Argentinas Foreign Debt Restructuring Essay Example | Topics and Well Written Essays - 4750 words

Argentinas Foreign Debt Restructuring - Essay Example This paper envisages analyzing the causes and effects of the actions of the political leaders that left to this situation and the circumstances under which the various classes of creditors of the country were forced to accept the proposals put forth by the Argentine president for the settlement of the outstanding debts of the country. It is important to understand the extent, scope, and coverage of the definitions of the foreign debt and domestic debt before a meaningful financial analysis of the restructuring of the foreign debt by the country Argentina may be undertaken. According to an economic definition, â€Å"foreign debt is only the debt by non-residents, regardless of whether the debt is in local or foreign currency, whether it is issued at home or abroad. Conversely, domestic debt is debt by residents regardless of whether the debt is in local or foreign currency, whether it is issued at home or abroad. So a Brady held by an Argentine resident is domestic debt while a Let's held by a foreign investor is foreign debt.† It is to be understood that the economic definitions of foreign debt and domestic debt are different from the legal definition as had been adopted by the Argentine government for the purposes of undertaking the restructuring of both the domestic and foreign debts. The domestic debt is defined as debt issued according to Argentine law, regardless of whether it is in local or foreign currency and regardless of who, foreign or domestic resident, is holding these claims. Conversely, the â€Å"legal† definition of foreign debt is debt issued according to foreign (New York, UK, et cetera) law, regardless of whether it is in local or foreign currency and regardless of who, foreign or domestic resident, is holding these claims.†The point to consider was that was there a possibility that the host of factors that facilitate the litigation would disrupt the orderly process of debt restructuring undertaken by Argentina. Without committing a technical default Argentina would be going ahead with the process of structuring and even if some creditors hold out and start litigating, the litigation would take several years for coming to a close. Even if the litigation is started it is not going to hamper the process of the debt restructuring by Argentina.   

Report -- financial investment Essay Example | Topics and Well Written Essays - 1000 words

Report -- financial investment - Essay Example he company stood at 39,848 Million, which included 4,135 Million liquidity which is a good prospect for a shareholder as the company has good available liquidity. The company also has enough cash to pay off its short term liabilities. The company had a good prospect to pay off its short term and current liabilities. The sales of the company was spread all over the world and carried less amount of bad debts which also gave strength to its debtors turnover. The current ratio of the company is 1.44, with current Assets amounting to 12,571 and current liabilities 8,756. The company has a substantial cover over its current liabilities and has enough current assets to overcome the current liabilities. The industry’s average current ratio is 1.08, which gives an indication that Pepsi is well off compared to the other companies. The company carries 8,759 quick assets to cover current liabilities worth of 8,756 which gives a quick ratio of 1. (Co.) The current assets of the company amount to 17,551 while the current liabilities stand at 13,721. It makes the current ratio stand at 1.28. This specifies that the company has adequate current assets to pay off their current obligations. (Stock-Analysis, 2010) However, the quick assets make up 12,971 of the current assets which are less than the current liabilities. This may create difficulty for the company when it pays off its current liabilities. (Cola) The profitability ratios, i.e. the Return on Assets and the Return on Equity for the company amount to 14.92% and 35.38% respectively. (Stock-Analysis) The similar rations for the industry stand at 4.14% and 11.9% respectively which gives Pepsi Inc an upper hand as it has utilized its assets and equity very efficiently. The company generated a Return on Assets and Return on Equity equal to 14.72% and 27.52% respectively which is well over the industry norms. The company generated a profit of 6,824, which is 1,000 more than the profit of the company last year and 800

