020" ID="st10-362"/><SP/><String HEIGHT="29" CONTENT="in" WIDTH="22" HPOS="187" VPOS="1020" ID="st10-363"/><SP/><String HEIGHT="29" CONTENT="inflation" WIDTH="90" HPOS="214" VPOS="1020" ID="st10-364"/><String HEIGHT="29" CONTENT="." WIDTH="11" HPOS="304" VPOS="1020" ID="st10-365"/><SP/><String HEIGHT="29" CONTENT="This" WIDTH="44" HPOS="320" VPOS="1020" ID="st10-366"/><String HEIGHT="29" CONTENT="," WIDTH="12" HPOS="364" VPOS="1020" ID="st10-367"/><SP/><String HEIGHT="29" CONTENT="combined" WIDTH="112" HPOS="381" VPOS="1020" ID="st10-368"/><SP/><String HEIGHT="29" CONTENT="with" WIDTH="50" HPOS="498" VPOS="1020" ID="st10-369"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="554" VPOS="1020" ID="st10-370"/><SP/><String HEIGHT="29" CONTENT="strong" WIDTH="71" HPOS="594" VPOS="1020" ID="st10-371"/><SP/><String HEIGHT="29" CONTENT="asymmetry" WIDTH="121" HPOS="671" VPOS="1020" ID="st10-372"/><SP/><String HEIGHT="29" CONTENT="between" WIDTH="92" HPOS="797" VPOS="1020" ID="st10-373"/></TextLine><TextLine HPOS="94" VPOS="1052" ID="tl10-64" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="countries" WIDTH="97" HPOS="94" VPOS="1052" ID="st10-374"/><String HEIGHT="29" CONTENT="’" WIDTH="11" HPOS="191" VPOS="1052" ID="st10-375"/><SP/><String HEIGHT="29" CONTENT="borrowing" WIDTH="119" HPOS="210" VPOS="1052" ID="st10-376"/><SP/><String HEIGHT="29" CONTENT="needs" WIDTH="58" HPOS="336" VPOS="1052" ID="st10-377"/><String HEIGHT="29" CONTENT="," WIDTH="12" HPOS="394" VPOS="1052" ID="st10-378"/><SP/><String HEIGHT="29" CONTENT="will" WIDTH="41" HPOS="414" VPOS="1052" ID="st10-379"/><SP/><String HEIGHT="29" CONTENT="induce" WIDTH="74" HPOS="462" VPOS="1052" ID="st10-380"/><SP/><String HEIGHT="29" CONTENT="wild" WIDTH="49" HPOS="544" VPOS="1052" ID="st10-381"/><SP/><String HEIGHT="29" CONTENT="exchange" WIDTH="102" HPOS="600" VPOS="1052" ID="st10-382"/><SP/><String HEIGHT="29" CONTENT="rate" WIDTH="42" HPOS="709" VPOS="1052" ID="st10-383"/><SP/><String HEIGHT="29" CONTENT="fluctuations" WIDTH="131" HPOS="758" VPOS="1052" ID="st10-384"/></TextLine><TextLine HPOS="94" VPOS="1084" ID="tl10-65" WIDTH="410" HEIGHT="29"><String HEIGHT="29" CONTENT="in" WIDTH="22" HPOS="94" VPOS="1084" ID="st10-385"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="123" VPOS="1084" ID="st10-386"/><SP/><String HEIGHT="29" CONTENT="next" WIDTH="47" HPOS="166" VPOS="1084" ID="st10-387"/><SP/><String HEIGHT="29" CONTENT="24" WIDTH="27" HPOS="221" VPOS="1084" ID="st10-388"/><SP/><String HEIGHT="29" CONTENT="months" WIDTH="78" HPOS="256" VPOS="1084" ID="st10-389"/><String HEIGHT="29" CONTENT="." WIDTH="14" HPOS="334" VPOS="1084" ID="st10-390"/><SP/><String HEIGHT="29" CONTENT="Although" WIDTH="106" HPOS="355" VPOS="1084" ID="st10-391"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="469" VPOS="1084" ID="st10-392"/></TextLine><TextLine HPOS="511" VPOS="1091" ID="tl10-66" WIDTH="30" HEIGHT="14"><String HEIGHT="14" CONTENT="us" WIDTH="30" HPOS="511" VPOS="1091" ID="st10-393"/></TextLine><TextLine HPOS="548" VPOS="1084" ID="tl10-67" WIDTH="341" HEIGHT="29"><String HEIGHT="29" CONTENT="dollar" WIDTH="64" HPOS="548" VPOS="1084" ID="st10-394"/><SP/><String HEIGHT="29" CONTENT="improved" WIDTH="107" HPOS="620" VPOS="1084" ID="st10-395"/><SP/><String HEIGHT="29" CONTENT="its" WIDTH="26" HPOS="735" VPOS="1084" ID="st10-396"/><SP/><String HEIGHT="29" CONTENT="position" WIDTH="92" HPOS="768" VPOS="1084" ID="st10-397"/><SP/><String HEIGHT="29" CONTENT="in" WIDTH="22" HPOS="867" VPOS="1084" ID="st10-398"/></TextLine><TextLine HPOS="94" VPOS="1116" ID="tl10-68" WIDTH="572" HEIGHT="28"><String HEIGHT="28" CONTENT="relation" WIDTH="85" HPOS="94" VPOS="1116" ID="st10-399"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="24" HPOS="185" VPOS="1116" ID="st10-400"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="215" VPOS="1116" ID="st10-401"/><SP/><String HEIGHT="28" CONTENT="euro" WIDTH="51" HPOS="256" VPOS="1116" ID="st10-402"/><SP/><String HEIGHT="28" CONTENT="during" WIDTH="75" HPOS="313" VPOS="1116" ID="st10-403"/><SP/><String HEIGHT="28" CONTENT="summer" WIDTH="91" HPOS="393" VPOS="1116" ID="st10-404"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="490" VPOS="1116" ID="st10-405"/><SP/><String HEIGHT="28" CONTENT="fall" WIDTH="33" HPOS="537" VPOS="1116" ID="st10-406"/><SP/><String HEIGHT="28" CONTENT="2008" WIDTH="50" HPOS="576" VPOS="1116" ID="st10-407"/><String HEIGHT="28" CONTENT="," WIDTH="13" HPOS="626" VPOS="1116" ID="st10-408"/><SP/><String HEIGHT="28" CONTENT="as" WIDTH="21" HPOS="645" VPOS="1116" ID="st10-409"/></TextLine><TextLine HPOS="672" VPOS="1122" ID="tl10-69" WIDTH="29" HEIGHT="15"><String HEIGHT="15" CONTENT="us" WIDTH="29" HPOS="672" VPOS="1122" ID="st10-410"/></TextLine><TextLine HPOS="707" VPOS="1116" ID="tl10-70" WIDTH="182" HEIGHT="28"><String HEIGHT="28" CONTENT="banks" WIDTH="59" HPOS="707" VPOS="1116" ID="st10-411"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="766" VPOS="1116" ID="st10-412"/><SP/><String HEIGHT="28" CONTENT="insurance" WIDTH="105" HPOS="784" VPOS="1116" ID="st10-413"/></TextLine><TextLine HPOS="94" VPOS="1148" ID="tl10-71" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="companies" WIDTH="118" HPOS="94" VPOS="1148" ID="st10-414"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="219" VPOS="1148" ID="st10-415"/><SP/><String HEIGHT="28" CONTENT="hedge" WIDTH="67" HPOS="268" VPOS="1148" ID="st10-416"/><SP/><String HEIGHT="28" CONTENT="funds" WIDTH="62" HPOS="342" VPOS="1148" ID="st10-417"/><SP/><String HEIGHT="28" CONTENT="were" WIDTH="53" HPOS="412" VPOS="1148" ID="st10-418"/><SP/><String HEIGHT="28" CONTENT="busy" WIDTH="51" HPOS="473" VPOS="1148" ID="st10-419"/><SP/><String HEIGHT="28" CONTENT="repatriating" WIDTH="130" HPOS="532" VPOS="1148" ID="st10-420"/><SP/><String HEIGHT="28" CONTENT="cash" WIDTH="47" HPOS="669" VPOS="1148" ID="st10-421"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="724" VPOS="1148" ID="st10-422"/><SP/><String HEIGHT="28" CONTENT="survive" WIDTH="75" HPOS="755" VPOS="1148" ID="st10-423"/><String HEIGHT="28" CONTENT="," WIDTH="11" HPOS="830" VPOS="1148" ID="st10-424"/><SP/><String HEIGHT="28" CONTENT="one" WIDTH="41" HPOS="848" VPOS="1148" ID="st10-425"/></TextLine><TextLine HPOS="94" VPOS="1180" ID="tl10-72" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="can" WIDTH="37" HPOS="94" VPOS="1180" ID="st10-426"/><SP/><String HEIGHT="28" CONTENT="expect" WIDTH="70" HPOS="137" VPOS="1180" ID="st10-427"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="213" VPOS="1180" ID="st10-428"/><SP/><String HEIGHT="28" CONTENT="strong" WIDTH="72" HPOS="230" VPOS="1180" ID="st10-429"/><SP/><String HEIGHT="28" CONTENT="reversal" WIDTH="84" HPOS="307" VPOS="1180" ID="st10-430"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="397" VPOS="1180" ID="st10-431"/><SP/><String HEIGHT="28" CONTENT="this" WIDTH="41" HPOS="425" VPOS="1180" ID="st10-432"/><SP/><String HEIGHT="28" CONTENT="trend" WIDTH="60" HPOS="471" VPOS="1180" ID="st10-433"/><SP/><String HEIGHT="28" CONTENT="once" WIDTH="52" HPOS="537" VPOS="1180" ID="st10-434"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="595" VPOS="1180" ID="st10-435"/><SP/><String HEIGHT="28" CONTENT="debt" WIDTH="50" HPOS="635" VPOS="1180" ID="st10-436"/><SP/><String HEIGHT="28" CONTENT="issue" WIDTH="53" HPOS="691" VPOS="1180" ID="st10-437"/><SP/><String HEIGHT="28" CONTENT="comes" WIDTH="69" HPOS="750" VPOS="1180" ID="st10-438"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="24" HPOS="825" VPOS="1180" ID="st10-439"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="854" VPOS="1180" ID="st10-440"/></TextLine><TextLine HPOS="94" VPOS="1212" ID="tl10-73" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="fore" WIDTH="41" HPOS="94" VPOS="1212" ID="st10-441"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="135" VPOS="1212" ID="st10-442"/><SP/><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="154" VPOS="1212" ID="st10-443"/><SP/><String HEIGHT="28" CONTENT="direct" WIDTH="63" HPOS="207" VPOS="1212" ID="st10-444"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="279" VPOS="1212" ID="st10-445"/><SP/><String HEIGHT="28" CONTENT="indirect" WIDTH="85" HPOS="329" VPOS="1212" ID="st10-446"/><SP/><String HEIGHT="28" CONTENT="consequences" WIDTH="150" HPOS="423" VPOS="1212" ID="st10-447"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="582" VPOS="1212" ID="st10-448"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="614" VPOS="1212" ID="st10-449"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="55" HPOS="658" VPOS="1212" ID="st10-450"/><SP/><String HEIGHT="28" CONTENT="will" WIDTH="41" HPOS="722" VPOS="1212" ID="st10-451"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="772" VPOS="1212" ID="st10-452"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="807" VPOS="1212" ID="st10-453"/><SP/><String HEIGHT="28" CONTENT="such" WIDTH="50" HPOS="839" VPOS="1212" ID="st10-454"/></TextLine><TextLine HPOS="94" VPOS="1284" ID="tl10-74" WIDTH="349" HEIGHT="23"><String HEIGHT="23" CONTENT="22" WIDTH="18" HPOS="94" VPOS="1284" ID="st10-455"/><String HEIGHT="23" CONTENT="." WIDTH="9" HPOS="112" VPOS="1284" ID="st10-456"/><SP/><String HEIGHT="23" CONTENT="Hughes" WIDTH="69" HPOS="129" VPOS="1284" ID="st10-457"/><String HEIGHT="23" CONTENT="," WIDTH="12" HPOS="198" VPOS="1284" ID="st10-458"/><SP/><String HEIGHT="23" CONTENT="J" WIDTH="7" HPOS="216" VPOS="1284" ID="st10-459"/><String HEIGHT="23" CONTENT="." WIDTH="7" HPOS="223" VPOS="1284" ID="st10-460"/><SP/><String HEIGHT="23" CONTENT="and" WIDTH="35" HPOS="236" VPOS="1284" ID="st10-461"/><SP/><String HEIGHT="23" CONTENT="J" WIDTH="7" HPOS="277" VPOS="1284" ID="st10-462"/><String HEIGHT="23" CONTENT="." WIDTH="7" HPOS="284" VPOS="1284" ID="st10-463"/><SP/><String HEIGHT="23" CONTENT="Green" WIDTH="53" HPOS="297" VPOS="1284" ID="st10-464"/><String HEIGHT="23" CONTENT="(" WIDTH="11" HPOS="350" VPOS="1284" ID="st10-465"/><String HEIGHT="23" CONTENT="2008" WIDTH="43" HPOS="361" VPOS="1284" ID="st10-466"/><String HEIGHT="23" CONTENT=")" WIDTH="11" HPOS="404" VPOS="1284" ID="st10-467"/><String HEIGHT="23" CONTENT=":" WIDTH="11" HPOS="415" VPOS="1284" ID="st10-468"/><String HEIGHT="23" CONTENT="»" WIDTH="11" HPOS="432" VPOS="1284" ID="st10-469"/></TextLine><TextLine HPOS="443" VPOS="1289" ID="tl10-75" WIDTH="31" HEIGHT="12"><String HEIGHT="12" CONTENT="gm" WIDTH="31" HPOS="443" VPOS="1289" ID="st10-470"/></TextLine><TextLine HPOS="480" VPOS="1284" ID="tl10-76" WIDTH="409" HEIGHT="23"><String HEIGHT="23" CONTENT="Tumbles" WIDTH="79" HPOS="480" VPOS="1284" ID="st10-471"/><SP/><String HEIGHT="23" CONTENT="to" WIDTH="19" HPOS="566" VPOS="1284" ID="st10-472"/><SP/><String HEIGHT="23" CONTENT="Lowest" WIDTH="69" HPOS="592" VPOS="1284" ID="st10-473"/><SP/><String HEIGHT="23" CONTENT="Since" WIDTH="50" HPOS="667" VPOS="1284" ID="st10-474"/><String HEIGHT="23" CONTENT="’" WIDTH="8" HPOS="723" VPOS="1284" ID="st10-475"/><String HEIGHT="23" CONTENT="30s" WIDTH="24" HPOS="731" VPOS="1284" ID="st10-476"/><String HEIGHT="23" CONTENT="," WIDTH="9" HPOS="755" VPOS="1284" ID="st10-477"/><SP/><String HEIGHT="23" CONTENT="Ford" WIDTH="45" HPOS="771" VPOS="1284" ID="st10-478"/><SP/><String HEIGHT="23" CONTENT="Falls" WIDTH="42" HPOS="823" VPOS="1284" ID="st10-479"/><SP/><String HEIGHT="23" CONTENT="as" WIDTH="18" HPOS="871" VPOS="1284" ID="st10-480"/></TextLine><TextLine HPOS="129" VPOS="1311" ID="tl10-77" WIDTH="675" HEIGHT="24"><String HEIGHT="24" CONTENT="Aid" WIDTH="34" HPOS="129" VPOS="1311" ID="st10-481"/><SP/><String HEIGHT="24" CONTENT="Plan" WIDTH="41" HPOS="169" VPOS="1311" ID="st10-482"/><SP/><String HEIGHT="24" CONTENT="Falters," WIDTH="69" HPOS="216" VPOS="1311" ID="st10-483"/><String HEIGHT="24" CONTENT="«" WIDTH="9" HPOS="285" VPOS="1311" ID="st10-484"/><SP/><String HEIGHT="22" CONTENT="Bloomberg" WIDTH="90" HPOS="299" VPOS="1313" ID="st10-485"/><String HEIGHT="22" CONTENT="." WIDTH="10" HPOS="389" VPOS="1313" ID="st10-486"/><String HEIGHT="22" CONTENT="com" WIDTH="31" HPOS="399" VPOS="1313" ID="st10-487"/><String HEIGHT="24" CONTENT="(" WIDTH="12" HPOS="435" VPOS="1311" ID="st10-488"/><String HEIGHT="24" CONTENT="November" WIDTH="97" HPOS="447" VPOS="1311" ID="st10-489"/><SP/><String HEIGHT="24" CONTENT="20" WIDTH="18" HPOS="550" VPOS="1311" ID="st10-490"/><String HEIGHT="24" CONTENT=")" WIDTH="9" HPOS="568" VPOS="1311" ID="st10-491"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="577" VPOS="1311" ID="st10-492"/><SP/><String HEIGHT="24" CONTENT="www" WIDTH="35" HPOS="593" VPOS="1311" ID="st10-493"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="628" VPOS="1311" ID="st10-494"/><String HEIGHT="24" CONTENT="bloomberg" WIDTH="106" HPOS="639" VPOS="1311" ID="st10-495"/><String HEIGHT="24" CONTENT="." WIDTH="12" HPOS="745" VPOS="1311" ID="st10-496"/><String HEIGHT="24" CONTENT="com" WIDTH="35" HPOS="757" VPOS="1311" ID="st10-497"/><String HEIGHT="24" CONTENT="." WIDTH="12" HPOS="792" VPOS="1311" ID="st10-498"/></TextLine><TextLine HPOS="94" VPOS="1388" ID="tl10-78" WIDTH="25" HEIGHT="29"><String HEIGHT="29" CONTENT="36" WIDTH="25" HPOS="94" VPOS="1388" ID="st10-499"/></TextLine><TextLine HPOS="138" VPOS="1395" ID="tl10-79" WIDTH="153" HEIGHT="18"><String HEIGHT="18" CONTENT="Sapir" WIDTH="33" HPOS="138" VPOS="1395" ID="st10-500"/><String HEIGHT="18" CONTENT="," WIDTH="7" HPOS="171" VPOS="1395" ID="st10-501"/><SP/><String HEIGHT="18" CONTENT="Financial" WIDTH="65" HPOS="182" VPOS="1395" ID="st10-502"/><SP/><String HEIGHT="18" CONTENT="Crisis" WIDTH="39" HPOS="252" VPOS="1395" ID="st10-503"/></TextLine><TextLine HPOS="799" VPOS="1398" ID="tl10-80" WIDTH="29" HEIGHT="11"><String HEIGHT="11" CONTENT="ipg" WIDTH="29" HPOS="799" VPOS="1398" ID="st10-504"/></TextLine><TextLine HPOS="833" VPOS="1394" ID="tl10-81" WIDTH="56" HEIGHT="21"><String HEIGHT="21" CONTENT="1/2009" WIDTH="56" HPOS="833" VPOS="1394" ID="st10-505"/></TextLine></TextBlock></PrintSpace></Page><Page WIDTH="984" PHYSICAL_IMG_NR="11" ID="p658179" HEIGHT="1472"><PrintSpace WIDTH="984" HPOS="0" VPOS="0" ID="ps658179" HEIGHT="1472"><TextBlock WIDTH="984" HPOS="0" VPOS="0" ID="tb658179" HEIGHT="1472"><TextLine HPOS="94" VPOS="94" ID="tl11-0" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="magnitude" WIDTH="118" HPOS="94" VPOS="94" ID="st11-0"/><SP/><String HEIGHT="28" CONTENT="that" WIDTH="44" HPOS="217" VPOS="94" ID="st11-1"/><SP/><String HEIGHT="28" CONTENT="significant" WIDTH="113" HPOS="266" VPOS="94" ID="st11-2"/><SP/><String HEIGHT="28" CONTENT="changes" WIDTH="86" HPOS="384" VPOS="94" ID="st11-3"/><SP/><String HEIGHT="28" CONTENT="are" WIDTH="33" HPOS="475" VPOS="94" ID="st11-4"/><SP/><String HEIGHT="28" CONTENT="inevitable" WIDTH="105" HPOS="513" VPOS="94" ID="st11-5"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="623" VPOS="94" ID="st11-6"/><SP/><String HEIGHT="28" CONTENT="economic" WIDTH="106" HPOS="650" VPOS="94" ID="st11-7"/><SP/><String HEIGHT="28" CONTENT="policies" WIDTH="83" HPOS="761" VPOS="94" ID="st11-8"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="40" HPOS="849" VPOS="94" ID="st11-9"/></TextLine><TextLine HPOS="94" VPOS="126" ID="tl11-1" WIDTH="134" HEIGHT="28"><String HEIGHT="28" CONTENT="institutions" WIDTH="123" HPOS="94" VPOS="126" ID="st11-10"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="217" VPOS="126" ID="st11-11"/></TextLine><TextLine HPOS="228" VPOS="124" ID="tl11-2" WIDTH="16" HEIGHT="20"><String HEIGHT="20" CONTENT="23" WIDTH="16" HPOS="228" VPOS="124" ID="st11-12"/></TextLine><TextLine HPOS="94" VPOS="222" ID="tl11-3" WIDTH="505" HEIGHT="27"><String HEIGHT="27" CONTENT="The" WIDTH="46" HPOS="94" VPOS="222" ID="st11-13"/><SP/><String HEIGHT="27" CONTENT="Re" WIDTH="27" HPOS="148" VPOS="222" ID="st11-14"/><String HEIGHT="27" CONTENT="-" WIDTH="14" HPOS="175" VPOS="222" ID="st11-15"/><String HEIGHT="27" CONTENT="regulation" WIDTH="137" HPOS="189" VPOS="222" ID="st11-16"/><SP/><String HEIGHT="27" CONTENT="of" WIDTH="27" HPOS="334" VPOS="222" ID="st11-17"/><SP/><String HEIGHT="27" CONTENT="Financial" WIDTH="115" HPOS="369" VPOS="222" ID="st11-18"/><SP/><String HEIGHT="27" CONTENT="Markets" WIDTH="107" HPOS="492" VPOS="222" ID="st11-19"/></TextLine><TextLine HPOS="94" VPOS="254" ID="tl11-4" WIDTH="99" HEIGHT="26"><String HEIGHT="26" CONTENT="and" WIDTH="49" HPOS="94" VPOS="254" ID="st11-20"/><SP/><String HEIGHT="26" CONTENT="the" WIDTH="43" HPOS="150" VPOS="254" ID="st11-21"/></TextLine><TextLine HPOS="201" VPOS="254" ID="tl11-5" WIDTH="245" HEIGHT="26"><String HEIGHT="26" CONTENT="Prudential" WIDTH="138" HPOS="201" VPOS="254" ID="st11-22"/><SP/><String HEIGHT="26" CONTENT="Illusion" WIDTH="99" HPOS="347" VPOS="254" ID="st11-23"/></TextLine><TextLine HPOS="453" VPOS="254" ID="tl11-6" WIDTH="65" HEIGHT="26"><String HEIGHT="26" CONTENT="Issue" WIDTH="65" HPOS="453" VPOS="254" ID="st11-24"/></TextLine><TextLine HPOS="94" VPOS="318" ID="tl11-7" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="One" WIDTH="48" HPOS="94" VPOS="318" ID="st11-25"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="149" VPOS="318" ID="st11-26"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="179" VPOS="318" ID="st11-27"/><SP/><String HEIGHT="28" CONTENT="most" WIDTH="56" HPOS="220" VPOS="318" ID="st11-28"/><SP/><String HEIGHT="28" CONTENT="obvious" WIDTH="88" HPOS="283" VPOS="318" ID="st11-29"/><SP/><String HEIGHT="28" CONTENT="changes" WIDTH="87" HPOS="378" VPOS="318" ID="st11-30"/><SP/><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="472" VPOS="318" ID="st11-31"/><SP/><String HEIGHT="28" CONTENT="certainly" WIDTH="94" HPOS="496" VPOS="318" ID="st11-32"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="597" VPOS="318" ID="st11-33"/><SP/><String HEIGHT="28" CONTENT="trend" WIDTH="59" HPOS="639" VPOS="318" ID="st11-34"/><SP/><String HEIGHT="28" CONTENT="towards" WIDTH="89" HPOS="705" VPOS="318" ID="st11-35"/><SP/><String HEIGHT="28" CONTENT="re" WIDTH="22" HPOS="800" VPOS="318" ID="st11-36"/><String HEIGHT="28" CONTENT="-" WIDTH="11" HPOS="822" VPOS="318" ID="st11-37"/><String HEIGHT="28" CONTENT="regu" WIDTH="45" HPOS="833" VPOS="318" ID="st11-38" SUBS_TYPE="HypPart1" SUBS_CONTENT="regulating"/><HYP CONTENT="-" WIDTH="11" HPOS="878" VPOS="318" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="350" ID="tl11-8" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="lating" WIDTH="63" HPOS="94" VPOS="350" ID="st11-39" SUBS_TYPE="HypPart2" SUBS_CONTENT="regulating"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="163" VPOS="350" ID="st11-40"/><SP/><String HEIGHT="28" CONTENT="financial" WIDTH="93" HPOS="205" VPOS="350" ID="st11-41"/><SP/><String HEIGHT="28" CONTENT="markets" WIDTH="82" HPOS="304" VPOS="350" ID="st11-42"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="386" VPOS="350" ID="st11-43"/><SP/><String HEIGHT="28" CONTENT="Few" WIDTH="47" HPOS="404" VPOS="350" ID="st11-44"/><SP/><String HEIGHT="28" CONTENT="voices" WIDTH="68" HPOS="457" VPOS="350" ID="st11-45"/><SP/><String HEIGHT="28" CONTENT="now" WIDTH="49" HPOS="531" VPOS="350" ID="st11-46"/><SP/><String HEIGHT="28" CONTENT="openly" WIDTH="75" HPOS="586" VPOS="350" ID="st11-47"/><SP/><String HEIGHT="28" CONTENT="oppose" WIDTH="80" HPOS="668" VPOS="350" ID="st11-48"/><SP/><String HEIGHT="28" CONTENT="such" WIDTH="50" HPOS="754" VPOS="350" ID="st11-49"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="810" VPOS="350" ID="st11-50"/><SP/><String HEIGHT="28" CONTENT="move" WIDTH="61" HPOS="828" VPOS="350" ID="st11-51"/></TextLine><TextLine HPOS="94" VPOS="381" ID="tl11-9" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="94" VPOS="381" ID="st11-52"/><SP/><String HEIGHT="29" CONTENT="defend" WIDTH="75" HPOS="144" VPOS="381" ID="st11-53"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="228" VPOS="381" ID="st11-54"/><SP/><String HEIGHT="29" CONTENT="old" WIDTH="36" HPOS="272" VPOS="381" ID="st11-55"/><SP/><String HEIGHT="29" CONTENT="neo" WIDTH="32" HPOS="317" VPOS="381" ID="st11-56"/><String HEIGHT="29" CONTENT="-" WIDTH="10" HPOS="349" VPOS="381" ID="st11-57"/><String HEIGHT="29" CONTENT="liberal" WIDTH="76" HPOS="359" VPOS="381" ID="st11-58"/><SP/><String HEIGHT="29" CONTENT="credo" WIDTH="57" HPOS="444" VPOS="381" ID="st11-59"/><String HEIGHT="29" CONTENT="." WIDTH="12" HPOS="501" VPOS="381" ID="st11-60"/><SP/><String HEIGHT="29" CONTENT="This" WIDTH="49" HPOS="521" VPOS="381" ID="st11-61"/><SP/><String HEIGHT="29" CONTENT="trend" WIDTH="60" HPOS="578" VPOS="381" ID="st11-62"/><SP/><String HEIGHT="29" CONTENT="will" WIDTH="41" HPOS="647" VPOS="381" ID="st11-63"/><SP/><String HEIGHT="29" CONTENT="have" WIDTH="51" HPOS="696" VPOS="381" ID="st11-64"/><SP/><String HEIGHT="29" CONTENT="two" WIDTH="42" HPOS="756" VPOS="381" ID="st11-65"/><SP/><String HEIGHT="29" CONTENT="distinct" WIDTH="82" HPOS="807" VPOS="381" ID="st11-66"/></TextLine><TextLine HPOS="94" VPOS="413" ID="tl11-10" WIDTH="158" HEIGHT="29"><String HEIGHT="29" CONTENT="consequences" WIDTH="145" HPOS="94" VPOS="413" ID="st11-67"/><String HEIGHT="29" CONTENT="." WIDTH="13" HPOS="239" VPOS="413" ID="st11-68"/></TextLine><TextLine HPOS="129" VPOS="445" ID="tl11-11" WIDTH="760" HEIGHT="29"><String HEIGHT="29" CONTENT="The" WIDTH="44" HPOS="129" VPOS="445" ID="st11-69"/><SP/><String HEIGHT="29" CONTENT="first" WIDTH="44" HPOS="182" VPOS="445" ID="st11-70"/><SP/><String HEIGHT="29" CONTENT="is" WIDTH="17" HPOS="235" VPOS="445" ID="st11-71"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="12" HPOS="261" VPOS="445" ID="st11-72"/><SP/><String HEIGHT="29" CONTENT="strengthening" WIDTH="154" HPOS="282" VPOS="445" ID="st11-73"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="445" VPOS="445" ID="st11-74"/><SP/><String HEIGHT="29" CONTENT="prudential" WIDTH="115" HPOS="477" VPOS="445" ID="st11-75"/><SP/><String HEIGHT="29" CONTENT="regulations" WIDTH="124" HPOS="601" VPOS="445" ID="st11-76"/><SP/><String HEIGHT="29" CONTENT="for" WIDTH="32" HPOS="734" VPOS="445" ID="st11-77"/><SP/><String HEIGHT="29" CONTENT="banks" WIDTH="64" HPOS="775" VPOS="445" ID="st11-78"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="848" VPOS="445" ID="st11-79"/></TextLine><TextLine HPOS="94" VPOS="477" ID="tl11-12" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="financial" WIDTH="93" HPOS="94" VPOS="477" ID="st11-80"/><SP/><String HEIGHT="29" CONTENT="institutions" WIDTH="123" HPOS="196" VPOS="477" ID="st11-81"/><String HEIGHT="29" CONTENT="." WIDTH="11" HPOS="319" VPOS="477" ID="st11-82"/><SP/><String HEIGHT="29" CONTENT="This" WIDTH="49" HPOS="338" VPOS="477" ID="st11-83"/><SP/><String HEIGHT="29" CONTENT="is" WIDTH="18" HPOS="395" VPOS="477" ID="st11-84"/><SP/><String HEIGHT="29" CONTENT="certainly" WIDTH="95" HPOS="421" VPOS="477" ID="st11-85"/><SP/><String HEIGHT="29" CONTENT="much" WIDTH="63" HPOS="524" VPOS="477" ID="st11-86"/><SP/><String HEIGHT="29" CONTENT="needed" WIDTH="73" HPOS="596" VPOS="477" ID="st11-87"/><String HEIGHT="29" CONTENT="," WIDTH="13" HPOS="669" VPOS="477" ID="st11-88"/><SP/><String HEIGHT="29" CONTENT="but" WIDTH="38" HPOS="691" VPOS="477" ID="st11-89"/><SP/><String HEIGHT="29" CONTENT="it" WIDTH="16" HPOS="738" VPOS="477" ID="st11-90"/><SP/><String HEIGHT="29" CONTENT="would" WIDTH="71" HPOS="763" VPOS="477" ID="st11-91"/><SP/><String HEIGHT="29" CONTENT="be" WIDTH="26" HPOS="843" VPOS="477" ID="st11-92"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="11" HPOS="878" VPOS="477" ID="st11-93"/></TextLine><TextLine HPOS="94" VPOS="509" ID="tl11-13" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="mistake" WIDTH="84" HPOS="94" VPOS="509" ID="st11-94"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="24" HPOS="183" VPOS="509" ID="st11-95"/><SP/><String HEIGHT="29" CONTENT="take" WIDTH="45" HPOS="212" VPOS="509" ID="st11-96"/><SP/><String HEIGHT="29" CONTENT="it" WIDTH="16" HPOS="262" VPOS="509" ID="st11-97"/><SP/><String HEIGHT="29" CONTENT="for" WIDTH="33" HPOS="283" VPOS="509" ID="st11-98"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="11" HPOS="321" VPOS="509" ID="st11-99"/><SP/><String HEIGHT="29" CONTENT="complete" WIDTH="101" HPOS="338" VPOS="509" ID="st11-100"/><SP/><String HEIGHT="29" CONTENT="cure" WIDTH="44" HPOS="444" VPOS="509" ID="st11-101"/><String HEIGHT="29" CONTENT="." WIDTH="11" HPOS="488" VPOS="509" ID="st11-102"/><SP/><String HEIGHT="29" CONTENT="Prudential" WIDTH="115" HPOS="504" VPOS="509" ID="st11-103"/><SP/><String HEIGHT="29" CONTENT="regulations" WIDTH="124" HPOS="624" VPOS="509" ID="st11-104"/><SP/><String HEIGHT="29" CONTENT="are" WIDTH="33" HPOS="753" VPOS="509" ID="st11-105"/><SP/><String HEIGHT="29" CONTENT="designed" WIDTH="98" HPOS="791" VPOS="509" ID="st11-106"/></TextLine><TextLine HPOS="94" VPOS="541" ID="tl11-14" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="94" VPOS="541" ID="st11-107"/><SP/><String HEIGHT="28" CONTENT="act" WIDTH="31" HPOS="124" VPOS="541" ID="st11-108"/><SP/><String HEIGHT="28" CONTENT="against" WIDTH="77" HPOS="162" VPOS="541" ID="st11-109"/><SP/><String HEIGHT="28" CONTENT="known" WIDTH="77" HPOS="246" VPOS="541" ID="st11-110"/><SP/><String HEIGHT="28" CONTENT="risks" WIDTH="47" HPOS="329" VPOS="541" ID="st11-111"/><String HEIGHT="28" CONTENT="." WIDTH="10" HPOS="376" VPOS="541" ID="st11-112"/><SP/><String HEIGHT="28" CONTENT="However" WIDTH="96" HPOS="392" VPOS="541" ID="st11-113"/><String HEIGHT="28" CONTENT="," WIDTH="14" HPOS="488" VPOS="541" ID="st11-114"/><SP/><String HEIGHT="28" CONTENT="if" WIDTH="16" HPOS="508" VPOS="541" ID="st11-115"/><SP/><String HEIGHT="28" CONTENT="risk" WIDTH="40" HPOS="530" VPOS="541" ID="st11-116"/><SP/><String HEIGHT="28" CONTENT="were" WIDTH="54" HPOS="576" VPOS="541" ID="st11-117"/><SP/><String HEIGHT="28" CONTENT="fully" WIDTH="49" HPOS="636" VPOS="541" ID="st11-118"/><SP/><String HEIGHT="28" CONTENT="knowable" WIDTH="106" HPOS="692" VPOS="541" ID="st11-119"/><SP/><String HEIGHT="28" CONTENT="it" WIDTH="16" HPOS="805" VPOS="541" ID="st11-120"/><SP/><String HEIGHT="28" CONTENT="could" WIDTH="62" HPOS="827" VPOS="541" ID="st11-121"/></TextLine><TextLine HPOS="94" VPOS="573" ID="tl11-15" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="94" VPOS="573" ID="st11-122"/><SP/><String HEIGHT="28" CONTENT="rationally" WIDTH="104" HPOS="125" VPOS="573" ID="st11-123"/><SP/><String HEIGHT="28" CONTENT="anticipated" WIDTH="121" HPOS="234" VPOS="573" ID="st11-124"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="40" HPOS="361" VPOS="573" ID="st11-125"/><SP/><String HEIGHT="28" CONTENT="prudential" WIDTH="114" HPOS="406" VPOS="573" ID="st11-126"/><SP/><String HEIGHT="28" CONTENT="regulations" WIDTH="123" HPOS="525" VPOS="573" ID="st11-127"/><SP/><String HEIGHT="28" CONTENT="would" WIDTH="71" HPOS="653" VPOS="573" ID="st11-128"/><SP/><String HEIGHT="28" CONTENT="not" WIDTH="38" HPOS="729" VPOS="573" ID="st11-129"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="772" VPOS="573" ID="st11-130"/><SP/><String HEIGHT="28" CONTENT="needed" WIDTH="73" HPOS="803" VPOS="573" ID="st11-131"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="876" VPOS="573" ID="st11-132"/></TextLine><TextLine HPOS="94" VPOS="605" ID="tl11-16" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="94" VPOS="605" ID="st11-133"/><SP/><String HEIGHT="28" CONTENT="worst" WIDTH="63" HPOS="144" VPOS="605" ID="st11-134"/><SP/><String HEIGHT="28" CONTENT="risk" WIDTH="40" HPOS="214" VPOS="605" ID="st11-135"/><SP/><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="261" VPOS="605" ID="st11-136"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="36" HPOS="284" VPOS="605" ID="st11-137"/><SP/><String HEIGHT="28" CONTENT="surprise" WIDTH="87" HPOS="326" VPOS="605" ID="st11-138"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="420" VPOS="605" ID="st11-139"/><SP/><String HEIGHT="28" CONTENT="totally" WIDTH="70" HPOS="439" VPOS="605" ID="st11-140"/><SP/><String HEIGHT="28" CONTENT="unexpected" WIDTH="126" HPOS="515" VPOS="605" ID="st11-141"/><SP/><String HEIGHT="28" CONTENT="event" WIDTH="59" HPOS="648" VPOS="605" ID="st11-142"/><SP/><String HEIGHT="28" CONTENT="would" WIDTH="71" HPOS="714" VPOS="605" ID="st11-143"/><SP/><String HEIGHT="28" CONTENT="imply" WIDTH="57" HPOS="792" VPOS="605" ID="st11-144"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="849" VPOS="605" ID="st11-145"/><SP/><String HEIGHT="28" CONTENT="as" WIDTH="21" HPOS="868" VPOS="605" ID="st11-146"/></TextLine><TextLine HPOS="94" VPOS="637" ID="tl11-17" WIDTH="81" HEIGHT="28"><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="94" VPOS="637" ID="st11-147"/><SP/><String HEIGHT="28" CONTENT="late" WIDTH="39" HPOS="136" VPOS="637" ID="st11-148"/></TextLine><TextLine HPOS="181" VPOS="643" ID="tl11-18" WIDTH="63" HEIGHT="15"><String HEIGHT="15" CONTENT="g" WIDTH="10" HPOS="181" VPOS="643" ID="st11-149"/><String HEIGHT="15" CONTENT="." WIDTH="11" HPOS="191" VPOS="643" ID="st11-150"/><String HEIGHT="15" CONTENT="l" WIDTH="10" HPOS="202" VPOS="643" ID="st11-151"/><String HEIGHT="15" CONTENT="." WIDTH="11" HPOS="212" VPOS="643" ID="st11-152"/><String HEIGHT="15" CONTENT="s" WIDTH="10" HPOS="223" VPOS="643" ID="st11-153"/><String HEIGHT="15" CONTENT="." WIDTH="11" HPOS="233" VPOS="643" ID="st11-154"/></TextLine><TextLine HPOS="251" VPOS="637" ID="tl11-19" WIDTH="293" HEIGHT="28"><String HEIGHT="28" CONTENT="Shackle" WIDTH="83" HPOS="251" VPOS="637" ID="st11-155"/><SP/><String HEIGHT="28" CONTENT="would" WIDTH="71" HPOS="341" VPOS="637" ID="st11-156"/><SP/><String HEIGHT="28" CONTENT="have" WIDTH="51" HPOS="418" VPOS="637" ID="st11-157"/><SP/><String HEIGHT="28" CONTENT="put" WIDTH="38" HPOS="476" VPOS="637" ID="st11-158"/><SP/><String HEIGHT="28" CONTENT="it" WIDTH="16" HPOS="520" VPOS="637" ID="st11-159"/><String HEIGHT="28" CONTENT="." WIDTH="8" HPOS="536" VPOS="637" ID="st11-160"/></TextLine><TextLine HPOS="544" VPOS="635" ID="tl11-20" WIDTH="19" HEIGHT="20"><String HEIGHT="20" CONTENT="24" WIDTH="19" HPOS="544" VPOS="635" ID="st11-161"/></TextLine><TextLine HPOS="129" VPOS="669" ID="tl11-21" WIDTH="760" HEIGHT="28"><String HEIGHT="28" CONTENT="Taking" WIDTH="75" HPOS="129" VPOS="669" ID="st11-162"/><SP/><String HEIGHT="28" CONTENT="risk" WIDTH="40" HPOS="210" VPOS="669" ID="st11-163"/><SP/><String HEIGHT="28" CONTENT="seriously" WIDTH="97" HPOS="255" VPOS="669" ID="st11-164"/><SP/><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="358" VPOS="669" ID="st11-165"/><SP/><String HEIGHT="28" CONTENT="indispensable" WIDTH="149" HPOS="380" VPOS="669" ID="st11-166"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="534" VPOS="669" ID="st11-167"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="562" VPOS="669" ID="st11-168"/><SP/><String HEIGHT="28" CONTENT="world" WIDTH="66" HPOS="579" VPOS="669" ID="st11-169"/><SP/><String HEIGHT="28" CONTENT="that" WIDTH="44" HPOS="650" VPOS="669" ID="st11-170"/><SP/><String HEIGHT="28" CONTENT="probabilities" WIDTH="139" HPOS="699" VPOS="669" ID="st11-171"/><SP/><String HEIGHT="28" CONTENT="can" WIDTH="35" HPOS="843" VPOS="669" ID="st11-172" SUBS_TYPE="HypPart1" SUBS_CONTENT="cannot"/><HYP CONTENT="-" WIDTH="11" HPOS="878" VPOS="669" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="701" ID="tl11-22" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="not" WIDTH="38" HPOS="94" VPOS="701" ID="st11-173" SUBS_TYPE="HypPart2" SUBS_CONTENT="cannot"/><SP/><String HEIGHT="28" CONTENT="fully" WIDTH="49" HPOS="139" VPOS="701" ID="st11-174"/><SP/><String HEIGHT="28" CONTENT="describe" WIDTH="87" HPOS="195" VPOS="701" ID="st11-175"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="282" VPOS="701" ID="st11-176"/><SP/><String HEIGHT="28" CONTENT="Prudential" WIDTH="116" HPOS="300" VPOS="701" ID="st11-177"/><SP/><String HEIGHT="28" CONTENT="regulations" WIDTH="124" HPOS="423" VPOS="701" ID="st11-178"/><SP/><String HEIGHT="28" CONTENT="are" WIDTH="33" HPOS="554" VPOS="701" ID="st11-179"/><SP/><String HEIGHT="28" CONTENT="necessarily" WIDTH="117" HPOS="594" VPOS="701" ID="st11-180"/><SP/><String HEIGHT="28" CONTENT="incomplete" WIDTH="123" HPOS="718" VPOS="701" ID="st11-181"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="848" VPOS="701" ID="st11-182"/></TextLine><TextLine HPOS="94" VPOS="733" ID="tl11-23" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="imperfect" WIDTH="104" HPOS="94" VPOS="733" ID="st11-183"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="203" VPOS="733" ID="st11-184"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="34" HPOS="230" VPOS="733" ID="st11-185"/><SP/><String HEIGHT="28" CONTENT="face" WIDTH="42" HPOS="269" VPOS="733" ID="st11-186"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="316" VPOS="733" ID="st11-187"/><SP/><String HEIGHT="28" CONTENT="events" WIDTH="69" HPOS="344" VPOS="733" ID="st11-188"/><SP/><String HEIGHT="28" CONTENT="that" WIDTH="43" HPOS="418" VPOS="733" ID="st11-189"/><SP/><String HEIGHT="28" CONTENT="regulators" WIDTH="110" HPOS="466" VPOS="733" ID="st11-190"/><SP/><String HEIGHT="28" CONTENT="cannot" WIDTH="75" HPOS="581" VPOS="733" ID="st11-191"/><SP/><String HEIGHT="28" CONTENT="anticipate" WIDTH="102" HPOS="661" VPOS="733" ID="st11-192"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="763" VPOS="733" ID="st11-193"/><SP/><String HEIGHT="28" CONTENT="As" WIDTH="28" HPOS="778" VPOS="733" ID="st11-194"/><SP/><String HEIGHT="28" CONTENT="already" WIDTH="78" HPOS="811" VPOS="733" ID="st11-195"/></TextLine><TextLine HPOS="94" VPOS="765" ID="tl11-24" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="mentioned" WIDTH="115" HPOS="94" VPOS="765" ID="st11-196"/><String HEIGHT="28" CONTENT="," WIDTH="13" HPOS="209" VPOS="765" ID="st11-197"/><SP/><String HEIGHT="28" CONTENT="if" WIDTH="16" HPOS="231" VPOS="765" ID="st11-198"/><SP/><String HEIGHT="28" CONTENT="such" WIDTH="50" HPOS="256" VPOS="765" ID="st11-199"/><SP/><String HEIGHT="28" CONTENT="anticipation" WIDTH="133" HPOS="315" VPOS="765" ID="st11-200"/><SP/><String HEIGHT="28" CONTENT="were" WIDTH="53" HPOS="457" VPOS="765" ID="st11-201"/><SP/><String HEIGHT="28" CONTENT="possible" WIDTH="89" HPOS="520" VPOS="765" ID="st11-202"/><SP/><String HEIGHT="28" CONTENT="–" WIDTH="13" HPOS="618" VPOS="765" ID="st11-203"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="641" VPOS="765" ID="st11-204"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="672" VPOS="765" ID="st11-205"/><SP/><String HEIGHT="28" CONTENT="fully" WIDTH="49" HPOS="693" VPOS="765" ID="st11-206"/><SP/><String HEIGHT="28" CONTENT="probabilistic" WIDTH="138" HPOS="751" VPOS="765" ID="st11-207"/></TextLine><TextLine HPOS="94" VPOS="797" ID="tl11-25" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="world" WIDTH="66" HPOS="94" VPOS="797" ID="st11-208"/><SP/><String HEIGHT="28" CONTENT="–" WIDTH="14" HPOS="165" VPOS="797" ID="st11-209"/><SP/><String HEIGHT="28" CONTENT="regulations" WIDTH="124" HPOS="184" VPOS="797" ID="st11-210"/><SP/><String HEIGHT="28" CONTENT="would" WIDTH="71" HPOS="313" VPOS="797" ID="st11-211"/><SP/><String HEIGHT="28" CONTENT="not" WIDTH="38" HPOS="390" VPOS="797" ID="st11-212"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="433" VPOS="797" ID="st11-213"/><SP/><String HEIGHT="28" CONTENT="needed" WIDTH="73" HPOS="465" VPOS="797" ID="st11-214"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="538" VPOS="797" ID="st11-215"/><SP/><String HEIGHT="28" CONTENT="To" WIDTH="29" HPOS="556" VPOS="797" ID="st11-216"/><SP/><String HEIGHT="28" CONTENT="this" WIDTH="40" HPOS="591" VPOS="797" ID="st11-217"/><SP/><String HEIGHT="28" CONTENT="logical" WIDTH="72" HPOS="637" VPOS="797" ID="st11-218"/><SP/><String HEIGHT="28" CONTENT="paradox" WIDTH="84" HPOS="714" VPOS="797" ID="st11-219"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="798" VPOS="797" ID="st11-220"/><SP/><String HEIGHT="28" CONTENT="under" WIDTH="61" HPOS="816" VPOS="797" ID="st11-221" SUBS_TYPE="HypPart1" SUBS_CONTENT="undermining"/><HYP CONTENT="-" WIDTH="12" HPOS="877" VPOS="797" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="829" ID="tl11-26" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="mining" WIDTH="80" HPOS="94" VPOS="829" ID="st11-222" SUBS_TYPE="HypPart2" SUBS_CONTENT="undermining"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="183" VPOS="829" ID="st11-223"/><SP/><String HEIGHT="28" CONTENT="value" WIDTH="57" HPOS="227" VPOS="829" ID="st11-224"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="22" HPOS="294" VPOS="829" ID="st11-225"/><SP/><String HEIGHT="28" CONTENT="prudential" WIDTH="115" HPOS="325" VPOS="829" ID="st11-226"/><SP/><String HEIGHT="28" CONTENT="regulations" WIDTH="120" HPOS="449" VPOS="829" ID="st11-227"/><String HEIGHT="28" CONTENT="," WIDTH="11" HPOS="569" VPOS="829" ID="st11-228"/><SP/><String HEIGHT="28" CONTENT="one" WIDTH="41" HPOS="589" VPOS="829" ID="st11-229"/><SP/><String HEIGHT="28" CONTENT="must" WIDTH="56" HPOS="639" VPOS="829" ID="st11-230"/><SP/><String HEIGHT="28" CONTENT="add" WIDTH="41" HPOS="704" VPOS="829" ID="st11-231"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="754" VPOS="829" ID="st11-232"/><SP/><String HEIGHT="28" CONTENT="effect" WIDTH="59" HPOS="798" VPOS="829" ID="st11-233"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="866" VPOS="829" ID="st11-234"/></TextLine><TextLine HPOS="94" VPOS="861" ID="tl11-27" WIDTH="585" HEIGHT="28"><String HEIGHT="28" CONTENT="preference" WIDTH="115" HPOS="94" VPOS="861" ID="st11-235"/><SP/><String HEIGHT="28" CONTENT="reversals" WIDTH="90" HPOS="215" VPOS="861" ID="st11-236"/><String HEIGHT="28" CONTENT="," WIDTH="11" HPOS="305" VPOS="861" ID="st11-237"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="323" VPOS="861" ID="st11-238"/><SP/><String HEIGHT="28" CONTENT="well" WIDTH="44" HPOS="341" VPOS="861" ID="st11-239"/><String HEIGHT="28" CONTENT="-" WIDTH="11" HPOS="385" VPOS="861" ID="st11-240"/><String HEIGHT="28" CONTENT="established" WIDTH="121" HPOS="396" VPOS="861" ID="st11-241"/><SP/><String HEIGHT="28" CONTENT="phenomenon" WIDTH="141" HPOS="523" VPOS="861" ID="st11-242"/><String HEIGHT="28" CONTENT="." WIDTH="15" HPOS="664" VPOS="861" ID="st11-243"/></TextLine><TextLine HPOS="679" VPOS="858" ID="tl11-28" WIDTH="15" HEIGHT="21"><String HEIGHT="21" CONTENT="25" WIDTH="15" HPOS="679" VPOS="858" ID="st11-244"/></TextLine><TextLine HPOS="129" VPOS="893" ID="tl11-29" WIDTH="760" HEIGHT="28"><String HEIGHT="28" CONTENT="Prudential" WIDTH="116" HPOS="129" VPOS="893" ID="st11-245"/><SP/><String HEIGHT="28" CONTENT="regulations" WIDTH="123" HPOS="254" VPOS="893" ID="st11-246"/><SP/><String HEIGHT="28" CONTENT="are" WIDTH="33" HPOS="386" VPOS="893" ID="st11-247"/><SP/><String HEIGHT="28" CONTENT="usually" WIDTH="77" HPOS="428" VPOS="893" ID="st11-248"/><SP/><String HEIGHT="28" CONTENT="grounded" WIDTH="109" HPOS="514" VPOS="893" ID="st11-249"/><SP/><String HEIGHT="28" CONTENT="on" WIDTH="30" HPOS="631" VPOS="893" ID="st11-250"/><SP/><String HEIGHT="28" CONTENT="incentives" WIDTH="106" HPOS="669" VPOS="893" ID="st11-251"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="775" VPOS="893" ID="st11-252"/><SP/><String HEIGHT="28" CONTENT="They" WIDTH="56" HPOS="794" VPOS="893" ID="st11-253"/><SP/><String HEIGHT="28" CONTENT="as" WIDTH="20" HPOS="859" VPOS="893" ID="st11-254" SUBS_TYPE="HypPart1" SUBS_CONTENT="assume"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="893" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="925" ID="tl11-30" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="sume" WIDTH="59" HPOS="94" VPOS="925" ID="st11-255" SUBS_TYPE="HypPart2" SUBS_CONTENT="assume"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="162" VPOS="925" ID="st11-256"/><SP/><String HEIGHT="28" CONTENT="given" WIDTH="61" HPOS="183" VPOS="925" ID="st11-257"/><SP/><String HEIGHT="28" CONTENT="structure" WIDTH="99" HPOS="253" VPOS="925" ID="st11-258"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="361" VPOS="925" ID="st11-259"/><SP/><String HEIGHT="28" CONTENT="individual" WIDTH="112" HPOS="394" VPOS="925" ID="st11-260"/><SP/><String HEIGHT="28" CONTENT="player" WIDTH="68" HPOS="515" VPOS="925" ID="st11-261"/><SP/><String HEIGHT="28" CONTENT="preferences" WIDTH="121" HPOS="592" VPOS="925" ID="st11-262"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="713" VPOS="925" ID="st11-263"/><SP/><String HEIGHT="28" CONTENT="However" WIDTH="97" HPOS="733" VPOS="925" ID="st11-264"/><String HEIGHT="28" CONTENT="," WIDTH="14" HPOS="830" VPOS="925" ID="st11-265"/><SP/><String HEIGHT="28" CONTENT="if" WIDTH="15" HPOS="853" VPOS="925" ID="st11-266"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="878" VPOS="925" ID="st11-267"/></TextLine><TextLine HPOS="94" VPOS="956" ID="tl11-31" WIDTH="656" HEIGHT="29"><String HEIGHT="29" CONTENT="»" WIDTH="12" HPOS="94" VPOS="956" ID="st11-268"/><String HEIGHT="29" CONTENT="framing" WIDTH="88" HPOS="106" VPOS="956" ID="st11-269"/><SP/><String HEIGHT="29" CONTENT="effect" WIDTH="61" HPOS="200" VPOS="956" ID="st11-270"/><String HEIGHT="29" CONTENT="«" WIDTH="11" HPOS="261" VPOS="956" ID="st11-271"/><SP/><String HEIGHT="29" CONTENT="ensues" WIDTH="72" HPOS="278" VPOS="956" ID="st11-272"/><SP/><String HEIGHT="29" CONTENT="when" WIDTH="61" HPOS="356" VPOS="956" ID="st11-273"/><SP/><String HEIGHT="29" CONTENT="an" WIDTH="26" HPOS="423" VPOS="956" ID="st11-274"/><SP/><String HEIGHT="29" CONTENT="unexpected" WIDTH="125" HPOS="455" VPOS="956" ID="st11-275"/><SP/><String HEIGHT="29" CONTENT="event" WIDTH="60" HPOS="586" VPOS="956" ID="st11-276"/><SP/><String HEIGHT="29" CONTENT="happens" WIDTH="85" HPOS="652" VPOS="956" ID="st11-277"/><String HEIGHT="29" CONTENT="," WIDTH="13" HPOS="737" VPOS="956" ID="st11-278"/></TextLine><TextLine HPOS="750" VPOS="954" ID="tl11-32" WIDTH="19" HEIGHT="21"><String HEIGHT="21" CONTENT="26" WIDTH="19" HPOS="750" VPOS="954" ID="st11-279"/></TextLine><TextLine HPOS="775" VPOS="956" ID="tl11-33" WIDTH="114" HEIGHT="29"><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="775" VPOS="956" ID="st11-280"/><SP/><String HEIGHT="29" CONTENT="prefer" WIDTH="63" HPOS="816" VPOS="956" ID="st11-281" SUBS_TYPE="HypPart1" SUBS_CONTENT="prefer23"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="956" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="1006" ID="tl11-34" WIDTH="397" HEIGHT="24"><String HEIGHT="24" CONTENT="23" WIDTH="17" HPOS="94" VPOS="1006" ID="st11-282" SUBS_TYPE="HypPart2" SUBS_CONTENT="prefer23"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="111" VPOS="1006" ID="st11-283"/><SP/><String HEIGHT="24" CONTENT="Sapir" WIDTH="45" HPOS="129" VPOS="1006" ID="st11-284"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="174" VPOS="1006" ID="st11-285"/><SP/><String HEIGHT="24" CONTENT="J" WIDTH="7" HPOS="190" VPOS="1006" ID="st11-286"/><String HEIGHT="24" CONTENT="." WIDTH="7" HPOS="197" VPOS="1006" ID="st11-287"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="211" VPOS="1006" ID="st11-288"/><String HEIGHT="24" CONTENT="2008" WIDTH="40" HPOS="221" VPOS="1006" ID="st11-289"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="261" VPOS="1006" ID="st11-290"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="271" VPOS="1006" ID="st11-291"/><String HEIGHT="24" CONTENT="»" WIDTH="15" HPOS="290" VPOS="1006" ID="st11-292"/><String HEIGHT="24" CONTENT="How" WIDTH="45" HPOS="305" VPOS="1006" ID="st11-293"/><SP/><String HEIGHT="24" CONTENT="Far" WIDTH="31" HPOS="357" VPOS="1006" ID="st11-294"/><SP/><String HEIGHT="24" CONTENT="Could" WIDTH="58" HPOS="396" VPOS="1006" ID="st11-295"/><SP/><String HEIGHT="24" CONTENT="the" WIDTH="29" HPOS="462" VPOS="1006" ID="st11-296"/></TextLine><TextLine HPOS="499" VPOS="1011" ID="tl11-35" WIDTH="25" HEIGHT="12"><String HEIGHT="12" CONTENT="us" WIDTH="25" HPOS="499" VPOS="1011" ID="st11-297"/></TextLine><TextLine HPOS="531" VPOS="1006" ID="tl11-36" WIDTH="358" HEIGHT="24"><String HEIGHT="24" CONTENT="Dollar" WIDTH="60" HPOS="531" VPOS="1006" ID="st11-298"/><SP/><String HEIGHT="24" CONTENT="Fall" WIDTH="33" HPOS="599" VPOS="1006" ID="st11-299"/><String HEIGHT="24" CONTENT="?" WIDTH="8" HPOS="632" VPOS="1006" ID="st11-300"/><String HEIGHT="24" CONTENT="," WIDTH="8" HPOS="640" VPOS="1006" ID="st11-301"/><String HEIGHT="24" CONTENT="«" WIDTH="9" HPOS="648" VPOS="1006" ID="st11-302"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="16" HPOS="665" VPOS="1006" ID="st11-303"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="681" VPOS="1006" ID="st11-304"/><SP/><String HEIGHT="23" CONTENT="Real" WIDTH="38" HPOS="698" VPOS="1007" ID="st11-305"/><String HEIGHT="23" CONTENT="-" WIDTH="10" HPOS="736" VPOS="1007" ID="st11-306"/><String