Reality Effects: The Historical Novel and the Crisis of Fictionality in the First Decade of the Twenty-first Century

This chapter looks at the assumptions made about the 'fictionality' of prose fiction implicit in the contemporary historical novel. In particular it argues that the recent historical novel has developed a set of 'reality effects' which appear to look back to modernist writing, but in fact work to secure a disguised referentiality in the face of a loss of faith in the fictional.

At the end of the day: Macmillan's account of the Cuban missile crisis

Pre-publicity for the final volume of Harold Macmillan’s memoirs, At the End of the Day, stressed that it would provide the British side of the Cuban missile crisis for the first time. The Churchillian model chosen, changes required by the Cabinet Office and Macmillan’s desire to rebuke those political opponents who claimed that the crisis demonstrated a lack of British influence in Washington, however ensured a focus on his personal relationship with President Kennedy. His larding the text with contemporary observations from his diaries also skewed Macmillan’s account and, in particular, underplayed the significance of British moves at the United Nations in New York to secure a credible United Nations inspection regime and a US guarantee of the inviolability of Cuba. Careful reconstruction of Macmillan’s real-time experience of the Cuban missile crisis demonstrates the limitations of his own account of this event

Unnoticed apocalypse: the science fiction politics of urban crisis

The slogan ‘capitalism is crisis’ is one that has recently circulated swiftly around the global Occupy movement. From Schumpeter to Marx himself, the notion that the economic cycles instituted by capitalism require periodic crises as a condition of renewed capital accumulation is a commonplace. However, in a number of recent texts, this conception of crisis as constituting the very form of urban capitalist development itself has taken on a more explicitly apocalyptic tone, exemplified by the Invisible Committee's influential 2007 book The Coming Insurrection, and its account of what it calls simply ‘the metropolis’. ‘It is useless to wait’, write the text's anonymous authors, ‘for a breakthrough, for the revolution, the nuclear apocalypse or a social movement.… The catastrophe is not coming, it is here.’ In considering such an apocalyptic tone, this paper thus situates and interrogates the text in terms both of its vision of the metropolis as a terrain of total urbanization and its effective spatialization of the present as itself a kind of ‘unnoticed’ apocalypse: the catastrophe which is already here. It does so by approaching this not only apropos its place within contemporary debates surrounding leftist politics and crisis theory but also via its imaginative intersection with certain post-1960s science fiction apocalyptic motifs. What, the paper asks, does it mean to think apocalypse as the ongoing condition of the urban present itself, as well as the opening up of political and cultural opportunity for some speculative exit from its supposedly endless terrain?

Modifying “a very dangerous message": Britain, the non-aligned and the UN during the Cuban missile crisis

This chapter analyses the unfolding of the Cuban missile crisis in the context of the 17th General Assembly of the UN and shows that, contrary to earlier accounts, U Thant was responding to pressures from the non-aligned and the British in his attempts to handle the crisis.

Prime Minister and President: Harold Macmillan’s accounts of the Cuban missile crisis

This chapter analyses the successive ways in which Macmillan re-wrote his experiences of the Cuban missile crisis and in the process sought to re-configure the memory of the event in Britain.

Urban design, central London and the ‘crisis’ 2007-2013: business as usual?

London is changing, to a breath-taking extent. Beneath this fast paced activity, new patterns are forming and divisions that had been relatively unremarked before are now becoming increasingly visible. The ‘square mile’ of the City of London, which is now identified by some dramatically tall buildings, forms a contrast to the traditional urbanism of the City of Westminster, the majority of which is covered by conservation area legislation. This paper will consider this contrast from the perspective of urban design, examining both the wider development context for these changes and the separate design policies of these two historic organisations of local government. One of the key questions to be investigated is how these changes have impacted on the character of central London as a place. Moving on from the well-rehearsed debates about London’s skyline, the paper considers the significance of urban design in the context of a global urban spatial economy. It suggests that central London faces severe dilemmas about its future if the growth scenario continues.

