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South Sudan's Leaders Must Act Now to End Suffering
Three years ago, in July 2011, the world celebrated the birth of South Sudan, the world's newest nation. At a moment of great optimism, people of different ethnic groups and economic classes came together with the international community to celebrate the dream of a united, sovereign nation, and a new flag was raised in the capital, Juba. In December 2013, violence broke out as a result of a political struggle between the President and his former Deputy. One year on, the country is still mired in a conflict that has shattered the dream and threatened this young nation.
The fighting has taken a terrible toll on civilians, particularly women and children, who have borne the brunt of the violence. Both parties to the conflict have committed gross violations of human rights and international humanitarian law, including extrajudicial killings, enforced disappearances and sexual violence. These violations may, in some cases, constitute war crimes and crimes against humanity. Civilians have been deliberately targeted based on their ethnicity and perceived political affiliation. Since the outbreak of fighting, more than 10,000 people have been killed, 1.9 million displaced and millions more face food insecurity.
Sexual violence has become a key feature of the current conflict, including rape, gang rape, forced marriage and sexual slavery. These crimes have been committed by all parties to the conflict, both soldiers and civilians. As one female activist noted, "Sexual violence has become something normal here. It is not just about rape, it is to inflict unimaginable pain and destruction."
Children, who make up the majority of the population, have been disproportionately affected. Since December 2013, thousands of children have been recruited by both sides. There are also hundreds of documented cases of children who have been killed, maimed, raped or subjected to other forms of sexual violence.
The culture of impunity in South Sudan has contributed immensely to the current situation. If this young nation is to achieve lasting peace, it is vital to ensure that those responsible for crimes committed are held to account. The African Union Commission of Inquiry was charged with investigating the human rights violations and abuses that have taken place in South Sudan and with recommending accountability measures. The United Nations has supported the work of the Commission and hopes that its report will contribute to promoting justice and accountability in South Sudan.
There have been some positive signs. In June, the Government of South Sudan recommitted itself to an action plan to end the recruitment of children by the SPLA and protect children from the impact of war. In May, Riek Machar, the former deputy president and leader of the South Sudan People's Liberation Movement (SPLM/A in opposition) signed an agreement with the United Nations to protect children, including from recruitment. We are still waiting to see these commitments translated into actions that make a difference in children's lives.
In October, the Government signed a joint communiqué with the United Nations in which it agreed to concrete measures for the prevention of conflict-related sexual violence. We urge the SPLM/A in opposition to do the same and act now to help protect women and children from the horrible scourge of wartime rape.
Ultimately, this is a man-made conflict and the responsibility to protect its population lies with South Sudan's leaders. They need to commit to a comprehensive political settlement which is the only solution to the conflict. We in the international community also have a collective responsibility to ensure South Sudan fulfils its responsibilities, but the only way forward for this young nation is as a united country, at peace with itself. South Sudan can build a brighter future from the ashes of conflict, but that work must begin now.
By Zainab Hawa Bangura, Adama Dieng, Jennifer Welsh and Leila Zerrougui *
This op-ed was originally published by the Huffington Post on 15 December, 2014 and can be found here: http://www.huffingtonpost.com/A-View-from-the-United-Nations-/south-sudans-leaders-must_b_6330254.html
_________________Zainab Hawa Bangura is the Special Representative of the Secretary-General on Sexual Violence in Conflict.
Adama Dieng is the Special Adviser of the Secretary-General on the Prevention of Genocide.
Jennifer Welsh is the Special Adviser of the Secretary-General on the Responsibility to Protect.
Leila Zerrougui is the Special Representative of the Secretary-General for Children and Armed Conflict.


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LIBYAN SANDSTORM
Like the catastrophes, cancers, and madmen to which he's variously been compared, Muammar al-Qaddafi--leader of sparsely-populated, oil-rich Libya and, by force of personality and petrodollars, a major actor on the world stage--is more easily described than understood. Cooley, longtime Middle East correspondent of The Christian Science Monitor (now with ABC News), doesn't really try; neither does he distinguish between the significant and the trivial. But he does treat Qaddafi seriously, with due attention to the important aspects of his career: how he and his colleagues on the Revolution Command Council manipulated Western oil companies competing to exploit Libya's high-quality oil--in the process enriching their country and contributing substantially to the 1970s transformation of the international oil market; how Qaddafi has made Libya into an arsenal of sophisticated weaponry purchased not only from the USSR (of which Libya is the single largest arms customer), but also from the Western powers and even neutral Sweden; how, like his idol Nasser, Oaddafi attempted--with similarly disastrous results--to impose his notions of unity on his Arab neighbors, the Muslim areas of sub-Saharan Africa, and on the Islamic world. At sometimes greater length, Cooley also describes Qaddafi's dealings with former CIA agents Edwin Wilson and Frank E. Terpil (and other shady operatives), and with Billy Carter--shedding little new light on any of these matters, however, despite some not-for-attribution interviews with Qaddafi opponents-in-exile. Nor does he offer any insight into how Qaddafi's adventurism can be constrained if the oil glut which permitted the Reagan administration to curb him in 1981 comes to an end. (Libyan internal politics is still less adequately treated.) But even as an unselective assemblage of information on the Qaddafi phenomenon, the book has no present competition.