HEIGHT="23" CONTENT="world" WIDTH="48" HPOS="746" VPOS="1007" ID="st11-307"/><SP/><String HEIGHT="23" CONTENT="Economics" WIDTH="88" HPOS="801" VPOS="1007" ID="st11-308"/></TextLine><TextLine HPOS="129" VPOS="1035" ID="tl11-37" WIDTH="564" HEIGHT="22"><String HEIGHT="22" CONTENT="Review" WIDTH="57" HPOS="129" VPOS="1035" ID="st11-309"/><String HEIGHT="22" CONTENT="," WIDTH="10" HPOS="186" VPOS="1035" ID="st11-310"/><SP/><String HEIGHT="23" CONTENT="47" WIDTH="23" HPOS="207" VPOS="1034" ID="st11-311"/><String HEIGHT="23" CONTENT="(" WIDTH="11" HPOS="241" VPOS="1034" ID="st11-312"/><String HEIGHT="23" CONTENT="October" WIDTH="78" HPOS="252" VPOS="1034" ID="st11-313"/><SP/><String HEIGHT="23" CONTENT="3" WIDTH="8" HPOS="341" VPOS="1034" ID="st11-314"/><String HEIGHT="23" CONTENT=")" WIDTH="9" HPOS="349" VPOS="1034" ID="st11-315"/><String HEIGHT="23" CONTENT=":" WIDTH="9" HPOS="358" VPOS="1034" ID="st11-316"/><SP/><String HEIGHT="23" CONTENT="232–36" WIDTH="60" HPOS="378" VPOS="1034" ID="st11-317"/><String HEIGHT="23" CONTENT=";" WIDTH="11" HPOS="438" VPOS="1034" ID="st11-318"/><SP/><String HEIGHT="23" CONTENT="http" WIDTH="42" HPOS="460" VPOS="1034" ID="st11-319"/><String HEIGHT="23" CONTENT=":" WIDTH="11" HPOS="502" VPOS="1034" ID="st11-320"/><String HEIGHT="23" CONTENT="//www" WIDTH="53" HPOS="513" VPOS="1034" ID="st11-321"/><String HEIGHT="23" CONTENT="." WIDTH="10" HPOS="566" VPOS="1034" ID="st11-322"/><String HEIGHT="23" CONTENT="paecon" WIDTH="64" HPOS="576" VPOS="1034" ID="st11-323"/><String HEIGHT="23" CONTENT="." WIDTH="11" HPOS="640" VPOS="1034" ID="st11-324"/><String HEIGHT="23" CONTENT="net" WIDTH="32" HPOS="651" VPOS="1034" ID="st11-325"/><String HEIGHT="23" CONTENT="/" WIDTH="7" HPOS="686" VPOS="1034" ID="st11-326"/></TextLine><TextLine HPOS="695" VPOS="1039" ID="tl11-38" WIDTH="49" HEIGHT="12"><String HEIGHT="12" CONTENT="paer" WIDTH="49" HPOS="695" VPOS="1039" ID="st11-327"/></TextLine><TextLine HPOS="744" VPOS="1034" ID="tl11-39" WIDTH="145" HEIGHT="23"><String HEIGHT="23" CONTENT="eview" WIDTH="55" HPOS="744" VPOS="1034" ID="st11-328"/><String HEIGHT="23" CONTENT="/" WIDTH="8" HPOS="801" VPOS="1034" ID="st11-329"/><SP/><String HEIGHT="23" CONTENT="issue47" WIDTH="69" HPOS="811" VPOS="1034" ID="st11-330"/><String HEIGHT="23" CONTENT="/" WIDTH="7" HPOS="882" VPOS="1034" ID="st11-331"/></TextLine><TextLine HPOS="129" VPOS="1061" ID="tl11-40" WIDTH="113" HEIGHT="24"><String HEIGHT="24" CONTENT="Sapir47" WIDTH="65" HPOS="129" VPOS="1061" ID="st11-332"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="194" VPOS="1061" ID="st11-333"/><String HEIGHT="24" CONTENT="pdf" WIDTH="28" HPOS="204" VPOS="1061" ID="st11-334"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="232" VPOS="1061" ID="st11-335"/></TextLine><TextLine HPOS="94" VPOS="1089" ID="tl11-41" WIDTH="111" HEIGHT="24"><String HEIGHT="24" CONTENT="24" WIDTH="19" HPOS="94" VPOS="1089" ID="st11-336"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="113" VPOS="1089" ID="st11-337"/><SP/><String HEIGHT="24" CONTENT="Shackle" WIDTH="66" HPOS="129" VPOS="1089" ID="st11-338"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="195" VPOS="1089" ID="st11-339"/></TextLine><TextLine HPOS="210" VPOS="1094" ID="tl11-42" WIDTH="52" HEIGHT="12"><String HEIGHT="12" CONTENT="g" WIDTH="8" HPOS="210" VPOS="1094" ID="st11-340"/><String HEIGHT="12" CONTENT="." WIDTH="9" HPOS="218" VPOS="1094" ID="st11-341"/><String HEIGHT="12" CONTENT="l" WIDTH="9" HPOS="227" VPOS="1094" ID="st11-342"/><String HEIGHT="12" CONTENT="." WIDTH="8" HPOS="236" VPOS="1094" ID="st11-343"/><String HEIGHT="12" CONTENT="s" WIDTH="9" HPOS="244" VPOS="1094" ID="st11-344"/><String HEIGHT="12" CONTENT="." WIDTH="9" HPOS="253" VPOS="1094" ID="st11-345"/></TextLine><TextLine HPOS="266" VPOS="1089" ID="tl11-43" WIDTH="623" HEIGHT="24"><String HEIGHT="24" CONTENT="(" WIDTH="9" HPOS="266" VPOS="1089" ID="st11-346"/><String HEIGHT="24" CONTENT="1949" WIDTH="39" HPOS="275" VPOS="1089" ID="st11-347"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="314" VPOS="1089" ID="st11-348"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="324" VPOS="1089" ID="st11-349"/><SP/><String HEIGHT="23" CONTENT="Expectations" WIDTH="107" HPOS="338" VPOS="1090" ID="st11-350"/><SP/><String HEIGHT="23" CONTENT="in" WIDTH="19" HPOS="449" VPOS="1090" ID="st11-351"/><SP/><String HEIGHT="23" CONTENT="Economics" WIDTH="83" HPOS="472" VPOS="1090" ID="st11-352"/><String HEIGHT="23" CONTENT="." WIDTH="10" HPOS="555" VPOS="1090" ID="st11-353"/><SP/><String HEIGHT="24" CONTENT="Cambridge" WIDTH="100" HPOS="569" VPOS="1089" ID="st11-354"/><String HEIGHT="24" CONTENT=":" WIDTH="12" HPOS="669" VPOS="1089" ID="st11-355"/><SP/><String HEIGHT="24" CONTENT="Cambridge" WIDTH="104" HPOS="685" VPOS="1089" ID="st11-356"/><SP/><String HEIGHT="24" CONTENT="University" WIDTH="96" HPOS="793" VPOS="1089" ID="st11-357"/></TextLine><TextLine HPOS="129" VPOS="1117" ID="tl11-44" WIDTH="54" HEIGHT="24"><String HEIGHT="24" CONTENT="Press" WIDTH="45" HPOS="129" VPOS="1117" ID="st11-358"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="174" VPOS="1117" ID="st11-359"/></TextLine><TextLine HPOS="94" VPOS="1145" ID="tl11-45" WIDTH="796" HEIGHT="24"><String HEIGHT="24" CONTENT="25" WIDTH="16" HPOS="94" VPOS="1145" ID="st11-360"/><String HEIGHT="24" CONTENT="." WIDTH="8" HPOS="110" VPOS="1145" ID="st11-361"/><SP/><String HEIGHT="24" CONTENT="Slovic" WIDTH="54" HPOS="129" VPOS="1145" ID="st11-362"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="183" VPOS="1145" ID="st11-363"/><SP/><String HEIGHT="24" CONTENT="P" WIDTH="8" HPOS="196" VPOS="1145" ID="st11-364"/><String HEIGHT="24" CONTENT="." WIDTH="8" HPOS="204" VPOS="1145" ID="st11-365"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="34" HPOS="216" VPOS="1145" ID="st11-366"/><SP/><String HEIGHT="24" CONTENT="S" WIDTH="9" HPOS="255" VPOS="1145" ID="st11-367"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="264" VPOS="1145" ID="st11-368"/><SP/><String HEIGHT="24" CONTENT="Lichtenstein" WIDTH="115" HPOS="277" VPOS="1145" ID="st11-369"/><String HEIGHT="24" CONTENT="(" WIDTH="9" HPOS="396" VPOS="1145" ID="st11-370"/><String HEIGHT="24" CONTENT="1983" WIDTH="36" HPOS="405" VPOS="1145" ID="st11-371"/><String HEIGHT="24" CONTENT=")" WIDTH="9" HPOS="441" VPOS="1145" ID="st11-372"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="450" VPOS="1145" ID="st11-373"/><String HEIGHT="24" CONTENT="»" WIDTH="9" HPOS="463" VPOS="1145" ID="st11-374"/><String HEIGHT="24" CONTENT="Preference" WIDTH="99" HPOS="472" VPOS="1145" ID="st11-375"/><SP/><String HEIGHT="24" CONTENT="Reversals" WIDTH="84" HPOS="575" VPOS="1145" ID="st11-376"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="659" VPOS="1145" ID="st11-377"/><SP/><String HEIGHT="24" CONTENT="A" WIDTH="15" HPOS="673" VPOS="1145" ID="st11-378"/><SP/><String HEIGHT="24" CONTENT="Broader" WIDTH="75" HPOS="692" VPOS="1145" ID="st11-379"/><SP/><String HEIGHT="24" CONTENT="Perspective," WIDTH="109" HPOS="771" VPOS="1145" ID="st11-380"/><String HEIGHT="24" CONTENT="«" WIDTH="10" HPOS="880" VPOS="1145" ID="st11-381"/></TextLine><TextLine HPOS="129" VPOS="1173" ID="tl11-46" WIDTH="428" HEIGHT="23"><String HEIGHT="23" CONTENT="in" WIDTH="17" HPOS="129" VPOS="1173" ID="st11-382"/><String HEIGHT="23" CONTENT=":" WIDTH="9" HPOS="146" VPOS="1173" ID="st11-383"/><SP/><String HEIGHT="22" CONTENT="American" WIDTH="87" HPOS="161" VPOS="1174" ID="st11-384"/><SP/><String HEIGHT="22" CONTENT="Economic" WIDTH="82" HPOS="253" VPOS="1174" ID="st11-385"/><SP/><String HEIGHT="22" CONTENT="Review" WIDTH="55" HPOS="341" VPOS="1174" ID="st11-386"/><String HEIGHT="22" CONTENT="," WIDTH="10" HPOS="396" VPOS="1174" ID="st11-387"/><SP/><String HEIGHT="23" CONTENT="73" WIDTH="20" HPOS="411" VPOS="1173" ID="st11-388"/><String HEIGHT="23" CONTENT="(" WIDTH="8" HPOS="436" VPOS="1173" ID="st11-389"/><String HEIGHT="23" CONTENT="3" WIDTH="9" HPOS="444" VPOS="1173" ID="st11-390"/><String HEIGHT="23" CONTENT=")" WIDTH="8" HPOS="453" VPOS="1173" ID="st11-391"/><String HEIGHT="23" CONTENT=":" WIDTH="9" HPOS="461" VPOS="1173" ID="st11-392"/><SP/><String HEIGHT="23" CONTENT="596–605" WIDTH="70" HPOS="476" VPOS="1173" ID="st11-393"/><String HEIGHT="23" CONTENT="." WIDTH="11" HPOS="546" VPOS="1173" ID="st11-394"/></TextLine><TextLine HPOS="94" VPOS="1200" ID="tl11-47" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="26" WIDTH="18" HPOS="94" VPOS="1200" ID="st11-395"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="112" VPOS="1200" ID="st11-396"/><SP/><String HEIGHT="24" CONTENT="Sapir" WIDTH="45" HPOS="129" VPOS="1200" ID="st11-397"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="174" VPOS="1200" ID="st11-398"/><SP/><String HEIGHT="24" CONTENT="J" WIDTH="7" HPOS="189" VPOS="1200" ID="st11-399"/><String HEIGHT="24" CONTENT="." WIDTH="7" HPOS="196" VPOS="1200" ID="st11-400"/><String HEIGHT="24" CONTENT="(" WIDTH="9" HPOS="209" VPOS="1200" ID="st11-401"/><String HEIGHT="24" CONTENT="2005" WIDTH="40" HPOS="218" VPOS="1200" ID="st11-402"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="258" VPOS="1200" ID="st11-403"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="268" VPOS="1200" ID="st11-404"/><SP/><String HEIGHT="23" CONTENT="Quelle" WIDTH="57" HPOS="284" VPOS="1201" ID="st11-405"/><SP/><String HEIGHT="23" CONTENT="économie" WIDTH="77" HPOS="347" VPOS="1201" ID="st11-406"/><SP/><String HEIGHT="23" CONTENT="pour" WIDTH="40" HPOS="430" VPOS="1201" ID="st11-407"/><SP/><String HEIGHT="23" CONTENT="le" WIDTH="14" HPOS="476" VPOS="1201" ID="st11-408"/><SP/><String HEIGHT="23" CONTENT="XXIè" WIDTH="48" HPOS="496" VPOS="1201" ID="st11-409"/><SP/><String HEIGHT="23" CONTENT="siècle" WIDTH="42" HPOS="551" VPOS="1201" ID="st11-410"/><String HEIGHT="23" CONTENT="?" WIDTH="8" HPOS="593" VPOS="1201" ID="st11-411"/><SP/><String HEIGHT="24" CONTENT="Paris" WIDTH="43" HPOS="607" VPOS="1200" ID="st11-412"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="650" VPOS="1200" ID="st11-413"/><SP/><String HEIGHT="24" CONTENT="Odile" WIDTH="52" HPOS="666" VPOS="1200" ID="st11-414"/><SP/><String HEIGHT="24" CONTENT="Jacob" WIDTH="50" HPOS="725" VPOS="1200" ID="st11-415"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="775" VPOS="1200" ID="st11-416"/><SP/><String HEIGHT="24" CONTENT="Chapters" WIDTH="84" HPOS="791" VPOS="1200" ID="st11-417"/><SP/><String HEIGHT="24" CONTENT="1" WIDTH="8" HPOS="881" VPOS="1200" ID="st11-418"/></TextLine><TextLine HPOS="129" VPOS="1228" ID="tl11-48" WIDTH="760" HEIGHT="24"><String HEIGHT="24" CONTENT="and" WIDTH="35" HPOS="129" VPOS="1228" ID="st11-419"/><SP/><String HEIGHT="24" CONTENT="4" WIDTH="10" HPOS="169" VPOS="1228" ID="st11-420"/><String HEIGHT="24" CONTENT=";" WIDTH="10" HPOS="179" VPOS="1228" ID="st11-421"/><SP/><String HEIGHT="24" CONTENT="Tversky" WIDTH="68" HPOS="193" VPOS="1228" ID="st11-422"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="261" VPOS="1228" ID="st11-423"/><SP/><String HEIGHT="24" CONTENT="A" WIDTH="11" HPOS="275" VPOS="1228" ID="st11-424"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="286" VPOS="1228" ID="st11-425"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="35" HPOS="301" VPOS="1228" ID="st11-426"/><SP/><String HEIGHT="24" CONTENT="D" WIDTH="12" HPOS="340" VPOS="1228" ID="st11-427"/><String HEIGHT="24" CONTENT="." WIDTH="12" HPOS="352" VPOS="1228" ID="st11-428"/><SP/><String HEIGHT="24" CONTENT="Kahneman" WIDTH="101" HPOS="369" VPOS="1228" ID="st11-429"/><String HEIGHT="24" CONTENT="(" WIDTH="9" HPOS="475" VPOS="1228" ID="st11-430"/><String HEIGHT="24" CONTENT="1986" WIDTH="38" HPOS="484" VPOS="1228" ID="st11-431"/><String HEIGHT="24" CONTENT=")" WIDTH="9" HPOS="522" VPOS="1228" ID="st11-432"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="531" VPOS="1228" ID="st11-433"/><String HEIGHT="24" CONTENT="»" WIDTH="10" HPOS="546" VPOS="1228" ID="st11-434"/><String HEIGHT="24" CONTENT="Rational" WIDTH="81" HPOS="556" VPOS="1228" ID="st11-435"/><SP/><String HEIGHT="24" CONTENT="Choice" WIDTH="66" HPOS="641" VPOS="1228" ID="st11-436"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="35" HPOS="712" VPOS="1228" ID="st11-437"/><SP/><String HEIGHT="24" CONTENT="the" WIDTH="30" HPOS="751" VPOS="1228" ID="st11-438"/><SP/><String HEIGHT="24" CONTENT="Framing" WIDTH="79" HPOS="786" VPOS="1228" ID="st11-439"/><SP/><String HEIGHT="24" CONTENT="of" WIDTH="19" HPOS="870" VPOS="1228" ID="st11-440"/></TextLine><TextLine HPOS="129" VPOS="1256" ID="tl11-49" WIDTH="760" HEIGHT="24"><String HEIGHT="24" CONTENT="Decisions," WIDTH="97" HPOS="129" VPOS="1256" ID="st11-441"/><String HEIGHT="24" CONTENT="«" WIDTH="10" HPOS="226" VPOS="1256" ID="st11-442"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="17" HPOS="241" VPOS="1256" ID="st11-443"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="258" VPOS="1256" ID="st11-444"/><SP/><String HEIGHT="23" CONTENT="Journal" WIDTH="67" HPOS="272" VPOS="1257" ID="st11-445"/><SP/><String HEIGHT="23" CONTENT="of" WIDTH="15" HPOS="344" VPOS="1257" ID="st11-446"/><SP/><String HEIGHT="23" CONTENT="Business" WIDTH="68" HPOS="364" VPOS="1257" ID="st11-447"/><String HEIGHT="23" CONTENT="," WIDTH="9" HPOS="432" VPOS="1257" ID="st11-448"/><SP/><String HEIGHT="24" CONTENT="59" WIDTH="20" HPOS="446" VPOS="1256" ID="st11-449"/><String HEIGHT="24" CONTENT="(" WIDTH="8" HPOS="471" VPOS="1256" ID="st11-450"/><String HEIGHT="24" CONTENT="4" WIDTH="9" HPOS="479" VPOS="1256" ID="st11-451"/><String HEIGHT="24" CONTENT=")" WIDTH="9" HPOS="488" VPOS="1256" ID="st11-452"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="497" VPOS="1256" ID="st11-453"/><SP/><String HEIGHT="24" CONTENT="part" WIDTH="37" HPOS="512" VPOS="1256" ID="st11-454"/><SP/><String HEIGHT="24" CONTENT="2" WIDTH="11" HPOS="554" VPOS="1256" ID="st11-455"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="570" VPOS="1256" ID="st11-456"/><String HEIGHT="24" CONTENT="October" WIDTH="71" HPOS="580" VPOS="1256" ID="st11-457"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="651" VPOS="1256" ID="st11-458"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="661" VPOS="1256" ID="st11-459"/><SP/><String HEIGHT="24" CONTENT="251–78" WIDTH="58" HPOS="678" VPOS="1256" ID="st11-460"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="34" HPOS="741" VPOS="1256" ID="st11-461"/><String HEIGHT="24" CONTENT="»" WIDTH="10" HPOS="780" VPOS="1256" ID="st11-462"/><String HEIGHT="24" CONTENT="Loss" WIDTH="44" HPOS="790" VPOS="1256" ID="st11-463"/><SP/><String HEIGHT="24" CONTENT="Aver" WIDTH="40" HPOS="839" VPOS="1256" ID="st11-464" SUBS_TYPE="HypPart1" SUBS_CONTENT="Aversion"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="1256" HEIGHT="24"/></TextLine><TextLine HPOS="129" VPOS="1284" ID="tl11-50" WIDTH="760" HEIGHT="23"><String HEIGHT="23" CONTENT="sion" WIDTH="40" HPOS="129" VPOS="1284" ID="st11-465" SUBS_TYPE="HypPart2" SUBS_CONTENT="Aversion"/><SP/><String HEIGHT="23" CONTENT="in" WIDTH="19" HPOS="175" VPOS="1284" ID="st11-466"/><SP/><String HEIGHT="23" CONTENT="Riskless" WIDTH="74" HPOS="201" VPOS="1284" ID="st11-467"/><SP/><String HEIGHT="23" CONTENT="Choice" WIDTH="62" HPOS="282" VPOS="1284" ID="st11-468"/><String HEIGHT="23" CONTENT=":" WIDTH="11" HPOS="344" VPOS="1284" ID="st11-469"/><SP/><String HEIGHT="23" CONTENT="a" WIDTH="10" HPOS="362" VPOS="1284" ID="st11-470"/><SP/><String HEIGHT="23" CONTENT="Reference" WIDTH="92" HPOS="379" VPOS="1284" ID="st11-471"/><SP/><String HEIGHT="23" CONTENT="Dependant" WIDTH="104" HPOS="478" VPOS="1284" ID="st11-472"/><SP/><String HEIGHT="23" CONTENT="Model," WIDTH="66" HPOS="589" VPOS="1284" ID="st11-473"/><String HEIGHT="23" CONTENT="«" WIDTH="12" HPOS="655" VPOS="1284" ID="st11-474"/><SP/><String HEIGHT="23" CONTENT="in" WIDTH="16" HPOS="674" VPOS="1284" ID="st11-475"/><String HEIGHT="23" CONTENT=":" WIDTH="9" HPOS="690" VPOS="1284" ID="st11-476"/><SP/><String HEIGHT="22" CONTENT="Quarterly" WIDTH="87" HPOS="706" VPOS="1285" ID="st11-477"/><SP/><String HEIGHT="22" CONTENT="Journal" WIDTH="68" HPOS="800" VPOS="1285" ID="st11-478"/><SP/><String HEIGHT="22" CONTENT="of" WIDTH="15" HPOS="874" VPOS="1285" ID="st11-479"/></TextLine><TextLine HPOS="129" VPOS="1313" ID="tl11-51" WIDTH="375" HEIGHT="22"><String HEIGHT="22" CONTENT="Economics" WIDTH="84" HPOS="129" VPOS="1313" ID="st11-480"/><String HEIGHT="22" CONTENT="," WIDTH="10" HPOS="213" VPOS="1313" ID="st11-481"/><SP/><String HEIGHT="24" CONTENT="vol" WIDTH="26" HPOS="229" VPOS="1311" ID="st11-482"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="255" VPOS="1311" ID="st11-483"/><SP/><String HEIGHT="24" CONTENT="107" WIDTH="27" HPOS="269" VPOS="1311" ID="st11-484"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="296" VPOS="1311" ID="st11-485"/><SP/><String HEIGHT="24" CONTENT="n" WIDTH="9" HPOS="311" VPOS="1311" ID="st11-486"/><String HEIGHT="24" CONTENT="°" WIDTH="10" HPOS="320" VPOS="1311" ID="st11-487"/><String HEIGHT="24" CONTENT="4/1991" WIDTH="59" HPOS="330" VPOS="1311" ID="st11-488"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="389" VPOS="1311" ID="st11-489"/><SP/><String HEIGHT="24" CONTENT="1039–1061" WIDTH="90" HPOS="404" VPOS="1311" ID="st11-490"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="494" VPOS="1311" ID="st11-491"/></TextLine><TextLine HPOS="94" VPOS="1398" ID="tl11-52" WIDTH="30" HEIGHT="11"><String HEIGHT="11" CONTENT="ipg" WIDTH="30" HPOS="94" VPOS="1398" ID="st11-492"/></TextLine><TextLine HPOS="128" VPOS="1394" ID="tl11-53" WIDTH="56" HEIGHT="21"><String HEIGHT="21" CONTENT="1/2009" WIDTH="56" HPOS="128" VPOS="1394" ID="st11-493"/></TextLine><TextLine HPOS="694" VPOS="1395" ID="tl11-54" WIDTH="152" HEIGHT="18"><String HEIGHT="18" CONTENT="Sapir" WIDTH="33" HPOS="694" VPOS="1395" ID="st11-494"/><String HEIGHT="18" CONTENT="," WIDTH="7" HPOS="727" VPOS="1395" ID="st11-495"/><SP/><String HEIGHT="18" CONTENT="Financial" WIDTH="65" HPOS="738" VPOS="1395" ID="st11-496"/><SP/><String HEIGHT="18" CONTENT="Crisis" WIDTH="39" HPOS="807" VPOS="1395" ID="st11-497"/></TextLine><TextLine HPOS="866" VPOS="1388" ID="tl11-55" WIDTH="23" HEIGHT="29"><String HEIGHT="29" CONTENT="37" WIDTH="23" HPOS="866" VPOS="1388" ID="st11-498"/></TextLine></TextBlock></PrintSpace></Page><Page WIDTH="984" PHYSICAL_IMG_NR="12" ID="p658180" HEIGHT="1472"><PrintSpace WIDTH="984" HPOS="0" VPOS="0" ID="ps658180" HEIGHT="1472"><TextBlock WIDTH="984" HPOS="0" VPOS="0" ID="tb658180" HEIGHT="1472"><TextLine HPOS="94" VPOS="94" ID="tl12-0" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="ence" WIDTH="49" HPOS="94" VPOS="94" ID="st12-0"/><SP/><String HEIGHT="28" CONTENT="structure" WIDTH="97" HPOS="148" VPOS="94" ID="st12-1"/><SP/><String HEIGHT="28" CONTENT="will" WIDTH="40" HPOS="250" VPOS="94" ID="st12-2"/><SP/><String HEIGHT="28" CONTENT="change" WIDTH="72" HPOS="295" VPOS="94" ID="st12-3"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="367" VPOS="94" ID="st12-4"/><SP/><String HEIGHT="28" CONTENT="which" WIDTH="66" HPOS="384" VPOS="94" ID="st12-5"/><SP/><String HEIGHT="28" CONTENT="sometimes" WIDTH="117" HPOS="455" VPOS="94" ID="st12-6"/><SP/><String HEIGHT="28" CONTENT="makes" WIDTH="68" HPOS="577" VPOS="94" ID="st12-7"/><SP/><String HEIGHT="28" CONTENT="prudential" WIDTH="112" HPOS="650" VPOS="94" ID="st12-8"/><SP/><String HEIGHT="28" CONTENT="regulations" WIDTH="122" HPOS="767" VPOS="94" ID="st12-9"/></TextLine><TextLine HPOS="94" VPOS="126" ID="tl12-1" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="useless" WIDTH="74" HPOS="94" VPOS="126" ID="st12-10"/><SP/><String HEIGHT="28" CONTENT="when" WIDTH="61" HPOS="176" VPOS="126" ID="st12-11"/><SP/><String HEIGHT="28" CONTENT="they" WIDTH="48" HPOS="244" VPOS="126" ID="st12-12"/><SP/><String HEIGHT="28" CONTENT="are" WIDTH="33" HPOS="300" VPOS="126" ID="st12-13"/><SP/><String HEIGHT="28" CONTENT="most" WIDTH="55" HPOS="341" VPOS="126" ID="st12-14"/><SP/><String HEIGHT="28" CONTENT="needed" WIDTH="73" HPOS="404" VPOS="126" ID="st12-15"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="477" VPOS="126" ID="st12-16"/><SP/><String HEIGHT="28" CONTENT="In" WIDTH="25" HPOS="498" VPOS="126" ID="st12-17"/><SP/><String HEIGHT="28" CONTENT="fact" WIDTH="37" HPOS="531" VPOS="126" ID="st12-18"/><String HEIGHT="28" CONTENT="," WIDTH="10" HPOS="568" VPOS="126" ID="st12-19"/><SP/><String HEIGHT="28" CONTENT="prudential" WIDTH="115" HPOS="585" VPOS="126" ID="st12-20"/><SP/><String HEIGHT="28" CONTENT="regulations" WIDTH="124" HPOS="707" VPOS="126" ID="st12-21"/><SP/><String HEIGHT="28" CONTENT="have" WIDTH="50" HPOS="839" VPOS="126" ID="st12-22"/></TextLine><TextLine HPOS="94" VPOS="158" ID="tl12-2" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="never" WIDTH="60" HPOS="94" VPOS="158" ID="st12-23"/><SP/><String HEIGHT="28" CONTENT="prevented" WIDTH="110" HPOS="159" VPOS="158" ID="st12-24"/><SP/><String HEIGHT="28" CONTENT="financial" WIDTH="93" HPOS="274" VPOS="158" ID="st12-25"/><SP/><String HEIGHT="28" CONTENT="market" WIDTH="77" HPOS="373" VPOS="158" ID="st12-26"/><SP/><String HEIGHT="28" CONTENT="players" WIDTH="76" HPOS="455" VPOS="158" ID="st12-27"/><SP/><String HEIGHT="28" CONTENT="from" WIDTH="55" HPOS="536" VPOS="158" ID="st12-28"/><SP/><String HEIGHT="28" CONTENT="being" WIDTH="62" HPOS="596" VPOS="158" ID="st12-29"/><SP/><String HEIGHT="28" CONTENT="caught" WIDTH="75" HPOS="663" VPOS="158" ID="st12-30"/><SP/><String HEIGHT="28" CONTENT="up" WIDTH="29" HPOS="743" VPOS="158" ID="st12-31"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="777" VPOS="158" ID="st12-32"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="804" VPOS="158" ID="st12-33"/><SP/><String HEIGHT="28" CONTENT="frenzy" WIDTH="68" HPOS="821" VPOS="158" ID="st12-34"/></TextLine><TextLine HPOS="94" VPOS="190" ID="tl12-3" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="during" WIDTH="75" HPOS="94" VPOS="190" ID="st12-35"/><SP/><String HEIGHT="28" CONTENT="bubbles" WIDTH="82" HPOS="177" VPOS="190" ID="st12-36"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="259" VPOS="190" ID="st12-37"/><SP/><String HEIGHT="28" CONTENT="An" WIDTH="33" HPOS="279" VPOS="190" ID="st12-38"/><SP/><String HEIGHT="28" CONTENT="important" WIDTH="112" HPOS="320" VPOS="190" ID="st12-39"/><SP/><String HEIGHT="28" CONTENT="lesson" WIDTH="67" HPOS="441" VPOS="190" ID="st12-40"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="516" VPOS="190" ID="st12-41"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="548" VPOS="190" ID="st12-42"/><SP/><String HEIGHT="28" CONTENT="current" WIDTH="80" HPOS="591" VPOS="190" ID="st12-43"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="55" HPOS="680" VPOS="190" ID="st12-44"/><SP/><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="743" VPOS="190" ID="st12-45"/><SP/><String HEIGHT="28" CONTENT="that" WIDTH="44" HPOS="768" VPOS="190" ID="st12-46"/><SP/><String HEIGHT="28" CONTENT="public" WIDTH="69" HPOS="820" VPOS="190" ID="st12-47"/></TextLine><TextLine HPOS="94" VPOS="222" ID="tl12-4" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="policies" WIDTH="83" HPOS="94" VPOS="222" ID="st12-48"/><SP/><String HEIGHT="28" CONTENT="must" WIDTH="56" HPOS="184" VPOS="222" ID="st12-49"/><SP/><String HEIGHT="28" CONTENT="take" WIDTH="45" HPOS="247" VPOS="222" ID="st12-50"/><SP/><String HEIGHT="28" CONTENT="account" WIDTH="87" HPOS="299" VPOS="222" ID="st12-51"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="392" VPOS="222" ID="st12-52"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="422" VPOS="222" ID="st12-53"/><SP/><String HEIGHT="27" CONTENT="prudential" WIDTH="110" HPOS="464" VPOS="223" ID="st12-54"/><SP/><String HEIGHT="27" CONTENT="illusion" WIDTH="72" HPOS="581" VPOS="223" ID="st12-55"/><String HEIGHT="27" CONTENT="," WIDTH="10" HPOS="653" VPOS="223" ID="st12-56"/><SP/><String HEIGHT="28" CONTENT="just" WIDTH="40" HPOS="670" VPOS="222" ID="st12-57"/><SP/><String HEIGHT="28" CONTENT="as" WIDTH="21" HPOS="717" VPOS="222" ID="st12-58"/><SP/><String HEIGHT="28" CONTENT="they" WIDTH="48" HPOS="745" VPOS="222" ID="st12-59"/><SP/><String HEIGHT="28" CONTENT="are" WIDTH="33" HPOS="800" VPOS="222" ID="st12-60"/><SP/><String HEIGHT="28" CONTENT="now" WIDTH="49" HPOS="840" VPOS="222" ID="st12-61"/></TextLine><TextLine HPOS="94" VPOS="254" ID="tl12-5" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="becoming" WIDTH="110" HPOS="94" VPOS="254" ID="st12-62"/><SP/><String HEIGHT="28" CONTENT="aware" WIDTH="64" HPOS="214" VPOS="254" ID="st12-63"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="287" VPOS="254" ID="st12-64"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="319" VPOS="254" ID="st12-65"/><SP/><String HEIGHT="27" CONTENT="efficient" WIDTH="80" HPOS="364" VPOS="255" ID="st12-66"/><SP/><String HEIGHT="27" CONTENT="market" WIDTH="74" HPOS="453" VPOS="255" ID="st12-67"/><SP/><String HEIGHT="27" CONTENT="illusion" WIDTH="76" HPOS="536" VPOS="255" ID="st12-68"/><String HEIGHT="28" CONTENT="." WIDTH="7" HPOS="612" VPOS="254" ID="st12-69"/><SP/><String HEIGHT="28" CONTENT="The" WIDTH="43" HPOS="628" VPOS="254" ID="st12-70"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="55" HPOS="681" VPOS="254" ID="st12-71"/><SP/><String HEIGHT="28" CONTENT="has" WIDTH="36" HPOS="745" VPOS="254" ID="st12-72"/><SP/><String HEIGHT="28" CONTENT="probably" WIDTH="99" HPOS="790" VPOS="254" ID="st12-73"/></TextLine><TextLine HPOS="94" VPOS="286" ID="tl12-6" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="swept" WIDTH="64" HPOS="94" VPOS="286" ID="st12-74"/><SP/><String HEIGHT="28" CONTENT="away" WIDTH="56" HPOS="163" VPOS="286" ID="st12-75"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="34" HPOS="224" VPOS="286" ID="st12-76"/><SP/><String HEIGHT="28" CONTENT="illusion" WIDTH="82" HPOS="263" VPOS="286" ID="st12-77"/><SP/><String HEIGHT="28" CONTENT="that" WIDTH="43" HPOS="350" VPOS="286" ID="st12-78"/><SP/><String HEIGHT="28" CONTENT="markets" WIDTH="87" HPOS="398" VPOS="286" ID="st12-79"/><SP/><String HEIGHT="28" CONTENT="could" WIDTH="61" HPOS="490" VPOS="286" ID="st12-80"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="556" VPOS="286" ID="st12-81"/><SP/><String HEIGHT="28" CONTENT="efficient" WIDTH="88" HPOS="587" VPOS="286" ID="st12-82"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="40" HPOS="681" VPOS="286" ID="st12-83"/><SP/><String HEIGHT="28" CONTENT="self" WIDTH="40" HPOS="726" VPOS="286" ID="st12-84"/><String HEIGHT="28" CONTENT="-" WIDTH="10" HPOS="766" VPOS="286" ID="st12-85"/><String HEIGHT="28" CONTENT="regulating" WIDTH="102" HPOS="776" VPOS="286" ID="st12-86"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="878" VPOS="286" ID="st12-87"/></TextLine><TextLine HPOS="94" VPOS="318" ID="tl12-7" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="However" WIDTH="96" HPOS="94" VPOS="318" ID="st12-88"/><String HEIGHT="28" CONTENT="," WIDTH="14" HPOS="190" VPOS="318" ID="st12-89"/><SP/><String HEIGHT="28" CONTENT="falling" WIDTH="69" HPOS="213" VPOS="318" ID="st12-90"/><SP/><String HEIGHT="28" CONTENT="into" WIDTH="45" HPOS="292" VPOS="318" ID="st12-91"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="346" VPOS="318" ID="st12-92"/><SP/><String HEIGHT="28" CONTENT="illusion" WIDTH="82" HPOS="391" VPOS="318" ID="st12-93"/><SP/><String HEIGHT="28" CONTENT="that" WIDTH="44" HPOS="482" VPOS="318" ID="st12-94"/><SP/><String HEIGHT="28" CONTENT="prudential" WIDTH="114" HPOS="535" VPOS="318" ID="st12-95"/><SP/><String HEIGHT="28" CONTENT="regulations" WIDTH="123" HPOS="659" VPOS="318" ID="st12-96"/><SP/><String HEIGHT="28" CONTENT="could" WIDTH="62" HPOS="792" VPOS="318" ID="st12-97"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="863" VPOS="318" ID="st12-98"/></TextLine><TextLine HPOS="94" VPOS="350" ID="tl12-8" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="enough" WIDTH="84" HPOS="94" VPOS="350" ID="st12-99"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="186" VPOS="350" ID="st12-100"/><SP/><String HEIGHT="28" CONTENT="prevent" WIDTH="84" HPOS="217" VPOS="350" ID="st12-101"/><SP/><String HEIGHT="28" CONTENT="massive" WIDTH="85" HPOS="308" VPOS="350" ID="st12-102"/><SP/><String HEIGHT="28" CONTENT="financial" WIDTH="93" HPOS="401" VPOS="350" ID="st12-103"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="501" VPOS="350" ID="st12-104"/><SP/><String HEIGHT="28" CONTENT="economic" WIDTH="107" HPOS="550" VPOS="350" ID="st12-105"/><SP/><String HEIGHT="28" CONTENT="disorder" WIDTH="92" HPOS="665" VPOS="350" ID="st12-106"/><SP/><String HEIGHT="28" CONTENT="might" WIDTH="67" HPOS="764" VPOS="350" ID="st12-107"/><SP/><String HEIGHT="28" CONTENT="have" WIDTH="50" HPOS="839" VPOS="350" ID="st12-108"/></TextLine><TextLine HPOS="94" VPOS="381" ID="tl12-9" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="painful" WIDTH="78" HPOS="94" VPOS="381" ID="st12-109"/><SP/><String HEIGHT="29" CONTENT="consequences" WIDTH="145" HPOS="180" VPOS="381" ID="st12-110"/><String HEIGHT="29" CONTENT="." WIDTH="13" HPOS="325" VPOS="381" ID="st12-111"/><SP/><String HEIGHT="29" CONTENT="If" WIDTH="18" HPOS="346" VPOS="381" ID="st12-112"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="373" VPOS="381" ID="st12-113"/><SP/><String HEIGHT="29" CONTENT="new" WIDTH="46" HPOS="416" VPOS="381" ID="st12-114"/><SP/><String HEIGHT="29" CONTENT="information" WIDTH="134" HPOS="471" VPOS="381" ID="st12-115"/><SP/><String HEIGHT="29" CONTENT="theory" WIDTH="71" HPOS="613" VPOS="381" ID="st12-116"/><SP/><String HEIGHT="29" CONTENT="has" WIDTH="36" HPOS="693" VPOS="381" ID="st12-117"/><SP/><String HEIGHT="29" CONTENT="clearly" WIDTH="71" HPOS="737" VPOS="381" ID="st12-118"/><SP/><String HEIGHT="29" CONTENT="under" WIDTH="61" HPOS="816" VPOS="381" ID="st12-119" SUBS_TYPE="HypPart1" SUBS_CONTENT="undermined"/><HYP CONTENT="-" WIDTH="12" HPOS="877" VPOS="381" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="413" ID="tl12-10" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="mined" WIDTH="71" HPOS="94" VPOS="413" ID="st12-120" SUBS_TYPE="HypPart2" SUBS_CONTENT="undermined"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="172" VPOS="413" ID="st12-121"/><SP/><String HEIGHT="29" CONTENT="competition" WIDTH="136" HPOS="215" VPOS="413" ID="st12-122"/><SP/><String HEIGHT="29" CONTENT="paradigm" WIDTH="105" HPOS="358" VPOS="413" ID="st12-123"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="471" VPOS="413" ID="st12-124"/><SP/><String HEIGHT="29" CONTENT="with" WIDTH="51" HPOS="519" VPOS="413" ID="st12-125"/><SP/><String HEIGHT="29" CONTENT="it" WIDTH="16" HPOS="577" VPOS="413" ID="st12-126"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="601" VPOS="413" ID="st12-127"/><SP/><String HEIGHT="29" CONTENT="very" WIDTH="47" HPOS="643" VPOS="413" ID="st12-128"/><SP/><String HEIGHT="29" CONTENT="idea" WIDTH="45" HPOS="697" VPOS="413" ID="st12-129"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="750" VPOS="413" ID="st12-130"/><SP/><String HEIGHT="29" CONTENT="spontane" WIDTH="97" HPOS="780" VPOS="413" ID="st12-131" SUBS_TYPE="HypPart1" SUBS_CONTENT="spontaneously"/><HYP CONTENT="-" WIDTH="12" HPOS="877" VPOS="413" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="445" ID="tl12-11" WIDTH="251" HEIGHT="29"><String HEIGHT="29" CONTENT="ously" WIDTH="59" HPOS="94" VPOS="445" ID="st12-132" SUBS_TYPE="HypPart2" SUBS_CONTENT="spontaneously"/><SP/><String HEIGHT="29" CONTENT="efficient" WIDTH="88" HPOS="158" VPOS="445" ID="st12-133"/><SP/><String HEIGHT="29" CONTENT="markets" WIDTH="82" HPOS="251" VPOS="445" ID="st12-134"/><String HEIGHT="29" CONTENT="," WIDTH="12" HPOS="333" VPOS="445" ID="st12-135"/></TextLine><TextLine HPOS="345" VPOS="443" ID="tl12-12" WIDTH="18" HEIGHT="21"><String HEIGHT="21" CONTENT="27" WIDTH="18" HPOS="345" VPOS="443" ID="st12-136"/></TextLine><TextLine HPOS="368" VPOS="445" ID="tl12-13" WIDTH="521" HEIGHT="29"><String HEIGHT="29" CONTENT="experimental" WIDTH="143" HPOS="368" VPOS="445" ID="st12-137"/><SP/><String HEIGHT="29" CONTENT="psychology" WIDTH="125" HPOS="516" VPOS="445" ID="st12-138"/><SP/><String HEIGHT="29" CONTENT="is" WIDTH="17" HPOS="646" VPOS="445" ID="st12-139"/><SP/><String HEIGHT="29" CONTENT="now" WIDTH="49" HPOS="668" VPOS="445" ID="st12-140"/><SP/><String HEIGHT="29" CONTENT="challenging" WIDTH="127" HPOS="722" VPOS="445" ID="st12-141"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="854" VPOS="445" ID="st12-142"/></TextLine><TextLine HPOS="94" VPOS="477" ID="tl12-14" WIDTH="218" HEIGHT="29"><String HEIGHT="29" CONTENT="model" WIDTH="70" HPOS="94" VPOS="477" ID="st12-143"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="170" VPOS="477" ID="st12-144"/><SP/><String HEIGHT="29" CONTENT="rationality" WIDTH="113" HPOS="199" VPOS="477" ID="st12-145"/></TextLine><TextLine HPOS="312" VPOS="475" ID="tl12-15" WIDTH="18" HEIGHT="21"><String HEIGHT="21" CONTENT="28" WIDTH="18" HPOS="312" VPOS="475" ID="st12-146"/></TextLine><TextLine HPOS="336" VPOS="477" ID="tl12-16" WIDTH="553" HEIGHT="29"><String HEIGHT="29" CONTENT="on" WIDTH="29" HPOS="336" VPOS="477" ID="st12-147"/><SP/><String HEIGHT="29" CONTENT="which" WIDTH="68" HPOS="371" VPOS="477" ID="st12-148"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="36" HPOS="444" VPOS="477" ID="st12-149"/><SP/><String HEIGHT="29" CONTENT="whole" WIDTH="67" HPOS="486" VPOS="477" ID="st12-150"/><SP/><String HEIGHT="29" CONTENT="theory" WIDTH="72" HPOS="559" VPOS="477" ID="st12-151"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="637" VPOS="477" ID="st12-152"/><SP/><String HEIGHT="29" CONTENT="economic" WIDTH="108" HPOS="666" VPOS="477" ID="st12-153"/><SP/><String HEIGHT="29" CONTENT="incentives" WIDTH="109" HPOS="780" VPOS="477" ID="st12-154"/></TextLine><TextLine HPOS="94" VPOS="509" ID="tl12-17" WIDTH="137" HEIGHT="29"><String HEIGHT="29" CONTENT="is" WIDTH="17" HPOS="94" VPOS="509" ID="st12-155"/><SP/><String HEIGHT="29" CONTENT="grounded" WIDTH="102" HPOS="116" VPOS="509" ID="st12-156"/><String HEIGHT="29" CONTENT="," WIDTH="13" HPOS="218" VPOS="509" ID="st12-157"/></TextLine><TextLine HPOS="230" VPOS="507" ID="tl12-18" WIDTH="19" HEIGHT="20"><String HEIGHT="20" CONTENT="29" WIDTH="19" HPOS="230" VPOS="507" ID="st12-158"/></TextLine><TextLine HPOS="254" VPOS="509" ID="tl12-19" WIDTH="635" HEIGHT="29"><String HEIGHT="29" CONTENT="including" WIDTH="104" HPOS="254" VPOS="509" ID="st12-159"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="363" VPOS="509" ID="st12-160"/><SP/><String HEIGHT="29" CONTENT="assumption" WIDTH="126" HPOS="403" VPOS="509" ID="st12-161"/><SP/><String HEIGHT="29" CONTENT="that" WIDTH="44" HPOS="534" VPOS="509" ID="st12-162"/><SP/><String HEIGHT="29" CONTENT="prudential" WIDTH="113" HPOS="583" VPOS="509" ID="st12-163"/><SP/><String HEIGHT="29" CONTENT="regulations" WIDTH="122" HPOS="701" VPOS="509" ID="st12-164"/><SP/><String HEIGHT="29" CONTENT="could" WIDTH="61" HPOS="828" VPOS="509" ID="st12-165"/></TextLine><TextLine HPOS="94" VPOS="541" ID="tl12-20" WIDTH="681" HEIGHT="28"><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="94" VPOS="541" ID="st12-166"/><SP/><String HEIGHT="28" CONTENT="enough" WIDTH="84" HPOS="127" VPOS="541" ID="st12-167"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="218" VPOS="541" ID="st12-168"/><SP/><String HEIGHT="28" CONTENT="curb" WIDTH="50" HPOS="248" VPOS="541" ID="st12-169"/><SP/><String HEIGHT="28" CONTENT="explosive" WIDTH="101" HPOS="305" VPOS="541" ID="st12-170"/><SP/><String HEIGHT="28" CONTENT="speculation" WIDTH="126" HPOS="413" VPOS="541" ID="st12-171"/><SP/><String HEIGHT="28" CONTENT="on" WIDTH="29" HPOS="545" VPOS="541" ID="st12-172"/><SP/><String HEIGHT="28" CONTENT="financial" WIDTH="93" HPOS="581" VPOS="541" ID="st12-173"/><SP/><String HEIGHT="28" CONTENT="markets" WIDTH="82" HPOS="681" VPOS="541" ID="st12-174"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="763" VPOS="541" ID="st12-175"/></TextLine><TextLine HPOS="129" VPOS="573" ID="tl12-21" WIDTH="760" HEIGHT="28"><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="129" VPOS="573" ID="st12-176"/><SP/><String HEIGHT="28" CONTENT="second" WIDTH="77" HPOS="179" VPOS="573" ID="st12-177"/><SP/><String HEIGHT="28" CONTENT="consequence" WIDTH="141" HPOS="261" VPOS="573" ID="st12-178"/><SP/><String HEIGHT="28" CONTENT="could" WIDTH="62" HPOS="408" VPOS="573" ID="st12-179"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="476" VPOS="573" ID="st12-180"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="508" VPOS="573" ID="st12-181"/><SP/><String HEIGHT="28" CONTENT="return" WIDTH="69" HPOS="526" VPOS="573" ID="st12-182"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="601" VPOS="573" ID="st12-183"/><SP/><String HEIGHT="28" CONTENT="capital" WIDTH="71" HPOS="630" VPOS="573" ID="st12-184"/><SP/><String HEIGHT="28" CONTENT="flow" WIDTH="50" HPOS="707" VPOS="573" ID="st12-185"/><SP/><String HEIGHT="28" CONTENT="limitations" WIDTH="115" HPOS="763" VPOS="573" ID="st12-186"/><String HEIGHT="28" CONTENT="," WIDTH="11" HPOS="878" VPOS="573" ID="st12-187"/></TextLine><TextLine HPOS="94" VPOS="605" ID="tl12-22" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="especially" WIDTH="104" HPOS="94" VPOS="605" ID="st12-188"/><SP/><String HEIGHT="28" CONTENT="for" WIDTH="32" HPOS="205" VPOS="605" ID="st12-189"/><SP/><String HEIGHT="28" CONTENT="high" WIDTH="41" HPOS="244" VPOS="605" ID="st12-190"/><String HEIGHT="28" CONTENT="-" WIDTH="10" HPOS="285" VPOS="605" ID="st12-191"/><String HEIGHT="28" CONTENT="volatility" WIDTH="104" HPOS="295" VPOS="605" ID="st12-192"/><SP/><String HEIGHT="28" CONTENT="short" WIDTH="58" HPOS="406" VPOS="605" ID="st12-193"/><String HEIGHT="28" CONTENT="-" WIDTH="12" HPOS="464" VPOS="605" ID="st12-194"/><String HEIGHT="28" CONTENT="term" WIDTH="47" HPOS="476" VPOS="605" ID="st12-195"/><SP/><String HEIGHT="28" CONTENT="flows" WIDTH="55" HPOS="530" VPOS="605" ID="st12-196"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="585" VPOS="605" ID="st12-197"/><SP/><String HEIGHT="28" CONTENT="Introducing" WIDTH="135" HPOS="603" VPOS="605" ID="st12-198"/><SP/><String HEIGHT="28" CONTENT="some" WIDTH="58" HPOS="745" VPOS="605" ID="st12-199"/><SP/><String HEIGHT="28" CONTENT="kind" WIDTH="50" HPOS="810" VPOS="605" ID="st12-200"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="866" VPOS="605" ID="st12-201"/></TextLine><TextLine HPOS="94" VPOS="637" ID="tl12-23" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="capital" WIDTH="71" HPOS="94" VPOS="637" ID="st12-202"/><SP/><String HEIGHT="28" CONTENT="controls" WIDTH="87" HPOS="173" VPOS="637" ID="st12-203"/><String HEIGHT="28" CONTENT="," WIDTH="11" HPOS="260" VPOS="637" ID="st12-204"/><SP/><String HEIGHT="28" CONTENT="coupled" WIDTH="88" HPOS="279" VPOS="637" ID="st12-205"/><SP/><String HEIGHT="28" CONTENT="with" WIDTH="51" HPOS="375" VPOS="637" ID="st12-206"/><SP/><String HEIGHT="28" CONTENT="serious" WIDTH="78" HPOS="433" VPOS="637" ID="st12-207"/><SP/><String HEIGHT="28" CONTENT="limitation" WIDTH="109" HPOS="519" VPOS="637" ID="st12-208"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="636" VPOS="637" ID="st12-209"/><SP/><String HEIGHT="28" CONTENT="scope" WIDTH="62" HPOS="667" VPOS="637" ID="st12-210"/><SP/><String HEIGHT="28" CONTENT="for" WIDTH="33" HPOS="736" VPOS="637" ID="st12-211"/><SP/><String HEIGHT="28" CONTENT="securitiza" WIDTH="102" HPOS="777" VPOS="637" ID="st12-212" SUBS_TYPE="HypPart1" SUBS_CONTENT="securitization"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="637" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="669" ID="tl12-24" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="tion" WIDTH="45" HPOS="94" VPOS="669" ID="st12-213" SUBS_TYPE="HypPart2" SUBS_CONTENT="securitization"/><SP/><String HEIGHT="28" CONTENT="processes" WIDTH="101" HPOS="144" VPOS="669" ID="st12-214"/><SP/><String HEIGHT="28" CONTENT="undoubtedly" WIDTH="141" HPOS="250" VPOS="669" ID="st12-215"/><SP/><String HEIGHT="28" CONTENT="harbors" WIDTH="84" HPOS="396" VPOS="669" ID="st12-216"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="485" VPOS="669" ID="st12-217"/><SP/><String HEIGHT="28" CONTENT="greatest" WIDTH="85" HPOS="525" VPOS="669" ID="st12-218"/><SP/><String HEIGHT="28" CONTENT="promise" WIDTH="89" HPOS="615" VPOS="669" ID="st12-219"/><SP/><String HEIGHT="28" CONTENT="for" WIDTH="32" HPOS="709" VPOS="669" ID="st12-220"/><SP/><String HEIGHT="28" CONTENT="mid" WIDTH="39" HPOS="746" VPOS="669" ID="st12-221"/><String HEIGHT="28" CONTENT="-" WIDTH="13" HPOS="785" VPOS="669" ID="st12-222"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="803" VPOS="669" ID="st12-223"/><SP/><String HEIGHT="28" CONTENT="long" WIDTH="47" HPOS="831" VPOS="669" ID="st12-224" SUBS_TYPE="HypPart1" SUBS_CONTENT="longterm"/><HYP CONTENT="-" WIDTH="11" HPOS="878" VPOS="669" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="701" ID="tl12-25" WIDTH="508" HEIGHT="28"><String HEIGHT="28" CONTENT="term" WIDTH="52" HPOS="94" VPOS="701" ID="st12-225" SUBS_TYPE="HypPart2" SUBS_CONTENT="longterm"/><SP/><String HEIGHT="28" CONTENT="stability" WIDTH="81" HPOS="154" VPOS="701" ID="st12-226"/><String HEIGHT="28" CONTENT="." WIDTH="10" HPOS="235" VPOS="701" ID="st12-227"/><SP/><String HEIGHT="28" CONTENT="Various" WIDTH="85" HPOS="252" VPOS="701" ID="st12-228"/><SP/><String HEIGHT="28" CONTENT="studies" WIDTH="77" HPOS="344" VPOS="701" ID="st12-229"/><SP/><String HEIGHT="28" CONTENT="prepared" WIDTH="98" HPOS="428" VPOS="701" ID="st12-230"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="27" HPOS="533" VPOS="701" ID="st12-231"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="567" VPOS="701" ID="st12-232"/></TextLine><TextLine HPOS="609" VPOS="707" ID="tl12-26" WIDTH="44" HEIGHT="14"><String HEIGHT="14" CONTENT="imf" WIDTH="44" HPOS="609" VPOS="707" ID="st12-233"/></TextLine><TextLine HPOS="653" VPOS="701" ID="tl12-27" WIDTH="236" HEIGHT="28"><String HEIGHT="28" CONTENT="," WIDTH="7" HPOS="653" VPOS="701" ID="st12-234"/><SP/><String HEIGHT="28" CONTENT="whose" WIDTH="71" HPOS="667" VPOS="701" ID="st12-235"/><SP/><String HEIGHT="28" CONTENT="commitment" WIDTH="144" HPOS="745" VPOS="701" ID="st12-236"/></TextLine><TextLine HPOS="94" VPOS="733" ID="tl12-28" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="94" VPOS="733" ID="st12-237"/><SP/><String HEIGHT="28" CONTENT="capital" WIDTH="71" HPOS="122" VPOS="733" ID="st12-238"/><SP/><String HEIGHT="28" CONTENT="mobility" WIDTH="93" HPOS="198" VPOS="733" ID="st12-239"/><SP/><String HEIGHT="28" CONTENT="cannot" WIDTH="75" HPOS="296" VPOS="733" ID="st12-240"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="376" VPOS="733" ID="st12-241"/><SP/><String HEIGHT="28" CONTENT="contested" WIDTH="100" HPOS="407" VPOS="733" ID="st12-242"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="507" VPOS="733" ID="st12-243"/><SP/><String HEIGHT="28" CONTENT="show" WIDTH="59" HPOS="524" VPOS="733" ID="st12-244"/><SP/><String HEIGHT="28" CONTENT="that" WIDTH="43" HPOS="588" VPOS="733" ID="st12-245"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="636" VPOS="733" ID="st12-246"/><SP/><String HEIGHT="28" CONTENT="real" WIDTH="40" HPOS="676" VPOS="733" ID="st12-247"/><SP/><String HEIGHT="28" CONTENT="economic" WIDTH="106" HPOS="721" VPOS="733" ID="st12-248"/><SP/><String HEIGHT="28" CONTENT="value" WIDTH="57" HPOS="832" VPOS="733" ID="st12-249"/></TextLine><TextLine HPOS="94" VPOS="765" ID="tl12-29" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="94" VPOS="765" ID="st12-250"/><SP/><String HEIGHT="28" CONTENT="short" WIDTH="59" HPOS="124" VPOS="765" ID="st12-251"/><String HEIGHT="28" CONTENT="-" WIDTH="11" HPOS="183" VPOS="765" ID="st12-252"/><String HEIGHT="28" CONTENT="term" WIDTH="48" HPOS="194" VPOS="765" ID="st12-253"/><SP/><String HEIGHT="28" CONTENT="highly" WIDTH="70" HPOS="249" VPOS="765" ID="st12-254"/><SP/><String HEIGHT="28" CONTENT="liquid" WIDTH="65" HPOS="327" VPOS="765" ID="st12-255"/><SP/><String HEIGHT="28" CONTENT="capital" WIDTH="72" HPOS="399" VPOS="765" ID="st12-256"/><SP/><String HEIGHT="28" CONTENT="asset" WIDTH="52" HPOS="478" VPOS="765" ID="st12-257"/><SP/><String HEIGHT="28" CONTENT="mobility" WIDTH="94" HPOS="537" VPOS="765" ID="st12-258"/><SP/><String HEIGHT="28" CONTENT="for" WIDTH="33" HPOS="638" VPOS="765" ID="st12-259"/><SP/><String HEIGHT="28" CONTENT="economic" WIDTH="108" HPOS="678" VPOS="765" ID="st12-260"/><SP/><String HEIGHT="28" CONTENT="develop" WIDTH="84" HPOS="793" VPOS="765" ID="st12-261" SUBS_TYPE="HypPart1" SUBS_CONTENT="development"/><HYP CONTENT="-" WIDTH="12" HPOS="877" VPOS="765" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="797" ID="tl12-30" WIDTH="448" HEIGHT="28"><String