Greek Debt Crisis Essay Online For Free - Free Essay Example

Sample details Pages: 8 Words: 2351 Downloads: 1 Date added: 2017/06/26 Category Economics Essay Type Cause and effect essay Did you like this example? Introduction This paper will examine the social welfare and economic implications of the recent 2015 referendum on Greek bailout conditions offered by the ECB and IMF, starting with and examination of the history behind the crisis, the resulting series of financial bailouts along with the conditions imposed and their economic and social welfare ramifications, and the potential irrelevancy of the recent 2015 referendum on the actual outcome of the negotiations. The Background to the Greek Debt Crisis The Greek debt crisis essentially started in late 2009, after economic reports about the Greek governments current deficit and debt levels made clear that the Greek government had deliberately under-reported their current deficit and financial situation in 2008 and 2009, with the deficit at the end of 2009 estimated independently at 12.5% of Greek GDP, twice the amount reported by official Greek governmental figures during that time (Simitis, 2014). These issues were further exacerbated by the revelation that Greek sovereign debt exceeded the 91.4% of Greek GDP previously reported, and actually stood at 126.8% of total Greek GDP due to a number of debts and liabilities within the Greek public sector that had been over-looked during the previous reports issued by the Greek Ministry of Finance (Simitis, 2014). These discrepancies in reporting raised serious concerns over Greeces ability to accurately report its current financial situation, and the resulting sovereign debt ratio of 12 8% of GDP raised serious questions over the governments ability to meet its current financial obligations (Ardagna and Caselli, 2014). The results of the revelations, occurring during the aftermath of the recent global financial crisis, led to a downgrading of Standard and Poors credit rating of Greece to BB+, a rating which indicates a significant possibility of default on borrowing (Standard and Poor, 2015). This caused the interest rates of 5 year bonds issued by the Greek government to rise to 5.385% in November 2009, a figure 1.42% higher than the average rate of all other similar Euro-zone government bonds during that time (Simitis, 2014). This also occurred at a time where the Greek government was running a significant structural deficit, with governmental spending at 53.2% of GDP, and public revenue of only 37.8% (Ardagna and Caselli, 2014). In other words, only further borrowing would be able to sustain the current level of Greek public services, borrowing which had just be came exponentially more expensive to maintain. Given the developing crisis in the Eurozone, the European Central Bank (ECB) chose to step in and offer assisted bailouts and loans using funds appropriated from other EU member states and the IMF (Baimbridge and Whyman, 2014). To this end, the Commission, the ECB and the IMF established the European Financial Stability Fund (EFSF, 2015). The EFSF issued a bailout loan of à ¢Ã¢â‚¬Å¡Ã‚ ¬110bn in 2010 to the Greek government, which came with the condition that tight austerity measures be put into place, including a number of cuts across a broad spectrum of public services and a series of tax increases to boost governmental revenue (Ardagna and Caselli, 2014). Similar conditions were given to other recipients of bailout loans from the EFSF, including Ireland and Portugal, who as of 2014 have successfully reduced their national debt levels and current account deficit to that specified by the bailout conditions (Baimbridge and Whyman, 20 14). However, the Greek government was hit with a further recession in 2011, with GDP growth contracting by 9.6% in the 4th quarter of 2010, and then a further 10.4% fall in the 1st quarter of 2011 (World Bank, 2015). The continuing economic problems faced by Greece were due to a number of factors, including a severe fall in revenue from both tourism and shipping due to the global economic crisis, two of Greeces most important industries, and significant discrepancies between total taxes owed and total tax revenue, with total tax income in 2012 being à ¢Ã¢â‚¬Å¡Ã‚ ¬51.99bn, against the expected à ¢Ã¢â‚¬Å¡Ã‚ ¬110.79bn as reported by a State Audit Council report (Argitis and Nikolaidi, 2014). These conditions meant that Greece was unable to continue to meet its financial obligations in 2012 and again faced the possibility of sovereign debt default, requiring another bailout loan to be made by the EFSF of another à ¢Ã¢â‚¬Å¡Ã‚ ¬130bn, with additional conditions attached that requir ed Greece to cut public spending by a total of à ¢Ã¢â‚¬Å¡Ã‚ ¬3.3bn by the end of the year, followed by further cuts of à ¢Ã¢â‚¬Å¡Ã‚ ¬10bn by the end of 2013, and again in 2014 (Ardagna and Caselli, 2014). Don’t