Pub Date: Oct. 14th, 1982
Publisher: Holt, Rinehart & Winston

redpajama_set_name: RedPajamaCommonCrawl


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Know Your Enemy: Philadelphia Union – Meeting the First - Part One – The Lineup and The Form
The first half of the latest installment of the Know Your Enemy series, previewing TFC upcoming opponent, the Philadelphia Union, ahead of Saturday's match, focusing on their lineup and form
By James Grossi@grawsee_auto May 1, 2015, 3:00pm EDT
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A wave, but no smile. Jim Curtin has had little reason to smile of late.
Eric Hartline-USA TODAY Sports
Feeling good after last week's win in Orlando, Toronto FC returns to the pitch on Saturday afternoon, closing out the seven-match road trip in Philadelphia with an eye on the long-awaited home-opener, which is finally just around the corner.
Beginning the season with a long road trip was never going to be easy. A realistic reading of the future hoped that by the time May 10 rolled around, TFC would have collected a handful of points – one per game seemed like a comfortable target.
Through the first six matches, Toronto has achieved that mark, good enough to sit in sixth in the East, primed to climb up the table with solid home form. A point from the weekend will keep that base stable, anything more than that would be sheer gravy.
For a while, mired in a four-match losing streak, there was a risk that TFC would find themselves drifting further and further away from the race in the East. It is early in the season and there are many matches still to be played, but one never wants to start in too deep a hole.
Currently eight points off the conference leaders, they will have their work cut out for them in hunting down New England, DC, and New York, but with a win in Philadelphia that gap will at least not get any larger.
There is of course a danger in looking too far ahead. Philadelphia may be down on their luck, but they are still a very good side, capable of causing trouble and hungry to turn around their struggles.
A closer look at this weekend's opponent, the Philadelphia Union, is in order.
After replacing John Hackworth in June last season, Jim Curtin impressed sufficiently – leading the side to a sixth-placed finish, missing out on the playoffs by seven points - to have the 'interim' tag removed, taking over the head coaching duties on a permanent basis.
In the off-season, he set about addressing several of the holes in the Union lineup.
Starting up top in the striker position, Curtin reinforced with the additions of CJ Sapong, acquired in a trade with Sporting KC, and Venezuelan Fernando Aristeguieta, on loan from French club FC Nantes. Conor Casey, the old battering ram, re-signed after having his option declined initially. They also drafted Dzenan Catic 31st overall in the draft.
There were however losses in that position as well: Jamaican speedster Brian Brown is no longer with the club, his option was declined, while Pedro Ribeiro, the impressively large rookie forward, was selected by Orlando City in the expansion draft and Aaron Wheeler, the centre-back turned forward, was waived.
In the midfield, veteran Brazilian Fred was re-signed, Eric Ayuk Mbo, a lively Cameroonian attacker entered on a free transfer, and Eric Bird was selected 41st overall. Meanwhile Amobi Okugo departed for Orlando in a trade, while Leo Fernandes and Danny Cruz left on loan – to New York Cosmos and FK Bodo/Glimt, respectively.
At the back, Canadian-born defender Steven Vitoria was acquired on loan from Benfica, and full-back Raymond Lee was selected in the later rounds of the SuperDraft. Carlos Valdes, who disappointed after returning from Colombia, was sent back out on loan to Nacional in his homeland, while Austin Berry was surprisingly loaned to Korean side FC Anyang.
They also made changes in goal, sending Zac MacMath on an intra-league loan to Colorado, while signing local product John McCarthy, who excelled in USL with Rochester.
No MLS side has utilized the external loan system to the extent that the Union have: they have two players on loan and five out on loans – it is a curious development that should be interesting to watch.
For all those machinations, the Union have cut a very similar look to last season; there is some value in that consistency. And for their struggles this season, there have been myriad reasons.
Injuries have played a role. The injury report currently lists seven players, with Antoine Hoppenot, the super sub, out, and four potential starters – Vincent Nogueira, Brian Carroll, Aristeguieta, and Vitoria – listed as questionable.
