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has forced all EM central banks to reconsider their reserve holdings in light of this new fact. Reserves should not be subject to sanctions risk from the perspective of EM reserve managers, for whom reserves are a nation’s safety net that should by definition should be “risk-free”. “...
but such a period played a major role in creating the homogeneous Wausau they now [1994] consider the norm. After the turn of the century [i.e. 1900], immigration caused a social upheaval in Wausau. Back then the Germans and the