HEIGHT="28" CONTENT="ment" WIDTH="57" HPOS="94" VPOS="797" ID="st12-262" SUBS_TYPE="HypPart2" SUBS_CONTENT="development"/><SP/><String HEIGHT="28" CONTENT="has" WIDTH="36" HPOS="158" VPOS="797" ID="st12-263"/><SP/><String HEIGHT="28" CONTENT="been" WIDTH="52" HPOS="201" VPOS="797" ID="st12-264"/><SP/><String HEIGHT="28" CONTENT="significantly" WIDTH="134" HPOS="260" VPOS="797" ID="st12-265"/><SP/><String HEIGHT="28" CONTENT="overstressed" WIDTH="131" HPOS="400" VPOS="797" ID="st12-266"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="531" VPOS="797" ID="st12-267"/></TextLine><TextLine HPOS="542" VPOS="795" ID="tl12-31" WIDTH="19" HEIGHT="20"><String HEIGHT="20" CONTENT="30" WIDTH="19" HPOS="542" VPOS="795" ID="st12-268"/></TextLine><TextLine HPOS="568" VPOS="797" ID="tl12-32" WIDTH="321" HEIGHT="28"><String HEIGHT="28" CONTENT="Countries" WIDTH="110" HPOS="568" VPOS="797" ID="st12-269"/><SP/><String HEIGHT="28" CONTENT="relying" WIDTH="76" HPOS="685" VPOS="797" ID="st12-270"/><SP/><String HEIGHT="28" CONTENT="less" WIDTH="38" HPOS="768" VPOS="797" ID="st12-271"/><SP/><String HEIGHT="28" CONTENT="on" WIDTH="29" HPOS="813" VPOS="797" ID="st12-272"/><SP/><String HEIGHT="28" CONTENT="for" WIDTH="30" HPOS="849" VPOS="797" ID="st12-273" SUBS_TYPE="HypPart1" SUBS_CONTENT="foreign"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="797" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="829" ID="tl12-33" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="eign" WIDTH="48" HPOS="94" VPOS="829" ID="st12-274" SUBS_TYPE="HypPart2" SUBS_CONTENT="foreign"/><SP/><String HEIGHT="28" CONTENT="finance" WIDTH="80" HPOS="147" VPOS="829" ID="st12-275"/><SP/><String HEIGHT="28" CONTENT="have" WIDTH="51" HPOS="232" VPOS="829" ID="st12-276"/><SP/><String HEIGHT="28" CONTENT="experienced" WIDTH="131" HPOS="289" VPOS="829" ID="st12-277"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="426" VPOS="829" ID="st12-278"/><SP/><String HEIGHT="28" CONTENT="highest" WIDTH="81" HPOS="466" VPOS="829" ID="st12-279"/><SP/><String HEIGHT="28" CONTENT="growth" WIDTH="82" HPOS="553" VPOS="829" ID="st12-280"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="640" VPOS="829" ID="st12-281"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="668" VPOS="829" ID="st12-282"/><SP/><String HEIGHT="28" CONTENT="long" WIDTH="50" HPOS="709" VPOS="829" ID="st12-283"/><SP/><String HEIGHT="28" CONTENT="run" WIDTH="34" HPOS="765" VPOS="829" ID="st12-284"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="799" VPOS="829" ID="st12-285"/><SP/><String HEIGHT="28" CONTENT="Finan" WIDTH="60" HPOS="817" VPOS="829" ID="st12-286" SUBS_TYPE="HypPart1" SUBS_CONTENT="Financial"/><HYP CONTENT="-" WIDTH="12" HPOS="877" VPOS="829" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="861" ID="tl12-34" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="cial" WIDTH="38" HPOS="94" VPOS="861" ID="st12-287" SUBS_TYPE="HypPart2" SUBS_CONTENT="Financial"/><SP/><String HEIGHT="28" CONTENT="globalization" WIDTH="148" HPOS="145" VPOS="861" ID="st12-288"/><SP/><String HEIGHT="28" CONTENT="has" WIDTH="36" HPOS="306" VPOS="861" ID="st12-289"/><SP/><String HEIGHT="28" CONTENT="significantly" WIDTH="137" HPOS="355" VPOS="861" ID="st12-290"/><SP/><String HEIGHT="28" CONTENT="increased" WIDTH="104" HPOS="506" VPOS="861" ID="st12-291"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="36" HPOS="623" VPOS="861" ID="st12-292"/><SP/><String HEIGHT="28" CONTENT="risks" WIDTH="51" HPOS="672" VPOS="861" ID="st12-293"/><SP/><String HEIGHT="28" CONTENT="for" WIDTH="33" HPOS="736" VPOS="861" ID="st12-294"/><SP/><String HEIGHT="28" CONTENT="emerging" WIDTH="107" HPOS="782" VPOS="861" ID="st12-295"/></TextLine><TextLine HPOS="94" VPOS="893" ID="tl12-35" WIDTH="559" HEIGHT="28"><String HEIGHT="28" CONTENT="countries" WIDTH="102" HPOS="94" VPOS="893" ID="st12-296"/><SP/><String HEIGHT="28" CONTENT="without" WIDTH="89" HPOS="203" VPOS="893" ID="st12-297"/><SP/><String HEIGHT="28" CONTENT="providing" WIDTH="109" HPOS="299" VPOS="893" ID="st12-298"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="415" VPOS="893" ID="st12-299"/><SP/><String HEIGHT="28" CONTENT="expected" WIDTH="97" HPOS="456" VPOS="893" ID="st12-300"/><SP/><String HEIGHT="28" CONTENT="benefits" WIDTH="83" HPOS="559" VPOS="893" ID="st12-301"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="642" VPOS="893" ID="st12-302"/></TextLine><TextLine HPOS="653" VPOS="890" ID="tl12-36" WIDTH="14" HEIGHT="21"><String HEIGHT="21" CONTENT="31" WIDTH="14" HPOS="653" VPOS="890" ID="st12-303"/></TextLine><TextLine HPOS="94" VPOS="950" ID="tl12-37" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="27" WIDTH="16" HPOS="94" VPOS="950" ID="st12-304"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="110" VPOS="950" ID="st12-305"/><SP/><String HEIGHT="24" CONTENT="Stiglitz" WIDTH="64" HPOS="129" VPOS="950" ID="st12-306"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="193" VPOS="950" ID="st12-307"/><SP/><String HEIGHT="24" CONTENT="J" WIDTH="9" HPOS="207" VPOS="950" ID="st12-308"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="216" VPOS="950" ID="st12-309"/><String HEIGHT="24" CONTENT="E" WIDTH="9" HPOS="226" VPOS="950" ID="st12-310"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="235" VPOS="950" ID="st12-311"/><String HEIGHT="24" CONTENT="(" WIDTH="9" HPOS="245" VPOS="950" ID="st12-312"/><String HEIGHT="24" CONTENT="2002" WIDTH="38" HPOS="254" VPOS="950" ID="st12-313"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="292" VPOS="950" ID="st12-314"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="302" VPOS="950" ID="st12-315"/><String HEIGHT="24" CONTENT="»" WIDTH="10" HPOS="317" VPOS="950" ID="st12-316"/><String HEIGHT="24" CONTENT="Information" WIDTH="116" HPOS="327" VPOS="950" ID="st12-317"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="35" HPOS="447" VPOS="950" ID="st12-318"/><SP/><String HEIGHT="24" CONTENT="the" WIDTH="30" HPOS="486" VPOS="950" ID="st12-319"/><SP/><String HEIGHT="24" CONTENT="Change" WIDTH="72" HPOS="520" VPOS="950" ID="st12-320"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="18" HPOS="597" VPOS="950" ID="st12-321"/><SP/><String HEIGHT="24" CONTENT="the" WIDTH="29" HPOS="620" VPOS="950" ID="st12-322"/><SP/><String HEIGHT="24" CONTENT="Paradigm" WIDTH="89" HPOS="654" VPOS="950" ID="st12-323"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="18" HPOS="747" VPOS="950" ID="st12-324"/><SP/><String HEIGHT="24" CONTENT="Economics," WIDTH="108" HPOS="770" VPOS="950" ID="st12-325"/><String HEIGHT="24" CONTENT="«" WIDTH="11" HPOS="878" VPOS="950" ID="st12-326"/></TextLine><TextLine HPOS="129" VPOS="978" ID="tl12-38" WIDTH="459" HEIGHT="24"><String HEIGHT="24" CONTENT="in" WIDTH="17" HPOS="129" VPOS="978" ID="st12-327"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="146" VPOS="978" ID="st12-328"/><SP/><String HEIGHT="23" CONTENT="American" WIDTH="87" HPOS="161" VPOS="979" ID="st12-329"/><SP/><String HEIGHT="23" CONTENT="Economic" WIDTH="82" HPOS="253" VPOS="979" ID="st12-330"/><SP/><String HEIGHT="23" CONTENT="Review" WIDTH="55" HPOS="341" VPOS="979" ID="st12-331"/><String HEIGHT="23" CONTENT="," WIDTH="10" HPOS="396" VPOS="979" ID="st12-332"/><SP/><String HEIGHT="24" CONTENT="92" WIDTH="23" HPOS="411" VPOS="978" ID="st12-333"/><String HEIGHT="24" CONTENT="(" WIDTH="8" HPOS="439" VPOS="978" ID="st12-334"/><String HEIGHT="24" CONTENT="3" WIDTH="9" HPOS="447" VPOS="978" ID="st12-335"/><String HEIGHT="24" CONTENT=")" WIDTH="9" HPOS="456" VPOS="978" ID="st12-336"/><String HEIGHT="24" CONTENT="(" WIDTH="9" HPOS="471" VPOS="978" ID="st12-337"/><String HEIGHT="24" CONTENT="June" WIDTH="39" HPOS="480" VPOS="978" ID="st12-338"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="519" VPOS="978" ID="st12-339"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="529" VPOS="978" ID="st12-340"/><SP/><String HEIGHT="24" CONTENT="460" WIDTH="33" HPOS="544" VPOS="978" ID="st12-341"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="577" VPOS="978" ID="st12-342"/></TextLine><TextLine HPOS="94" VPOS="1006" ID="tl12-39" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="28" WIDTH="18" HPOS="94" VPOS="1006" ID="st12-343"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="112" VPOS="1006" ID="st12-344"/><SP/><String HEIGHT="24" CONTENT="Tversky" WIDTH="68" HPOS="129" VPOS="1006" ID="st12-345"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="197" VPOS="1006" ID="st12-346"/><SP/><String HEIGHT="24" CONTENT="A" WIDTH="9" HPOS="213" VPOS="1006" ID="st12-347"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="222" VPOS="1006" ID="st12-348"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="232" VPOS="1006" ID="st12-349"/><String HEIGHT="24" CONTENT="»" WIDTH="10" HPOS="248" VPOS="1006" ID="st12-350"/><String HEIGHT="24" CONTENT="Rational" WIDTH="81" HPOS="258" VPOS="1006" ID="st12-351"/><SP/><String HEIGHT="24" CONTENT="Theory" WIDTH="67" HPOS="345" VPOS="1006" ID="st12-352"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="35" HPOS="418" VPOS="1006" ID="st12-353"/><SP/><String HEIGHT="24" CONTENT="Constructive" WIDTH="120" HPOS="459" VPOS="1006" ID="st12-354"/><SP/><String HEIGHT="24" CONTENT="Choice," WIDTH="71" HPOS="586" VPOS="1006" ID="st12-355"/><String HEIGHT="24" CONTENT="«" WIDTH="11" HPOS="657" VPOS="1006" ID="st12-356"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="16" HPOS="674" VPOS="1006" ID="st12-357"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="690" VPOS="1006" ID="st12-358"/><SP/><String HEIGHT="24" CONTENT="Arrow" WIDTH="55" HPOS="705" VPOS="1006" ID="st12-359"/><String HEIGHT="24" CONTENT="," WIDTH="11" HPOS="760" VPOS="1006" ID="st12-360"/><SP/><String HEIGHT="24" CONTENT="K" WIDTH="8" HPOS="777" VPOS="1006" ID="st12-361"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="785" VPOS="1006" ID="st12-362"/><String HEIGHT="24" CONTENT="J" WIDTH="8" HPOS="794" VPOS="1006" ID="st12-363"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="802" VPOS="1006" ID="st12-364"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="811" VPOS="1006" ID="st12-365"/><SP/><String HEIGHT="24" CONTENT="E" WIDTH="10" HPOS="826" VPOS="1006" ID="st12-366"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="836" VPOS="1006" ID="st12-367"/><SP/><String HEIGHT="24" CONTENT="Co" WIDTH="24" HPOS="853" VPOS="1006" ID="st12-368" SUBS_TYPE="HypPart1" SUBS_CONTENT="Colombatto"/><HYP CONTENT="-" WIDTH="12" HPOS="877" VPOS="1006" HEIGHT="24"/></TextLine><TextLine HPOS="129" VPOS="1034" ID="tl12-40" WIDTH="760" HEIGHT="23"><String HEIGHT="23" CONTENT="lombatto" WIDTH="81" HPOS="129" VPOS="1034" ID="st12-369" SUBS_TYPE="HypPart2" SUBS_CONTENT="Colombatto"/><String HEIGHT="23" CONTENT="," WIDTH="11" HPOS="210" VPOS="1034" ID="st12-370"/><SP/><String HEIGHT="23" CONTENT="M" WIDTH="13" HPOS="228" VPOS="1034" ID="st12-371"/><String HEIGHT="23" CONTENT="." WIDTH="14" HPOS="241" VPOS="1034" ID="st12-372"/><SP/><String HEIGHT="23" CONTENT="Perlman" WIDTH="73" HPOS="261" VPOS="1034" ID="st12-373"/><String HEIGHT="23" CONTENT="," WIDTH="11" HPOS="334" VPOS="1034" ID="st12-374"/><SP/><String HEIGHT="23" CONTENT="and" WIDTH="34" HPOS="351" VPOS="1034" ID="st12-375"/><SP/><String HEIGHT="23" CONTENT="C" WIDTH="11" HPOS="391" VPOS="1034" ID="st12-376"/><String HEIGHT="23" CONTENT="." WIDTH="11" HPOS="402" VPOS="1034" ID="st12-377"/><SP/><String HEIGHT="23" CONTENT="Schmidt" WIDTH="79" HPOS="419" VPOS="1034" ID="st12-378"/><String HEIGHT="23" CONTENT="(" WIDTH="8" HPOS="504" VPOS="1034" ID="st12-379"/><String HEIGHT="23" CONTENT="eds" WIDTH="26" HPOS="512" VPOS="1034" ID="st12-380"/><String HEIGHT="23" CONTENT="." WIDTH="9" HPOS="538" VPOS="1034" ID="st12-381"/><String HEIGHT="23" CONTENT=")" WIDTH="9" HPOS="547" VPOS="1034" ID="st12-382"/><String HEIGHT="23" CONTENT="(" WIDTH="9" HPOS="562" VPOS="1034" ID="st12-383"/><String HEIGHT="23" CONTENT="1996" WIDTH="39" HPOS="571" VPOS="1034" ID="st12-384"/><String HEIGHT="23" CONTENT=")" WIDTH="10" HPOS="610" VPOS="1034" ID="st12-385"/><String HEIGHT="23" CONTENT=":" WIDTH="10" HPOS="620" VPOS="1034" ID="st12-386"/><SP/><String HEIGHT="22" CONTENT="The" WIDTH="33" HPOS="636" VPOS="1035" ID="st12-387"/><SP/><String HEIGHT="22" CONTENT="Rational" WIDTH="78" HPOS="675" VPOS="1035" ID="st12-388"/><SP/><String HEIGHT="22" CONTENT="Foundations" WIDTH="109" HPOS="759" VPOS="1035" ID="st12-389"/><SP/><String HEIGHT="22" CONTENT="of" WIDTH="15" HPOS="874" VPOS="1035" ID="st12-390"/></TextLine><TextLine HPOS="129" VPOS="1063" ID="tl12-41" WIDTH="760" HEIGHT="22"><String HEIGHT="22" CONTENT="Economic" WIDTH="84" HPOS="129" VPOS="1063" ID="st12-391"/><SP/><String HEIGHT="22" CONTENT="Behaviour" WIDTH="83" HPOS="221" VPOS="1063" ID="st12-392"/><String HEIGHT="22" CONTENT="." WIDTH="10" HPOS="304" VPOS="1063" ID="st12-393"/><SP/><String HEIGHT="24" CONTENT="Basingstoke" WIDTH="114" HPOS="322" VPOS="1061" ID="st12-394"/><String HEIGHT="24" CONTENT="/" WIDTH="7" HPOS="438" VPOS="1061" ID="st12-395"/><SP/><String HEIGHT="24" CONTENT="New" WIDTH="46" HPOS="447" VPOS="1061" ID="st12-396"/><SP/><String HEIGHT="24" CONTENT="York" WIDTH="41" HPOS="501" VPOS="1061" ID="st12-397"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="542" VPOS="1061" ID="st12-398"/><SP/><String HEIGHT="24" CONTENT="Macmillan" WIDTH="101" HPOS="561" VPOS="1061" ID="st12-399"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="35" HPOS="670" VPOS="1061" ID="st12-400"/><SP/><String HEIGHT="24" CONTENT="St" WIDTH="17" HPOS="713" VPOS="1061" ID="st12-401"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="730" VPOS="1061" ID="st12-402"/><SP/><String HEIGHT="24" CONTENT="Martin" WIDTH="59" HPOS="747" VPOS="1061" ID="st12-403"/><String HEIGHT="24" CONTENT="’" WIDTH="10" HPOS="806" VPOS="1061" ID="st12-404"/><String HEIGHT="24" CONTENT="s" WIDTH="10" HPOS="816" VPOS="1061" ID="st12-405"/><SP/><String HEIGHT="24" CONTENT="Press" WIDTH="45" HPOS="834" VPOS="1061" ID="st12-406"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="879" VPOS="1061" ID="st12-407"/></TextLine><TextLine HPOS="129" VPOS="1089" ID="tl12-42" WIDTH="64" HEIGHT="24"><String HEIGHT="24" CONTENT="185–97" WIDTH="54" HPOS="129" VPOS="1089" ID="st12-408"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="183" VPOS="1089" ID="st12-409"/></TextLine><TextLine HPOS="94" VPOS="1117" ID="tl12-43" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="29" WIDTH="18" HPOS="94" VPOS="1117" ID="st12-410"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="112" VPOS="1117" ID="st12-411"/><SP/><String HEIGHT="24" CONTENT="See" WIDTH="32" HPOS="129" VPOS="1117" ID="st12-412"/><SP/><String HEIGHT="24" CONTENT="Ross" WIDTH="40" HPOS="167" VPOS="1117" ID="st12-413"/><String HEIGHT="24" CONTENT="," WIDTH="11" HPOS="207" VPOS="1117" ID="st12-414"/><SP/><String HEIGHT="24" CONTENT="S" WIDTH="9" HPOS="224" VPOS="1117" ID="st12-415"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="233" VPOS="1117" ID="st12-416"/><String HEIGHT="24" CONTENT="(" WIDTH="9" HPOS="248" VPOS="1117" ID="st12-417"/><String HEIGHT="24" CONTENT="1973" WIDTH="36" HPOS="257" VPOS="1117" ID="st12-418"/><String HEIGHT="24" CONTENT=")" WIDTH="9" HPOS="293" VPOS="1117" ID="st12-419"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="302" VPOS="1117" ID="st12-420"/><String HEIGHT="24" CONTENT="»" WIDTH="11" HPOS="317" VPOS="1117" ID="st12-421"/><String HEIGHT="24" CONTENT="The" WIDTH="35" HPOS="328" VPOS="1117" ID="st12-422"/><SP/><String HEIGHT="24" CONTENT="Economic" WIDTH="95" HPOS="369" VPOS="1117" ID="st12-423"/><SP/><String HEIGHT="24" CONTENT="Theory" WIDTH="67" HPOS="470" VPOS="1117" ID="st12-424"/><SP/><String HEIGHT="24" CONTENT="of" WIDTH="19" HPOS="543" VPOS="1117" ID="st12-425"/><SP/><String HEIGHT="24" CONTENT="Agency" WIDTH="65" HPOS="568" VPOS="1117" ID="st12-426"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="633" VPOS="1117" ID="st12-427"/><SP/><String HEIGHT="24" CONTENT="The" WIDTH="37" HPOS="649" VPOS="1117" ID="st12-428"/><SP/><String HEIGHT="24" CONTENT="Principal" WIDTH="78" HPOS="692" VPOS="1117" ID="st12-429"/><String HEIGHT="24" CONTENT="’" WIDTH="9" HPOS="770" VPOS="1117" ID="st12-430"/><String HEIGHT="24" CONTENT="s" WIDTH="9" HPOS="779" VPOS="1117" ID="st12-431"/><SP/><String HEIGHT="24" CONTENT="Problem," WIDTH="85" HPOS="793" VPOS="1117" ID="st12-432"/><String HEIGHT="24" CONTENT="«" WIDTH="11" HPOS="878" VPOS="1117" ID="st12-433"/></TextLine><TextLine HPOS="129" VPOS="1145" ID="tl12-44" WIDTH="760" HEIGHT="24"><String HEIGHT="24" CONTENT="in" WIDTH="17" HPOS="129" VPOS="1145" ID="st12-434"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="146" VPOS="1145" ID="st12-435"/><SP/><String HEIGHT="23" CONTENT="American" WIDTH="87" HPOS="162" VPOS="1146" ID="st12-436"/><SP/><String HEIGHT="23" CONTENT="Economic" WIDTH="82" HPOS="255" VPOS="1146" ID="st12-437"/><SP/><String HEIGHT="23" CONTENT="Review" WIDTH="55" HPOS="344" VPOS="1146" ID="st12-438"/><String HEIGHT="23" CONTENT="," WIDTH="10" HPOS="399" VPOS="1146" ID="st12-439"/><SP/><String HEIGHT="24" CONTENT="63" WIDTH="21" HPOS="415" VPOS="1145" ID="st12-440"/><String HEIGHT="24" CONTENT="(" WIDTH="8" HPOS="443" VPOS="1145" ID="st12-441"/><String HEIGHT="24" CONTENT="1" WIDTH="8" HPOS="451" VPOS="1145" ID="st12-442"/><String HEIGHT="24" CONTENT=")" WIDTH="8" HPOS="459" VPOS="1145" ID="st12-443"/><String HEIGHT="24" CONTENT=":" WIDTH="8" HPOS="467" VPOS="1145" ID="st12-444"/><SP/><String HEIGHT="24" CONTENT="134–39" WIDTH="59" HPOS="482" VPOS="1145" ID="st12-445"/><String HEIGHT="24" CONTENT=";" WIDTH="10" HPOS="541" VPOS="1145" ID="st12-446"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="35" HPOS="557" VPOS="1145" ID="st12-447"/><SP/><String HEIGHT="24" CONTENT="Holmstrom" WIDTH="106" HPOS="598" VPOS="1145" ID="st12-448"/><String HEIGHT="24" CONTENT="," WIDTH="12" HPOS="704" VPOS="1145" ID="st12-449"/><SP/><String HEIGHT="24" CONTENT="B" WIDTH="10" HPOS="723" VPOS="1145" ID="st12-450"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="733" VPOS="1145" ID="st12-451"/><String HEIGHT="24" CONTENT="(" WIDTH="9" HPOS="749" VPOS="1145" ID="st12-452"/><String HEIGHT="24" CONTENT="1982" WIDTH="38" HPOS="758" VPOS="1145" ID="st12-453"/><String HEIGHT="24" CONTENT=")" WIDTH="9" HPOS="796" VPOS="1145" ID="st12-454"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="805" VPOS="1145" ID="st12-455"/><String HEIGHT="24" CONTENT="»" WIDTH="11" HPOS="821" VPOS="1145" ID="st12-456"/><String HEIGHT="24" CONTENT="Moral" WIDTH="57" HPOS="832" VPOS="1145" ID="st12-457"/></TextLine><TextLine HPOS="129" VPOS="1173" ID="tl12-45" WIDTH="547" HEIGHT="23"><String HEIGHT="23" CONTENT="Hazard" WIDTH="70" HPOS="129" VPOS="1173" ID="st12-458"/><SP/><String HEIGHT="23" CONTENT="in" WIDTH="18" HPOS="205" VPOS="1173" ID="st12-459"/><SP/><String HEIGHT="23" CONTENT="Teams," WIDTH="64" HPOS="228" VPOS="1173" ID="st12-460"/><String HEIGHT="23" CONTENT="«" WIDTH="11" HPOS="292" VPOS="1173" ID="st12-461"/><SP/><String HEIGHT="23" CONTENT="in" WIDTH="17" HPOS="308" VPOS="1173" ID="st12-462"/><String HEIGHT="23" CONTENT=":" WIDTH="9" HPOS="325" VPOS="1173" ID="st12-463"/><SP/><String HEIGHT="22" CONTENT="Bell" WIDTH="33" HPOS="340" VPOS="1174" ID="st12-464"/><SP/><String HEIGHT="22" CONTENT="Journal" WIDTH="67" HPOS="379" VPOS="1174" ID="st12-465"/><SP/><String HEIGHT="22" CONTENT="of" WIDTH="15" HPOS="451" VPOS="1174" ID="st12-466"/><SP/><String HEIGHT="22" CONTENT="Economics" WIDTH="83" HPOS="472" VPOS="1174" ID="st12-467"/><String HEIGHT="22" CONTENT="," WIDTH="10" HPOS="555" VPOS="1174" ID="st12-468"/><SP/><String HEIGHT="23" CONTENT="13" WIDTH="16" HPOS="571" VPOS="1173" ID="st12-469"/><String HEIGHT="23" CONTENT=":" WIDTH="8" HPOS="587" VPOS="1173" ID="st12-470"/><SP/><String HEIGHT="23" CONTENT="324–40" WIDTH="64" HPOS="601" VPOS="1173" ID="st12-471"/><String HEIGHT="23" CONTENT="." WIDTH="11" HPOS="665" VPOS="1173" ID="st12-472"/></TextLine><TextLine HPOS="94" VPOS="1200" ID="tl12-46" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="30" WIDTH="18" HPOS="94" VPOS="1200" ID="st12-473"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="112" VPOS="1200" ID="st12-474"/><SP/><String HEIGHT="24" CONTENT="Prasad" WIDTH="58" HPOS="129" VPOS="1200" ID="st12-475"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="187" VPOS="1200" ID="st12-476"/><SP/><String HEIGHT="24" CONTENT="E" WIDTH="9" HPOS="204" VPOS="1200" ID="st12-477"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="213" VPOS="1200" ID="st12-478"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="222" VPOS="1200" ID="st12-479"/><SP/><String HEIGHT="24" CONTENT="R" WIDTH="11" HPOS="238" VPOS="1200" ID="st12-480"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="249" VPOS="1200" ID="st12-481"/><SP/><String HEIGHT="24" CONTENT="Rajan" WIDTH="50" HPOS="267" VPOS="1200" ID="st12-482"/><String HEIGHT="24" CONTENT="," WIDTH="11" HPOS="317" VPOS="1200" ID="st12-483"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="34" HPOS="335" VPOS="1200" ID="st12-484"/><SP/><String HEIGHT="24" CONTENT="A" WIDTH="10" HPOS="376" VPOS="1200" ID="st12-485"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="386" VPOS="1200" ID="st12-486"/><SP/><String HEIGHT="24" CONTENT="Subramanian" WIDTH="124" HPOS="404" VPOS="1200" ID="st12-487"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="535" VPOS="1200" ID="st12-488"/><String HEIGHT="24" CONTENT="2007" WIDTH="40" HPOS="545" VPOS="1200" ID="st12-489"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="585" VPOS="1200" ID="st12-490"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="595" VPOS="1200" ID="st12-491"/><String HEIGHT="24" CONTENT="»" WIDTH="11" HPOS="613" VPOS="1200" ID="st12-492"/><String HEIGHT="24" CONTENT="The" WIDTH="35" HPOS="624" VPOS="1200" ID="st12-493"/><SP/><String HEIGHT="24" CONTENT="Paradox" WIDTH="75" HPOS="666" VPOS="1200" ID="st12-494"/><SP/><String HEIGHT="24" CONTENT="of" WIDTH="19" HPOS="748" VPOS="1200" ID="st12-495"/><SP/><String HEIGHT="24" CONTENT="Capital," WIDTH="73" HPOS="774" VPOS="1200" ID="st12-496"/><String HEIGHT="24" CONTENT="«" WIDTH="10" HPOS="847" VPOS="1200" ID="st12-497"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="17" HPOS="863" VPOS="1200" ID="st12-498"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="880" VPOS="1200" ID="st12-499"/></TextLine><TextLine HPOS="129" VPOS="1229" ID="tl12-47" WIDTH="427" HEIGHT="23"><String HEIGHT="23" CONTENT="Finance" WIDTH="71" HPOS="129" VPOS="1229" ID="st12-500"/><SP/><String HEIGHT="23" CONTENT="and" WIDTH="35" HPOS="205" VPOS="1229" ID="st12-501"/><SP/><String HEIGHT="23" CONTENT="Development" WIDTH="107" HPOS="245" VPOS="1229" ID="st12-502"/><String HEIGHT="23" CONTENT="," WIDTH="10" HPOS="352" VPOS="1229" ID="st12-503"/><SP/><String HEIGHT="24" CONTENT="44" WIDTH="25" HPOS="368" VPOS="1228" ID="st12-504"/><String HEIGHT="24" CONTENT="(" WIDTH="8" HPOS="399" VPOS="1228" ID="st12-505"/><String HEIGHT="24" CONTENT="1" WIDTH="8" HPOS="407" VPOS="1228" ID="st12-506"/><String HEIGHT="24" CONTENT=")" WIDTH="8" HPOS="415" VPOS="1228" ID="st12-507"/><String HEIGHT="24" CONTENT=";" WIDTH="9" HPOS="423" VPOS="1228" ID="st12-508"/><SP/><String HEIGHT="24" CONTENT="Washington" WIDTH="108" HPOS="437" VPOS="1228" ID="st12-509"/><String HEIGHT="24" CONTENT="," WIDTH="11" HPOS="545" VPOS="1228" ID="st12-510"/></TextLine><TextLine HPOS="562" VPOS="1233" ID="tl12-48" WIDTH="27" HEIGHT="12"><String HEIGHT="12" CONTENT="dc" WIDTH="27" HPOS="562" VPOS="1233" ID="st12-511"/></TextLine><TextLine HPOS="589" VPOS="1228" ID="tl12-49" WIDTH="7" HEIGHT="24"><String HEIGHT="24" CONTENT=":" WIDTH="7" HPOS="589" VPOS="1228" ID="st12-512"/></TextLine><TextLine HPOS="602" VPOS="1233" ID="tl12-50" WIDTH="37" HEIGHT="12"><String HEIGHT="12" CONTENT="imf" WIDTH="37" HPOS="602" VPOS="1233" ID="st12-513"/></TextLine><TextLine HPOS="639" VPOS="1228" ID="tl12-51" WIDTH="6" HEIGHT="24"><String HEIGHT="24" CONTENT="." WIDTH="6" HPOS="639" VPOS="1228" ID="st12-514"/></TextLine><TextLine HPOS="94" VPOS="1256" ID="tl12-52" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="31" WIDTH="15" HPOS="94" VPOS="1256" ID="st12-515"/><String HEIGHT="24" CONTENT="." WIDTH="8" HPOS="109" VPOS="1256" ID="st12-516"/><SP/><String HEIGHT="24" CONTENT="Kose" WIDTH="42" HPOS="129" VPOS="1256" ID="st12-517"/><String HEIGHT="24" CONTENT="," WIDTH="11" HPOS="171" VPOS="1256" ID="st12-518"/><SP/><String HEIGHT="24" CONTENT="M" WIDTH="11" HPOS="187" VPOS="1256" ID="st12-519"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="198" VPOS="1256" ID="st12-520"/><String HEIGHT="24" CONTENT="A" WIDTH="11" HPOS="209" VPOS="1256" ID="st12-521"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="220" VPOS="1256" ID="st12-522"/><String HEIGHT="24" CONTENT="," WIDTH="12" HPOS="231" VPOS="1256" ID="st12-523"/><SP/><String HEIGHT="24" CONTENT="E" WIDTH="10" HPOS="248" VPOS="1256" ID="st12-524"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="258" VPOS="1256" ID="st12-525"/><SP/><String HEIGHT="24" CONTENT="Prasad" WIDTH="58" HPOS="274" VPOS="1256" ID="st12-526"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="332" VPOS="1256" ID="st12-527"/><SP/><String HEIGHT="24" CONTENT="K" WIDTH="11" HPOS="347" VPOS="1256" ID="st12-528"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="358" VPOS="1256" ID="st12-529"/><SP/><String HEIGHT="24" CONTENT="Rogoff" WIDTH="61" HPOS="375" VPOS="1256" ID="st12-530"/><String HEIGHT="24" CONTENT="," WIDTH="11" HPOS="436" VPOS="1256" ID="st12-531"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="35" HPOS="452" VPOS="1256" ID="st12-532"/><SP/><String HEIGHT="24" CONTENT="S" WIDTH="7" HPOS="492" VPOS="1256" ID="st12-533"/><String HEIGHT="24" CONTENT="." WIDTH="8" HPOS="499" VPOS="1256" ID="st12-534"/><String HEIGHT="24" CONTENT="-" WIDTH="7" HPOS="507" VPOS="1256" ID="st12-535"/><String HEIGHT="24" CONTENT="J" WIDTH="8" HPOS="514" VPOS="1256" ID="st12-536"/><String HEIGHT="24" CONTENT="." WIDTH="8" HPOS="522" VPOS="1256" ID="st12-537"/><SP/><String HEIGHT="24" CONTENT="Wei" WIDTH="37" HPOS="535" VPOS="1256" ID="st12-538"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="577" VPOS="1256" ID="st12-539"/><String HEIGHT="24" CONTENT="2007" WIDTH="40" HPOS="587" VPOS="1256" ID="st12-540"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="627" VPOS="1256" ID="st12-541"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="637" VPOS="1256" ID="st12-542"/><String HEIGHT="24" CONTENT="»" WIDTH="9" HPOS="653" VPOS="1256" ID="st12-543"/><String HEIGHT="24" CONTENT="Financial" WIDTH="87" HPOS="662" VPOS="1256" ID="st12-544"/><SP/><String HEIGHT="24" CONTENT="Globalization" WIDTH="125" HPOS="754" VPOS="1256" ID="st12-545"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="879" VPOS="1256" ID="st12-546"/></TextLine><TextLine HPOS="129" VPOS="1284" ID="tl12-53" WIDTH="719" HEIGHT="23"><String HEIGHT="23" CONTENT="Beyond" WIDTH="72" HPOS="129" VPOS="1284" ID="st12-547"/><SP/><String HEIGHT="23" CONTENT="the" WIDTH="29" HPOS="208" VPOS="1284" ID="st12-548"/><SP/><String HEIGHT="23" CONTENT="Blame" WIDTH="58" HPOS="244" VPOS="1284" ID="st12-549"/><SP/><String HEIGHT="23" CONTENT="Game," WIDTH="60" HPOS="309" VPOS="1284" ID="st12-550"/><String HEIGHT="23" CONTENT="«" WIDTH="12" HPOS="369" VPOS="1284" ID="st12-551"/><SP/><String HEIGHT="23" CONTENT="in" WIDTH="17" HPOS="387" VPOS="1284" ID="st12-552"/><String HEIGHT="23" CONTENT=":" WIDTH="9" HPOS="404" VPOS="1284" ID="st12-553"/><SP/><String HEIGHT="22" CONTENT="Finance" WIDTH="70" HPOS="419" VPOS="1285" ID="st12-554"/><SP/><String HEIGHT="22" CONTENT="and" WIDTH="34" HPOS="496" VPOS="1285" ID="st12-555"/><SP/><String HEIGHT="22" CONTENT="Development" WIDTH="107" HPOS="537" VPOS="1285" ID="st12-556"/><String HEIGHT="22" CONTENT="," WIDTH="10" HPOS="644" VPOS="1285" ID="st12-557"/><SP/><String HEIGHT="23" CONTENT="44" WIDTH="26" HPOS="660" VPOS="1284" ID="st12-558"/><String HEIGHT="23" CONTENT="(" WIDTH="7" HPOS="692" VPOS="1284" ID="st12-559"/><String HEIGHT="23" CONTENT="1" WIDTH="8" HPOS="699" VPOS="1284" ID="st12-560"/><String HEIGHT="23" CONTENT=")" WIDTH="8" HPOS="707" VPOS="1284" ID="st12-561"/><String HEIGHT="23" CONTENT="," WIDTH="8" HPOS="715" VPOS="1284" ID="st12-562"/><SP/><String HEIGHT="23" CONTENT="Washington" WIDTH="108" HPOS="729" VPOS="1284" ID="st12-563"/><String HEIGHT="23" CONTENT="," WIDTH="11" HPOS="837" VPOS="1284" ID="st12-564"/></TextLine><TextLine HPOS="855" VPOS="1289" ID="tl12-54" WIDTH="27" HEIGHT="12"><String HEIGHT="12" CONTENT="dc" WIDTH="27" HPOS="855" VPOS="1289" ID="st12-565"/></TextLine><TextLine HPOS="882" VPOS="1284" ID="tl12-55" WIDTH="7" HEIGHT="23"><String HEIGHT="23" CONTENT=":" WIDTH="7" HPOS="882" VPOS="1284" ID="st12-566"/></TextLine><TextLine HPOS="129" VPOS="1317" ID="tl12-56" WIDTH="37" HEIGHT="12"><String HEIGHT="12" CONTENT="imf" WIDTH="37" HPOS="129" VPOS="1317" ID="st12-567"/></TextLine><TextLine HPOS="166" VPOS="1311" ID="tl12-57" WIDTH="6" HEIGHT="24"><String HEIGHT="24" CONTENT="." WIDTH="6" HPOS="166" VPOS="1311" ID="st12-568"/></TextLine><TextLine HPOS="94" VPOS="1388" ID="tl12-58" WIDTH="23" HEIGHT="29"><String HEIGHT="29" CONTENT="38" WIDTH="23" HPOS="94" VPOS="1388" ID="st12-569"/></TextLine><TextLine HPOS="137" VPOS="1395" ID="tl12-59" WIDTH="152" HEIGHT="18"><String HEIGHT="18" CONTENT="Sapir" WIDTH="33" HPOS="137" VPOS="1395" ID="st12-570"/><String HEIGHT="18" CONTENT="," WIDTH="7" HPOS="170" VPOS="1395" ID="st12-571"/><SP/><String HEIGHT="18" CONTENT="Financial" WIDTH="65" HPOS="181" VPOS="1395" ID="st12-572"/><SP/><String HEIGHT="18" CONTENT="Crisis" WIDTH="39" HPOS="250" VPOS="1395" ID="st12-573"/></TextLine><TextLine HPOS="799" VPOS="1398" ID="tl12-60" WIDTH="29" HEIGHT="11"><String HEIGHT="11" CONTENT="ipg" WIDTH="29" HPOS="799" VPOS="1398" ID="st12-574"/></TextLine><TextLine HPOS="833" VPOS="1394" ID="tl12-61" WIDTH="56" HEIGHT="21"><String HEIGHT="21" CONTENT="1/2009" WIDTH="56" HPOS="833" VPOS="1394" ID="st12-575"/></TextLine></TextBlock></PrintSpace></Page><Page WIDTH="984" PHYSICAL_IMG_NR="13" ID="p658181" HEIGHT="1472"><PrintSpace WIDTH="984" HPOS="0" VPOS="0" ID="ps658181" HEIGHT="1472"><TextBlock WIDTH="984" HPOS="0" VPOS="0" ID="tb658181" HEIGHT="1472"><TextLine HPOS="129" VPOS="94" ID="tl13-0" WIDTH="705" HEIGHT="28"><String HEIGHT="28" CONTENT="These" WIDTH="65" HPOS="129" VPOS="94" ID="st13-0"/><SP/><String HEIGHT="28" CONTENT="positions" WIDTH="100" HPOS="199" VPOS="94" ID="st13-1"/><SP/><String HEIGHT="28" CONTENT="are" WIDTH="33" HPOS="304" VPOS="94" ID="st13-2"/><SP/><String HEIGHT="28" CONTENT="now" WIDTH="48" HPOS="342" VPOS="94" ID="st13-3"/><SP/><String HEIGHT="28" CONTENT="held" WIDTH="48" HPOS="395" VPOS="94" ID="st13-4"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="27" HPOS="448" VPOS="94" ID="st13-5"/><SP/><String HEIGHT="28" CONTENT="authors" WIDTH="83" HPOS="480" VPOS="94" ID="st13-6"/><SP/><String HEIGHT="28" CONTENT="belonging" WIDTH="112" HPOS="567" VPOS="94" ID="st13-7"/><SP/><String HEIGHT="28" CONTENT="or" WIDTH="25" HPOS="683" VPOS="94" ID="st13-8"/><SP/><String HEIGHT="28" CONTENT="close" WIDTH="53" HPOS="713" VPOS="94" ID="st13-9"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="771" VPOS="94" ID="st13-10"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="799" VPOS="94" ID="st13-11"/></TextLine><TextLine HPOS="839" VPOS="100" ID="tl13-1" WIDTH="43" HEIGHT="15"><String HEIGHT="15" CONTENT="imf" WIDTH="43" HPOS="839" VPOS="100" ID="st13-12"/></TextLine><TextLine HPOS="882" VPOS="94" ID="tl13-2" WIDTH="7" HEIGHT="28"><String HEIGHT="28" CONTENT="." WIDTH="7" HPOS="882" VPOS="94" ID="st13-13"/></TextLine><TextLine HPOS="94" VPOS="126" ID="tl13-3" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="It" WIDTH="19" HPOS="94" VPOS="126" ID="st13-14"/><SP/><String HEIGHT="28" CONTENT="has" WIDTH="36" HPOS="122" VPOS="126" ID="st13-15"/><SP/><String HEIGHT="28" CONTENT="been" WIDTH="53" HPOS="167" VPOS="126" ID="st13-16"/><SP/><String HEIGHT="28" CONTENT="convincingly" WIDTH="142" HPOS="229" VPOS="126" ID="st13-17"/><SP/><String HEIGHT="28" CONTENT="argued" WIDTH="76" HPOS="380" VPOS="126" ID="st13-18"/><SP/><String HEIGHT="28" CONTENT="for" WIDTH="33" HPOS="465" VPOS="126" ID="st13-19"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="507" VPOS="126" ID="st13-20"/><SP/><String HEIGHT="28" CONTENT="last" WIDTH="37" HPOS="551" VPOS="126" ID="st13-21"/><SP/><String HEIGHT="28" CONTENT="ten" WIDTH="36" HPOS="597" VPOS="126" ID="st13-22"/><SP/><String HEIGHT="28" CONTENT="years" WIDTH="55" HPOS="642" VPOS="126" ID="st13-23"/><SP/><String HEIGHT="28" CONTENT="that" WIDTH="44" HPOS="706" VPOS="126" ID="st13-24"/><SP/><String HEIGHT="28" CONTENT="capital" WIDTH="72" HPOS="759" VPOS="126" ID="st13-25"/><SP/><String HEIGHT="28" CONTENT="flow" WIDTH="49" HPOS="840" VPOS="126" ID="st13-26"/></TextLine><TextLine HPOS="94" VPOS="158" ID="tl13-4" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="controls" WIDTH="90" HPOS="94" VPOS="158" ID="st13-27"/><SP/><String HEIGHT="28" CONTENT="would" WIDTH="71" HPOS="191" VPOS="158" ID="st13-28"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="269" VPOS="158" ID="st13-29"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="302" VPOS="158" ID="st13-30"/><SP/><String HEIGHT="28" CONTENT="cheaper" WIDTH="85" HPOS="321" VPOS="158" ID="st13-31"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="413" VPOS="158" ID="st13-32"/><SP/><String HEIGHT="28" CONTENT="more" WIDTH="58" HPOS="461" VPOS="158" ID="st13-33"/><SP/><String HEIGHT="28" CONTENT="effective" WIDTH="91" HPOS="526" VPOS="158" ID="st13-34"/><SP/><String HEIGHT="28" CONTENT="way" WIDTH="44" HPOS="624" VPOS="158" ID="st13-35"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="675" VPOS="158" ID="st13-36"/><SP/><String HEIGHT="28" CONTENT="enhancing" WIDTH="114" HPOS="705" VPOS="158" ID="st13-37"/><SP/><String HEIGHT="28" CONTENT="stable" WIDTH="63" HPOS="826" VPOS="158" ID="st13-38"/></TextLine><TextLine HPOS="94" VPOS="190" ID="tl13-5" WIDTH="672" HEIGHT="28"><String HEIGHT="28" CONTENT="growth" WIDTH="82" HPOS="94" VPOS="190" ID="st13-39"/><SP/><String HEIGHT="28" CONTENT="for" WIDTH="33" HPOS="182" VPOS="190" ID="st13-40"/><SP/><String HEIGHT="28" CONTENT="emerging" WIDTH="106" HPOS="221" VPOS="190" ID="st13-41"/><SP/><String HEIGHT="28" CONTENT="economies" WIDTH="118" HPOS="333" VPOS="190" ID="st13-42"/><SP/><String HEIGHT="28" CONTENT="than" WIDTH="50" HPOS="458" VPOS="190" ID="st13-43"/><SP/><String HEIGHT="28" CONTENT="financial" WIDTH="94" HPOS="514" VPOS="190" ID="st13-44"/><SP/><String HEIGHT="28" CONTENT="globalization" WIDTH="141" HPOS="614" VPOS="190" ID="st13-45"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="755" VPOS="190" ID="st13-46"/></TextLine><TextLine HPOS="766" VPOS="188" ID="tl13-6" WIDTH="17" HEIGHT="20"><String HEIGHT="20" CONTENT="32" WIDTH="17" HPOS="766" VPOS="188" ID="st13-47"/></TextLine><TextLine HPOS="129" VPOS="222" ID="tl13-7" WIDTH="760" HEIGHT="28"><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="129" VPOS="222" ID="st13-48"/><SP/><String HEIGHT="28" CONTENT="liberalization" WIDTH="145" HPOS="178" VPOS="222" ID="st13-49"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="328" VPOS="222" ID="st13-50"/><SP/><String HEIGHT="28" CONTENT="financial" WIDTH="94" HPOS="356" VPOS="222" ID="st13-51"/><SP/><String HEIGHT="28" CONTENT="markets" WIDTH="87" HPOS="455" VPOS="222" ID="st13-52"/><SP/><String HEIGHT="28" CONTENT="has" WIDTH="36" HPOS="547" VPOS="222" ID="st13-53"/><SP/><String HEIGHT="28" CONTENT="certainly" WIDTH="94" HPOS="589" VPOS="222" ID="st13-54"/><SP/><String HEIGHT="28" CONTENT="been" WIDTH="53" HPOS="688" VPOS="222" ID="st13-55"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="746" VPOS="222" ID="st13-56"/><SP/><String HEIGHT="28" CONTENT="major" WIDTH="65" HPOS="763" VPOS="222" ID="st13-57"/><SP/><String HEIGHT="28" CONTENT="force" WIDTH="55" HPOS="834" VPOS="222" ID="st13-58"/></TextLine><TextLine HPOS="94" VPOS="254" ID="tl13-8" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="generating" WIDTH="118" HPOS="94" VPOS="254" ID="st13-59"/><SP/><String HEIGHT="28" CONTENT="instability" WIDTH="109" HPOS="218" VPOS="254" ID="st13-60"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="333" VPOS="254" ID="st13-61"/><SP/><String HEIGHT="28" CONTENT="emerging" WIDTH="105" HPOS="362" VPOS="254" ID="st13-62"/><SP/><String HEIGHT="28" CONTENT="economies" WIDTH="118" HPOS="474" VPOS="254" ID="st13-63"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="598" VPOS="254" ID="st13-64"/><SP/><String HEIGHT="28" CONTENT="has" WIDTH="36" HPOS="646" VPOS="254" ID="st13-65"/><SP/><String HEIGHT="28" CONTENT="pushed" WIDTH="80" HPOS="688" VPOS="254" ID="st13-66"/><SP/><String HEIGHT="28" CONTENT="some" WIDTH="58" HPOS="775" VPOS="254" ID="st13-67"/><SP/><String HEIGHT="28" CONTENT="gov" WIDTH="37" HPOS="840" VPOS="254" ID="st13-68" SUBS_TYPE="HypPart1" SUBS_CONTENT="governments"/><HYP CONTENT="-" WIDTH="12" HPOS="877" VPOS="254" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="286" ID="tl13-9" WIDTH="595" HEIGHT="28"><String HEIGHT="28" CONTENT="ernments" WIDTH="103" HPOS="94" VPOS="286" ID="st13-69" SUBS_TYPE="HypPart2" SUBS_CONTENT="governments"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="24" HPOS="204" VPOS="286" ID="st13-70"/><SP/><String HEIGHT="28" CONTENT="adopt" WIDTH="65" HPOS="234" VPOS="286" ID="st13-71"/><SP/><String HEIGHT="28" CONTENT="mercantilist" WIDTH="130" HPOS="305" VPOS="286" ID="st13-72"/><SP/><String HEIGHT="28" CONTENT="policies" WIDTH="83" HPOS="442" VPOS="286" ID="st13-73"/><SP/><String HEIGHT="28" CONTENT="for" WIDTH="32" HPOS="532" VPOS="286" ID="st13-74"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="571" VPOS="286" ID="st13-75"/><SP/><String HEIGHT="28" CONTENT="sake" WIDTH="46" HPOS="613" VPOS="286" ID="st13-76"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="666" VPOS="286" ID="st13-77"/></TextLine><TextLine HPOS="695" VPOS="292" ID="tl13-10" WIDTH="75" HEIGHT="14"><String HEIGHT="14" CONTENT="forex" WIDTH="75" HPOS="695" VPOS="292" ID="st13-78"/></TextLine><TextLine HPOS="776" VPOS="286" ID="tl13-11" WIDTH="113" HEIGHT="28"><String HEIGHT="28" CONTENT="accumula" WIDTH="101" HPOS="776" VPOS="286" ID="st13-79" SUBS_TYPE="HypPart1" SUBS_CONTENT="accumulation"/><HYP CONTENT="-" WIDTH="12" HPOS="877" VPOS="286" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="318" ID="tl13-12" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="tion" WIDTH="43" HPOS="94" VPOS="318" ID="st13-80" SUBS_TYPE="HypPart2" SUBS_CONTENT="accumulation"/><String HEIGHT="28" CONTENT=";" WIDTH="11" HPOS="137" VPOS="318" ID="st13-81"/><SP/><String HEIGHT="28" CONTENT="Jörg" WIDTH="49" HPOS="153" VPOS="318" ID="st13-82"/><SP/><String HEIGHT="28" CONTENT="Bibow" WIDTH="73" HPOS="207" VPOS="318" ID="st13-83"/><SP/><String HEIGHT="28" CONTENT="has" WIDTH="36" HPOS="286" VPOS="318" ID="st13-84"/><SP/><String HEIGHT="28" CONTENT="rightly" WIDTH="73" HPOS="327" VPOS="318" ID="st13-85"/><SP/><String HEIGHT="28" CONTENT="pointed" WIDTH="87" HPOS="405" VPOS="318" ID="st13-86"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="497" VPOS="318" ID="st13-87"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="525" VPOS="318" ID="st13-88"/><SP/><String HEIGHT="28" CONTENT="relevance" WIDTH="101" HPOS="566" VPOS="318" ID="st13-89"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="672" VPOS="318" ID="st13-90"/><SP/><String HEIGHT="28" CONTENT="Keynesian" WIDTH="113" HPOS="700" VPOS="318" ID="st13-91"/><SP/><String HEIGHT="28" CONTENT="theory" WIDTH="71" HPOS="818" VPOS="318" ID="st13-92"/></TextLine><TextLine HPOS="94" VPOS="350" ID="tl13-13" WIDTH="150" HEIGHT="28"><String HEIGHT="28" CONTENT="on" WIDTH="29" HPOS="94" VPOS="350" ID="st13-93"/><SP/><String HEIGHT="28" CONTENT="this" WIDTH="40" HPOS="130" VPOS="350" ID="st13-94"/><SP/><String HEIGHT="28" CONTENT="point" WIDTH="55" HPOS="177" VPOS="350" ID="st13-95"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="232" VPOS="350" ID="st13-96"/></TextLine><TextLine HPOS="244" VPOS="347" ID="tl13-14" WIDTH="16" HEIGHT="21"><String HEIGHT="21" CONTENT="33" WIDTH="16" HPOS="244" VPOS="347" ID="st13-97"/></TextLine><TextLine HPOS="129" VPOS="381" ID="tl13-15" WIDTH="760" HEIGHT="29"><String HEIGHT="29" CONTENT="No" WIDTH="37" HPOS="129" VPOS="381" ID="st13-98"/><SP/><String HEIGHT="29" CONTENT="one" WIDTH="41" HPOS="173" VPOS="381" ID="st13-99"/><SP/><String HEIGHT="29" CONTENT="would" WIDTH="71" HPOS="221" VPOS="381" ID="st13-100"/><SP/><String HEIGHT="29" CONTENT="deny" WIDTH="54" HPOS="299" VPOS="381" ID="st13-101"/><SP/><String HEIGHT="29" CONTENT="that" WIDTH="44" HPOS="359" VPOS="381" ID="st13-102"/><SP/><String HEIGHT="29" CONTENT="strengthening" WIDTH="154" HPOS="410" VPOS="381" ID="st13-103"/><SP/><String HEIGHT="29" CONTENT="prudential" WIDTH="114" HPOS="571" VPOS="381" ID="st13-104"/><SP/><String HEIGHT="29" CONTENT="regulations" WIDTH="124" HPOS="692" VPOS="381" ID="st13-105"/><SP/><String HEIGHT="29" CONTENT="is" WIDTH="17" HPOS="823" VPOS="381" ID="st13-106"/><SP/><String HEIGHT="29" CONTENT="bet" WIDTH="32" HPOS="847" VPOS="381" ID="st13-107" SUBS_TYPE="HypPart1" SUBS_CONTENT="better"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="381" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="413" ID="tl13-16" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="ter" WIDTH="30" HPOS="94" VPOS="413" ID="st13-108" SUBS_TYPE="HypPart2" SUBS_CONTENT="better"/><SP/><String HEIGHT="29" CONTENT="than" WIDTH="50" HPOS="130" VPOS="413" ID="st13-109"/><SP/><String HEIGHT="29" CONTENT="relaxing" WIDTH="88" HPOS="186" VPOS="413" ID="st13-110"/><SP/><String HEIGHT="29" CONTENT="them" WIDTH="52" HPOS="279" VPOS="413" ID="st13-111"/><String HEIGHT="29" CONTENT="." WIDTH="13" HPOS="331" VPOS="413" ID="st13-112"/><SP/><String HEIGHT="29" CONTENT="But" WIDTH="41" HPOS="350" VPOS="413" ID="st13-113"/><SP/><String HEIGHT="29" CONTENT="they" WIDTH="47" HPOS="397" VPOS="413" ID="st13-114"/><SP/><String HEIGHT="29" CONTENT="are" WIDTH="33" HPOS="450" VPOS="413" ID="st13-115"/><SP/><String HEIGHT="29" CONTENT="not" WIDTH="38" HPOS="489" VPOS="413" ID="st13-116"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="533" VPOS="413" ID="st13-117"/><SP/><String HEIGHT="29" CONTENT="solution" WIDTH="88" HPOS="574" VPOS="413" ID="st13-118"/><String HEIGHT="29" CONTENT="." WIDTH="11" HPOS="662" VPOS="413" ID="st13-119"/><SP/><String HEIGHT="29" CONTENT="Questioning" WIDTH="139" HPOS="679" VPOS="413" ID="st13-120"/><SP/><String HEIGHT="29" CONTENT="finan" WIDTH="55" HPOS="824" VPOS="413" ID="st13-121" SUBS_TYPE="HypPart1" SUBS_CONTENT="financial"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="413" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="445" ID="tl13-17" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="cial" WIDTH="37" HPOS="94" VPOS="445" ID="st13-122" SUBS_TYPE="HypPart2" SUBS_CONTENT="financial"/><SP/><String HEIGHT="29" CONTENT="liberalization" WIDTH="146" HPOS="141" VPOS="445" ID="st13-123"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="42" HPOS="296" VPOS="445" ID="st13-124"/><SP/><String HEIGHT="29" CONTENT="globalization" WIDTH="147" HPOS="347" VPOS="445" ID="st13-125"/><SP/><String HEIGHT="29" CONTENT="as" WIDTH="22" HPOS="503" VPOS="445" ID="st13-126"/><SP/><String HEIGHT="29" CONTENT="they" WIDTH="49" HPOS="534" VPOS="445" ID="st13-127"/><SP/><String HEIGHT="29" CONTENT="have" WIDTH="51" HPOS="592" VPOS="445" ID="st13-128"/><SP/><String HEIGHT="29" CONTENT="evolved" WIDTH="86" HPOS="653" VPOS="445" ID="st13-129"/><SP/><String HEIGHT="29" CONTENT="over" WIDTH="49" HPOS="748" VPOS="445" ID="st13-130"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="807" VPOS="445" ID="st13-131"/><SP/><String HEIGHT="29" CONTENT="last" WIDTH="37" HPOS="852" VPOS="445" ID="st13-132"/></TextLine><TextLine HPOS="94" VPOS="477" ID="tl13-18" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="20" WIDTH="28" HPOS="94" VPOS="477" ID="st13-133"/><SP/><String HEIGHT="29" CONTENT="years" WIDTH="55" HPOS="127" VPOS="477" ID="st13-134"/><SP/><String HEIGHT="29" CONTENT="is" WIDTH="17" HPOS="187" VPOS="477" ID="st13-135"/><SP/><String HEIGHT="29" CONTENT="probably" WIDTH="100" HPOS="209" VPOS="477" ID="st13-136"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="11" HPOS="314" VPOS="477" ID="st13-137"/><SP/><String HEIGHT="29" CONTENT="better" WIDTH="65" HPOS="331" VPOS="477" ID="st13-138"/><SP/><String