waste time! Our writers will create an original "Greek Debt Crisis Essay Online For Free" essay for you Create order The Ramifications of the Imposed Bailout Conditions The austerity measure conditions that were included as conditions on the two separate bailout loans to the Greek government were met with strong resistance from the Greek populace, and a number of anti-austerity demonstrations and riots occurred throughout the country in 2010, 2011 and 2012 (Simitis, 2014). The public reactions to the suggested austerity measures have been suggested to be responsible for the Greek governments delay in more fully and efficiently implementing the necessary austerity measures and tax collection reforms necessary to close the gap between public spending and revenue (IMF, 2014). Despite the social and economic issues resulting from the Greek populaces resistance to the bailout conditions, in 2014 the Greek economy appeared to be on the road to recovery, with improved economic performance and growth across the Eurozone driving recovery in both the tourism and shipping industries, and the achievement of a structural surplus, mainly due to a series of s tringent cuts to governmental spending and public services, including the closure of the state-owned broadcasting company ERT (IMF, 2014). These improved economic conditions allowed Greece to once again issue government bonds on the private equities market since the initial bailout had been implemented, allowing the Greek government a much-needed source of finance to cover any future spending gaps, with Greek government-issued 5 year bonds being traded at interest rates of 4.95% in mid-April of 2014, at their lowest rates since the start of the 2009 debt crisis (IMF, 2014). An early parliamentary election was called in late 2014 after the current parliament was unable to vote in a new President for the 2015-2020 term with a parliamentary majority (Ardagna and Caselli, 2014). The Syriza party, which had been highly vocal in recent years about their lack of support for the austerity conditions imposed on Greece by the IMF and ECB, won a near majority and formed a coalition with a m inority right-wing party in order to have the Syriza party leader Alexis Tsipras elected to the Presidential position. Upon gaining office, Mr Tsipras stated his refusal to respect the current bailout conditions imposed by the EFSF, with the intent of renegotiating more favourable terms (Ardagna and Caselli, 2014). The ECB and IMF responded by suspending any and all aid payments to Greece until either the existing deal was upheld or a new mutually-acceptable deal was agreed upon. The resulting uncertainty caused significant economic and social upheaval within the country; the Athens stock exchange experienced its worst loss in total value in the following week since the 2011 recession, while interest rates of Greek bonds rose sharply in the private market, eventually reaching a peak of 24.19% in early June, severely reducing the newly-established governmental ability to raise finance in the private equities market (Dellas and Tavlas, 2013). The resulting economic uncertainty caus ed a run on Greek banks, where customers were desperate to withdraw all their cash to protect against the risk of a banking industry collapse, which ironically severely increased the likelihood of such a collapse occurring (Mankiw and Taylor, 2014). In response to this socio-economic panic, the government issued a series of capital control measures that restricted the current opening hours of Greek banks while only allowing daily withdrawals of à ¢Ã¢â‚¬Å¡Ã‚ ¬60 from personal accounts either through the bank or ATM (The Economist, 2015a). The government also placed restrictions on foreign transactions and foreign currency trading, to prevent Greek investors from transferring their funds to a currently more stable currency. However, these measures only served to deepen the social welfare issues within the country, as the number of foreign imports dropped dramatically due to the restrictions placed on foreign transactions, including in a number of key areas such as medical equipmen t, medication, food and farming materials, leading to severe social welfare issues during the negotiation period (The Economist, 2015b). The 2015 Referendum After a series of negotiations with the ECB and IMF that failed to reach agreement on the conditions of a new deal, Mr Tsipras, the Greek President, called for a public referendum on the proposed conditions put forward by the ECB and IMF in the latest meetings of June 25th. The announcement was made on June 26th, with the referendum to be held on the 6th of July (The Economist, 2015c). This is an incredibly short length of time to ruminate on a complicated issue, one which could have profound effects for the social, political and economic future of ones country. The referendum paper itself also does not