Cross-border resolution of failed banks in the EU: A search for the second-best policies

This paper analyzes the reasons for the failure of the multilateral resolution of EU cross-border banks such as Fortis. We argue that the pre-crisis regime based on soft law and voluntary coordination was unable to align the incentives of national authorities acting under the time pressure and uncertainty of a banking crisis. We ask whether this experience induced the Commission to propose reforms that would close the regulatory gap between integrated cross-border banks and national resolution regimes. Although, the Commission proposals submitted within a year of the crisis considered the more radical reform options, such as shifting the regime to the EU level or reorganizing cross-border banks so that they could be resolved on the national level, in the end the Commission supported the traditional reform path of deepening soft law and strengthening pre-crisis governance arrangements. At the same time, the new financing mechanisms introduced to stabilize the Eurozone can pave the way for the introduction of an EU-level bank resolution regime, when the next reform opportunity arises.political science; European Commission

Regulatory aftermath of banking rescues: More Europe or business as usual?

This paper analyzes the EU experience with the cross-border banking failures during the crisis and evaluates the post-crisis reform proposals in the light of this experience. It shows that the Commission considered substantive reforms that would shift the crossborder bank resolution regime to the EU level to match the operational presence of pan- European banks. However, the political compromises on the European System of Financial Supervisors in the Council, led the Commission to withdraw from more ambitious proposals in favor of gradual improvements of the pre-crisis status quo. The reformed structures are still too complex to be functional in real-time under the pressure of a financial crisis and they leave too many crucial issues such as sharing of information and of fiscal burdens in the domain of non-binding soft law agreements yet to be prepared by supervisory colleges. The new framework does not change the exclusively national accountability of supervisory authorities, thus the new regime is unlikely to prevent non-cooperative resolution strategies. The first round of post-crisis regulatory reforms brings in more Europe to the cross-border bank resolution regime, but just barely so

RC load-bearing structure design of car park

Diplomová práce se zabývá návrhem a posouzením nosné železobetonové konstrukce podzemního dvoupodlažního objektu garáží pro osobní automobily. V prostoru nad garážemi je navržena volná plocha s veřejným prostranstvím. Projektem byla řešena zejména vnější vodo-nepropustná konstrukce metodou bílé vany a to základová deska a obvodové stěny. Konstrukce byla navrhována jako komplexní model. Analyzována výpočetní metodou konečných prvků. Všechny vybrané prvky byly posouzeny na mezní stav únosnosti a na mezní stav použitelnosti, konkrétně na mezní stav vzniku trhlin od zatížení a vynuceného namáhání.The diploma thesis deals with the design and assessment of reinforced concrete structure supporting two-storey building of the underground garage for cars. In the space above the garage is designed open area with public space. The project was designed especially outer water-impermeable construction method white bath and a base plate and a perimeter wall. The structure was designed as a comprehensive model. Computing analyzed by finite element method. All selected elements were assessed at the ultimate limit state and limit state, namely to limit state of cracking load and forced stress.

Book review: measuring happiness: the economics of wellbeing

This book examines the evolution of happiness research, considering the famous “Easterlin Paradox,” which found that people’s average life satisfaction didn’t seem to depend on their income. But they question whether happiness research can measure what needs to be measured. Laura Kudrna argues this book is well worth a read for its excellent coverage of much of the happiness literature from large surveys, as well as the interesting arguments put forth about how we should interpret this evidence

Responsibility for Acts of the President of the Czech Republic

This article deals with the issue of responsibility for the actions of the President. The author distinguishes among three basic forms of responsibility of the Head of State — constitutional, constitutional political and criminal responsibility. In the aggregate, they form the complex responsibility of the President. Individual types of responsibility of the President are described in the article in terms of their theoretical basis as well as mutual relations. Their origin and development within individual Czechoslovak and Czech constitutional regulations are also described. The article analyses their constitutional regulation in the Constitution of the Czech Republic until 7 March 2013, and particularly after this date when the full Constitutional Act No. 71/2013 Coll. came into effect. The Act significantly influenced the responsibility for the actions of the President. In conclusion, the author duly focuses on evaluation of the current constitutional regulation, including considerations about possible de lege ferenda improvements

Boundary states in the SU(2)k_k WZW model from open string field theory

We analyze boundary states in the SU(2)$_k$ WZW model using open string field theory in the level truncation approximation. We develop algorithms that allow effective calculation of action in this model and we search for classical solutions of the equations of motion, which are conjectured to describe boundary states. We find three types of solutions. First, there are real solutions that represent maximally symmetric Cardy boundary states and we show that they satisfy certain selection rules regarding their SU(2) parameters. Next, we find complex solutions that go beyond the SU(2) model and describe maximally symmetric SL(2,$\mathbb C$) boundary conditions. Finally, we find exotic solutions that correspond to symmetry-breaking boundary states. Most of real exotic solutions describe the so-called B-brane boundary states, but some may represent yet unknown boundary states.Comment: v2: 95 pages, 6 figures, improved analysis of some solution

Network Game: Destroy the Submarine

Bakalářská práce popisuje návrh a implementaci 2D hry Hon na ponorku. V této hře ovládá každý hráč svoji ponorku a snaží se zničit své protivníky. Hra umožňuje hru více hráčů přes počítačovou síť i u jednoho PC. Aplikace je vyvíjena v programovacím jazyku C++ s pomocí Qt frameworku. Jedná se o multiplatformní aplikaci.The bachelor´s thesis describes the design and the implementation of the 2D network game "Destroy the submarine". In this game each player controls his submarine and tries to destroy the submarines of his opponents. The game can be played by more players via the computer network or on one PC. The application is developed in the C++ programming language with the help of the Qt framework. It is a multi-platform application.