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" ... Draghi made two very clear points on Thursday. The most important, and one that has been hammered at time and time again by the ECB president, is that governments must request the bailout and accept conditionality. This clearly puts the onus of action on Spain and Rajoy. The second is that verbal intervention has proven to work miracles for central banks. Europe continues to muddle through after Draghi bought them some time. They better take advantage of the relative calm, it may be their last chance. ... "
" ... Grace. A gift without strings that we pass along to others, and in doing so, we help others and, in turn, help ourselves. Grace is the ability to give generously, to forgive readily, to show mercy, and to love without conditionality. Grace lubricates living. ... "
" ... The IMF endorsed the Argentine central bank’s $60 million a day currency auctions to limit the number of pesos in the market starting mid-April. There is some conditionality to these auctions, however, meaning the IMF is fine with them so long as “the currency is more appreciated than the central bank’s non-intervention” target rate. ... "
" ... We see Fellows take on side projects and/or reimagine their roles to better fit their own interests and skills, as well as the evolving needs of their team or company. They often adapt the nature of their work to create more value for their organization’s current reality. For example, one Fellow recognized that the data infrastructure she was asked to build wouldn’t be relevant to the organization for another five years, with lots of conditionality in the interim about whether it would ever be useful. With the help of peer group insight and expert mentoring, she developed a staged approach to data analysis, beginning with what the organization could manage immediately, followed by six- to twelve-month stages toward the ultimate goal that the team could work toward. This stepwise approach is more resilient, recognizing the mutability of the organization’s context, and ensuring that they could make progress even if the ultimate goal shifted or became more distant. ... "