contain any details on the June 25th proposals, it merely asked whether the respondent is willing to accept them or not in a straightforward Yes or No ballot (The Economist, 2015c). Mr Tsipras, who campaigned for the No vote, listed those proposals during his campaign, including a controversial suggestion to raise taxes on tourism-related income that was later retracted by the ECB o n June 26th, the day Mr Tsipras called the referendum (The Economist, 2015c). Despite the public excitement surrounding the referendum itself, it is clear that the referendum was a tool that would have failed to provide a welfare maximising outcome regardless of the result. As Arrow (1950) notes, it is impossible for a ranked-order voting system with three or more options to provide a welfare-maximising solution that satisfies three criteria of fairness; first, that each individual holds a set of ordinally-ranked preferences that do not change with the introduction of alternative options; that the final outcome should satisfy the majority of voters; and that no one individual has dictatorship power over the vote. While the referendum at first appears to be a ranked order voting system with only two options, which would negate the relevance of Arrows Impossibility Theorem, the options themselves are not clearly defined. The majority No vote of 61.3% (BBC, 2015) merely rejected a s pecific set of conditions which were already irrelevant and out-dated at the time of the referendum. The results did not indicate whether those voters wish to accept different conditions, or to exit the Eurozone altogether, suggesting that there were more than two reasons for choosing one of the options that voters were inherently unable to express. Thus, those who voted No while expecting it to lead to a Greek exit from the Eurozone or a rejection of all further austerity measures would be ultimately disappointed. The referendum was also biased in terms of Arrows (1950) fairness criteria in one major way; there was indeed one individual with dictatorship power over the vote itself. The referendum results were merely used to gather public opinion on an out-dated bailout condition offer; the results were not legally-binding, and in the event of a Yes vote Mr Tsipras would still be free to return to the negotiating table and attempt to renegotiate further with the ECB and IMF (The Economist, 2015c). The referendum was clearly used as a means for Mr Tsipras to gain leverage during negotiations in the case of a No vote, potentially to imply that Greek voters would support withdrawing from the Eurozone altogether if necessary, though as noted those voters would end up disappointed along with the rest who voted against further austerity measures, as despite the referendum results Mr Tsipras agreed to a further à ¢Ã¢â‚¬Å¡Ã‚ ¬86bn bailout from the EFSF on the 14th of August, with 4 main conditions to the deal: a structural surplus of 3.5% of GDP to be met by 2018; a series of pension system reforms intended to cut public sector pension spending ( a condition with serious social welfare implications for the elderly and retired); reforms to labour and product markets to increase competitiveness; and a series of banking sector reforms intended to recapitalise the private banking sector (Wearden and Fletcher, 2015). Conclusion The 2015 Greek Referendum bailout conditions referendum was never capable of offering a welfare-maximising solution for voters; in fact, it barely offered any social, political or economic solution at all. Voters rejected a set of conditions that had already been altered at the time of the referendum, and were subsequently presented with a new bailout deal containing further harsh austerity measures such as cuts to public pension funding. It is doubtful whether the results of the referendum actually offered Mr Tsipras additional leverage in subsequent negotiations, but it is clear the Referendum results had little impact beyond this meagre measure References Ardagna, S and Caselli, F (2014), The Political Economy of the Greek Debt Crisis: A Tale of Two Bailouts, American Economic Journal: Macroeconomics, Volume 6, Issue 4, pp291-323 Argitis, G and Nikolaidi, M (2014), The Financial Fragility and the Crisis of the Greek Government Sector, International Review of Applied Economics, Volume 28, Issue 3, pp273-291 Arrow, K (1950), A Difficulty in the Concept of Social Welfare, Journal of Political Economy, Volume 58, Issue 4, pp328-346 Baimbridge, M and Whyman, P (2014), Crisis in the Eurozone: Causes, Dilemmas and Solutions, 1st Ed, London: Palgrave-MacMillan BBC (2015), Greece debt crisis: Greek voters reject bailout offer [Online], Available; https://www.bbc.co.uk/news/world-europe-33403665 Dellas, H and Tavlas, G (2013), The gold standard, the euro, and the origins of the Greek sovereign debt crisis, CATO Journal, Volume 33, Issue 3, pp491-520 Economist, The (2015a), How Capital Controls Work [Online], Available; https://www.economist.com/node/21656439 Economist, The (2015b), Greeces Economy Under Banking Controls: When Banks Die [Online], Available; https://www.economist.com/node/21657000 Economist, The (2015c), How Greeces referendum works [Online], Available; https://www.economist.com/blogs/economist-explains/2015/07/economist-explains-2 EFSF (2015), About EFSF [Online], Available; https://www.efsf.europa.eu/about/index.htm IMF (2014), IMF Country Report No. 14/151: Greece, New York: International Monetary Fund Mankiw, G and Taylor, M (2014), Macroeconomics, 2nd Ed, London: W H Freeman Simitis, C (2014), The European Debt Crisis: The Greek Case, 1st Ed, Manchester: Manchester University Press Standard and Poor (2015), Ratings Criteria [Online], Available; https://www.standardandpoors.com/en_EU/web/guest/ratings/ratings-criteria/-/articles/criteria/governments/filter/all Wearden, G and Fletcher, N (2015), Eurozone finance ministers agree to third Greek bailout as it happened [Online], Available; https://www.theguardian.com/business/live/2015/aug/14/greek-bailout-vote-and-eurozone-gdp-growth-figures-live-updates#block-55ce5ef8e4b076bafa06f640 World Bank (2015), World Development Indicators: Greece [Online], Available; https://data.worldbank.org/country/greece

The Need for Tougher Prisons Essay examples - 1452 Words

The purpose of the prison system was meant to be a deterrent to crime, as a preventative measure and to those who have already committed crimes, it is supposed to keep them from coming back. Obviously this did not work, today there are overcrowded jails and courts that look to any other way to punish a criminal besides jail time. The other options do not work either, they have not reduced the prison population nor have they created a sort of fear of being punished that a tougher system might do(Faugeron 5). I think the prison system should be made tougher, and that the alternatives to prison be used in cases where the crime was very small and the criminal would benefit from some other form of punishment than prison. If the criminal has†¦show more content†¦The thought behind these views is that being able to change how a person thinks while they are behind bars will mean that you can change how they see the world and thus make them see that there is more to it than violent b ehavior. I dont know if all prisoners could be converted into thinking this, but some are capable and I think it is worth the effort if you can teach people that there is more to life than violence. I dont think they would be changed by the notion that performing community acts as a just punishment for every crime, however. This theory is rather nave, but it is trying to show people how inmates should be treated if there is to be any hope of rehabilitation. The prison system needs to be based on giving the criminal one impression, the only way I am going to be able to get out of this is by getting paroled. There are as many as 3.2 million adult males under parole or probation, 1 out of 24 adult men is on some form of correctional supervision(Palmer x foreword). Programs within the justice system have a higher percentage of positive outcomes than do programs categorized as nonsystem diversion, probation/parole/community corrections.(Palmer 24). The point being that the people who had some type of structured environment where they did lose something. I think that the loss of someone you love, and the loss of privacy and your happy normalShow MoreRelatedCriminal Justice Systems And Its Effect On Parole Board1711 Words   |  7 PagesCritical analysis , was also conducted to different issues, thus; Victorian government tougher sentencing on crimes to implement â€Å"law and order†, overcrowding prison, PSOs, mandatory sentencing, statistics approach, Meagher rape case and impact on parole board. Johnston Ainsworth( 2014) article, observation on the debate at parliament house, Victoria Premier Dr Napthine, introducing new legislation, tougher sentencing to respond to major Crimes, perceived present sentencing is too lenientRead MoreTheu.s. The Three Strikes Law857 Words   |  4 Pages. I do not think, so I need to change anything in my current problem from the HCP to AP. 