Ireland gets the new Trio Presidency off to a propitious start. CEPS Commentary, 30 August 2013

The Irish Presidency of the Council of the EU (January-June 2013) faced numerous challenges, not least of which was to negotiate the financial framework for the period 2014-2020 and the reform of the Common Agricultural Policy with the European Parliament, as well as the pressure to advance the banking agenda. Moreover, the fact that it was the start of a new Trio Presidency, the small size of the Irish administration and its fragile financial situation gave rise to some doubts as to how much it could achieve. Nevertheless, this post mortem on the Irish presidency finds that the Irish government approached the task with realism and optimism, a firm focus on results and the strong conviction that a good performance would enhance its reputation at home and in the EU. It is now for Lithuania and subsequently Greece, in the first half of 2014, to continue to tackle the remaining formidable challenges.

La communication hors du commun : aporétique de la communauté inachevée

En prenant pour appui initial le caractère équivoque de la communication, cette dissertation interroge les manières par lesquelles la vie en commun prend aussi effet comme œuvre de mort. S’inspirant du renouvellement de la recherche sur le thème de la communauté, l’interrogation se déploie en trois mouvements principaux. Chacun de ces mouvements ouvre et négocie trois grandes impasses : épistémologique, politique et éthique. La recherche propose de s’y frayer un chemin en s’appuyant principalement sur les travaux de Jean-Luc Nancy, Giorgio Agamben et Roberto Esposito. Le premier mouvement ouvre au voilement de l’idée de communication. L’idée de communication est voilée par une idéologie qui hérite elle-même d’une certaine conception humaniste de la communauté. Un examen de l’essai de Pic de la Mirandole Sur la dignité de l’homme permet d’exposer les valeurs associées à cette tradition qui recouvrent le caractère ambivalent de la communication. Ce premier mouvement mène au seuil de la situation politique contemporaine, marquée notamment par la nécessité de penser « notre » condition après la crise des valeurs humanistes. Le deuxième mouvement s’applique à l’examen de trois événements politiques contemporains. Chacun donne à comprendre comment s’exprime le péril associé à ce voilement : la fusillade au Collège Dawson de Montréal en 2006, un incident impliquant l’usage de gaz lacrymogènes lors de manifestations menées en 2013 à la Place Taksim à Istanbul, en Turquie, et une analyse de la crise de la dette publique grecque. L’aporie qui articule communication et incommunicabilité y est examinée à partir des thèmes de l’incommensurabilité des modes de vie en commun, de la biopolitique et du fascisme. Le fait que le péril qui menace de « nous » partager soit encore, malgré tout, ce que « nous » avons en partage invite à avancer là où aucune voie ne semble s’ouvrir. Le troisième mouvement présente les manières par lesquelles l’aporie de la communication peut être saisie en montrant qu’il est possible de penser par delà l’opposition de la communication et de la non-communication. Ce problème est abordé à l’horizon de la tradition philosophique concernant la question de l’être. Le saisissement du commun comme d’un propre — l’appropriation de l’inappropriable — ouvre à une conception de la communication « hors du commun ». Ces trois mouvements ne portent pas jusqu’à une conclusion. Ils ouvrent plutôt sur une autre conception de la communication. Celle-ci expose la possibilité sans cesse reconduite de l’événement fragile et intime dont « nous » sommes le nom.

Strong governments, weak banks. CEPS Policy Brief No. 305, 25 November 2013

Banks in the northern eurozone have capital ratios that are, on average, less than half of the capital ratios of banks in the eurozone’s periphery. The authors explain this by the fact that northern eurozone banks profit from the financial solidity of their governments and follow business strategies aimed at issuing too much subsidised debt. In doing so, they weaken their balance sheets and become more fragile – less able to withstand future shocks. Paradoxically, financially strong governments breed fragile banks. The opposite occurs in countries with financially weak governments. In these countries banks are forced to strengthen themselves because they are unable to rely on their governments. As a result they have significantly more capital and reserves than banks in the northern eurozone. Recommendations More than in the south, the governments of northern Europe should stand up and force the banks to issue more equity. This should go much further than what is foreseen in the Basel III accord. If the experience of the southern eurozone countries is any guide, banks in the north of the eurozone should at least double the capital and the reserves as a percentage of their balance sheets. Failure to do so risks destroying the financial solidity of the northern European governments when, in the future, negative shocks force these governments to come to the rescue of their undercapitalised banks. The new responsibilities entrusted to the European Central Bank as the single supervisor in the eurozone create a unique opportunity for that institution to change the regulatory and supervisory culture in the eurozone – one that has allowed the large banks to continue living dangerously, with insufficient capital.

