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The interrelationship between consciousness and sensuality is a significant problem in many philosophical systems. The peculiarities of religious philosophy consists in the congruence of using argumentation with the basic religious dogmata, which are unchangeable and uncritiqued. This aspect, in turn, stimulates the development of exegetics and hermeneutics. In comparison with the Western philosophy, the particularity of Indian and Buddhist philosophy infers a larger quantity of polemical materials directed against the representatives of other competing schools. This article discusses the formation of the concept of "sensuality" in various Buddhist schools (Theravāda, Sarvastivāda, Madhyamaka) and the mutual conditionality of the sensual and mental (nāma-rūpa) in the conceptions of Theravādins and Sarvastivādins is noted. The peculiarities of using the terms "Hīnayāna" and "Hīnayānist" in Mahāyāna texts are explained. The representatives of Theravāda and Madhyamaka distinguished the terms of "clear sense" and "hidden sense", which, in turn, led to the appearance of the concept of "two truths" in Nāgārjuna's philosophy. The particularities of his argumentation regarding sensuality's absence of self-nature (rūpa) and his analysis of the various aspects of reality (including illusions, perceived as real ones) make it possible, which Nāgārjuna could admit, that consciousness could be more real in comparison with sensuality. It is concluded that there are no clear statements by Nāgārjuna about consciousness having an ontological status. In the author's opinion, the absence of a clear division between "two truths" makes it possible to use this concept in social practice. The author's translation to Russian of one of Nāgārjuna's hymns "The praising of inconceivable" (Acintyastava) from Sanskrit and from Tibetan is provided.

The European Central Bank (ECB) has recently launched several initiatives in order to integrate climate-related actions under its monetary policy and banking supervision tasks. The ECB 'going green' has sparked debate among legal scholars and central bankers. What has been left untouched, however, is how climate-related action relates to the current organizational structure within which the ECB executes its two main tasks. The SSM Regulation has installed a Chinese Wall between these matters, which have to be conducted in 'complete separation' from one another. This article questions this structure in the light of the ECB's climate-related efforts. What are the implications of climate change and the ECB's climate-related actions for the interrelationship between monetary policy and banking supervision? The consequences of climate change are likely to be omnipresent, and will produce effects reaching far beyond specific policy areas. In such a context, the ECB could benefit from more coordination and monitoring of what is decided under each task instead of carrying them out in isolation from each other. It will be argued that climate-related action has triggered an coordinative evolution within the ECB, leading to and more awareness on how monetary policy and banking supervision are inherently intertwined.

Die vorliegende Dissertation besteht aus sechs Kapiteln und trägt zur Forschung in den Bereichen der Finanzmarktpolitik und der Geldpolitik bei. Das zweite Kapitel zeigt die Wechselbeziehung zwischen Geldmarktanspannungen und der Stabilität des Finanzsystems auf. Mittels der theoretischen Literatur werden verschiedene Einflussfaktoren einer aggregierten Liquiditätsnachfragefunktion präsentiert. Das dritte Kapitel untersucht den Informationsgehalt der Ergebnisse der Hauptrefinanzierungsgeschäfte für den europäischen Geldmarkt. Unsere Ergebnisse zeigen, dass sich seit der Finanzkrise der Informationsgehalt der Hauptrefinanzierungsgeschäfte in zweierlei Hinsicht verändert hat. Im vierten Kapitel untersuchen wir die Wirksamkeit der Geldpolitik während der Finanzkrise europäische Geldmarktzinssätze zu steuern. Die Ergebnisse deuten auf eine erhebliche Divergenz zwischen den Zinssätzen und den Erwartungen über die zukünftige Geldpolitik hin. Weiterhin finden wir heraus, dass die unkonventionellen Maßnahmen der EZB für einen Rückgang der Euriborsätze von bis zu 60 Basispunkten verantwortlich sind. Das fünfte Kapitel beschäftigt sich mit der Funktionsweise des besonderen geldpolitischen Instrumentariums der Schweizerischen Nationalbank. ; This dissertation consists of six chapters which contribute to research in the area of financial and monetary economics. The second chapter reveals a mutual interrelation between money market tensions and the stability of the broader financial system. In line with recent theoretical contributions, I find many determinants that shape the aggregate liquidity demand. In the third chapter, the relation between the ECB's main refinancing (MRO) rates and the money market is investigated. Our findings suggest that MRO auction outcomes exacerbated the disconnection of money market rates from the policy-intended interest rate level in the period after August 2007. The fourth chapter studies the effectiveness of monetary policy in steering euro area money market rates during the crisis. The analysis shows a significant deviation of money market interest rates from the central path of monetary policy expectations after August 2007. Additionally, our analysis implies that the ECB's net increase in outstanding open market operations as of October 2008 accounts for a decline in Euribor rates by more than 60 basis points. The fifth chapter explores the working and the consequences of the SNB's unique operational framework for the behavior of Swiss term money market rates before and during the financial crisis. ; 147 S.

The contemporary realization of the importance of international progress in the economic and social fields, and particularly the development of the less-developed countries, has added a new dimension to foreign policy and resulted in vast foreign aid programs. Chief factors in this development are the unprecedented acceleration in population growth occur ring primarily in the less-developed countries least able to sus tain it, the "revolution of rising expectations," and Communist penetration. In addition to an increase in financial and tech nical assistance to the less-developed countries, the free world, building on strength, must emphasize that the purpose of eco nomic development is a social objective and that the methods used to promote development cannot be divorced from the overriding social objective without destroying the objective itself. Development planning should aim at balanced economic and social growth and stress economic programs with an early social impact in terms of improved levels of living, and social programs designed to further economic growth.

The article provides a retrospective analysis of the development of political relations between Japan and Russia from the middle of the XIX century to the present. The international relations have a nearly three-hundred-year history that reflects various periods of recession and recovery, stability and tension. There was and is a diplomatic struggle of states for financial strength, influence on the world stage, standing up for the national interests in the territorial issue, etc. But despite such moments, these relations did not go beyond the boundaries of "peaceful". Russia and Japan, as strong players in the Pacific region, have always understood the need for cooperation and have looked for it in political, economic and cultural formats. At the present stage relations between Japan and Russia include different areas: security, economy, culture, science. But the unsigned amicable agreement, which has been delayed for more than 70 years, does not provide ample opportunities for further development of productive mutually beneficial relations. Through the "prehistory" of modern bilateral relations between Russia and Japan, the sequence and nature of relations between the countries is determined. The key aspect that determines the sequence and nature of relations between countries is the historical connection. The material of the article is ranked by time periods (stages), the factors that influenced each of the stages are investigated, and the main problems of the relationships are determined. Special emphasis is placed on the problems of our times, in particular the territorial issue of the Southern Kuril Islands, which were formed historically. Today the relations are based on solving common problems in the economy, security and energy. Within the framework of common interests Japan and Russia are seeking to resolve a long-running dispute. Thus, the article consistently reveals the "prehistory" and the nature of modern bilateral relations. The stages and factors that influenced each of the stages are studied, the corresponding conclusions and forecasts are made.