HEIGHT="29" CONTENT="starting" WIDTH="84" HPOS="401" VPOS="477" ID="st13-139"/><SP/><String HEIGHT="29" CONTENT="point" WIDTH="56" HPOS="490" VPOS="477" ID="st13-140"/><String HEIGHT="29" CONTENT="." WIDTH="12" HPOS="546" VPOS="477" ID="st13-141"/><SP/><String HEIGHT="29" CONTENT="However" WIDTH="96" HPOS="563" VPOS="477" ID="st13-142"/><String HEIGHT="29" CONTENT="," WIDTH="14" HPOS="659" VPOS="477" ID="st13-143"/><SP/><String HEIGHT="29" CONTENT="even" WIDTH="51" HPOS="678" VPOS="477" ID="st13-144"/><SP/><String HEIGHT="29" CONTENT="if" WIDTH="15" HPOS="734" VPOS="477" ID="st13-145"/><SP/><String HEIGHT="29" CONTENT="some" WIDTH="59" HPOS="754" VPOS="477" ID="st13-146"/><SP/><String HEIGHT="29" CONTENT="capital" WIDTH="71" HPOS="818" VPOS="477" ID="st13-147"/></TextLine><TextLine HPOS="94" VPOS="509" ID="tl13-19" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="flow" WIDTH="50" HPOS="94" VPOS="509" ID="st13-148"/><SP/><String HEIGHT="29" CONTENT="restrictions" WIDTH="123" HPOS="150" VPOS="509" ID="st13-149"/><SP/><String HEIGHT="29" CONTENT="are" WIDTH="33" HPOS="280" VPOS="509" ID="st13-150"/><SP/><String HEIGHT="29" CONTENT="introduced" WIDTH="122" HPOS="320" VPOS="509" ID="st13-151"/><SP/><String HEIGHT="29" CONTENT="in" WIDTH="22" HPOS="448" VPOS="509" ID="st13-152"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="477" VPOS="509" ID="st13-153"/><SP/><String HEIGHT="29" CONTENT="coming" WIDTH="84" HPOS="518" VPOS="509" ID="st13-154"/><SP/><String HEIGHT="29" CONTENT="months" WIDTH="78" HPOS="609" VPOS="509" ID="st13-155"/><String HEIGHT="29" CONTENT="," WIDTH="14" HPOS="687" VPOS="509" ID="st13-156"/><SP/><String HEIGHT="29" CONTENT="as" WIDTH="21" HPOS="708" VPOS="509" ID="st13-157"/><SP/><String HEIGHT="29" CONTENT="was" WIDTH="41" HPOS="736" VPOS="509" ID="st13-158"/><SP/><String HEIGHT="29" CONTENT="done" WIDTH="56" HPOS="783" VPOS="509" ID="st13-159"/><SP/><String HEIGHT="29" CONTENT="suc" WIDTH="33" HPOS="846" VPOS="509" ID="st13-160" SUBS_TYPE="HypPart1" SUBS_CONTENT="successfully"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="509" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="541" ID="tl13-20" WIDTH="422" HEIGHT="28"><String HEIGHT="28" CONTENT="cessfully" WIDTH="92" HPOS="94" VPOS="541" ID="st13-161" SUBS_TYPE="HypPart2" SUBS_CONTENT="successfully"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="192" VPOS="541" ID="st13-162"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="221" VPOS="541" ID="st13-163"/><SP/><String HEIGHT="28" CONTENT="wake" WIDTH="57" HPOS="262" VPOS="541" ID="st13-164"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="325" VPOS="541" ID="st13-165"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="355" VPOS="541" ID="st13-166"/><SP/><String HEIGHT="28" CONTENT="1998" WIDTH="50" HPOS="396" VPOS="541" ID="st13-167"/><SP/><String HEIGHT="28" CONTENT="crash" WIDTH="53" HPOS="452" VPOS="541" ID="st13-168"/><String HEIGHT="28" CONTENT="," WIDTH="11" HPOS="505" VPOS="541" ID="st13-169"/></TextLine><TextLine HPOS="516" VPOS="539" ID="tl13-21" WIDTH="19" HEIGHT="20"><String HEIGHT="20" CONTENT="34" WIDTH="19" HPOS="516" VPOS="539" ID="st13-170"/></TextLine><TextLine HPOS="541" VPOS="541" ID="tl13-22" WIDTH="294" HEIGHT="28"><String HEIGHT="28" CONTENT="this" WIDTH="41" HPOS="541" VPOS="541" ID="st13-171"/><SP/><String HEIGHT="28" CONTENT="would" WIDTH="71" HPOS="588" VPOS="541" ID="st13-172"/><SP/><String HEIGHT="28" CONTENT="not" WIDTH="38" HPOS="666" VPOS="541" ID="st13-173"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="711" VPOS="541" ID="st13-174"/><SP/><String HEIGHT="28" CONTENT="enough" WIDTH="78" HPOS="744" VPOS="541" ID="st13-175"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="822" VPOS="541" ID="st13-176"/></TextLine><TextLine HPOS="94" VPOS="637" ID="tl13-23" WIDTH="403" HEIGHT="27"><String HEIGHT="27" CONTENT="Addressing" WIDTH="145" HPOS="94" VPOS="637" ID="st13-177"/><SP/><String HEIGHT="27" CONTENT="Wage" WIDTH="61" HPOS="245" VPOS="637" ID="st13-178"/><String HEIGHT="27" CONTENT="-" WIDTH="15" HPOS="306" VPOS="637" ID="st13-179"/><String HEIGHT="27" CONTENT="led" WIDTH="46" HPOS="321" VPOS="637" ID="st13-180"/><SP/><String HEIGHT="27" CONTENT="Deflation" WIDTH="122" HPOS="375" VPOS="637" ID="st13-181"/></TextLine><TextLine HPOS="94" VPOS="701" ID="tl13-24" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="Wage" WIDTH="52" HPOS="94" VPOS="701" ID="st13-182"/><String HEIGHT="28" CONTENT="-" WIDTH="13" HPOS="146" VPOS="701" ID="st13-183"/><String HEIGHT="28" CONTENT="led" WIDTH="39" HPOS="159" VPOS="701" ID="st13-184"/><SP/><String HEIGHT="28" CONTENT="deflation" WIDTH="98" HPOS="203" VPOS="701" ID="st13-185"/><SP/><String HEIGHT="28" CONTENT="has" WIDTH="36" HPOS="307" VPOS="701" ID="st13-186"/><SP/><String HEIGHT="28" CONTENT="played" WIDTH="72" HPOS="348" VPOS="701" ID="st13-187"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="425" VPOS="701" ID="st13-188"/><SP/><String HEIGHT="28" CONTENT="decisive" WIDTH="86" HPOS="442" VPOS="701" ID="st13-189"/><SP/><String HEIGHT="28" CONTENT="role" WIDTH="43" HPOS="534" VPOS="701" ID="st13-190"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="582" VPOS="701" ID="st13-191"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="609" VPOS="701" ID="st13-192"/><SP/><String HEIGHT="28" CONTENT="developments" WIDTH="154" HPOS="649" VPOS="701" ID="st13-193"/><SP/><String HEIGHT="28" CONTENT="leading" WIDTH="80" HPOS="809" VPOS="701" ID="st13-194"/></TextLine><TextLine HPOS="94" VPOS="733" ID="tl13-25" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="94" VPOS="733" ID="st13-195"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="123" VPOS="733" ID="st13-196"/><SP/><String HEIGHT="28" CONTENT="current" WIDTH="80" HPOS="164" VPOS="733" ID="st13-197"/><SP/><String HEIGHT="28" CONTENT="turmoil" WIDTH="80" HPOS="250" VPOS="733" ID="st13-198"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="330" VPOS="733" ID="st13-199"/><SP/><String HEIGHT="28" CONTENT="As" WIDTH="28" HPOS="347" VPOS="733" ID="st13-200"/><SP/><String HEIGHT="28" CONTENT="household" WIDTH="116" HPOS="381" VPOS="733" ID="st13-201"/><SP/><String HEIGHT="28" CONTENT="credit" WIDTH="63" HPOS="503" VPOS="733" ID="st13-202"/><SP/><String HEIGHT="28" CONTENT="will" WIDTH="41" HPOS="572" VPOS="733" ID="st13-203"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="27" HPOS="618" VPOS="733" ID="st13-204"/><SP/><String HEIGHT="28" CONTENT="relatively" WIDTH="100" HPOS="650" VPOS="733" ID="st13-205"/><SP/><String HEIGHT="28" CONTENT="scarce" WIDTH="65" HPOS="756" VPOS="733" ID="st13-206"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="21" HPOS="827" VPOS="733" ID="st13-207"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="854" VPOS="733" ID="st13-208"/></TextLine><TextLine HPOS="94" VPOS="765" ID="tl13-26" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="coming" WIDTH="84" HPOS="94" VPOS="765" ID="st13-209"/><SP/><String HEIGHT="28" CONTENT="months" WIDTH="78" HPOS="183" VPOS="765" ID="st13-210"/><String HEIGHT="28" CONTENT="," WIDTH="13" HPOS="261" VPOS="765" ID="st13-211"/><SP/><String HEIGHT="28" CONTENT="reversing" WIDTH="100" HPOS="280" VPOS="765" ID="st13-212"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="385" VPOS="765" ID="st13-213"/><SP/><String HEIGHT="28" CONTENT="profit" WIDTH="62" HPOS="425" VPOS="765" ID="st13-214"/><String HEIGHT="28" CONTENT="-" WIDTH="10" HPOS="487" VPOS="765" ID="st13-215"/><String HEIGHT="28" CONTENT="friendly" WIDTH="84" HPOS="497" VPOS="765" ID="st13-216"/><SP/><String HEIGHT="28" CONTENT="income" WIDTH="81" HPOS="586" VPOS="765" ID="st13-217"/><SP/><String HEIGHT="28" CONTENT="redistribution" WIDTH="153" HPOS="672" VPOS="765" ID="st13-218"/><SP/><String HEIGHT="28" CONTENT="trend" WIDTH="59" HPOS="830" VPOS="765" ID="st13-219"/></TextLine><TextLine HPOS="94" VPOS="797" ID="tl13-27" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="dominant" WIDTH="109" HPOS="94" VPOS="797" ID="st13-220"/><SP/><String HEIGHT="28" CONTENT="since" WIDTH="54" HPOS="209" VPOS="797" ID="st13-221"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="269" VPOS="797" ID="st13-222"/><SP/><String HEIGHT="28" CONTENT="1980s" WIDTH="61" HPOS="310" VPOS="797" ID="st13-223"/><SP/><String HEIGHT="28" CONTENT="will" WIDTH="41" HPOS="377" VPOS="797" ID="st13-224"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="424" VPOS="797" ID="st13-225"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="456" VPOS="797" ID="st13-226"/><SP/><String HEIGHT="28" CONTENT="principal" WIDTH="98" HPOS="497" VPOS="797" ID="st13-227"/><SP/><String HEIGHT="28" CONTENT="cure" WIDTH="47" HPOS="601" VPOS="797" ID="st13-228"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="654" VPOS="797" ID="st13-229"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="36" HPOS="701" VPOS="797" ID="st13-230"/><SP/><String HEIGHT="28" CONTENT="only" WIDTH="48" HPOS="743" VPOS="797" ID="st13-231"/><SP/><String HEIGHT="28" CONTENT="one" WIDTH="42" HPOS="797" VPOS="797" ID="st13-232"/><SP/><String HEIGHT="28" CONTENT="able" WIDTH="44" HPOS="845" VPOS="797" ID="st13-233"/></TextLine><TextLine HPOS="94" VPOS="829" ID="tl13-28" WIDTH="560" HEIGHT="28"><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="94" VPOS="829" ID="st13-234"/><SP/><String HEIGHT="28" CONTENT="give" WIDTH="46" HPOS="124" VPOS="829" ID="st13-235"/><SP/><String HEIGHT="28" CONTENT="developed" WIDTH="114" HPOS="176" VPOS="829" ID="st13-236"/><SP/><String HEIGHT="28" CONTENT="economies" WIDTH="118" HPOS="296" VPOS="829" ID="st13-237"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="421" VPOS="829" ID="st13-238"/><SP/><String HEIGHT="28" CONTENT="stable" WIDTH="63" HPOS="439" VPOS="829" ID="st13-239"/><SP/><String HEIGHT="28" CONTENT="growth" WIDTH="81" HPOS="509" VPOS="829" ID="st13-240"/><SP/><String HEIGHT="28" CONTENT="path" WIDTH="45" HPOS="597" VPOS="829" ID="st13-241"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="642" VPOS="829" ID="st13-242"/></TextLine><TextLine HPOS="129" VPOS="861" ID="tl13-29" WIDTH="760" HEIGHT="28"><String HEIGHT="28" CONTENT="However" WIDTH="96" HPOS="129" VPOS="861" ID="st13-243"/><String HEIGHT="28" CONTENT="," WIDTH="14" HPOS="225" VPOS="861" ID="st13-244"/><SP/><String HEIGHT="28" CONTENT="it" WIDTH="16" HPOS="245" VPOS="861" ID="st13-245"/><SP/><String HEIGHT="28" CONTENT="would" WIDTH="71" HPOS="267" VPOS="861" ID="st13-246"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="345" VPOS="861" ID="st13-247"/><SP/><String HEIGHT="28" CONTENT="vain" WIDTH="46" HPOS="377" VPOS="861" ID="st13-248"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="24" HPOS="429" VPOS="861" ID="st13-249"/><SP/><String HEIGHT="28" CONTENT="expect" WIDTH="70" HPOS="459" VPOS="861" ID="st13-250"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="535" VPOS="861" ID="st13-251"/><SP/><String HEIGHT="28" CONTENT="reversal" WIDTH="84" HPOS="576" VPOS="861" ID="st13-252"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="666" VPOS="861" ID="st13-253"/><SP/><String HEIGHT="28" CONTENT="this" WIDTH="40" HPOS="695" VPOS="861" ID="st13-254"/><SP/><String HEIGHT="28" CONTENT="trend" WIDTH="60" HPOS="741" VPOS="861" ID="st13-255"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="807" VPOS="861" ID="st13-256"/><SP/><String HEIGHT="28" CONTENT="de" WIDTH="24" HPOS="854" VPOS="861" ID="st13-257" SUBS_TYPE="HypPart1" SUBS_CONTENT="decisive"/><HYP CONTENT="-" WIDTH="11" HPOS="878" VPOS="861" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="893" ID="tl13-30" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="cisive" WIDTH="60" HPOS="94" VPOS="893" ID="st13-258" SUBS_TYPE="HypPart2" SUBS_CONTENT="decisive"/><SP/><String HEIGHT="28" CONTENT="action" WIDTH="68" HPOS="160" VPOS="893" ID="st13-259"/><SP/><String HEIGHT="28" CONTENT="against" WIDTH="78" HPOS="234" VPOS="893" ID="st13-260"/><SP/><String HEIGHT="28" CONTENT="wage" WIDTH="49" HPOS="318" VPOS="893" ID="st13-261"/><String HEIGHT="28" CONTENT="-" WIDTH="12" HPOS="367" VPOS="893" ID="st13-262"/><String HEIGHT="28" CONTENT="led" WIDTH="38" HPOS="379" VPOS="893" ID="st13-263"/><SP/><String HEIGHT="28" CONTENT="deflation" WIDTH="98" HPOS="424" VPOS="893" ID="st13-264"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="528" VPOS="893" ID="st13-265"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="557" VPOS="893" ID="st13-266"/><SP/><String HEIGHT="28" CONTENT="free" WIDTH="41" HPOS="575" VPOS="893" ID="st13-267"/><SP/><String HEIGHT="28" CONTENT="trade" WIDTH="56" HPOS="622" VPOS="893" ID="st13-268"/><SP/><String HEIGHT="28" CONTENT="environment" WIDTH="137" HPOS="685" VPOS="893" ID="st13-269"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="822" VPOS="893" ID="st13-270"/><SP/><String HEIGHT="28" CONTENT="One" WIDTH="48" HPOS="841" VPOS="893" ID="st13-271"/></TextLine><TextLine HPOS="94" VPOS="925" ID="tl13-31" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="must" WIDTH="56" HPOS="94" VPOS="925" ID="st13-272"/><SP/><String HEIGHT="28" CONTENT="face" WIDTH="43" HPOS="158" VPOS="925" ID="st13-273"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="209" VPOS="925" ID="st13-274"/><SP/><String HEIGHT="28" CONTENT="reality" WIDTH="68" HPOS="252" VPOS="925" ID="st13-275"/><SP/><String HEIGHT="28" CONTENT="that" WIDTH="44" HPOS="328" VPOS="925" ID="st13-276"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="380" VPOS="925" ID="st13-277"/><SP/><String HEIGHT="28" CONTENT="return" WIDTH="70" HPOS="400" VPOS="925" ID="st13-278"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="24" HPOS="478" VPOS="925" ID="st13-279"/><SP/><String HEIGHT="28" CONTENT="tariffs" WIDTH="63" HPOS="510" VPOS="925" ID="st13-280"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="581" VPOS="925" ID="st13-281"/><SP/><String HEIGHT="28" CONTENT="protectionist" WIDTH="141" HPOS="631" VPOS="925" ID="st13-282"/><SP/><String HEIGHT="28" CONTENT="policies" WIDTH="83" HPOS="781" VPOS="925" ID="st13-283"/><SP/><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="872" VPOS="925" ID="st13-284"/></TextLine><TextLine HPOS="94" VPOS="956" ID="tl13-32" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="94" VPOS="956" ID="st13-285"/><SP/><String HEIGHT="29" CONTENT="only" WIDTH="49" HPOS="135" VPOS="956" ID="st13-286"/><SP/><String HEIGHT="29" CONTENT="way" WIDTH="44" HPOS="190" VPOS="956" ID="st13-287"/><SP/><String HEIGHT="29" CONTENT="not" WIDTH="39" HPOS="239" VPOS="956" ID="st13-288"/><SP/><String HEIGHT="29" CONTENT="just" WIDTH="40" HPOS="283" VPOS="956" ID="st13-289"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="329" VPOS="956" ID="st13-290"/><SP/><String HEIGHT="29" CONTENT="managing" WIDTH="110" HPOS="358" VPOS="956" ID="st13-291"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="474" VPOS="956" ID="st13-292"/><SP/><String HEIGHT="29" CONTENT="consequences" WIDTH="150" HPOS="515" VPOS="956" ID="st13-293"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="671" VPOS="956" ID="st13-294"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="700" VPOS="956" ID="st13-295"/><SP/><String HEIGHT="29" CONTENT="current" WIDTH="80" HPOS="741" VPOS="956" ID="st13-296"/><SP/><String HEIGHT="29" CONTENT="crisis" WIDTH="53" HPOS="827" VPOS="956" ID="st13-297"/><String HEIGHT="29" CONTENT="," WIDTH="9" HPOS="880" VPOS="956" ID="st13-298"/></TextLine><TextLine HPOS="94" VPOS="1034" ID="tl13-33" WIDTH="795" HEIGHT="23"><String HEIGHT="23" CONTENT="32" WIDTH="17" HPOS="94" VPOS="1034" ID="st13-299"/><String HEIGHT="23" CONTENT="." WIDTH="9" HPOS="111" VPOS="1034" ID="st13-300"/><SP/><String HEIGHT="23" CONTENT="Rajan" WIDTH="50" HPOS="129" VPOS="1034" ID="st13-301"/><String HEIGHT="23" CONTENT="," WIDTH="10" HPOS="179" VPOS="1034" ID="st13-302"/><SP/><String HEIGHT="23" CONTENT="R" WIDTH="11" HPOS="194" VPOS="1034" ID="st13-303"/><String HEIGHT="23" CONTENT="." WIDTH="11" HPOS="205" VPOS="1034" ID="st13-304"/><String HEIGHT="23" CONTENT="(" WIDTH="9" HPOS="220" VPOS="1034" ID="st13-305"/><String HEIGHT="23" CONTENT="1999" WIDTH="39" HPOS="229" VPOS="1034" ID="st13-306"/><String HEIGHT="23" CONTENT=")" WIDTH="10" HPOS="268" VPOS="1034" ID="st13-307"/><String HEIGHT="23" CONTENT=":" WIDTH="10" HPOS="278" VPOS="1034" ID="st13-308"/><String HEIGHT="23" CONTENT="»" WIDTH="10" HPOS="292" VPOS="1034" ID="st13-309"/><String HEIGHT="23" CONTENT="Sands" WIDTH="55" HPOS="302" VPOS="1034" ID="st13-310"/><SP/><String HEIGHT="23" CONTENT="in" WIDTH="19" HPOS="361" VPOS="1034" ID="st13-311"/><SP/><String HEIGHT="23" CONTENT="Wheels" WIDTH="68" HPOS="384" VPOS="1034" ID="st13-312"/><SP/><String HEIGHT="23" CONTENT="of" WIDTH="19" HPOS="456" VPOS="1034" ID="st13-313"/><SP/><String HEIGHT="23" CONTENT="International" WIDTH="122" HPOS="479" VPOS="1034" ID="st13-314"/><SP/><String HEIGHT="23" CONTENT="Finance" WIDTH="70" HPOS="606" VPOS="1034" ID="st13-315"/><String HEIGHT="23" CONTENT=":" WIDTH="10" HPOS="676" VPOS="1034" ID="st13-316"/><SP/><String HEIGHT="23" CONTENT="Revisiting" WIDTH="94" HPOS="690" VPOS="1034" ID="st13-317"/><SP/><String HEIGHT="23" CONTENT="the" WIDTH="29" HPOS="789" VPOS="1034" ID="st13-318"/><SP/><String HEIGHT="23" CONTENT="Debate" WIDTH="67" HPOS="822" VPOS="1034" ID="st13-319"/></TextLine><TextLine HPOS="129" VPOS="1061" ID="tl13-34" WIDTH="760" HEIGHT="24"><String HEIGHT="24" CONTENT="in" WIDTH="19" HPOS="129" VPOS="1061" ID="st13-320"/><SP/><String HEIGHT="24" CONTENT="Light" WIDTH="52" HPOS="155" VPOS="1061" ID="st13-321"/><SP/><String HEIGHT="24" CONTENT="of" WIDTH="19" HPOS="215" VPOS="1061" ID="st13-322"/><SP/><String HEIGHT="24" CONTENT="the" WIDTH="29" HPOS="242" VPOS="1061" ID="st13-323"/><SP/><String HEIGHT="24" CONTENT="East" WIDTH="40" HPOS="279" VPOS="1061" ID="st13-324"/><SP/><String HEIGHT="24" CONTENT="Asian" WIDTH="52" HPOS="326" VPOS="1061" ID="st13-325"/><SP/><String HEIGHT="24" CONTENT="Mayhem," WIDTH="85" HPOS="386" VPOS="1061" ID="st13-326"/><String HEIGHT="24" CONTENT="«" WIDTH="13" HPOS="471" VPOS="1061" ID="st13-327"/><SP/><String HEIGHT="24" CONTENT="Institute" WIDTH="80" HPOS="492" VPOS="1061" ID="st13-328"/><SP/><String HEIGHT="24" CONTENT="of" WIDTH="19" HPOS="579" VPOS="1061" ID="st13-329"/><SP/><String HEIGHT="24" CONTENT="Policy" WIDTH="56" HPOS="606" VPOS="1061" ID="st13-330"/><SP/><String HEIGHT="24" CONTENT="Studies" WIDTH="68" HPOS="670" VPOS="1061" ID="st13-331"/><SP/><String HEIGHT="24" CONTENT="working" WIDTH="79" HPOS="746" VPOS="1061" ID="st13-332"/><SP/><String HEIGHT="24" CONTENT="paper" WIDTH="47" HPOS="832" VPOS="1061" ID="st13-333"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="879" VPOS="1061" ID="st13-334"/></TextLine><TextLine HPOS="129" VPOS="1089" ID="tl13-35" WIDTH="760" HEIGHT="24"><String HEIGHT="24" CONTENT="Singapore" WIDTH="95" HPOS="129" VPOS="1089" ID="st13-335"/><String HEIGHT="24" CONTENT="(" WIDTH="9" HPOS="230" VPOS="1089" ID="st13-336"/><String HEIGHT="24" CONTENT="April" WIDTH="45" HPOS="239" VPOS="1089" ID="st13-337"/><String HEIGHT="24" CONTENT=")" WIDTH="9" HPOS="284" VPOS="1089" ID="st13-338"/><String HEIGHT="24" CONTENT=";" WIDTH="9" HPOS="293" VPOS="1089" ID="st13-339"/><SP/><String HEIGHT="24" CONTENT="Rodrik" WIDTH="62" HPOS="308" VPOS="1089" ID="st13-340"/><String HEIGHT="24" CONTENT="," WIDTH="11" HPOS="370" VPOS="1089" ID="st13-341"/><SP/><String HEIGHT="24" CONTENT="D" WIDTH="11" HPOS="387" VPOS="1089" ID="st13-342"/><String HEIGHT="24" CONTENT="." WIDTH="12" HPOS="398" VPOS="1089" ID="st13-343"/><String HEIGHT="24" CONTENT="(" WIDTH="9" HPOS="416" VPOS="1089" ID="st13-344"/><String HEIGHT="24" CONTENT="1998" WIDTH="38" HPOS="425" VPOS="1089" ID="st13-345"/><String HEIGHT="24" CONTENT=")" WIDTH="9" HPOS="463" VPOS="1089" ID="st13-346"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="472" VPOS="1089" ID="st13-347"/><String HEIGHT="24" CONTENT="»" WIDTH="14" HPOS="488" VPOS="1089" ID="st13-348"/><String HEIGHT="24" CONTENT="Who" WIDTH="43" HPOS="502" VPOS="1089" ID="st13-349"/><SP/><String HEIGHT="24" CONTENT="Needs" WIDTH="59" HPOS="551" VPOS="1089" ID="st13-350"/><SP/><String HEIGHT="24" CONTENT="Capital" WIDTH="71" HPOS="616" VPOS="1089" ID="st13-351"/><String HEIGHT="24" CONTENT="-" WIDTH="10" HPOS="687" VPOS="1089" ID="st13-352"/><String HEIGHT="24" CONTENT="Account" WIDTH="72" HPOS="697" VPOS="1089" ID="st13-353"/><SP/><String HEIGHT="24" CONTENT="Convertibil" WIDTH="105" HPOS="775" VPOS="1089" ID="st13-354" SUBS_TYPE="HypPart1" SUBS_CONTENT="Convertibility"/><HYP CONTENT="-" WIDTH="9" HPOS="880" VPOS="1089" HEIGHT="24"/></TextLine><TextLine HPOS="129" VPOS="1117" ID="tl13-36" WIDTH="699" HEIGHT="24"><String HEIGHT="24" CONTENT="ity" WIDTH="24" HPOS="129" VPOS="1117" ID="st13-355" SUBS_TYPE="HypPart2" SUBS_CONTENT="Convertibility"/><String HEIGHT="24" CONTENT="?" WIDTH="8" HPOS="153" VPOS="1117" ID="st13-356"/><String HEIGHT="24" CONTENT="," WIDTH="8" HPOS="161" VPOS="1117" ID="st13-357"/><String HEIGHT="24" CONTENT="«" WIDTH="8" HPOS="169" VPOS="1117" ID="st13-358"/><SP/><String HEIGHT="24" CONTENT="Essays" WIDTH="60" HPOS="183" VPOS="1117" ID="st13-359"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="19" HPOS="248" VPOS="1117" ID="st13-360"/><SP/><String HEIGHT="24" CONTENT="International" WIDTH="123" HPOS="272" VPOS="1117" ID="st13-361"/><SP/><String HEIGHT="24" CONTENT="Finance" WIDTH="73" HPOS="400" VPOS="1117" ID="st13-362"/><SP/><String HEIGHT="24" CONTENT="No" WIDTH="24" HPOS="479" VPOS="1117" ID="st13-363"/><String HEIGHT="24" CONTENT="." WIDTH="12" HPOS="503" VPOS="1117" ID="st13-364"/><SP/><String HEIGHT="24" CONTENT="207" WIDTH="28" HPOS="521" VPOS="1117" ID="st13-365"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="549" VPOS="1117" ID="st13-366"/><SP/><String HEIGHT="24" CONTENT="Princeton" WIDTH="91" HPOS="565" VPOS="1117" ID="st13-367"/><SP/><String HEIGHT="24" CONTENT="University" WIDTH="97" HPOS="661" VPOS="1117" ID="st13-368"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="764" VPOS="1117" ID="st13-369"/><String HEIGHT="24" CONTENT="May" WIDTH="32" HPOS="774" VPOS="1117" ID="st13-370"/><String HEIGHT="24" CONTENT=")" WIDTH="11" HPOS="806" VPOS="1117" ID="st13-371"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="817" VPOS="1117" ID="st13-372"/></TextLine><TextLine HPOS="94" VPOS="1145" ID="tl13-37" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="33" WIDTH="16" HPOS="94" VPOS="1145" ID="st13-373"/><String HEIGHT="24" CONTENT="." WIDTH="8" HPOS="110" VPOS="1145" ID="st13-374"/><SP/><String HEIGHT="24" CONTENT="Bibow" WIDTH="55" HPOS="129" VPOS="1145" ID="st13-375"/><String HEIGHT="24" CONTENT="," WIDTH="12" HPOS="184" VPOS="1145" ID="st13-376"/><SP/><String HEIGHT="24" CONTENT="J" WIDTH="7" HPOS="200" VPOS="1145" ID="st13-377"/><String HEIGHT="24" CONTENT="." WIDTH="7" HPOS="207" VPOS="1145" ID="st13-378"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="218" VPOS="1145" ID="st13-379"/><String HEIGHT="24" CONTENT="2008" WIDTH="40" HPOS="228" VPOS="1145" ID="st13-380"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="268" VPOS="1145" ID="st13-381"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="278" VPOS="1145" ID="st13-382"/><String HEIGHT="24" CONTENT="»" WIDTH="11" HPOS="293" VPOS="1145" ID="st13-383"/><String HEIGHT="24" CONTENT="The" WIDTH="35" HPOS="304" VPOS="1145" ID="st13-384"/><SP/><String HEIGHT="24" CONTENT="International" WIDTH="122" HPOS="344" VPOS="1145" ID="st13-385"/><SP/><String HEIGHT="24" CONTENT="Monetary" WIDTH="92" HPOS="470" VPOS="1145" ID="st13-386"/><String HEIGHT="24" CONTENT="(" WIDTH="11" HPOS="566" VPOS="1145" ID="st13-387"/><String HEIGHT="24" CONTENT="Non" WIDTH="34" HPOS="577" VPOS="1145" ID="st13-388"/><String HEIGHT="24" CONTENT=")" WIDTH="12" HPOS="611" VPOS="1145" ID="st13-389"/><String HEIGHT="24" CONTENT="-" WIDTH="11" HPOS="623" VPOS="1145" ID="st13-390"/><String HEIGHT="24" CONTENT="Order" WIDTH="58" HPOS="634" VPOS="1145" ID="st13-391"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="35" HPOS="696" VPOS="1145" ID="st13-392"/><SP/><String HEIGHT="24" CONTENT="the" WIDTH="29" HPOS="735" VPOS="1145" ID="st13-393"/><SP/><String HEIGHT="24" CONTENT="›Global" WIDTH="70" HPOS="769" VPOS="1145" ID="st13-394"/><SP/><String HEIGHT="24" CONTENT="Cap" WIDTH="35" HPOS="843" VPOS="1145" ID="st13-395" SUBS_TYPE="HypPart1" SUBS_CONTENT="Capital"/><HYP CONTENT="-" WIDTH="11" HPOS="878" VPOS="1145" HEIGHT="24"/></TextLine><TextLine HPOS="129" VPOS="1173" ID="tl13-38" WIDTH="760" HEIGHT="23"><String HEIGHT="23" CONTENT="ital" WIDTH="29" HPOS="129" VPOS="1173" ID="st13-396" SUBS_TYPE="HypPart2" SUBS_CONTENT="Capital"/><SP/><String HEIGHT="23" CONTENT="Flows" WIDTH="57" HPOS="166" VPOS="1173" ID="st13-397"/><SP/><String HEIGHT="23" CONTENT="Paradox‹," WIDTH="88" HPOS="231" VPOS="1173" ID="st13-398"/><String HEIGHT="23" CONTENT="«" WIDTH="10" HPOS="319" VPOS="1173" ID="st13-399"/><SP/><String HEIGHT="23" CONTENT="Levy" WIDTH="45" HPOS="336" VPOS="1173" ID="st13-400"/><SP/><String HEIGHT="23" CONTENT="Economics" WIDTH="104" HPOS="389" VPOS="1173" ID="st13-401"/><SP/><String HEIGHT="23" CONTENT="Institute" WIDTH="80" HPOS="501" VPOS="1173" ID="st13-402"/><SP/><String HEIGHT="23" CONTENT="Working" WIDTH="83" HPOS="589" VPOS="1173" ID="st13-403"/><SP/><String HEIGHT="23" CONTENT="Paper" WIDTH="53" HPOS="679" VPOS="1173" ID="st13-404"/><SP/><String HEIGHT="23" CONTENT="No" WIDTH="24" HPOS="740" VPOS="1173" ID="st13-405"/><String HEIGHT="23" CONTENT="." WIDTH="13" HPOS="764" VPOS="1173" ID="st13-406"/><SP/><String HEIGHT="23" CONTENT="531" WIDTH="25" HPOS="784" VPOS="1173" ID="st13-407"/><String HEIGHT="23" CONTENT="(" WIDTH="9" HPOS="817" VPOS="1173" ID="st13-408"/><String HEIGHT="23" CONTENT="April" WIDTH="45" HPOS="826" VPOS="1173" ID="st13-409"/><String HEIGHT="23" CONTENT=")" WIDTH="9" HPOS="871" VPOS="1173" ID="st13-410"/><String HEIGHT="23" CONTENT=";" WIDTH="9" HPOS="880" VPOS="1173" ID="st13-411"/></TextLine><TextLine HPOS="129" VPOS="1200" ID="tl13-39" WIDTH="518" HEIGHT="24"><String HEIGHT="24" CONTENT="Annandale" WIDTH="101" HPOS="129" VPOS="1200" ID="st13-412"/><String HEIGHT="24" CONTENT="-" WIDTH="11" HPOS="230" VPOS="1200" ID="st13-413"/><String HEIGHT="24" CONTENT="on" WIDTH="23" HPOS="241" VPOS="1200" ID="st13-414"/><String HEIGHT="24" CONTENT="-" WIDTH="11" HPOS="264" VPOS="1200" ID="st13-415"/><String HEIGHT="24" CONTENT="Hudson" WIDTH="67" HPOS="275" VPOS="1200" ID="st13-416"/><String HEIGHT="24" CONTENT=":" WIDTH="12" HPOS="342" VPOS="1200" ID="st13-417"/><SP/><String HEIGHT="24" CONTENT="The" WIDTH="37" HPOS="359" VPOS="1200" ID="st13-418"/><SP/><String HEIGHT="24" CONTENT="Levy" WIDTH="45" HPOS="401" VPOS="1200" ID="st13-419"/><SP/><String HEIGHT="24" CONTENT="Economics" WIDTH="103" HPOS="452" VPOS="1200" ID="st13-420"/><SP/><String HEIGHT="24" CONTENT="Institute" WIDTH="77" HPOS="561" VPOS="1200" ID="st13-421"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="638" VPOS="1200" ID="st13-422"/></TextLine><TextLine HPOS="94" VPOS="1228" ID="tl13-40" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="34" WIDTH="18" HPOS="94" VPOS="1228" ID="st13-423"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="112" VPOS="1228" ID="st13-424"/><SP/><String HEIGHT="24" CONTENT="Mel" WIDTH="30" HPOS="129" VPOS="1228" ID="st13-425"/><String HEIGHT="24" CONTENT="’" WIDTH="10" HPOS="159" VPOS="1228" ID="st13-426"/><String HEIGHT="24" CONTENT="nikov" WIDTH="50" HPOS="169" VPOS="1228" ID="st13-427"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="219" VPOS="1228" ID="st13-428"/><SP/><String HEIGHT="24" CONTENT="V" WIDTH="10" HPOS="233" VPOS="1228" ID="st13-429"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="243" VPOS="1228" ID="st13-430"/><String HEIGHT="24" CONTENT="N" WIDTH="10" HPOS="253" VPOS="1228" ID="st13-431"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="263" VPOS="1228" ID="st13-432"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="273" VPOS="1228" ID="st13-433"/><String HEIGHT="24" CONTENT="»" WIDTH="11" HPOS="288" VPOS="1228" ID="st13-434"/><String HEIGHT="24" CONTENT="Voprosy" WIDTH="77" HPOS="299" VPOS="1228" ID="st13-435"/><SP/><String HEIGHT="24" CONTENT="valyutnogo" WIDTH="105" HPOS="381" VPOS="1228" ID="st13-436"/><SP/><String HEIGHT="24" CONTENT="regulirovaniya" WIDTH="133" HPOS="491" VPOS="1228" ID="st13-437"/><SP/><String HEIGHT="24" CONTENT="i" WIDTH="6" HPOS="629" VPOS="1228" ID="st13-438"/><SP/><String HEIGHT="24" CONTENT="valyutnogo" WIDTH="105" HPOS="640" VPOS="1228" ID="st13-439"/><SP/><String HEIGHT="24" CONTENT="kontrolya" WIDTH="90" HPOS="750" VPOS="1228" ID="st13-440"/><SP/><String HEIGHT="24" CONTENT="v" WIDTH="11" HPOS="844" VPOS="1228" ID="st13-441"/><SP/><String HEIGHT="24" CONTENT="pe" WIDTH="20" HPOS="860" VPOS="1228" ID="st13-442" SUBS_TYPE="HypPart1" SUBS_CONTENT="period"/><HYP CONTENT="-" WIDTH="9" HPOS="880" VPOS="1228" HEIGHT="24"/></TextLine><TextLine HPOS="129" VPOS="1256" ID="tl13-41" WIDTH="760" HEIGHT="24"><String HEIGHT="24" CONTENT="riod" WIDTH="40" HPOS="129" VPOS="1256" ID="st13-443" SUBS_TYPE="HypPart2" SUBS_CONTENT="period"/><SP/><String HEIGHT="24" CONTENT="finansovogo" WIDTH="117" HPOS="178" VPOS="1256" ID="st13-444"/><SP/><String HEIGHT="24" CONTENT="krizisa," WIDTH="67" HPOS="304" VPOS="1256" ID="st13-445"/><String HEIGHT="24" CONTENT="«" WIDTH="9" HPOS="371" VPOS="1256" ID="st13-446"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="17" HPOS="389" VPOS="1256" ID="st13-447"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="406" VPOS="1256" ID="st13-448"/><SP/><String HEIGHT="23" CONTENT="Den" WIDTH="30" HPOS="424" VPOS="1257" ID="st13-449"/><String HEIGHT="23" CONTENT="’" WIDTH="10" HPOS="454" VPOS="1257" ID="st13-450"/><String HEIGHT="23" CONTENT="gi" WIDTH="20" HPOS="464" VPOS="1257" ID="st13-451"/><SP/><String HEIGHT="23" CONTENT="i" WIDTH="6" HPOS="493" VPOS="1257" ID="st13-452"/><SP/><String HEIGHT="23" CONTENT="Kredit" WIDTH="54" HPOS="508" VPOS="1257" ID="st13-453"/><String HEIGHT="23" CONTENT="," WIDTH="10" HPOS="562" VPOS="1257" ID="st13-454"/><SP/><String HEIGHT="24" CONTENT="12" WIDTH="19" HPOS="581" VPOS="1256" ID="st13-455"/><String HEIGHT="24" CONTENT="(" WIDTH="11" HPOS="608" VPOS="1256" ID="st13-456"/><String HEIGHT="24" CONTENT="December" WIDTH="89" HPOS="619" VPOS="1256" ID="st13-457"/><String HEIGHT="24" CONTENT=")" WIDTH="11" HPOS="708" VPOS="1256" ID="st13-458"/><String HEIGHT="24" CONTENT=":" WIDTH="12" HPOS="719" VPOS="1256" ID="st13-459"/><SP/><String HEIGHT="24" CONTENT="36–42" WIDTH="53" HPOS="740" VPOS="1256" ID="st13-460"/><String HEIGHT="24" CONTENT=";" WIDTH="11" HPOS="793" VPOS="1256" ID="st13-461"/><SP/><String HEIGHT="24" CONTENT="Sapir" WIDTH="45" HPOS="812" VPOS="1256" ID="st13-462"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="857" VPOS="1256" ID="st13-463"/><SP/><String HEIGHT="24" CONTENT="J" WIDTH="7" HPOS="875" VPOS="1256" ID="st13-464"/><String HEIGHT="24" CONTENT="." WIDTH="7" HPOS="882" VPOS="1256" ID="st13-465"/></TextLine><TextLine HPOS="129" VPOS="1284" ID="tl13-42" WIDTH="760" HEIGHT="23"><String HEIGHT="23" CONTENT="(" WIDTH="10" HPOS="129" VPOS="1284" ID="st13-466"/><String HEIGHT="23" CONTENT="2000" WIDTH="42" HPOS="139" VPOS="1284" ID="st13-467"/><String HEIGHT="23" CONTENT=")" WIDTH="11" HPOS="181" VPOS="1284" ID="st13-468"/><String HEIGHT="23" CONTENT=":" WIDTH="11" HPOS="192" VPOS="1284" ID="st13-469"/><String HEIGHT="23" CONTENT="»" WIDTH="10" HPOS="207" VPOS="1284" ID="st13-470"/><String HEIGHT="23" CONTENT="Currency" WIDTH="88" HPOS="217" VPOS="1284" ID="st13-471"/><SP/><String HEIGHT="23" CONTENT="and" WIDTH="34" HPOS="310" VPOS="1284" ID="st13-472"/><SP/><String HEIGHT="23" CONTENT="Capital" WIDTH="64" HPOS="349" VPOS="1284" ID="st13-473"/><String HEIGHT="23" CONTENT=":" WIDTH="10" HPOS="413" VPOS="1284" ID="st13-474"/><SP/><String HEIGHT="23" CONTENT="Controls" WIDTH="82" HPOS="428" VPOS="1284" ID="st13-475"/><SP/><String HEIGHT="23" CONTENT="in" WIDTH="18" HPOS="515" VPOS="1284" ID="st13-476"/><SP/><String HEIGHT="23" CONTENT="Russia" WIDTH="61" HPOS="538" VPOS="1284" ID="st13-477"/><SP/><String HEIGHT="23" CONTENT="–" WIDTH="11" HPOS="603" VPOS="1284" ID="st13-478"/><SP/><String HEIGHT="23" CONTENT="Why" WIDTH="45" HPOS="619" VPOS="1284" ID="st13-479"/><SP/><String HEIGHT="23" CONTENT="and" WIDTH="35" HPOS="668" VPOS="1284" ID="st13-480"/><SP/><String HEIGHT="23" CONTENT="How" WIDTH="50" HPOS="707" VPOS="1284" ID="st13-481"/><SP/><String HEIGHT="23" CONTENT="to" WIDTH="20" HPOS="761" VPOS="1284" ID="st13-482"/><SP/><String HEIGHT="23" CONTENT="Implement" WIDTH="104" HPOS="785" VPOS="1284" ID="st13-483"/></TextLine><TextLine HPOS="129" VPOS="1311" ID="tl13-43" WIDTH="680" HEIGHT="24"><String HEIGHT="24" CONTENT="Them" WIDTH="56" HPOS="129" VPOS="1311" ID="st13-484"/><SP/><String HEIGHT="24" CONTENT="Now," WIDTH="50" HPOS="190" VPOS="1311" ID="st13-485"/><String HEIGHT="24" CONTENT="«" WIDTH="13" HPOS="240" VPOS="1311" ID="st13-486"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="17" HPOS="258" VPOS="1311" ID="st13-487"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="275" VPOS="1311" ID="st13-488"/><SP/><String HEIGHT="22" CONTENT="Studies" WIDTH="62" HPOS="289" VPOS="1313" ID="st13-489"/><SP/><String HEIGHT="22" CONTENT="on" WIDTH="21" HPOS="357" VPOS="1313" ID="st13-490"/><SP/><String HEIGHT="22" CONTENT="Russian" WIDTH="70" HPOS="383" VPOS="1313" ID="st13-491"/><SP/><String HEIGHT="22" CONTENT="Economic" WIDTH="82" HPOS="459" VPOS="1313" ID="st13-492"/><SP/><String HEIGHT="22" CONTENT="Development" WIDTH="107" HPOS="547" VPOS="1313" ID="st13-493"/><String HEIGHT="22" CONTENT="," WIDTH="10" HPOS="654" VPOS="1313" ID="st13-494"/><SP/><String HEIGHT="24" CONTENT="11" WIDTH="16" HPOS="669" VPOS="1311" ID="st13-495"/><String HEIGHT="24" CONTENT="(" WIDTH="9" HPOS="691" VPOS="1311" ID="st13-496"/><String HEIGHT="24" CONTENT="6" WIDTH="9" HPOS="700" VPOS="1311" ID="st13-497"/><String HEIGHT="24" CONTENT=")" WIDTH="9" HPOS="709" VPOS="1311" ID="st13-498"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="718" VPOS="1311" ID="st13-499"/><SP/><String HEIGHT="24" CONTENT="606–20" WIDTH="66" HPOS="732" VPOS="1311" ID="st13-500"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="798" VPOS="1311" ID="st13-501"/></TextLine><TextLine HPOS="94" VPOS="1398" ID="tl13-44" WIDTH="30" HEIGHT="11"><String HEIGHT="11" CONTENT="ipg" WIDTH="30" HPOS="94" VPOS="1398" ID="st13-502"/></TextLine><TextLine HPOS="128" VPOS="1394" ID="tl13-45" WIDTH="56" HEIGHT="21"><String HEIGHT="21" CONTENT="1/2009" WIDTH="56" HPOS="128" VPOS="1394" ID="st13-503"/></TextLine><TextLine HPOS="692" VPOS="1395" ID="tl13-46" WIDTH="153" HEIGHT="18"><String HEIGHT="18" CONTENT="Sapir" WIDTH="33" HPOS="692" VPOS="1395" ID="st13-504"/><String HEIGHT="18" CONTENT="," WIDTH="7" HPOS="725" VPOS="1395" ID="st13-505"/><SP/><String HEIGHT="18" CONTENT="Financial" WIDTH="65" HPOS="736" VPOS="1395" ID="st13-506"/><SP/><String HEIGHT="18" CONTENT="Crisis" WIDTH="39" HPOS="806" VPOS="1395" ID="st13-507"/></TextLine><TextLine HPOS="865" VPOS="1388" ID="tl13-47" WIDTH="24" HEIGHT="29"><String HEIGHT="29" CONTENT="39" WIDTH="24" HPOS="865" VPOS="1388" ID="st13-508"/></TextLine></TextBlock></PrintSpace></Page><Page WIDTH="984" PHYSICAL_IMG_NR="14" ID="p658182" HEIGHT="1472"><PrintSpace WIDTH="984" HPOS="0" VPOS="0" ID="ps658182" HEIGHT="1472"><TextBlock WIDTH="984" HPOS="0" VPOS="0" ID="tb658182" HEIGHT="1472"><TextLine HPOS="94" VPOS="94" ID="tl14-0" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="but" WIDTH="38" HPOS="94" VPOS="94" ID="st14-0"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="138" VPOS="94" ID="st14-1"/><SP/><String HEIGHT="28" CONTENT="preventing" WIDTH="119" HPOS="168" VPOS="94" ID="st14-2"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="294" VPOS="94" ID="st14-3"/><SP/><String HEIGHT="28" CONTENT="developed" WIDTH="114" HPOS="335" VPOS="94" ID="st14-4"/><SP/><String HEIGHT="28" CONTENT="economies" WIDTH="118" HPOS="455" VPOS="94" ID="st14-5"/><SP/><String HEIGHT="28" CONTENT="from" WIDTH="55" HPOS="579" VPOS="94" ID="st14-6"/><SP/><String HEIGHT="28" CONTENT="sinking" WIDTH="80" HPOS="641" VPOS="94" ID="st14-7"/><SP/><String HEIGHT="28" CONTENT="into" WIDTH="45" HPOS="728" VPOS="94" ID="st14-8"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="780" VPOS="94" ID="st14-9"/><SP/><String HEIGHT="28" CONTENT="long" WIDTH="50" HPOS="798" VPOS="94" ID="st14-10"/><SP/><String HEIGHT="28" CONTENT="pe" WIDTH="24" HPOS="854" VPOS="94" ID="st14-11" SUBS_TYPE="HypPart1" SUBS_CONTENT="period"/><HYP CONTENT="-" WIDTH="11" HPOS="878" VPOS="94" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="126" ID="tl14-1" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="riod" WIDTH="46" HPOS="94" VPOS="126" ID="st14-12" SUBS_TYPE="HypPart2" SUBS_CONTENT="period"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="146" VPOS="126" ID="st14-13"/><SP/><String HEIGHT="28" CONTENT="low" WIDTH="41" HPOS="175" VPOS="126" ID="st14-14"/><SP/><String HEIGHT="28" CONTENT="growth" WIDTH="82" HPOS="222" VPOS="126" ID="st14-15"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="310" VPOS="126" ID="st14-16"/><SP/><String HEIGHT="28" CONTENT="high" WIDTH="50" HPOS="357" VPOS="126" ID="st14-17"/><SP/><String HEIGHT="28" CONTENT="unemployment" WIDTH="163" HPOS="413" VPOS="126" ID="st14-18"/><String HEIGHT="28" CONTENT="." WIDTH="14" HPOS="576" VPOS="126" ID="st14-19"/><SP/><String HEIGHT="28" CONTENT="Tariffs" WIDTH="69" HPOS="595" VPOS="126" ID="st14-20"/><SP/><String HEIGHT="28" CONTENT="must" WIDTH="55" HPOS="670" VPOS="126" ID="st14-21"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="731" VPOS="126" ID="st14-22"/><SP/><String HEIGHT="28" CONTENT="designed" WIDTH="99" HPOS="763" VPOS="126" ID="st14-23"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="867" VPOS="126" ID="st14-24"/></TextLine><TextLine HPOS="94" VPOS="158" ID="tl14-2" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="such" WIDTH="50" HPOS="94" VPOS="158" ID="st14-25"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="152" VPOS="158" ID="st14-26"/><SP/><String HEIGHT="28" CONTENT="way" WIDTH="44" HPOS="171" VPOS="158" ID="st14-27"/><SP/><String HEIGHT="28" CONTENT="as" WIDTH="21" HPOS="222" VPOS="158" ID="st14-28"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="251" VPOS="158" ID="st14-29"/><SP/><String HEIGHT="28" CONTENT="prevent" WIDTH="84" HPOS="282" VPOS="158" ID="st14-30"/><SP/><String HEIGHT="28" CONTENT="countries" WIDTH="102" HPOS="373" VPOS="158" ID="st14-31"/><SP/><String HEIGHT="28" CONTENT="whose" WIDTH="71" HPOS="483" VPOS="158" ID="st14-32"/><SP/><String HEIGHT="28" CONTENT="labor" WIDTH="58" HPOS="561" VPOS="158" ID="st14-33"/><SP/><String HEIGHT="28" CONTENT="productivity" WIDTH="136" HPOS="626" VPOS="158" ID="st14-34"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="769" VPOS="158" ID="st14-35"/><SP/><String HEIGHT="28" CONTENT="export" WIDTH="71" HPOS="818" VPOS="158" ID="st14-36"/></TextLine><TextLine HPOS="94" VPOS="190" ID="tl14-3" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="sophistication" WIDTH="155" HPOS="94" VPOS="190" ID="st14-37"/><SP/><String HEIGHT="28" CONTENT="are" WIDTH="33" HPOS="256" VPOS="190" ID="st14-38"/><SP/><String HEIGHT="28" CONTENT="converging" WIDTH="124" HPOS="296" VPOS="190" ID="st14-39"/><SP/><String HEIGHT="28" CONTENT="on" WIDTH="29" HPOS="428" VPOS="190" ID="st14-40"/><SP/><String HEIGHT="28" CONTENT="those" WIDTH="60" HPOS="464" VPOS="190" ID="st14-41"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="531" VPOS="190" ID="st14-42"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="561" VPOS="190" ID="st14-43"/><SP/><String HEIGHT="28" CONTENT="advanced" WIDTH="103" HPOS="603" VPOS="190" ID="st14-44"/><SP/><String HEIGHT="28" CONTENT="industrial" WIDTH="105" HPOS="713" VPOS="190" ID="st14-45"/><SP/><String HEIGHT="28" CONTENT="coun" WIDTH="52" HPOS="825" VPOS="190" ID="st14-46" SUBS_TYPE="HypPart1" SUBS_CONTENT="countries"/><HYP CONTENT="-" WIDTH="12" HPOS="877" VPOS="190" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="222" ID="tl14-4" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="tries" WIDTH="45" HPOS="94" VPOS="222" ID="st14-47" SUBS_TYPE="HypPart2" SUBS_CONTENT="countries"/><String HEIGHT="28" CONTENT="," WIDTH="10" HPOS="139" VPOS="222" ID="st14-48"/><SP/><String HEIGHT="28" CONTENT="but" WIDTH="38" HPOS="155" VPOS="222" ID="st14-49"/><SP/><String HEIGHT="28" CONTENT="whose" WIDTH="71" HPOS="199" VPOS="222" ID="st14-50"/><SP/><String HEIGHT="28" CONTENT="social" WIDTH="61" HPOS="276" VPOS="222" ID="st14-51"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="344" VPOS="222" ID="st14-52"/><SP/><String HEIGHT="28" CONTENT="environmental" WIDTH="161" HPOS="391" VPOS="222" ID="st14-53"/><SP/><String HEIGHT="28" CONTENT="regulations" WIDTH="124" HPOS="558" VPOS="222" ID="st14-54"/><SP/><String HEIGHT="28" CONTENT="fall" WIDTH="34" HPOS="688" VPOS="222" ID="st14-55"/><SP/><String HEIGHT="28" CONTENT="far" WIDTH="29" HPOS="728" VPOS="222" ID="st14-56"/><SP/><String HEIGHT="28" CONTENT="short" WIDTH="54" HPOS="763" VPOS="222" ID="st14-57"/><String HEIGHT="28" CONTENT="," WIDTH="11" HPOS="817" VPOS="222" ID="st14-58"/><SP/><String HEIGHT="28" CONTENT="from" WIDTH="55" HPOS="834" VPOS="222" ID="st14-59"/></TextLine><TextLine HPOS="94" VPOS="254" ID="tl14-5" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="engaging" WIDTH="100" HPOS="94" VPOS="254" ID="st14-60"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="199" VPOS="254" ID="st14-61"/><SP/><String HEIGHT="28" CONTENT="social" WIDTH="61" HPOS="226" VPOS="254" ID="st14-62"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="40" HPOS="292" VPOS="254" ID="st14-63"/><SP/><String HEIGHT="28" CONTENT="environmental" WIDTH="159" HPOS="337" VPOS="254" ID="st14-64"/><SP/><String HEIGHT="28" CONTENT="dumping" WIDTH="94" HPOS="501" VPOS="254" ID="st14-65"/><String HEIGHT="28" CONTENT="," WIDTH="14" HPOS="595" VPOS="254" ID="st14-66"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="34" HPOS="614" VPOS="254" ID="st14-67"/><SP/><String HEIGHT="28" CONTENT="brunt" WIDTH="62" HPOS="653" VPOS="254" ID="st14-68"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="720" VPOS="254" ID="st14-69"/><SP/><String HEIGHT="28" CONTENT="which" WIDTH="66" HPOS="748" VPOS="254" ID="st14-70"/><SP/><String HEIGHT="28" CONTENT="would" WIDTH="70" HPOS="819" VPOS="254" ID="st14-71"/></TextLine><TextLine HPOS="94" VPOS="286" ID="tl14-6" WIDTH="399" HEIGHT="28"><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="94" VPOS="286" ID="st14-72"/><SP/><String HEIGHT="28" CONTENT="borne" WIDTH="65" HPOS="127" VPOS="286" ID="st14-73"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="27" HPOS="199" VPOS="286" ID="st14-74"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="233" VPOS="286" ID="st14-75"/><SP/><String HEIGHT="28" CONTENT="advanced" WIDTH="103" HPOS="274" VPOS="286" ID="st14-76"/><SP/><String HEIGHT="28" CONTENT="countries" WIDTH="98" HPOS="384" VPOS="286" ID="st14-77"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="482" VPOS="286" ID="st14-78"/></TextLine><TextLine HPOS="493" VPOS="283" ID="tl14-7" WIDTH="14" HEIGHT="21"><String HEIGHT="21" CONTENT="35" WIDTH="14" HPOS="493" VPOS="283" ID="st14-79"/></TextLine><TextLine HPOS="129" VPOS="318" ID="tl14-8" WIDTH="760" HEIGHT="28"><String HEIGHT="28" CONTENT="Clearly" WIDTH="73" HPOS="129" VPOS="318" ID="st14-80"/><String HEIGHT="28" CONTENT="," WIDTH="11" HPOS="202" VPOS="318" ID="st14-81"/><SP/><String HEIGHT="28" CONTENT="such" WIDTH="50" HPOS="218" VPOS="318" ID="st14-82"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="274" VPOS="318" ID="st14-83"/><SP/><String HEIGHT="28" CONTENT="protectionist" WIDTH="142" HPOS="290" VPOS="318" ID="st14-84"/><SP/><String HEIGHT="28" CONTENT="policy" WIDTH="67" HPOS="437" VPOS="318" ID="st14-85"/><SP/><String HEIGHT="28" CONTENT="would" WIDTH="71" HPOS="509" VPOS="318" ID="st14-86"/><SP/><String HEIGHT="28" CONTENT="not" WIDTH="38" HPOS="585" VPOS="318" ID="st14-87"/><SP/><String HEIGHT="28" CONTENT="target" WIDTH="64" HPOS="628" VPOS="318" ID="st14-88"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="697" VPOS="318" ID="st14-89"/><SP/><String HEIGHT="28" CONTENT="poorest" WIDTH="84" HPOS="737" VPOS="318" ID="st14-90"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="826" VPOS="318" ID="st14-91"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="854" VPOS="318" ID="st14-92"/></TextLine><TextLine HPOS="94" VPOS="350" ID="tl14-9" WIDTH="467" HEIGHT="28"><String