External and Internal Environment Audit of Stenders Essay - 1

External and Internal Environment Audit of Stenders - Essay Example The paper tells that the management of the Stenders has decided to enter the UK market. They are eyeing to open franchisee retail stores in London considering the prospect of the market. The social demand for body and face cosmetics and beauty products is increasing significantly in London. Moreover, a favourable technological environment will help the management of the organization to enhance its manufacturing, distribution, selling and promotional practices. Availability of skilled and low-cost suppliers and supply chain option can influence the management to develop and implement unique strategies in business operation process. recent financial crisis and economic environment affected the purchasing power of people. Therefore, it can affect the overall business output of Stenders in London. Apart from this, too much intense market competition can make it difficult to develop potential customer base initially. Strict employment and environmental regulations and legal policies can b e considered as significant external challenges for the organization. Moreover, the intense market competition and strict entry lawsuits can help the management of Stenders to face a limited threat of new entrants. Huge market competition and availability of differentiated and substitute products can increase the threat of bargaining power of the consumers. Stenders has both internal strengths as well as weaknesses. Strong brand name, high customer loyalty, potential customer base across the globe and significant international business diversification strategy can be considered as the major internal strengths of the organization. Affective product differentiation strategy and strong financial also can be considered as one of the important strengths of the organization. Apart from this, the organization has developed the decentralized decision-making model that enhance efficient and quick strategy development and decision-making process.

Citigroup Crisis Management and Continuity Plan Essay

Citigroup Crisis Management and Continuity Plan - Essay Example The economic crisis in the recent years had a significant impact over the nation thus impacting the businesses of the Citigroup as well. The current research focuses on the responses of the organizational group to the economic crisis and to learn the concepts and use of business management continuity plans in the process. Citigroup and the Global Economic Recession: The global economic recession that hit the United States in the late 2008 and thereafter the entire world affected the nation’s gross domestic product, led to unemployment, decrease in purchases, and decline in investments (U.S. Economic Downturn Worsened at End of 2008, 2009). Root Cause of the Recession leading Citigroup to a Crisis Situation: With the enhancement of the economic slowdown in the United States, the Citigroup started getting affected and was encountered with the crisis of recession. One of the major crises that led to the crisis in the Citigroup was the decline in the demand level among the custome rs. When a financial slowdown was prevailing in the United States, people tended to invest less and save their funds. When the nation was encountered with the decline in the economic growth, customers feared the failure or lack of performance of the different companies that included Citigroup as well. With scarcity in the availability of funds in the economy of the country customers started saving and stopped investing or lending to the company that ultimately led to a crisis for the company (Beek, 2010; Cochrane, 2010, p. 34). Thus the two primary reasons that could be reflected as the root causes for the crisis in the Citigroup are the economic slowdown in the United States followed by the change in the customer outlook and behavior towards fearing the failure of companies to overcome the global crisis, leading to huge declines in the levels of demand. Citigroup before the Crisis: Before the global recession had hit the United States, Citigroup had been successfully performing its activities. Several innovative strategies have been encouraged within the group. Also, with greater expansion plans the company created several job opportunities (Our commitment is our promise, 2006). The year 2007, which was before the economic crisis, the company reflected positive results with respect to its international consumer related performances, wealth management at an international level, as well as operations of services in its different business divisions. However, the results for the banking and marketing segments of the group were not satisfactory. Too much of lending and written down values might have led to such a condition for the group. The revenue generation was thus affected although the customer growth was increasing. The volume of products and the operating expenses of the group also started rising from the previous years. Credit costs for the financial sector of the group also increased (Citigroup’s 2007 Annual Report on Form 10-K, 2007). Citigroup du ring the Crisis: During the global economic slowdown, the Citigroup suffered huge losses that primarily occurred as a result of increasing costs of credits and the intensifying economic recession. Inflation and increasing levels of unemployment, that were resultant from the global econom

Discussion post Essay Example | Topics and Well Written Essays - 250 words - 10

Discussion post - Essay Example Diabetes therapy involves non-pharmacological and pharmacological interventions that include physical exertion (suitable exercises and work), functional feeding, self-monitoring of blood glucose, and use of medications (Napierała, Maik & Żukow, 2011). DSME (Diabetes self-management education) plays a significant role in the care and management of diabetes. Support through technology is associated with feedback on progress and change in behavior for example, use of text messages to serve as reminders to monitor blood glucose (Prescott & Boggs, 2014). Inclusion criteria of selecting the sample for the research are correct because it describes the specific individuals included in a research (Holloway & Wheeler, 2013). The quasi-experimental design is appropriate for the research because it involves participants of an intact group that is separated into two groups, which are given two different interventions. Literature review assists in the development of research questions (Brown, 2014). I agree with Liya Varghese on the discussion about the prevalence of developing a surgical site infection in a period of 30 days after a surgical process. During a surgical procedure, a patient’s skin is prepared by applying antiseptic in circles starting with the area of the incision. The most common agents used for surgical processes include chlorhexidine gluconate, iodophors, and alcohol substances (Gangi, Guth & Guermazi, 2009). Purposeful sampling used in the research is guided by the motivation of the investigation but not statistical calculations. The quasi-experimental design is appropriate because it includes a comparison and a control group in a research. The literature review will help to relate how the current research connects to other investigations (Jackson, 2015). nursing, sport, tourism, recreation and protection of human health =: Wybrane problemy

