Recycling Mechanisms — a Survey of Current Policy Options

SUMMARY Recycling by the private banking system contributed to maintaining global activity in the 1970s, but the capacity of the banks to continue this role in the 1980s is in considerable doubt. Various proposals have been advanced to provide a surrogate for the private banks. One proposal by a Commonwealth group, and another, the Gutowski/Roth plan, would attempt to link official arrangements for protecting the real value of OPEC assets with the long term financing of developing country deficits. Unfortunately, such schemes do not appear to be politically feasible. A variant which may have more chance of success would give the EEC a central role. The EEC should make a unilateral offer to provide inflation?indexed securities to OPEC surplus subscribers provided that OPEC shows restraint in its oil price rises; in turn, OPEC should convert price rises into concessional loans to oil importing developing countries. RESUMEN Mecanismos de reciclaje. Une examen de las opciones poléticas actuales El reciclaje del sistema bancario privado, contribuyó a mantener la actividad global en la década de 1970. Sin embargo, la capacidad de los bancos para continuar desempeñando este rol en la década de 1980, está en tela de juicio. Se han hecho varias proposiciones para proveer un substituto de los bancos privados. Una de ellas proviene de un grupo de la Commonwealth y otra del plan Gutowski/Roth, intentando ambas vincular acuerdos oficiales para proteger el valor real de los activos de la OPEP, con el financiamiento a largo plazo de los déficits de los países en desarrollo. Lamentablemente, tales programas no parecen políticamente factibles. Una variante que podría tener mayores posibilidades de éxito, consistiría en otorgar un rol central a la CEE. Esta debería hacer una oferta unilateral para proporcionar seguridades de índices inflacionarios a los suscriptores de excedentes de la OPEP, provisto que ésta demuestre moderación en las alzas de precio del petróleo. A su vez, la Organización debería convertir las alzas de precios en préstamos preferenciales a los países en desarrollo, importadores de petróleo. RÉSUMÉ Méchanismes de Recyclage — une étude des options de la politique actuelle Le recyclage par le système de banques privées contribua à maintenir une activité globale dans les années 70, mais l'aptitude de ces banques à continuer à jouer ce rôle dans les années 80 est fortement en doute. De nombreuses propositions ont été avancées pour trouver un substitut aux banques privées. Une proposition par un groupe du Commonwealth, et une autre, le plan Gutowski/Roth, tenteraient d'associer les arrangements officiels pour protéger la valeur réelle des avoirs de l'OPEP avec le financement à long?terme des déficits des pays en voie de développement. Malheureusement, de tels projets ne semblent pas être politiquement viables. Une alternative qui aurait plus de chance de réussir donnerait à la CEE un rôle central. La CEE devrait faire une offre unilatérale pour procurer aux souscripteurs excédentaires de l'OPEP des valeurs indexées à l'inflation à la condition que l'OPEP montre une certaine retenue dans ses augmentations de prix du pétrole; en retour, l'OPEP devrait convertir les augmentations de prix en prêts concessionnels aux pays en voie de développement importateurs de pétrole

