Countries under Adjustment Programmes: What role for the ECB? CEPS Special Report No. 124, December 2015

Providing ‘technical assistance/advice’ on programmes for countries under financial stress is well within the mandate of the European Central Bank (ECB). Being fully part of the Troika, however, is a different role. Formally the ECB does not participate in the ‘decision-making’ on programmes (decisions are taken by the Finance Ministers – and the IMF). However, the ECB is part of the ‘decision-shaping’ process. These two roles have often been confused. The ECB should interpret its formal role in future ESM (European Stability Mechanism) programmes as narrowly as possible. Providing advice but avoid taking part in the operational work of programme surveillance. The ECB should de facto leave the Troika. At any rate, future incidents like the Italian or Spanish letters will be superseded by the OMTs (outright monetary transactions) and an Irish-type situation would be shaped by the legal framework of the Bank Recovery and Resolution Directive (BRRD) and the potential funding from the Single Resolution Fund (SRF). An additional issue for the ECB is internal coherence: Its six-member Executive Board manages the participation in the Troika, monetary policy is decided by the Governing Council and banking supervision is under the Supervisory Board, separated in principle by Chinese walls from the (rest of the) ECB.

(Table T1) Ages of white mica clasts in core samples of ODP Hole 210-1276A

Fifty-seven white mica clasts were separated from five samples taken from near the bases of turbidites ranging in age from early Albian to middle Eocene. Twenty two (39%) of the micas have ages between 260 and 340 Ma and five (9%) have older ages (~400-600 Ma). The former age range is characteristic of the North American Alleghenian orogeny and the Iberian Variscan orogeny. The latter range is characteristic of the North American Acadian orogeny and older basement rocks in the Grand Banks and Newfoundland areas. Both age ranges are present in the middle Eocene sample, but only the younger range occurs in the middle Albian sample. This difference could be a sampling artifact. If this is not the case, then the most likely explanation is that the Acadian-aged micas within the Meguma Zone underlying the Grand Banks were totally reset by Alleghenian reactivation of the zone, a feature which occurs extensively in Nova Scotia. The addition of Acadian-aged micas in the middle Eocene sample may reflect a change in sediment provenance as drainage systems unrelated to rift topography developed. With the exception of one clast dated at 186 Ma, the 12 other micas obtained from the upper Paleocene sample yielded ages between 55 and 74 Ma, with 7 falling within ±2 m.y. of the 57-Ma age of the sample indicated by the biostratigraphic age-depth plot for Site 1276. This, together with the volcaniclastic content of the sample, indicates an input from near-contemporaneous volcanism. The nearest known occurrences of near-contemporaneous late Paleocene volcanism that could have produced white micas are in Greenland and Portugal, some 2000 and 1500 km distant, respectively, from Site 1276 during the Paleocene. However, ages of volcanism in these areas indicate that they could probably not be sources of micas younger than 60 m.y., which suggests some as-yet unknown volcanic source in the North Atlantic area. Accumulation in the Grand Banks area of airborne-transported volcaniclastic material from eruptions of slightly different ages, followed by a single resedimentation event, could account for the spread of dates obtained from the sample. White micas from the lowermost Albian sample show a spread of ages between 37 and 284 Ma that is completely different from the age distribution pattern of the middle Albian and middle Eocene samples. The sample location is between, and at least 25 m above and below, two igneous sills dated at 98 and 105 Ma. The sills have narrow thermal aureoles and ages older than the youngest detrital micas in the sample. It is unlikely, therefore, that the spread of mica ages in the sample is due to partial resetting of ages caused by thermal effects associated with the intrusion of the sills. The resetting may have been associated with a longer lived thermal event.

