The Great Financial Plumbing: From Northern Rock to Banking Union. CEPS Paperback, 19 October 2015

The financial and economic crises have led to an enormous plumbing exercise, involving a fundamental re-design of the global and European regulatory and supervisory system. This book systematically assesses the big items on the G-20 and EU agendas and the effectiveness with which they have been implemented in the EU. Its publication coincides with the demand by European Commissioner Jonathan Hill, in the context of the Capital Markets Union, for a 'comprehensive review' of the impact and coherence of EU legislation in the area of financial services. Karel Lannoo argues in the book that much has been done by European policy-makers to make the financial system safer and to prevent banking crises of the magnitude that erupted in 2008 and 2011, but that the new framework puts an enormous burden on banks and supervisors to implement and enforce it correctly. With the huge amount of secondary or 'level-2' legislation in place, this process has spiralled out of control, and as member states always find new ways of ‘gold-plating’ EU rules, the EU always finds further reasons to achieve a 'single rulebook'. This process has to be brought to a halt, and mutual recognition, a basic single-market principle, reinforced. The new framework also brings huge advantages, which should offer benefits to all parties. Banking Union is a huge step forward, which introduces 'one-stop shopping' for banks in the eurozone, another basic single market principle, and a true single supervisor. The clarity of the new resolution framework should, if correctly applied, trigger early intervention and bring an end to forbearance, thereby enforcing market discipline in the banking sector. It should also avoid reliance on taxpayers' money to bail-out banks in trouble, which totalled 14% of EU GDP during the crisis.

Dog peritoneal and pleural cavities as bioreactors to grow autologous vascular grafts

Objective: The purpose of this study was to grow artificial blood vessels for autologous transplantation as arterial interposition grafts in a large animal model (dog). Method and results: Tubing up to 250 mm long, either bare or wrapped in biodegradable polyglycolic acid (Dexon) or nonbiodegradable polypropylene (Prolene) mesh, was inserted in the peritoneal or pleural cavity of dogs, using minimally invasive techniques, and tethered at one end to the wall with a loose suture. After 3 weeks the tubes and their tissue capsules were harvested, and the inert tubing was discarded. The wall of living tissue was uniformly 1-1.5 mm thick throughout its length, and consisted of multiple layers of myofibroblasts and matrix overlaid with a single layer of mesothelium. The myofibroblasts stained for a-smooth muscle actin, vimentin, and desmin. The bursting strength of tissue tubes with no biodegradable mesh scaffolds was in excess of 2500 mm Hg, and the suture holding strength was 11.5 N, both similar to that in dog carotid and femoral arteries. Eleven tissue tubes were transplanted as interposition grafts into the femoral artery of the same dog in which they were grown, and were harvested after 3 to 6.5 months. Eight remained patent during this time. At harvest, their lumens were lined with endothelium-like cells, and wall cells stained for alpha-actin, smooth muscle myosin, desmin and smoothelin; there was also a thick adventitia containing vasa vasorum. Conclusion: Peritoneal and pleural cavities of large animals can function as bioreactors to grow myofibroblast tubes for use as autologous vascular grafts.

Cleaner shrimp use a to advertise cleaning rocking dance service to clients

Signals transmit information to receivers about sender attributes, increase the fitness of both parties, and are selected for in cooperative interactions between species to reduce conflict [1, 2]. Marine cleaning interactions are known for stereotyped behaviors [3-6] that likely serve as signals. For example, dancing and tactile dancing in cleaner fish may serve to advertise cleaning services to client fish [7] and manipulate client behavior [8], respectively. Cleaner shrimp clean fish [9], yet are cryptic in comparison to cleaner fish. Signals, therefore, are likely essential for cleaner shrimp to attract clients. Here, we show that the yellow-beaked cleaner shrimp [110] Urocaridella sp. c [11] uses a stereotypical side-to-side movement, or rocking dance, while approaching potential client fish in the water column. This dance was followed by a cleaning interaction with the client 100% of the time. Hungry cleaner shrimp, which are more willing to clean than satiated ones [12], spent more time rocking and in closer proximity to clients Cephaiopholis cyanostigma than satiated ones, and when given a choice, clients preferred hungry, rocking shrimp. The rocking dance therefore influenced client behavior and, thus, appears to function as a signal to advertise the presence of cleaner shrimp to potential clients.

A unification-based natural language interface to a database.