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But African Americans are 1 in 3, Latinos are 1 in 6, and whites are 1 in 17 who will be in prison during their lifetime. A topic that is also important and affects the United States dramatically is the an nual cost which is 81 billion. The main reason for people getting incarcerated is because of drugs, so 1 in 5 people are incarcerated for a drugRead MoreA More Punitive Justice System1092 Words   |  5 PagesLastly, a more punitive justice system would cause overcrowding within our justice system, making a more detrimental environment for the offenders to live in. The purpose of prisons should be to rehabilitate offenders and prepare them to reenter society. Rather, what prions are doing is locking inmates away in atrocious environments, making them live with less resources and less space to function. This is not a suitable environment for any human being. Cook Roesh (2012) contend that, â€Å"double-bunkingRead MoreRemodeling American Sentencing : A Ten-Step Blueprint For Moving Past Mass Incarceration796 Words   |  4 Pagespast Mass Incarceration,† the author shows how imprisonment is harsher and tougher in the United States than any other western country. He also me ntions how unfair, severe and ineffective they are on reducing crime rates; and mentions changes in the sentences in the future. Tonry states that the United States locks up seven to ten times more of its citizens than other western countries, or that many states spend more on prisons than on education (Tonry 504). So what the country did to the rise of crimeRead MoreAnalysis Of Orange Is The New Black 1134 Words   |  5 Pageswith Taystee for ending up back in prison after being released. Taystee attempts to explain herself by claiming that prison is easier than attempting to live a normal life after prison. Poussey smacks Taystee and angrily states that her mom passed away while she was in prison and she wasn’t there to say goodbye so Taystee has no reason for walking back into prison â€Å"because freedom was inconvenient.† To this Taystee responds by sincerely claiming that life after prison is â€Å"some kind of joke†; in the realRead MoreGANG VIOLENCE A ND HARSH PENALTIES1465 Words   |  6 Pagesevil people cause crime and some are just born naturally evil (Elias, 1994). â€Å"Instead of the â€Å"revolving door,† we need more draconian penalties, including the death penalty: the only language the â€Å"savages† and â€Å"monsters† among us understand† (Elias, 1994, 5). Media had delivered this false idea that harsh penalties would decrease violent crimes which pushes politicians to make tougher laws. During Reagan and Bush presidency, they implemented get-tough policies against crime that resulted in hash punishment

Ethics and American Counseling Association free essay sample

A paper discussing the ethical issues from a video that discuss cases that are regarding barter, boundaries crossing and violation, touching, receiving and giving gifts, and termination of care. We will write a custom essay sample on Ethics and American Counseling Association or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The ACA code of Ethics and Michigan States Rules and Regulation for Professional Counselors on the ethical issues of barter, boundaries crossing and violation, touching, receiving and give gifts, and termination of care are summarized. My feelings toward the cases that were discussed in the video regarding the ethical issues and topics of barter, boundaries crossing and violation, touching, receiving and give gifts, and termination of care are address. I also summarize what action I will take to make sure that I correctly implement proper Michigan States Rules and Regulation and the ACA Code of Ethics into my practice when it comes to the issues and/or topics of barter, boundaries crossing and violation, touching, receiving and give gifts, and termination of care. Summary The first part of the video is talking about dual relationship and it begins with how barter with a client could lead to trouble. The ACA, APA, and NASW views on dual relationship and barter with a client are explained and how each of the codes knows how common it is for barter. Each of the codes all use the provisory only if†, meaning its okay to barter with a client only if you attend to such issues as exploitation, commonality in the community and cultural sensitivity. † Also it explains boundary crossing and boundary violations and how they differ from each other. This part also states that how to differ a boundary violations to an unfortunate mistaken clinical judgment. The discussion of sexually relationship with a client is also explored and how it is a boundary violation. The second part of the video is a discussion about accepting and rejecting a gift from a client. Although there is no boundary violation it could affect the clinical relationship if you reject the gift. There is also no clear code on give gifts to clients. Some counselors see giving clients gifts for celebration such anniversary, graduation, birth of a child as gestures that could support or/and strengthen the therapeutic relationship but some counselors might see those gestures possibly complicating the therapy. The issue of touch is also discussed in this part of the video In the third and fourth part of the video the issues that arise at the beginnings and endings of treatment is discussed. A few questions that answer are, â€Å"When and how does the professional relationship actually begin? When and how