Discipline too has been a factor. Both Fred and Zach Pfeffer have seen red cards, against Chicago and Dallas, respectively, each leading to losses.
While consistency, or the lack their of, has been to their downfall. Rais M'bolhi has looked horrible and how now left the team, while Philadelphia has been unable to field a stable back-four, forced to draft Mo Edu into a centre-back role as Ethan White struggled to find his form.
For all that, their margins of defeat, aside from the Columbus loss, have been small. Fortune has largely not been on their side in close matches.
Further complicating the lineup predictions, Curtin stated after the 4-1 loss in Columbus last weekend, that there would be changes.
Their projected lineup is as follows: John McCarthy in goal; from right to left – Sheanon Williams, Maurice Edu, Steven Vitoria, and Ray Gaddis across the back; Eric Ayuk, Michael Lahoud, Cristian Maidana, and Andrew Wenger through the middle; Sebastian Le Toux and CJ Sapong up top.
After going 4-4-2 successfully through much of the preseason, Curtin was forced into reconsidering his plans when Sapong suffered a concussion early in the season. Since then he has flirted with a variety of lineups.
The M'bolhi affair having come to an end, MacMath out on loan, and Andre Blake still recovering from a long-term knee injury, has forced the Union's hand into fielding a rookie keeper in the 22-year old McCarthy. He has looked solid, aside from that Columbus result. Blake is likely to take over the starting duties at some point, but Saturday's match comes too soon.
On the back-line, Vitoria is a little banged up, but will be risked if he is able. Otherwise White would be drafted back into the starting eleven. Philadelphia has options in the outside back position, with Fabinho a left-sided option and Lee a right-sided one; Gaddis has featured on either side as well, depending on who Curtin has chosen for the other side, providing yet another option.
Carroll could take Lahoud's spot in that lineup, but given he is nursing a hamstring issue and Lahoud has made himself a presence in recent outings, that is unlikely. Curtin has at times opted for a double-pivot in that part of the field, playing Nogueira or Pfeffer there as deep-lying playmakers, or doubling down on the defensive aspect with both Lahoud and Carroll in place.
That would be the most likely formation change, reverting to a five-man midfield in hope of shutting down Toronto's ball-movement.
In attack, Maidana makes the side tick, but Pfeffer and Nogueira have both seen time in that central attacking role. Out wide, Le Toux and Wenger have failed to click, while Ayuk has looked lively, if a touch wild. Sapong too is an option, driving in-field from wide.
And up top, if fit Aristeguieta must be watched carefully, while Casey is a pain that TFC should be well familiar with, by reputation, if not experience, though he is more likely to feature from the bench.
If Curtin does go with the 4-2-3-1, expect to see Le Toux and Wenger on the wings, with Sapong, or Aristeguieta, if fit, up top.
The Union currently sit in ninth place in the East having collected six points from nine matches – they are tied on points with TFC and New York City. Their horrendous goal difference (minus-seven) is what places them at the bottom of the three-way tie.
With seventeen goals conceded, the Union are by far the league leaders in that category, double most teams, and treble what Seattle have conceded – though, in their defense, Philadelphia has played more matches than most.
They have won just once, drawn three, and lost five matches. Their only win came at home, against expansion New York City. They drew their first home match and lost the other two.
Having opened the season with a scoreless draw at home against Colorado in which Clint Irwin stood on his head to deny the Union, Philadelphia would draw 3-3 in Salt Lake the following week. Javier Morales opened the scoring, only for Aristeguieta to pounce on a pair of Salt Lake errors. Jamison Olave scored at both ends in a three-minute span to level and then reinstate the visitors lead, but Alvaro Saborio's controversial late penalty kick would ensure a splitting of the spoils.
A Pfeffer red card for throwing an undisciplined elbow into the face of Mauro Diaz would prove costly against Dallas, the visiting side scoring twice in the second half with the man advantage through Tesho Akindele and Ryan Hollingshead to take home a 0-2 result.
The following week it was Fred's red card for a petulant swat at Harrison Shipp in the 72nd minute that limited their ability to respond to a first half Adailton flicked header from a corner kick. Chicago would see out the 1-0 win, their first of the season.
Further late dramatics would prove costly in Kansas City. Saborio's penalty may have been a harsh call, but this collapse was entirely of their own doing. Philadelphia twice took the lead inside the opening nineteen minutes – a Jacob Peterson own-goal and an Aristeguieta header from a free-kick – only for Dom Dwyer to capitalize on M'bolhi missing a delivery for Sporting in the 16th minute. Protecting that lead into stoppage-time, Philadelphia would concede twice in three-minutes, with Jalil Anibaba scoring in the 91st and Krisztian Nemeth in the 94th, to overturn what would have been a very positive result for the visitors, who remained winless on the season.