HEIGHT="28" CONTENT="developing" WIDTH="123" HPOS="94" VPOS="350" ID="st14-93"/><SP/><String HEIGHT="28" CONTENT="countries" WIDTH="99" HPOS="222" VPOS="350" ID="st14-94"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="321" VPOS="350" ID="st14-95"/><SP/><String HEIGHT="28" CONTENT="It" WIDTH="19" HPOS="337" VPOS="350" ID="st14-96"/><SP/><String HEIGHT="28" CONTENT="can" WIDTH="38" HPOS="361" VPOS="350" ID="st14-97"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="404" VPOS="350" ID="st14-98"/><SP/><String HEIGHT="28" CONTENT="argued" WIDTH="76" HPOS="436" VPOS="350" ID="st14-99"/><SP/><String HEIGHT="28" CONTENT="that" WIDTH="44" HPOS="517" VPOS="350" ID="st14-100"/></TextLine><TextLine HPOS="566" VPOS="356" ID="tl14-10" WIDTH="51" HEIGHT="14"><String HEIGHT="14" CONTENT="wto" WIDTH="51" HPOS="566" VPOS="356" ID="st14-101"/></TextLine><TextLine HPOS="617" VPOS="350" ID="tl14-11" WIDTH="272" HEIGHT="28"><String HEIGHT="28" CONTENT="-" WIDTH="12" HPOS="617" VPOS="350" ID="st14-102"/><String HEIGHT="28" CONTENT="sponsored" WIDTH="111" HPOS="629" VPOS="350" ID="st14-103"/><SP/><String HEIGHT="28" CONTENT="free" WIDTH="42" HPOS="745" VPOS="350" ID="st14-104"/><SP/><String HEIGHT="28" CONTENT="trade" WIDTH="56" HPOS="792" VPOS="350" ID="st14-105"/><SP/><String HEIGHT="28" CONTENT="has" WIDTH="36" HPOS="853" VPOS="350" ID="st14-106"/></TextLine><TextLine HPOS="94" VPOS="381" ID="tl14-12" WIDTH="432" HEIGHT="29"><String HEIGHT="29" CONTENT="actually" WIDTH="84" HPOS="94" VPOS="381" ID="st14-107"/><SP/><String HEIGHT="29" CONTENT="been" WIDTH="53" HPOS="187" VPOS="381" ID="st14-108"/><SP/><String HEIGHT="29" CONTENT="detrimental" WIDTH="128" HPOS="249" VPOS="381" ID="st14-109"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="24" HPOS="386" VPOS="381" ID="st14-110"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="419" VPOS="381" ID="st14-111"/><SP/><String HEIGHT="29" CONTENT="latter" WIDTH="53" HPOS="464" VPOS="381" ID="st14-112"/><String HEIGHT="29" CONTENT="." WIDTH="9" HPOS="517" VPOS="381" ID="st14-113"/></TextLine><TextLine HPOS="526" VPOS="379" ID="tl14-13" WIDTH="18" HEIGHT="21"><String HEIGHT="21" CONTENT="36" WIDTH="18" HPOS="526" VPOS="379" ID="st14-114"/></TextLine><TextLine HPOS="553" VPOS="381" ID="tl14-14" WIDTH="336" HEIGHT="29"><String HEIGHT="29" CONTENT="If" WIDTH="18" HPOS="553" VPOS="381" ID="st14-115"/><SP/><String HEIGHT="29" CONTENT="we" WIDTH="31" HPOS="581" VPOS="381" ID="st14-116"/><SP/><String HEIGHT="29" CONTENT="remove" WIDTH="82" HPOS="622" VPOS="381" ID="st14-117"/><SP/><String HEIGHT="29" CONTENT="China" WIDTH="67" HPOS="714" VPOS="381" ID="st14-118"/><SP/><String HEIGHT="29" CONTENT="from" WIDTH="55" HPOS="790" VPOS="381" ID="st14-119"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="854" VPOS="381" ID="st14-120"/></TextLine><TextLine HPOS="94" VPOS="413" ID="tl14-15" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="»" WIDTH="12" HPOS="94" VPOS="413" ID="st14-121"/><String HEIGHT="29" CONTENT="developing" WIDTH="124" HPOS="106" VPOS="413" ID="st14-122"/><SP/><String HEIGHT="29" CONTENT="countries" WIDTH="103" HPOS="237" VPOS="413" ID="st14-123"/><String HEIGHT="29" CONTENT="«" WIDTH="12" HPOS="340" VPOS="413" ID="st14-124"/><SP/><String HEIGHT="29" CONTENT="category" WIDTH="88" HPOS="359" VPOS="413" ID="st14-125"/><String HEIGHT="29" CONTENT="," WIDTH="11" HPOS="447" VPOS="413" ID="st14-126"/><SP/><String HEIGHT="29" CONTENT="free" WIDTH="41" HPOS="465" VPOS="413" ID="st14-127"/><SP/><String HEIGHT="29" CONTENT="trade" WIDTH="56" HPOS="513" VPOS="413" ID="st14-128"/><SP/><String HEIGHT="29" CONTENT="is" WIDTH="17" HPOS="576" VPOS="413" ID="st14-129"/><SP/><String HEIGHT="29" CONTENT="no" WIDTH="30" HPOS="600" VPOS="413" ID="st14-130"/><SP/><String HEIGHT="29" CONTENT="longer" WIDTH="72" HPOS="636" VPOS="413" ID="st14-131"/><SP/><String HEIGHT="29" CONTENT="generating" WIDTH="118" HPOS="715" VPOS="413" ID="st14-132"/><SP/><String HEIGHT="29" CONTENT="ben" WIDTH="37" HPOS="840" VPOS="413" ID="st14-133" SUBS_TYPE="HypPart1" SUBS_CONTENT="benefits"/><HYP CONTENT="-" WIDTH="12" HPOS="877" VPOS="413" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="445" ID="tl14-16" WIDTH="233" HEIGHT="29"><String HEIGHT="29" CONTENT="efits" WIDTH="46" HPOS="94" VPOS="445" ID="st14-134" SUBS_TYPE="HypPart2" SUBS_CONTENT="benefits"/><SP/><String HEIGHT="29" CONTENT="but" WIDTH="38" HPOS="146" VPOS="445" ID="st14-135"/><SP/><String HEIGHT="29" CONTENT="global" WIDTH="69" HPOS="191" VPOS="445" ID="st14-136"/><SP/><String HEIGHT="29" CONTENT="costs" WIDTH="50" HPOS="266" VPOS="445" ID="st14-137"/><String HEIGHT="29" CONTENT="." WIDTH="11" HPOS="316" VPOS="445" ID="st14-138"/></TextLine><TextLine HPOS="327" VPOS="443" ID="tl14-17" WIDTH="17" HEIGHT="21"><String HEIGHT="21" CONTENT="37" WIDTH="17" HPOS="327" VPOS="443" ID="st14-139"/></TextLine><TextLine HPOS="129" VPOS="477" ID="tl14-18" WIDTH="760" HEIGHT="29"><String HEIGHT="29" CONTENT="It" WIDTH="20" HPOS="129" VPOS="477" ID="st14-140"/><SP/><String HEIGHT="29" CONTENT="should" WIDTH="76" HPOS="155" VPOS="477" ID="st14-141"/><SP/><String HEIGHT="29" CONTENT="also" WIDTH="43" HPOS="237" VPOS="477" ID="st14-142"/><SP/><String HEIGHT="29" CONTENT="be" WIDTH="27" HPOS="287" VPOS="477" ID="st14-143"/><SP/><String HEIGHT="29" CONTENT="understood" WIDTH="128" HPOS="320" VPOS="477" ID="st14-144"/><SP/><String HEIGHT="29" CONTENT="that" WIDTH="44" HPOS="455" VPOS="477" ID="st14-145"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="506" VPOS="477" ID="st14-146"/><SP/><String HEIGHT="29" CONTENT="relationship" WIDTH="131" HPOS="548" VPOS="477" ID="st14-147"/><SP/><String HEIGHT="29" CONTENT="between" WIDTH="92" HPOS="686" VPOS="477" ID="st14-148"/><SP/><String HEIGHT="29" CONTENT="free" WIDTH="41" HPOS="785" VPOS="477" ID="st14-149"/><SP/><String HEIGHT="29" CONTENT="trade" WIDTH="56" HPOS="833" VPOS="477" ID="st14-150"/></TextLine><TextLine HPOS="94" VPOS="509" ID="tl14-19" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="94" VPOS="509" ID="st14-151"/><SP/><String HEIGHT="29" CONTENT="development" WIDTH="144" HPOS="140" VPOS="509" ID="st14-152"/><SP/><String HEIGHT="29" CONTENT="has" WIDTH="36" HPOS="289" VPOS="509" ID="st14-153"/><SP/><String HEIGHT="29" CONTENT="been" WIDTH="53" HPOS="330" VPOS="509" ID="st14-154"/><SP/><String HEIGHT="29" CONTENT="grossly" WIDTH="78" HPOS="388" VPOS="509" ID="st14-155"/><SP/><String HEIGHT="29" CONTENT="exaggerated" WIDTH="131" HPOS="471" VPOS="509" ID="st14-156"/><SP/><String HEIGHT="29" CONTENT="in" WIDTH="22" HPOS="607" VPOS="509" ID="st14-157"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="634" VPOS="509" ID="st14-158"/><SP/><String HEIGHT="29" CONTENT="mid" WIDTH="39" HPOS="674" VPOS="509" ID="st14-159"/><String HEIGHT="29" CONTENT="-" WIDTH="14" HPOS="713" VPOS="509" ID="st14-160"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="732" VPOS="509" ID="st14-161"/><SP/><String HEIGHT="29" CONTENT="long" WIDTH="49" HPOS="778" VPOS="509" ID="st14-162"/><String HEIGHT="29" CONTENT="-" WIDTH="12" HPOS="827" VPOS="509" ID="st14-163"/><String HEIGHT="29" CONTENT="term" WIDTH="50" HPOS="839" VPOS="509" ID="st14-164"/></TextLine><TextLine HPOS="94" VPOS="541" ID="tl14-20" WIDTH="131" HEIGHT="28"><String HEIGHT="28" CONTENT="perspective" WIDTH="120" HPOS="94" VPOS="541" ID="st14-165"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="214" VPOS="541" ID="st14-166"/></TextLine><TextLine HPOS="224" VPOS="539" ID="tl14-21" WIDTH="17" HEIGHT="20"><String HEIGHT="20" CONTENT="38" WIDTH="17" HPOS="224" VPOS="539" ID="st14-167"/></TextLine><TextLine HPOS="248" VPOS="541" ID="tl14-22" WIDTH="641" HEIGHT="28"><String HEIGHT="28" CONTENT="The" WIDTH="43" HPOS="248" VPOS="541" ID="st14-168"/><SP/><String HEIGHT="28" CONTENT="argument" WIDTH="107" HPOS="299" VPOS="541" ID="st14-169"/><SP/><String HEIGHT="28" CONTENT="that" WIDTH="44" HPOS="413" VPOS="541" ID="st14-170"/><SP/><String HEIGHT="28" CONTENT="tariffs" WIDTH="64" HPOS="464" VPOS="541" ID="st14-171"/><SP/><String HEIGHT="28" CONTENT="deepened" WIDTH="105" HPOS="535" VPOS="541" ID="st14-172"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="648" VPOS="541" ID="st14-173"/><SP/><String HEIGHT="28" CONTENT="1929" WIDTH="49" HPOS="690" VPOS="541" ID="st14-174"/><SP/><String HEIGHT="28" CONTENT="depression" WIDTH="118" HPOS="747" VPOS="541" ID="st14-175"/><SP/><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="872" VPOS="541" ID="st14-176"/></TextLine><TextLine HPOS="94" VPOS="573" ID="tl14-23" WIDTH="166" HEIGHT="28"><String HEIGHT="28" CONTENT="counterfactual" WIDTH="154" HPOS="94" VPOS="573" ID="st14-177"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="248" VPOS="573" ID="st14-178"/></TextLine><TextLine HPOS="259" VPOS="571" ID="tl14-24" WIDTH="18" HEIGHT="20"><String HEIGHT="20" CONTENT="39" WIDTH="18" HPOS="259" VPOS="571" ID="st14-179"/></TextLine><TextLine HPOS="285" VPOS="573" ID="tl14-25" WIDTH="604" HEIGHT="28"><String HEIGHT="28" CONTENT="International" WIDTH="145" HPOS="285" VPOS="573" ID="st14-180"/><SP/><String HEIGHT="28" CONTENT="trade" WIDTH="57" HPOS="437" VPOS="573" ID="st14-181"/><SP/><String HEIGHT="28" CONTENT="collapsed" WIDTH="102" HPOS="501" VPOS="573" ID="st14-182"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="610" VPOS="573" ID="st14-183"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="640" VPOS="573" ID="st14-184"/><SP/><String HEIGHT="28" CONTENT="early" WIDTH="53" HPOS="682" VPOS="573" ID="st14-185"/><SP/><String HEIGHT="28" CONTENT="1930s" WIDTH="59" HPOS="742" VPOS="573" ID="st14-186"/><SP/><String HEIGHT="28" CONTENT="not" WIDTH="38" HPOS="809" VPOS="573" ID="st14-187"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="24" HPOS="854" VPOS="573" ID="st14-188" SUBS_TYPE="HypPart1" SUBS_CONTENT="because"/><HYP CONTENT="-" WIDTH="11" HPOS="878" VPOS="573" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="605" ID="tl14-26" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="cause" WIDTH="59" HPOS="94" VPOS="605" ID="st14-189" SUBS_TYPE="HypPart2" SUBS_CONTENT="because"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="162" VPOS="605" ID="st14-190"/><SP/><String HEIGHT="28" CONTENT="protectionism" WIDTH="155" HPOS="194" VPOS="605" ID="st14-191"/><SP/><String HEIGHT="28" CONTENT="but" WIDTH="38" HPOS="358" VPOS="605" ID="st14-192"/><SP/><String HEIGHT="28" CONTENT="because" WIDTH="85" HPOS="406" VPOS="605" ID="st14-193"/><SP/><String HEIGHT="28" CONTENT="international" WIDTH="142" HPOS="500" VPOS="605" ID="st14-194"/><SP/><String HEIGHT="28" CONTENT="liquidity" WIDTH="93" HPOS="651" VPOS="605" ID="st14-195"/><SP/><String HEIGHT="28" CONTENT="was" WIDTH="41" HPOS="754" VPOS="605" ID="st14-196"/><SP/><String HEIGHT="28" CONTENT="brutally" WIDTH="85" HPOS="804" VPOS="605" ID="st14-197"/></TextLine><TextLine HPOS="94" VPOS="637" ID="tl14-27" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="squeezed" WIDTH="101" HPOS="94" VPOS="637" ID="st14-198"/><SP/><String HEIGHT="28" CONTENT="when" WIDTH="61" HPOS="201" VPOS="637" ID="st14-199"/><SP/><String HEIGHT="28" CONTENT="banks" WIDTH="64" HPOS="268" VPOS="637" ID="st14-200"/><SP/><String HEIGHT="28" CONTENT="collapsed" WIDTH="102" HPOS="338" VPOS="637" ID="st14-201"/><SP/><String HEIGHT="28" CONTENT="one" WIDTH="41" HPOS="446" VPOS="637" ID="st14-202"/><SP/><String HEIGHT="28" CONTENT="after" WIDTH="50" HPOS="493" VPOS="637" ID="st14-203"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="549" VPOS="637" ID="st14-204"/><SP/><String HEIGHT="28" CONTENT="other" WIDTH="59" HPOS="590" VPOS="637" ID="st14-205"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="656" VPOS="637" ID="st14-206"/><SP/><String HEIGHT="28" CONTENT="because" WIDTH="85" HPOS="703" VPOS="637" ID="st14-207"/><SP/><String HEIGHT="28" CONTENT="no" WIDTH="29" HPOS="794" VPOS="637" ID="st14-208"/><SP/><String HEIGHT="28" CONTENT="inter" WIDTH="50" HPOS="829" VPOS="637" ID="st14-209" SUBS_TYPE="HypPart1" SUBS_CONTENT="international"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="637" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="669" ID="tl14-28" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="national" WIDTH="90" HPOS="94" VPOS="669" ID="st14-210" SUBS_TYPE="HypPart2" SUBS_CONTENT="international"/><SP/><String HEIGHT="28" CONTENT="institution" WIDTH="117" HPOS="194" VPOS="669" ID="st14-211"/><SP/><String HEIGHT="28" CONTENT="could" WIDTH="62" HPOS="320" VPOS="669" ID="st14-212"/><SP/><String HEIGHT="28" CONTENT="provide" WIDTH="86" HPOS="391" VPOS="669" ID="st14-213"/><SP/><String HEIGHT="28" CONTENT="back" WIDTH="50" HPOS="486" VPOS="669" ID="st14-214"/><String HEIGHT="28" CONTENT="-" WIDTH="12" HPOS="536" VPOS="669" ID="st14-215"/><String HEIGHT="28" CONTENT="up" WIDTH="26" HPOS="548" VPOS="669" ID="st14-216"/><SP/><String HEIGHT="28" CONTENT="for" WIDTH="33" HPOS="583" VPOS="669" ID="st14-217"/><SP/><String HEIGHT="28" CONTENT="countries" WIDTH="103" HPOS="625" VPOS="669" ID="st14-218"/><SP/><String HEIGHT="28" CONTENT="facing" WIDTH="67" HPOS="737" VPOS="669" ID="st14-219"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="813" VPOS="669" ID="st14-220"/><SP/><String HEIGHT="28" CONTENT="huge" WIDTH="55" HPOS="834" VPOS="669" ID="st14-221"/></TextLine><TextLine HPOS="94" VPOS="701" ID="tl14-29" WIDTH="387" HEIGHT="28"><String HEIGHT="28" CONTENT="foreign" WIDTH="80" HPOS="94" VPOS="701" ID="st14-222"/><SP/><String HEIGHT="28" CONTENT="exchange" WIDTH="102" HPOS="181" VPOS="701" ID="st14-223"/><SP/><String HEIGHT="28" CONTENT="or" WIDTH="25" HPOS="290" VPOS="701" ID="st14-224"/><SP/><String HEIGHT="28" CONTENT="gold" WIDTH="50" HPOS="322" VPOS="701" ID="st14-225"/><SP/><String HEIGHT="28" CONTENT="shortage" WIDTH="90" HPOS="379" VPOS="701" ID="st14-226"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="469" VPOS="701" ID="st14-227"/></TextLine><TextLine HPOS="481" VPOS="699" ID="tl14-30" WIDTH="22" HEIGHT="20"><String HEIGHT="20" CONTENT="40" WIDTH="22" HPOS="481" VPOS="699" ID="st14-228"/></TextLine><TextLine HPOS="510" VPOS="701" ID="tl14-31" WIDTH="379" HEIGHT="28"><String HEIGHT="28" CONTENT="Bilateral" WIDTH="91" HPOS="510" VPOS="701" ID="st14-229"/><SP/><String HEIGHT="28" CONTENT="trade" WIDTH="56" HPOS="609" VPOS="701" ID="st14-230"/><SP/><String HEIGHT="28" CONTENT="agreements" WIDTH="126" HPOS="672" VPOS="701" ID="st14-231"/><SP/><String HEIGHT="28" CONTENT="actually" WIDTH="84" HPOS="805" VPOS="701" ID="st14-232"/></TextLine><TextLine HPOS="94" VPOS="733" ID="tl14-32" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="helped" WIDTH="74" HPOS="94" VPOS="733" ID="st14-233"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="175" VPOS="733" ID="st14-234"/><SP/><String HEIGHT="28" CONTENT="rebuild" WIDTH="80" HPOS="205" VPOS="733" ID="st14-235"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="292" VPOS="733" ID="st14-236"/><SP/><String HEIGHT="28" CONTENT="limited" WIDTH="79" HPOS="310" VPOS="733" ID="st14-237"/><SP/><String HEIGHT="28" CONTENT="amount" WIDTH="87" HPOS="396" VPOS="733" ID="st14-238"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="22" HPOS="490" VPOS="733" ID="st14-239"/><SP/><String HEIGHT="28" CONTENT="foreign" WIDTH="81" HPOS="519" VPOS="733" ID="st14-240"/><SP/><String HEIGHT="28" CONTENT="trade" WIDTH="53" HPOS="606" VPOS="733" ID="st14-241"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="659" VPOS="733" ID="st14-242"/><SP/><String HEIGHT="28" CONTENT="After" WIDTH="57" HPOS="676" VPOS="733" ID="st14-243"/><SP/><String HEIGHT="28" CONTENT="1945" WIDTH="44" HPOS="740" VPOS="733" ID="st14-244"/><String HEIGHT="28" CONTENT="," WIDTH="11" HPOS="784" VPOS="733" ID="st14-245"/><SP/><String HEIGHT="28" CONTENT="interna" WIDTH="77" HPOS="802" VPOS="733" ID="st14-246" SUBS_TYPE="HypPart1" SUBS_CONTENT="interna35"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="733" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="811" ID="tl14-33" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="35" WIDTH="15" HPOS="94" VPOS="811" ID="st14-247" SUBS_TYPE="HypPart2" SUBS_CONTENT="interna35"/><String HEIGHT="24" CONTENT="." WIDTH="8" HPOS="109" VPOS="811" ID="st14-248"/><SP/><String HEIGHT="24" CONTENT="This" WIDTH="41" HPOS="129" VPOS="811" ID="st14-249"/><SP/><String HEIGHT="24" CONTENT="has" WIDTH="30" HPOS="175" VPOS="811" ID="st14-250"/><SP/><String HEIGHT="24" CONTENT="already" WIDTH="66" HPOS="209" VPOS="811" ID="st14-251"/><SP/><String HEIGHT="24" CONTENT="been" WIDTH="44" HPOS="279" VPOS="811" ID="st14-252"/><SP/><String HEIGHT="24" CONTENT="advocated" WIDTH="93" HPOS="328" VPOS="811" ID="st14-253"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="19" HPOS="425" VPOS="811" ID="st14-254"/><SP/><String HEIGHT="24" CONTENT="Sapir" WIDTH="44" HPOS="448" VPOS="811" ID="st14-255"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="492" VPOS="811" ID="st14-256"/><SP/><String HEIGHT="24" CONTENT="J" WIDTH="7" HPOS="505" VPOS="811" ID="st14-257"/><String HEIGHT="24" CONTENT="." WIDTH="7" HPOS="512" VPOS="811" ID="st14-258"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="523" VPOS="811" ID="st14-259"/><String HEIGHT="24" CONTENT="2006" WIDTH="41" HPOS="533" VPOS="811" ID="st14-260"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="574" VPOS="811" ID="st14-261"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="584" VPOS="811" ID="st14-262"/><SP/><String HEIGHT="22" CONTENT="La" WIDTH="24" HPOS="599" VPOS="813" ID="st14-263"/><SP/><String HEIGHT="22" CONTENT="fin" WIDTH="24" HPOS="628" VPOS="813" ID="st14-264"/><SP/><String HEIGHT="22" CONTENT="de" WIDTH="19" HPOS="657" VPOS="813" ID="st14-265"/><SP/><String HEIGHT="22" CONTENT="l" WIDTH="8" HPOS="680" VPOS="813" ID="st14-266"/><String HEIGHT="22" CONTENT="’" WIDTH="8" HPOS="688" VPOS="813" ID="st14-267"/><String HEIGHT="22" CONTENT="euro" WIDTH="32" HPOS="696" VPOS="813" ID="st14-268"/><String HEIGHT="22" CONTENT="-" WIDTH="8" HPOS="728" VPOS="813" ID="st14-269"/><String HEIGHT="22" CONTENT="libéralisme" WIDTH="88" HPOS="736" VPOS="813" ID="st14-270"/><String HEIGHT="22" CONTENT="." WIDTH="9" HPOS="824" VPOS="813" ID="st14-271"/><SP/><String HEIGHT="24" CONTENT="Paris" WIDTH="42" HPOS="838" VPOS="811" ID="st14-272"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="880" VPOS="811" ID="st14-273"/></TextLine><TextLine HPOS="129" VPOS="839" ID="tl14-34" WIDTH="53" HEIGHT="24"><String HEIGHT="24" CONTENT="Seuil" WIDTH="44" HPOS="129" VPOS="839" ID="st14-274"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="173" VPOS="839" ID="st14-275"/></TextLine><TextLine HPOS="94" VPOS="867" ID="tl14-35" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="36" WIDTH="18" HPOS="94" VPOS="867" ID="st14-276"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="112" VPOS="867" ID="st14-277"/><SP/><String HEIGHT="24" CONTENT="Sapir" WIDTH="45" HPOS="129" VPOS="867" ID="st14-278"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="174" VPOS="867" ID="st14-279"/><SP/><String HEIGHT="24" CONTENT="J" WIDTH="6" HPOS="187" VPOS="867" ID="st14-280"/><String HEIGHT="24" CONTENT="." WIDTH="7" HPOS="193" VPOS="867" ID="st14-281"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="205" VPOS="867" ID="st14-282"/><String HEIGHT="24" CONTENT="2007" WIDTH="40" HPOS="215" VPOS="867" ID="st14-283"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="255" VPOS="867" ID="st14-284"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="265" VPOS="867" ID="st14-285"/><String HEIGHT="24" CONTENT="»" WIDTH="10" HPOS="280" VPOS="867" ID="st14-286"/><String HEIGHT="24" CONTENT="Libre" WIDTH="50" HPOS="290" VPOS="867" ID="st14-287"/><String HEIGHT="24" CONTENT="-" WIDTH="10" HPOS="340" VPOS="867" ID="st14-288"/><String HEIGHT="24" CONTENT="échange" WIDTH="70" HPOS="350" VPOS="867" ID="st14-289"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="420" VPOS="867" ID="st14-290"/><SP/><String HEIGHT="24" CONTENT="croissance" WIDTH="94" HPOS="434" VPOS="867" ID="st14-291"/><SP/><String HEIGHT="24" CONTENT="et" WIDTH="17" HPOS="532" VPOS="867" ID="st14-292"/><SP/><String HEIGHT="24" CONTENT="développement" WIDTH="139" HPOS="554" VPOS="867" ID="st14-293"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="693" VPOS="867" ID="st14-294"/><SP/><String HEIGHT="24" CONTENT="quelques" WIDTH="82" HPOS="709" VPOS="867" ID="st14-295"/><SP/><String HEIGHT="24" CONTENT="mythes" WIDTH="67" HPOS="796" VPOS="867" ID="st14-296"/><SP/><String HEIGHT="24" CONTENT="de" WIDTH="22" HPOS="867" VPOS="867" ID="st14-297"/></TextLine><TextLine HPOS="129" VPOS="895" ID="tl14-36" WIDTH="691" HEIGHT="24"><String HEIGHT="24" CONTENT="l" WIDTH="10" HPOS="129" VPOS="895" ID="st14-298"/><String HEIGHT="24" CONTENT="’" WIDTH="10" HPOS="139" VPOS="895" ID="st14-299"/><String HEIGHT="24" CONTENT="économie" WIDTH="82" HPOS="149" VPOS="895" ID="st14-300"/><SP/><String HEIGHT="24" CONTENT="vulgaire," WIDTH="81" HPOS="237" VPOS="895" ID="st14-301"/><String HEIGHT="24" CONTENT="«" WIDTH="9" HPOS="318" VPOS="895" ID="st14-302"/><SP/><String HEIGHT="24" CONTENT="in" WIDTH="17" HPOS="332" VPOS="895" ID="st14-303"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="349" VPOS="895" ID="st14-304"/><SP/><String HEIGHT="23" CONTENT="Revue" WIDTH="52" HPOS="364" VPOS="896" ID="st14-305"/><SP/><String HEIGHT="23" CONTENT="du" WIDTH="23" HPOS="422" VPOS="896" ID="st14-306"/><SP/><String HEIGHT="23" CONTENT="Mauss" WIDTH="51" HPOS="451" VPOS="896" ID="st14-307"/><String HEIGHT="23" CONTENT="," WIDTH="11" HPOS="502" VPOS="896" ID="st14-308"/><SP/><String HEIGHT="24" CONTENT="30" WIDTH="18" HPOS="519" VPOS="895" ID="st14-309"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="537" VPOS="895" ID="st14-310"/><SP/><String HEIGHT="24" CONTENT="Paris" WIDTH="44" HPOS="552" VPOS="895" ID="st14-311"/><String HEIGHT="24" CONTENT=":" WIDTH="9" HPOS="596" VPOS="895" ID="st14-312"/><SP/><String HEIGHT="24" CONTENT="La" WIDTH="24" HPOS="610" VPOS="895" ID="st14-313"/><SP/><String HEIGHT="24" CONTENT="Découverte" WIDTH="104" HPOS="640" VPOS="895" ID="st14-314"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="744" VPOS="895" ID="st14-315"/><SP/><String HEIGHT="24" CONTENT="151–71" WIDTH="50" HPOS="761" VPOS="895" ID="st14-316"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="811" VPOS="895" ID="st14-317"/></TextLine><TextLine HPOS="94" VPOS="923" ID="tl14-37" WIDTH="795" HEIGHT="23"><String HEIGHT="23" CONTENT="37" WIDTH="16" HPOS="94" VPOS="923" ID="st14-318"/><String HEIGHT="23" CONTENT="." WIDTH="8" HPOS="110" VPOS="923" ID="st14-319"/><SP/><String HEIGHT="23" CONTENT="Ackerman" WIDTH="90" HPOS="129" VPOS="923" ID="st14-320"/><String HEIGHT="23" CONTENT="," WIDTH="12" HPOS="219" VPOS="923" ID="st14-321"/><SP/><String HEIGHT="23" CONTENT="F" WIDTH="8" HPOS="237" VPOS="923" ID="st14-322"/><String HEIGHT="23" CONTENT="." WIDTH="9" HPOS="245" VPOS="923" ID="st14-323"/><String HEIGHT="23" CONTENT="(" WIDTH="9" HPOS="260" VPOS="923" ID="st14-324"/><String HEIGHT="23" CONTENT="2005" WIDTH="40" HPOS="269" VPOS="923" ID="st14-325"/><String HEIGHT="23" CONTENT=")" WIDTH="10" HPOS="309" VPOS="923" ID="st14-326"/><String HEIGHT="23" CONTENT=":" WIDTH="10" HPOS="319" VPOS="923" ID="st14-327"/><String HEIGHT="23" CONTENT="»" WIDTH="11" HPOS="334" VPOS="923" ID="st14-328"/><String HEIGHT="23" CONTENT="The" WIDTH="35" HPOS="345" VPOS="923" ID="st14-329"/><SP/><String HEIGHT="23" CONTENT="Shrinking" WIDTH="93" HPOS="386" VPOS="923" ID="st14-330"/><SP/><String HEIGHT="23" CONTENT="Gains" WIDTH="54" HPOS="485" VPOS="923" ID="st14-331"/><SP/><String HEIGHT="23" CONTENT="from" WIDTH="46" HPOS="545" VPOS="923" ID="st14-332"/><SP/><String HEIGHT="23" CONTENT="Trade" WIDTH="49" HPOS="597" VPOS="923" ID="st14-333"/><String HEIGHT="23" CONTENT=":" WIDTH="10" HPOS="646" VPOS="923" ID="st14-334"/><SP/><String HEIGHT="23" CONTENT="A" WIDTH="16" HPOS="662" VPOS="923" ID="st14-335"/><SP/><String HEIGHT="23" CONTENT="Critical" WIDTH="69" HPOS="683" VPOS="923" ID="st14-336"/><SP/><String HEIGHT="23" CONTENT="Assessment" WIDTH="107" HPOS="757" VPOS="923" ID="st14-337"/><SP/><String HEIGHT="23" CONTENT="of" WIDTH="19" HPOS="870" VPOS="923" ID="st14-338"/></TextLine><TextLine HPOS="129" VPOS="956" ID="tl14-38" WIDTH="58" HEIGHT="12"><String HEIGHT="12" CONTENT="doha" WIDTH="58" HPOS="129" VPOS="956" ID="st14-339"/></TextLine><TextLine HPOS="197" VPOS="950" ID="tl14-39" WIDTH="692" HEIGHT="24"><String HEIGHT="24" CONTENT="Round" WIDTH="67" HPOS="197" VPOS="950" ID="st14-340"/><SP/><String HEIGHT="24" CONTENT="Projections," WIDTH="113" HPOS="273" VPOS="950" ID="st14-341"/><String HEIGHT="24" CONTENT="«" WIDTH="10" HPOS="386" VPOS="950" ID="st14-342"/><SP/><String HEIGHT="24" CONTENT="Global" WIDTH="65" HPOS="406" VPOS="950" ID="st14-343"/><SP/><String HEIGHT="24" CONTENT="Development" WIDTH="130" HPOS="480" VPOS="950" ID="st14-344"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="35" HPOS="620" VPOS="950" ID="st14-345"/><SP/><String HEIGHT="24" CONTENT="Environment" WIDTH="128" HPOS="664" VPOS="950" ID="st14-346"/><SP/><String HEIGHT="24" CONTENT="Institute" WIDTH="79" HPOS="801" VPOS="950" ID="st14-347"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="880" VPOS="950" ID="st14-348"/></TextLine><TextLine HPOS="129" VPOS="978" ID="tl14-40" WIDTH="502" HEIGHT="24"><String HEIGHT="24" CONTENT="Working" WIDTH="83" HPOS="129" VPOS="978" ID="st14-349"/><SP/><String HEIGHT="24" CONTENT="Paper" WIDTH="53" HPOS="217" VPOS="978" ID="st14-350"/><SP/><String HEIGHT="24" CONTENT="No" WIDTH="24" HPOS="275" VPOS="978" ID="st14-351"/><String HEIGHT="24" CONTENT="." WIDTH="13" HPOS="299" VPOS="978" ID="st14-352"/><SP/><String HEIGHT="24" CONTENT="05–01" WIDTH="48" HPOS="318" VPOS="978" ID="st14-353"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="366" VPOS="978" ID="st14-354"/><SP/><String HEIGHT="24" CONTENT="Tufts" WIDTH="48" HPOS="381" VPOS="978" ID="st14-355"/><SP/><String HEIGHT="24" CONTENT="University" WIDTH="92" HPOS="434" VPOS="978" ID="st14-356"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="526" VPOS="978" ID="st14-357"/><SP/><String HEIGHT="24" CONTENT="Medford" WIDTH="78" HPOS="541" VPOS="978" ID="st14-358"/><String HEIGHT="24" CONTENT="," WIDTH="12" HPOS="619" VPOS="978" ID="st14-359"/></TextLine><TextLine HPOS="637" VPOS="983" ID="tl14-41" WIDTH="28" HEIGHT="12"><String HEIGHT="12" CONTENT="ma" WIDTH="28" HPOS="637" VPOS="983" ID="st14-360"/></TextLine><TextLine HPOS="671" VPOS="978" ID="tl14-42" WIDTH="100" HEIGHT="24"><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="671" VPOS="978" ID="st14-361"/><String HEIGHT="24" CONTENT="October" WIDTH="70" HPOS="681" VPOS="978" ID="st14-362"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="751" VPOS="978" ID="st14-363"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="761" VPOS="978" ID="st14-364"/></TextLine><TextLine HPOS="94" VPOS="1006" ID="tl14-43" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="38" WIDTH="17" HPOS="94" VPOS="1006" ID="st14-365"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="111" VPOS="1006" ID="st14-366"/><SP/><String HEIGHT="24" CONTENT="Bairoch" WIDTH="69" HPOS="129" VPOS="1006" ID="st14-367"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="198" VPOS="1006" ID="st14-368"/><SP/><String HEIGHT="24" CONTENT="P" WIDTH="8" HPOS="215" VPOS="1006" ID="st14-369"/><String HEIGHT="24" CONTENT="." WIDTH="8" HPOS="223" VPOS="1006" ID="st14-370"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="35" HPOS="237" VPOS="1006" ID="st14-371"/><SP/><String HEIGHT="24" CONTENT="R" WIDTH="11" HPOS="278" VPOS="1006" ID="st14-372"/><String HEIGHT="24" CONTENT="." WIDTH="12" HPOS="289" VPOS="1006" ID="st14-373"/><SP/><String HEIGHT="24" CONTENT="Kozul" WIDTH="54" HPOS="307" VPOS="1006" ID="st14-374"/><String HEIGHT="24" CONTENT="-" WIDTH="11" HPOS="361" VPOS="1006" ID="st14-375"/><String HEIGHT="24" CONTENT="Wright" WIDTH="65" HPOS="372" VPOS="1006" ID="st14-376"/><String HEIGHT="24" CONTENT="(" WIDTH="9" HPOS="443" VPOS="1006" ID="st14-377"/><String HEIGHT="24" CONTENT="1996" WIDTH="39" HPOS="452" VPOS="1006" ID="st14-378"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="491" VPOS="1006" ID="st14-379"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="501" VPOS="1006" ID="st14-380"/><String HEIGHT="24" CONTENT="»" WIDTH="9" HPOS="517" VPOS="1006" ID="st14-381"/><String HEIGHT="24" CONTENT="Globalization" WIDTH="130" HPOS="526" VPOS="1006" ID="st14-382"/><SP/><String HEIGHT="24" CONTENT="Myths" WIDTH="56" HPOS="662" VPOS="1006" ID="st14-383"/><String HEIGHT="24" CONTENT=":" WIDTH="12" HPOS="718" VPOS="1006" ID="st14-384"/><SP/><String HEIGHT="24" CONTENT="Some" WIDTH="54" HPOS="736" VPOS="1006" ID="st14-385"/><SP/><String HEIGHT="24" CONTENT="Historical" WIDTH="93" HPOS="796" VPOS="1006" ID="st14-386"/></TextLine><TextLine HPOS="129" VPOS="1034" ID="tl14-44" WIDTH="761" HEIGHT="23"><String HEIGHT="23" CONTENT="Reflections" WIDTH="105" HPOS="129" VPOS="1034" ID="st14-387"/><SP/><String HEIGHT="23" CONTENT="on" WIDTH="25" HPOS="238" VPOS="1034" ID="st14-388"/><SP/><String HEIGHT="23" CONTENT="Integration" WIDTH="102" HPOS="268" VPOS="1034" ID="st14-389"/><String HEIGHT="23" CONTENT="," WIDTH="10" HPOS="370" VPOS="1034" ID="st14-390"/><SP/><String HEIGHT="23" CONTENT="Industrialization" WIDTH="155" HPOS="385" VPOS="1034" ID="st14-391"/><SP/><String HEIGHT="23" CONTENT="and" WIDTH="34" HPOS="545" VPOS="1034" ID="st14-392"/><SP/><String HEIGHT="23" CONTENT="Growth" WIDTH="75" HPOS="584" VPOS="1034" ID="st14-393"/><SP/><String HEIGHT="23" CONTENT="in" WIDTH="18" HPOS="664" VPOS="1034" ID="st14-394"/><SP/><String HEIGHT="23" CONTENT="the" WIDTH="29" HPOS="687" VPOS="1034" ID="st14-395"/><SP/><String HEIGHT="23" CONTENT="World" WIDTH="59" HPOS="721" VPOS="1034" ID="st14-396"/><SP/><String HEIGHT="23" CONTENT="Economy," WIDTH="93" HPOS="785" VPOS="1034" ID="st14-397"/><String HEIGHT="23" CONTENT="«" WIDTH="12" HPOS="878" VPOS="1034" ID="st14-398"/></TextLine><TextLine HPOS="129" VPOS="1067" ID="tl14-45" WIDTH="79" HEIGHT="12"><String HEIGHT="12" CONTENT="unctad" WIDTH="79" HPOS="129" VPOS="1067" ID="st14-399"/></TextLine><TextLine HPOS="213" VPOS="1061" ID="tl14-46" WIDTH="676" HEIGHT="24"><String HEIGHT="24" CONTENT="Discussion" WIDTH="102" HPOS="213" VPOS="1061" ID="st14-400"/><SP/><String HEIGHT="24" CONTENT="Paper" WIDTH="52" HPOS="320" VPOS="1061" ID="st14-401"/><SP/><String HEIGHT="24" CONTENT="No" WIDTH="24" HPOS="377" VPOS="1061" ID="st14-402"/><String HEIGHT="24" CONTENT="." WIDTH="13" HPOS="401" VPOS="1061" ID="st14-403"/><SP/><String HEIGHT="24" CONTENT="113" WIDTH="23" HPOS="419" VPOS="1061" ID="st14-404"/><String HEIGHT="24" CONTENT="," WIDTH="8" HPOS="442" VPOS="1061" ID="st14-405"/><SP/><String HEIGHT="24" CONTENT="Geneva" WIDTH="70" HPOS="455" VPOS="1061" ID="st14-406"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="530" VPOS="1061" ID="st14-407"/><String HEIGHT="24" CONTENT="March" WIDTH="54" HPOS="540" VPOS="1061" ID="st14-408"/><String HEIGHT="24" CONTENT=")" WIDTH="11" HPOS="594" VPOS="1061" ID="st14-409"/><String HEIGHT="24" CONTENT=";" WIDTH="11" HPOS="605" VPOS="1061" ID="st14-410"/><SP/><String HEIGHT="24" CONTENT="Clemens" WIDTH="76" HPOS="621" VPOS="1061" ID="st14-411"/><String HEIGHT="24" CONTENT="," WIDTH="11" HPOS="697" VPOS="1061" ID="st14-412"/><SP/><String HEIGHT="24" CONTENT="M" WIDTH="12" HPOS="713" VPOS="1061" ID="st14-413"/><String HEIGHT="24" CONTENT="." WIDTH="13" HPOS="725" VPOS="1061" ID="st14-414"/><String HEIGHT="24" CONTENT="A" WIDTH="12" HPOS="738" VPOS="1061" ID="st14-415"/><String HEIGHT="24" CONTENT="." WIDTH="13" HPOS="750" VPOS="1061" ID="st14-416"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="34" HPOS="768" VPOS="1061" ID="st14-417"/><SP/><String HEIGHT="24" CONTENT="J" WIDTH="9" HPOS="807" VPOS="1061" ID="st14-418"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="816" VPOS="1061" ID="st14-419"/><String HEIGHT="24" CONTENT="G" WIDTH="9" HPOS="825" VPOS="1061" ID="st14-420"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="834" VPOS="1061" ID="st14-421"/><SP/><String HEIGHT="24" CONTENT="Wil" WIDTH="31" HPOS="848" VPOS="1061" ID="st14-422" SUBS_TYPE="HypPart1" SUBS_CONTENT="Williamson"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="1061" HEIGHT="24"/></TextLine><TextLine HPOS="129" VPOS="1089" ID="tl14-47" WIDTH="760" HEIGHT="24"><String HEIGHT="24" CONTENT="liamson" WIDTH="75" HPOS="129" VPOS="1089" ID="st14-423" SUBS_TYPE="HypPart2" SUBS_CONTENT="Williamson"/><String HEIGHT="24" CONTENT="(" WIDTH="9" HPOS="213" VPOS="1089" ID="st14-424"/><String HEIGHT="24" CONTENT="2001" WIDTH="40" HPOS="222" VPOS="1089" ID="st14-425"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="262" VPOS="1089" ID="st14-426"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="272" VPOS="1089" ID="st14-427"/><String HEIGHT="24" CONTENT="»" WIDTH="13" HPOS="291" VPOS="1089" ID="st14-428"/><String HEIGHT="24" CONTENT="A" WIDTH="13" HPOS="304" VPOS="1089" ID="st14-429"/><SP/><String HEIGHT="24" CONTENT="Tariff" WIDTH="61" HPOS="325" VPOS="1089" ID="st14-430"/><String HEIGHT="24" CONTENT="-" WIDTH="11" HPOS="386" VPOS="1089" ID="st14-431"/><String HEIGHT="24" CONTENT="Growth" WIDTH="62" HPOS="397" VPOS="1089" ID="st14-432"/><SP/><String HEIGHT="24" CONTENT="Paradox" WIDTH="74" HPOS="467" VPOS="1089" ID="st14-433"/><String HEIGHT="24" CONTENT="?" WIDTH="11" HPOS="541" VPOS="1089" ID="st14-434"/><SP/><String HEIGHT="24" CONTENT="Protection" WIDTH="93" HPOS="561" VPOS="1089" ID="st14-435"/><String HEIGHT="24" CONTENT="’" WIDTH="9" HPOS="654" VPOS="1089" ID="st14-436"/><String HEIGHT="24" CONTENT="s" WIDTH="10" HPOS="663" VPOS="1089" ID="st14-437"/><SP/><String HEIGHT="24" CONTENT="Impact" WIDTH="67" HPOS="682" VPOS="1089" ID="st14-438"/><SP/><String HEIGHT="24" CONTENT="on" WIDTH="25" HPOS="757" VPOS="1089" ID="st14-439"/><SP/><String HEIGHT="24" CONTENT="the" WIDTH="30" HPOS="791" VPOS="1089" ID="st14-440"/><SP/><String HEIGHT="24" CONTENT="World" WIDTH="60" HPOS="829" VPOS="1089" ID="st14-441"/></TextLine><TextLine HPOS="129" VPOS="1117" ID="tl14-48" WIDTH="760" HEIGHT="24"><String HEIGHT="24" CONTENT="around" WIDTH="67" HPOS="129" VPOS="1117" ID="st14-442"/><SP/><String HEIGHT="24" CONTENT="1875–1997," WIDTH="93" HPOS="200" VPOS="1117" ID="st14-443"/><String HEIGHT="24" CONTENT="«" WIDTH="10" HPOS="293" VPOS="1117" ID="st14-444"/><SP/><String HEIGHT="24" CONTENT="Working" WIDTH="82" HPOS="306" VPOS="1117" ID="st14-445"/><SP/><String HEIGHT="24" CONTENT="Paper" WIDTH="46" HPOS="392" VPOS="1117" ID="st14-446"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="438" VPOS="1117" ID="st14-447"/><SP/><String HEIGHT="24" CONTENT="Center" WIDTH="63" HPOS="452" VPOS="1117" ID="st14-448"/><SP/><String HEIGHT="24" CONTENT="for" WIDTH="27" HPOS="520" VPOS="1117" ID="st14-449"/><SP/><String HEIGHT="24" CONTENT="International" WIDTH="121" HPOS="551" VPOS="1117" ID="st14-450"/><SP/><String HEIGHT="24" CONTENT="Development" WIDTH="121" HPOS="676" VPOS="1117" ID="st14-451"/><String HEIGHT="24" CONTENT="," WIDTH="11" HPOS="797" VPOS="1117" ID="st14-452"/><SP/><String HEIGHT="24" CONTENT="Harvard" WIDTH="77" HPOS="812" VPOS="1117" ID="st14-453"/></TextLine><TextLine HPOS="129" VPOS="1145" ID="tl14-49" WIDTH="222" HEIGHT="24"><String HEIGHT="24" CONTENT="University" WIDTH="95" HPOS="129" VPOS="1145" ID="st14-454"/><String HEIGHT="24" CONTENT=";" WIDTH="10" HPOS="224" VPOS="1145" ID="st14-455"/><SP/><String HEIGHT="24" CONTENT="Cambridge" WIDTH="100" HPOS="239" VPOS="1145" ID="st14-456"/><String HEIGHT="24" CONTENT="," WIDTH="12" HPOS="339" VPOS="1145" ID="st14-457"/></TextLine><TextLine HPOS="356" VPOS="1150" ID="tl14-50" WIDTH="29" HEIGHT="12"><String HEIGHT="12" CONTENT="ma" WIDTH="29" HPOS="356" VPOS="1150" ID="st14-458"/></TextLine><TextLine HPOS="391" VPOS="1145" ID="tl14-51" WIDTH="89" HEIGHT="24"><String HEIGHT="24" CONTENT="(" WIDTH="9" HPOS="391" VPOS="1145" ID="st14-459"/><String HEIGHT="24" CONTENT="August" WIDTH="60" HPOS="400" VPOS="1145" ID="st14-460"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="460" VPOS="1145" ID="st14-461"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="470" VPOS="1145" ID="st14-462"/></TextLine><TextLine HPOS="94" VPOS="1173" ID="tl14-52" WIDTH="795" HEIGHT="23"><String HEIGHT="23" CONTENT="39" WIDTH="18" HPOS="94" VPOS="1173" ID="st14-463"/><String HEIGHT="23" CONTENT="." WIDTH="9" HPOS="112" VPOS="1173" ID="st14-464"/><SP/><String HEIGHT="23" CONTENT="Estevadeordeal" WIDTH="137" HPOS="129" VPOS="1173" ID="st14-465"/><String HEIGHT="23" CONTENT="," WIDTH="10" HPOS="266" VPOS="1173" ID="st14-466"/><SP/><String HEIGHT="23" CONTENT="A" WIDTH="9" HPOS="280" VPOS="1173" ID="st14-467"/><String HEIGHT="23" CONTENT="." WIDTH="9" HPOS="289" VPOS="1173" ID="st14-468"/><String HEIGHT="23" CONTENT="," WIDTH="10" HPOS="298" VPOS="1173" ID="st14-469"/><SP/><String HEIGHT="23" CONTENT="B" WIDTH="10" HPOS="313" VPOS="1173" ID="st14-470"/><String HEIGHT="23" CONTENT="." WIDTH="10" HPOS="323" VPOS="1173" ID="st14-471"/><SP/><String HEIGHT="23" CONTENT="Frantz" WIDTH="57" HPOS="337" VPOS="1173" ID="st14-472"/><String HEIGHT="23" CONTENT="," WIDTH="10" HPOS="394" VPOS="1173" ID="st14-473"/><SP/><String HEIGHT="23" CONTENT="and" WIDTH="35" HPOS="408" VPOS="1173" ID="st14-474"/><SP/><String HEIGHT="23" CONTENT="A" WIDTH="12" HPOS="447" VPOS="1173" ID="st14-475"/><String HEIGHT="23" CONTENT="." WIDTH="12" HPOS="459" VPOS="1173" ID="st14-476"/><String HEIGHT="23" CONTENT="M" WIDTH="12" HPOS="471" VPOS="1173" ID="st14-477"/><String HEIGHT="23" CONTENT="." WIDTH="13" HPOS="483" VPOS="1173" ID="st14-478"/><SP/><String HEIGHT="23" CONTENT="Taylor" WIDTH="60" HPOS="500" VPOS="1173" ID="st14-479"/><String HEIGHT="23" CONTENT="(" WIDTH="10" HPOS="560" VPOS="1173" ID="st14-480"/><String HEIGHT="23" CONTENT="2002" WIDTH="40" HPOS="570" VPOS="1173" ID="st14-481"/><String HEIGHT="23" CONTENT=")" WIDTH="10" HPOS="610" VPOS="1173" ID="st14-482"/><String HEIGHT="23" CONTENT=":" WIDTH="10" HPOS="620" VPOS="1173" ID="st14-483"/><String HEIGHT="23" CONTENT="»" WIDTH="11" HPOS="634" VPOS="1173" ID="st14-484"/><String HEIGHT="23" CONTENT="The" WIDTH="35" HPOS="645" VPOS="1173" ID="st14-485"/><SP/><String HEIGHT="23" CONTENT="Rise" WIDTH="41" HPOS="684" VPOS="1173" ID="st14-486"/><SP/><String HEIGHT="23" CONTENT="and" WIDTH="35" HPOS="729" VPOS="1173" ID="st14-487"/><SP/><String HEIGHT="23" CONTENT="Fall" WIDTH="34" HPOS="768" VPOS="1173" ID="st14-488"/><SP/><String HEIGHT="23" CONTENT="of" WIDTH="19" HPOS="807" VPOS="1173" ID="st14-489"/><SP/><String HEIGHT="23" CONTENT="World" WIDTH="59" HPOS="830" VPOS="1173" ID="st14-490"/></TextLine><TextLine HPOS="129" VPOS="1200" ID="tl14-53" WIDTH="173" HEIGHT="24"><String HEIGHT="24" CONTENT="Trade" WIDTH="49" HPOS="129" VPOS="1200" ID="st14-491"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="178" VPOS="1200" ID="st14-492"/><SP/><String HEIGHT="24" CONTENT="1870–1939" WIDTH="90" HPOS="192" VPOS="1200" ID="st14-493"/><String HEIGHT="24" CONTENT="«" WIDTH="10" HPOS="282" VPOS="1200" ID="st14-494"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="292" VPOS="1200" ID="st14-495"/></TextLine><TextLine HPOS="307" VPOS="1206" ID="tl14-54" WIDTH="52" HEIGHT="12"><String HEIGHT="12" CONTENT="nber" WIDTH="52" HPOS="307" VPOS="1206" ID="st14-496"/></TextLine><TextLine HPOS="364" VPOS="1200" ID="tl14-55" WIDTH="525" HEIGHT="24"><String HEIGHT="24" CONTENT="Working" WIDTH="82" HPOS="364" VPOS="1200" ID="st14-497"/><SP/><String HEIGHT="24" CONTENT="Paper" WIDTH="52" HPOS="451" VPOS="1200" ID="st14-498"/><SP/><String HEIGHT="24" CONTENT="Series" WIDTH="51" HPOS="508" VPOS="1200" ID="st14-499"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="559" VPOS="1200" ID="st14-500"/><SP/><String HEIGHT="24" CONTENT="National" WIDTH="82" HPOS="573" VPOS="1200" ID="st14-501"/><SP/><String HEIGHT="24" CONTENT="Bureau" WIDTH="67" HPOS="660" VPOS="1200" ID="st14-502"/><SP/><String HEIGHT="24" CONTENT="of" WIDTH="19" HPOS="732" VPOS="1200" ID="st14-503"/><SP/><String HEIGHT="24" CONTENT="Economic" WIDTH="95" HPOS="756" VPOS="1200" ID="st14-504"/><SP/><String HEIGHT="24" CONTENT="Re" WIDTH="22" HPOS="856" VPOS="1200" ID="st14-505" SUBS_TYPE="HypPart1" SUBS_CONTENT="Research"/><HYP CONTENT="-" WIDTH="11" HPOS="878" VPOS="1200" HEIGHT="24"/></TextLine><TextLine HPOS="129" VPOS="1228" ID="tl14-56" WIDTH="760" HEIGHT="24"><String HEIGHT="24" CONTENT="search" WIDTH="54" HPOS="129" VPOS="1228" ID="st14-506" SUBS_TYPE="HypPart2" SUBS_CONTENT="Research"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="183" VPOS="1228" ID="st14-507"/><SP/><String HEIGHT="24" CONTENT="Working" WIDTH="82" HPOS="199" VPOS="1228" ID="st14-508"/><SP/><String HEIGHT="24" CONTENT="Paper" WIDTH="52" HPOS="287" VPOS="1228" ID="st14-509"/><SP/><String HEIGHT="24" CONTENT="9318" WIDTH="36" HPOS="345" VPOS="1228" ID="st14-510"/><String HEIGHT="24" CONTENT=";" WIDTH="10" HPOS="381" VPOS="1228" ID="st14-511"/><SP/><String HEIGHT="24" CONTENT="Cambridge" WIDTH="105" HPOS="397" VPOS="1228" ID="st14-512"/><SP/><String HEIGHT="24" CONTENT="Ma" WIDTH="22" HPOS="508" VPOS="1228" ID="st14-513"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="530" VPOS="1228" ID="st14-514"/><String HEIGHT="24" CONTENT="," WIDTH="11" HPOS="541" VPOS="1228" ID="st14-515"/><String HEIGHT="24" CONTENT="(" WIDTH="11" HPOS="557" VPOS="1228" ID="st14-516"/><String HEIGHT="24" CONTENT="November" WIDTH="92" HPOS="568" VPOS="1228" ID="st14-517"/><String HEIGHT="24" CONTENT=")" WIDTH="11" HPOS="660" VPOS="1228" ID="st14-518"/><String HEIGHT="24" CONTENT=";" WIDTH="12" HPOS="671" VPOS="1228" ID="st14-519"/><SP/><String HEIGHT="24" CONTENT="http" WIDTH="40" HPOS="688" VPOS="1228" ID="st14-520"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="728" VPOS="1228" ID="st14-521"/><String HEIGHT="24" CONTENT="//www" WIDTH="50" HPOS="738" VPOS="1228" ID="st14-522"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="788" VPOS="1228" ID="st14-523"/><String HEIGHT="24" CONTENT="nber" WIDTH="40" HPOS="798" VPOS="1228" ID="st14-524"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="838" VPOS="1228" ID="st14-525"/><String HEIGHT="24" CONTENT="org" WIDTH="30" HPOS="848" VPOS="1228" ID="st14-526"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="878" VPOS="1228" ID="st14-527"/></TextLine><TextLine HPOS="129" VPOS="1256" ID="tl14-57" WIDTH="130" HEIGHT="24"><String HEIGHT="24" CONTENT="papers" WIDTH="60" HPOS="129" VPOS="1256" ID="st14-528"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="189" VPOS="1256" ID="st14-529"/><String HEIGHT="24" CONTENT="w9318" WIDTH="50" HPOS="199" VPOS="1256" ID="st14-530"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="249" VPOS="1256" ID="st14-531"/></TextLine><TextLine HPOS="94" VPOS="1284" ID="tl14-58" WIDTH="795" HEIGHT="23"><String HEIGHT="23" CONTENT="40" WIDTH="21" HPOS="94" VPOS="1284" ID="st14-532"/><String HEIGHT="23" CONTENT="." WIDTH="11" HPOS="115" VPOS="1284" ID="st14-533"/><SP/><String HEIGHT="23" CONTENT="Foreman" WIDTH="75" HPOS="129" VPOS="1284" ID="st14-534"/><String HEIGHT="23" CONTENT="-" WIDTH="11" HPOS="204" VPOS="1284" ID="st14-535"/><String HEIGHT="23" CONTENT="Peck" WIDTH="43" HPOS="215" VPOS="1284" ID="st14-536"/><String HEIGHT="23" CONTENT="," WIDTH="11" HPOS="258" VPOS="1284" ID="st14-537"/><SP/><String HEIGHT="23" CONTENT="J" WIDTH="8" HPOS="274" VPOS="1284" ID="st14-538"/><String HEIGHT="23" CONTENT="." WIDTH="9" HPOS="282" VPOS="1284" ID="st14-539"/><String HEIGHT="23" CONTENT="(" WIDTH="8" HPOS="291" VPOS="1284" ID="st14-540"/><String HEIGHT="23" CONTENT="1995" WIDTH="34" HPOS="299" VPOS="1284" ID="st14-541"/><String HEIGHT="23" CONTENT=")" WIDTH="9" HPOS="333" VPOS="1284" ID="st14-542"/><String HEIGHT="23" CONTENT=":" WIDTH="9" HPOS="342" VPOS="1284" ID="st14-543"/><SP/><String HEIGHT="22" CONTENT="A" WIDTH="15" HPOS="357" VPOS="1285" ID="st14-544"/><SP/><String HEIGHT="22" CONTENT="History" WIDTH="64" HPOS="378" VPOS="1285" ID="st14-545"/><SP/><String HEIGHT="22" CONTENT="of" WIDTH="15" HPOS="448" VPOS="1285" ID="st14-546"/><SP/><String HEIGHT="22" CONTENT="the" WIDTH="26" HPOS="468" VPOS="1285" ID="st14-547"/><SP/><String HEIGHT="22" CONTENT="World" WIDTH="55" HPOS="499" VPOS="1285" ID="st14-548"/><SP/><String HEIGHT="22" CONTENT="Economy" WIDTH="70" HPOS="560" VPOS="1285" ID="st14-549"/><String HEIGHT="22" CONTENT="." WIDTH="11" HPOS="630" VPOS="1285" ID="st14-550"/><SP/><String HEIGHT="22" CONTENT="International" WIDTH="119" HPOS="647" VPOS="1285" ID="st14-551"/><SP/><String HEIGHT="22" CONTENT="Economic" WIDTH="82" HPOS="771" VPOS="1285" ID="st14-552"/><SP/><String