An implementation of a Lexical Functional Grammar (LFG) natural language front-end to a database is presented, and its capabilities demonstrated by reference to a set of queries used in the Chat-80 system. The potential of LFG for such applications is explored. Other grammars previously used for this purpose are briefly reviewed and contrasted with LFG. The basic LFG formalism is fully described, both as to its syntax and semantics, and the deficiencies of the latter for database access application shown. Other current LFG implementations are reviewed and contrasted with the LFG implementation developed here specifically for database access. The implementation described here allows a natural language interface to a specific Prolog database to be produced from a set of grammar rule and lexical specifications in an LFG-like notation. In addition to this the interface system uses a simple database description to compile metadata about the database for later use in planning the execution of queries. Extensions to LFG's semantic component are shown to be necessary to produce a satisfactory functional analysis and semantic output for querying a database. A diverse set of natural language constructs are analysed using LFG and the derivation of Prolog queries from the F-structure output of LFG is illustrated. The functional description produced from LFG is proposed as sufficient for resolving many problems of quantification and attachment.

Identifying the ICT challenges of the agri-food sector to define the architectural requirements for a future internet core platform

This paper discussed the specific challenges of the agri-food sector in the light of research carried out in the Smart-AgriFod project. Using questionnaires and focus groups, our research identified as number of business needs and drivers which enable the identification of suitable Future Internet technologies across the three sub-domains of Smart Farming, Smart Agri-logistics, and Smart Food Awareness. The universal need for information access and the importance of standards to enable this lead us to propose an integrated scenario for end to end information access from farm to fork. We conclude by discussing wider implications of such developments especially for climate change and urbanisation.

Adding concurrent data transfer to transport layer

In recent years, the internet has grown exponentially, and become more complex. This increased complexity potentially introduces more network-level instability. But for any end-to-end internet connection, maintaining the connection's throughput and reliability at a certain level is very important. This is because it can directly affect the connection's normal operation. Therefore, a challenging research task is to improve a network's connection performance by optimizing its throughput and reliability. This dissertation proposed an efficient and reliable transport layer protocol (called concurrent TCP (cTCP)), an extension of the current TCP protocol, to optimize end-to-end connection throughput and enhance end-to-end connection fault tolerance. The proposed cTCP protocol could aggregate multiple paths' bandwidth by supporting concurrent data transfer (CDT) on a single connection. Here concurrent data transfer was defined as the concurrent transfer of data from local hosts to foreign hosts via two or more end-to-end paths. An RTT-Based CDT mechanism, which was based on a path's RTT (Round Trip Time) to optimize CDT performance, was developed for the proposed cTCP protocol. This mechanism primarily included an RTT-Based load distribution and path management scheme, which was used to optimize connections' throughput and reliability. A congestion control and retransmission policy based on RTT was also provided. According to experiment results, under different network conditions, our RTT-Based CDT mechanism could acquire good CDT performance. Finally a CWND-Based CDT mechanism, which was based on a path's CWND (Congestion Window), to optimize CDT performance was introduced. This mechanism primarily included: a CWND-Based load allocation scheme, which assigned corresponding data to paths based on their CWND to achieve aggregate bandwidth; a CWND-Based path management, which was used to optimize connections' fault tolerance; and a congestion control and retransmission management policy, which was similar to regular TCP in its separate path handling. According to corresponding experiment results, this mechanism could acquire near-optimal CDT performance under different network conditions.

STRESS AND INTERNATIONAL ENTREPRENEURHSIP: The dark side of international entrepreneurship

Entrepreneurship attracts people with high job satisfaction and financial independence. Unfortunately, being deceived by this image, people do not pay attention to side effects of entrepreneurship. This ignorance usually turns into devastating results for entrepreneur’s health and venture performance. Therefore, it is required to seek ways to avoid these situations. The interest of the study lies in understanding of stress influence on international entrepreneurs by considering stress as a negative side effect of international entrepreneurship. To cover the concept of entrepreneurial stress completely, the study was divided into three section presented by following research questions: 1. What are the antecedents of entrepreneurial stress? 2. What are the consequences of entrepreneurial stress? 3. What coping strategies are applied to address entrepreneurial stress? Systematic literature review has been chosen as scientific approach to answer above questions due to the reason that it enables to minimise inconsistencies of both concepts of international entrepreneurship and stress. This method has afforded an opportunity to distinguish such stress causes as role conflict, overload, and ambiguity. Additionally, the study has covered the notion of stress moderators. The author argues that entrepreneurial traits, venture environment, and social support can have influence on degree of stress perception. Further, it has been proven that unaddressed stress could lead to reduction of entrepreneur’s psychological and physiological health. It should be taken into consideration that degree of both job satisfaction and performance would depend on the level of perceived stress. The last part of study emphasises the coping strategies. The author argues that it is important for an international entrepreneur to comprehend his or her and others’ emotions in order to overcome negative consequences of stress. In addition, the author suggests that an international entrepreneur needs to practise job sharing to reduce the amount of work to be completed. Moreover, it is believed that job sharing can help to overcome work-family conflict that prevails among entrepreneurs. The author anticipates that results of study can be beneficial for entrepreneurs who aim to achieve great results.