Philadelphia would respond to that shock, winning their first, and only, of the season against New York City. Pfeffer scored the first, only for David Villa to respond shortly after half-time. But it was the Union's turn for some late-game heroics, with Nogueira nabbing the winner in the 92nd minute.
Five days later in the return fixture, the two clubs would draw at Yankee Stadium, again thanks to some late magic. Mehdi Ballouchy put the hosts in front in the 57th minute, but Sapong responded, slamming home a goal-mouth scramble.
Philadelphia failed to capitalize on that momentum, falling 1-2 to New England on short rest. Maidana opened the scoring in the 42nd minutes, but with the Revolution surging and the Union tiring, Charlie Davies and Teal Bunbury scored after the hour mark to overturn the result.
And most recently, Philadelphia fell 4-1 at Columbus. Kei Kamara, Ethan Finlay, and Justin Meram scored first half goals. Ayuk grabbed some consolation, only for Finlay to restore the three-goal advantage and seal the night.
The Union enter Saturday's match on the back of two-straight losses, riding a three-match winless run.
Part Two, hitting the game film for strengths and weaknesses, will be posted shortly
2015 Toronto FC StoryStreams: Game 7- Philadelphia Union
Taking the High Road: TFC best Union
Know Your Enemy: Philadelphia Union, Lineup & Form
Are you smarter than Ryan Nelsen?: Round 7


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Family Dogs
How the Shar-Pei Got Its Wrinkles
by Patty Rasmussen Sep 24, 2019
Originally bred as guard dogs and hunters, Shar-Pei are described as intelligent, regal and independent and are noted for their fierce loyalty to their owners. Life On White/Getty Images
Looking for a dog that will turn heads or stop passersby in their tracks? Check out the Shar-Pei. With their unique loose and "wrinkled" skin and hippopotamus-shaped muzzle, Shar-Pei are a unique member of the canine family.
The breed originated in China — the name Shar-Pei literally translates to "sand skin." And this stocky pooch — a full-grown Shar-Pei stands about 2 feet (0.6 meters) high and weighs between 45 and 60 pounds (20 to 27 kilograms) — lives up to its name.
The Shar-Pei coat is short and coarse, falling in heavy folds around the dog's head, neck and shoulders. They are typically fawn-colored, but the American Kennel Club (AKC) lists up to 17 different colors. In addition to their prominent muzzle, Shar-Pei have small, deep-set eyes and tiny ears. Their tongues are blue-black.
But it's the wrinkles that make Shar-Pei so memorable. In an email interview, Dr. Kerstin Lindblad-Toh of Uppsala University in Sweden writes that a Shar-Pei's wrinkles are caused by the hyaluronic acid synthase 2 (HAS2) gene. "HAS2 encodes an enzyme synthesizing hyaluronan, a major component of the skin," she says. "The hyaluronan is up-regulated and accumulates in the thickened skin of Shar-Pei."
In hyper-layman's terms, hyaluronan is a sort of "gel" around the cells in the skin. Among other things, it aids in hydration and elasticity of the skin. In a Shar-Pei, the HAS2 gene goes into overdrive creating way too much hyaluronan and that causes the trademark wrinkles, which are especially visible in Shar-Pei puppies. By the time a Shar-Pei is full grown, its wrinkles have settled down and are typically just in the face, head and neck.
Keeping Your Shar-Pei Ship Shape
The genetics of the Shar-Pei's wrinkles helped Lindblad-Toh and other researchers uncover a mystery when they used the breed as subjects in a 2011 study connecting Shar-Pei to a fairly common canine illness.
The study linked the HAS2 gene with a tendency of Shar-Pei to fall ill with periodic fever disease, sometimes referred to as Familial Shar-Pei Fever (FSF). Symptoms include episodes of fever that appear to rise out of nowhere, and overall listlessness. Lindblad-Toh says hyaluronan is to blame for periodic fever disease in Shar-Pei and the team's research bears it out.
Hey, someone toss me that blanket! Oops, never mind, that's the dog ...
Linda Trine/Getty Images
First, they compared the Shar-Pei genome with other dog breeds, then compared it to healthy and sick Shar-Pei, searching for the mutation to the fever. And each time they came to the same conclusion. "In the study, a mutation (in a strand of DNA) affecting both the fever syndrome and the wrinkled skin was found," says Lindblad-Toh. "The duplication mutation was seen near the HAS2 gene, more copies the mutation was associated with and more HAS2, as well as the periodic fever syndrome."
