The Euro: A Crisis of the Currency or a Failure of Politics? Paper from the Colloquium: The Politics and Economics of the Euro Crisis, Institute for European Studies, University of Malta, 2 December 2011

Summary: Overall the monetary pillar of the EMU project has worked well so that it is incorrect to speak of a 'euro' crisis though it is at the epicentre of the present crisis. The origins of the problems it is facing have more to do with the economic component, particularly because of the breach of budgetary rules which points to a failure of politics. Hence the solution must be political, namely a strong commitment by governments to achieve balanced budgets and implement structural reforms so as to lay the basis for improved competitiveness, job creation and sustainable growth.

Money, Finance and the Real Economy: What went wrong? CEPS Paperback, 17 March 2015

The functions of the financial system of a developed economy are often badly understood. This can largely be attributed to free-market ideology, which has spread the belief that leaving finance to its own devices would provide the best possible mechanism for allocating savings. The latest financial crisis has sparked the beginnings of a new awareness on this point, but it is far from having led to an improved understanding of the role of the financial institutions. For many people, finance remains more an enemy to be resisted than an instrument to be intelligently exploited. Its institutions, which issue and circulate money, play an important role in the working of the real economy that it would be imprudent to neglect. The allocation of savings, but also the level of activity and the growth rate depend on it. In this book, the authors carefully analyse the close links between money, finance and the real economy. In the process, they show why today the existence of a substantial potential of saving, instead of being an opportunity for the world economy, could threaten it with ‘secular stagnation’.

Near Real-Time Detection Of Pipe Bursts in Water Distribution Systems

The research work presented in the thesis describes a new methodology for the automated near real-time detection of pipe bursts in Water Distribution Systems (WDSs). The methodology analyses the pressure/flow data gathered by means of SCADA systems in order to extract useful informations that go beyond the simple and usual monitoring type activities and/or regulatory reporting , enabling the water company to proactively manage the WDSs sections. The work has an interdisciplinary nature covering AI techniques and WDSs management processes such as data collection, manipulation and analysis for event detection. Indeed, the methodology makes use of (i) Artificial Neural Network (ANN) for the short-term forecasting of future pressure/flow signal values and (ii) Rule-based Model for bursts detection at sensor and district level. The results of applying the new methodology to a District Metered Area in Emilia- Romagna’s region, Italy have also been reported in the thesis. The results gathered illustrate how the methodology is capable to detect the aforementioned failure events in fast and reliable manner. The methodology guarantees the water companies to save water, energy, money and therefore enhance them to achieve higher levels of operational efficiency, a compliance with the current regulations and, last but not least, an improvement of customer service.