Übersetzung für "perturbation aléatoire non observable " (Französisch → Englisch) :

213. Notices that, more generally, the sustainability of projects is often in doubt due to the limited administrative capacity, the delayed adoption of relevant texts and the uncertainties over the future funding on the part of the beneficiaries;

In the light of China’s new rules in religious matters that took effect on 1 March this year, they are exposed to a wave of random government repression, including cruel disturbances of services, hefty fines, arrests, destruction of private houses and beatings or reprimands along the lines of ‘teachers cannot believe in Christianity’.

With respect to the concerns you have on financial information that CATSA is not in a position to disclose, I want to make some comments, although I do understand that the original problems that you had at the May 7 meeting with respect to the IBM contract on random screening of non-passengers were sufficiently answered by CATSA earlier this week.

It should also be noted that were the scope of this measure to be confined solely to preventing market disruption, the legal basis would need to be changed and a measure based on the EC Treaty and defining the disruption to the market concerned would need to be submitted.

The Directive also includes rules for payment systems which are not based on netting but on gross settlement systems (where each payment order is settled individually on a real time basis as it arises during the day): The proposed Directive would also exempt payment systems from national rules giving retroactive effect to the insolvency of a participant in a payment system, such as the zero-hour rule. Such retroactive effect allows the liquidator of an insolvent institution to challenge payment orders which have already been introduced into the payment system, thus leading to the unwinding of the settlement operation. This unwinding is highly disruptive and can lead to systemic risk. The same is true for revocation of payment orders. Revoca ...[+++]tion of a large payment order in a payment system during the settlement process, could lead to systemic risk. The Directive would therefore bar revocation of payment orders after the moment contractually fixed by the payment system participants. The insolvency of a participant in a payment system, insofar as it concerned its dealings with the payment system, would be governed by the insolvency law of the country where the payment system was located, according to the proposed Directive. This would avoid conflicts of law and the ensuing legal uncertainty and thus facilitate cross-border participation in payment systems. Collateral security is pledged by the participants in a payment system in order to secure its exposures against the other participants. When collateral security is provided in a cross-border arrangement, its realisation in case of default of the pledging participant can be hindered by conflicts of law which may either weaken the collateral security or even render it unenforceable. In order to ensure collateral security can be realised immediately and in priority over all other creditors (so as not to jeopardise the liquidity of the other participants in the system, i.e. to avoid systemic risk) in the case of a defaul ...

We must also refer to the comment by Keynes who noted the consumption of the well-to-do classes of his time in 1930 and predicted that 'in less than a century' - which bring us up to the present time - we would work three hours a day or fifteen hours a week, allocated according to no fixed rule, and wondered how to prevent mass nervous depression in societies made listless through affluence.