What does it all mean? In addition to being genetically predisposed to periodic fever disease, Shar-Pei are also at risk for Shar-Pei Autoinflammatory Diseases (SPAID) says Lindblad-Toh. "Several symptoms are present," she says, "including recurrent fever, arthritis, dermatitis, otitis (ear infection) and systemic reactive amyloidosis (an inflammatory disease in the body's organs)." Fortunately, Shar-Pei can be tested for SPAID to help owners make better informed breeding decisions.
There are other health issues that can be challenging to Shar-Pei. Because of the folds in Shar-Pei skin, they are susceptible to certain skin problems and a serious eye disorder called entropion, when the eyelid (usually the lower lid) folds inward, causing irritation to the cornea. Other eye problems of concern to the breed are glaucoma, pressure on the eye that can cause blindness; retinal dysplasia, an inherited disease that causes a malformation of the retina; "cherry eye," a prolapsed gland in the third eyelid; chemosis, swelling of the lining of the eye — typical in puppies or young Shar-Pei; and Sudden Acquired Retinal Degeneration Syndrome or SARDS, a rare disease that causes blindness.
The Chinese Shar-Pei Club of America also recommends that owners have their dogs screened for a number of health issues including:
Elbow dysplasia
Autoimmune thyroiditis
Patellar luxation (dislocation of the kneecap)
Canine Eye Registration Foundation (CERF) exam to detect eye and vision irregularities
The Social Shar-Pei
Shar-Pei look so cuddly. The natural question is are they good family dogs? That depends on what you're looking for. The AKC website suggests Shar-Pei puppies are better with older children. Some describe Shar-Pei facial expressions as scowling while others see a natural smile, but Shar-Pei are almost always described as intelligent, regal and independent; noted for their fierce loyalty to their owners. They were initially bred as guard dogs and hunters. That behavior hasn't changed.
Your Shar-Pei will need a firm hand. Plan to invest in obedience training and socialization because as much as your Shar-Pei loves you, they are not great with strangers or with other dogs. And don't mistake their natural calm for not caring. If they believe their territory is under threat, they will protect it with — you guessed it — dogged determination.
Shar-Pei enjoy a leisurely walk, just not too often. Usually once or twice a day will do. And watch out during the summer months. Shar-Pei don't tolerate the heat well. Owners would do well to take a look at the Chinese Shar-Pei Club of America website. It's chocked full of information about the breed — everything from health issues to training to showing standards. Expect to pay a pretty penny for a pure bred Shar-Pei. You're unlikely to find anyone willing to quote a price online but a puppy can easily cost you anywhere from $600 to $1,000 or more. But Shar-Pei owners will tell you they're worth every cent.
Shar-Pei have an unusual blue-black colored tongue, a trait they have in common only with the Chow-Chow, another breed originally from China. This characteristic would seem to indicate a shared ancestor somewhere in the canine family tree, but to date there is no evidence.
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Myanmar: A New Pattern of China-Japan Interactions?
If Japan and China focus on different rail systems in Myanmar, can their division of labor create a new pattern for cooperation?
By Shang-su Wu for The Diplomat
Credit: Flickr/ Clay Gilliland
Myanmar Railways (MR) has been variously criticized for its low efficiency and increasing costs. Solutions are needed. Since the country's independence, the British colonial era meter gauge rail system has not been modernized much. Antiquated semaphore signals and manual blocking systems are still broadly in service, suggesting both the limited capacity of lines, and the poor maintenance of tracks. Rolling stock operates at significantly reduced speed, only 40km/hr on average. It takes trains about 15 hours to complete the 620 km journey between Mandalay and Yangon, much slower than buses, which can make the trip in as little as 8 hours depending on the type of bus in question.
Unsurprisingly, then, MR's share of land transport in Myanmar has been dropping in the last three decades and the company faces rising deficits. Naypyidaw is aware of the challenge, but it has the same dilemma other Southeast Asian countries face: whether to upgrade the existing meter gauge system for practicality's sake, or to establish an entirely new standard gauge system for higher speed connection with China. Based on Myanmar's financial capacity, upgrading the existing system is already a difficult ask, not to mention building an entirely new rail network.
However, thanks to Japanese and Chinese capital, upgrades to the existing system are ongoing, and a standard gauge system is likely to be built.
Tokyo has financially and technologically modernized the MR network, mainly the Yangon circle line and the trunk line between Yangon and Mandalay, in addition to improving five MR maintenance sites. These projects are scheduled to be finished by 2024, after which MR passenger services will reach a top speed of 100 km/hr, and more than double of the amount of service. Furthermore, more efficient freight services will contribute to Myanmar's blooming inland dry port projects, a considerable factor for import and export costs.
