The great leap. Turkey under Erdogan. OSW Point of View 51, 27 May 2015

Since the AKP took power in 2002, Turkey has seen a replacement of the state’s elites, a real change of the political system and a redefinition of the state identity. All this has been accompanied by economic development and rapid social transformation. The pro-democratic reforms and improved prosperity in the first decade of the AKP’s rule created the opportunity for Turkey to become part of the West in terms of legal and political standards, while maintaining its cultural distinctness. However, from the point of view of Recep Tayyip Erdogan, the leader of a new Turkey, the political reforms turned out not to be a goal per se but a means to the end of achieving a monopoly on power. Once this goal was achieved, Erdogan began leading Turkey towards the status of an autocratic state focused on the Middle East and resentful towards the West. This trend is unlikely to be reversed under Erdogan’s rule. However, even if the government were to change, there would be no return to the Turkey from before the AKP era. In turn, the Turkish public will have to answer the questions regarding its civilisational identity and the vision of the political and social order.

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.

Europe’s Untapped Capital Market: Rethinking integration after the great financial crisis. Final report of the European Capital Markets Expert Group. Task Force Report, February 2016

In December 2014, ECMI and CEPS formed the European Capital Markets Expert Group (ECMEG) with the aim of providing a long-term contribution to the debate on the Capital Markets Union (CMU) project, proposed by the European Commission. After an intensive, year-long research effort and in-depth discussions with ECMEG members, this final report aims to rethink financial integration policies in the European Union and to devise an EU-wide plan to remove the barriers to greater capital markets integration. It offers a methodology to identify and prioritise cross-border barriers to capital markets integration and provides a set of policy recommendations to improve its key components: price discovery, execution and enforcement of capital markets transactions.

(Table 1) Abundance of tunicate spicules along the Great Barrier Reef-Queensland Plateau transect

The abundance patterns of tunicate spicules are documented for the Pliocene-Pleistocene sediments at seven sites along the Great Barrier Reef-Queensland Plateau transect. The spatial distribution pattern indicates that tunicate spicules were limited to waters shallower than 900 m. The occurrences of tunicate spicules at Sites 822 and 823 that are deeper than 900 m are ascribed to downslope transport, and their distribution patterns can be used to monitor downslope transport processes. The first common occurrence of tunicate spicules at Sites 822 and 823 around 1.6 Ma may suggest the initiation of the central Great Barrier Reef at this time. The morphology of tunicate spicules varies greatly and appears to be gradational among different forms. Older tunicate assemblages are less diverse than those in younger sediments, presumably because of diagenesis. Tunicate spicules do not appear to be a promising biostratigraphic tool for the Pliocene-Pleistocene.

(Table 1) Bulk carbonate content of ODP Hole 194-1198A sediments, east of the Great Barrier Reef

Upper Quaternary sediment sequences east of the Great Barrier Reef are characterized by alternating siliciclastic- and carbonate-rich horizons caused by changes in the input of various sedimentary components and reflected in cores by variations in bulk carbonate content. A total of 153 measurements of bulk carbonate content were determined using the carbonate-bomb technique for late Pleistocene sediments between 0 and 23.69 meters below sea floor (mbsf) in Ocean Drilling Program Hole 1198A. Average sample resolution was 15 cm and multiple analyses were performed on each sample. Bulk carbonate content ranges from a maximum of 94 wt% at 13.63 mbsf to a minimum of 73 wt% at 14.54 mbsf. Five cyclic trends are observed that may relate to five major glacial events during the last 500 k.y. of the Quaternary.

Winners in life's race, or, The great backboned family.

Includes index.

The great south land; the river Plate and southern Brazil of to-day,

Mode of access: Internet.

El supremo; a romance of the great dictator of Paraguay,

Mode of access: Internet.

Sampling strategies for water quality in the Great Lakes /

Mode of access: Internet.

A book on building, civil and ecclesiastical : including church restoration : with the theory of domes and the great pyramid, and dimensions of many churches and other great buildings /

Includes index.

Aristodemocracy : from the great war back to Moses, Christ, and Plato ; an essay /

Mode of access: Internet.

Days with the great composers, third series : Mozart, Schumann, Tschaikovsky.

Mode of access: Internet.

New measures of the Great pyramid,

"Extended and corrected from the review in the ʻBanner of Israel, ̓for November and December, 1883."