Flexible Power Control of Photovoltaic Plants Connected to Distribution Networks

This paper presents a system to control the power injected by a photovoltaic (PV) plant on the receiving network. This control is intended to mitigate some of the negative impacts that these units may produce on such networks, while increasing the installed power of the plant. The controlled parameters are the maximum allowed value of injected active power and the corresponding power factor, whose setpoints values may be fixed or dynamic. The developed system allows a local and a remote control. The injected power and the corresponding power factor may be set by following a predetermined profile or by real time adjustments to fulfill specific operation constraints on the receiving network. The system acts by adjusting the control parameters on the PV inverters. The main goal of the system is, in the end, to control the PV plant, ensuring the accomplishment of technical constraints and, at the same time, maximizing the installed power of the PV plant, which may be an important issue concerning the economic performance of such plants

Computer simulation in spine biomechanics : An application in adolescent idiopathic scoliosis

Scoliosis is a spinal deformity, involving a side-to-side curvature of the spine in the coronal plane as well as a rotation of the spinal column in the transverse plane. The coronal curvature is measured using a Cobb angle. If the deformity is severe, treatment for scoliosis may require surgical intervention whereby a rod is attached to the spinal column to correct the abnormal curvature. In order to provide surgeons with an improved ability to predict the likely outcomes following surgery, techniques to create patient-specific finite element models (FEM) of scoliosis patients treated at the Mater Children’s Hospital (MCH) in Brisbane are being developed and validated. This paper presents a comparison of the simulated and clinical data for a scoliosis patient treated at MCH.

Power over, with and through : another look at micropolitics

Understanding micropolitics has become an important part of understanding leadership and power relations within schools. In this paper we review some of the pertinent literature and writing in the field, particularly as it relates to school leadership. Drawing on a couple of existing models, we present a new model that highlights three central power-based leadership approaches—‘power with’, ‘power through’ and ‘power over’. We put forward two contrasting vignettes that reveal a variety of micropolitical strategies used by school principals in the governance of their schools. These strategies range from favouritism and control at one end to empowerment and collaboration at the other. The vignettes are analysed in the light of the model and micropolitical literature presented in this article.

A framework for network RTK data processing based on grid computing

Real-Time Kinematic (RTK) positioning is a technique used to provide precise positioning services at centimetre accuracy level in the context of Global Navigation Satellite Systems (GNSS). While a Network-based RTK (N-RTK) system involves multiple continuously operating reference stations (CORS), the simplest form of a NRTK system is a single-base RTK. In Australia there are several NRTK services operating in different states and over 1000 single-base RTK systems to support precise positioning applications for surveying, mining, agriculture, and civil construction in regional areas. Additionally, future generation GNSS constellations, including modernised GPS, Galileo, GLONASS, and Compass, with multiple frequencies have been either developed or will become fully operational in the next decade. A trend of future development of RTK systems is to make use of various isolated operating network and single-base RTK systems and multiple GNSS constellations for extended service coverage and improved performance. Several computational challenges have been identified for future NRTK services including: • Multiple GNSS constellations and multiple frequencies • Large scale, wide area NRTK services with a network of networks • Complex computation algorithms and processes • Greater part of positioning processes shifting from user end to network centre with the ability to cope with hundreds of simultaneous users’ requests (reverse RTK) There are two major requirements for NRTK data processing based on the four challenges faced by future NRTK systems, expandable computing power and scalable data sharing/transferring capability. This research explores new approaches to address these future NRTK challenges and requirements using the Grid Computing facility, in particular for large data processing burdens and complex computation algorithms. A Grid Computing based NRTK framework is proposed in this research, which is a layered framework consisting of: 1) Client layer with the form of Grid portal; 2) Service layer; 3) Execution layer. The user’s request is passed through these layers, and scheduled to different Grid nodes in the network infrastructure. A proof-of-concept demonstration for the proposed framework is performed in a five-node Grid environment at QUT and also Grid Australia. The Networked Transport of RTCM via Internet Protocol (Ntrip) open source software is adopted to download real-time RTCM data from multiple reference stations through the Internet, followed by job scheduling and simplified RTK computing. The system performance has been analysed and the results have preliminarily demonstrated the concepts and functionality of the new NRTK framework based on Grid Computing, whilst some aspects of the performance of the system are yet to be improved in future work.