It must be noted that Japan is not the sole source of the ongoing MR modernization. China and India are major suppliers of locomotives and carriages. Beijing has also extended loans to Naypyidaw for building two factories for locally manufacturing rolling stocks.
Under the China-Myanmar Economic Corridor (CMEC), a part of the larger Belt and Road Initiative, the previously abandoned high-speed railway (HSR) plan was resumed last year with a feasibility study for a line between Muse and Mandalay. That would be followed by construction of a standard gauge rail line allowing a top speed of 160 km/hr, and eventually connecting to Kyaukpyu, a harbor town with Chinese investment. Due to its location beyond the MR network, the standard gauge rail to Kyaukpyu would not be redundant. China's focus on crafting a rail link to the Indian Ocean is interpreted as creating an alternative route to the Malacca Strait. Rakhine state, where the rail line would end, also borders Bangladesh, allowing the potential extension of the line – and the BRI — to yet another country.
So far, Beijing and Tokyo are not competing in Myanmar in the way they did over railway contracts in Indonesia and Thailand. This is due to their separate focuses: the additional standard gauge line for China and the existing MR network for Japan. Since Japanese Prime Minister Shinzo Abe highlighted the desire for a beneficial relationship with China last year, including cooperation on overseas infrastructure projects, the situation in Myanmar may be a potential pattern for cooperation. (Another potential model fell through with Japanese companies' withdrawal from a joint venture with their Chinese counterparts in bidding for the HSR project in Thailand's Eastern Economic Corridor.) Japan's upgrade of the MR network will improve land transportation and the overall economy, which may pave the foundation for more demand for the additional standard rail being built by China.
These two powers' distinct approaches nevertheless mask a subtler competition over durability and adequacy. Building an additional standard gauge rail system, beside original narrow gauged ones, is China's common offering, as evidenced in completed projects in Ethiopia and Kenya. In contrast, Japan usually takes a more gradual approach with relatively small-scale upgrades. Upgrading an established rail network is naturally much cheaper than building another whole system. The former requires less land, and various existing facilities can be retained or modified rather than built from scratch. In Myanmar, Tokyo's approach is more practical than Beijing's in terms of cost, burden sharing, and economic structure.
Due to the relatively lower cost, Japan is able to largely support Myanmar through soft loans and official development aid (ODA). In contrast, the Kunming-Kyaukpyu rail will be built from scratch, and the necessary construction of many tunnels and bridges to pass through the mountainous areas in Myanmar's northern states would further increase the costs. As such, the financial toll from Beijing's preferred project would be much heavier than Tokyo's, and Naypyidaw would have to shoulder some of that burden. The HSR project in Laos, with the high portion of loan and investment from China, presents one possible way forward, but it brings the risk of a debt trap. Unlike Vientiane, which has only landlocked territory, Naypyidaw with its coastline and harbors may be less willing to accept large Chinese loans. The funding and loan issues may therefore become an obstacle in the Sino-Myanmar bilateral negotiations, just like in China's delayed HSR project in Thailand.
Finally, as Myanmar's economy mainly relies on sea transport for international trade, the railway section with the most potential will be between Myanmar's inland and Kyaukpyu harbour, rather than the whole line linking back to China. A direct rail link to the relatively remote Yunnan province in China, with a higher cost than ships, may not signify much economic potential for Myanmar. The capacity of trains could be further limited by the slope; Kyaukpyu is close to the sea level and Kunming is at an altitude of 1,900 meters. However, Beijing's strong geopolitical interest in the line may compensate for these disadvantages. As long as CMEC is strategically important enough, China may be willing to strike a deal acceptable to Myanmar by bearing a great deal of the costs, and even subsidizing the rail transport as it does to the freight services through Central Asia.
Despite the lack of direct competition, the roles of China and Japan in Myanmar's rail transportation could be summarized as revolution vis-à-vis evolution. Time will reveal their respective pros and cons.
Shang-su Wu is a research fellow of the Regional Security Architecture Programme at the S. Rajaratnam School of International Studies (RSIS), Nanyang Technological University in Singapore.
China-Japan rivalry
China-Myanmar relations
Chinese investment in Myanmar
Japan-Myanmar relations
Japanese investment in Myanmar
Kunming-Kyaukphyu railway
Kyaukpyu Port
Myanmar high-speed rail
Myanmar Railways
Xi's Upcoming Visit to Myanmar Could Reshape the Indian Ocean Region
By Amara Thiha
With Xi Jinping's visit, China is on the verge of realizing a 10-year plan: gaining a back door to the Indian Ocean.
Can Myanmar Afford China's Belt and Road?
Myanmar's government is hungry for the investment boost, but the costs must be weighed as well.