Employment and Trade Unions Essay Example for Free

Employment and Trade Unions Essay Throughout the study I have tried with the best of my capacity to accommodate as much information and relevant issues as possible and tried to follow the instructions as you have suggested. I tried my best to make this report as much informative as possible. I sincerely believe that it will satisfy your requirements. I however sincerely believe that this report will serve the purpose of my course (Industrial Relation). I am grateful to you for your guidance and kind co-operation at every step of my endeavor on this report. My effort will be reworded only if it adds value to the research literature. Introduction One of the major functions of human resource management is to maintain smooth industrial relations (IR). It is also treated as one of the oldest functions of HRM. It is basically allied with the relations between the employer and the workers in the industry (Singh Kumar, 2011: 3). According to Weeratunga (2003:5) Industrial Relations or Labor Relations, the terms used interchangeably, can be viewed as the interaction between the various interested parties involved in employment. The employer and the employee are obvious parties. The state, in ensuring a level playing field for both sides, provides the legal framework within which such relations may take place. In industrial relations, workers are generally represented by their trade unions formed under chapter 13 of Bangladesh Labor Act2006 whereas employers are represented by their associations such as Bangladesh Employers Federation. HR managers mediate the relationships between workers and employers though they are appointed by the representatives of employers. Another related term is Employee Relations. Though both the terms industrial relations and employee relations are structurally similar (Decenzo Robbins, 1999: 18), employee relations includes, in addition to industrial relations, such aspects as participative management, employee wellbeing, employee development, employee compensation, employee protection and health, and the like (Aswathappa, 2008:534). Generally industrial relations cover the areas such as trade unions, collective bargaining, settlement of industrial disputes, grievance handling procedure, role of government, labor laws, courts and tribunals and role of employers. In the context of developing countries, industrial relations has been influenced by features such as high exploitation of workers, low level of worker participation in decision making, government and political interferences, high rate of illiteracy of workers, low level of employment, low level of awareness among the laborers regarding rights, laws, and trade unionism, and low labor productivity (Khan Taher, 2008: 222-23). Industrial relations plays an important role in establishing and maintaining industrial democracy (Monappa, 2004: 9) and it is the key to improve productivity in industrial enterprises (Aswathappa, 2004: 534). Human resource management can play vital roles in enhancing cooperative and friendly industrial relations. In Bangladesh, collective bargaining on pay between employer and workmen is prohibited in the public sector enterprises as the government designs uniform pay and benefits for the employees of all public sector enterprises (Mahmood, 2008). The limited scope of collective bargaining in the public sector of Bangladesh influences the trade unions to develop network with government, political parties and other powerful bodies in organizing their activities. It hinders effective interactions between the representatives of employers and workers at enterprise level. Though performance based pay is considered to have significant impact on employee performance (DesslerVarkkey, 2010: 15), it is not at all practiced by the public sector enterprises in Bangladesh. As a result, public sector enterprises in Bangladesh have been incurring huge losses. On the other hand, all types of collective bargaining takes place at enterprise level in case of private sector enterprises (Khan, 1996). Mahmood (2008) mentioned that the industrial relations process in the private sector was often disturbed by links between private and public sector unions. Objectives: a) To explore the differences between public and private sector industrial enterprises of Bangladesh with respect to overall status of IR. b) To put forward policy implications of overall improvement in IR of Bangladesh. Industrial Relations Studies in Bangladesh Khan (1986) studied industrial relations in Bangladesh with special emphasis on trade unionism. †¦ Trade Unions Trade Union is an organization of workers who have banded together to achieve common goals such as protecting the integrity of its trade, achieving higher pay, increasing the number of employees an employer hires, and better working conditions. An organized association of workers in a trade, group of trades, or profession, formed to protect and further their rights and interests. A group of employees in a particular sector, whose aim is to negotiate with employees over pay, job security, working hours, etc. using the collective power of the members. The most common purpose of these associations or unions is maintaining or improving the conditions of their employment. Causes of organizing trade unions Provision of benefits to members: professional training, legal advice and representation for members is still an important benefit of trade union membership. Industrial action: Trade unions may enforce strikes or resistance to lockouts in furtherance of particular goals. Political activity: Trade unions may promote legislation favourable to the interests of their members or workers as a whole. To this end they may pursue campaigns, undertake lobbying, or financially support individual candidates or parties. Conditions of employment and any grievances — are settled through trade unions. Bargaining rights: Trade unions bargain and ensure the status, rights, wages and demands of workers of the modern world of industry. Contribution in economical growth: Trade unions are growing rapidly in an economy because of the expansion of business and economical growth. Objectives Trade unions are the only way to manage, compliant, and control the labour force. Lots of objectives are there to organize trade unions. . To defend or improve the wages and working conditions of workers and to bring about a change in the economic order. 2. To strengthen their (labour) bargaining power collectively to establish and achieve all their rights. 3. To dully protect all other interest of the workers . And from the managements point of view the objectives as written: a) To reduce the number of negotiation. b) To specify work rules, disagreements and grievances to give the better solution to workers claim. c) To establish the efficient communication between the employers and management to enforce the predictable standards. ) To enhance the overall organizational effectiveness workers can also be sometimes inspired to form and organize trade union. In fact, objectives of a trade union are not defined; rather these are changing according to the need of the economy and overall industry. When these objectives are not settled then the rivals are started History of Trade Unions The Pakistan Period (1947-71) -The East Pakistan Trade Unions Act, 1965 was enacted repealing the Trade Unions Act, 1926. -The Labor Disputes Act, 1965 was enacted. -Industrial Relations Ordinance, 1969 was enacted integrating the above two Acts. Bangladesh Period (1971-onwards) -Government of Bangladesh declared a labor policy in 1972. The right to strike and collective bargaining in the nationalized industries was prohibited for six months by Presidential order no. 55 in May 1972. -In 1973, the right to strike and lockout, as granted by IRO, 1969 was withdrawn. -In 1974 Act completely suspended the democratic rights of workers by prohibiting trade union activities such as strikes, lock-outs, collective bargaining. -The military regime of 1975 imposed restrictions on the rights of collective bargaining. The Industrial Relations (Amendment) Ordinance, 1977 liberalized the Rights of Freedom of Association -The Labor Policy of 1980 restored the right to freedom of association to a considerable extent -In 1982 the military regime banned trade union activities, strikes, and right of freedom of association. Limitations In Bangladesh Trade Unions have a lot of unavoidable problems: 1. Lack of consciousness: Trade union are not actu ally completely aware about employees legal rights and duties. 2. Lack of Unity: In Bangladesh trade unions are separated for political influence. 3. Lack of knowledge: The workers of Bangladesh dont have enough knowledge about their rights and duties. 4. Political influence: In Bangladesh, trade unions work a part of political parties not as a free right saving association. 5. Division of trade union: Bangladesh is a country where every organization has more trade unions in name only. The overall productivity got down. Suggestions Strengthening bilateral collective bargaining for solving problems quickly and effectively. Multiplicity of trade union creates the rivals in a union. So it must be reduced. Political involvement must be reduced. Organization must support financially as trade unions support the worker. Training programs under trade union should be helpful to develop the skills of the workers. Trade unions function should be increased and widened throughout the organization. Union leader must be given importance and encourage the members. If trust between workers and management increases, productivity increases. Management must help and guide trade unions to settle industrial clashes and crisis. Trade unions always should demand reasonable thing to the management. . What is a dispute? Academically speaking, industrial dispute refers to any conflict between employees and employers, between employers and employers and between employers and employees. †¢ But in reality, dispute is understood as the conflict between employees and employers. There are three types of Disputes : †¢ Disciplinary disputes †¢ Grievance disputes †¢ Industrial disputes †¢ According to Industrial Dispute Act, 1947, Industrial dispute means any dispute or difference between employers and employers, or between employers and workmen, or between workmen and workmen, which is connected with the mployment or non-employment or terms of employment or with the conditions of labour of any person. Causes of Industrial Disputes: Some of the prominent causes of industrial disputes may be listed thus: Employment: The list here includes disputes over wages, allowances, bonus, benefits, working, condition, unjust dismissals, retrenchment of workers, methods of job evaluation, changes in methods of production, non-implement of awards of tribunals, etc. The National Commission on Labor remarked â€Å"though on majority of occasions industrial disputes were based on claims pertaining to the terms and condition of employment, sometimes economic issues of a general character dominated and, on occasion, purely motives†. The causes of industrial disputes can be broadly classified into two categories: economic and non-economic causes. The economic causes will include issues relating to compensation like wages, bonus, allowances, and conditions for work, working hours, leave and holidays without pay, unjust layoffs and retrenchments. The non economic factors will include victimization of workers, ill treatment by staff members, sympathetic strikes, political factors, indiscipline etc. Wages and allowances:  Since the cost of living index is increasing, workers generally bargain for higher wages to meet the rising cost of living index and to increase their standards of living. In 2002, 21. 