Addressing the immediate needs of the Greek banks. CEPS Commentary, 31 July 2015

Based on a detailed calculation of the recapitalisation requirements of the Greek banks, we find that the sector needs an infusion of capital, but that the level largely depends on the stringency of the capital requirements applied. An expedient quick fix to comply with the minimum capital requirements could be achieved by a bail-in of existing creditors under the EU Bank Recovery and Resolution Directive of around €5 billion, leaving only €6 billion needed for re-capitalisation. If the ‘Cypriot’ standard is applied, however, the required re-capitalisation would be €15 billion. A ‘generous’ approach, which takes into account the phasing in of the new more-stringent capital requirements until 2018, would imply a re-capitalisation of €29 billion (or more bailing-in of creditors). The re-capitalisation should be undertaken preferably by the EIB, the EBRD or the new Greek investment fund, rather than via loans from the ESM to the Greek government.

(Table 1) Concentrations of phthalates in chloroform extracts from waters of the Northwest Indian Ocean and the Red Sea

Chloroform extracts of water-soluble organic matter collected in the water column from the surface to the bottom were studied by C-13 and H-1 NMR chromatographic mass spectrometry, and phthalate concentrations were determined by capillary gas-liquid chromatography. More than 14 compounds were found including diethyl phthalate, ethyl butyl phthalate, dibutyl phthalate, and di-2-ethylhexyl phthalate, phthalates with normal C4-C12 chains, phthalates partially esterified with methanol, and others, at total concentrations up to 0.4 mg/l. Possible reasons for presence of phthalates in oceans, sometimes in high concentrations, are discussed.

Catalogue of works on anthropology, ethnology, primitive society, etc., etc. : also mythology and folk-lore including a portion of the Library of Sir H. H. Risley.

Mode of access: Internet.

The charter of the Union Academy, with a concise account of its origin, etc.

Mode of access: Internet.

Stoughton collection of church music : being a compilation of the most approved sacred music, by ancient and modern authors ... /

Mode of access: Internet.