China Faces Increasing Competition in Myanmar
By Tridivesh Singh Maini and Sandeep Sachdeva
Japan and Singapore are stepping up their engagement with Myanmar, where China has long dominated.
Chinese Company Wins Contract for Deep Sea Port in Myanmar
CITIC Group has won a contract to develop a port in Kyaukpyu on the Bay of Bengal.


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Home About Us News
New journal to explore the impact of data science on government policy
A new Open Access journal will explore the role of data science in shaping government policy – and its possible impact on privacy and public trust.
Launched this week, Data & Policy is the result of a collaboration between Cambridge University Press and the annual Data for Policy conference, being held this year at UCL on 11-12 June.
Data & Policy will publish: original, peer-reviewed articles on how data science can improve policy-making, governance capabilities and citizen services; commentaries exploring the ethical implications of data-driven research and its impact on privacy, law and public trust; and replication studies to promote transparent, reproducible research.
The Alan Turing Institute – the UK's national institute for data science and artificial intelligence – and UCL have pledged support for the conference and the journal, providing funding that will enable unfunded researchers to publish their research on an open access basis. The journal will be free to read on Cambridge Core, the online repository of books and journals published by the Press.
The opening manifesto from Data & Policy editors Zeynep Engin (UCL), Jon Crowcroft (University of Cambridge and The Alan Turing Institute) and Stefaan Verhulst (The Governance Lab, New York University) says that while the potential of data – now generated at a massive scale as a result of digital technologies embedded in everyday life – and data analytics have been evident for some time, initiatives using data for policy have been the exception rather than the norm. This is due to a number of obstacles, including: the inaccessibility of much data; gaps in technical and conceptual understanding; and a growing lack of public trust about the way that data is collected, analyzed and used.
The editors call for deeper understanding of "Policy-Data Interactions", in order to reach a "consistent, symmetrical approach to consideration of systems of policy and data, how they interact with one another".
The Data for Policy conference has initiated such policy-data interactions by bringing together researchers from different disciplines, people with technical expertise and those with knowledge of different policy domains. Data & Policy aims to sustain this debate and extend beyond the conference by linking together other institutions and networks, and providing a trusted venue for researchers, policy specialists and all who are interested in the implications of data for citizens, services and how they are governed.
Brigitte Shull, Director of Scholarly Communications Research and Development at Cambridge University Press, said: "We are pleased to be working with Zeynep, Jon and Stefaan, and their international board. Data & Policy is embracing the movement towards more open, collaborative and transparent ways of conducting and communicating research. We are excited to see how the potential of this is realised in their effort to bring together technical, policy and other communities."
Adrian Smith, Institute Director and Chief Executive of The Alan Turing Institute, said: "We are delighted to support the prestigious Data for Policy conference and the development of its new open-access journal Data & Policy. The Turing is pleased to bolster these ongoing efforts to create a global forum for interdisciplinary debates around data in government and we look forward to continuing this collaboration."
· Data & Policy: cambridge.org/dap
· Data & Policy's opening editorial: https://doi.org/10.1017/dap.2019.2
ABOUT CAMBRIDGE UNIVERSITY PRESS
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Audi officially becomes first German automaker in FIA Formula E
It replaces ABT Sportsline on the grid starting in December.
Andrew Krok
July 7, 2017 8:47 a.m. PT
The fourth season of the all-electric FIA Formula E racing series doesn't kick off until December, but Audi's too excited to hold back its news until then.
Audi announced Friday that it will officially field a manufacturer team in FIA Formula E's fourth season, which kicks off in Hong Kong on December 2. Audi took ABT Sportsline's place on the grid, where it will operate under the team name Audi Sport ABT Schaeffler.
We still haven't seen Audi's new livery, but it probably won't be too different than the current one.
With this announcement, Audi became the first German automaker to field a factory works team in Formula E. Back in October 2016, Audi announced that it would quit its Le Mans efforts in favor of the all-electric racing series. Over the course of the third Formula E season, Audi slowly grew its presence by adding financial and technical support.
Audi was an absolute powerhouse in Le Mans, and its Formula E efforts are off to a solid start. Thus far, its drivers have 23 podiums and five victories over the course of 29 races. Anything is possible in the fourth season, though, as Audi is currently developing a new powertrain -- right now, manufacturers are only capable of modifying the motor, transmission, software and suspension. All the remaining components are specified from the FIA, which is the governing body that oversees many different forms of motorsport.
Audi is far from the first automaker to join Formula E, though. Renault has a team, as does Jaguar. Even Faraday Future jumped in on the action, teaming up with Dragon Racing.
