An Investigation into the Link between UK Credit Union Characterisitics, Location and their Success

The unique characteristics of credit unions reduces the information asymmetry that is prevalent in credit making decisions, enabling them to provide loans where other financial institutions cannot. This makes them a potential tool in the fight against financial exclusion. Yet, the UK credit union movement is not regarded as being successful, even though there is evidence of much financial exclusion. This study is cross sectional in form, and evaluates characteristics that may contribute to the success of the UK credit union movement at national and regional level, in 2000. The findings are used to consider the impact of recent regulatory changes on the movement. The key findings are that there is a significant relationship between the success of a credit union, its size and the deprivation of the ward from which it sources its members. More specifically, larger credit unions and those located in more affluent wards, are more successful. Affiliation to the Irish League of Credit Unions and having a common bond of occupation, are also found to be contributing factors to credit union success. These results are taken as providing support for the recent changes implemented by the Financial Services Authority (FSA), which is likely to result in the emergence of larger credit unions (through mergers), run by appropriately qualified persons, serving a more mixed-income membership base. It is, however, noted that the history of the UK movement is one of missed opportunities and only time will tell whether credit unions have the wherewithal to accept current opportunities.

The Soviet Union and the International Brigades, 1936-1939

The International Brigades are typically viewed as a fighting force whose impetus came from the Comintern, and thus from within the walls of the Kremlin. If the assumption is essentially correct, the broader relation between Stalin’s USSR and the IB has received little attention. This chapter constitutes an empirically-based study of the Soviet role not only in the formation of the IB, but of the Red Army’s collaboration with IB units, and Moscow’s role in the climax and denouement of the brigadistas’ Spanish experience. This study’s principal conclusion is twofold: First, that the creation and sustenance of the IB was part of Stalin’s goal of linking the Loyalist cause with that of the Soviet Union and international communism, a component of a larger geo-strategic gamble which sought to create united opposition to the fascist menace, one which might eventually bring Moscow and the West into a closer alliance. The second conclusion is that the IB, like the broader projection of Soviet power and influence into the Spanish theater, was an overly ambitious operational failure whose abortive retreat is indicative of the basic weakness of the Stalinist regime in the years prior to the Second World War.

The Diminishing Returns to Trade Policy in the European Union

The notion that the EU is a trade power is central to studies of the Union’s international presence. Credible threats to withhold access to Europe’s markets are said to provide the Union with leverage in respect of other trade partners. This paper queries the continuing ability of the European Union to act effectively this way. The current Doha malaise is a symptom of deeper changes in the international trade system. As emerging markets become more affluent and participate in foreign direct investment, their interest in market access per se become less important relative to other areas of regulation.