can it end? What should you be aware of ethically and legally at the start and finish of treatment? † The first part is to understand how to terminate therapy in a proper way. It’s important to focus on how treatment is terminated and not the why it’s terminated. It’s important to make sure that if appropriateness of termination is every question that a clinician keep good records that show you handle termination issue, did proper referrals, treatment records were made available and finally follow-up consultations was offered. It’s also discussed the importance of understanding HIPAA and your state laws when it comes to client records. It was also made important that you have professional will that in event of your death that you should not leave your clients abandon. The professional will needs to name a professional executor and the expectation you have for him or her. When it comes to Michigan State Law for Rules and Regulation for bartering, dual relationship and standard of care and termination, I was referred to the ACA guidelines for an understanding. From my research I understand that Michigan following the ACA guidelines when it comes to addressing these issues. There was no particular statue Michigan rule or regulation and all inquiries on the issues were linked back to the ACA guidelines. The American Counseling Association states in section A-10D, counselors may barter only if the relationship is not oppressive or harmful and doesn’t give the counselor an unfair benefit. Only if a client requests it and the arrangements are an accepted practice among other professionals then the counselors should reflect on the cultural implications of bartering. The counselor should also discuss relevant concerns with the client and document the agreement in a clear written contract. (American Counseling Association, 2005) The American Counseling Association in Section A-5D entitled, Potentially Beneficial Interactions, when a counselor-client, has a non-professional interaction with the client or previous client that maybe a potentially benefit to the client or previous client. The counselor should document in case records prior to the interaction, also should document when practical rationale for the interaction, the potential benefit and anticipated consequences for the client or former client and other individual significantly involved with the client or former client . The interactions should be initiated with proper client consent. (American Counseling Association, 2005) The American Counseling Association in Section A. 11. c. entitled,† Appropriate Termination,† a counselors can terminate a counseling relationship when it becomes reasonably perceptible that the client no longer needs assistance, is not likely to benefit, or is being harmed by the continued counseling. Counselors may also terminate counseling when in jeopardy of harm by the client, or another person with whom the client has a relationship or when clients do not pay fees as agreed upon. Counselors should provide pre-termination counseling and recommend other service providers when necessary. (American Counseling Association, 2005) Response My response to the video is that I have a lot of researching to do when it comes to barter. I have always had a big heart and need to make sure that I understand the boundary violations and boundary crossing. Sometimes it’s very hard to not cross the professional relationship and it’s easy to make unethical mistakes. Even in the situation discussed in the video, it will cause some professional to make a mistake which could be detrimental to their career and client-therapy relationship. When it comes to accepting and/ or rejecting gifts, we have to know the culturally acceptance of it. From the cases discussed in the video, I can understand the dilemma. Each person has to be understanding of each individual client relationship and how gifts would benefits or harm the relationship. My response to the standard of care and termination of a relationship is in total agreement. I do believe that there should be a professional will so in case of unfortunate death or disability that way clients are still being serviced. When it comes to termination, all efforts should be documented and pre-termination counselors should be offered as a way to transition from treatment. Action The most important thing for me to do is to make sure that I have a clear and concise understanding of the topics from ACA code of ethics. Since most of Michigan rules and regulation refer me to the ACA, it would be the best tool to understand any issues that could arise. Also, I want to make sure that my client and I have a verbal, written, and documented agreement when it comes to gift acceptance and rejections. I have to make sure that a professional will is made once I start a clientele, so my clients won’t feel abandon if an unfortunate event happens.

