Amphipoda assemblages in a disturbed area (Alicante, Spain, Western Mediterranean)

The distribution and composition of Amphipoda assemblages were analysed off the coasts of Alicante (Spain, Western Mediterranean), a disturbed area affected by several co-occurring anthropogenic impacts. Although differences among sampled stations were mainly related to natural parameters, anthropogenic activities were linked with changes in amphipod assemblages. Expansion of the Port of Alicante, a sewage outfall and a high salinity brine discharge could be causing the disappearance of amphipods at stations closer to these disturbances. However, the completion of port enlargement works and mitigatory dilution of the brine discharge has led to the recovery of the amphipod assemblage. Among the natural parameters, depth determines the distribution of some of the species. While Siphonoecetes sabatieri was abundant at shallow stations, Ampelisca spp., Photis longipes, Pseudolirius kroyeri, Apherusa chiereghinii and Phtisica marina were more abundant at deeper stations. Grain size and percentage of organic matter also influenced amphipod distribution, resulting in changes in species composition and in the relative percentages of different trophic groups. Species such as Ampelisca brevicornis, Perioculodes longimanus, Urothoe hesperiae and Urothoe elegans were more abundant at stations with a high content of fine sand. Carnivorous species, mainly of the Oedicerotidae family, were more abundant at those stations with a low organic matter content, while detritivorous species were more abundant at stations with a higher mud content. Among 62 identified species, three were reported for the first time from the Spanish Mediterranean coast, two species were recorded for the second time and a new species of Siphonoecetes was found, Siphonoecetes (Centraloecetes) bulborostrum. These results confirm the need for further data on amphipods from the Mediterranean Spanish coast.

Access to environmental information in an Open European Society - Directive 2003/4. Research Paper in Law 5/2003

[From the Introduction]. Information gives knowledge and knowledge gives power. Though in all EC Member States, the task to protect the environment is given to the administration, it is obvious that the administration is not the owner of the environment. The environment is everybody's. It is for this reason that administrative decisions which affect the environment must be transparent, open and must strike a balance between the general interest to preserve, protect and improve the quality of the environment on the one hand, the satisfying of specific private or public interests on the other hand. In order to allow at least a certain control of whether the administration strikes the right balance between the need to protect the environment and other legitimate or less legitimate needs, it appears normal and self-evident that information on the environment which is in the hands of public authorities, be also made available to the public and to citizens.

Banking Union with a Sovereign Virus. The self-serving regulatory treatment of sovereign debt in the euro area. CEPS Policy Brief No. 289, 27 March 2013

In many eurozone countries, domestic banks often hold more than 20% of domestic public debt, which is an unsatisfactory situation given that banks are highly leveraged and that sovereign debt is inherently subject to default risk within the euro area. This paper by Daniel Gros finds, however, that the relative concentration of public debt on bank balance sheets is not just a result of the euro crisis, for there are strong additional incentives for banks in some countries to increase their sovereign. His contribution discusses a number of these regulatory incentives – the most important of which is specific to the euro area – and explores ways in which euro area banks can be weaned from massive investments in government bonds.

Sovereign debt and its restructuring framework in the Euro area. Bruegel Working Paper 2013/05, August 2013

To compensate for the inflexibility of fixed exchange rates, the euro area needs flexibility through a system of orderly debt restructuring. With virtually no room for macroeconomic manoeuvring since the crisis onset, fiscal austerity has been the main instrument for achieving reductions in public debt levels; but because austerity also weakens growth, public debt ratios have barely budged. Austerity has also implied continued high private debt ratios. And these debt burdens have perpetuated economic stasis. Economic theory,history, and the recent experience all call for a principled debt restructuring mechanism as an integral element of the euro area’s design. Sovereign debt should be recognised as equity (a residual claim on the sovereign), operationalised by the automatic lowering of the debt burden upon the breach of contractually-specified thresholds. Making debt more equity-like is also the way forward for speedy private deleveraging. This debt-equity swap principle is a needed shock absorber for the future but will also serve as the principle to deal with the overhang of ‘legacy’ debt.