Closing financial institutions on both sides of the Atlantic: Are there differences in approach? CEPS Commentary, 25 February 2015

In the aftermath of the Great Financial Crisis both the EU and the US have implemented resolution procedures for their largest and most systemic financial institutions. This Commentary examines the main differences between the two frameworks. The EU framework allows, inter alia, action to prevent the failure of a credit institution, while the US regulatory framework requires that all systemic banks subject to resolution must be closed and resolved. The greater flexibility under the EU resolution framework allows action to be taken to preserve a credit institution without putting it through an insolvency process, which makes limiting moral hazard less obvious. Moreover, the scope of the EU framework is still narrow, since it does not allow the recovery of non-bank financial institutions, whereas the US framework does.

Balancing realism and vision - The prospects of EU-Israel relations in times of change and uncertainty. European Policy Brief, 28 May 2015

In this joint EPC-FSD Policy Brief, Andrea Frontini and Eran Etzion assess the state of play and the future prospects of EU-Israel relations in the light of recent domestic and regional political developments. They argue that, despite frequent cacophony and recurring stalemates, the EU-Israel partnership still has the potential to pursue shared strategic objectives. The two sides have to realign their relations, taking into account new realities and common challenges in the Middle East and Northern Africa region, and the current state of the Middle East Peace Process. More careful differentiation and stronger prioritisation of the policy dossiers at stake are urgently needed. An autonomous but joined up review of the overall relationship, guided by courage, pragmatism and stronger strategic direction, is crucial in order to move ahead.

spotlight europe #2015/01—April 2015: Turbulent Times in the Disunited Kingdom

The general election on 7th May 2015 is not only going to lead to radical changes in the political landscape. Britain will also have to come up with answers to the European, Scottish and English questions. How this can be done is a moot point. At any rate, it is not going to make EU policymaking any easier.

The migration of Ukrainians in times of crisis. OSW COMMENTARY Number 187, 2015-10-19

Before the Russian annexation of Crimea and the outbreak of the conflict in eastern Ukraine, the scale of labour outward migration of Ukrainians had been characterised by a slight downward trend. Back in 2014, an increase in the number of Ukrainians who migrated to Russia was observed, although no similar increase was recorded for EU countries (excluding Poland). The year 2015 brought a more rapid surge in the number of Ukrainians migrating to the EU, again mainly to Poland. Due to the lack of current EU-wide data, estimates can be made based only on data compiled by national statistical offices in countries which are the most popular with Ukrainian migrants. In Poland, as of October 2015 Ukrainians held 52,000 valid residence cards. Much greater migration dynamics have been observed in the case of temporary migration – the number of declarations which enable an individual to take up a temporary job in Poland, issued in the first half of 2015, was a staggering 400,000. This means a more than twofold increase – in the whole of 2014 372,000 declarations were issued to Ukrainian citizens. No similar increase has so far been observed in other EU states, including Italy and the Czech Republic, which have always been popular destinations for Ukrainian migration. In late 2014, 233,000 Ukrainian migrants were registered in Italy (in late 2013 the figure was 191,000), whereas in the Czech Republic the number of Ukrainian migrants remains stable – 104,000 in June 2015.

Seeing the bigger picture: The refugee crisis and the link to CFSP. EPC Commentary, 16 November 2015

The EU’s current approach in dealing with the refugee crisis is not working. Closing borders is certainly not addressing the challenge. The United Nations (UN) recorded more than 218,000 arrivals to Europe in the month of October, almost as many as during the whole of 2014. There is no way of managing these flows – and the crisis itself – if we do not concentrate on the bigger picture.

