A comprehensive approach to the euro-area debt crisis

The euro area‘s sovereign debt crisis continues though significant steps have been taken to resolve it. This paper proposes a comprehensive solution to the crisis based on three pillars: a plan to restore banking sector soundness in the whole euro area, a resolution of sovereign debt crisis -including a revision of EU assistance facilities and a reduction of the Greek public debt- and a strategy to foster growth and competitiveness. The paper provides novel estimates and analysis focusing on the current situation of Greece, Ireland, Portugal and Spain.

Europe’s Growth Emergency

Highlights: • The European Union growth agenda has become even more pressing because growth is needed to support public and private sector deleveraging, reduce the fragility of the banking sector, counter the falling behind of southern European countries and prove that Europe is still a worthwhile place to invest. • The crisis has had a similar impact on most European countries and the US: a persistent drop in output level and a growth slowdown. This contrasts sharply with the experience of the emerging countries of Asia and Latin America. • Productivity improvement was immediate in the US, but Europe hoarded labour and productivity improvements were in general delayed. Southern European countries have hardly adjusted so far. • There is a negative feedback loop between the crisis and growth, and without effective solutions to deal with the crisis, growth is unlikely to resume. National and EU-level policies should aim to foster reforms and adjustment and should not risk medium-term objectives under the pressure of events. A more hands-on approach, including industrial policies, should be considered.

Vállalati vezetők innovációs érzékenysége, szemlélete és szándékaik – egy felmérés tapasztalatai (Managers' innovation sensivity, approach, and purposes – experience of a survey)

A magyar vállalatok innovatív képességét felmérő kérdőíves kutatások eltérő eredményeket adtak, ami a piaci szereplők eltérő innováció-értelmezésével magyarázható. A szerzők feltevése szerint a vállalati vezetők jellemzően innovatívnak tartják magukat, és ez alapján jelentős részük fejlesztéseket tervez a jövőben, amelyhez pályázati forrásokat kívánnak igénybe venni. A gyakorlati életben az innováció fogalmát a tudományos definíciónál tágabban értelmezik, a vállalatnál bevezetett újdonságokat (például a piaci versenytársaktól átvett új terméket) is innovációnak értékelik. A vállalati növekedést a finanszírozási nehézségek korlátozzák. A támogatások, a hitelek és a kockázati tőke jellegű források eltérő mértékben játszanak szerepet a vállalatok életében. A szerzők tanulmányukban a vállalatok innovatív tevékenysége és a különböző források megléte közötti kapcsolatot, valamint a pályázati rendszerhez fűződő vállalati tapasztalatokat vizsgálják. /===/ Questionnaire surveys of innovation abilities of the Hungarian enterprises have given different results, which could be explained by different innovation interpretation of the market players. According to the authors' hypothesis the managers consider themselves innovative, and many of them plan developments in the future to realize them with tender sources. In the practice idea of innovation is broader interpreted than the scientific definition, and novelties introduced at the companies (eg. a new product taken over from competitors) is also considered innovation. Corporate growth is limited by financing difficulties. Supports, credits and sources of venture capital character play a role int he corporate life to different extent. Authors investigate the connection between the innovative activity of companies and the existence of several sources, and corporate experience linked to tendering system.

Modelling the growth of young individuals of Pinus nigra on thin carbonate soils under climate change in Hungary

Climate change highly impacts on tree growth and also threatens the forest of the karstic terrains. From the 1980s the frequency of decay events of the Pinus nigra Arnold forests showed a marked increase in Hungary. To understanding the vulnerability of Pinus nigra forests to climate change on shallow karstic soils in continental-sub Mediterranean climatic conditions we developed the study of three sampled population in the typical karstic landscape of Veszprém in North Transdanubia. We built our model on non-invasive approach using the annual growth of the individuals. MPI Echam5 climate model and as aridity index the Thornthwaite Agrometeorological Index were used. Our results indicate that soil thickness up to 11 cm has a major influence on the main growth intensity, however, aridity determines the annual growth rate. Our model results showed that the increasing decay frequency in the last decades was a parallel change to the decreasing growth rate of pines. The climate model predicts the similar, increased decay frequency to the presents. Our results can be valid for a wider areas of the periphery of Mediterranean climate zone while the annual-growth based model is a cost-effective and simple method to study the vitality of pine trees in a given area.

A New Approach Model in Post Graduate Training of Local Government Officers

In 2013-15 there was a new type of post graduate training elaborated and piloted in Hungary at the Institute of Executive Training and Continuing Education (VTKI) within the National University of Public Service (NKE). Although the pilot financed by the State Administration Reform Operative Program (ÁROP) had not lacked the previously established attempts to include interactivity in the training, it was the first to observe and apply the actual principles of the European Union 2020 expressed in the threefold criteria of economic growth: smartness, sustainability and inclusiveness. All of them are represented by a pillar of the program like e-learning, class training and field training with the inclusion of local society. According to the objectives of the program there were at least 10 thousand attendees from the civil service sphere set as project indicators, so it has been a large scale training program that took place in 2014 in Hungary. The following article shows the innovations included in this new approach model of post graduate training civil servants.