Bellingshausen Sea bathymetric compilation

The southern Bellingshausen Sea (SBS) is a rapidly-changing part of West Antarctica, where oceanic and atmospheric warming has led to the recent basal melting and break-up of the Wilkins ice shelf, the dynamic thinning of fringing glaciers, and sea-ice reduction. Accurate sea-floor morphology is vital for understanding the continued effects of each process upon changes within Antarctica's ice sheets. Here we present a new bathymetric grid for the SBS compiled from shipborne echo-sounder, spot-sounding and sub-ice measurements. The 1-km grid is the most detailed compilation for the SBS to-date, revealing large cross-shelf troughs, shallow banks, and deep inner-shelf basins that continue inland of coastal ice shelves. The troughs now serve as pathways which allow warm deep water to access the ice fronts in the SBS. Our dataset highlights areas still lacking bathymetric constraint, as well as regions for further investigation, including the likely routes of palaeo-ice streams. The new compilation is a major improvement upon previous grids and will be a key dataset for incorporating into simulations of ocean circulation, ice-sheet change and history. It will also serve forecasts of ice stability and future sea-level contributions from ice loss in West Antarctica, required for the next IPCC assessment report in 2013.

Observation of manganese deposits made during the 1936 transect of C/S Lord Kelvin through the Northern Atlantic Ocean

In May and June 1936 Dr. C. S. Piggot of the Geophysical Laboratory, Carnegie Institution of Washington, took a series of 11 deep-sea cores in the North Atlantic Ocean between the Newfoundland banks and the banks off the Irish coast. These cores were taken from the Western Union Telegraph Co.'s cable ship Lord Kelvin with the explosive type of sounding device which Dr. Piggot designed. All but two of these cores (Nos. 8 and 11) are more than 2.43 meters (8 feet) long, and all contain ample material for study. Of the two short cores, No. 8 was taken from the top of the Faraday Hills, as that part of the mid-Atlantic ridge is known, where the material is closely packed and more sandy and consequently more resistant; No. 11 came from a locality where the apparatus apparently landed on volcanic rock that may be part of a submarine lava flow.

Chicago securities.

Description based on: 5th (1895).

Pamphlets on currency.

Binder's title.

The Elector's guide. Addressed to the freeholders of the county of York.

No. I. The "Catholic question".--No. II. The general state of the country banks and paper money; Death of Alexander, emperor of Russia; State of parties in the kingdom; A letter to Fountayne Wilson, esq.; Duncombe and the treadmill; Poetry and miscellanies.--No. III. A letter to the Duke of York; Auri sacra fames; or, Sturdy beggars: a county job; Church Methodism; A Protestant confessor; His Majesty's speech to Parliament; Miscellanies, and poetry.--No. IV. A letter to Daniel Sykes, esq. on West Indian slavery; Catholic and Protestant; The last man; Confidence in banks; Hints to electors; The proceedings in Parliament, &c., &c., &c.--No. V. An address to the suffering people of England; Slavery; A letter to Sir John Bayley, knt,; Banks; The Protestant champion; Poetry, &c., &c.--No. VI. A charge of His Grace the Archbishop of York to the clergy of the diocese; A secret; A good action.--No. VII. Observations upon county representation; A full account of the county meeting, &c., &c.

The New York judicial repository,

[New York, Baker, Voorhis & co., 1935]

Cases on sales of personal property,

Mode of access: Internet.

Annual report /

Title from cover.

Amerika, in alle zyne byzonderheden beschouwd : ter verkryging eener naauwkeurige kennis van dat thans zo veel gerucht maakend waerelddeel : met twee kaarten van Zuid- en- Noord-Amerika opgehelderd.

Refers to : Recherches philosophiques sur les Américains, ou Mémoires intéressants pour servir à l'histoire de l'espece humaine. Par Mr. de P***. Avec une Dissertation sur l'Amérique & des Américains, par Don Pernety. Et la Défense de l'auteur les Recherches centre cette dissertation ... ; also History of America / William Robertson; also Bougainville, d'Ulloa, Kalm, Cook, Banks and Solander.

Report ... made to the assembly, Feb. 13, 1829.

Mode of access: Internet.

Economic history pamphlets

A collection of miscellaneous pamphlets.

Annual report of the Commissioner of Insurance of Virginia.

"Fire, marine, life and miscellaneous companies and fraternal associations" (varies slightly)

Annual report of the commissioner.

Reports treating chiefly of insurance. Brief reports of the State library are included, 18__-19__.