The role of state aid control in improving bank resolution in Europe

The financial crisis exposed EuropeÂ?s inadequacy in developing an effective banking resolution framework that could bring together national authorities and set guidelines for their coordination. The European Commission, through its assessment of state aid cases, managed to avoid single market distortions and mitigate moral hazard. This Policy Contribution explains why in the long-term Europe needs a single resolution authority. The authors Bruegel Senior Research Fellow André Sapir, Mathias Dewatripont, ULB and CEPR; Gregory Nguyen, National Bank of Belgium, and Peter Praet, National Bank of Belgium, show how in the short-term, the European Commission, through its state aid control discipline, can set the foundation for a new crisis resolution architecture. It can act as a substitute to improve coordination among member states and complement a European resolution authority once it is set up.

10 Gbit/s bit interleaving CDR for low-power PON

A novel, low power, downstream clock and data recovery (CDR)- decimator architecture is proposed for next generation, energy efficient 10 Gbit/s optical network units (ONUs). The architecture employs a new time division multiplexing bit-interleaving downstream concept for passive optical networks (Bi-PON) allowing early decimation of the incoming data and lowering of the processing speed to the user rate of the ONU, thus reducing the power consumption significantly

Linguistic ethnography and institutions

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A low-energy rate-adaptive bit-interleaved passive optical network

Energy consumption of customer premises equipment (CPE) has become a serious issue in the new generations of time-division multiplexing passive optical networks, which operate at 10 Gb/s or higher. It is becoming a major factor in global network energy consumption, and it poses problems during emergencies when CPE is battery-operated. In this paper, a low-energy passive optical network (PON) that uses a novel bit-interleaving downstream protocol is proposed. The details about the network architecture, protocol, and the key enabling implementation aspects, including dynamic traffic interleaving, rate-adaptive descrambling of decimated traffic, and the design and implementation of a downsampling clock and data recovery circuit, are described. The proposed concept is shown to reduce the energy consumption for protocol processing by a factor of 30. A detailed analysis of the energy consumption in the CPE shows that the interleaving protocol reduces the total energy consumption of the CPE significantly in comparison to the standard 10 Gb/s PON CPE. Experimental results obtained from measurements on the implemented CPE prototype confirm that the CPE consumes significantly less energy than the standard 10 Gb/s PON CPE