4% of disputes were caused by demand of higher wages and allowances. This percentage was 20. 4% during 2003 and during 2004 increased up to 26. 2%. In 2005, wages and allowances accounted for 21. % of disputes. Personnel and retrenchment:  The personnel and retrenchment have also been an important factor which accounted for disputes. During the year 2002, disputes caused by personnel were 14. 1% while those caused by retrenchment and layoffs were 2. 2% and 0. 4% respectively. In 2003, a similar trend could be seen, wherein 11. 2% of the disputes were caused by personnel, while 2. 4% and 0. 6% of disputes were caused by retrenchment and layoffs. In year 2005, only 9. 6% of the disputes were caused by personnel, and only 0. 4% were caused by retrenchment. Indiscipline and violence:  From the given table, it is evident that the number of disputes caused by indiscipline has shown an increasing trend. In 2002, 29. 9% of disputes were caused because of indiscipline, which rose up to 36. 9% in 2003. Similarly in 2004 and 2005, 40. 4% and 41. 6% of disputes were caused due to indiscipline respectively. During the year 2003, indiscipline accounted for the highest percentage (36. 9%) of the total time-loss of all disputes, followed by cause-groups wage and allowance and personnel with 20. 4% and11. % respectively. A similar trend was observed in 2004 where indiscipline accounted for 40. 4% of disputes. Bonus:  Bonus has always been an important factor in industrial disputes. 6. 7% of the disputes were because of bonus in 2002 and 2003 as compared to 3. 5% and 3. 6% in 2004 and 2005 respectively. Leave and working hours: Leaves and working hours have not been so important causes of industrial disputes. During 2002, 0. 5% of the disputes were because of leave and hours of work while this percentage increased to 1% in 2003. During 2004, only 0. % of the disputes were because of leaves and working hours. ? Miscellaneous:  The miscellaneous factors include   Ã‚   Inter/Intra Union Rivalry   Ã‚   Charter of Demands   Ã‚   Work Load   Ã‚   Standing orders/rules/service conditions/safety measures   Ã‚  Ã‚  Ã‚   Non-implementation of agreements and awards etc. Collective Bargaining Collective bargaining includes not only negotiations between the employers and unions but also includes the process of resolving labor-management conflicts. Thus, collective bargaining is, essentially, a recognized way of creating a system of industrial jurisprudence. It acts as a method of introducing civil rights in the industry, that is, the management should be conducted by rules rather than arbitrary decision making. It establishes rules which define and restrict the traditional authority exercised by the management. Importance to employees ? Collective bar aining develops a sense of self respect and responsibility among the employees. It increases the strength of the workforce, thereby, increasing their bargaining capacity as a group. Collective bargaining increases the morale and productivity of employees. It restricts management’s freedom for arbitrary action against the employees. Moreover, unilateral actions by the employer are also discouraged. Effective collective bargaining machinery strengthens the trade unions movement. The workers feel motivated as they can approach the management on various matters and bargain for higher benefits. It helps in securing a prompt and fair settlement of grievances. It provides a flexible means for the adjustment of wages and employment conditions to economic and technological changes in the industry, as a result of which the chances for conflicts are reduced. Importance to employers 1. It becomes easier for the management to resolve issues at the bargaining level rather than taking up complaints of individual workers. 2. Collective bargaining tends to promote a sense of job security among employees and thereby tends to reduce the cost of labor turnover to management. 3. Collective bargaining opens up the channel of communication between the workers and the management and increases worker participation in decision making. 4. Collective bargaining plays a vital role in settling and preventing industrial disputes. Importance to society: 1. Collective bargaining leads to industrial peace in the country 2. It results in establishment of a harmonious industrial climate which supports which helps the pace of a nation’s efforts towards economic and social development since the obstacles to such a development can be reduced considerably. 3. The discrimination and exploitation of workers is constantly being checked. 4. It provides a method or the regulation of the conditions of employment of those who are directly concerned about them.