HEIGHT="22" CONTENT="Re" WIDTH="21" HPOS="858" VPOS="1285" ID="st14-553" SUBS_TYPE="HypPart1" SUBS_CONTENT="Relations"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="1285" HEIGHT="22"/></TextLine><TextLine HPOS="129" VPOS="1313" ID="tl14-59" WIDTH="518" HEIGHT="22"><String HEIGHT="22" CONTENT="lations" WIDTH="58" HPOS="129" VPOS="1313" ID="st14-554" SUBS_TYPE="HypPart2" SUBS_CONTENT="Relations"/><SP/><String HEIGHT="22" CONTENT="Since" WIDTH="45" HPOS="192" VPOS="1313" ID="st14-555"/><SP/><String HEIGHT="22" CONTENT="1850" WIDTH="33" HPOS="243" VPOS="1313" ID="st14-556"/><String HEIGHT="24" CONTENT="." WIDTH="6" HPOS="276" VPOS="1311" ID="st14-557"/><SP/><String HEIGHT="24" CONTENT="New" WIDTH="46" HPOS="287" VPOS="1311" ID="st14-558"/><SP/><String HEIGHT="24" CONTENT="York" WIDTH="40" HPOS="338" VPOS="1311" ID="st14-559"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="378" VPOS="1311" ID="st14-560"/><SP/><String HEIGHT="24" CONTENT="Harvester" WIDTH="91" HPOS="395" VPOS="1311" ID="st14-561"/><SP/><String HEIGHT="24" CONTENT="Wheatsheaf" WIDTH="105" HPOS="491" VPOS="1311" ID="st14-562"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="596" VPOS="1311" ID="st14-563"/><SP/><String HEIGHT="24" CONTENT="197" WIDTH="25" HPOS="613" VPOS="1311" ID="st14-564"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="638" VPOS="1311" ID="st14-565"/></TextLine><TextLine HPOS="94" VPOS="1388" ID="tl14-60" WIDTH="30" HEIGHT="29"><String HEIGHT="29" CONTENT="40" WIDTH="30" HPOS="94" VPOS="1388" ID="st14-566"/></TextLine><TextLine HPOS="144" VPOS="1395" ID="tl14-61" WIDTH="153" HEIGHT="18"><String HEIGHT="18" CONTENT="Sapir" WIDTH="33" HPOS="144" VPOS="1395" ID="st14-567"/><String HEIGHT="18" CONTENT="," WIDTH="7" HPOS="177" VPOS="1395" ID="st14-568"/><SP/><String HEIGHT="18" CONTENT="Financial" WIDTH="65" HPOS="188" VPOS="1395" ID="st14-569"/><SP/><String HEIGHT="18" CONTENT="Crisis" WIDTH="39" HPOS="258" VPOS="1395" ID="st14-570"/></TextLine><TextLine HPOS="799" VPOS="1398" ID="tl14-62" WIDTH="29" HEIGHT="11"><String HEIGHT="11" CONTENT="ipg" WIDTH="29" HPOS="799" VPOS="1398" ID="st14-571"/></TextLine><TextLine HPOS="833" VPOS="1394" ID="tl14-63" WIDTH="56" HEIGHT="21"><String HEIGHT="21" CONTENT="1/2009" WIDTH="56" HPOS="833" VPOS="1394" ID="st14-572"/></TextLine></TextBlock></PrintSpace></Page><Page WIDTH="984" PHYSICAL_IMG_NR="15" ID="p658183" HEIGHT="1472"><PrintSpace WIDTH="984" HPOS="0" VPOS="0" ID="ps658183" HEIGHT="1472"><TextBlock WIDTH="984" HPOS="0" VPOS="0" ID="tb658183" HEIGHT="1472"><TextLine HPOS="94" VPOS="94" ID="tl15-0" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="tional" WIDTH="64" HPOS="94" VPOS="94" ID="st15-0"/><SP/><String HEIGHT="28" CONTENT="trade" WIDTH="56" HPOS="163" VPOS="94" ID="st15-1"/><SP/><String HEIGHT="28" CONTENT="developed" WIDTH="112" HPOS="224" VPOS="94" ID="st15-2"/><SP/><String HEIGHT="28" CONTENT="rapidly" WIDTH="77" HPOS="341" VPOS="94" ID="st15-3"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="423" VPOS="94" ID="st15-4"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="450" VPOS="94" ID="st15-5"/><SP/><String HEIGHT="28" CONTENT="fairly" WIDTH="56" HPOS="467" VPOS="94" ID="st15-6"/><SP/><String HEIGHT="28" CONTENT="protectionist" WIDTH="141" HPOS="528" VPOS="94" ID="st15-7"/><SP/><String HEIGHT="28" CONTENT="global" WIDTH="68" HPOS="674" VPOS="94" ID="st15-8"/><SP/><String HEIGHT="28" CONTENT="environment" WIDTH="142" HPOS="747" VPOS="94" ID="st15-9"/></TextLine><TextLine HPOS="94" VPOS="126" ID="tl15-1" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="because" WIDTH="85" HPOS="94" VPOS="126" ID="st15-10"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="187" VPOS="126" ID="st15-11"/><SP/><String HEIGHT="28" CONTENT="international" WIDTH="142" HPOS="229" VPOS="126" ID="st15-12"/><SP/><String HEIGHT="28" CONTENT="liquidity" WIDTH="93" HPOS="379" VPOS="126" ID="st15-13"/><SP/><String HEIGHT="28" CONTENT="issue" WIDTH="53" HPOS="480" VPOS="126" ID="st15-14"/><SP/><String HEIGHT="28" CONTENT="had" WIDTH="41" HPOS="540" VPOS="126" ID="st15-15"/><SP/><String HEIGHT="28" CONTENT="been" WIDTH="52" HPOS="589" VPOS="126" ID="st15-16"/><SP/><String HEIGHT="28" CONTENT="partially" WIDTH="90" HPOS="649" VPOS="126" ID="st15-17"/><SP/><String HEIGHT="28" CONTENT="addressed" WIDTH="109" HPOS="746" VPOS="126" ID="st15-18"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="27" HPOS="862" VPOS="126" ID="st15-19"/></TextLine><TextLine HPOS="94" VPOS="158" ID="tl15-2" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="94" VPOS="158" ID="st15-20"/><SP/><String HEIGHT="28" CONTENT="Bretton" WIDTH="85" HPOS="136" VPOS="158" ID="st15-21"/><SP/><String HEIGHT="28" CONTENT="Woods" WIDTH="78" HPOS="227" VPOS="158" ID="st15-22"/><SP/><String HEIGHT="28" CONTENT="system" WIDTH="70" HPOS="312" VPOS="158" ID="st15-23"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="382" VPOS="158" ID="st15-24"/><SP/><String HEIGHT="28" CONTENT="but" WIDTH="39" HPOS="400" VPOS="158" ID="st15-25"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="445" VPOS="158" ID="st15-26"/><SP/><String HEIGHT="28" CONTENT="fact" WIDTH="40" HPOS="473" VPOS="158" ID="st15-27"/><SP/><String HEIGHT="28" CONTENT="much" WIDTH="63" HPOS="519" VPOS="158" ID="st15-28"/><SP/><String HEIGHT="28" CONTENT="more" WIDTH="58" HPOS="589" VPOS="158" ID="st15-29"/><SP/><String HEIGHT="28" CONTENT="effectively" WIDTH="110" HPOS="654" VPOS="158" ID="st15-30"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="771" VPOS="158" ID="st15-31"/><SP/><String HEIGHT="28" CONTENT="Western" WIDTH="90" HPOS="799" VPOS="158" ID="st15-32"/></TextLine><TextLine HPOS="94" VPOS="190" ID="tl15-3" WIDTH="473" HEIGHT="28"><String HEIGHT="28" CONTENT="Europe" WIDTH="83" HPOS="94" VPOS="190" ID="st15-33"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="28" HPOS="183" VPOS="190" ID="st15-34"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="217" VPOS="190" ID="st15-35"/><SP/><String HEIGHT="28" CONTENT="European" WIDTH="109" HPOS="259" VPOS="190" ID="st15-36"/><SP/><String HEIGHT="28" CONTENT="Payments" WIDTH="106" HPOS="375" VPOS="190" ID="st15-37"/><SP/><String HEIGHT="28" CONTENT="Union" WIDTH="66" HPOS="487" VPOS="190" ID="st15-38"/><String HEIGHT="28" CONTENT="." WIDTH="14" HPOS="553" VPOS="190" ID="st15-39"/></TextLine><TextLine HPOS="567" VPOS="188" ID="tl15-4" WIDTH="18" HEIGHT="20"><String HEIGHT="20" CONTENT="41" WIDTH="18" HPOS="567" VPOS="188" ID="st15-40"/></TextLine><TextLine HPOS="129" VPOS="222" ID="tl15-5" WIDTH="471" HEIGHT="28"><String HEIGHT="28" CONTENT="With" WIDTH="57" HPOS="129" VPOS="222" ID="st15-41"/><SP/><String HEIGHT="28" CONTENT="Barack" WIDTH="74" HPOS="195" VPOS="222" ID="st15-42"/><SP/><String HEIGHT="28" CONTENT="Obama" WIDTH="69" HPOS="278" VPOS="222" ID="st15-43"/><String HEIGHT="28" CONTENT="’" WIDTH="14" HPOS="347" VPOS="222" ID="st15-44"/><String HEIGHT="28" CONTENT="s" WIDTH="14" HPOS="361" VPOS="222" ID="st15-45"/><SP/><String HEIGHT="28" CONTENT="election" WIDTH="87" HPOS="383" VPOS="222" ID="st15-46"/><SP/><String HEIGHT="28" CONTENT="as" WIDTH="22" HPOS="479" VPOS="222" ID="st15-47"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="36" HPOS="509" VPOS="222" ID="st15-48"/><SP/><String HEIGHT="28" CONTENT="new" WIDTH="47" HPOS="553" VPOS="222" ID="st15-49"/></TextLine><TextLine HPOS="609" VPOS="228" ID="tl15-6" WIDTH="29" HEIGHT="14"><String HEIGHT="14" CONTENT="us" WIDTH="29" HPOS="609" VPOS="228" ID="st15-50"/></TextLine><TextLine HPOS="647" VPOS="222" ID="tl15-7" WIDTH="242" HEIGHT="28"><String HEIGHT="28" CONTENT="President" WIDTH="99" HPOS="647" VPOS="222" ID="st15-51"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="746" VPOS="222" ID="st15-52"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="767" VPOS="222" ID="st15-53"/><SP/><String HEIGHT="28" CONTENT="return" WIDTH="69" HPOS="788" VPOS="222" ID="st15-54"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="866" VPOS="222" ID="st15-55"/></TextLine><TextLine HPOS="94" VPOS="254" ID="tl15-8" WIDTH="776" HEIGHT="28"><String HEIGHT="28" CONTENT="tariffs" WIDTH="63" HPOS="94" VPOS="254" ID="st15-56"/><SP/><String HEIGHT="28" CONTENT="now" WIDTH="49" HPOS="163" VPOS="254" ID="st15-57"/><SP/><String HEIGHT="28" CONTENT="looks" WIDTH="59" HPOS="218" VPOS="254" ID="st15-58"/><SP/><String HEIGHT="28" CONTENT="extremely" WIDTH="108" HPOS="282" VPOS="254" ID="st15-59"/><SP/><String HEIGHT="28" CONTENT="probable" WIDTH="93" HPOS="396" VPOS="254" ID="st15-60"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="489" VPOS="254" ID="st15-61"/><SP/><String HEIGHT="28" CONTENT="as" WIDTH="21" HPOS="507" VPOS="254" ID="st15-62"/><SP/><String HEIGHT="28" CONTENT="was" WIDTH="41" HPOS="534" VPOS="254" ID="st15-63"/><SP/><String HEIGHT="28" CONTENT="forecasted" WIDTH="112" HPOS="580" VPOS="254" ID="st15-64"/><SP/><String HEIGHT="28" CONTENT="some" WIDTH="58" HPOS="698" VPOS="254" ID="st15-65"/><SP/><String HEIGHT="28" CONTENT="years" WIDTH="55" HPOS="762" VPOS="254" ID="st15-66"/><SP/><String HEIGHT="28" CONTENT="ago" WIDTH="35" HPOS="823" VPOS="254" ID="st15-67"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="858" VPOS="254" ID="st15-68"/></TextLine><TextLine HPOS="869" VPOS="252" ID="tl15-9" WIDTH="20" HEIGHT="20"><String HEIGHT="20" CONTENT="42" WIDTH="20" HPOS="869" VPOS="252" ID="st15-69"/></TextLine><TextLine HPOS="94" VPOS="286" ID="tl15-10" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="94" VPOS="286" ID="st15-70"/><SP/><String HEIGHT="28" CONTENT="real" WIDTH="40" HPOS="144" VPOS="286" ID="st15-71"/><SP/><String HEIGHT="28" CONTENT="issue" WIDTH="53" HPOS="191" VPOS="286" ID="st15-72"/><SP/><String HEIGHT="28" CONTENT="now" WIDTH="49" HPOS="251" VPOS="286" ID="st15-73"/><SP/><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="307" VPOS="286" ID="st15-74"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="24" HPOS="331" VPOS="286" ID="st15-75"/><SP/><String HEIGHT="28" CONTENT="understand" WIDTH="125" HPOS="361" VPOS="286" ID="st15-76"/><SP/><String HEIGHT="28" CONTENT="how" WIDTH="49" HPOS="493" VPOS="286" ID="st15-77"/><SP/><String HEIGHT="28" CONTENT="it" WIDTH="16" HPOS="549" VPOS="286" ID="st15-78"/><SP/><String HEIGHT="28" CONTENT="could" WIDTH="62" HPOS="572" VPOS="286" ID="st15-79"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="641" VPOS="286" ID="st15-80"/><SP/><String HEIGHT="28" CONTENT="implemented" WIDTH="146" HPOS="674" VPOS="286" ID="st15-81"/><SP/><String HEIGHT="28" CONTENT="at" WIDTH="20" HPOS="827" VPOS="286" ID="st15-82"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="854" VPOS="286" ID="st15-83"/></TextLine><TextLine HPOS="94" VPOS="324" ID="tl15-11" WIDTH="32" HEIGHT="14"><String HEIGHT="14" CONTENT="eu" WIDTH="32" HPOS="94" VPOS="324" ID="st15-84"/></TextLine><TextLine HPOS="132" VPOS="318" ID="tl15-12" WIDTH="57" HEIGHT="28"><String HEIGHT="28" CONTENT="level" WIDTH="47" HPOS="132" VPOS="318" ID="st15-85"/><String HEIGHT="28" CONTENT="." WIDTH="10" HPOS="179" VPOS="318" ID="st15-86"/></TextLine><TextLine HPOS="129" VPOS="350" ID="tl15-13" WIDTH="760" HEIGHT="28"><String HEIGHT="28" CONTENT="Returning" WIDTH="115" HPOS="129" VPOS="350" ID="st15-87"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="24" HPOS="251" VPOS="350" ID="st15-88"/><SP/><String HEIGHT="28" CONTENT="an" WIDTH="26" HPOS="282" VPOS="350" ID="st15-89"/><SP/><String HEIGHT="28" CONTENT="effective" WIDTH="91" HPOS="316" VPOS="350" ID="st15-90"/><String HEIGHT="28" CONTENT="»" WIDTH="16" HPOS="414" VPOS="350" ID="st15-91"/><String HEIGHT="28" CONTENT="common" WIDTH="97" HPOS="430" VPOS="350" ID="st15-92"/><SP/><String HEIGHT="28" CONTENT="import" WIDTH="77" HPOS="534" VPOS="350" ID="st15-93"/><SP/><String HEIGHT="28" CONTENT="tariff," WIDTH="63" HPOS="619" VPOS="350" ID="st15-94"/><String HEIGHT="28" CONTENT="«" WIDTH="9" HPOS="682" VPOS="350" ID="st15-95"/><SP/><String HEIGHT="28" CONTENT="as" WIDTH="21" HPOS="698" VPOS="350" ID="st15-96"/><SP/><String HEIGHT="28" CONTENT="was" WIDTH="41" HPOS="726" VPOS="350" ID="st15-97"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="775" VPOS="350" ID="st15-98"/><SP/><String HEIGHT="28" CONTENT="rule" WIDTH="43" HPOS="817" VPOS="350" ID="st15-99"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="867" VPOS="350" ID="st15-100"/></TextLine><TextLine HPOS="94" VPOS="381" ID="tl15-14" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="94" VPOS="381" ID="st15-101"/><String HEIGHT="29" CONTENT="»" WIDTH="17" HPOS="136" VPOS="381" ID="st15-102"/><String HEIGHT="29" CONTENT="Common" WIDTH="104" HPOS="153" VPOS="381" ID="st15-103"/><SP/><String HEIGHT="29" CONTENT="Market," WIDTH="86" HPOS="265" VPOS="381" ID="st15-104"/><String HEIGHT="29" CONTENT="«" WIDTH="13" HPOS="351" VPOS="381" ID="st15-105"/><SP/><String HEIGHT="29" CONTENT="would" WIDTH="71" HPOS="371" VPOS="381" ID="st15-106"/><SP/><String HEIGHT="29" CONTENT="be" WIDTH="26" HPOS="450" VPOS="381" ID="st15-107"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="12" HPOS="484" VPOS="381" ID="st15-108"/><SP/><String HEIGHT="29" CONTENT="first" WIDTH="44" HPOS="503" VPOS="381" ID="st15-109"/><SP/><String HEIGHT="29" CONTENT="step" WIDTH="41" HPOS="554" VPOS="381" ID="st15-110"/><String HEIGHT="29" CONTENT="." WIDTH="11" HPOS="595" VPOS="381" ID="st15-111"/><SP/><String HEIGHT="29" CONTENT="However" WIDTH="96" HPOS="613" VPOS="381" ID="st15-112"/><String HEIGHT="29" CONTENT="," WIDTH="14" HPOS="709" VPOS="381" ID="st15-113"/><SP/><String HEIGHT="29" CONTENT="in" WIDTH="21" HPOS="731" VPOS="381" ID="st15-114"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="760" VPOS="381" ID="st15-115"/><SP/><String HEIGHT="29" CONTENT="wake" WIDTH="56" HPOS="803" VPOS="381" ID="st15-116"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="866" VPOS="381" ID="st15-117"/></TextLine><TextLine HPOS="94" VPOS="413" ID="tl15-15" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="enlargement" WIDTH="138" HPOS="94" VPOS="413" ID="st15-118"/><SP/><String HEIGHT="29" CONTENT="social" WIDTH="61" HPOS="238" VPOS="413" ID="st15-119"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="305" VPOS="413" ID="st15-120"/><SP/><String HEIGHT="29" CONTENT="environmental" WIDTH="161" HPOS="352" VPOS="413" ID="st15-121"/><SP/><String HEIGHT="29" CONTENT="dumping" WIDTH="102" HPOS="519" VPOS="413" ID="st15-122"/><SP/><String HEIGHT="29" CONTENT="are" WIDTH="33" HPOS="627" VPOS="413" ID="st15-123"/><SP/><String HEIGHT="29" CONTENT="now" WIDTH="49" HPOS="666" VPOS="413" ID="st15-124"/><SP/><String HEIGHT="29" CONTENT="taking" WIDTH="70" HPOS="721" VPOS="413" ID="st15-125"/><SP/><String HEIGHT="29" CONTENT="place" WIDTH="56" HPOS="797" VPOS="413" ID="st15-126"/><SP/><String HEIGHT="29" CONTENT="in" WIDTH="20" HPOS="859" VPOS="413" ID="st15-127" SUBS_TYPE="HypPart1" SUBS_CONTENT="inside"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="413" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="445" ID="tl15-16" WIDTH="85" HEIGHT="29"><String HEIGHT="29" CONTENT="side" WIDTH="43" HPOS="94" VPOS="445" ID="st15-128" SUBS_TYPE="HypPart2" SUBS_CONTENT="inside"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="36" HPOS="143" VPOS="445" ID="st15-129"/></TextLine><TextLine HPOS="185" VPOS="452" ID="tl15-17" WIDTH="31" HEIGHT="14"><String HEIGHT="14" CONTENT="eu" WIDTH="31" HPOS="185" VPOS="452" ID="st15-130"/></TextLine><TextLine HPOS="222" VPOS="445" ID="tl15-18" WIDTH="667" HEIGHT="29"><String HEIGHT="29" CONTENT="itself" WIDTH="50" HPOS="222" VPOS="445" ID="st15-131"/><String HEIGHT="29" CONTENT="." WIDTH="9" HPOS="272" VPOS="445" ID="st15-132"/><SP/><String HEIGHT="29" CONTENT="As" WIDTH="28" HPOS="287" VPOS="445" ID="st15-133"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="12" HPOS="321" VPOS="445" ID="st15-134"/><SP/><String HEIGHT="29" CONTENT="provisional" WIDTH="124" HPOS="339" VPOS="445" ID="st15-135"/><SP/><String HEIGHT="29" CONTENT="system" WIDTH="75" HPOS="469" VPOS="445" ID="st15-136"/><SP/><String HEIGHT="29" CONTENT="before" WIDTH="71" HPOS="550" VPOS="445" ID="st15-137"/><SP/><String HEIGHT="29" CONTENT="more" WIDTH="58" HPOS="627" VPOS="445" ID="st15-138"/><SP/><String HEIGHT="29" CONTENT="effective" WIDTH="91" HPOS="691" VPOS="445" ID="st15-139"/><SP/><String HEIGHT="29" CONTENT="decisions" WIDTH="101" HPOS="788" VPOS="445" ID="st15-140"/></TextLine><TextLine HPOS="94" VPOS="477" ID="tl15-19" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="are" WIDTH="33" HPOS="94" VPOS="477" ID="st15-141"/><SP/><String HEIGHT="29" CONTENT="taken" WIDTH="60" HPOS="132" VPOS="477" ID="st15-142"/><SP/><String HEIGHT="29" CONTENT="on" WIDTH="29" HPOS="197" VPOS="477" ID="st15-143"/><SP/><String HEIGHT="29" CONTENT="social" WIDTH="62" HPOS="231" VPOS="477" ID="st15-144"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="298" VPOS="477" ID="st15-145"/><SP/><String HEIGHT="29" CONTENT="economic" WIDTH="108" HPOS="344" VPOS="477" ID="st15-146"/><SP/><String HEIGHT="29" CONTENT="convergence" WIDTH="132" HPOS="457" VPOS="477" ID="st15-147"/><String HEIGHT="29" CONTENT="," WIDTH="13" HPOS="589" VPOS="477" ID="st15-148"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="607" VPOS="477" ID="st15-149"/><String HEIGHT="29" CONTENT="»" WIDTH="13" HPOS="647" VPOS="477" ID="st15-150"/><String HEIGHT="29" CONTENT="monetary" WIDTH="105" HPOS="660" VPOS="477" ID="st15-151"/><SP/><String HEIGHT="29" CONTENT="compensa" WIDTH="106" HPOS="770" VPOS="477" ID="st15-152" SUBS_TYPE="HypPart1" SUBS_CONTENT="compensatory"/><HYP CONTENT="-" WIDTH="13" HPOS="876" VPOS="477" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="509" ID="tl15-20" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="tory" WIDTH="45" HPOS="94" VPOS="509" ID="st15-153" SUBS_TYPE="HypPart2" SUBS_CONTENT="compensatory"/><SP/><String HEIGHT="29" CONTENT="amount" WIDTH="84" HPOS="146" VPOS="509" ID="st15-154"/><String HEIGHT="29" CONTENT="«" WIDTH="15" HPOS="230" VPOS="509" ID="st15-155"/><SP/><String HEIGHT="29" CONTENT="used" WIDTH="51" HPOS="251" VPOS="509" ID="st15-156"/><SP/><String HEIGHT="29" CONTENT="in" WIDTH="22" HPOS="308" VPOS="509" ID="st15-157"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="337" VPOS="509" ID="st15-158"/><SP/><String HEIGHT="29" CONTENT="1960s" WIDTH="62" HPOS="378" VPOS="509" ID="st15-159"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="40" HPOS="447" VPOS="509" ID="st15-160"/><SP/><String HEIGHT="29" CONTENT="1970s" WIDTH="60" HPOS="494" VPOS="509" ID="st15-161"/><SP/><String HEIGHT="29" CONTENT="should" WIDTH="75" HPOS="561" VPOS="509" ID="st15-162"/><SP/><String HEIGHT="29" CONTENT="be" WIDTH="27" HPOS="642" VPOS="509" ID="st15-163"/><SP/><String HEIGHT="29" CONTENT="revived" WIDTH="77" HPOS="675" VPOS="509" ID="st15-164"/><String HEIGHT="29" CONTENT="." WIDTH="11" HPOS="752" VPOS="509" ID="st15-165"/><SP/><String HEIGHT="29" CONTENT="It" WIDTH="19" HPOS="769" VPOS="509" ID="st15-166"/><SP/><String HEIGHT="29" CONTENT="could" WIDTH="62" HPOS="795" VPOS="509" ID="st15-167"/><SP/><String HEIGHT="29" CONTENT="be" WIDTH="26" HPOS="863" VPOS="509" ID="st15-168"/></TextLine><TextLine HPOS="94" VPOS="541" ID="tl15-21" WIDTH="324" HEIGHT="28"><String HEIGHT="28" CONTENT="used" WIDTH="51" HPOS="94" VPOS="541" ID="st15-169"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="152" VPOS="541" ID="st15-170"/><SP/><String HEIGHT="28" CONTENT="increase" WIDTH="87" HPOS="182" VPOS="541" ID="st15-171"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="276" VPOS="541" ID="st15-172"/><SP/><String HEIGHT="28" CONTENT="common" WIDTH="100" HPOS="318" VPOS="541" ID="st15-173"/></TextLine><TextLine HPOS="425" VPOS="547" ID="tl15-22" WIDTH="31" HEIGHT="15"><String HEIGHT="15" CONTENT="eu" WIDTH="31" HPOS="425" VPOS="547" ID="st15-174"/></TextLine><TextLine HPOS="463" VPOS="541" ID="tl15-23" WIDTH="426" HEIGHT="28"><String HEIGHT="28" CONTENT="budget" WIDTH="79" HPOS="463" VPOS="541" ID="st15-175"/><SP/><String HEIGHT="28" CONTENT="–" WIDTH="14" HPOS="548" VPOS="541" ID="st15-176"/><SP/><String HEIGHT="28" CONTENT="enabling" WIDTH="96" HPOS="568" VPOS="541" ID="st15-177"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="670" VPOS="541" ID="st15-178"/><SP/><String HEIGHT="28" CONTENT="implementation" WIDTH="177" HPOS="712" VPOS="541" ID="st15-179"/></TextLine><TextLine HPOS="94" VPOS="573" ID="tl15-24" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="94" VPOS="573" ID="st15-180"/><SP/><String HEIGHT="28" CONTENT="large" WIDTH="54" HPOS="124" VPOS="573" ID="st15-181"/><SP/><String HEIGHT="28" CONTENT="development" WIDTH="144" HPOS="186" VPOS="573" ID="st15-182"/><SP/><String HEIGHT="28" CONTENT="projects" WIDTH="87" HPOS="338" VPOS="573" ID="st15-183"/><SP/><String HEIGHT="28" CONTENT="–" WIDTH="14" HPOS="432" VPOS="573" ID="st15-184"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="453" VPOS="573" ID="st15-185"/><SP/><String HEIGHT="28" CONTENT="would" WIDTH="71" HPOS="502" VPOS="573" ID="st15-186"/><SP/><String HEIGHT="28" CONTENT="prevent" WIDTH="84" HPOS="580" VPOS="573" ID="st15-187"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="672" VPOS="573" ID="st15-188"/><SP/><String HEIGHT="28" CONTENT="development" WIDTH="145" HPOS="714" VPOS="573" ID="st15-189"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="866" VPOS="573" ID="st15-190"/></TextLine><TextLine HPOS="94" VPOS="605" ID="tl15-25" WIDTH="383" HEIGHT="28"><String HEIGHT="28" CONTENT="neo" WIDTH="33" HPOS="94" VPOS="605" ID="st15-191"/><String HEIGHT="28" CONTENT="-" WIDTH="12" HPOS="127" VPOS="605" ID="st15-192"/><String HEIGHT="28" CONTENT="mercantilist" WIDTH="135" HPOS="139" VPOS="605" ID="st15-193"/><SP/><String HEIGHT="28" CONTENT="policies" WIDTH="84" HPOS="280" VPOS="605" ID="st15-194"/><SP/><String HEIGHT="28" CONTENT="inside" WIDTH="66" HPOS="370" VPOS="605" ID="st15-195"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="442" VPOS="605" ID="st15-196"/></TextLine><TextLine HPOS="484" VPOS="611" ID="tl15-26" WIDTH="32" HEIGHT="15"><String HEIGHT="15" CONTENT="eu" WIDTH="32" HPOS="484" VPOS="611" ID="st15-197"/></TextLine><TextLine HPOS="516" VPOS="605" ID="tl15-27" WIDTH="7" HEIGHT="28"><String HEIGHT="28" CONTENT="." WIDTH="7" HPOS="516" VPOS="605" ID="st15-198"/></TextLine><TextLine HPOS="94" VPOS="701" ID="tl15-28" WIDTH="364" HEIGHT="27"><String HEIGHT="27" CONTENT="What" WIDTH="68" HPOS="94" VPOS="701" ID="st15-199"/><SP/><String HEIGHT="27" CONTENT="New" WIDTH="58" HPOS="170" VPOS="701" ID="st15-200"/><SP/><String HEIGHT="27" CONTENT="Monetary" WIDTH="127" HPOS="236" VPOS="701" ID="st15-201"/><SP/><String HEIGHT="27" CONTENT="Order" WIDTH="73" HPOS="370" VPOS="701" ID="st15-202"/><String HEIGHT="27" CONTENT="?" WIDTH="15" HPOS="443" VPOS="701" ID="st15-203"/></TextLine><TextLine HPOS="94" VPOS="765" ID="tl15-29" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="94" VPOS="765" ID="st15-204"/><SP/><String HEIGHT="28" CONTENT="analysis" WIDTH="84" HPOS="145" VPOS="765" ID="st15-205"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="237" VPOS="765" ID="st15-206"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="267" VPOS="765" ID="st15-207"/><SP/><String HEIGHT="28" CONTENT="roots" WIDTH="58" HPOS="310" VPOS="765" ID="st15-208"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="375" VPOS="765" ID="st15-209"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="406" VPOS="765" ID="st15-210"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="55" HPOS="448" VPOS="765" ID="st15-211"/><SP/><String HEIGHT="28" CONTENT="presented" WIDTH="107" HPOS="511" VPOS="765" ID="st15-212"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="626" VPOS="765" ID="st15-213"/><SP/><String HEIGHT="28" CONTENT="this" WIDTH="41" HPOS="655" VPOS="765" ID="st15-214"/><SP/><String HEIGHT="28" CONTENT="article" WIDTH="67" HPOS="703" VPOS="765" ID="st15-215"/><SP/><String HEIGHT="28" CONTENT="highlights" WIDTH="111" HPOS="778" VPOS="765" ID="st15-216"/></TextLine><TextLine HPOS="94" VPOS="797" ID="tl15-30" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="94" VPOS="797" ID="st15-217"/><SP/><String HEIGHT="28" CONTENT="responsibility" WIDTH="149" HPOS="135" VPOS="797" ID="st15-218"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="290" VPOS="797" ID="st15-219"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="319" VPOS="797" ID="st15-220"/><SP/><String HEIGHT="28" CONTENT="current" WIDTH="80" HPOS="360" VPOS="797" ID="st15-221"/><SP/><String HEIGHT="28" CONTENT="international" WIDTH="142" HPOS="447" VPOS="797" ID="st15-222"/><SP/><String HEIGHT="28" CONTENT="monetary" WIDTH="105" HPOS="595" VPOS="797" ID="st15-223"/><SP/><String HEIGHT="28" CONTENT="non" WIDTH="37" HPOS="707" VPOS="797" ID="st15-224"/><String HEIGHT="28" CONTENT="-" WIDTH="13" HPOS="744" VPOS="797" ID="st15-225"/><String HEIGHT="28" CONTENT="order" WIDTH="63" HPOS="757" VPOS="797" ID="st15-226"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="826" VPOS="797" ID="st15-227"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="854" VPOS="797" ID="st15-228"/></TextLine><TextLine HPOS="94" VPOS="829" ID="tl15-31" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="process" WIDTH="77" HPOS="94" VPOS="829" ID="st15-229"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="171" VPOS="829" ID="st15-230"/><SP/><String HEIGHT="28" CONTENT="There" WIDTH="66" HPOS="191" VPOS="829" ID="st15-231"/><SP/><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="266" VPOS="829" ID="st15-232"/><SP/><String HEIGHT="28" CONTENT="no" WIDTH="30" HPOS="292" VPOS="829" ID="st15-233"/><SP/><String HEIGHT="28" CONTENT="doubt" WIDTH="68" HPOS="331" VPOS="829" ID="st15-234"/><SP/><String HEIGHT="28" CONTENT="that" WIDTH="44" HPOS="408" VPOS="829" ID="st15-235"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="461" VPOS="829" ID="st15-236"/><SP/><String HEIGHT="28" CONTENT="deep" WIDTH="53" HPOS="482" VPOS="829" ID="st15-237"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="544" VPOS="829" ID="st15-238"/><SP/><String HEIGHT="28" CONTENT="far" WIDTH="33" HPOS="594" VPOS="829" ID="st15-239"/><String HEIGHT="28" CONTENT="-" WIDTH="11" HPOS="627" VPOS="829" ID="st15-240"/><String HEIGHT="28" CONTENT="reaching" WIDTH="89" HPOS="638" VPOS="829" ID="st15-241"/><SP/><String HEIGHT="28" CONTENT="reform" WIDTH="77" HPOS="736" VPOS="829" ID="st15-242"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="822" VPOS="829" ID="st15-243"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="854" VPOS="829" ID="st15-244"/></TextLine><TextLine HPOS="94" VPOS="861" ID="tl15-32" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="monetary" WIDTH="106" HPOS="94" VPOS="861" ID="st15-245"/><SP/><String HEIGHT="28" CONTENT="order" WIDTH="60" HPOS="205" VPOS="861" ID="st15-246"/><SP/><String HEIGHT="28" CONTENT="will" WIDTH="41" HPOS="270" VPOS="861" ID="st15-247"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="27" HPOS="316" VPOS="861" ID="st15-248"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="348" VPOS="861" ID="st15-249"/><SP/><String HEIGHT="28" CONTENT="condition" WIDTH="108" HPOS="365" VPOS="861" ID="st15-250"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="478" VPOS="861" ID="st15-251"/><SP/><String HEIGHT="28" CONTENT="getting" WIDTH="79" HPOS="506" VPOS="861" ID="st15-252"/><SP/><String HEIGHT="28" CONTENT="out" WIDTH="39" HPOS="590" VPOS="861" ID="st15-253"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="634" VPOS="861" ID="st15-254"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="662" VPOS="861" ID="st15-255"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="55" HPOS="702" VPOS="861" ID="st15-256"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="762" VPOS="861" ID="st15-257"/><SP/><String HEIGHT="28" CONTENT="finding" WIDTH="80" HPOS="809" VPOS="861" ID="st15-258"/></TextLine><TextLine HPOS="94" VPOS="893" ID="tl15-33" WIDTH="286" HEIGHT="28"><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="94" VPOS="893" ID="st15-259"/><SP/><String HEIGHT="28" CONTENT="new" WIDTH="47" HPOS="112" VPOS="893" ID="st15-260"/><SP/><String HEIGHT="28" CONTENT="stable" WIDTH="63" HPOS="165" VPOS="893" ID="st15-261"/><SP/><String HEIGHT="28" CONTENT="growth" WIDTH="82" HPOS="235" VPOS="893" ID="st15-262"/><SP/><String HEIGHT="28" CONTENT="path" WIDTH="45" HPOS="323" VPOS="893" ID="st15-263"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="368" VPOS="893" ID="st15-264"/></TextLine><TextLine HPOS="129" VPOS="925" ID="tl15-34" WIDTH="760" HEIGHT="28"><String HEIGHT="28" CONTENT="Huge" WIDTH="64" HPOS="129" VPOS="925" ID="st15-265"/><SP/><String HEIGHT="28" CONTENT="debt" WIDTH="50" HPOS="200" VPOS="925" ID="st15-266"/><SP/><String HEIGHT="28" CONTENT="accumulation" WIDTH="150" HPOS="257" VPOS="925" ID="st15-267"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="413" VPOS="925" ID="st15-268"/><SP/><String HEIGHT="28" CONTENT="inflationary" WIDTH="128" HPOS="461" VPOS="925" ID="st15-269"/><SP/><String HEIGHT="28" CONTENT="trends" WIDTH="69" HPOS="596" VPOS="925" ID="st15-270"/><SP/><String HEIGHT="28" CONTENT="as" WIDTH="21" HPOS="672" VPOS="925" ID="st15-271"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="700" VPOS="925" ID="st15-272"/><SP/><String HEIGHT="28" CONTENT="consequence" WIDTH="140" HPOS="719" VPOS="925" ID="st15-273"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="866" VPOS="925" ID="st15-274"/></TextLine><TextLine HPOS="94" VPOS="956" ID="tl15-35" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="94" VPOS="956" ID="st15-275"/><SP/><String HEIGHT="29" CONTENT="crisis" WIDTH="55" HPOS="138" VPOS="956" ID="st15-276"/><SP/><String HEIGHT="29" CONTENT="will" WIDTH="41" HPOS="201" VPOS="956" ID="st15-277"/><SP/><String HEIGHT="29" CONTENT="induce" WIDTH="74" HPOS="251" VPOS="956" ID="st15-278"/><SP/><String HEIGHT="29" CONTENT="such" WIDTH="50" HPOS="334" VPOS="956" ID="st15-279"/><SP/><String HEIGHT="29" CONTENT="volatility" WIDTH="96" HPOS="393" VPOS="956" ID="st15-280"/><SP/><String HEIGHT="29" CONTENT="on" WIDTH="29" HPOS="498" VPOS="956" ID="st15-281"/><SP/><String HEIGHT="29" CONTENT="currency" WIDTH="95" HPOS="536" VPOS="956" ID="st15-282"/><SP/><String HEIGHT="29" CONTENT="exchange" WIDTH="101" HPOS="640" VPOS="956" ID="st15-283"/><SP/><String HEIGHT="29" CONTENT="markets" WIDTH="87" HPOS="750" VPOS="956" ID="st15-284"/><SP/><String HEIGHT="29" CONTENT="that" WIDTH="43" HPOS="846" VPOS="956" ID="st15-285"/></TextLine><TextLine HPOS="94" VPOS="988" ID="tl15-36" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="94" VPOS="988" ID="st15-286"/><SP/><String HEIGHT="29" CONTENT="current" WIDTH="81" HPOS="136" VPOS="988" ID="st15-287"/><SP/><String HEIGHT="29" CONTENT="situation" WIDTH="97" HPOS="224" VPOS="988" ID="st15-288"/><SP/><String HEIGHT="29" CONTENT="might" WIDTH="67" HPOS="328" VPOS="988" ID="st15-289"/><SP/><String HEIGHT="29" CONTENT="become" WIDTH="86" HPOS="402" VPOS="988" ID="st15-290"/><SP/><String HEIGHT="29" CONTENT="unbearable" WIDTH="122" HPOS="495" VPOS="988" ID="st15-291"/><SP/><String HEIGHT="29" CONTENT="relatively" WIDTH="99" HPOS="624" VPOS="988" ID="st15-292"/><SP/><String HEIGHT="29" CONTENT="quickly" WIDTH="75" HPOS="730" VPOS="988" ID="st15-293"/><String HEIGHT="29" CONTENT="." WIDTH="11" HPOS="805" VPOS="988" ID="st15-294"/><SP/><String HEIGHT="29" CONTENT="How" WIDTH="50" HPOS="823" VPOS="988" ID="st15-295" SUBS_TYPE="HypPart1" SUBS_CONTENT="However"/><HYP CONTENT="-" WIDTH="16" HPOS="873" VPOS="988" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="1020" ID="tl15-37" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="ever" WIDTH="40" HPOS="94" VPOS="1020" ID="st15-296" SUBS_TYPE="HypPart2" SUBS_CONTENT="However"/><String HEIGHT="29" CONTENT="," WIDTH="11" HPOS="134" VPOS="1020" ID="st15-297"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="153" VPOS="1020" ID="st15-298"/><SP/><String HEIGHT="29" CONTENT="road" WIDTH="51" HPOS="196" VPOS="1020" ID="st15-299"/><SP/><String HEIGHT="29" CONTENT="towards" WIDTH="89" HPOS="255" VPOS="1020" ID="st15-300"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="12" HPOS="351" VPOS="1020" ID="st15-301"/><String HEIGHT="29" CONTENT="»" WIDTH="14" HPOS="371" VPOS="1020" ID="st15-302"/><String HEIGHT="29" CONTENT="new" WIDTH="45" HPOS="385" VPOS="1020" ID="st15-303"/><SP/><String HEIGHT="29" CONTENT="Bretton" WIDTH="85" HPOS="438" VPOS="1020" ID="st15-304"/><SP/><String HEIGHT="29" CONTENT="Woods" WIDTH="75" HPOS="531" VPOS="1020" ID="st15-305"/><String HEIGHT="29" CONTENT="«" WIDTH="16" HPOS="606" VPOS="1020" ID="st15-306"/><SP/><String HEIGHT="29" CONTENT="is" WIDTH="17" HPOS="630" VPOS="1020" ID="st15-307"/><SP/><String HEIGHT="29" CONTENT="fraught" WIDTH="81" HPOS="655" VPOS="1020" ID="st15-308"/><SP/><String HEIGHT="29" CONTENT="with" WIDTH="50" HPOS="744" VPOS="1020" ID="st15-309"/><SP/><String HEIGHT="29" CONTENT="difficul" WIDTH="78" HPOS="802" VPOS="1020" ID="st15-310" SUBS_TYPE="HypPart1" SUBS_CONTENT="difficulties"/><HYP CONTENT="-" WIDTH="9" HPOS="880" VPOS="1020" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="1052" ID="tl15-38" WIDTH="45" HEIGHT="29"><String HEIGHT="29" CONTENT="ties" WIDTH="36" HPOS="94" VPOS="1052" ID="st15-311" SUBS_TYPE="HypPart2" SUBS_CONTENT="difficulties"/><String HEIGHT="29" CONTENT="." WIDTH="9" HPOS="130" VPOS="1052" ID="st15-312"/></TextLine><TextLine HPOS="129" VPOS="1084" ID="tl15-39" WIDTH="760" HEIGHT="29"><String HEIGHT="29" CONTENT="Clearly" WIDTH="79" HPOS="129" VPOS="1084" ID="st15-313"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="217" VPOS="1084" ID="st15-314"/><SP/><String HEIGHT="29" CONTENT="best" WIDTH="45" HPOS="261" VPOS="1084" ID="st15-315"/><SP/><String HEIGHT="29" CONTENT="option" WIDTH="74" HPOS="315" VPOS="1084" ID="st15-316"/><SP/><String HEIGHT="29" CONTENT="would" WIDTH="71" HPOS="398" VPOS="1084" ID="st15-317"/><SP/><String HEIGHT="29" CONTENT="be" WIDTH="26" HPOS="478" VPOS="1084" ID="st15-318"/><SP/><String HEIGHT="29" CONTENT="an" WIDTH="27" HPOS="513" VPOS="1084" ID="st15-319"/><SP/><String HEIGHT="29" CONTENT="international" WIDTH="143" HPOS="548" VPOS="1084" ID="st15-320"/><SP/><String HEIGHT="29" CONTENT="monetary" WIDTH="105" HPOS="700" VPOS="1084" ID="st15-321"/><SP/><String HEIGHT="29" CONTENT="system" WIDTH="75" HPOS="814" VPOS="1084" ID="st15-322"/></TextLine><TextLine HPOS="94" VPOS="1116" ID="tl15-40" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="modeled" WIDTH="97" HPOS="94" VPOS="1116" ID="st15-323"/><SP/><String HEIGHT="28" CONTENT="closely" WIDTH="74" HPOS="199" VPOS="1116" ID="st15-324"/><SP/><String HEIGHT="28" CONTENT="on" WIDTH="29" HPOS="282" VPOS="1116" ID="st15-325"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="320" VPOS="1116" ID="st15-326"/><SP/><String HEIGHT="28" CONTENT="ideas" WIDTH="55" HPOS="363" VPOS="1116" ID="st15-327"/><SP/><String HEIGHT="28" CONTENT="espoused" WIDTH="102" HPOS="427" VPOS="1116" ID="st15-328"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="28" HPOS="537" VPOS="1116" ID="st15-329"/><SP/><String HEIGHT="28" CONTENT="Keynes" WIDTH="79" HPOS="573" VPOS="1116" ID="st15-330"/><SP/><String HEIGHT="28" CONTENT="around" WIDTH="80" HPOS="661" VPOS="1116" ID="st15-331"/><SP/><String HEIGHT="28" CONTENT="1942" WIDTH="51" HPOS="750" VPOS="1116" ID="st15-332"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="24" HPOS="809" VPOS="1116" ID="st15-333"/><SP/><String HEIGHT="28" CONTENT="1945" WIDTH="47" HPOS="842" VPOS="1116" ID="st15-334"/></TextLine><TextLine HPOS="94" VPOS="1173" ID="tl15-41" WIDTH="795" HEIGHT="23"><String HEIGHT="23" CONTENT="41" WIDTH="18" HPOS="94" VPOS="1173" ID="st15-335"/><String HEIGHT="23" CONTENT="." WIDTH="9" HPOS="112" VPOS="1173" ID="st15-336"/><SP/><String HEIGHT="23" CONTENT="Kaplan" WIDTH="62" HPOS="129" VPOS="1173" ID="st15-337"/><String HEIGHT="23" CONTENT="," WIDTH="11" HPOS="191" VPOS="1173" ID="st15-338"/><SP/><String HEIGHT="23" CONTENT="J" WIDTH="7" HPOS="209" VPOS="1173" ID="st15-339"/><String HEIGHT="23" CONTENT="." WIDTH="7" HPOS="216" VPOS="1173" ID="st15-340"/><SP/><String HEIGHT="23" CONTENT="and" WIDTH="34" HPOS="230" VPOS="1173" ID="st15-341"/><SP/><String HEIGHT="23" CONTENT="G" WIDTH="11" HPOS="272" VPOS="1173" ID="st15-342"/><String HEIGHT="23" CONTENT="." WIDTH="12" HPOS="283" VPOS="1173" ID="st15-343"/><SP/><String HEIGHT="23" CONTENT="Schleiminger" WIDTH="119" HPOS="302" VPOS="1173" ID="st15-344"/><String HEIGHT="23" CONTENT="(" WIDTH="10" HPOS="421" VPOS="1173" ID="st15-345"/><String HEIGHT="23" CONTENT="1989" WIDTH="40" HPOS="431" VPOS="1173" ID="st15-346"/><String HEIGHT="23" CONTENT=")" WIDTH="10" HPOS="471" VPOS="1173" ID="st15-347"/><String HEIGHT="23" CONTENT=":" WIDTH="10" HPOS="481" VPOS="1173" ID="st15-348"/><SP/><String HEIGHT="22" CONTENT="The" WIDTH="33" HPOS="498" VPOS="1174" ID="st15-349"/><SP/><String HEIGHT="22" CONTENT="European" WIDTH="84" HPOS="539" VPOS="1174" ID="st15-350"/><SP/><String HEIGHT="22" CONTENT="Payments" WIDTH="83" HPOS="630" VPOS="1174" ID="st15-351"/><SP/><String HEIGHT="22" CONTENT="Union" WIDTH="57" HPOS="721" VPOS="1174" ID="st15-352"/><SP/><String HEIGHT="22" CONTENT="–" WIDTH="11" HPOS="785" VPOS="1174" ID="st15-353"/><SP/><String HEIGHT="22" CONTENT="Financial" WIDTH="85" HPOS="804" VPOS="1174" ID="st15-354"/></TextLine><TextLine HPOS="129" VPOS="1201" ID="tl15-42" WIDTH="760" HEIGHT="23"><String HEIGHT="23" CONTENT="Diplomacy" WIDTH="93" HPOS="129" VPOS="1201" ID="st15-355"/><SP/><String HEIGHT="23" CONTENT="in" WIDTH="19" HPOS="229" VPOS="1201" ID="st15-356"/><SP/><String HEIGHT="23" CONTENT="the" WIDTH="26" HPOS="255" VPOS="1201" ID="st15-357"/><SP/><String HEIGHT="23" CONTENT="1950s" WIDTH="37" HPOS="288" VPOS="1201" ID="st15-358"/><String HEIGHT="23" CONTENT="." WIDTH="8" HPOS="325" VPOS="1201" ID="st15-359"/><SP/><String HEIGHT="24" CONTENT="Oxford" WIDTH="64" HPOS="340" VPOS="1200" ID="st15-360"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="404" VPOS="1200" ID="st15-361"/><SP/><String HEIGHT="24" CONTENT="Clarendon" WIDTH="99" HPOS="422" VPOS="1200" ID="st15-362"/><SP/><String HEIGHT="24" CONTENT="Press" WIDTH="45" HPOS="528" VPOS="1200" ID="st15-363"/><String HEIGHT="24" CONTENT=";" WIDTH="10" HPOS="573" VPOS="1200" ID="st15-364"/><SP/><String HEIGHT="24" CONTENT="Triffin" WIDTH="56" HPOS="590" VPOS="1200" ID="st15-365"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="646" VPOS="1200" ID="st15-366"/><SP/><String HEIGHT="24" CONTENT="R" WIDTH="9" HPOS="662" VPOS="1200" ID="st15-367"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="671" VPOS="1200" ID="st15-368"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="680" VPOS="1200" ID="st15-369"/><String HEIGHT="24" CONTENT="1957" WIDTH="38" HPOS="690" VPOS="1200" ID="st15-370"/><String HEIGHT="24" CONTENT=")" WIDTH="9" HPOS="728" VPOS="1200" ID="st15-371"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="737" VPOS="1200" ID="st15-372"/><SP/><String HEIGHT="23" CONTENT="Europe" WIDTH="61" HPOS="754" VPOS="1201" ID="st15-373"/><SP/><String HEIGHT="23" CONTENT="and" WIDTH="34" HPOS="822" VPOS="1201" ID="st15-374"/><SP/><String HEIGHT="23" CONTENT="the" WIDTH="26" HPOS="863" VPOS="1201" ID="st15-375"/></TextLine><TextLine HPOS="129" VPOS="1229" ID="tl15-43" WIDTH="760" HEIGHT="23"><String HEIGHT="23" CONTENT="Money" WIDTH="60" HPOS="129" VPOS="1229" ID="st15-376"/><SP/><String HEIGHT="23" CONTENT="Muddle" WIDTH="70" HPOS="197" VPOS="1229" ID="st15-377"/><SP/><String HEIGHT="23" CONTENT="–" WIDTH="11" HPOS="275" VPOS="1229" ID="st15-378"/><SP/><String HEIGHT="23" CONTENT="From" WIDTH="48" HPOS="294" VPOS="1229" ID="st15-379"/><SP/><String HEIGHT="23" CONTENT="Bilateralism" WIDTH="109" HPOS="350" VPOS="1229" ID="st15-380"/><SP/><String HEIGHT="23" CONTENT="to" WIDTH="16" HPOS="467" VPOS="1229" ID="st15-381"/><SP/><String HEIGHT="23" CONTENT="Near" WIDTH="33" HPOS="491" VPOS="1229" ID="st15-382"/><String HEIGHT="23" CONTENT="-" WIDTH="9" HPOS="524" VPOS="1229" ID="st15-383"/><String HEIGHT="23" CONTENT="convertibility" WIDTH="118" HPOS="533" VPOS="1229" ID="st15-384"/><String HEIGHT="23" CONTENT="," WIDTH="9" HPOS="651" VPOS="1229" ID="st15-385"/><SP/><String HEIGHT="23" CONTENT="1947–1956" WIDTH="78" HPOS="668" VPOS="1229" ID="st15-386"/><String HEIGHT="23" CONTENT="." WIDTH="9" HPOS="746" VPOS="1229" ID="st15-387"/><SP/><String HEIGHT="24" CONTENT="New" WIDTH="46" HPOS="763" VPOS="1228" ID="st15-388"/><SP/><String HEIGHT="24" CONTENT="Haven" WIDTH="63" HPOS="817" VPOS="1228" ID="st15-389"/><String HEIGHT="24" CONTENT="/" WIDTH="7" HPOS="882" VPOS="1228" ID="st15-390"/></TextLine><TextLine HPOS="129" VPOS="1256" ID="tl15-44" WIDTH="288" HEIGHT="24"><String HEIGHT="24" CONTENT="London" WIDTH="72" HPOS="129" VPOS="1256" ID="st15-391"/><String HEIGHT="24" CONTENT=":" WIDTH="12" HPOS="201" VPOS="1256" ID="st15-392"/><SP/><String HEIGHT="24" CONTENT="Yale" WIDTH="38" HPOS="218" VPOS="1256" ID="st15-393"/><SP/><String HEIGHT="24" CONTENT="University" WIDTH="97" HPOS="261" VPOS="1256" ID="st15-394"/><SP/><String HEIGHT="24" CONTENT="Press" WIDTH="44" HPOS="364" VPOS="1256" ID="st15-395"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="408" VPOS="1256" ID="st15-396"/></TextLine><TextLine HPOS="94" VPOS="1284" ID="tl15-45" WIDTH="795" HEIGHT="23"><String HEIGHT="23" CONTENT="42" WIDTH="19" HPOS="94" VPOS="1284" ID="st15-397"/><String HEIGHT="23" CONTENT="." WIDTH="10" HPOS="113" VPOS="1284" ID="st15-398"/><SP/><String HEIGHT="23" CONTENT="Sapir" WIDTH="45" HPOS="129" VPOS="1284" ID="st15-399"/><String HEIGHT="23" CONTENT="," WIDTH="9" HPOS="174" VPOS="1284" ID="st15-400"/><SP/><String HEIGHT="23" CONTENT="J" WIDTH="7" HPOS="188" VPOS="1284" ID="st15-401"/><String HEIGHT="23" CONTENT="." WIDTH="7" HPOS="195" VPOS="1284" ID="st15-402"/><String HEIGHT="23" CONTENT="(" WIDTH="10" HPOS="207" VPOS="1284" ID="st15-403"/><String HEIGHT="23" CONTENT="2006" WIDTH="42" HPOS="217" VPOS="1284" ID="st15-404"/><String HEIGHT="23" CONTENT=")" WIDTH="10" HPOS="259" VPOS="1284" ID="st15-405"/><String HEIGHT="23" CONTENT=":" WIDTH="11" HPOS="269" VPOS="1284" ID="st15-406"/><String HEIGHT="23" CONTENT="»" WIDTH="11" HPOS="285" VPOS="1284" ID="st15-407"/><String HEIGHT="23" CONTENT="Retour" WIDTH="66" HPOS="296" VPOS="1284" ID="st15-408"/><SP/><String HEIGHT="23" CONTENT="vers" WIDTH="37" HPOS="368" VPOS="1284" ID="st15-409"/><SP/><String HEIGHT="23" CONTENT="le" WIDTH="15" HPOS="411" VPOS="1284" ID="st15-410"/><SP/><String HEIGHT="23" CONTENT="futur" WIDTH="45" HPOS="432" VPOS="1284" ID="st15-411"/><String HEIGHT="23" CONTENT=":" WIDTH="9" HPOS="477" VPOS="1284" ID="st15-412"/><SP/><String HEIGHT="23" CONTENT="le" WIDTH="16" HPOS="492" VPOS="1284" ID="st15-413"/><SP/><String HEIGHT="23" CONTENT="protectionnisme" WIDTH="153" HPOS="513" VPOS="1284" ID="st15-414"/><SP/><String HEIGHT="23" CONTENT="est" WIDTH="21" HPOS="672" VPOS="1284" ID="st15-415"/><String HEIGHT="23" CONTENT="-" WIDTH="7" HPOS="693" VPOS="1284" ID="st15-416"/><String HEIGHT="23" CONTENT="il" WIDTH="15" HPOS="700" VPOS="1284" ID="st15-417"/><SP/><String HEIGHT="23" CONTENT="notre" WIDTH="50" HPOS="721" VPOS="1284" ID="st15-418"/><SP/><String HEIGHT="23" CONTENT="avenir" WIDTH="54" HPOS="777" VPOS="1284" ID="st15-419"/><String HEIGHT="23" CONTENT="?" WIDTH="9" HPOS="831" VPOS="1284" ID="st15-420"/><String HEIGHT="23" CONTENT="," WIDTH="9" HPOS="840" VPOS="1284" ID="st15-421"/><String HEIGHT="23" CONTENT="«" WIDTH="9" HPOS="849" VPOS="1284" ID="st15-422"/><SP/><String HEIGHT="23" CONTENT="in" WIDTH="17" HPOS="863" VPOS="1284" ID="st15-423"/><String HEIGHT="23" CONTENT=":" WIDTH="9" HPOS="880" VPOS="1284" ID="st15-424"/></TextLine><TextLine HPOS="129" VPOS="1313" ID="tl15-46" WIDTH="248" HEIGHT="22"><String HEIGHT="22" CONTENT="L" WIDTH="10" HPOS="129" VPOS="1313" ID="st15-425"/><String HEIGHT="22" CONTENT="’" WIDTH="10" HPOS="139" VPOS="1313" ID="st15-426"/><String HEIGHT="22" CONTENT="Economie" WIDTH="80" HPOS="149" VPOS="1313" ID="st15-427"/><SP/><String HEIGHT="22" CONTENT="Politique" WIDTH="74" HPOS="234" VPOS="1313" ID="st15-428"/><String HEIGHT="22" CONTENT="," WIDTH="9" HPOS="308" VPOS="1313" ID="st15-429"/><SP/><String HEIGHT="24" CONTENT="31" WIDTH="17" HPOS="323" VPOS="1311" ID="st15-430"/><String HEIGHT="24" CONTENT="(" WIDTH="8" HPOS="345" VPOS="1311" ID="st15-431"/><String HEIGHT="24" CONTENT="3" WIDTH="8" HPOS="353" VPOS="1311" ID="st15-432"/><String HEIGHT="24" CONTENT=")" WIDTH="8" HPOS="361" VPOS="1311" ID="st15-433"/><String HEIGHT="24" CONTENT="." WIDTH="8" HPOS="369" VPOS="1311" ID="st15-434"/></TextLine><TextLine