Challenges for the European Union in times of crisis: reactions

Since the beginning of its existence in the form of communities, this entity faced a lot of challenges that could had been stopped the European dream without the fast, prompt and appropriate reaction of the decision makers. There were a lot of difficult times in its history of more than 60 years but the ambition and need of going forward on the way of integration prevailed and today we can talk about European Union as one of the most important global players, having one of the most complex and fascinating political systems. The tenacity and the willing to succeed off the decision makers made this possible. Moments like “The Empty Chair Crisis“, changes with regards to the decision- making process, convenient for ones but inconvenient for the others, lack of consensus with regards to the new accessions, the big changes that Europe went through in the late 80s etc. showed that the decision makers can have an appropriate response whatever the problem would be and that we must stay together and go on dreaming to a united nation in the form of a federation. Nowadays we are facing maybe the most difficult moment in European Union history. Many of the member states were and still are on the edge. A lot of immediate and prompt actions were taken since the start of financial crisis, either political or economic, drove by the need of going on. We are too much into the integration process, too much dependent one of each other so that we cannot stop and simply go back only to the concept of national state.

Getting the most from public R&D spending in times of budgetary austerity. Bruegel Working Paper 2016/01, February 2016

This working paper reviews the evidence on the impact of public R&D spending. The authors first look at the evidence from micro-analysis of the impact of public intervention on private R&D and innovation, with a focus on the latest results from crosscountry micro-research performed within SIMPATIC. To analyse the impact of public R&D on growth, the micro-results on private R&D investment effects are complemented with a macro-perspective. To this end, the authors look at how public R&D performs in affecting GDP growth and jobs in applied macro-models most commonly used in EU policy analysis. They focus particularly on the NEMESIS model in development within the SIMPATIC project. The authors conclude with some policy recommendations from the reviewed micro and macro SIMPATIC evidence for designing public R&D projects and programmes.

A relevância atual da infografia nos jornais Público e The Times

A infografia é vista constantemente no nosso dia a dia como principal objectivo de nos informar de uma forma gráfica e visual, relativamente a um determinado tema ou momento, trabalhando sempre com informações reais e verdadeiras. O aumento do número e da importância da infografia na comunicação social tem sido exponencial, e notavelmente, a partir das edições online das publicações. Este relatório está dividido em três partes. A primeira tenta enquadrar, muito brevemente, o tema da infografia, a partir de alguns dos melhores exemplos de trabalhos na história da mesma, e explicando a diversidade de géneros de infografia existentes, para além da infografia jornalística. A segunda parte deste relatório, o seu corpo principal, visa a apresentação e divulgação de um projeto de investigação centrado na compreensão do papel da infografia nos jornais Público e The Times, e quais os caminhos que se abrem face às novas tecnologias, em mutação constante. Este estudo assenta principalmente na minha experiência no jornal Público e é comprovado por entrevistas realizadas a Joaquim Guerreiro, Diretor da secção de infografia deste jornal, Mário Cameira, Jornalista visual no jornal The Times, e Ricardo Garcia, o jornalista mais participativo na infografia do jornal Público. Na última parte, faz-se uma breve apresentação e descrição do trabalho desenvolvido durante os seis meses de estágio, apresentando algumas infografias feitas durante este período.

Radiolarian-based paleotemperatures of ODP Site 177-1089 in the Atlantic Sector of the Southern Ocean