The ADHD debate and the philosophy of truth

There is ongoing and wide-ranging dispute over the proliferation of childhood behaviour disorders. In particular, the veracity of the category Attention Deficit Hyperactivity Disorder (ADHD), has been the subject of considerable scepticism. With no end to the debate in sight, it will be argued here that the problem might effectively be approached, not by addressing the specific features of ADHD itself, but rather by a philosophical analysis of one of the terms around which this entire problem revolves: that is, the notion of truth. If we state: “It is true that ADHD is a real disorder”, what exactly do we mean? Do we mean that it is an objective fact of nature? Do we mean that it fits seamlessly with other sets of ideas and explanations? Or do we simply mean that it works as an idea in a practical sense? This paper will examine the relationship between some of the dominant models of truth, and the assertions made by those in the field of ADHD. Specifically, the paper will contrast the claim that ADHD is a real disorder, with the claim that ADHD is a product of social governance. The intention is, first, to place some significant qualifications upon the validity of the truth-claims made by ADHD advocates, and second, to re-emphasise the potential and promise of philosophical investigation in providing productive new ways of thinking about some obstinate and seemingly intractable educational problems.

Biologically inspired joint control for a humanoid robot

The GuRoo is a 1.2 m tall, 23 degree of freedom humanoid constructed at the University of Queensland for research into humanoid robotics. The key challenge being addressed by the GuRoo project is the development of appropriate learning strategies for control and coordination of the robot's many joints. The development of learning strategies is seen as a way to side-step the inherent intricacy of modeling a multi-DOF biped robot. This paper outlines the approach taken to generate an appropriate control scheme for the joints of the GuRoo. The paper demonstrates the determination of local feedback control parameters using a genetic algorithm. The feedback loop is then augmented by a predictive modulator that learns a form of feed-forward control to overcome the irregular loads experienced at each joint during the gait cycle. The predictive modulator is based on the CMAC architecture. Results from tests on the GuRoo platform show that both systems provide improvements in stability and tracking of joint control.

Design and deployment of a remote robust sensor network : experiences from an outdoor water quality monitoring network

This paper investigates a wireless sensor network deployment - monitoring water quality, e.g. salinity and the level of the underground water table - in a remote tropical area of northern Australia. Our goal is to collect real time water quality measurements together with the amount of water being pumped out in the area, and investigate the impacts of current irrigation practice on the environments, in particular underground water salination. This is a challenging task featuring wide geographic area coverage (mean transmission range between nodes is more than 800 meters), highly variable radio propagations, high end-to-end packet delivery rate requirements, and hostile deployment environments. We have designed, implemented and deployed a sensor network system, which has been collecting water quality and flow measurements, e.g., water flow rate and water flow ticks for over one month. The preliminary results show that sensor networks are a promising solution to deploying a sustainable irrigation system, e.g., maximizing the amount of water pumped out from an area with minimum impact on water quality.

An empirical study of data collection protocols for wireless sensor networks

In the past few years, numerous data collection protocols have been developed for wireless sensor networks (WSNs). However, there has been no comparison of their relative performance in realistic environments. Here we report the results of an empirical study using a Fleck3 sensor network testbed for four different data collection protocols: One phase pull Directed Diffusion (DD), Expected Number of Transmissions (ETX), ETX with explicit acknowledgment (ETX-eAck), and ETX with implicit acknowledgment (ETX-iAck). Our empirical study provides useful insights for future sensor network deployments. When the required application end-to-end reliability is not strict (e.g., 70%) and link quality is good, DD and ETX are the best options because of their simplicity and low routing overhead. Both ETX-eAck and ETX-iAck achieve more than 90% end-to-end reliability when the link quality is reasonable (less than 25% packet loss). When the link quality is good, ETX-iAck introduces significantly less routing overhead (up to 50%) than ETX-eAck. However, if the radio transceiver supports variable packet length, ETX-eAck can outperform ETX-iAck when the link quality is poor. The important message from this paper is that choice of data collection protocol should come after the operating environment is understood. This understanding must include the characteristics of the radio transceiver, and link loss statistics from a long-term (across seasons and weather variation) radio survey of the site.