HPOS="94" VPOS="1398" ID="tl15-47" WIDTH="30" HEIGHT="11"><String HEIGHT="11" CONTENT="ipg" WIDTH="30" HPOS="94" VPOS="1398" ID="st15-435"/></TextLine><TextLine HPOS="128" VPOS="1394" ID="tl15-48" WIDTH="56" HEIGHT="21"><String HEIGHT="21" CONTENT="1/2009" WIDTH="56" HPOS="128" VPOS="1394" ID="st15-436"/></TextLine><TextLine HPOS="692" VPOS="1395" ID="tl15-49" WIDTH="153" HEIGHT="18"><String HEIGHT="18" CONTENT="Sapir" WIDTH="33" HPOS="692" VPOS="1395" ID="st15-437"/><String HEIGHT="18" CONTENT="," WIDTH="7" HPOS="725" VPOS="1395" ID="st15-438"/><SP/><String HEIGHT="18" CONTENT="Financial" WIDTH="65" HPOS="736" VPOS="1395" ID="st15-439"/><SP/><String HEIGHT="18" CONTENT="Crisis" WIDTH="39" HPOS="806" VPOS="1395" ID="st15-440"/></TextLine><TextLine HPOS="865" VPOS="1388" ID="tl15-50" WIDTH="24" HEIGHT="29"><String HEIGHT="29" CONTENT="41" WIDTH="24" HPOS="865" VPOS="1388" ID="st15-441"/></TextLine></TextBlock></PrintSpace></Page><Page WIDTH="984" PHYSICAL_IMG_NR="16" ID="p658184" HEIGHT="1472"><PrintSpace WIDTH="984" HPOS="0" VPOS="0" ID="ps658184" HEIGHT="1472"><TextBlock WIDTH="984" HPOS="0" VPOS="0" ID="tb658184" HEIGHT="1472"><TextLine HPOS="94" VPOS="94" ID="tl16-0" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="and" WIDTH="40" HPOS="94" VPOS="94" ID="st16-0"/><SP/><String HEIGHT="28" CONTENT="combining" WIDTH="119" HPOS="139" VPOS="94" ID="st16-1"/><SP/><String HEIGHT="28" CONTENT="restraints" WIDTH="100" HPOS="263" VPOS="94" ID="st16-2"/><SP/><String HEIGHT="28" CONTENT="on" WIDTH="29" HPOS="368" VPOS="94" ID="st16-3"/><SP/><String HEIGHT="28" CONTENT="mercantilist" WIDTH="128" HPOS="402" VPOS="94" ID="st16-4"/><SP/><String HEIGHT="28" CONTENT="policies" WIDTH="79" HPOS="535" VPOS="94" ID="st16-5"/><String HEIGHT="28" CONTENT="," WIDTH="10" HPOS="614" VPOS="94" ID="st16-6"/><SP/><String HEIGHT="28" CONTENT="symmetric" WIDTH="114" HPOS="629" VPOS="94" ID="st16-7"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="748" VPOS="94" ID="st16-8"/><SP/><String HEIGHT="28" CONTENT="balanced" WIDTH="95" HPOS="794" VPOS="94" ID="st16-9"/></TextLine><TextLine HPOS="94" VPOS="126" ID="tl16-1" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="international" WIDTH="143" HPOS="94" VPOS="126" ID="st16-10"/><SP/><String HEIGHT="28" CONTENT="liquidity" WIDTH="90" HPOS="246" VPOS="126" ID="st16-11"/><String HEIGHT="28" CONTENT="," WIDTH="10" HPOS="336" VPOS="126" ID="st16-12"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="355" VPOS="126" ID="st16-13"/><SP/><String HEIGHT="28" CONTENT="wide" WIDTH="54" HPOS="406" VPOS="126" ID="st16-14"/><SP/><String HEIGHT="28" CONTENT="political" WIDTH="89" HPOS="469" VPOS="126" ID="st16-15"/><SP/><String HEIGHT="28" CONTENT="scope" WIDTH="63" HPOS="567" VPOS="126" ID="st16-16"/><SP/><String HEIGHT="28" CONTENT="for" WIDTH="33" HPOS="639" VPOS="126" ID="st16-17"/><SP/><String HEIGHT="28" CONTENT="national" WIDTH="91" HPOS="681" VPOS="126" ID="st16-18"/><SP/><String HEIGHT="28" CONTENT="economic" WIDTH="108" HPOS="781" VPOS="126" ID="st16-19"/></TextLine><TextLine HPOS="94" VPOS="158" ID="tl16-2" WIDTH="402" HEIGHT="28"><String HEIGHT="28" CONTENT="policies" WIDTH="83" HPOS="94" VPOS="158" ID="st16-20"/><SP/><String HEIGHT="28" CONTENT="aiming" WIDTH="77" HPOS="187" VPOS="158" ID="st16-21"/><SP/><String HEIGHT="28" CONTENT="at" WIDTH="20" HPOS="273" VPOS="158" ID="st16-22"/><SP/><String HEIGHT="28" CONTENT="full" WIDTH="36" HPOS="303" VPOS="158" ID="st16-23"/><SP/><String HEIGHT="28" CONTENT="employment" WIDTH="134" HPOS="348" VPOS="158" ID="st16-24"/><String HEIGHT="28" CONTENT="." WIDTH="14" HPOS="482" VPOS="158" ID="st16-25"/></TextLine><TextLine HPOS="496" VPOS="156" ID="tl16-3" WIDTH="19" HEIGHT="20"><String HEIGHT="20" CONTENT="43" WIDTH="19" HPOS="496" VPOS="156" ID="st16-26"/></TextLine><TextLine HPOS="524" VPOS="158" ID="tl16-4" WIDTH="327" HEIGHT="28"><String HEIGHT="28" CONTENT="But" WIDTH="41" HPOS="524" VPOS="158" ID="st16-27"/><SP/><String HEIGHT="28" CONTENT="it" WIDTH="16" HPOS="574" VPOS="158" ID="st16-28"/><SP/><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="599" VPOS="158" ID="st16-29"/><SP/><String HEIGHT="28" CONTENT="improbable" WIDTH="127" HPOS="626" VPOS="158" ID="st16-30"/><SP/><String HEIGHT="28" CONTENT="that" WIDTH="43" HPOS="763" VPOS="158" ID="st16-31"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="816" VPOS="158" ID="st16-32"/></TextLine><TextLine HPOS="860" VPOS="164" ID="tl16-5" WIDTH="29" HEIGHT="14"><String HEIGHT="14" CONTENT="us" WIDTH="29" HPOS="860" VPOS="164" ID="st16-33"/></TextLine><TextLine HPOS="94" VPOS="190" ID="tl16-6" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="government" WIDTH="129" HPOS="94" VPOS="190" ID="st16-34"/><String HEIGHT="28" CONTENT="," WIDTH="13" HPOS="223" VPOS="190" ID="st16-35"/><SP/><String HEIGHT="28" CONTENT="even" WIDTH="50" HPOS="245" VPOS="190" ID="st16-36"/><SP/><String HEIGHT="28" CONTENT="under" WIDTH="65" HPOS="304" VPOS="190" ID="st16-37"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="378" VPOS="190" ID="st16-38"/><SP/><String HEIGHT="28" CONTENT="new" WIDTH="47" HPOS="421" VPOS="190" ID="st16-39"/><SP/><String HEIGHT="28" CONTENT="administration" WIDTH="158" HPOS="476" VPOS="190" ID="st16-40"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="634" VPOS="190" ID="st16-41"/><SP/><String HEIGHT="28" CONTENT="will" WIDTH="41" HPOS="655" VPOS="190" ID="st16-42"/><SP/><String HEIGHT="28" CONTENT="accept" WIDTH="69" HPOS="704" VPOS="190" ID="st16-43"/><SP/><String HEIGHT="28" CONTENT="principles" WIDTH="107" HPOS="782" VPOS="190" ID="st16-44"/></TextLine><TextLine HPOS="94" VPOS="222" ID="tl16-7" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="likely" WIDTH="58" HPOS="94" VPOS="222" ID="st16-45"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="161" VPOS="222" ID="st16-46"/><SP/><String HEIGHT="28" CONTENT="restrict" WIDTH="76" HPOS="193" VPOS="222" ID="st16-47"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="278" VPOS="222" ID="st16-48"/><SP/><String HEIGHT="28" CONTENT="power" WIDTH="71" HPOS="321" VPOS="222" ID="st16-49"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="400" VPOS="222" ID="st16-50"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="431" VPOS="222" ID="st16-51"/><SP/><String HEIGHT="28" CONTENT="dollar" WIDTH="60" HPOS="475" VPOS="222" ID="st16-52"/><String HEIGHT="28" CONTENT="," WIDTH="10" HPOS="535" VPOS="222" ID="st16-53"/><SP/><String HEIGHT="28" CONTENT="at" WIDTH="20" HPOS="553" VPOS="222" ID="st16-54"/><SP/><String HEIGHT="28" CONTENT="least" WIDTH="49" HPOS="582" VPOS="222" ID="st16-55"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="639" VPOS="222" ID="st16-56"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="669" VPOS="222" ID="st16-57"/><SP/><String HEIGHT="28" CONTENT="short" WIDTH="57" HPOS="713" VPOS="222" ID="st16-58"/><SP/><String HEIGHT="28" CONTENT="run" WIDTH="35" HPOS="778" VPOS="222" ID="st16-59"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="813" VPOS="222" ID="st16-60"/><SP/><String HEIGHT="28" CONTENT="Even" WIDTH="56" HPOS="833" VPOS="222" ID="st16-61"/></TextLine><TextLine HPOS="94" VPOS="254" ID="tl16-8" WIDTH="77" HEIGHT="28"><String HEIGHT="28" CONTENT="among" WIDTH="77" HPOS="94" VPOS="254" ID="st16-62"/></TextLine><TextLine HPOS="178" VPOS="260" ID="tl16-9" WIDTH="31" HEIGHT="14"><String HEIGHT="14" CONTENT="eu" WIDTH="31" HPOS="178" VPOS="260" ID="st16-63"/></TextLine><TextLine HPOS="216" VPOS="254" ID="tl16-10" WIDTH="673" HEIGHT="28"><String HEIGHT="28" CONTENT="members" WIDTH="102" HPOS="216" VPOS="254" ID="st16-64"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="324" VPOS="254" ID="st16-65"/><SP/><String HEIGHT="28" CONTENT="idea" WIDTH="45" HPOS="366" VPOS="254" ID="st16-66"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="22" HPOS="418" VPOS="254" ID="st16-67"/><SP/><String HEIGHT="28" CONTENT="introducing" WIDTH="131" HPOS="447" VPOS="254" ID="st16-68"/><SP/><String HEIGHT="28" CONTENT="capital" WIDTH="71" HPOS="585" VPOS="254" ID="st16-69"/><SP/><String HEIGHT="28" CONTENT="flow" WIDTH="50" HPOS="663" VPOS="254" ID="st16-70"/><SP/><String HEIGHT="28" CONTENT="restrictions" WIDTH="123" HPOS="719" VPOS="254" ID="st16-71"/><SP/><String HEIGHT="28" CONTENT="will" WIDTH="41" HPOS="848" VPOS="254" ID="st16-72"/></TextLine><TextLine HPOS="94" VPOS="286" ID="tl16-11" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="meet" WIDTH="54" HPOS="94" VPOS="286" ID="st16-73"/><SP/><String HEIGHT="28" CONTENT="with" WIDTH="50" HPOS="155" VPOS="286" ID="st16-74"/><SP/><String HEIGHT="28" CONTENT="resistance" WIDTH="103" HPOS="211" VPOS="286" ID="st16-75"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="314" VPOS="286" ID="st16-76"/><SP/><String HEIGHT="28" CONTENT="In" WIDTH="25" HPOS="331" VPOS="286" ID="st16-77"/><SP/><String HEIGHT="28" CONTENT="this" WIDTH="40" HPOS="362" VPOS="286" ID="st16-78"/><SP/><String HEIGHT="28" CONTENT="context" WIDTH="82" HPOS="408" VPOS="286" ID="st16-79"/><SP/><String HEIGHT="28" CONTENT="it" WIDTH="16" HPOS="496" VPOS="286" ID="st16-80"/><SP/><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="518" VPOS="286" ID="st16-81"/><SP/><String HEIGHT="28" CONTENT="reasonable" WIDTH="116" HPOS="542" VPOS="286" ID="st16-82"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="665" VPOS="286" ID="st16-83"/><SP/><String HEIGHT="28" CONTENT="expect" WIDTH="70" HPOS="694" VPOS="286" ID="st16-84"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="770" VPOS="286" ID="st16-85"/><SP/><String HEIGHT="28" CONTENT="period" WIDTH="72" HPOS="788" VPOS="286" ID="st16-86"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="866" VPOS="286" ID="st16-87"/></TextLine><TextLine HPOS="94" VPOS="318" ID="tl16-12" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="turmoil" WIDTH="84" HPOS="94" VPOS="318" ID="st16-88"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="185" VPOS="318" ID="st16-89"/><SP/><String HEIGHT="28" CONTENT="unstable" WIDTH="92" HPOS="232" VPOS="318" ID="st16-90"/><SP/><String HEIGHT="28" CONTENT="regional" WIDTH="90" HPOS="331" VPOS="318" ID="st16-91"/><SP/><String HEIGHT="28" CONTENT="alliances" WIDTH="91" HPOS="428" VPOS="318" ID="st16-92"/><SP/><String HEIGHT="28" CONTENT="before" WIDTH="71" HPOS="525" VPOS="318" ID="st16-93"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="602" VPOS="318" ID="st16-94"/><SP/><String HEIGHT="28" CONTENT="truly" WIDTH="53" HPOS="620" VPOS="318" ID="st16-95"/><SP/><String HEIGHT="28" CONTENT="global" WIDTH="69" HPOS="679" VPOS="318" ID="st16-96"/><SP/><String HEIGHT="28" CONTENT="solution" WIDTH="92" HPOS="754" VPOS="318" ID="st16-97"/><SP/><String HEIGHT="28" CONTENT="can" WIDTH="37" HPOS="852" VPOS="318" ID="st16-98"/></TextLine><TextLine HPOS="94" VPOS="350" ID="tl16-13" WIDTH="187" HEIGHT="28"><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="94" VPOS="350" ID="st16-99"/><SP/><String HEIGHT="28" CONTENT="implemented" WIDTH="141" HPOS="127" VPOS="350" ID="st16-100"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="268" VPOS="350" ID="st16-101"/></TextLine><TextLine HPOS="129" VPOS="381" ID="tl16-14" WIDTH="760" HEIGHT="29"><String HEIGHT="29" CONTENT="This" WIDTH="49" HPOS="129" VPOS="381" ID="st16-102"/><SP/><String HEIGHT="29" CONTENT="raises" WIDTH="59" HPOS="183" VPOS="381" ID="st16-103"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="34" HPOS="247" VPOS="381" ID="st16-104"/><SP/><String HEIGHT="29" CONTENT="issue" WIDTH="53" HPOS="286" VPOS="381" ID="st16-105"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="344" VPOS="381" ID="st16-106"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="372" VPOS="381" ID="st16-107"/><SP/><String HEIGHT="29" CONTENT="euro" WIDTH="43" HPOS="412" VPOS="381" ID="st16-108"/><String HEIGHT="29" CONTENT="’" WIDTH="11" HPOS="455" VPOS="381" ID="st16-109"/><String HEIGHT="29" CONTENT="s" WIDTH="11" HPOS="466" VPOS="381" ID="st16-110"/><SP/><String HEIGHT="29" CONTENT="ability" WIDTH="67" HPOS="482" VPOS="381" ID="st16-111"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="23" HPOS="554" VPOS="381" ID="st16-112"/><SP/><String HEIGHT="29" CONTENT="survive" WIDTH="74" HPOS="582" VPOS="381" ID="st16-113"/><String HEIGHT="29" CONTENT="." WIDTH="11" HPOS="656" VPOS="381" ID="st16-114"/><SP/><String HEIGHT="29" CONTENT="As" WIDTH="28" HPOS="671" VPOS="381" ID="st16-115"/><SP/><String HEIGHT="29" CONTENT="inflationary" WIDTH="126" HPOS="704" VPOS="381" ID="st16-116"/><SP/><String HEIGHT="29" CONTENT="pres" WIDTH="44" HPOS="835" VPOS="381" ID="st16-117" SUBS_TYPE="HypPart1" SUBS_CONTENT="pressures"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="381" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="413" ID="tl16-15" WIDTH="745" HEIGHT="29"><String HEIGHT="29" CONTENT="sures" WIDTH="56" HPOS="94" VPOS="413" ID="st16-118" SUBS_TYPE="HypPart2" SUBS_CONTENT="pressures"/><SP/><String HEIGHT="29" CONTENT="grow" WIDTH="58" HPOS="156" VPOS="413" ID="st16-119"/><SP/><String HEIGHT="29" CONTENT="as" WIDTH="21" HPOS="220" VPOS="413" ID="st16-120"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="12" HPOS="247" VPOS="413" ID="st16-121"/><SP/><String HEIGHT="29" CONTENT="consequence" WIDTH="140" HPOS="265" VPOS="413" ID="st16-122"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="411" VPOS="413" ID="st16-123"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="440" VPOS="413" ID="st16-124"/><SP/><String HEIGHT="29" CONTENT="crisis" WIDTH="53" HPOS="481" VPOS="413" ID="st16-125"/><String HEIGHT="29" CONTENT="," WIDTH="9" HPOS="534" VPOS="413" ID="st16-126"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="549" VPOS="413" ID="st16-127"/><SP/><String HEIGHT="29" CONTENT="asymmetrical" WIDTH="145" HPOS="590" VPOS="413" ID="st16-128"/><SP/><String HEIGHT="29" CONTENT="effects" WIDTH="70" HPOS="741" VPOS="413" ID="st16-129"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="816" VPOS="413" ID="st16-130"/></TextLine><TextLine HPOS="845" VPOS="420" ID="tl16-16" WIDTH="44" HEIGHT="14"><String HEIGHT="14" CONTENT="ecb" WIDTH="44" HPOS="845" VPOS="420" ID="st16-131"/></TextLine><TextLine HPOS="94" VPOS="445" ID="tl16-17" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="policy" WIDTH="67" HPOS="94" VPOS="445" ID="st16-132"/><SP/><String HEIGHT="29" CONTENT="on" WIDTH="30" HPOS="169" VPOS="445" ID="st16-133"/><SP/><String HEIGHT="29" CONTENT="Eurozone" WIDTH="109" HPOS="207" VPOS="445" ID="st16-134"/><SP/><String HEIGHT="29" CONTENT="members" WIDTH="102" HPOS="324" VPOS="445" ID="st16-135"/><SP/><String HEIGHT="29" CONTENT="will" WIDTH="41" HPOS="435" VPOS="445" ID="st16-136"/><SP/><String HEIGHT="29" CONTENT="become" WIDTH="86" HPOS="484" VPOS="445" ID="st16-137"/><SP/><String HEIGHT="29" CONTENT="more" WIDTH="59" HPOS="578" VPOS="445" ID="st16-138"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="645" VPOS="445" ID="st16-139"/><SP/><String HEIGHT="29" CONTENT="more" WIDTH="58" HPOS="694" VPOS="445" ID="st16-140"/><SP/><String HEIGHT="29" CONTENT="unbearable" WIDTH="116" HPOS="761" VPOS="445" ID="st16-141"/><String HEIGHT="29" CONTENT="." WIDTH="12" HPOS="877" VPOS="445" ID="st16-142"/></TextLine><TextLine HPOS="94" VPOS="477" ID="tl16-18" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="Note" WIDTH="57" HPOS="94" VPOS="477" ID="st16-143"/><SP/><String HEIGHT="29" CONTENT="that" WIDTH="44" HPOS="158" VPOS="477" ID="st16-144"/><SP/><String HEIGHT="29" CONTENT="if" WIDTH="15" HPOS="209" VPOS="477" ID="st16-145"/><SP/><String HEIGHT="29" CONTENT="restrictions" WIDTH="123" HPOS="231" VPOS="477" ID="st16-146"/><SP/><String HEIGHT="29" CONTENT="on" WIDTH="30" HPOS="361" VPOS="477" ID="st16-147"/><SP/><String HEIGHT="29" CONTENT="short" WIDTH="59" HPOS="397" VPOS="477" ID="st16-148"/><String HEIGHT="29" CONTENT="-" WIDTH="11" HPOS="456" VPOS="477" ID="st16-149"/><String HEIGHT="29" CONTENT="term" WIDTH="48" HPOS="467" VPOS="477" ID="st16-150"/><SP/><String HEIGHT="29" CONTENT="capital" WIDTH="71" HPOS="522" VPOS="477" ID="st16-151"/><SP/><String HEIGHT="29" CONTENT="flows" WIDTH="60" HPOS="600" VPOS="477" ID="st16-152"/><SP/><String HEIGHT="29" CONTENT="return" WIDTH="69" HPOS="667" VPOS="477" ID="st16-153"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="23" HPOS="743" VPOS="477" ID="st16-154"/><SP/><String HEIGHT="29" CONTENT="fashion" WIDTH="77" HPOS="773" VPOS="477" ID="st16-155"/><String HEIGHT="29" CONTENT="," WIDTH="11" HPOS="850" VPOS="477" ID="st16-156"/><SP/><String HEIGHT="29" CONTENT="as" WIDTH="21" HPOS="868" VPOS="477" ID="st16-157"/></TextLine><TextLine HPOS="94" VPOS="509" ID="tl16-19" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="one" WIDTH="41" HPOS="94" VPOS="509" ID="st16-158"/><SP/><String HEIGHT="29" CONTENT="might" WIDTH="67" HPOS="141" VPOS="509" ID="st16-159"/><SP/><String HEIGHT="29" CONTENT="expect" WIDTH="66" HPOS="214" VPOS="509" ID="st16-160"/><String HEIGHT="29" CONTENT="," WIDTH="12" HPOS="280" VPOS="509" ID="st16-161"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="298" VPOS="509" ID="st16-162"/><SP/><String HEIGHT="29" CONTENT="relevance" WIDTH="101" HPOS="339" VPOS="509" ID="st16-163"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="22" HPOS="447" VPOS="509" ID="st16-164"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="476" VPOS="509" ID="st16-165"/><SP/><String HEIGHT="29" CONTENT="Eurozone" WIDTH="109" HPOS="517" VPOS="509" ID="st16-166"/><SP/><String HEIGHT="29" CONTENT="for" WIDTH="33" HPOS="632" VPOS="509" ID="st16-167"/><SP/><String HEIGHT="29" CONTENT="interest" WIDTH="83" HPOS="671" VPOS="509" ID="st16-168"/><SP/><String HEIGHT="29" CONTENT="rate" WIDTH="41" HPOS="760" VPOS="509" ID="st16-169"/><SP/><String HEIGHT="29" CONTENT="harmo" WIDTH="69" HPOS="807" VPOS="509" ID="st16-170" SUBS_TYPE="HypPart1" SUBS_CONTENT="harmonization"/><HYP CONTENT="-" WIDTH="13" HPOS="876" VPOS="509" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="541" ID="tl16-20" WIDTH="382" HEIGHT="28"><String HEIGHT="28" CONTENT="nization" WIDTH="91" HPOS="94" VPOS="541" ID="st16-171" SUBS_TYPE="HypPart2" SUBS_CONTENT="harmonization"/><SP/><String HEIGHT="28" CONTENT="will" WIDTH="41" HPOS="191" VPOS="541" ID="st16-172"/><SP/><String HEIGHT="28" CONTENT="decrease" WIDTH="92" HPOS="239" VPOS="541" ID="st16-173"/><SP/><String HEIGHT="28" CONTENT="significantly" WIDTH="129" HPOS="337" VPOS="541" ID="st16-174"/><String HEIGHT="28" CONTENT="." WIDTH="10" HPOS="466" VPOS="541" ID="st16-175"/></TextLine><TextLine HPOS="129" VPOS="573" ID="tl16-21" WIDTH="760" HEIGHT="28"><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="129" VPOS="573" ID="st16-176"/><SP/><String HEIGHT="28" CONTENT="euro" WIDTH="51" HPOS="181" VPOS="573" ID="st16-177"/><SP/><String HEIGHT="28" CONTENT="would" WIDTH="71" HPOS="240" VPOS="573" ID="st16-178"/><SP/><String HEIGHT="28" CONTENT="not" WIDTH="38" HPOS="319" VPOS="573" ID="st16-179"/><SP/><String HEIGHT="28" CONTENT="necessarily" WIDTH="117" HPOS="365" VPOS="573" ID="st16-180"/><SP/><String HEIGHT="28" CONTENT="become" WIDTH="86" HPOS="490" VPOS="573" ID="st16-181"/><SP/><String HEIGHT="28" CONTENT="obsolete" WIDTH="88" HPOS="584" VPOS="573" ID="st16-182"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="672" VPOS="573" ID="st16-183"/><SP/><String HEIGHT="28" CONTENT="however" WIDTH="87" HPOS="692" VPOS="573" ID="st16-184"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="779" VPOS="573" ID="st16-185"/><SP/><String HEIGHT="28" CONTENT="It" WIDTH="19" HPOS="800" VPOS="573" ID="st16-186"/><SP/><String HEIGHT="28" CONTENT="could" WIDTH="62" HPOS="827" VPOS="573" ID="st16-187"/></TextLine><TextLine HPOS="94" VPOS="605" ID="tl16-22" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="survive" WIDTH="78" HPOS="94" VPOS="605" ID="st16-188"/><SP/><String HEIGHT="28" CONTENT="very" WIDTH="47" HPOS="179" VPOS="605" ID="st16-189"/><SP/><String HEIGHT="28" CONTENT="effectively" WIDTH="110" HPOS="233" VPOS="605" ID="st16-190"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="27" HPOS="351" VPOS="605" ID="st16-191"/><SP/><String HEIGHT="28" CONTENT="evolving" WIDTH="95" HPOS="385" VPOS="605" ID="st16-192"/><SP/><String HEIGHT="28" CONTENT="from" WIDTH="55" HPOS="487" VPOS="605" ID="st16-193"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="549" VPOS="605" ID="st16-194"/><SP/><String HEIGHT="27" CONTENT="single" WIDTH="59" HPOS="591" VPOS="606" ID="st16-195"/><SP/><String HEIGHT="27" CONTENT="currency" WIDTH="86" HPOS="657" VPOS="606" ID="st16-196"/><SP/><String HEIGHT="28" CONTENT="we" WIDTH="32" HPOS="750" VPOS="605" ID="st16-197"/><SP/><String HEIGHT="28" CONTENT="currently" WIDTH="100" HPOS="789" VPOS="605" ID="st16-198"/></TextLine><TextLine HPOS="94" VPOS="637" ID="tl16-23" WIDTH="613" HEIGHT="28"><String HEIGHT="28" CONTENT="have" WIDTH="46" HPOS="94" VPOS="637" ID="st16-199"/><String HEIGHT="28" CONTENT="," WIDTH="12" HPOS="140" VPOS="637" ID="st16-200"/><SP/><String HEIGHT="28" CONTENT="which" WIDTH="67" HPOS="158" VPOS="637" ID="st16-201"/><SP/><String HEIGHT="28" CONTENT="probably" WIDTH="100" HPOS="231" VPOS="637" ID="st16-202"/><SP/><String HEIGHT="28" CONTENT="may" WIDTH="46" HPOS="337" VPOS="637" ID="st16-203"/><SP/><String HEIGHT="28" CONTENT="not" WIDTH="38" HPOS="389" VPOS="637" ID="st16-204"/><SP/><String HEIGHT="28" CONTENT="survive" WIDTH="78" HPOS="433" VPOS="637" ID="st16-205"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="517" VPOS="637" ID="st16-206"/><SP/><String HEIGHT="28" CONTENT="current" WIDTH="81" HPOS="558" VPOS="637" ID="st16-207"/><SP/><String HEIGHT="28" CONTENT="crisis" WIDTH="53" HPOS="645" VPOS="637" ID="st16-208"/><String HEIGHT="28" CONTENT="," WIDTH="9" HPOS="698" VPOS="637" ID="st16-209"/></TextLine><TextLine HPOS="707" VPOS="635" ID="tl16-24" WIDTH="22" HEIGHT="20"><String HEIGHT="20" CONTENT="44" WIDTH="22" HPOS="707" VPOS="635" ID="st16-210"/></TextLine><TextLine HPOS="735" VPOS="637" ID="tl16-25" WIDTH="154" HEIGHT="28"><String HEIGHT="28" CONTENT="into" WIDTH="45" HPOS="735" VPOS="637" ID="st16-211"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="786" VPOS="637" ID="st16-212"/><SP/><String HEIGHT="27" CONTENT="common" WIDTH="85" HPOS="804" VPOS="638" ID="st16-213"/></TextLine><TextLine HPOS="94" VPOS="670" ID="tl16-26" WIDTH="373" HEIGHT="27"><String HEIGHT="27" CONTENT="currency" WIDTH="86" HPOS="94" VPOS="670" ID="st16-214"/><SP/><String HEIGHT="28" CONTENT="on" WIDTH="30" HPOS="185" VPOS="669" ID="st16-215"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="220" VPOS="669" ID="st16-216"/><SP/><String HEIGHT="28" CONTENT="pattern" WIDTH="80" HPOS="260" VPOS="669" ID="st16-217"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="345" VPOS="669" ID="st16-218"/><SP/><String HEIGHT="28" CONTENT="Keynes" WIDTH="70" HPOS="373" VPOS="669" ID="st16-219"/><String HEIGHT="28" CONTENT="’" WIDTH="12" HPOS="443" VPOS="669" ID="st16-220"/><String HEIGHT="28" CONTENT="s" WIDTH="12" HPOS="455" VPOS="669" ID="st16-221"/></TextLine><TextLine HPOS="472" VPOS="675" ID="tl16-27" WIDTH="94" HEIGHT="15"><String HEIGHT="15" CONTENT="bancor" WIDTH="94" HPOS="472" VPOS="675" ID="st16-222"/></TextLine><TextLine HPOS="566" VPOS="669" ID="tl16-28" WIDTH="323" HEIGHT="28"><String HEIGHT="28" CONTENT="," WIDTH="7" HPOS="566" VPOS="669" ID="st16-223"/><SP/><String HEIGHT="28" CONTENT="into" WIDTH="46" HPOS="578" VPOS="669" ID="st16-224"/><SP/><String HEIGHT="28" CONTENT="which" WIDTH="67" HPOS="629" VPOS="669" ID="st16-225"/><SP/><String HEIGHT="28" CONTENT="all" WIDTH="26" HPOS="701" VPOS="669" ID="st16-226"/><SP/><String HEIGHT="28" CONTENT="European" WIDTH="109" HPOS="732" VPOS="669" ID="st16-227"/><SP/><String HEIGHT="28" CONTENT="cur" WIDTH="33" HPOS="846" VPOS="669" ID="st16-228" SUBS_TYPE="HypPart1" SUBS_CONTENT="currencies"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="669" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="701" ID="tl16-29" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="rencies" WIDTH="76" HPOS="94" VPOS="701" ID="st16-229" SUBS_TYPE="HypPart2" SUBS_CONTENT="currencies"/><SP/><String HEIGHT="28" CONTENT="would" WIDTH="71" HPOS="179" VPOS="701" ID="st16-230"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="27" HPOS="258" VPOS="701" ID="st16-231"/><SP/><String HEIGHT="28" CONTENT="convertible" WIDTH="120" HPOS="293" VPOS="701" ID="st16-232"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="413" VPOS="701" ID="st16-233"/><SP/><String HEIGHT="28" CONTENT="Regulated" WIDTH="113" HPOS="433" VPOS="701" ID="st16-234"/><SP/><String HEIGHT="28" CONTENT="exchange" WIDTH="101" HPOS="555" VPOS="701" ID="st16-235"/><SP/><String HEIGHT="28" CONTENT="rates" WIDTH="51" HPOS="665" VPOS="701" ID="st16-236"/><SP/><String HEIGHT="28" CONTENT="would" WIDTH="71" HPOS="725" VPOS="701" ID="st16-237"/><SP/><String HEIGHT="28" CONTENT="then" WIDTH="49" HPOS="805" VPOS="701" ID="st16-238"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="863" VPOS="701" ID="st16-239"/></TextLine><TextLine HPOS="94" VPOS="733" ID="tl16-30" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="adjusted" WIDTH="93" HPOS="94" VPOS="733" ID="st16-240"/><SP/><String HEIGHT="28" CONTENT="every" WIDTH="58" HPOS="193" VPOS="733" ID="st16-241"/><SP/><String HEIGHT="28" CONTENT="six" WIDTH="29" HPOS="257" VPOS="733" ID="st16-242"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="292" VPOS="733" ID="st16-243"/><SP/><String HEIGHT="28" CONTENT="12" WIDTH="22" HPOS="321" VPOS="733" ID="st16-244"/><SP/><String HEIGHT="28" CONTENT="months" WIDTH="85" HPOS="349" VPOS="733" ID="st16-245"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="440" VPOS="733" ID="st16-246"/><SP/><String HEIGHT="28" CONTENT="prevent" WIDTH="84" HPOS="469" VPOS="733" ID="st16-247"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="559" VPOS="733" ID="st16-248"/><SP/><String HEIGHT="28" CONTENT="accumulation" WIDTH="149" HPOS="600" VPOS="733" ID="st16-249"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="755" VPOS="733" ID="st16-250"/><SP/><String HEIGHT="28" CONTENT="structural" WIDTH="105" HPOS="784" VPOS="733" ID="st16-251"/></TextLine><TextLine HPOS="94" VPOS="765" ID="tl16-31" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="current" WIDTH="81" HPOS="94" VPOS="765" ID="st16-252"/><String HEIGHT="28" CONTENT="-" WIDTH="11" HPOS="175" VPOS="765" ID="st16-253"/><String HEIGHT="28" CONTENT="account" WIDTH="82" HPOS="186" VPOS="765" ID="st16-254"/><SP/><String HEIGHT="28" CONTENT="surpluses" WIDTH="100" HPOS="273" VPOS="765" ID="st16-255"/><SP/><String HEIGHT="28" CONTENT="or" WIDTH="25" HPOS="378" VPOS="765" ID="st16-256"/><SP/><String HEIGHT="28" CONTENT="deficits" WIDTH="78" HPOS="408" VPOS="765" ID="st16-257"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="491" VPOS="765" ID="st16-258"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="537" VPOS="765" ID="st16-259"/><SP/><String HEIGHT="28" CONTENT="cope" WIDTH="52" HPOS="565" VPOS="765" ID="st16-260"/><SP/><String HEIGHT="28" CONTENT="with" WIDTH="50" HPOS="622" VPOS="765" ID="st16-261"/><SP/><String HEIGHT="28" CONTENT="diverging" WIDTH="105" HPOS="677" VPOS="765" ID="st16-262"/><SP/><String HEIGHT="28" CONTENT="inflation" WIDTH="92" HPOS="787" VPOS="765" ID="st16-263" SUBS_TYPE="HypPart1" SUBS_CONTENT="inflationary"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="765" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="797" ID="tl16-32" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="ary" WIDTH="34" HPOS="94" VPOS="797" ID="st16-264" SUBS_TYPE="HypPart2" SUBS_CONTENT="inflationary"/><SP/><String HEIGHT="28" CONTENT="trends" WIDTH="70" HPOS="137" VPOS="797" ID="st16-265"/><SP/><String HEIGHT="28" CONTENT="induced" WIDTH="90" HPOS="216" VPOS="797" ID="st16-266"/><SP/><String HEIGHT="28" CONTENT="by" WIDTH="27" HPOS="315" VPOS="797" ID="st16-267"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="352" VPOS="797" ID="st16-268"/><SP/><String HEIGHT="28" CONTENT="different" WIDTH="96" HPOS="396" VPOS="797" ID="st16-269"/><SP/><String HEIGHT="28" CONTENT="growth" WIDTH="82" HPOS="501" VPOS="797" ID="st16-270"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="593" VPOS="797" ID="st16-271"/><SP/><String HEIGHT="28" CONTENT="inflation" WIDTH="95" HPOS="625" VPOS="797" ID="st16-272"/><SP/><String HEIGHT="28" CONTENT="sensitivities" WIDTH="128" HPOS="729" VPOS="797" ID="st16-273"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="866" VPOS="797" ID="st16-274"/></TextLine><TextLine HPOS="94" VPOS="829" ID="tl16-33" WIDTH="359" HEIGHT="28"><String HEIGHT="28" CONTENT="individual" WIDTH="112" HPOS="94" VPOS="829" ID="st16-275"/><SP/><String HEIGHT="28" CONTENT="European" WIDTH="109" HPOS="212" VPOS="829" ID="st16-276"/><SP/><String HEIGHT="28" CONTENT="economies" WIDTH="112" HPOS="328" VPOS="829" ID="st16-277"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="440" VPOS="829" ID="st16-278"/></TextLine><TextLine HPOS="129" VPOS="861" ID="tl16-34" WIDTH="44" HEIGHT="28"><String HEIGHT="28" CONTENT="The" WIDTH="44" HPOS="129" VPOS="861" ID="st16-279"/></TextLine><TextLine HPOS="180" VPOS="867" ID="tl16-35" WIDTH="44" HEIGHT="14"><String HEIGHT="14" CONTENT="ecb" WIDTH="44" HPOS="180" VPOS="867" ID="st16-280"/></TextLine><TextLine HPOS="224" VPOS="861" ID="tl16-36" WIDTH="665" HEIGHT="28"><String HEIGHT="28" CONTENT="’" WIDTH="7" HPOS="224" VPOS="861" ID="st16-281"/><String HEIGHT="28" CONTENT="s" WIDTH="8" HPOS="231" VPOS="861" ID="st16-282"/><SP/><String HEIGHT="28" CONTENT="status" WIDTH="63" HPOS="246" VPOS="861" ID="st16-283"/><SP/><String HEIGHT="28" CONTENT="would" WIDTH="71" HPOS="316" VPOS="861" ID="st16-284"/><SP/><String HEIGHT="28" CONTENT="have" WIDTH="51" HPOS="394" VPOS="861" ID="st16-285"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="452" VPOS="861" ID="st16-286"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="482" VPOS="861" ID="st16-287"/><SP/><String HEIGHT="28" CONTENT="completely" WIDTH="122" HPOS="515" VPOS="861" ID="st16-288"/><SP/><String HEIGHT="28" CONTENT="redefined" WIDTH="104" HPOS="644" VPOS="861" ID="st16-289"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="755" VPOS="861" ID="st16-290"/><SP/><String HEIGHT="28" CONTENT="full" WIDTH="37" HPOS="803" VPOS="861" ID="st16-291"/><SP/><String HEIGHT="28" CONTENT="em" WIDTH="28" HPOS="847" VPOS="861" ID="st16-292" SUBS_TYPE="HypPart1" SUBS_CONTENT="employment"/><HYP CONTENT="-" WIDTH="14" HPOS="875" VPOS="861" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="893" ID="tl16-37" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="ployment" WIDTH="106" HPOS="94" VPOS="893" ID="st16-293" SUBS_TYPE="HypPart2" SUBS_CONTENT="employment"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="208" VPOS="893" ID="st16-294"/><SP/><String HEIGHT="28" CONTENT="financial" WIDTH="93" HPOS="257" VPOS="893" ID="st16-295"/><SP/><String HEIGHT="28" CONTENT="stability" WIDTH="86" HPOS="358" VPOS="893" ID="st16-296"/><SP/><String HEIGHT="28" CONTENT="introduced" WIDTH="122" HPOS="452" VPOS="893" ID="st16-297"/><SP/><String HEIGHT="28" CONTENT="as" WIDTH="21" HPOS="582" VPOS="893" ID="st16-298"/><SP/><String HEIGHT="28" CONTENT="key" WIDTH="38" HPOS="611" VPOS="893" ID="st16-299"/><SP/><String HEIGHT="28" CONTENT="targets" WIDTH="74" HPOS="657" VPOS="893" ID="st16-300"/><SP/><String HEIGHT="28" CONTENT="on" WIDTH="30" HPOS="738" VPOS="893" ID="st16-301"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="776" VPOS="893" ID="st16-302"/><SP/><String HEIGHT="28" CONTENT="par" WIDTH="36" HPOS="795" VPOS="893" ID="st16-303"/><SP/><String HEIGHT="28" CONTENT="with" WIDTH="50" HPOS="839" VPOS="893" ID="st16-304"/></TextLine><TextLine HPOS="94" VPOS="925" ID="tl16-38" WIDTH="353" HEIGHT="28"><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="94" VPOS="925" ID="st16-305"/><SP/><String HEIGHT="28" CONTENT="reduction" WIDTH="106" HPOS="134" VPOS="925" ID="st16-306"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="22" HPOS="246" VPOS="925" ID="st16-307"/><SP/><String HEIGHT="28" CONTENT="inflation" WIDTH="90" HPOS="273" VPOS="925" ID="st16-308"/><String HEIGHT="28" CONTENT="." WIDTH="11" HPOS="363" VPOS="925" ID="st16-309"/><SP/><String HEIGHT="28" CONTENT="As" WIDTH="28" HPOS="379" VPOS="925" ID="st16-310"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="412" VPOS="925" ID="st16-311"/></TextLine><TextLine HPOS="452" VPOS="931" ID="tl16-39" WIDTH="43" HEIGHT="14"><String HEIGHT="14" CONTENT="ecb" WIDTH="43" HPOS="452" VPOS="931" ID="st16-312"/></TextLine><TextLine HPOS="500" VPOS="925" ID="tl16-40" WIDTH="389" HEIGHT="28"><String HEIGHT="28" CONTENT="has" WIDTH="36" HPOS="500" VPOS="925" ID="st16-313"/><SP/><String HEIGHT="28" CONTENT="already" WIDTH="79" HPOS="541" VPOS="925" ID="st16-314"/><SP/><String HEIGHT="28" CONTENT="been" WIDTH="52" HPOS="625" VPOS="925" ID="st16-315"/><SP/><String HEIGHT="28" CONTENT="seriously" WIDTH="97" HPOS="682" VPOS="925" ID="st16-316"/><SP/><String HEIGHT="28" CONTENT="burdened" WIDTH="105" HPOS="784" VPOS="925" ID="st16-317"/></TextLine><TextLine HPOS="94" VPOS="956" ID="tl16-41" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="with" WIDTH="51" HPOS="94" VPOS="956" ID="st16-318"/><String HEIGHT="29" CONTENT="»" WIDTH="11" HPOS="151" VPOS="956" ID="st16-319"/><String HEIGHT="29" CONTENT="toxic" WIDTH="56" HPOS="162" VPOS="956" ID="st16-320"/><String HEIGHT="29" CONTENT="«" WIDTH="12" HPOS="218" VPOS="956" ID="st16-321"/><SP/><String HEIGHT="29" CONTENT="assets" WIDTH="62" HPOS="236" VPOS="956" ID="st16-322"/><SP/><String HEIGHT="29" CONTENT="since" WIDTH="55" HPOS="304" VPOS="956" ID="st16-323"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="365" VPOS="956" ID="st16-324"/><SP/><String HEIGHT="29" CONTENT="beginning" WIDTH="113" HPOS="407" VPOS="956" ID="st16-325"/><SP/><String HEIGHT="29" CONTENT="of" WIDTH="23" HPOS="526" VPOS="956" ID="st16-326"/><SP/><String HEIGHT="29" CONTENT="2008" WIDTH="55" HPOS="555" VPOS="956" ID="st16-327"/><SP/><String HEIGHT="29" CONTENT="it" WIDTH="16" HPOS="617" VPOS="956" ID="st16-328"/><SP/><String HEIGHT="29" CONTENT="is" WIDTH="17" HPOS="639" VPOS="956" ID="st16-329"/><SP/><String HEIGHT="29" CONTENT="unavoidable" WIDTH="135" HPOS="663" VPOS="956" ID="st16-330"/><SP/><String HEIGHT="29" CONTENT="that" WIDTH="44" HPOS="804" VPOS="956" ID="st16-331"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="854" VPOS="956" ID="st16-332"/></TextLine><TextLine HPOS="94" VPOS="988" ID="tl16-42" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="Central" WIDTH="82" HPOS="94" VPOS="988" ID="st16-333"/><SP/><String HEIGHT="29" CONTENT="Bank" WIDTH="48" HPOS="182" VPOS="988" ID="st16-334"/><String HEIGHT="29" CONTENT="’" WIDTH="12" HPOS="230" VPOS="988" ID="st16-335"/><String HEIGHT="29" CONTENT="s" WIDTH="12" HPOS="242" VPOS="988" ID="st16-336"/><SP/><String HEIGHT="29" CONTENT="independence" WIDTH="153" HPOS="260" VPOS="988" ID="st16-337"/><SP/><String HEIGHT="29" CONTENT="principle" WIDTH="98" HPOS="419" VPOS="988" ID="st16-338"/><SP/><String HEIGHT="29" CONTENT="will" WIDTH="41" HPOS="523" VPOS="988" ID="st16-339"/><SP/><String HEIGHT="29" CONTENT="be" WIDTH="27" HPOS="570" VPOS="988" ID="st16-340"/><SP/><String HEIGHT="29" CONTENT="called" WIDTH="63" HPOS="603" VPOS="988" ID="st16-341"/><SP/><String HEIGHT="29" CONTENT="into" WIDTH="45" HPOS="672" VPOS="988" ID="st16-342"/><SP/><String HEIGHT="29" CONTENT="question" WIDTH="96" HPOS="724" VPOS="988" ID="st16-343"/><SP/><String HEIGHT="29" CONTENT="in" WIDTH="22" HPOS="826" VPOS="988" ID="st16-344"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="854" VPOS="988" ID="st16-345"/></TextLine><TextLine HPOS="94" VPOS="1020" ID="tl16-43" WIDTH="740" HEIGHT="29"><String HEIGHT="29" CONTENT="near" WIDTH="47" HPOS="94" VPOS="1020" ID="st16-346"/><SP/><String HEIGHT="29" CONTENT="future" WIDTH="67" HPOS="146" VPOS="1020" ID="st16-347"/><SP/><String HEIGHT="29" CONTENT="when" WIDTH="60" HPOS="218" VPOS="1020" ID="st16-348"/><SP/><String HEIGHT="29" CONTENT="Eurozone" WIDTH="108" HPOS="283" VPOS="1020" ID="st16-349"/><SP/><String HEIGHT="29" CONTENT="governments" WIDTH="143" HPOS="396" VPOS="1020" ID="st16-350"/><SP/><String HEIGHT="29" CONTENT="will" WIDTH="40" HPOS="544" VPOS="1020" ID="st16-351"/><SP/><String HEIGHT="29" CONTENT="have" WIDTH="50" HPOS="589" VPOS="1020" ID="st16-352"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="23" HPOS="644" VPOS="1020" ID="st16-353"/><SP/><String HEIGHT="29" CONTENT="recapitalize" WIDTH="122" HPOS="672" VPOS="1020" ID="st16-354"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="799" VPOS="1020" ID="st16-355"/></TextLine><TextLine HPOS="839" VPOS="1027" ID="tl16-44" WIDTH="43" HEIGHT="14"><String HEIGHT="14" CONTENT="ecb" WIDTH="43" HPOS="839" VPOS="1027" ID="st16-356"/></TextLine><TextLine HPOS="882" VPOS="1020" ID="tl16-45" WIDTH="7" HEIGHT="29"><String HEIGHT="29" CONTENT="." WIDTH="7" HPOS="882" VPOS="1020" ID="st16-357"/></TextLine><TextLine HPOS="94" VPOS="1052" ID="tl16-46" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="In" WIDTH="25" HPOS="94" VPOS="1052" ID="st16-358"/><SP/><String HEIGHT="29" CONTENT="fact" WIDTH="37" HPOS="125" VPOS="1052" ID="st16-359"/><String HEIGHT="29" CONTENT="," WIDTH="10" HPOS="162" VPOS="1052" ID="st16-360"/><SP/><String HEIGHT="29" CONTENT="the" WIDTH="35" HPOS="178" VPOS="1052" ID="st16-361"/><SP/><String HEIGHT="29" CONTENT="independence" WIDTH="153" HPOS="219" VPOS="1052" ID="st16-362"/><SP/><String HEIGHT="29" CONTENT="principle" WIDTH="98" HPOS="378" VPOS="1052" ID="st16-363"/><SP/><String HEIGHT="29" CONTENT="does" WIDTH="51" HPOS="482" VPOS="1052" ID="st16-364"/><SP/><String HEIGHT="29" CONTENT="not" WIDTH="38" HPOS="539" VPOS="1052" ID="st16-365"/><SP/><String HEIGHT="29" CONTENT="have" WIDTH="51" HPOS="583" VPOS="1052" ID="st16-366"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="11" HPOS="640" VPOS="1052" ID="st16-367"/><SP/><String HEIGHT="29" CONTENT="sound" WIDTH="69" HPOS="657" VPOS="1052" ID="st16-368"/><SP/><String HEIGHT="29" CONTENT="theoretical" WIDTH="116" HPOS="732" VPOS="1052" ID="st16-369"/><SP/><String HEIGHT="29" CONTENT="ba" WIDTH="24" HPOS="854" VPOS="1052" ID="st16-370" SUBS_TYPE="HypPart1" SUBS_CONTENT="basis"/><HYP CONTENT="-" WIDTH="11" HPOS="878" VPOS="1052" HEIGHT="29"/></TextLine><TextLine HPOS="94" VPOS="1084" ID="tl16-47" WIDTH="34" HEIGHT="29"><String HEIGHT="29" CONTENT="sis" WIDTH="25" HPOS="94" VPOS="1084" ID="st16-371" SUBS_TYPE="HypPart2" SUBS_CONTENT="basis"/><String HEIGHT="29" CONTENT="." WIDTH="9" HPOS="119" VPOS="1084" ID="st16-372"/></TextLine><TextLine HPOS="128" VPOS="1082" ID="tl16-48" WIDTH="18" HEIGHT="20"><String HEIGHT="20" CONTENT="45" WIDTH="18" HPOS="128" VPOS="1082" ID="st16-373"/></TextLine><TextLine HPOS="154" VPOS="1084" ID="tl16-49" WIDTH="735" HEIGHT="29"><String HEIGHT="29" CONTENT="Such" WIDTH="55" HPOS="154" VPOS="1084" ID="st16-374"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="12" HPOS="218" VPOS="1084" ID="st16-375"/><SP/><String HEIGHT="29" CONTENT="development" WIDTH="144" HPOS="239" VPOS="1084" ID="st16-376"/><SP/><String HEIGHT="29" CONTENT="would" WIDTH="71" HPOS="392" VPOS="1084" ID="st16-377"/><SP/><String HEIGHT="29" CONTENT="be" WIDTH="26" HPOS="472" VPOS="1084" ID="st16-378"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="11" HPOS="507" VPOS="1084" ID="st16-379"/><SP/><String HEIGHT="29" CONTENT="considerable" WIDTH="138" HPOS="527" VPOS="1084" ID="st16-380"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="674" VPOS="1084" ID="st16-381"/><SP/><String HEIGHT="29" CONTENT="even" WIDTH="51" HPOS="724" VPOS="1084" ID="st16-382"/><SP/><String HEIGHT="29" CONTENT="traumatic" WIDTH="105" HPOS="784" VPOS="1084" ID="st16-383"/></TextLine><TextLine HPOS="94" VPOS="1145" ID="tl16-50" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="43" WIDTH="18" HPOS="94" VPOS="1145" ID="st16-384"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="112" VPOS="1145" ID="st16-385"/><SP/><String HEIGHT="24" CONTENT="Bibow" WIDTH="56" HPOS="129" VPOS="1145" ID="st16-386"/><String HEIGHT="24" CONTENT="," WIDTH="12" HPOS="185" VPOS="1145" ID="st16-387"/><SP/><String HEIGHT="24" CONTENT="J" WIDTH="7" HPOS="205" VPOS="1145" ID="st16-388"/><String HEIGHT="24" CONTENT="." WIDTH="7" HPOS="212" VPOS="1145" ID="st16-389"/><String HEIGHT="24" CONTENT=":" WIDTH="8" HPOS="219" VPOS="1145" ID="st16-390"/><String HEIGHT="24" CONTENT="»" WIDTH="11" HPOS="235" VPOS="1145" ID="st16-391"/><String HEIGHT="24" CONTENT="The" WIDTH="35" HPOS="246" VPOS="1145" ID="st16-392"/><SP/><String HEIGHT="24" CONTENT="International" WIDTH="124" HPOS="290" VPOS="1145" ID="st16-393"/><SP/><String HEIGHT="24" CONTENT="Monetary" WIDTH="93" HPOS="423" VPOS="1145" ID="st16-394"/><String HEIGHT="24" CONTENT="(" WIDTH="11" HPOS="524" VPOS="1145" ID="st16-395"/><String HEIGHT="24" CONTENT="Non" WIDTH="35" HPOS="535" VPOS="1145" ID="st16-396"/><String HEIGHT="24" CONTENT=")" WIDTH="11" HPOS="570" VPOS="1145" ID="st16-397"/><String HEIGHT="24" CONTENT="-" WIDTH="12" HPOS="581" VPOS="1145" ID="st16-398"/><String HEIGHT="24" CONTENT="Order" WIDTH="58" HPOS="593" VPOS="1145" ID="st16-399"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="35" HPOS="660" VPOS="1145" ID="st16-400"/><SP/><String HEIGHT="24" CONTENT="the" WIDTH="30" HPOS="703" VPOS="1145" ID="st16-401"/><SP/><String HEIGHT="24" CONTENT="›Global" WIDTH="72" HPOS="741" VPOS="1145" ID="st16-402"/><SP/><String HEIGHT="24" CONTENT="Capital" WIDTH="68" HPOS="821" VPOS="1145" ID="st16-403"/></TextLine><TextLine HPOS="129" VPOS="1173" ID="tl16-51" WIDTH="230" HEIGHT="23"><String HEIGHT="23" CONTENT="Flows" WIDTH="57" HPOS="129" VPOS="1173" ID="st16-404"/><SP/><String HEIGHT="23" CONTENT="Paradox‹," WIDTH="87" HPOS="192" VPOS="1173" ID="st16-405"/><String HEIGHT="23" CONTENT="«" WIDTH="10" HPOS="279" VPOS="1173" ID="st16-406"/><SP/><String HEIGHT="23" CONTENT="op" WIDTH="20" HPOS="294" VPOS="1173" ID="st16-407"/><String HEIGHT="23" CONTENT="." WIDTH="10" HPOS="314" VPOS="1173" ID="st16-408"/><SP/><String HEIGHT="23" CONTENT="cit" WIDTH="21" HPOS="330" VPOS="1173" ID="st16-409"/><String HEIGHT="23" CONTENT="." WIDTH="8" HPOS="351" VPOS="1173" ID="st16-410"/></TextLine><TextLine HPOS="94" VPOS="1200" ID="tl16-52" WIDTH="731" HEIGHT="24"><String HEIGHT="24" CONTENT="44" WIDTH="20" HPOS="94" VPOS="1200" ID="st16-411"/><String HEIGHT="24" CONTENT="." WIDTH="11" HPOS="114" VPOS="1200" ID="st16-412"/><SP/><String HEIGHT="24" CONTENT="Sapir" WIDTH="45" HPOS="129" VPOS="1200" ID="st16-413"/><String HEIGHT="24" CONTENT="," WIDTH="9" HPOS="174" VPOS="1200" ID="st16-414"/><SP/><String HEIGHT="24" CONTENT="J" WIDTH="7" HPOS="188" VPOS="1200" ID="st16-415"/><String HEIGHT="24" CONTENT="." WIDTH="7" HPOS="195" VPOS="1200" ID="st16-416"/><String HEIGHT="24" CONTENT=":" WIDTH="7" HPOS="202" VPOS="1200" ID="st16-417"/><String HEIGHT="24" CONTENT="»" WIDTH="11" HPOS="215" VPOS="1200" ID="st16-418"/><String HEIGHT="24" CONTENT="La" WIDTH="23" HPOS="226" VPOS="1200" ID="st16-419"/><SP/><String HEIGHT="24" CONTENT="Crise" WIDTH="48" HPOS="255" VPOS="1200" ID="st16-420"/><SP/><String HEIGHT="24" CONTENT="de" WIDTH="22" HPOS="309" VPOS="1200" ID="st16-421"/><SP/><String HEIGHT="24" CONTENT="l" WIDTH="9" HPOS="337" VPOS="1200" ID="st16-422"/><String HEIGHT="24" CONTENT="’" WIDTH="9" HPOS="346" VPOS="1200" ID="st16-423"/><String HEIGHT="24" CONTENT="Euro" WIDTH="37" HPOS="355" VPOS="1200" ID="st16-424"/><String HEIGHT="24" CONTENT=":" WIDTH="10" HPOS="392" VPOS="1200" ID="st16-425"/><SP/><String HEIGHT="24" CONTENT="erreurs" WIDTH="65" HPOS="408" VPOS="1200" ID="st16-426"/><SP/><String HEIGHT="24" CONTENT="et" WIDTH="18" HPOS="478" VPOS="1200" ID="st16-427"/><SP/><String HEIGHT="24" CONTENT="impasses" WIDTH="82" HPOS="501" VPOS="1200" ID="st16-428"/><SP/><String HEIGHT="24" CONTENT="de" WIDTH="22" HPOS="588" VPOS="1200" ID="st16-429"/><SP/><String HEIGHT="24" CONTENT="l" WIDTH="9" HPOS="616" VPOS="1200" ID="st16-430"/><String HEIGHT="24" CONTENT="’" WIDTH="10" HPOS="625" VPOS="1200" ID="st16-431"/><String HEIGHT="24" CONTENT="Européisme," WIDTH="110" HPOS="635" VPOS="1200" ID="st16-432"/><String HEIGHT="24" CONTENT="«" WIDTH="10" HPOS="745" VPOS="1200" ID="st16-433"/><SP/><String HEIGHT="24" CONTENT="op" WIDTH="20" HPOS="760" VPOS="1200" ID="st16-434"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="780" VPOS="1200" ID="st16-435"/><SP/><String HEIGHT="24" CONTENT="cit" WIDTH="21" HPOS="796" VPOS="1200" ID="st16-436"/><String HEIGHT="24" CONTENT="." WIDTH="8" HPOS="817" VPOS="1200" ID="st16-437"/></TextLine><TextLine