Partnership in times of crisis: challenges for the Eastern European countries' integration with Europe. OSW Point of View Number 36, July 2013

Over the four years since its launch, the Eastern Partnership initiative has created frameworks and mechanisms for the integration of Eastern Partnership countries with the European Union. Despite this, the partner countries have so far made little meaningful progress in modernisation, implementation of reforms or integration with the EU.Since the European Neighbourhood Policy was launched in 2004, the situation in areas of key importance for the EU, such as democratisation, free-market transformations, European integration, political stability and regional security, has not improved significantly. In this context, it is legitimate to ask questions about the extent to which the European Neighbourhood Policy and the Eastern Partnership have brought the Union closer to achieving its declared objectives in the relations with eastern neighbours. What is the underlying cause of the dwindling involvement and declining interest in achieving real progress in integration? How may the events that have been dominating the political agenda – i.e. the EU’s financial crisis, the debate on the future of the Union, but also the political processes taking place within the partner countries – affect the future of mutual relations?

The Political Economy of Financial Crisis Policy. Bruegel Working Paper 2015/06, July 2015

Highlights • Government intervention to stabilise financial systems in times of banking crises ultimately involves political decisions. This paper sheds light on how certain political variables influence policy choices during banking crises and hence have an impact on fiscal outlays. • We employ cross-country econometric evidence from all crisis episodes in the period 1970-2011 to examine the impact political and party systems have on the fiscal cost of financial sector intervention. • Governments in presidential systems are associated with lower fiscal costs of crisis management because they are less likely to use costly bank guarantees, thus reducing the exposure of the state to significant contingent and direct fiscal liabilities. Consistent with these findings we find further evidence that these governments are less likely to use bank recapitalisation and more likely to impose losses on depositors.

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.

The Pan-American Financial Conference of 1915.

"Writings and speeches ... published or delivered at various times and in different places."--Prefatory note.

The New York Times annalist : a magazine of finance, commerce, and economics.

Title from cover.

The Commercial & financial chronicle and Hunt's merchant's magazine.

A weekly newspaper, representing the industrial and commercial interests of the United States.

Financial pamphlets

A collection of miscellaneous pamphlets on finance.

Financial pamphlets

A collection of miscellaneous pamphlets on finance.

Assessing personal financial management in patients with bipolar disorder and its relation to impulsivity and response inhibition

Introduction: Impulsivity and risk-taking behaviours are reported in bipolar disorder (BD). We examined whether financial management skills are related to impulsivity in patients with BD. Methods: We assessed financial management skills using the Executive Personal Finance Scale (EPFS), impulsivity using the Barratt Impulsiveness Scale (BIS) and response inhibition using an emotional go/no-go task in bipolar individuals (N = 21) and healthy controls (HC; N = 23). Results: Patients had fewer financial management skills and higher levels of impulsivity than HC. In patients and controls, increased impulsivity was associated with poorer personal financial management. Patients and HC performed equally on the emotional go/no-go task. Higher BIS scores were associated with faster reaction times in HC. In patients, however, higher BIS scores were associated with slower reaction times, possibly indicating compensatory cognitive strategies to counter increased impulsivity. Conclusions: Patients with BD may have reduced abilities to manage personal finances, when compared against healthy participants. Difficulty with personal finance management may arise in part as a result of increased levels of impulsivity. Patients may learn to compensate for increased impulsivity by modulating response times in our experimental situations although whether such compensatory strategies generalize to real-world situations is unknown.

The transition times of the banking system in South-eastern Europe

The paper analyses the commercial banking sector's development in southeastern Europe during the transition period. The transition of the banking sector evolved - or is still evolving - parallel with the general economic transition. However, due to its complexity and the widespread factors that influence its activity, its development was a slow and gradual process with occasional systemic meltdowns. The paper proves that despite the different legacies, initial condition, applied economic policies, and historical events, the banking sector's structure became similar in all country cases by the end of the transition period. This similarity could be explained by the mutual challenges and the financial globalisation.