Should non-euro area countries join the single supervisory mechanism?

Irrespective of the euro crisis, a European banking union makes sense, including for non-euro area countries, because of the extent of European Union financial integration. The Single Supervisory Mechanism (SSM) is the first element of the banking union. From the point of view of non-euro countries, the draft SSM regulation as amended by the EU Council includes strong safeguards relating to decision-making, accountability, attention to financial stability in small countries and the applicability of national macroprudential measures. Non-euro countries will also have the right to leave the SSM and thereby exempt themselves from a supervisory decision. The SSM by itself cannot bring the full benefits of the banking union, but would foster financial integration, improve the supervision of cross-border banks, ensure greater consistency of supervisory practices, increase the quality of supervision, avoid competitive distortions and provide ample supervisory information. While the decision to join the SSM is made difficult by uncertainty surrounding other elements of the banking union, including possible burden sharing, we conclude that non-euro EU members should stand ready to join the SSM and be prepared for negotiations on the other elements of the banking union

A statistical approach for estimating mean maximum urban temperature excess.

Munkánkban a városi hősziget (UHI) maximális napi kifejlődését vizsgáltuk Szegeden, a beépítettségi paraméterek függvényében. A hőmérsékleti adatok valamint a beépítettségi arány, a vízfelszín-arány, az égbolt láthatósági index és az épületmagasság, valamint ezek területi kiterjesztései közötti kapcsolatot statisztikus modellezéssel határoztuk meg. A kapott modell-egyenleteket mindkét félévre (fűtési és nem-fűtési) többváltozós lineáris regresszió segítségével állapítottuk meg. Az eredményekből világosan látszik, hogy szignifikáns kapcsolat mutatható ki a maximális UHI területi eloszlása és a beépítettségi paraméterek között, ami azt jelenti, hogy e tényezők fontos szerepet jatszanak a városi hőmérsékleti többlet területi eloszlásának kialakításában. A városi paraméterek közül az égbolt láthatósági index és az épületmagasság a leginkább meghatározó tényező, ami összhangban van a városi felszín energia-egyenlegével. | Investigations concentrated on the urban heat island (UHI) in its strongest development during the diurnal cycle in Szeged, Hungary. Task includes development of statistical models in the heating and non-heating seasons using urban surface parameters (built-up and water surface ratios, sky view factor, building height) and their areal extensions. Model equations were determined by means of stepwise multiple linear regression analysis. As the results show, there is a clear connection between the spatial distribution of the UHI and the examined parameters, so these parameters play an important role in the evolution of the UHI intensity field. Among them the sky view factor and the building height are the most determining factors, which are in line with the urban surface energy balance

Retention Behaviour of MNOS Memory Devices with Embedded Si or Ge Nanocrystals – Computer Simulation

The charge retention behaviour of MNOS structures with embedded Si or Ge nanocrystals are studied by computer simulation. It is obtained that the oxide thickness and the location of nanocrystlas affect the retention behaviour very strongly. The retention time changes from a few ms to several years. When you are citing the document, use the following link http://essuir.sumdu.edu.ua/handle/123456789/3538

Europe's social problem and its implications for economic growth. Bruegel Policy Brief 2014/03, 1 April 2014

The European Union faces major social problems. More than six million jobs were lost from 2008-13 and poverty has increased. Fiscal consolidation has generally attempted to spare social protection from spending cuts, but the distribution of adjustment costs between the young and old has been uneven; a growing generational divide is evident, disadvantaging the young. The efficiency of the social security systems of EU countries varies widely. Countries with greater inequality tended to have higher household borrowing prior to the crisis resulting in more subdued consumption growth during the crisis. The resulting high private debt, high unemployment, poverty and more limited access to education undermine long-term growth and social and political stability. Policymakers face three main challenges. First, addressing unemployment and poverty should remain a high priority not only for its own sake, but because these problems undermine public debt sustainability and growth. Second, bold policies in various areas are required. Most labour, social and fiscal policies are the responsibility of member states, requiring national reforms. But better coordination of demand management at European level is also necessary in order to create jobs. Third, tax/benefit systems should be reviewed for improved efficiency, inter- generational equity and fair burden sharing between the wealthy and poor

Rethinking the European Union’s post-Brexit budget priorities. Bruegel Policy Brief ISSUE 1 | MARCH 2018

There will be a €94 billion Brexit-related hole in the EU budget for 2021-27 if business continues as before and the United Kingdom does not contribute. The authors show that freezing agriculture and cohesion spending in real terms would fill the hole, but new priorities would then need to be funded by an increase in the percent of GNI contribution

An anatomy of inclusive growth in Europe. Bruegel Blueprint Series 26, October 2016

This Blueprint offers an in-depth analysis of inequalities of income and wealth in the EU, as well as their causes and consequences. How evenly are the benefits of growth distributed in our economies, and what does this mean for fairness and social mobility? How could and should policymakers react?

So far apart and yet so close: Should the ECB care about inflation differentials?