EEC Mineral Policy — Some Proposals for Change in the 1980s

SUMMARY The EEC perceives a mutuality of interest between itself and the Third World in the area of minerals. This was the basis for the introduction in the second Lomé Convention of several mineral?related instruments, including the Sysmin scheme, possible joint?financed mining projects, and a window for EIB lending to mining and energy. Of these, the Sysmin scheme was the most substantial, but its implementation so far has revealed a number of problems. In view of the very modest success of these measures, there is a need for new initiatives, particularly in three areas of potential mutual advantage: the promotion of exploration, emergency purchases of minerals from selected ACP states when prices are exceptionally low, and the encouragement of mineral revenue stabilisation funds. RESUMEN Política minera de la CEE. Algunas proposiciones de cambio para la décade de 1980 La CEE percibe la existencia de intereses mutuos entre ella y el Tercer Mundo en el área de los minerales. Esta fue la base para la introducción de varios instrumentos relativos a la minería en la Segunda Convención de Lomé, incluyendo el programa Sysmin, posibles proyectos mineros de financiamiento conjunto y una ventanilla para préstamos del BEI a la minería y la energía. El más sustancial de éstos fue el programa Sysmin, no obstante que hasta ahora su implementación ha revelado algunos problemas. El éxito muy modesto de estas medidas, demuestra la necesidad de nuevas iniciativas, especialmente en tres áreas de la mutua ventaja potencial: la promoción de exploraciones, el surgimiento de compras de minerales por parte de estados seleccionados del Africa, Caribe y Pacífico, cuando los precios son excepcionalmente bajos y, el fomento de fondos de estabilización de utilidades mineras. RÉSUMÉ La Polétique Minérale de la CEE — Quelques Propositions de Changements pour les années 80 La CEE entrevoit un intérêt mutuel entre elle et le Tiers?Monde dans le secteur des minéraux. Cela était à la base de l'introduction, lors de la deuxième Convention de Lomé, de plusieurs mécanismes relatifs aux minéraux, comprenant le plan Sysmin, d'éventuels projets d'exploitation minière conjointement financés, et une ouverture pour un prêt de la BIE à l'exploitation minière et à l'énergie. De tous, le plan Sysmin était le plus important, mais son exécution a jusqu'à présent soulevé quelques problèmes. Etant donné le succès très modeste de ces mesures, de nouvelles initiatives sont nécessaires, particulièrement dans trois domaines à avantage mutuel potentiel: la promotion de l'exploration, achats urgents de minéraux provenant d'une sélection d'états d'ACP à un moment où les prix sont exceptionnellement bas, et l'encouragement de fonds de stabilisation des revenus minéraux

Does Europe Really Have a Unique Role?

SUMMARY The EEC Commission claims that a common development policy is good for Europe. But is it good for the Third World? Are there any intrinsic features of the EEC that invest it with the potential to achieve more on the North?South stage than can the member states or other agencies like the World Bank? Alternatively, are there superficial features of the present politico?institutional environment that provide the Community with tactical advantages (or disadvantages) over the member states? The answer to the first question is that there are very few inherent features of the EEC that justify a claim that the Third World has anything to gain from a common European policy. The most substantial is the EEC's predilection for regional groupings. However, the answer to the second question is that Community action does have comparative advantages (and disadvantages) compared to national actions by the 10 member states. They suggest that the EEC should emphasise its capacity to take a broad view of North?South relations, and that, while it is unlikely to become a particularly effective aid agency, it could make a useful contribution to a redefinition of conditionality in respect of programme aid. Unfortunately, there are signs that the Commission may be heading off in precisely the opposite direction. RESUMEN ¿Tiene Europa realmente un rol especial? La comisión de la CEE afirma que una politica común de desarrollo es buena para Europa. No obstante ¿es conveniente para el Tercer Mundo? ¿Tiene la CEE características intrínsecas que la revistan de capacidad para realizar más en el escenario Norte?Sur, que lo que pueden hacer los estados miembros u otras agencias tales como el Banco Mundial? Por otra parte ¿existen características formales en el ambiente político institucional actual que la provean de tácticas ventajosas o desventajosas en relación a los estados miembros? La respuesta a la primera pregunta es que hay muy pocas características inherentes a la CEE que justifiquen la pretensión de que el Tercer Mundo tenga algo que ganar de una política europea común. Lo más importante reside en la predilección de la CEE por las agrupaciones regionales. Sin embargo, la respuesta a la segunda pregunta es que efectivamente la acción común tiene ventajas y desventajas en relación a las acciones nacionales de los diez estados miembros. Este hecho sugiere que la CEE debería enfatizar su capacidad para adoptar una visión amplia de las relaciones Norte?Sur y que, siendo improbable que se transforme en una agencia de ayuda especialmente eficiente, podría hacer una contribución útil en la redefinición de la condicionalidad con respecto al programa de ayuda. Lamentablemente, hay signos de que la CEE está orientándose precisamente en dirección opuesta. RÉSUMÉ L'Europe a?t?elle Vraiment un Rôle Unique à Jouer? La Commission de la CEE prétend qu'une politique commune de développement est bénéfique pour l'Europe. Mais est?elle bénéfique pour le Tiers?Monde? La CEE a?t?elle des caractéristiques intrinsèques lui permettant d'espérer un meilleur résultat sur la question Nord?Sud que les états?membres ou autres organisations telle que la Banque Mondiale? Ou bien, existe?t?il des caractéristiques superficielles de l'environnement politico?institutionnel actuel donnant à la Communauté des avantages tactiques (ou des désavantages) sur les états?membres? La réponse à la première question est qu'il y a très peu de caractéristiques propres à la CEE qui justifient l'argument que le Tiers?Monde a quelque profit à tirer d'une politique européenne commune. La plus importante est la prédilection de la CEE aux regroupements régionaux. Toutefois, la réponse à la deuxième question est que les mesures prises par la Communauté ont des avantages (ou des désavantages) relatifs en comparaison avec des mesures nationales par les dix états?membres. Ils suggèrent que la CEE devrait souligner son aptitude à une vue plus générale des relations Nord?Sud, et que, bien qu'il soit peu probable qu'elle devienne un organisme d'assistance particulièrement effectif, elle pourrait contribuer fructueusement