Irish Writing Nation And Imagination William Butler Yeats English Literature Essay

Irish Writing Nation And Imagination William Butler Yeats English Literature Essay Born William Butler Yeats in 1865, this poet can be regarded as the greatest poet of Irish Literature. As the child of protestant parents, Yeats was brought up in a time of political turmoil, during the rise of Charles Stuart Parnell, the civil war and the Irish Revival. Yeats began his literary livelihood early, at just aged twenty years, when his first work was published. It must be noted that Yeats was an unusual poet, as he defied any common expectations in relation to the climax in a poetic career; unlike many, Yeats career reached its heightened peak late in life, between the ages of 50 and 75. Perhaps due to this unusual aspect of Yeats history as a poet, his poetry evokes a changing nature. Yeats literature oscillates between the 19th and 20th centuries and thus, Yeats can be regarded, stylistically, as quite a unique poet. In the early years of Yeats poetry, he drew heavily upon Irish myth and folklore, while his later work dealt with much more contemporary issues. Yeats work shifts from the heavily ornamental, fantasy-driven early poems to the fascination with Irish myth and legend, which matured into the concerns of the Celtic Revival and the embrace of distinctly Irish culture. As an older but still unmarried man, he became more interested in contemporary social issues, though he never lost sight of the history which informed them. Late in life, his marriage revived his interest in mystical matters, accompanied by a burst in creative imagination, best exemplified by the gyres of A Vision and The Second Coming. (Website 2) Personally, Im someone who likes to resist the notion of dividing Yeats work into categories of early and late poetry. However, I acknowledge that many things have certainly influenced Yeats style and nature as a poet and as a result, upon the examination of the changing nature of his poetry, I find it necessary to do so. As a young poet in the 1880s, Yeats began to write in the romantic style. Such literary pieces followed the structure and conventions of romantic poetry, including rhyming schemes and metric patterns. His poems were lyrical, mystical and romantic in style, and he placed a key emphasis on love, loss and loneliness, and Irish myth and folklore. It could be suggested that his early poetry pieces were odes to the beautiful and mystical land of Ireland. It can be said that there are certain qualities of Yeats poetry which are significant to his early works. During an interview with James Flannery, Flannery expressed his love for the early poems of Yeats with their lyricism, their yearning for transcendence and their deployment of haunting imagery drawn from Celtic folklore as well as mythic and mystical sources and the sheer magic of the music in early Yeats:   the long, wavering breath-lines, the delicately syncopated rhythms, the lingering vowels and consonants, again directly carried over from Gaelic poetry and song.(Website 2) Published in 1893 in Yeats second book of poems The Rose, The Lake Isle of Innisfree is a prime example of this yearning for transcendence. This lyrical poem expresses Yeats desire to escape from the pavements gray and to elope to a small cabin built there. The poet is wistful and passionate as he yearns for escape to this idyllic location and through his use of imagery and tone he suggests this. The sheer music of the tranquil and peaceful hideaway is created by the hexameters which recreate the rhythmic pulse of the tide. (S. notes) The simple imagery of the quiet life the speaker longs to lead, as he enumerates each of its qualities, lulls the reader into his idyllic fantasy, until the penultimate line jolts the speaker-and the reader-back into the reality of his drab urban existence: While I stand on the roadway, or on the pavements grey. (Spark notes) To Yeats, tradition is oral, the continuity of voice from generation to generation (Yeats, Denis Donoghue) Always in his work he sought to recreate the half-conversational quality which was another legacy of the Gaelic tradition in singing, the recitation of poetry and in daily speech.(Web 2) One can clearly see Yeats voice to the ordinary people in an ordinary language in Lake Isle of Innisfree. Yeats, himself, once said, Think like a wise man but communicate in the language of the people. (WB Yeats) The language elicits an almost conversational quality and by using phrases such as I will, I hear, and I stand, the poets explicit thoughts can be understood by the people, even if only the first layer of meaning is understood. Personally, I feel that this is one reason to why Yeats is regarded as one of the greatest Irish poets; his poems appeal to the ordinary. The Second Coming is one of Yeats later poetry works. It was written in 1919 and it deals with the contemporary issues associated with the aftermath of First World War. Yeats believed that art could serve a political function: poems could both critique and comment on political events, as well as educate and inform a population.