Ground and pound

FD FINANCE and DEVELOPMENT www.imf.org/fandd March 2009 s o a’ s c ian in sisti sti u Ch i e Al Cr m sSo Dor th t ow Hru G Crisis Prophet Roubini Profiled Trade Finance Dries Up Getting Regulation Right Reshaping the World Economy Finance & Development, March 2009 Crisis Stalls Globalization MFIEA2009001 Finance & Development is published quarterly in English, Arabic, Chinese, French, Russian, and Spanish by the International Monetary Fund. English edition ISSN 0015-1947 EDITOR-IN-CHIEF

în scopuri comerciale a oricărei părţi din această publicaţie. DISCLAIMER This publication is the outcome of the experience gained within the European Institute of Romania during the process of translating and revising the acquis communautaire. The proposed translation conventions and solutions may be modified before the publication of the Community acts by the Office for Official Publications of the European Communities. This publication or any part of it may not be reproduced for profit.

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through the gate this morning at 7:30 and I can see it from across the lot: the crimson Mercedes. It's parked beside the plant, next to the offices. And it's in my space. Who else would do that except Bill Peach? Never mind that the whole lot is practically empty at that hour. Never mind that there are spaces marked "Visitor." No, Bill's got to park in the space with my title on it. Bill likes to make subtle statements. So, okay, he's the division vice-president, and I'm just a mere plant manager. I guess

because this crisis is deep-rooted, systemic and persistent. But, in spite of that, the industry has been here before, in that biotech companies have overcome seemingly insurmountable challenges in the past, bucking trends and defying odds.“ Glen T. Giovannetti and Gautam Jaggi, Ernst & Young Global Biotechnology Center To our clients and friends As the shockwaves from the global financial crisis rippled across the world economy in late 2008 and 2009, they left little untouched. The reverberations

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her future neighbour. C. The police arrested the person that was presumed guilty. D. Why did you greet that woman whom you don’t know? 11) A. She wished her mother could help her. B. They wish they could be of some help. C. He wishes her happiness and joy. D. Ann did a lot of wishingful thinking when she was young. 12) A. Who told you to come here? B. I said her that I didn’t love her anymore. C. They tell to me to shut up. D. Story-telling is one of my grandfather’s gifts. 13) A. She used to listen