An exploration of Cava wineries: A resource-based approach

Purpose: The purpose of this exploratory study is to identify the most important resources, and emerging issues among Spain’s Cava wineries, including opportunities and challenges, from predominantly winery operators, and through the lens of the resource-based view of the firm (RBVF). Design/methodology/approach: Unstructured, face-to-face, in-depth interviews were conducted with the representatives of five Cava firms, and with the manager of the local Institute of Cava in Sant Sadurní d’Anoia, Spain. In addition, owners/managers of seven other Cava wineries provided responses and comments via email. Findings: The attributes pertaining to the RBVF, such as valuable, rare, imperfect imitable resources, and (non)substitutability emerged in the present study, illustrated by the local designation of origin (DO), tradition/history, territory, specific grape varietals, and increased perceived quality of Cava products. In order to address pressing challenges and maximise opportunities, particularly the decline of domestic Cava consumption, participants underline strategies to gain more exposure in international wine consumer markets, and also benefit from the growing popularity of gastronomy and wine tourism. Originality/value: Originality and value in this research are demonstrated in two ways. First, the study focuses on a region, which, despite its long history and tradition, has received limited attention from the academic literature, especially in recent years. Second, the study adopts the RBVF to facilitate understanding of contemporary issues affecting Cava wineries, and in aligning theory and findings. To date, this theoretical framework has been marginally adopted to examine the wine industry; this limitation is even more evident within the Cava industry

Cytosorb® haemoadsorption: a potential game changer for patients needing myocardial surgical revascularisation

Cytosorb, an extracorporeal blood purification system, utilises the principles of haemoadsorption to remove low molecular weight substances from the blood, including multiple cytokines such as interleukin (IL)-1b, IL-6, IL-8, and tumour necrosis factor-α, and anti-platelet drugs aiming to improve clinical outcomes. Given the prominent role of pro-inflammatory cytokines in various inflammatory states, Cytosorb has seen growing application as a therapeutic immunomodulator including surgery. This review focuses on the effects of the use of Cytosorb in patients undergoing coronary artery bypass grafting (CABG) and the indications of removal of cytokines and anti-platelet agents such as ticagrelor. The evidence supports the feasibility and safety profile of Cytosorb, with no device-related adverse events reported in all studies. Initial studies suggest significant potential for Cytosorb in urgent or emergency CABG surgery to remove anti-platelet medication with promising benefits on clinical outcomes including fewer blood product transfusions, decreased length of intensive care unit stay, and lower re-sternotomy rates. Furthermore, a cost saving analysis indicated that intraoperative removal of ticagrelor with Cytosorb would be cost effective in the setting of emergency cardiac surgery. However, the evidence remains inconclusive when Cytosorb is used in elective CABG surgery for cytokine removal. Definite high quality clinical trials for both indications for Cytosorb in CABG surgery are needed to clarify if there is a clinically significant benefit in clinical outcomes. There is substantial trial activity for the application of Cytosorb in higher risk cardiac surgery to establish the place of Cytosorb in future treatment pathways in cardiac surgery

P171Elevated free fetal haemoglobin threatens vasculoprotection in the fetal circulation of preeclamptic pregnancy

