The US Dollar, the Euro, and the Yen: An Evaluation of Their Present and Future Status as International Currencies

The process of European integration and especially the introduction of the euro as the single currency for up to now 12 member countries of the EU in 1999 may alter the existing clear currency hierarchy. The euro area is comparable in size to the US with respect to GDP and even exceeds the US regarding the share in world trade. Thus questions arise of whether the international monetary system turns out to be bipolar in the long run or whether the yen can also play its part. It turns out that real activity, size and sophistication of financial markets, monetary and financial stability and inertia are the most prominent characteristics making a currency to be preferred on a world-wide level. We thus conclude that the integration and the development of European financial markets are of special importance for a stronger international role of the dollar, but that the historical experience of only gradually changing supremacy of international currencies still applies

The International Reform Agenda: Unfinished Business

The two years since the Asian crisis have seen quite a bit of rethinking. Over time, there has been a growing acceptance that – whatever the mistakes and deficiencies of domestic policy – the problem was wider in scope: something was wrong with the international financial framework. If the crisis could be distilled down to two principal elements, it was the fatal interaction of huge and volatile international capital flows, with fragile domestic financial sectors. It would be nice to be able to report that the international community has now worked out what needs to be done, and is on the way to doing it. In practice, there is som

Adolescent Premature Ovarian Insufficiency Following Human Papillomavirus Vaccination

Three young women who developed premature ovarian insufficiency following quadrivalent human papillomavirus (HPV) vaccination presented to a general practitioner in rural New South Wales, Australia. The unrelated girls were aged 16, 16, and 18 years at diagnosis. Each had received HPV vaccinations prior to the onset of ovarian decline. Vaccinations had been administered in different regions of the state of New South Wales and the 3 girls lived in different towns in that state. Each had been prescribed the oral contraceptive pill to treat menstrual cycle abnormalities prior to investigation and diagnosis. Vaccine research does not present an ovary histology report of tested rats but does present a testicular histology report. Enduring ovarian capacity and duration of function following vaccination is unresearched in preclinical studies, clinical and postlicensure studies. Postmarketing surveillance does not accurately represent diagnoses in adverse event notifications and can neither represent unnotified cases nor compare incident statistics with vaccine course administration rates. The potential significance of a case series of adolescents with idiopathic premature ovarian insufficiency following HPV vaccination presenting to a general practice warrants further research. Preservation of reproductive health is a primary concern in the recipient target group. Since this group includes all prepubertal and pubertal young women, demonstration of ongoing, uncompromised safety for the ovary is urgently required. This matter needs to be resolved for the purposes of population health and public vaccine confidence

Intersections, networks and the genesis of social complexity on the Nyali Coast of East Africa

This paper examines intersections between different societies occupying the Nyali Coast region of southern Kenya from the late first millennium ad to the mid-second millennium ad. We explore interaction between societies at three scales: between hunter-gatherers and farmers in the coastal hinterland, between the hinterland and the coast and between the coast and the wider Indian Ocean. The patterns indicate that local intersections in the hinterland between hunter-gatherers and farmers went hand-in-hand with both the emergence of larger settlements in the hinterland and on the coast, and participation in a pan-Indian Ocean trade network