Policy Quotes - page 83
Both the existence of these parallels and their tragic nature would not have escaped Charles Kindleberger, whose World in Depression, 1929-1939 was published exactly 40 years ago, in 1973. Where Kindleberger's canvas was the world, his focus was Europe. While much of the earlier literature, often authored by Americans, focused on the Great Depression in the US, Kindleberger emphasised that the Depression had a prominent international and, in particular, European dimension. It was in Europe where many of the Depression's worst effects, political as well as economic, played out. And it was in Europe where the absence of a public policy authority at the level of the continent and the inability of any individual national government or central bank to exercise adequate leadership had the most calamitous economic and financial effects.
Barry Eichengreen
I say that there are two systems of policy to apply to the management of what is commonly called the Eastern question, but which resolves itself into the geographical question, namely, the possession of that site which commands the empire of the world-the city of Constantinople. There is that school of opinions which I call British opinions, advocated by the noble Lord the Leader of this House (Lord J. Russell) and the noble Lord the Secretary of State for the Home Department (Viscount Palmerston), who believe in the vitality of Turkey, that it may remain an independent and even a progressive country, and form a powerful and sufficient barrier against the encroachment of Russia. There is the other school, which I call the school of Russian polities, that believes that Turkey is exhausted; that all we can do is, by gradually enfranchising the Christian population, to prevent, when its fall takes place, perfect anarchy, and contemplates the possibility of Russia occupying the Bosphorus.
Benjamin Disraeli