Two cores, Site 1089 (ODP Leg 177) and PS2821-1, recovered from the same location (40°56'S; 9°54'E) at the Subtropical Front (STF) in the Atlantic Sector of the Southern Ocean, provide a high-resolution climatic record, with an average temporal resolution of less than 600 yr. A multi-proxy approach was used to produce an age model for Core PS2821-1, and to correlate the two cores. Both cores document the last climatic cycle, from Marine Isotopic Stage 6 (MIS 6, ca. 160 kyr BP, ka) to present. Summer sea-surface temperatures (SSSTs) have been estimated, with a standard error of ca. +/-1.16°C, for the down core record by using Q-mode factor analysis (Imbrie and Kipp method). The paleotemperatures show a 7°C warming at Termination II (last interglacial, transition from MIS 6 to MIS 5). This transition from glacial to interglacial paleotemperatures (with maximum temperatures ca. 3°C warmer than present at the core location) occurs earlier than the corresponding shift in delta18O values for benthic foraminifera from the same core; this suggests a lead of Southern Ocean paleotemperature changes compared to the global ice-volume changes, as indicated by the benthic isotopic record. The climatic evolution of the record continues with a progressive temperature deterioration towards MIS 2. High-frequency, millennial-scale climatic instability has been documented for MIS 3 and part of MIS 4, with sudden temperature variations of almost the same magnitude as those observed at the transitions between glacial and interglacial times. These changes occur during the same time interval as the Dansgaard-Oeschger cycles recognized in the delta18Oice record of the GRIP and GISP ice cores from Greenland, and seem to be connected to rapid changes in the STF position in relation to the core location. Sudden cooling episodes ('Younger Dryas (YD)-type' and 'Antarctic Cold Reversal (ACR)-type' of events) have been recognized for both Termination I (ACR-I and YD-I events) and II (ACR-II and YD-II events), and imply that our core is located in an optimal position in order to record events triggered by phenomena occurring in both hemispheres. Spectral analysis of our SSST record displays strong analogies, particularly for high, sub-orbital frequencies, to equivalent records from Vostok (Antarctica) and from the Subtropical North Atlantic ocean. This implies that the climatic variability of widely separated areas (the Antarctic continent, the Subtropical North Atlantic, and the Subantarctic South Atlantic) can be strongly coupled and co-varying at millennial time scales (a few to 10-ka periods), and eventually induced by the same triggering mechanisms. Climatic variability has also been documented for supposedly warm and stable interglacial intervals (MIS 1 and 5), with several cold events which can be correlated to other Southern Ocean and North Atlantic sediment records.

Abundance of copepods from multinet samples during POLARSTERN cruise ANT-XXII/2 (ISPOL)

The mesozooplankton community, with special emphasis on calanoid copepods, was studied with respect to its species composition, abundance, vertical distribution and developmental structure during the ISPOL expedition to the ice covered western Weddell Sea. Stratified zooplankton tows were carried out nine times between December 1, 2004 and January 2, 2005 with a multiple opening-closing net between 0 and 1000 m depth. Copepods were by far the most abundant taxon contributing more than 94% of the total mesozooplankton. Numerical dominants were cyclopoid copepods, mostly Oncaea spp. A total of 66 calanoid copepod species were identified, but the calanoid copepod community was characterised by the dominance of only a few species. The most numerous species was Microcalanus pygmaeus, which comprised on average 70% of all calanoids. Calanoides acutus and Metridia gerlachei represented other abundant calanoid species contributing an average of 8 and 7%, respectively. All other species comprised less than 3%. The temporal changes in the abundance and population structure of M. pygmaeus and M. gerlachei were small while a shift in the stage frequency distribution of C. acutus was observed during the study: CIV dominated the C. acutus population with 48 to 50% during the first week of December, while CV comprised 48% in late December. CI and CII of C. acutus were absent in the samples and males occurred only in very low numbers in greater depths. In M. gerlachei, CI was not found, whereas all developmental stages of M. pygmaeus occurred throughout the study. All three species showed migratory behaviour, and they occurred in upper water layers towards the end of the investigation. This vertical ascent was most pronounced in C. acutus and relatively weak in the other two species. In M. pygmaeus and M. gerlachei, copepodite stages were responsible for the upward migration in late December, while the vertical distribution of adults did not change. In C. acutus all abundant developmental stages (CIV, CV and females) ascended to upper water layers. Almost exclusively (93%) medium- and semi-ripe females of C. acutus and M. gerlachei were found, and only 3 - 4% of the ovaries were ripe. The absence of CI and the low number of ripe females indicate that the main reproductive period had not started in C. acutus and M. gerlachei until the end of our study in early January. In contrast, the high portion of CI and CII of M. pygmaeus suggests that reproduction of this species had started in October-November and hence, before the onset of the phytoplankton bloom in the water. The community structure did not differ between stations with one exception on December 26, when the station was strongly influenced by the continental shelf.