Monetary policy and risk taking. Bruegel Working Paper 2010/00, February 2010

We assess, through VAR evidence, the effects of monetary policy on banks’ risk exposure and find the presence of a risk-taking channel. A model combining fragile banks prone to risk mis-incentives and credit constrained firms, whose collateral fluctuations generate a balance sheet channel, is used to rationalize the evidence. A monetary expansion increases bank leverage. With two consequences: on the one side this exacerbates risk exposure; on the other, the risk spiral depresses output, therefore dampening the conventional amplification effect of the financial accelerator. Keywords: monetary policy, bank behavior, leverage, financial accelerator.

Flexibility clauses in the Stability and Growth Pact: No need for revision. CEPS Policy Brief No. 319, 24 July 2014

This Policy Brief offers an in-depth review of the Stability and Growth Pact (SGP) and looks at whether the margins of flexibility within existing rules are sufficient in the current climate of low growth, or whether there is a need to broaden them. The issue is especially relevant as the changing economic environment is raising fresh questions about whether the EU’s current common economic policies are able to manage dismal growth and low inflation. The fragile state of confidence in financial markets and the unresolved but inevitable questions of moral hazard linked to lax fiscal policies mean that no large-scale fiscal expansion to support the recovery of economic activity is feasible. The discussion may therefore only concern the scope within the SGP to accommodate an unexpected drop in economic activity and to provide room for the implementation of structural reforms. Here, we analyse the flexibility clauses of the Stability and Growth Pact under three headings; namely “exceptional circumstances”, “structural reforms and other relevant factors”, and the “investment clause”. Recommendation: Our main conclusion is that the SGP contains sufficient flexibility to accommodate an unexpected drop in economic activity and has the margins needed to finance structural reforms during the transition to the new regime. We therefore see no need to change the existing rules of the SGP. We believe that the ongoing debate about a fresh growth strategy for the eurozone and the European Union would greatly benefit from removing from the Council table ill-formulated and unnecessary demands for greater flexibility in the SGP.

The Sahel Crisis: Where do European and African Perspectives Meet? IES Policy Brief Issue 2013/02/March 2013

Summary. The crisis in Mali has brought the Sahel to the centre of international attention. This fragile region not only suffers from longstanding development challenges, but also from an acute security vacuum that has triggered military intervention. Many questions have arisen as a consequence of the crisis. Has the European Union the ability to cope with such a complex and dynamically evolving security environment? How have divergent views on the political roadmap to be adopted, and the lack of resources at the African level, impacted the crisis response? Can the different players involved agree on what are the most pertinent needs and challenges to be addressed? Are they ready for long-term engagement? Can regional organisations effectively collaborate and are they able to successfully integrate different agendas? Following a conference organised by the Institute for European Studies, the Egmont Institute and the Observatoire de l’Afrique on these questions this Policy Brief builds on the findings of the conference and provides an analytical overview of the regional crisis by focusing on the main challenges facing the Sahel, the local and regional dynamics at play and the military and security response.

From Lampedusa to the Post-Stockholm Programme: Difficult European solidarity in the field of migration. European Policy Brief No. 24, March 2014

Solidarity is a founding principle of the European migration policy. To hold true, Member States must be faithful to their common commitment to European migration rules and implement fair burden sharing of the costs attached to border controls. However, solidarity among Member States appears altogether fragile and under threat, a situation that could jeopardise the founding principle of the free movement of persons in the European Union’s space. The recent solidarity crisis among Member States was solved by an increased externalisation of the European migration policy. Consequently, for the EU to live up to its values, it will have to prove itself generous towards third countries.

Restructuring the Greek banking sector with an empty purse. CEPS Commentary, 13 July 2015

Greek banks are close to collapse, even if a new bail-out programme is agreed soon. The deterioration of the economy means that their fragile capital position is deteriorating further. In this CEPS Commentary, Daniel Gros observes that any new programme needs to include recapitalisation, comprising possibly a bail-in and restructuring to get the banking system working again. With only a small part of the assets unencumbered and a government with empty pockets, the depositors might have to take a large part of the burden. As private investors are unlikely to participate in a recapitalisation, foreign official funds will be needed. A direct equity investment by the EIB or the EBRD could be used to transfer control rights, and special ESM bonds could be used to provide additional capital without entailing additional risk to the creditors

A stable Libya would close the door to Daesh. CEPS Policy Brief No. 340, March 2016

Since the fall of the Gaddafi regime in 2011, everything has seemed to conspire against the transition process in Libya. The idea of a stabilisation force has met political resistance in most European countries, because there is little appetite for long-term interventions that carry a high risk of casualties. This author argues that, among other initiatives, ground forces are nevertheless a necessary component of stabilisation in this fragile country. He makes four recommendations to guide the engagement of external actors.