Ancient World The National Gallery of Victoria Depict

Question: Write an essay on Ancient World. Answer: The things that were there in the National Gallery of Victoria depict the fact that the Egyptian believed in afterlife. There are things of daily use, such as earthen pots, clippers and combs that people could use in their day-to-day life. The presence of these things reveal the fact that there was believe, of after life, among the Egyptians, although the inscriptions that are there could reveal more, if It could be read properly. The way the human beings are depicted in the gallery shows that the Egyptian had the capability of two dimensional figure, and the women in the sculpture, looks, as if lots of calculation has been made before it has been constructed. The hands and the legs are of same dimension and the lower of the portion of the body is little rectangular in shape, and this particular shape is followed everywhere, even in case of the palm of the hand. Thus, it can be said that the Egyptians are calculative when they are depicting human figures. The attic red figure ware represent a scene, according to the information provided in the gallery, it could be the war that took place between Achilles and Agamemnon and thus it has the figure of two warrior, and the warrior, on the left side is young. There are the beautiful uses of the colors and the story has been depicted picturesque way. Along with the female figure, there is the picture of the female, the Thetis and Eos. Thus, this particular picture de picts a lot about Greek mythology. The sculpture, or the male athlete body of Torso, is being regarded as the copy of the sculpture originally made by sculptor Poykleitos, mainly because one important reason. The reason is that the original figure made by Poykleitos depicts that the male body is balancing a spear on the left shoulder. In case of Torso, the weight is there on the right leg and the left leg is slightly behind, which refers to the fact that since the left arm is bearing the spear therefore, a large amount of body weight was there on the right leg. The five words that could define this particular figure are, Beautifully Crafted Artistically Male Deity. Comparison can be made between Torso and the Cambodian male deity KHMER, because the upper portion of this figure is naked and at the same time the right arm, in this case has cracks. The figure of KHMER although, is an ornate figure unlike the figure of Torso. The head of Septimius Severus had some curly hairs and a huge beard, which but these two things are in great contrast with the smooth texture of his face. The eyes although, are quite interesting, since the eyes are not only the eyes of a person rather it is a gaze, and it arise the question that may be it is not the whole sculpture, but a part of it, where, the whole sculpture might have revealed that person, towards whom, the eyes are gazing. The figure of Behnessa, Bust of a woman and the figure or rather the head of head of Vespasian, both these figures are rigid and at the same time, it gives a look that is somber and serious. The head of Vespasian contains creases and lines on the forehead and on the other hand, the figure of Behnessa is expressionless. Interestingly some parts of both these sculptures are missing and thus, lots of thing remains unknown to those, who come and have a look at these sculptures. The head of Vespasian, with all its creases and lines depicts a person who has both knowledge and experience. Thus, the three words that could be used to describe the figure is RIGID Experienced Face. Medieval The fact that the Reliquary casket, France Limoges, is something that is meant to keep the relics is known from the structure of the casket. The structure of the casket is that of a church, which reveals the fact that something religious is associated with it, along with the structure, another important thing is the use of the bright colors that could attract anyone, and the casket depicts the figure of Christ, who is surrounded by everyone. The Stained glass, of France, depicts the use of bright colors and it depicts the theological story of St. Stephen, being crowned by Pope Sylvester II. The glass painting includes a circular part, which is there most of the time in the Gothic Churches and it can be the part of a complex window structure in the churches. The glass painting contains two figures, one side there is the figure of the woman and on the other hand, there is the figure of the man. Both the figures are holding a shield together; the shield has a picture of a bird, which could be an emblem. Renaissance The painting Madonna with Child by Agnolo Gaddi is a picture that depicts Jesus the Child, and her mother, who is there along with the Apostle or the pilgrims. The picture has the crown of thorns, which equivocal the future, when Jesus had to wear that crown at a time when he was crucified. The cloth that the child was clutching would later become that cloth with which Mary would wiped her eyes. The important feature of this painting is that this painting has the gloomy and the somber look, which is similar to the Gothic images of the age. The figure is the royal image of the Virgin Mary, who became the Queen of Heaven and she is holding the child Jesus on her lap. The figure is different from the painting of Madonna with Child, because first of all that is an altarpiece and there, Virgin Mary has a somber look and it resembles the figure of a saint. In sculpture, the figure of Virgin Mary is the figure of an authority. The adoration of the Magi, depicts the commemoration of the child Jesus and during the process, no law has been violated. There has been use of the bright colors in the paintings that depicts the whole story in a beautiful way. Unlike other sculptures and paintings of Christ, this particular painting has neither the Apostle nor the followers crowding, nor is he going through the last pain of being crucified. He is here sitting upright over a block, although the reminiscence of pain is there on his face. The exhibition of Chinese Art depicts the golden age of China, where the bronze and other use of metal depicts the fact that during that era art and culture has grown in China and at the same time, it reveals the fact that there was the influence of Lord Buddha in the country. The piece of art that is fascinating is the sculpture of Lord Buddha, in bronze, and that gives a royal look to the sculpture. The sculpture of Buddha depicts a Lord, who has serene look and the four hands and the gives both the royal and the divine look to the sculpture.