Impact of the financial crisis on cross-border mergers and acquisitions and concentration in the global banking industry

The global banking industry has seen dramatic changes in the past 40 years. Most recently, the financial liberalization of emerging markets and the global financial crisis have significantly impacted the market share of banks worldwide. This article investigates the impact of the 2007–2008 financial crisis on cross-border mergers and acquisitions (M&As) in the banking sector and emphasizes the role of emerging-market banks in the postcrisis consolidation trend. Using M&A data and concentration data over the period 2000–2013, our analysis indicates that the financial crisis had a significant impact on worldwide M&As, especially on the direction of the transactions. Emerging-market banks appear to be major acquirers in the postcrisis period, targeting both neighboring countries and developed economies in Europe. We also observe an increase in bank concentration in developed markets most hit by the financial crisis, especially in the United States and the United Kingdom, whereas bank concentration decreased in emerging markets.

Identifying economic periods and crisis with the multidimensional scaling

This paper applied MDS and Fourier transform to analyze different periods of the business cycle. With such purpose, four important stock market indexes (Dow Jones, Nasdaq, NYSE, S&P500) were studied over time. The analysis under the lens of the Fourier transform showed that the indexes have characteristics similar to those of fractional noise. By the other side, the analysis under the MDS lens identified patterns in the stock markets specific to each economic expansion period. Although the identification of patterns characteristic to each expansion period is interesting to practitioners (even if only in a posteriori fashion), further research should explore the meaning of such regularities and target to find a method to estimate future crisis.

Effect of European Sovereign debt crisis on banks’ stock market performances: application to Portuguese data

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

How bank business models relate with risk?: The case of Portugal in times of financial crisis

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

Testing for volatility persistence change: The effect of the credit crisis on the Portuguese banks

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

The impact of the European sovereign debt crisis on the recovering from the financial crisis: Equity returns of the banking sector

This paper analyses, through a dynamic panel data model, the impact of the Financial and the European Debt crisis on the equity returns of the banking system. The model is also extended to specifically investigate the impact on countries who received rescue packages. The sample under analysis considers eleven countries from January 2006 to June 2013. The main conclusion is that there was in fact a structural change in banks’ excess returns due to the outbreak of the European Debt Crisis, when stock markets were still recovering from the Financial Crisis of 2008.

Rethinking the Portuguese banking sector in a post-crisis context

As the financial crisis hit the Portuguese banks, the profitability of the whole sector squeezed to historical minimums. Reinventing the banking business model in the post-crisis context is an overriding issue to achieve sustainable profits and a low cost-to-income ratio. We propose banks to adopt a true multichannel approach, proceeding to a branch network reformatting and a relocation of services to online channels; adopt a true customer-centric approach and reduce the product and services portfolio complexity; finally, industrialize operations and rationalize the structure. With these measures in place, Portuguese banks will become leaner and more efficient, aspiring to a cost-to-income ratio below 45%.

The role of deposit insurance and bank’s asset size in the 2008 financial crisis

In this paper we analyze the role of deposit insurance in providing the market with liquidity in times of financial turmoil. To do so, we look at the variation in insured and uninsured deposits between 2005Q3 and 2011Q3, controlling for liquidity, solvency and capital adequacy indicators, and find evidence that deposit insurance does provide some confidence in keeping funds in banks in times of turmoil. Additionally we follow an event study methodology to assess the impact of deposit insurance oriented policies on bank holding companies stock market returns, and find a TBTF effect.

Mota-Engil new prospects of growth: Overcoming the financial crisis

The 2008 global financial crisis caused the collapse of business key sectors, declines in consumer wealth and a fall in economic activity resulting in a global recession. In some European countries, the 2008 crisis contributed to a sovereign-debt crisis which had a strong impact in Southern European countries. The construction sector was particularly affected, with budget cuts disturbing public investment and no financing available for private constructors. This report intends to explain how Mota-Engil, faced this situation of low growth, and which strategies were adopted by the management to overcome the difficult economic conjecture, mainly in its domestic market: Portugal. The report is organized as a case-study. The first part, the case narrative, is subdivided into 6 parts, and the second part is the teaching note. The teaching note is constituted by the four questions and their respective responses.