(Web 1) The Second Coming subtly includes the idea of Irish nationalism. In this poem, a sense of cultural crisis and conflict seeps through, even though the poem is not explicitly about Ireland. By using images of chaos, disorder, and war, Yeats engaged in an understated commentary on the political situations in Ireland and abroad. Yeats active participation in Irish politics informed his poetry, and he used his work to further comment on the nationalist issues of his day. When compared to one of his earlier works, such as Lake Isle of Innisfree, even on the basis of topic, one can see that Yeats poetic career has evolved and flourished. A continuous use of such techniques of imagery and symbolism remain to be seen throughout Yeats work. However, the main development in his work can be said to be his development in theme and topic. This contemporary poem has many vivid images such as that of seas of blood and drowning, all in which reflect the aftershock effects of the war. Blood- dimmed tide and Ceremony of innocence is drowned. Yeats is picturing in this poem a society turned upside-down and headed toward self-destruction and chaos.(Website 1) In contrast to the romantic and lyrical poems of the early W.B. Yeats, through examination of the use of imagery only, this poem deals with a much more serious and universal issue; one of brutality and loss of life. A shape with lion body and the head of a man(The Second Coming) offers no sense of personification or love in which one could be drawn to, but instead one is repelled as one feels this creature coming closer to us, like death. This offers a contrast to Yeats early poetry as this is quite the opposite to that of a warming and lyrical poem. Unlike Lake Isle of Innisfree, the reader is not offered a sense of hope or escape; in this poem, a sense of doom lingers. As Yeats grew, as a poet and an individual, he acquired relationships with the Irish Republican Brotherhood, Irish National Theatre, Irish Literary Society, and indeed, Maud Gonne. Yeats evolved as a romantic poet and his focus was shifted from mythical odes to contemporary politics. This manifested a distinct political theme, as seen in The Second Coming, in Yeats poetry during this time in his writing career. It could certainly be said that the beautiful, Irish patriot and revolutionary Maud Gonne, was a key inspiration for Yeats early literary works. When Yeats met her for the first time in 1889, he fell in love with her immediately, but, unfortunately, she did not return his love. It could be suggested that because of his love for the politically active Maud Gonne, Yeats devoted his energy, in the early years of his career, to the Irish Revival and Irish Patriotism. Finally and most significantly, Yeats relationship with the changing nature of literature in the early twentieth century resulted in the development of Yeats as a modern writer. As a poet, he learned and incorporated modernist styles and conventions into his own poetry. Yeats was influenced by the modernist structure and form and their aggressive engagement with contemporary politics. Modernist poets challenged the previous literature traditions and they rejected the idea that poetry should be lyrical and admirable. Ultimately, modernist literature had a distinct influence on Yeats and his work and from examination of his poetry, his work from this period in his career can be described as edgier and more concise. A significant change overcame Yeats poetry as regards tone and style, but he never discarded the conventions of his earlier poetry. In conclusion, I think that a changing nature is evident in Yeats poetry, and I feel that this has made him become the highly admired and regarded poet that he is today. This unique aspect of Yeats poetry makes his literature interesting and enticing, and thus, Yeats is one of my favourite Irish writers. As I have explored in this essay, there are many possible reasons for this change in poetic nature but ultimately, in my opinion, life experience is truly the reason behind the metamorphosis of Yeats poetry. As with most of us, life became more and more complex for Yeats as he matured.   But the greater the obstacles he faced, and the more cruel and destructive the losses he suffered, so, in a miraculous way, grew Yeats imaginative power and his ability as a poet to give sublime expression to all that he experienced.   (Web 2)