Addressing the immediate needs of the Greek banks. CEPS Commentary, 31 July 2015

Based on a detailed calculation of the recapitalisation requirements of the Greek banks, we find that the sector needs an infusion of capital, but that the level largely depends on the stringency of the capital requirements applied. An expedient quick fix to comply with the minimum capital requirements could be achieved by a bail-in of existing creditors under the EU Bank Recovery and Resolution Directive of around €5 billion, leaving only €6 billion needed for re-capitalisation. If the ‘Cypriot’ standard is applied, however, the required re-capitalisation would be €15 billion. A ‘generous’ approach, which takes into account the phasing in of the new more-stringent capital requirements until 2018, would imply a re-capitalisation of €29 billion (or more bailing-in of creditors). The re-capitalisation should be undertaken preferably by the EIB, the EBRD or the new Greek investment fund, rather than via loans from the ESM to the Greek government.

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.

Firmer foundations for a stronger European Banking Union. Bruegel Working Paper 2015/13, November 2015

The move to European Banking Union involving the supervision and resolution of banks at euro-area level was stimulated by the sovereign debt crisis in the euro area in 2012. However, the long-term objective of Banking Union is dealing with intensified cross-border banking.The share of the assets of national banking systems that come from other EU countries was rising before the financial and economic crisis of 2007, but went into decline thereafter in the context of a general retrenchment of international banking. Most recent data, however, suggests the decline has been halted. About 14 percent of the assets of banks in Banking Union come from other EU countries, while about a quarter of the assets of the top 25 banks in the Banking Union are held in other EU countries.While a crisis-prevention framework for the euro area has largely been completed, the crisis-management framework remains incomplete, potentially creating instability. There is no governance mechanism to resolve disputes between different levels of crisis-management agencies, and incentives to promote optimum oversight are lacking. Most importantly, risk-sharing mechanisms do not adequately address the sovereign-bank loop, with a lack of clarity about the divide between bail-in and bail-out.To complete Banking Union, the lender-of-last-resort and deposit insurance functions should move to the euro-area level, breaking the sovereign-bank loop. A fully-fledged single deposit insurance (and resolution) fund should be favoured over a reinsurance scheme for reasons of cost and simplicity.

Banking crisis yet again and how to fix it. CEPS Commentary, 15 February 2016

Almost out of the blue, a combination of diverse factors has elicited a run on bank stocks and junior and senior debt, raising the spectre of a renewed systemic bank crisis within the European Union. The policy response cannot come from the European Central Bank but, instead, must consist of regulatory responses capable of dispelling the uncertainty over future prudential capital requirements while also temporarily suspending the rules on state aid cum bail-in that had ignited the crisis.

Facilitating Mobility and Fostering Diversity: Getting EU Migration Governance to Respect the Human Rights of Migrants. CEPS Paper in Liberty and Security in Europe No. 92/May 2016

Migration towards Europe has surged over the past few years, overwhelming government authorities at the national and EU levels, and fuelling a xenophobic, nationalist, populist discourse linking migrants to security threats. Despite positive advances in the courts and worthy national initiatives (such as Italy’s Operation Mare Nostrum), the EU’s governance of migration and borders has had disastrous effects on the human rights of migrants. These effects stem from the criminalisation of migrants, which pushes them towards more precarious migration routes, the widespread use of administrative detention and the processing of asylum claims under the Dublin system, and now the EU–Turkey agreement. Yet, this paper finds that with the right political leadership, the EU could adopt different policies in order to develop and implement a human rights-based approach to migration that would seek to reconcile security concerns with the human rights of migrants. Such an approach would enable member states to fully reap the rewards of a stable, cohesive, long-term migration plan that facilitates and governs mobility rather than restricts it at immense cost to the EU, the member states and individual migrants.

La conduite avec facultés affaiblies : les contrevenants et les services offerts dans les établissements de détention du Québec

Rapport de stage présenté à la Faculté des études supérieures en vue de l’obtention du grade de Maître ès science (M. Sc.) en criminologie Option stage en analyse criminologique

National juvenile custody trends, 1978-1989 : juveniles taken into custody research program /

"Cooperative agreement award no. 89-JN-CX-K003"--T.p. verso.

District of Columbia appropriations for fiscal year 1968 : hearings before the subcommittee of the Committee on Appropriations, United States Senate, Ninetieth Congress, first session, on H.R. 8569 ..

pt. 1. Adult education center, executive office, general operating expenses, outside witnesses, public health, public schools, sanitary engineering, veterans' affairs.--pt. 2. Federal obligation, loans and interest, public welfare, vocational rehabilitation.--pt. 3. Amendments requested, bail agency and legal aid, corrections, crime inquiry, courts, bail agency, legal aid, police, probation and parole, metropolitan police.

Annual report of the New York Juvenile Asylum to the legislature of the state and to the Common Council of the City of New York, presented at the annual meeting of the association.

Title varies slightly.

Guidelines for the development of policies and procedures : juvenile training schools /

"Intended to be a companion to ACA's Standards for juvenile training schools."--Introd.

Biennial report of the Superintendent of the Stonewall Jackson Manual Training and Industrial School to the Governor and the Board of Trustees [serial] : for the biennium ending ...

Report year ends in Nov. (1st and 5th report), Dec. (6th report), and June (7th-11th reports).

Mon agonie de trente-huit heures, ou, Récit de ce qui m'est arrivé, de ce qui m'est arrivé, de ce que j'ai vu et entendu pendant ma détention dans la prison de l'abbaye Saint-Germain, depuis le 22 août jusqu'au 4 septembre ; /

Colophon: De l'Imprimerie de Desenne, rue Royale, butte Saint-Roch, no. 25. 1792.

Reports of cases argued and determined in the English courts of common law.

A condensed edition later printed in full as v. 1-40 of a publication with same title. cf. Soule, The Lawyer's ref. manual. 1884.

Traités sur différentes matieres de droit civil, apliquées a l'usage du barreau, et de jurisprudence Françoise.

Contiene: Le Traité du contrat de constitution de rente ; Le Traité du contrat de change ; Le Traité du contrat de louage ; Le Traité du contrat de bail à rente ; Le Traité des contrats de louage maritime ; Le Traité du contrat de société ; Le Traité des cheptels ; Le Traité des contrats de bienfaisance ; Le Traité du prêt à usage ; Le Traité du précaire ; Le Traité du prêt de consomption ; Le Traité du depôt ; Le Traité du mandat ; Le Traité du quasi-contrat negotiorum gestorum ; Et le Traité du nantissement.

Alcohol related incidents survey : final report.

Chiefly tables.