Placental up-regulation of free fetal haemoglobin (fHbF) occurs in preeclamptic (PE) pregnancy. Heme oxygenase-1 (HO-1) is an important vasculoprotective enzyme in the catabolism of the associated heme porphyrin structure. We have previously shown that fHbF negatively influences the vasculoprotective capacity of the fetal circulation. Here we study fHbF levels in the fetal cord blood of pregnancies complicated by PE; a pathology associated with dysregulated fetoplacental vascular tone. We have previously shown that fHbF binds nitric oxide (NO) to elicit elevated vascular resistance in the fetoplacental circulation, using ex vivo human dual placental perfusion and in vitro placental endothelial cell shear stress studies. Furthermore, fHbF causes morphological changes to the fetoplacental endothelium. Here we hypothesise that elevated levels of fHbF in fetal plasma associated with placental pathology contribute to fetoplacental hypertension. Purpose: To evaluate and derive a robust cord blood collection and processing protocol for the accurate measurement of fetal plasma fHbF levels in normal and PE pregnancies. Methods: Fetal venous cord blood was collected by syringe and needle, or Vacutainer method into either EDTA or citrate tubes, within 10 minutes of partum. Plasma recovery occurred immediately, or after 30 minutes, prior to centrifugation at 2000g x 10 min at room temperature. Following evaluation to reduce mechanical haemolysis, newly collected normal & PE plasma (n=13 & 6, respectively) was subjected to ELISAs for HbF and HO-1. Results: Venipuncture collection of cord venous blood taken from the cord-placenta insertion point by Vacutainer system with a 21G needle, into citrate collection tubes with immediate centrifugation prevented mechanical haemolysis. There was no difference in plasma HO-1 between groups (medians = 5.9 & 5.3 ng/mL; normal & PE, respectively; Mann-Whitney). Whilst there was no difference in fHbF between groups (Mann-Whitney), variability was high in the PE group and there were some very high values for fHbF compared to the normal range, whilst fHbF values in the control group were within a tighter lower range (medians & ranges = 45.9 & 0-206 and 118.8 & 29-640 μg/mL). Conclusion: Fetal plasma HO-1 levels appear stable in preeclamptic fetal plasma, permitting fHbF to remain unchecked in some cases. High pathophysiological levels of fHbF in some cases of PE pregnancies are capable of evoking elevated vascular resistance within the fetoplacental circulation, caused by nitric oxide sequestration and disruption to the endothelium. Further evaluation is require

The Variations in Religious and Legal Understandings on Halal Slaughter

Purpose: This paper attempts to provide an overview of different understandings regarding the concept of "what constitutes halal" and "who determines this concept?" In practice, this equates to contemporary legal understandings versus religious understandings. The paper further aims to provide an overview of competing Muslim understandings regarding the concept of "What does or does not constitute halal slaughter?" In practice, this equates to evaluating the application of no stunning at all upon an animal (unanimous acceptance) versus the application of reversible stunning upon an animal (contested). Design: The study includes a review of priori literature and considers the current scenario of the halal poultry trade and raises important questions regarding Islamic dietary practices, halal food integrity, religious and animal welfare understandings. Three key questions were raised: "To what extent does stunning impact halal slaughter?’, ‘Who determines what is halal slaughter?’ and ‘What are the variations and tensions between legal and religious understandings of halal slaughter?’ Findings: The examination of such requirements and concomitant consumer and provider expectations is underpinned by a study of an operational framework, i.e. industry practices with poultry (hand slaughter, stunning, mechanical slaughter, etc.), ethical values and market forces to appraise whether there is a point of convergence for these that can be beneficial for both seller and consumer concerns. This paper has considered different perspectives on the religious slaughter and provided an overview of competing understandings regarding the above concepts. Originality/value – This study although academic and philosophical in nature, raises questions on route to suggesting future research directions. It provides real value in stimulating more research in the area of halal food production and contributes to the understanding of different slaughter requirements for religious slaughter and the meat industry. It further sheds light on not only the religious and secular legal frameworks on animal slaughter and welfare but also the variations in understanding between them and provides examples of attempts to bridge any gap. The paper highlights the importance of halal food based on religious values and its implications for wider society