Bounded seas

Abstract Imprecise manipulation of source code (semi-parsing) is useful for tasks such as robust parsing, error recovery, lexical analysis, and rapid development of parsers for data extraction. An island grammar precisely defines only a subset of a language syntax (islands), while the rest of the syntax (water) is defined imprecisely. Usually water is defined as the negation of islands. Albeit simple, such a definition of water is naive and impedes composition of islands. When developing an island grammar, sooner or later a language engineer has to create water tailored to each individual island. Such an approach is fragile, because water can change with any change of a grammar. It is time-consuming, because water is defined manually by an engineer and not automatically. Finally, an island surrounded by water cannot be reused because water has to be defined for every grammar individually. In this paper we propose a new technique of island parsing —- bounded seas. Bounded seas are composable, robust, reusable and easy to use because island-specific water is created automatically. Our work focuses on applications of island parsing to data extraction from source code. We have integrated bounded seas into a parser combinator framework as a demonstration of their composability and reusability.

La communication hors du commun : aporétique de la communauté inachevée

En prenant pour appui initial le caractère équivoque de la communication, cette dissertation interroge les manières par lesquelles la vie en commun prend aussi effet comme œuvre de mort. S’inspirant du renouvellement de la recherche sur le thème de la communauté, l’interrogation se déploie en trois mouvements principaux. Chacun de ces mouvements ouvre et négocie trois grandes impasses : épistémologique, politique et éthique. La recherche propose de s’y frayer un chemin en s’appuyant principalement sur les travaux de Jean-Luc Nancy, Giorgio Agamben et Roberto Esposito. Le premier mouvement ouvre au voilement de l’idée de communication. L’idée de communication est voilée par une idéologie qui hérite elle-même d’une certaine conception humaniste de la communauté. Un examen de l’essai de Pic de la Mirandole Sur la dignité de l’homme permet d’exposer les valeurs associées à cette tradition qui recouvrent le caractère ambivalent de la communication. Ce premier mouvement mène au seuil de la situation politique contemporaine, marquée notamment par la nécessité de penser « notre » condition après la crise des valeurs humanistes. Le deuxième mouvement s’applique à l’examen de trois événements politiques contemporains. Chacun donne à comprendre comment s’exprime le péril associé à ce voilement : la fusillade au Collège Dawson de Montréal en 2006, un incident impliquant l’usage de gaz lacrymogènes lors de manifestations menées en 2013 à la Place Taksim à Istanbul, en Turquie, et une analyse de la crise de la dette publique grecque. L’aporie qui articule communication et incommunicabilité y est examinée à partir des thèmes de l’incommensurabilité des modes de vie en commun, de la biopolitique et du fascisme. Le fait que le péril qui menace de « nous » partager soit encore, malgré tout, ce que « nous » avons en partage invite à avancer là où aucune voie ne semble s’ouvrir. Le troisième mouvement présente les manières par lesquelles l’aporie de la communication peut être saisie en montrant qu’il est possible de penser par delà l’opposition de la communication et de la non-communication. Ce problème est abordé à l’horizon de la tradition philosophique concernant la question de l’être. Le saisissement du commun comme d’un propre — l’appropriation de l’inappropriable — ouvre à une conception de la communication « hors du commun ». Ces trois mouvements ne portent pas jusqu’à une conclusion. Ils ouvrent plutôt sur une autre conception de la communication. Celle-ci expose la possibilité sans cesse reconduite de l’événement fragile et intime dont « nous » sommes le nom.

Maintenance of coelomic fluid pH in sea urchins exposed to elevated CO2: the role of body cavity epithelia and stereom dissolution

Experimental ocean acidification leads to a shift in resource allocation and to an increased [HCO3-] within the perivisceral coelomic fluid (PCF) in the Baltic green sea urchin Strongylocentrotus droebachiensis. We investigated putative mechanisms of this pH compensation reaction by evaluating epithelial barrier function and the magnitude of skeleton (stereom) dissolution. In addition, we measured ossicle growth and skeletal stability. Ussing chamber measurements revealed that the intestine formed a barrier for HCO3- and was selective for cation diffusion. In contrast, the peritoneal epithelium was leaky and only formed a barrier for macromolecules. The ossicles of 6 week high CO2-acclimatised sea urchins revealed minor carbonate dissolution, reduced growth but unchanged stability. On the other hand, spines dissolved more severely and were more fragile following acclimatisation to high CO2. Our results indicate that epithelia lining the PCF space contribute to its acid-base regulation. The intestine prevents HCO3- diffusion and thus buffer leakage. In contrast, the leaky peritoneal epithelium allows buffer generation via carbonate dissolution from the surrounding skeletal ossicles. Long-term extracellular acid-base balance must be mediated by active processes, as sea urchins can maintain relatively high extracellular [HCO3-]. The intestinal epithelia are good candidate tissues for this active net import of HCO3- into the PCF. Spines appear to be more vulnerable to ocean acidification which might significantly impact resistance to predation pressure and thus influence fitness of this keystone species.