HPOS="94" VPOS="1228" ID="tl16-53" WIDTH="795" HEIGHT="24"><String HEIGHT="24" CONTENT="45" WIDTH="18" HPOS="94" VPOS="1228" ID="st16-438"/><String HEIGHT="24" CONTENT="." WIDTH="9" HPOS="112" VPOS="1228" ID="st16-439"/><SP/><String HEIGHT="24" CONTENT="Wray" WIDTH="44" HPOS="129" VPOS="1228" ID="st16-440"/><String HEIGHT="24" CONTENT="," WIDTH="11" HPOS="173" VPOS="1228" ID="st16-441"/><SP/><String HEIGHT="24" CONTENT="L" WIDTH="10" HPOS="189" VPOS="1228" ID="st16-442"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="199" VPOS="1228" ID="st16-443"/><SP/><String HEIGHT="24" CONTENT="Randall" WIDTH="72" HPOS="214" VPOS="1228" ID="st16-444"/><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="292" VPOS="1228" ID="st16-445"/><String HEIGHT="24" CONTENT="2007" WIDTH="40" HPOS="302" VPOS="1228" ID="st16-446"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="342" VPOS="1228" ID="st16-447"/><String HEIGHT="24" CONTENT=":" WIDTH="11" HPOS="352" VPOS="1228" ID="st16-448"/><String HEIGHT="24" CONTENT="»" WIDTH="13" HPOS="368" VPOS="1228" ID="st16-449"/><String HEIGHT="24" CONTENT="A" WIDTH="13" HPOS="381" VPOS="1228" ID="st16-450"/><SP/><String HEIGHT="24" CONTENT="Post" WIDTH="40" HPOS="399" VPOS="1228" ID="st16-451"/><String HEIGHT="24" CONTENT="-" WIDTH="10" HPOS="439" VPOS="1228" ID="st16-452"/><String HEIGHT="24" CONTENT="Keynesian" WIDTH="91" HPOS="449" VPOS="1228" ID="st16-453"/><SP/><String HEIGHT="24" CONTENT="View" WIDTH="49" HPOS="545" VPOS="1228" ID="st16-454"/><SP/><String HEIGHT="24" CONTENT="of" WIDTH="19" HPOS="599" VPOS="1228" ID="st16-455"/><SP/><String HEIGHT="24" CONTENT="Central" WIDTH="69" HPOS="624" VPOS="1228" ID="st16-456"/><SP/><String HEIGHT="24" CONTENT="Bank" WIDTH="48" HPOS="698" VPOS="1228" ID="st16-457"/><SP/><String HEIGHT="24" CONTENT="Independence" WIDTH="127" HPOS="751" VPOS="1228" ID="st16-458"/><String HEIGHT="24" CONTENT="," WIDTH="11" HPOS="878" VPOS="1228" ID="st16-459"/></TextLine><TextLine HPOS="129" VPOS="1256" ID="tl16-54" WIDTH="760" HEIGHT="24"><String HEIGHT="24" CONTENT="Policy" WIDTH="57" HPOS="129" VPOS="1256" ID="st16-460"/><SP/><String HEIGHT="24" CONTENT="Targets" WIDTH="64" HPOS="189" VPOS="1256" ID="st16-461"/><String HEIGHT="24" CONTENT="," WIDTH="10" HPOS="253" VPOS="1256" ID="st16-462"/><SP/><String HEIGHT="24" CONTENT="and" WIDTH="35" HPOS="267" VPOS="1256" ID="st16-463"/><SP/><String HEIGHT="24" CONTENT="the" WIDTH="29" HPOS="306" VPOS="1256" ID="st16-464"/><SP/><String HEIGHT="24" CONTENT="Rules" WIDTH="48" HPOS="340" VPOS="1256" ID="st16-465"/><String HEIGHT="24" CONTENT="-" WIDTH="9" HPOS="388" VPOS="1256" ID="st16-466"/><String HEIGHT="24" CONTENT="versus" WIDTH="58" HPOS="397" VPOS="1256" ID="st16-467"/><String HEIGHT="24" CONTENT="-" WIDTH="9" HPOS="455" VPOS="1256" ID="st16-468"/><String HEIGHT="24" CONTENT="Discretion" WIDTH="96" HPOS="464" VPOS="1256" ID="st16-469"/><SP/><String HEIGHT="24" CONTENT="Debate," WIDTH="72" HPOS="565" VPOS="1256" ID="st16-470"/><String HEIGHT="24" CONTENT="«" WIDTH="11" HPOS="637" VPOS="1256" ID="st16-471"/><SP/><String HEIGHT="24" CONTENT="Levy" WIDTH="45" HPOS="652" VPOS="1256" ID="st16-472"/><SP/><String HEIGHT="24" CONTENT="Economics" WIDTH="104" HPOS="701" VPOS="1256" ID="st16-473"/><SP/><String HEIGHT="24" CONTENT="Institute" WIDTH="80" HPOS="809" VPOS="1256" ID="st16-474"/></TextLine><TextLine HPOS="129" VPOS="1284" ID="tl16-55" WIDTH="760" HEIGHT="23"><String HEIGHT="23" CONTENT="Working" WIDTH="83" HPOS="129" VPOS="1284" ID="st16-475"/><SP/><String HEIGHT="23" CONTENT="Paper" WIDTH="53" HPOS="220" VPOS="1284" ID="st16-476"/><SP/><String HEIGHT="23" CONTENT="No" WIDTH="24" HPOS="280" VPOS="1284" ID="st16-477"/><String HEIGHT="23" CONTENT="." WIDTH="13" HPOS="304" VPOS="1284" ID="st16-478"/><SP/><String HEIGHT="23" CONTENT="510" WIDTH="26" HPOS="325" VPOS="1284" ID="st16-479"/><String HEIGHT="23" CONTENT="." WIDTH="9" HPOS="351" VPOS="1284" ID="st16-480"/><SP/><String HEIGHT="23" CONTENT="Annandale" WIDTH="101" HPOS="367" VPOS="1284" ID="st16-481"/><String HEIGHT="23" CONTENT="-" WIDTH="11" HPOS="468" VPOS="1284" ID="st16-482"/><String HEIGHT="23" CONTENT="on" WIDTH="23" HPOS="479" VPOS="1284" ID="st16-483"/><String HEIGHT="23" CONTENT="-" WIDTH="11" HPOS="502" VPOS="1284" ID="st16-484"/><String HEIGHT="23" CONTENT="Hudson" WIDTH="67" HPOS="513" VPOS="1284" ID="st16-485"/><String HEIGHT="23" CONTENT=":" WIDTH="12" HPOS="580" VPOS="1284" ID="st16-486"/><SP/><String HEIGHT="23" CONTENT="The" WIDTH="36" HPOS="600" VPOS="1284" ID="st16-487"/><SP/><String HEIGHT="23" CONTENT="Levy" WIDTH="45" HPOS="644" VPOS="1284" ID="st16-488"/><SP/><String HEIGHT="23" CONTENT="Economics" WIDTH="104" HPOS="697" VPOS="1284" ID="st16-489"/><SP/><String HEIGHT="23" CONTENT="Institute" WIDTH="80" HPOS="809" VPOS="1284" ID="st16-490"/></TextLine><TextLine HPOS="129" VPOS="1311" ID="tl16-56" WIDTH="90" HEIGHT="24"><String HEIGHT="24" CONTENT="(" WIDTH="10" HPOS="129" VPOS="1311" ID="st16-491"/><String HEIGHT="24" CONTENT="August" WIDTH="60" HPOS="139" VPOS="1311" ID="st16-492"/><String HEIGHT="24" CONTENT=")" WIDTH="10" HPOS="199" VPOS="1311" ID="st16-493"/><String HEIGHT="24" CONTENT="." WIDTH="10" HPOS="209" VPOS="1311" ID="st16-494"/></TextLine><TextLine HPOS="94" VPOS="1388" ID="tl16-57" WIDTH="28" HEIGHT="29"><String HEIGHT="29" CONTENT="42" WIDTH="28" HPOS="94" VPOS="1388" ID="st16-495"/></TextLine><TextLine HPOS="141" VPOS="1395" ID="tl16-58" WIDTH="153" HEIGHT="18"><String HEIGHT="18" CONTENT="Sapir" WIDTH="33" HPOS="141" VPOS="1395" ID="st16-496"/><String HEIGHT="18" CONTENT="," WIDTH="7" HPOS="174" VPOS="1395" ID="st16-497"/><SP/><String HEIGHT="18" CONTENT="Financial" WIDTH="65" HPOS="185" VPOS="1395" ID="st16-498"/><SP/><String HEIGHT="18" CONTENT="Crisis" WIDTH="39" HPOS="255" VPOS="1395" ID="st16-499"/></TextLine><TextLine HPOS="799" VPOS="1398" ID="tl16-59" WIDTH="29" HEIGHT="11"><String HEIGHT="11" CONTENT="ipg" WIDTH="29" HPOS="799" VPOS="1398" ID="st16-500"/></TextLine><TextLine HPOS="833" VPOS="1394" ID="tl16-60" WIDTH="56" HEIGHT="21"><String HEIGHT="21" CONTENT="1/2009" WIDTH="56" HPOS="833" VPOS="1394" ID="st16-501"/></TextLine></TextBlock></PrintSpace></Page><Page WIDTH="984" PHYSICAL_IMG_NR="17" ID="p658185" HEIGHT="1472"><PrintSpace WIDTH="984" HPOS="0" VPOS="0" ID="ps658185" HEIGHT="1472"><TextBlock WIDTH="984" HPOS="0" VPOS="0" ID="tb658185" HEIGHT="1472"><TextLine HPOS="691" VPOS="1395" ID="tl17-0" WIDTH="152" HEIGHT="18"><String HEIGHT="18" CONTENT="Sapir" WIDTH="33" HPOS="691" VPOS="1395" ID="st17-0"/><String HEIGHT="18" CONTENT="," WIDTH="7" HPOS="724" VPOS="1395" ID="st17-1"/><SP/><String HEIGHT="18" CONTENT="Financial" WIDTH="65" HPOS="735" VPOS="1395" ID="st17-2"/><SP/><String HEIGHT="18" CONTENT="Crisis" WIDTH="39" HPOS="804" VPOS="1395" ID="st17-3"/></TextLine><TextLine HPOS="863" VPOS="1388" ID="tl17-1" WIDTH="26" HEIGHT="29"><String HEIGHT="29" CONTENT="43" WIDTH="26" HPOS="863" VPOS="1388" ID="st17-4"/></TextLine><TextLine HPOS="94" VPOS="1398" ID="tl17-2" WIDTH="30" HEIGHT="11"><String HEIGHT="11" CONTENT="ipg" WIDTH="30" HPOS="94" VPOS="1398" ID="st17-5"/></TextLine><TextLine HPOS="128" VPOS="1394" ID="tl17-3" WIDTH="56" HEIGHT="21"><String HEIGHT="21" CONTENT="1/2009" WIDTH="56" HPOS="128" VPOS="1394" ID="st17-6"/></TextLine><TextLine HPOS="95" VPOS="693" ID="tl17-4" WIDTH="20" HEIGHT="51"><String HEIGHT="51" CONTENT="Figure" WIDTH="20" HPOS="95" VPOS="693" ID="st17-7"/></TextLine><TextLine HPOS="95" VPOS="677" ID="tl17-5" WIDTH="20" HEIGHT="10"><String HEIGHT="10" CONTENT="1" WIDTH="20" HPOS="95" VPOS="677" ID="st17-8"/></TextLine><TextLine HPOS="142" VPOS="1115" ID="tl17-6" WIDTH="17" HEIGHT="24"><String HEIGHT="24" CONTENT="US" WIDTH="17" HPOS="142" VPOS="1115" ID="st17-9"/></TextLine><TextLine HPOS="164" VPOS="1078" ID="tl17-7" WIDTH="17" HEIGHT="98"><String HEIGHT="98" CONTENT="Neo" WIDTH="4" HPOS="164" VPOS="1078" ID="st17-10"/><String HEIGHT="98" CONTENT="-" WIDTH="2" HPOS="168" VPOS="1078" ID="st17-11"/><String HEIGHT="98" CONTENT="liberal" WIDTH="11" HPOS="170" VPOS="1078" ID="st17-12"/></TextLine><TextLine HPOS="185" VPOS="1088" ID="tl17-8" WIDTH="17" HEIGHT="78"><String HEIGHT="78" CONTENT="Ideology" WIDTH="17" HPOS="185" VPOS="1088" ID="st17-13"/></TextLine><TextLine HPOS="143" VPOS="758" ID="tl17-9" WIDTH="16" HEIGHT="102"><String HEIGHT="102" CONTENT="International" WIDTH="16" HPOS="143" VPOS="758" ID="st17-14"/></TextLine><TextLine HPOS="164" VPOS="771" ID="tl17-10" WIDTH="17" HEIGHT="76"><String HEIGHT="76" CONTENT="monetary" WIDTH="17" HPOS="164" VPOS="771" ID="st17-15"/></TextLine><TextLine HPOS="186" VPOS="769" ID="tl17-11" WIDTH="17" HEIGHT="80"><String HEIGHT="80" CONTENT="non" WIDTH="5" HPOS="186" VPOS="769" ID="st17-16"/><String HEIGHT="80" CONTENT="-" WIDTH="2" HPOS="191" VPOS="769" ID="st17-17"/><String HEIGHT="80" CONTENT="order" WIDTH="10" HPOS="193" VPOS="769" ID="st17-18"/></TextLine><TextLine HPOS="267" VPOS="1152" ID="tl17-12" WIDTH="16" HEIGHT="22"><String HEIGHT="22" CONTENT="US" WIDTH="16" HPOS="267" VPOS="1152" ID="st17-19"/></TextLine><TextLine HPOS="267" VPOS="1080" ID="tl17-13" WIDTH="16" HEIGHT="67"><String HEIGHT="67" CONTENT="financial" WIDTH="16" HPOS="267" VPOS="1080" ID="st17-20"/></TextLine><TextLine HPOS="288" VPOS="1076" ID="tl17-14" WIDTH="17" HEIGHT="102"><String HEIGHT="102" CONTENT="deregulation" WIDTH="17" HPOS="288" VPOS="1076" ID="st17-21"/></TextLine><TextLine HPOS="310" VPOS="1125" ID="tl17-15" WIDTH="16" HEIGHT="56"><String HEIGHT="56" CONTENT="(" WIDTH="2" HPOS="310" VPOS="1125" ID="st17-22"/><String HEIGHT="56" CONTENT="1980–" WIDTH="14" HPOS="312" VPOS="1125" ID="st17-23"/></TextLine><TextLine HPOS="310" VPOS="1072" ID="tl17-16" WIDTH="16" HEIGHT="48"><String HEIGHT="48" CONTENT="1999" WIDTH="12" HPOS="310" VPOS="1072" ID="st17-24"/><String HEIGHT="48" CONTENT=")" WIDTH="4" HPOS="322" VPOS="1072" ID="st17-25"/></TextLine><TextLine HPOS="277" VPOS="1001" ID="tl17-17" WIDTH="17" HEIGHT="31"><String HEIGHT="31" CONTENT="FED" WIDTH="17" HPOS="277" VPOS="1001" ID="st17-26"/></TextLine><TextLine HPOS="277" VPOS="917" ID="tl17-18" WIDTH="17" HEIGHT="79"><String HEIGHT="79" CONTENT="pro" WIDTH="5" HPOS="277" VPOS="917" ID="st17-27"/><String HEIGHT="79" CONTENT="-" WIDTH="1" HPOS="282" VPOS="917" ID="st17-28"/><String HEIGHT="79" CONTENT="active" WIDTH="11" HPOS="283" VPOS="917" ID="st17-29"/></TextLine><TextLine HPOS="299" VPOS="951" ID="tl17-19" WIDTH="17" HEIGHT="46"><String HEIGHT="46" CONTENT="policy" WIDTH="17" HPOS="299" VPOS="951" ID="st17-30"/></TextLine><TextLine HPOS="260" VPOS="788" ID="tl17-20" WIDTH="17" HEIGHT="42"><String HEIGHT="42" CONTENT="1998" WIDTH="17" HPOS="260" VPOS="788" ID="st17-31"/></TextLine><TextLine HPOS="281" VPOS="786" ID="tl17-21" WIDTH="17" HEIGHT="46"><String HEIGHT="46" CONTENT="Crisis" WIDTH="17" HPOS="281" VPOS="786" ID="st17-32"/></TextLine><TextLine HPOS="212" VPOS="610" ID="tl17-22" WIDTH="17" HEIGHT="44"><String HEIGHT="44" CONTENT="Asian" WIDTH="17" HPOS="212" VPOS="610" ID="st17-33"/></TextLine><TextLine HPOS="212" VPOS="532" ID="tl17-23" WIDTH="17" HEIGHT="73"><String HEIGHT="73" CONTENT="countries" WIDTH="17" HPOS="212" VPOS="532" ID="st17-34"/></TextLine><TextLine HPOS="233" VPOS="566" ID="tl17-24" WIDTH="17" HEIGHT="53"><String HEIGHT="53" CONTENT="FOREX" WIDTH="17" HPOS="233" VPOS="566" ID="st17-35"/></TextLine><TextLine HPOS="255" VPOS="539" ID="tl17-25" WIDTH="17" HEIGHT="108"><String HEIGHT="108" CONTENT="accumulating" WIDTH="17" HPOS="255" VPOS="539" ID="st17-36"/></TextLine><TextLine HPOS="276" VPOS="563" ID="tl17-26" WIDTH="17" HEIGHT="59"><String HEIGHT="59" CONTENT="policies" WIDTH="17" HPOS="276" VPOS="563" ID="st17-37"/></TextLine><TextLine HPOS="314" VPOS="678" ID="tl17-27" WIDTH="16" HEIGHT="71"><String HEIGHT="71" CONTENT="Currency" WIDTH="16" HPOS="314" VPOS="678" ID="st17-38"/></TextLine><TextLine HPOS="335" VPOS="649" ID="tl17-28" WIDTH="17" HEIGHT="129"><String HEIGHT="129" CONTENT="underevaluation" WIDTH="17" HPOS="335" VPOS="649" ID="st17-39"/></TextLine><TextLine HPOS="386" VPOS="825" ID="tl17-29" WIDTH="17" HEIGHT="77"><String HEIGHT="77" CONTENT="Wage" WIDTH="8" HPOS="386" VPOS="825" ID="st17-40"/><String HEIGHT="77" CONTENT="-" WIDTH="2" HPOS="394" VPOS="825" ID="st17-41"/><String HEIGHT="77" CONTENT="led" WIDTH="7" HPOS="396" VPOS="825" ID="st17-42"/></TextLine><TextLine HPOS="408" VPOS="828" ID="tl17-30" WIDTH="16" HEIGHT="71"><String HEIGHT="71" CONTENT="deflation" WIDTH="16" HPOS="408" VPOS="828" ID="st17-43"/></TextLine><TextLine HPOS="364" VPOS="491" ID="tl17-31" WIDTH="17" HEIGHT="97"><String HEIGHT="97" CONTENT="Competitive" WIDTH="17" HPOS="364" VPOS="491" ID="st17-44"/></TextLine><TextLine HPOS="386" VPOS="504" ID="tl17-32" WIDTH="17" HEIGHT="71"><String HEIGHT="71" CONTENT="deflation" WIDTH="17" HPOS="386" VPOS="504" ID="st17-45"/></TextLine><TextLine HPOS="436" VPOS="570" ID="tl17-33" WIDTH="17" HEIGHT="38"><String HEIGHT="38" CONTENT="High" WIDTH="17" HPOS="436" VPOS="570" ID="st17-46"/></TextLine><TextLine HPOS="436" VPOS="515" ID="tl17-34" WIDTH="17" HEIGHT="50"><String HEIGHT="50" CONTENT="saving" WIDTH="17" HPOS="436" VPOS="515" ID="st17-47"/></TextLine><TextLine HPOS="436" VPOS="471" ID="tl17-35" WIDTH="17" HEIGHT="39"><String HEIGHT="39" CONTENT="rates" WIDTH="17" HPOS="436" VPOS="471" ID="st17-48"/></TextLine><TextLine HPOS="486" VPOS="1062" ID="tl17-36" WIDTH="17" HEIGHT="107"><String HEIGHT="107" CONTENT="Securitization" WIDTH="17" HPOS="486" VPOS="1062" ID="st17-49"/></TextLine><TextLine HPOS="476" VPOS="936" ID="tl17-37" WIDTH="17" HEIGHT="54"><String HEIGHT="54" CONTENT="Private" WIDTH="17" HPOS="476" VPOS="936" ID="st17-50"/></TextLine><TextLine HPOS="497" VPOS="910" ID="tl17-38" WIDTH="17" HEIGHT="106"><String HEIGHT="106" CONTENT="indebtedness" WIDTH="17" HPOS="497" VPOS="910" ID="st17-51"/></TextLine><TextLine HPOS="558" VPOS="1094" ID="tl17-39" WIDTH="17" HEIGHT="63"><String HEIGHT="63" CONTENT="Change" WIDTH="17" HPOS="558" VPOS="1094" ID="st17-52"/></TextLine><TextLine HPOS="558" VPOS="1074" ID="tl17-40" WIDTH="17" HEIGHT="15"><String HEIGHT="15" CONTENT="in" WIDTH="17" HPOS="558" VPOS="1074" ID="st17-53"/></TextLine><TextLine HPOS="580" VPOS="1133" ID="tl17-41" WIDTH="17" HEIGHT="40"><String HEIGHT="40" CONTENT="bank" WIDTH="17" HPOS="580" VPOS="1133" ID="st17-54"/></TextLine><TextLine HPOS="580" VPOS="1058" ID="tl17-42" WIDTH="17" HEIGHT="70"><String HEIGHT="70" CONTENT="practices" WIDTH="17" HPOS="580" VPOS="1058" ID="st17-55"/></TextLine><TextLine HPOS="556" VPOS="823" ID="tl17-43" WIDTH="17" HEIGHT="27"><String HEIGHT="27" CONTENT="Fall" WIDTH="17" HPOS="556" VPOS="823" ID="st17-56"/></TextLine><TextLine HPOS="556" VPOS="801" ID="tl17-44" WIDTH="17" HEIGHT="17"><String HEIGHT="17" CONTENT="of" WIDTH="17" HPOS="556" VPOS="801" ID="st17-57"/></TextLine><TextLine HPOS="578" VPOS="784" ID="tl17-45" WIDTH="17" HEIGHT="83"><String HEIGHT="83" CONTENT="household" WIDTH="17" HPOS="578" VPOS="784" ID="st17-58"/></TextLine><TextLine HPOS="600" VPOS="819" ID="tl17-46" WIDTH="16" HEIGHT="50"><String HEIGHT="50" CONTENT="saving" WIDTH="16" HPOS="600" VPOS="819" ID="st17-59"/></TextLine><TextLine HPOS="600" VPOS="782" ID="tl17-47" WIDTH="16" HEIGHT="31"><String HEIGHT="31" CONTENT="rate" WIDTH="16" HPOS="600" VPOS="782" ID="st17-60"/></TextLine><TextLine HPOS="511" VPOS="638" ID="tl17-48" WIDTH="17" HEIGHT="93"><String HEIGHT="93" CONTENT="Sterilization" WIDTH="17" HPOS="511" VPOS="638" ID="st17-61"/></TextLine><TextLine HPOS="466" VPOS="567" ID="tl17-49" WIDTH="17" HEIGHT="38"><String HEIGHT="38" CONTENT="High" WIDTH="17" HPOS="466" VPOS="567" ID="st17-62"/></TextLine><TextLine HPOS="466" VPOS="474" ID="tl17-50" WIDTH="17" HEIGHT="88"><String HEIGHT="88" CONTENT="investment" WIDTH="17" HPOS="466" VPOS="474" ID="st17-63"/></TextLine><TextLine HPOS="509" VPOS="532" ID="tl17-51" WIDTH="16" HEIGHT="72"><String HEIGHT="72" CONTENT="Climbing" WIDTH="16" HPOS="509" VPOS="532" ID="st17-64"/></TextLine><TextLine HPOS="509" VPOS="506" ID="tl17-52" WIDTH="16" HEIGHT="21"><String HEIGHT="21" CONTENT="up" WIDTH="16" HPOS="509" VPOS="506" ID="st17-65"/></TextLine><TextLine HPOS="509" VPOS="474" ID="tl17-53" WIDTH="16" HEIGHT="27"><String HEIGHT="27" CONTENT="the" WIDTH="16" HPOS="509" VPOS="474" ID="st17-66"/></TextLine><TextLine HPOS="530" VPOS="486" ID="tl17-54" WIDTH="17" HEIGHT="107"><String HEIGHT="107" CONTENT="technological" WIDTH="17" HPOS="530" VPOS="486" ID="st17-67"/></TextLine><TextLine HPOS="552" VPOS="514" ID="tl17-55" WIDTH="17" HEIGHT="51"><String HEIGHT="51" CONTENT="ladder" WIDTH="17" HPOS="552" VPOS="514" ID="st17-68"/></TextLine><TextLine HPOS="599" VPOS="504" ID="tl17-56" WIDTH="17" HEIGHT="70"><String HEIGHT="70" CONTENT="Growing" WIDTH="17" HPOS="599" VPOS="504" ID="st17-69"/></TextLine><TextLine HPOS="621" VPOS="476" ID="tl17-57" WIDTH="17" HEIGHT="127"><String HEIGHT="127" CONTENT="competitiveness" WIDTH="17" HPOS="621" VPOS="476" ID="st17-70"/></TextLine><TextLine HPOS="648" VPOS="1085" ID="tl17-58" WIDTH="12" HEIGHT="16"><String HEIGHT="16" CONTENT="US" WIDTH="12" HPOS="648" VPOS="1085" ID="st17-71"/></TextLine><TextLine HPOS="648" VPOS="1046" ID="tl17-59" WIDTH="12" HEIGHT="35"><String HEIGHT="35" CONTENT="PONZI" WIDTH="12" HPOS="648" VPOS="1046" ID="st17-72"/></TextLine><TextLine HPOS="648" VPOS="991" ID="tl17-60" WIDTH="12" HEIGHT="51"><String HEIGHT="51" CONTENT="FINANCE" WIDTH="12" HPOS="648" VPOS="991" ID="st17-73"/></TextLine><TextLine HPOS="648" VPOS="955" ID="tl17-61" WIDTH="12" HEIGHT="32"><String HEIGHT="32" CONTENT="BLOC" WIDTH="12" HPOS="648" VPOS="955" ID="st17-74"/></TextLine><TextLine HPOS="711" VPOS="1171" ID="tl17-62" WIDTH="17" HEIGHT="48"><String HEIGHT="48" CONTENT="Ponzi" WIDTH="17" HPOS="711" VPOS="1171" ID="st17-75"/></TextLine><TextLine HPOS="711" VPOS="1101" ID="tl17-63" WIDTH="17" HEIGHT="65"><String HEIGHT="65" CONTENT="finance" WIDTH="17" HPOS="711" VPOS="1101" ID="st17-76"/></TextLine><TextLine HPOS="732" VPOS="1215" ID="tl17-64" WIDTH="17" HEIGHT="17"><String HEIGHT="17" CONTENT="in" WIDTH="17" HPOS="732" VPOS="1215" ID="st17-77"/></TextLine><TextLine HPOS="732" VPOS="1181" ID="tl17-65" WIDTH="17" HEIGHT="29"><String HEIGHT="29" CONTENT="the" WIDTH="17" HPOS="732" VPOS="1181" ID="st17-78"/></TextLine><TextLine HPOS="732" VPOS="1089" ID="tl17-66" WIDTH="17" HEIGHT="87"><String HEIGHT="87" CONTENT="mortgage" WIDTH="17" HPOS="732" VPOS="1089" ID="st17-79"/></TextLine><TextLine HPOS="754" VPOS="1124" ID="tl17-67" WIDTH="17" HEIGHT="73"><String HEIGHT="73" CONTENT="industry" WIDTH="17" HPOS="754" VPOS="1124" ID="st17-80"/></TextLine><TextLine HPOS="705" VPOS="1019" ID="tl17-68" WIDTH="16" HEIGHT="22"><String HEIGHT="22" CONTENT="US" WIDTH="16" HPOS="705" VPOS="1019" ID="st17-81"/></TextLine><TextLine HPOS="705" VPOS="930" ID="tl17-69" WIDTH="16" HEIGHT="84"><String HEIGHT="84" CONTENT="household" WIDTH="16" HPOS="705" VPOS="930" ID="st17-82"/></TextLine><TextLine HPOS="726" VPOS="945" ID="tl17-70" WIDTH="17" HEIGHT="82"><String HEIGHT="82" CONTENT="insolvency" WIDTH="17" HPOS="726" VPOS="945" ID="st17-83"/></TextLine><TextLine HPOS="666" VPOS="763" ID="tl17-71" WIDTH="17" HEIGHT="109"><String HEIGHT="109" CONTENT="Consumption" WIDTH="17" HPOS="666" VPOS="763" ID="st17-84"/></TextLine><TextLine HPOS="688" VPOS="838" ID="tl17-72" WIDTH="17" HEIGHT="24"><String HEIGHT="24" CONTENT="led" WIDTH="17" HPOS="688" VPOS="838" ID="st17-85"/></TextLine><TextLine HPOS="688" VPOS="774" ID="tl17-73" WIDTH="17" HEIGHT="58"><String HEIGHT="58" CONTENT="growth" WIDTH="17" HPOS="688" VPOS="774" ID="st17-86"/></TextLine><TextLine HPOS="743" VPOS="822" ID="tl17-74" WIDTH="17" HEIGHT="61"><String HEIGHT="61" CONTENT="Current" WIDTH="17" HPOS="743" VPOS="822" ID="st17-87"/></TextLine><TextLine HPOS="743" VPOS="753" ID="tl17-75" WIDTH="17" HEIGHT="63"><String HEIGHT="63" CONTENT="account" WIDTH="17" HPOS="743" VPOS="753" ID="st17-88"/></TextLine><TextLine HPOS="764" VPOS="793" ID="tl17-76" WIDTH="17" HEIGHT="49"><String HEIGHT="49" CONTENT="deficit" WIDTH="17" HPOS="764" VPOS="793" ID="st17-89"/></TextLine><TextLine HPOS="675" VPOS="519" ID="tl17-77" WIDTH="17" HEIGHT="82"><String HEIGHT="82" CONTENT="Export" WIDTH="10" HPOS="675" VPOS="519" ID="st17-90"/><String HEIGHT="82" CONTENT="-" WIDTH="1" HPOS="685" VPOS="519" ID="st17-91"/><String HEIGHT="82" CONTENT="led" WIDTH="6" HPOS="686" VPOS="519" ID="st17-92"/></TextLine><TextLine HPOS="675" VPOS="478" ID="tl17-78" WIDTH="17" HEIGHT="36"><String HEIGHT="36" CONTENT="high" WIDTH="17" HPOS="675" VPOS="478" ID="st17-93"/></TextLine><TextLine HPOS="697" VPOS="510" ID="tl17-79" WIDTH="17" HEIGHT="59"><String HEIGHT="59" CONTENT="growth" WIDTH="17" HPOS="697" VPOS="510" ID="st17-94"/></TextLine><TextLine HPOS="752" VPOS="543" ID="tl17-80" WIDTH="17" HEIGHT="62"><String HEIGHT="62" CONTENT="Current" WIDTH="17" HPOS="752" VPOS="543" ID="st17-95"/></TextLine><TextLine HPOS="752" VPOS="474" ID="tl17-81" WIDTH="17" HEIGHT="64"><String HEIGHT="64" CONTENT="account" WIDTH="17" HPOS="752" VPOS="474" ID="st17-96"/></TextLine><TextLine HPOS="774" VPOS="511" ID="tl17-82" WIDTH="16" HEIGHT="57"><String HEIGHT="57" CONTENT="surplus" WIDTH="16" HPOS="774" VPOS="511" ID="st17-97"/></TextLine><TextLine HPOS="823" VPOS="926" ID="tl17-83" WIDTH="17" HEIGHT="120"><String HEIGHT="120" CONTENT="Contamination" WIDTH="17" HPOS="823" VPOS="926" ID="st17-98"/></TextLine><TextLine HPOS="845" VPOS="1019" ID="tl17-84" WIDTH="17" HEIGHT="16"><String HEIGHT="16" CONTENT="of" WIDTH="17" HPOS="845" VPOS="1019" ID="st17-99"/></TextLine><TextLine HPOS="845" VPOS="987" ID="tl17-85" WIDTH="17" HEIGHT="26"><String HEIGHT="26" CONTENT="the" WIDTH="17" HPOS="845" VPOS="987" ID="st17-100"/></TextLine><TextLine HPOS="845" VPOS="936" ID="tl17-86" WIDTH="17" HEIGHT="46"><String HEIGHT="46" CONTENT="world" WIDTH="17" HPOS="845" VPOS="936" ID="st17-101"/></TextLine><TextLine HPOS="867" VPOS="982" ID="tl17-87" WIDTH="16" HEIGHT="67"><String HEIGHT="67" CONTENT="financial" WIDTH="16" HPOS="867" VPOS="982" ID="st17-102"/></TextLine><TextLine HPOS="867" VPOS="922" ID="tl17-88" WIDTH="16" HEIGHT="55"><String HEIGHT="55" CONTENT="system" WIDTH="16" HPOS="867" VPOS="922" ID="st17-103"/></TextLine><TextLine HPOS="854" VPOS="584" ID="tl17-89" WIDTH="12" HEIGHT="36"><String HEIGHT="36" CONTENT="ASIAN" WIDTH="12" HPOS="854" VPOS="584" ID="st17-104"/></TextLine><TextLine HPOS="854" VPOS="495" ID="tl17-90" WIDTH="12" HEIGHT="85"><String HEIGHT="85" CONTENT="MERCANTILIST" WIDTH="12" HPOS="854" VPOS="495" ID="st17-105"/></TextLine><TextLine HPOS="854" VPOS="459" ID="tl17-91" WIDTH="12" HEIGHT="32"><String HEIGHT="32" CONTENT="BLOC" WIDTH="12" HPOS="854" VPOS="459" ID="st17-106"/></TextLine><TextLine HPOS="248" VPOS="373" ID="tl17-92" WIDTH="16" HEIGHT="32"><String HEIGHT="32" CONTENT="ECB" WIDTH="16" HPOS="248" VPOS="373" ID="st17-107"/></TextLine><TextLine HPOS="248" VPOS="330" ID="tl17-93" WIDTH="16" HEIGHT="38"><String HEIGHT="38" CONTENT="non" WIDTH="12" HPOS="248" VPOS="330" ID="st17-108" SUBS_TYPE="HypPart1" SUBS_CONTENT="nonactive"/><HYP CONTENT="-" WIDTH="4" HPOS="260" VPOS="330" HEIGHT="38"/></TextLine><TextLine HPOS="269" VPOS="370" ID="tl17-94" WIDTH="17" HEIGHT="46"><String HEIGHT="46" CONTENT="active" WIDTH="17" HPOS="269" VPOS="370" ID="st17-109" SUBS_TYPE="HypPart2" SUBS_CONTENT="nonactive"/></TextLine><TextLine HPOS="269" VPOS="319" ID="tl17-95" WIDTH="17" HEIGHT="46"><String HEIGHT="46" CONTENT="policy" WIDTH="17" HPOS="269" VPOS="319" ID="st17-110"/></TextLine><TextLine HPOS="331" VPOS="362" ID="tl17-96" WIDTH="17" HEIGHT="53"><String HEIGHT="53" CONTENT="Strong" WIDTH="17" HPOS="331" VPOS="362" ID="st17-111"/></TextLine><TextLine HPOS="331" VPOS="320" ID="tl17-97" WIDTH="17" HEIGHT="37"><String HEIGHT="37" CONTENT="Euro" WIDTH="17" HPOS="331" VPOS="320" ID="st17-112"/></TextLine><TextLine HPOS="331" VPOS="270" ID="tl17-98" WIDTH="17" HEIGHT="22"><String HEIGHT="22" CONTENT="EU" WIDTH="17" HPOS="331" VPOS="270" ID="st17-113"/></TextLine><TextLine HPOS="331" VPOS="184" ID="tl17-99" WIDTH="17" HEIGHT="81"><String HEIGHT="81" CONTENT="expansion" WIDTH="17" HPOS="331" VPOS="184" ID="st17-114"/></TextLine><TextLine HPOS="409" VPOS="299" ID="tl17-100" WIDTH="17" HEIGHT="77"><String HEIGHT="77" CONTENT="Wage" WIDTH="8" HPOS="409" VPOS="299" ID="st17-115"/><String HEIGHT="77" CONTENT="-" WIDTH="2" HPOS="417" VPOS="299" ID="st17-116"/><String HEIGHT="77" CONTENT="led" WIDTH="7" HPOS="419" VPOS="299" ID="st17-117"/></TextLine><TextLine HPOS="430" VPOS="302" ID="tl17-101" WIDTH="17" HEIGHT="71"><String HEIGHT="71" CONTENT="deflation" WIDTH="17" HPOS="430" VPOS="302" ID="st17-118"/></TextLine><TextLine HPOS="507" VPOS="303" ID="tl17-102" WIDTH="17" HEIGHT="83"><String HEIGHT="83" CONTENT="Depressed" WIDTH="17" HPOS="507" VPOS="303" ID="st17-119"/></TextLine><TextLine HPOS="528" VPOS="317" ID="tl17-103" WIDTH="17" HEIGHT="55"><String HEIGHT="55" CONTENT="activity" WIDTH="17" HPOS="528" VPOS="317" ID="st17-120"/></TextLine><TextLine HPOS="507" VPOS="183" ID="tl17-104" WIDTH="17" HEIGHT="26"><String HEIGHT="26" CONTENT="Fall" WIDTH="17" HPOS="507" VPOS="183" ID="st17-121"/></TextLine><TextLine HPOS="507" VPOS="161" ID="tl17-105" WIDTH="17" HEIGHT="16"><String HEIGHT="16" CONTENT="of" WIDTH="17" HPOS="507" VPOS="161" ID="st17-122"/></TextLine><TextLine HPOS="528" VPOS="141" ID="tl17-106" WIDTH="17" HEIGHT="88"><String HEIGHT="88" CONTENT="investment" WIDTH="17" HPOS="528" VPOS="141" ID="st17-123"/></TextLine><TextLine HPOS="591" VPOS="160" ID="tl17-107" WIDTH="17" HEIGHT="72"><String HEIGHT="72" CONTENT="Decrease" WIDTH="17" HPOS="591" VPOS="160" ID="st17-124"/></TextLine><TextLine HPOS="591" VPOS="138" ID="tl17-108" WIDTH="17" HEIGHT="16"><String HEIGHT="16" CONTENT="of" WIDTH="17" HPOS="591" VPOS="138" ID="st17-125"/></TextLine><TextLine HPOS="612" VPOS="121" ID="tl17-109" WIDTH="17" HEIGHT="127"><String HEIGHT="127" CONTENT="competitiveness" WIDTH="17" HPOS="612" VPOS="121" ID="st17-126"/></TextLine><TextLine HPOS="685" VPOS="330" ID="tl17-110" WIDTH="17" HEIGHT="80"><String HEIGHT="80" CONTENT="Emulating" WIDTH="17" HPOS="685" VPOS="330" ID="st17-127"/></TextLine><TextLine HPOS="707" VPOS="371" ID="tl17-111" WIDTH="17" HEIGHT="26"><String HEIGHT="26" CONTENT="the" WIDTH="17" HPOS="707" VPOS="371" ID="st17-128"/></TextLine><TextLine HPOS="707" VPOS="343" ID="tl17-112" WIDTH="17" HEIGHT="22"><String HEIGHT="22" CONTENT="US" WIDTH="17" HPOS="707" VPOS="343" ID="st17-129"/></TextLine><TextLine HPOS="728" VPOS="342" ID="tl17-113" WIDTH="17" HEIGHT="56"><String HEIGHT="56" CONTENT="model" WIDTH="14" HPOS="728" VPOS="342" ID="st17-130"/><String HEIGHT="56" CONTENT=":" WIDTH="3" HPOS="742" VPOS="342" ID="st17-131"/></TextLine><TextLine HPOS="750" VPOS="358" ID="tl17-114" WIDTH="17" HEIGHT="24"><String HEIGHT="24" CONTENT="UK" WIDTH="17" HPOS="750" VPOS="358" ID="st17-132"/></TextLine><TextLine HPOS="771" VPOS="348" ID="tl17-115" WIDTH="17" HEIGHT="44"><String HEIGHT="44" CONTENT="Spain" WIDTH="17" HPOS="771" VPOS="348" ID="st17-133"/></TextLine><TextLine HPOS="793" VPOS="343" ID="tl17-116" WIDTH="17" HEIGHT="54"><String HEIGHT="54" CONTENT="Ireland" WIDTH="17" HPOS="793" VPOS="343" ID="st17-134"/></TextLine><TextLine HPOS="696" VPOS="245" ID="tl17-117" WIDTH="17" HEIGHT="39"><String HEIGHT="39" CONTENT="Neo" WIDTH="13" HPOS="696" VPOS="245" ID="st17-135" SUBS_TYPE="HypPart1" SUBS_CONTENT="Neomercantilist"/><HYP CONTENT="-" WIDTH="4" HPOS="709" VPOS="245" HEIGHT="39"/></TextLine><TextLine HPOS="717" VPOS="219" ID="tl17-118" WIDTH="17" HEIGHT="91"><String HEIGHT="91" CONTENT="mercantilist" WIDTH="17" HPOS="717" VPOS="219" ID="st17-136" SUBS_TYPE="HypPart2" SUBS_CONTENT="Neomercantilist"/></TextLine><TextLine HPOS="739" VPOS="239" ID="tl17-119" WIDTH="17" HEIGHT="51"><String HEIGHT="51" CONTENT="policy" WIDTH="14" HPOS="739" VPOS="239" ID="st17-137"/><String HEIGHT="51" CONTENT=":" WIDTH="3" HPOS="753" VPOS="239" ID="st17-138"/></TextLine><TextLine HPOS="760" VPOS="228" ID="tl17-120" WIDTH="17" HEIGHT="73"><String HEIGHT="73" CONTENT="Germany" WIDTH="17" HPOS="760" VPOS="228" ID="st17-139"/></TextLine><TextLine HPOS="685" VPOS="126" ID="tl17-121" WIDTH="17" HEIGHT="67"><String HEIGHT="67" CONTENT="Classical" WIDTH="17" HPOS="685" VPOS="126" ID="st17-140"/></TextLine><TextLine HPOS="707" VPOS="139" ID="tl17-122" WIDTH="17" HEIGHT="40"><String HEIGHT="40" CONTENT="fiscal" WIDTH="17" HPOS="707" VPOS="139" ID="st17-141"/></TextLine><TextLine HPOS="728" VPOS="119" ID="tl17-123" WIDTH="17" HEIGHT="80"><String HEIGHT="80" CONTENT="expansion" WIDTH="17" HPOS="728" VPOS="119" ID="st17-142"/></TextLine><TextLine HPOS="750" VPOS="133" ID="tl17-124" WIDTH="17" HEIGHT="52"><String HEIGHT="52" CONTENT="policy" WIDTH="14" HPOS="750" VPOS="133" ID="st17-143"/><String HEIGHT="52" CONTENT=":" WIDTH="3" HPOS="764" VPOS="133" ID="st17-144"/></TextLine><TextLine HPOS="771" VPOS="133" ID="tl17-125" WIDTH="17" HEIGHT="52"><String HEIGHT="52" CONTENT="France" WIDTH="17" HPOS="771" VPOS="133" ID="st17-145"/></TextLine><TextLine HPOS="793" VPOS="143" ID="tl17-126" WIDTH="17" HEIGHT="32"><String HEIGHT="32" CONTENT="Italy" WIDTH="17" HPOS="793" VPOS="143" ID="st17-146"/></TextLine><TextLine HPOS="854" VPOS="331" ID="tl17-127" WIDTH="12" HEIGHT="33"><String HEIGHT="33" CONTENT="EURO" WIDTH="12" HPOS="854" VPOS="331" ID="st17-147"/></TextLine><TextLine HPOS="854" VPOS="252" ID="tl17-128" WIDTH="12" HEIGHT="76"><String HEIGHT="76" CONTENT="DIVERGENCE" WIDTH="12" HPOS="854" VPOS="252" ID="st17-148"/></TextLine><TextLine HPOS="854" VPOS="195" ID="tl17-129" WIDTH="12" HEIGHT="53"><String HEIGHT="53" CONTENT="PROCESS" WIDTH="12" HPOS="854" VPOS="195" ID="st17-149"/></TextLine></TextBlock></PrintSpace></Page><Page WIDTH="984" PHYSICAL_IMG_NR="18" ID="p658186" HEIGHT="1472"><PrintSpace WIDTH="984" HPOS="0" VPOS="0" ID="ps658186" HEIGHT="1472"><TextBlock WIDTH="984" HPOS="0" VPOS="0" ID="tb658186" HEIGHT="1472"><TextLine HPOS="94" VPOS="94" ID="tl18-0" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="change" WIDTH="72" HPOS="94" VPOS="94" ID="st18-0"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="166" VPOS="94" ID="st18-1"/><SP/><String HEIGHT="28" CONTENT="The" WIDTH="43" HPOS="187" VPOS="94" ID="st18-2"/><SP/><String HEIGHT="28" CONTENT="alternative" WIDTH="112" HPOS="238" VPOS="94" ID="st18-3"/><String HEIGHT="28" CONTENT="," WIDTH="11" HPOS="350" VPOS="94" ID="st18-4"/><SP/><String HEIGHT="28" CONTENT="however" WIDTH="88" HPOS="369" VPOS="94" ID="st18-5"/><String HEIGHT="28" CONTENT="," WIDTH="13" HPOS="457" VPOS="94" ID="st18-6"/><SP/><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="478" VPOS="94" ID="st18-7"/><SP/><String HEIGHT="28" CONTENT="an" WIDTH="26" HPOS="503" VPOS="94" ID="st18-8"/><SP/><String HEIGHT="28" CONTENT="exit" WIDTH="40" HPOS="537" VPOS="94" ID="st18-9"/><SP/><String HEIGHT="28" CONTENT="strategy" WIDTH="87" HPOS="585" VPOS="94" ID="st18-10"/><SP/><String HEIGHT="28" CONTENT="for" WIDTH="32" HPOS="680" VPOS="94" ID="st18-11"/><SP/><String HEIGHT="28" CONTENT="some" WIDTH="59" HPOS="720" VPOS="94" ID="st18-12"/><SP/><String HEIGHT="28" CONTENT="countries" WIDTH="102" HPOS="787" VPOS="94" ID="st18-13"/></TextLine><TextLine HPOS="94" VPOS="126" ID="tl18-1" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="that" WIDTH="44" HPOS="94" VPOS="126" ID="st18-14"/><SP/><String HEIGHT="28" CONTENT="would" WIDTH="70" HPOS="146" VPOS="126" ID="st18-15"/><SP/><String HEIGHT="28" CONTENT="lead" WIDTH="45" HPOS="224" VPOS="126" ID="st18-16"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="277" VPOS="126" ID="st18-17"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="308" VPOS="126" ID="st18-18"/><SP/><String HEIGHT="28" CONTENT="complete" WIDTH="102" HPOS="351" VPOS="126" ID="st18-19"/><SP/><String HEIGHT="28" CONTENT="dissolution" WIDTH="124" HPOS="460" VPOS="126" ID="st18-20"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="591" VPOS="126" ID="st18-21"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="622" VPOS="126" ID="st18-22"/><SP/><String HEIGHT="28" CONTENT="Eurozone" WIDTH="104" HPOS="665" VPOS="126" ID="st18-23"/><String HEIGHT="28" CONTENT="." WIDTH="13" HPOS="769" VPOS="126" ID="st18-24"/><SP/><String HEIGHT="28" CONTENT="Evolving" WIDTH="100" HPOS="789" VPOS="126" ID="st18-25"/></TextLine><TextLine HPOS="94" VPOS="158" ID="tl18-2" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="from" WIDTH="55" HPOS="94" VPOS="158" ID="st18-26"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="157" VPOS="158" ID="st18-27"/><String HEIGHT="28" CONTENT="»" WIDTH="11" HPOS="176" VPOS="158" ID="st18-28"/><String HEIGHT="28" CONTENT="single" WIDTH="66" HPOS="187" VPOS="158" ID="st18-29"/><SP/><String HEIGHT="28" CONTENT="currency" WIDTH="96" HPOS="262" VPOS="158" ID="st18-30"/><String HEIGHT="28" CONTENT="«" WIDTH="12" HPOS="358" VPOS="158" ID="st18-31"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="23" HPOS="378" VPOS="158" ID="st18-32"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="11" HPOS="409" VPOS="158" ID="st18-33"/><String HEIGHT="28" CONTENT="»" WIDTH="16" HPOS="428" VPOS="158" ID="st18-34"/><String HEIGHT="28" CONTENT="common" WIDTH="97" HPOS="444" VPOS="158" ID="st18-35"/><SP/><String HEIGHT="28" CONTENT="currency" WIDTH="96" HPOS="549" VPOS="158" ID="st18-36"/><String HEIGHT="28" CONTENT="«" WIDTH="12" HPOS="645" VPOS="158" ID="st18-37"/><SP/><String HEIGHT="28" CONTENT="is" WIDTH="17" HPOS="665" VPOS="158" ID="st18-38"/><SP/><String HEIGHT="28" CONTENT="probably" WIDTH="99" HPOS="690" VPOS="158" ID="st18-39"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="797" VPOS="158" ID="st18-40"/><SP/><String HEIGHT="28" CONTENT="only" WIDTH="49" HPOS="840" VPOS="158" ID="st18-41"/></TextLine><TextLine HPOS="94" VPOS="190" ID="tl18-3" WIDTH="789" HEIGHT="28"><String HEIGHT="28" CONTENT="way" WIDTH="44" HPOS="94" VPOS="190" ID="st18-42"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="144" VPOS="190" ID="st18-43"/><SP/><String HEIGHT="28" CONTENT="keeping" WIDTH="87" HPOS="174" VPOS="190" ID="st18-44"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="268" VPOS="190" ID="st18-45"/><SP/><String HEIGHT="28" CONTENT="euro" WIDTH="51" HPOS="309" VPOS="190" ID="st18-46"/><SP/><String HEIGHT="28" CONTENT="alive" WIDTH="47" HPOS="367" VPOS="190" ID="st18-47"/><String HEIGHT="28" CONTENT="," WIDTH="10" HPOS="414" VPOS="190" ID="st18-48"/><SP/><String HEIGHT="28" CONTENT="even" WIDTH="50" HPOS="431" VPOS="190" ID="st18-49"/><SP/><String HEIGHT="28" CONTENT="if" WIDTH="15" HPOS="488" VPOS="190" ID="st18-50"/><SP/><String HEIGHT="28" CONTENT="under" WIDTH="66" HPOS="510" VPOS="190" ID="st18-51"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="582" VPOS="190" ID="st18-52"/><SP/><String HEIGHT="28" CONTENT="radically" WIDTH="92" HPOS="600" VPOS="190" ID="st18-53"/><SP/><String HEIGHT="28" CONTENT="different" WIDTH="95" HPOS="699" VPOS="190" ID="st18-54"/><SP/><String HEIGHT="28" CONTENT="system" WIDTH="71" HPOS="800" VPOS="190" ID="st18-55"/><String HEIGHT="28" CONTENT="." WIDTH="12" HPOS="871" VPOS="190" ID="st18-56"/></TextLine><TextLine HPOS="129" VPOS="222" ID="tl18-4" WIDTH="760" HEIGHT="28"><String HEIGHT="28" CONTENT="This" WIDTH="49" HPOS="129" VPOS="222" ID="st18-57"/><SP/><String HEIGHT="28" CONTENT="new" WIDTH="46" HPOS="185" VPOS="222" ID="st18-58"/><SP/><String HEIGHT="28" CONTENT="European" WIDTH="109" HPOS="237" VPOS="222" ID="st18-59"/><SP/><String HEIGHT="28" CONTENT="Monetary" WIDTH="109" HPOS="353" VPOS="222" ID="st18-60"/><SP/><String HEIGHT="28" CONTENT="System" WIDTH="74" HPOS="468" VPOS="222" ID="st18-61"/><String HEIGHT="28" CONTENT="," WIDTH="13" HPOS="542" VPOS="222" ID="st18-62"/><SP/><String HEIGHT="28" CONTENT="combining" WIDTH="121" HPOS="561" VPOS="222" ID="st18-63"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="688" VPOS="222" ID="st18-64"/><SP/><String HEIGHT="28" CONTENT="euro" WIDTH="50" HPOS="730" VPOS="222" ID="st18-65"/><SP/><String HEIGHT="28" CONTENT="as" WIDTH="21" HPOS="787" VPOS="222" ID="st18-66"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="814" VPOS="222" ID="st18-67"/><SP/><String HEIGHT="28" CONTENT="com" WIDTH="43" HPOS="832" VPOS="222" ID="st18-68" SUBS_TYPE="HypPart1" SUBS_CONTENT="common"/><HYP CONTENT="-" WIDTH="14" HPOS="875" VPOS="222" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="254" ID="tl18-5" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="mon" WIDTH="52" HPOS="94" VPOS="254" ID="st18-69" SUBS_TYPE="HypPart2" SUBS_CONTENT="common"/><String HEIGHT="28" CONTENT="»" WIDTH="11" HPOS="155" VPOS="254" ID="st18-70"/><String HEIGHT="28" CONTENT="supranational" WIDTH="153" HPOS="166" VPOS="254" ID="st18-71"/><String HEIGHT="28" CONTENT="«" WIDTH="12" HPOS="319" VPOS="254" ID="st18-72"/><SP/><String HEIGHT="28" CONTENT="currency" WIDTH="95" HPOS="340" VPOS="254" ID="st18-73"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="40" HPOS="445" VPOS="254" ID="st18-74"/><SP/><String HEIGHT="28" CONTENT="national" WIDTH="90" HPOS="495" VPOS="254" ID="st18-75"/><SP/><String HEIGHT="28" CONTENT="currencies" WIDTH="108" HPOS="594" VPOS="254" ID="st18-76"/><String HEIGHT="28" CONTENT="," WIDTH="11" HPOS="702" VPOS="254" ID="st18-77"/><SP/><String HEIGHT="28" CONTENT="would" WIDTH="71" HPOS="722" VPOS="254" ID="st18-78"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="803" VPOS="254" ID="st18-79"/><SP/><String HEIGHT="28" CONTENT="a" WIDTH="12" HPOS="838" VPOS="254" ID="st18-80"/><SP/><String HEIGHT="28" CONTENT="re" WIDTH="20" HPOS="859" VPOS="254" ID="st18-81" SUBS_TYPE="HypPart1" SUBS_CONTENT="regional"/><HYP CONTENT="-" WIDTH="10" HPOS="879" VPOS="254" HEIGHT="28"/></TextLine><TextLine HPOS="94" VPOS="286" ID="tl18-6" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="gional" WIDTH="69" HPOS="94" VPOS="286" ID="st18-82" SUBS_TYPE="HypPart2" SUBS_CONTENT="regional"/><SP/><String HEIGHT="28" CONTENT="variant" WIDTH="77" HPOS="170" VPOS="286" ID="st18-83"/><SP/><String HEIGHT="28" CONTENT="of" WIDTH="23" HPOS="254" VPOS="286" ID="st18-84"/><SP/><String HEIGHT="28" CONTENT="what" WIDTH="55" HPOS="284" VPOS="286" ID="st18-85"/><SP/><String HEIGHT="28" CONTENT="Keynes" WIDTH="79" HPOS="347" VPOS="286" ID="st18-86"/><SP/><String HEIGHT="28" CONTENT="proposed" WIDTH="105" HPOS="433" VPOS="286" ID="st18-87"/><SP/><String HEIGHT="28" CONTENT="at" WIDTH="20" HPOS="545" VPOS="286" ID="st18-88"/><SP/><String HEIGHT="28" CONTENT="Bretton" WIDTH="85" HPOS="573" VPOS="286" ID="st18-89"/><SP/><String HEIGHT="28" CONTENT="Woods" WIDTH="71" HPOS="665" VPOS="286" ID="st18-90"/><String HEIGHT="28" CONTENT="." WIDTH="15" HPOS="736" VPOS="286" ID="st18-91"/><SP/><String HEIGHT="28" CONTENT="It" WIDTH="19" HPOS="758" VPOS="286" ID="st18-92"/><SP/><String HEIGHT="28" CONTENT="would" WIDTH="71" HPOS="785" VPOS="286" ID="st18-93"/><SP/><String HEIGHT="28" CONTENT="be" WIDTH="26" HPOS="863" VPOS="286" ID="st18-94"/></TextLine><TextLine HPOS="94" VPOS="318" ID="tl18-7" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="better" WIDTH="65" HPOS="94" VPOS="318" ID="st18-95"/><SP/><String HEIGHT="28" CONTENT="suited" WIDTH="67" HPOS="166" VPOS="318" ID="st18-96"/><SP/><String HEIGHT="28" CONTENT="to" WIDTH="24" HPOS="240" VPOS="318" ID="st18-97"/><SP/><String HEIGHT="28" CONTENT="stabilizing" WIDTH="114" HPOS="270" VPOS="318" ID="st18-98"/><SP/><String HEIGHT="28" CONTENT="growth" WIDTH="82" HPOS="391" VPOS="318" ID="st18-99"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="480" VPOS="318" ID="st18-100"/><SP/><String HEIGHT="28" CONTENT="trade" WIDTH="56" HPOS="528" VPOS="318" ID="st18-101"/><SP/><String HEIGHT="28" CONTENT="at" WIDTH="20" HPOS="591" VPOS="318" ID="st18-102"/><SP/><String HEIGHT="28" CONTENT="the" WIDTH="35" HPOS="618" VPOS="318" ID="st18-103"/><SP/><String HEIGHT="28" CONTENT="continental" WIDTH="125" HPOS="660" VPOS="318" ID="st18-104"/><SP/><String HEIGHT="28" CONTENT="level" WIDTH="49" HPOS="792" VPOS="318" ID="st18-105"/><SP/><String HEIGHT="28" CONTENT="and" WIDTH="41" HPOS="848" VPOS="318" ID="st18-106"/></TextLine><TextLine HPOS="94" VPOS="350" ID="tl18-8" WIDTH="795" HEIGHT="28"><String HEIGHT="28" CONTENT="would" WIDTH="71" HPOS="94" VPOS="350" ID="st18-107"/><SP/><String HEIGHT="28" CONTENT="provide" WIDTH="85" HPOS="175" VPOS="350" ID="st18-108"/><SP/><String HEIGHT="28" CONTENT="greater" WIDTH="77" HPOS="270" VPOS="350" ID="st18-109"/><SP/><String HEIGHT="28" CONTENT="flexibility" WIDTH="104" HPOS="356" VPOS="350" ID="st18-110"/><SP/><String HEIGHT="28" CONTENT="in" WIDTH="22" HPOS="469" VPOS="350" ID="st18-111"/><SP/><String HEIGHT="28" CONTENT="coping" WIDTH="77" HPOS="500" VPOS="350" ID="st18-112"/><SP/><String HEIGHT="28" CONTENT="with" WIDTH="51" HPOS="586" VPOS="350" ID="st18-113"/><SP/><String HEIGHT="28" CONTENT="huge" WIDTH="55" HPOS="647" VPOS="350" ID="st18-114"/><SP/><String HEIGHT="28" CONTENT="macroeconomic" WIDTH="178" HPOS="711" VPOS="350" ID="st18-115"/></TextLine><TextLine HPOS="94" VPOS="381" ID="tl18-9" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="shocks" WIDTH="70" HPOS="94" VPOS="381" ID="st18-116"/><String HEIGHT="29" CONTENT="." WIDTH="12" HPOS="164" VPOS="381" ID="st18-117"/><SP/><String HEIGHT="29" CONTENT="Backed" WIDTH="81" HPOS="186" VPOS="381" ID="st18-118"/><SP/><String HEIGHT="29" CONTENT="by" WIDTH="28" HPOS="277" VPOS="381" ID="st18-119"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="12" HPOS="315" VPOS="381" ID="st18-120"/><SP/><String HEIGHT="29" CONTENT="renewed" WIDTH="95" HPOS="338" VPOS="381" ID="st18-121"/><SP/><String HEIGHT="29" CONTENT="European" WIDTH="111" HPOS="444" VPOS="381" ID="st18-122"/><SP/><String HEIGHT="29" CONTENT="Payments" WIDTH="108" HPOS="565" VPOS="381" ID="st18-123"/><SP/><String HEIGHT="29" CONTENT="Union" WIDTH="74" HPOS="683" VPOS="381" ID="st18-124"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="42" HPOS="768" VPOS="381" ID="st18-125"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="12" HPOS="820" VPOS="381" ID="st18-126"/><SP/><String HEIGHT="29" CONTENT="new" WIDTH="47" HPOS="842" VPOS="381" ID="st18-127"/></TextLine><TextLine HPOS="94" VPOS="413" ID="tl18-10" WIDTH="795" HEIGHT="29"><String HEIGHT="29" CONTENT="European" WIDTH="109" HPOS="94" VPOS="413" ID="st18-128"/><SP/><String HEIGHT="29" CONTENT="Investment" WIDTH="126" HPOS="213" VPOS="413" ID="st18-129"/><SP/><String HEIGHT="29" CONTENT="Bank" WIDTH="57" HPOS="348" VPOS="413" ID="st18-130"/><SP/><String HEIGHT="29" CONTENT="it" WIDTH="16" HPOS="414" VPOS="413" ID="st18-131"/><SP/><String HEIGHT="29" CONTENT="could" WIDTH="62" HPOS="439" VPOS="413" ID="st18-132"/><SP/><String HEIGHT="29" CONTENT="be" WIDTH="26" HPOS="511" VPOS="413" ID="st18-133"/><SP/><String HEIGHT="29" CONTENT="a" WIDTH="12" HPOS="546" VPOS="413" ID="st18-134"/><SP/><String HEIGHT="29" CONTENT="decisive" WIDTH="87" HPOS="567" VPOS="413" ID="st18-135"/><SP/><String HEIGHT="29" CONTENT="innovation" WIDTH="121" HPOS="663" VPOS="413" ID="st18-136"/><SP/><String HEIGHT="29" CONTENT="to" WIDTH="24" HPOS="793" VPOS="413" ID="st18-137"/><SP/><String HEIGHT="29" CONTENT="foster" WIDTH="63" HPOS="826" VPOS="413" ID="st18-138"/></TextLine><TextLine HPOS="94" VPOS="445" ID="tl18-11" WIDTH="230" HEIGHT="29"><String HEIGHT="29" CONTENT="stability" WIDTH="87" HPOS="94" VPOS="445" ID="st18-139"/><SP/><String HEIGHT="29" CONTENT="and" WIDTH="41" HPOS="187" VPOS="445" ID="st18-140"/><SP/><String HEIGHT="29" CONTENT="growth" WIDTH="76" HPOS="235" VPOS="445" ID="st18-141"/><String HEIGHT="29" CONTENT="." WIDTH="13" HPOS="311" VPOS="445" ID="st18-142"/></TextLine><TextLine HPOS="94" VPOS="1388" ID="tl18-12" WIDTH="30" HEIGHT="29"><String HEIGHT="29" CONTENT="44" WIDTH="30" HPOS="94" VPOS="1388" ID="st18-143"/></TextLine><TextLine HPOS="144" VPOS="1395" ID="tl18-13" WIDTH="153" HEIGHT="18"><String HEIGHT="18" CONTENT="Sapir" WIDTH="33" HPOS="144" VPOS="1395" ID="st18-144"/><String HEIGHT="18" CONTENT="," WIDTH="7" HPOS="177" VPOS="1395" ID="st18-145"/><SP/><String HEIGHT="18" CONTENT="Financial" WIDTH="65" HPOS="188" VPOS="1395" ID="st18-146"/><SP/><String HEIGHT="18" CONTENT="Crisis" WIDTH="39" HPOS="258" VPOS="1395" ID="st18-147"/></TextLine><TextLine HPOS="799" VPOS="1398" ID="tl18-14" WIDTH="29" HEIGHT="11"><String HEIGHT="11" CONTENT="ipg" WIDTH="29" HPOS="799" VPOS="1398" ID="st18-148"/></TextLine><TextLine HPOS="833" VPOS="1394" ID="tl18-15" WIDTH="56" HEIGHT="21"><String HEIGHT="21" CONTENT="1/2009" WIDTH="56" HPOS="833" VPOS="1394" ID="st18-149"/></TextLine></TextBlock></PrintSpace></Page></Layout></alto>