Inflation rates can differ across regions of monetary unions. We show that in the euro area, the US, Canada, Japan and Australia, inflation rates have been substantially and persistently different in different regions. Differences were particularly substantial in the euro area. Inflation differences can reflect normal adjustment processes such as price convergence or the Balassa-Samuelson effect, or can reflect the different cyclical position of regions. But they can also be the result of economic distortions resulting from segmented markets or unsustainable demand and credit developments fuelled by low real interest rates. In normal times, the European Central Bank cannot influence such developments with its single interest rate instrument. However, unconventional policy measures can have different effects on different countries depending on the chosen instrument, and should be used to reduce fragmentation and ensure the proper transmission of monetary policy. The new macroprudential policy tools are unlikely to be practical in addressing inflation divergences. It is crucial to keep the average inflation rate close to two percent so that inflation differentials are possible without deflation in some parts of the euro area, which in turn might endanger area-wide financial stability and price stability

So far apart and yet so close: Should the ECB care about inflation differentials? Bruegel Policy Contribution, Issue 2014/10 September 2014

Inflation rates can differ across regions of monetary unions. We show that in the euro area, the US, Canada, Japan and Australia, inflation rates have been substantially and persistently different in different regions. Differences were particularly substantial in the euro area. Inflation differences can reflect normal adjustment processes such as price convergence or the Balassa-Samuelson effect, or can reflect the different cyclical position of regions. But they can also be the result of economic distortions resulting from segmented markets or unsustainable demand and credit developments fueled by low real interest rates. In normal times, the European Central Bank cannot influence such developments with its single interest rate instrument. However, unconventional policy measures can have different effects on different countries depending on the chosen instrument, and should be used to reduce fragmentation and ensure the proper transmission of monetary policy. The new macro prudential policy tools are unlikely to be practical in addressing inflation divergences. It is crucial to keep the average inflation rate close to two percent so that inflation differentials are possible without deflation in some parts of the euro area, which in turn might endanger area-wide financial stability and price stability

Genotoxikus hatásra bekövetkező funkcionális és strukturális DNS változások = Functional and structural changes in DNA upon genotoxic effects

Morfológiai és biokémiai vizsgálataink arra utalnak, hogy a a genotoxikus hatások kategorizálhatók az okozott kromatin változások alapján. A kemotoxikus változások potenciális diagnosztikus jelentősége miatt vizsgáltuk a nehézfémek (elsősosrban kadmium) (Banfalvi et al., 2005), a gamma sugárzás (Nagy et al., 2004), az UVB sugárzás (Ujvárosi et al., 2007) és a carcinogén (dimetilnitrózamin) hatására bekövetkező kromatin változásokat (Trencsényi et al., 2007). Kadmium kezelés jellegzetes szakadásokat és nagy lyukakat hozott létre a sejtmagban. A gamma sugárzás preapoptotikus hatására: a. a sejtek és sejtmagok mérete megnőtt, b. DNA tartalmuk a sejtciklus minden szakaszában kisebb volt a normál kezeletlen populációhoz képest, c. a sejtciklus a korai S fázisban leállt (2,4 C értéknél), d. a kromatin kondenzálás annak fibrilláris szakaszában akadt el, e. az apoptotikus testek száma és nagysága a sejtciklus haladásávalfordítva arányos: sok apró apoptotikus testtel az S fázis elején és kevés nagy apoptotikus testtel az S fázis végén. A CHO sejtekben mért vizsgálatokat humán K562 sejteken megerősítettük. UVB sugárzás hatására a kromoszómák nem voltak láthatók, a sérülés hatására vékony összefüggő kromatin fátyol vonta be mind az interfázisos, mind a metafázisos kromoszómákat. | Morphological and biochemical studies after genotoxic treatments suggest that the consequences of various chromatin injuries can be categorized based on the assessment of injury-specific chromatin changes. Due to its diagnostic significance, we have started to determine and systematize the effects of heavy metals, primarily cadmium treatment (Banfalvi et al., 2005), gamma irradiation (Nagy et al., 2004) and UV irradiation (Ujvarosi et al., 2007). After cadmium treatment and have seen the same large extensive disruptions and holes in the nuclear membrane and sticky incompletely folded chromosomes typical for cadmium treatment (Nagy et al., 2004; Banfalvi et al., 2007). Preapoptotic changes upon γ-irradiation manifested as: (a) The cellular and nuclear sizes increased. (b) The DNA content was lower in each elutriated subpopulation of cells. (c) The progression of the cell cycle was arrested in the early S phase at 2.4 C value. (d) The chromatin condensation was blocked at its fibrillary stage. (e) The number and size of apoptotic bodies were inversely correlated with the progression of the cell cycle, with many small apoptotic bodies in early S phase and less but larger apoptotic bodies in late S phase (Nagy et al., 2004). Similar observations were made in K562 cells (Banfalvi et al., 2007). UV irradiation blocked chromatin condensation at its fibrillary stage, nuclear structures were blurred and covered with fibrillary chromatin, neither interphase nor metaphase chromosomes were visible

The long haul: Managing exit from financial assistance

Countries can make a clean exit from financial assistance, or enter a new programme or a precautionary programme, depending on the sustainability of their public debt and their vulnerability to shocks. Ireland made a clean exit in December 2013, supported by significant budgetary and current-account adjustment and signs of economic recovery. But Irish debt sustainability is not guaranteed and prudence will be needed to avoid future difficulties. A clean exit for Portugal is not recommended when its programme ends in May 2014, because compared to Ireland it faces higher interest rates, has poorer growth prospects and has probably less ability to generate a consistently high primary surplus. A precautionary arrangement would be advisable. In case debt sustainability proves dif- ficult to achieve later, some form of debt restructuring may prove necessary. It is unlikely that Greece will be able to exit its programme in December 2014. A third programme should be put in place to take Greece out of the market until 2030, accompanied by enhanced budgetary and structural reform commitments by Greece, a European boost to economic growth in the euro-area periphery and willingness on the part of lenders to reduce loan charges below their borrowing costs, should public debt levels prove unsustainable despite Greece meeting the loan conditions. Even assuming all goes well, the three countries will be subject to enhanced post-pro- gramme surveillance for decades. Managing such long-term relationships will be a key challenge