Formula E does things a little differently. Its cars don't have the juice to complete a whole run, so drivers need to switch cars at some point during the race to receive a fresh battery. The cars hustle to 60 mph in about 3 seconds, thanks to a low curb weight around 1,940 pounds. There's also a strange system called FanBoost, where fans can vote to give three different drivers a small horsepower boost.
Formula E electric cars race in Long Beach (pictures)
Discuss: Audi officially becomes first German automaker in FIA Formula E


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Lost Ark NA Class Tier List
By Dillan | February 10th, 2022 | Categories: Lost Ark
The Best Class in Lost Ark
Lost Ark has been on many gamers' minds over the past few weeks. Ever since Smilegate partnered with Amazon to release the Korean ARPG to Western regions, people have been waiting anxiously for the game's official release so that they can finally play the damn game. With the ARPG and MMO drought, almost everyone is happy to finally see a new ARPG/MMO title coming to stores. More than half a million players already have access to the game via early access, but the majority of gamers are still waiting for the official release. Before players jump into the highly popular Korean ARPG, here are some pieces of information about Lost Ark classes to help gamers decide which to go for. This is the definitive Lost Ark Class Tier.
What is Lost Ark?
Lost Ark is a Korean ARPG MMO developed by Smilegate which has been locally available to Korea and Japanese markets since 2019. The popularity and success that the game found have prompted its developers to launch the game to Western regions allowing more gamers to create Lost Ark accounts and access it. The game is highly popular due to its gorgeous visuals, outstanding graphics, excellent character designs, and unique gameplay. The ARPG features an isometric view of the field which is similar to other gaming titles of the same genre such as Path of Exiles and Diablo. Unlike the latter two's dark and grim vibes, Lost Ark features a bright, colorful, and vibrant atmosphere that is more visually pleasing for players.
The game is set in the fictional radiant world of Arkesia centuries after the world's battle against the Demonic Legion. In the current timeline, the demon lord Kazeros, who led the Legion, is about to break free from his centuries-long imprisonment in his volcanic jail. Once he is free, he will lead his demonic horde once again to take over Arkesia. Players are plunged directly into the fray as they will be the heroes tasked with locating and obtaining the Lost Ark. This ancient relic was used centuries before to defeat Kazeros and imprison him in his current jail. The heroes must explore dangerous lands and fight hordes of demons and other enemies in order to locate the Lost Ark so that they can bind the demon Lord once again to his volcanic prison.
Lost Ark's Gameplay
To further help players make a decision about their initial class, gamers should have an understanding of the game's gameplay. The game has an isometric view that makes use of a point-and-click movement system. This means that moving, targeting, and attacking are all controlled by the mouse. Meanwhile, skills are activated by slotting them at the keyboard's QWERASDF keys. This is currently the most optimal type of system for the game.
Other than the typical PvE and PvP gameplay, players also have the chance to explore more areas by sailing the seas. Gamers will have to obtain a ship and eventually build their own fleet in order to access more dangerous regions. Shipbuilding and item crafting can be done in the player's stronghold which will serve as their personal base.
What's the most unique thing about Lost Ark is that it uses a feature called the Tri-Pod system. This system allows players to invest their skill points in different abilities of their class. This feature enables characters to develop varying styles of gameplay depending on the invested skills. This means that players do not need to follow a standard or pre-determined build since they can decide how they will play their characters.
Lost Ark Classes
Smilegate's ARPG has five starting classes that players can begin with. These classes will narrow down the type of gameplay or style available to players since each class will have its own specialties and perks. Here is a list of beginner classes in the game:
Warrior – This class serves as the front liner in any situation. Strong powerhouses that can soak up damage as well as dish out heavy attacks. Warriors can be tanks or bruisers depending on their preferences.
Martial Artist – Another melee class that focuses more on agile movements and combo attacks. Though not as tanky as Warrior, Martial Artists are still durable enough to fight in the frontlines while dealing damage over time.
Gunner – The dedicated range class of the game. Gunners are experts at mid to long-range combat. They are able to deal significant amounts of damage while staying at a safe distance ready to dash away at a moment's notice.
Mage – The game's only spellcasting class. Mages can either support their teammates with buffs and heals or deal out huge AoE damage spells that can wipe out mobs with ease.
Assassin – Arguably the squishiest melee class in the game. Assassins make up for their lack of defense with their superbly high offense or attack power. These characters rely on speed and swift attacks to take down opponents without giving them a chance to fight back.
Each of these classes will provide different abilities and different combinations that will alter how the game is played. Also, these classes will further progress into advanced classes when characters level up to a certain milestone. All of these classes will have more than one advanced class, and these more complex jobs will unlock different abilities for the players. Here is the list of advanced classes for each job in Lost Ark:
Berserker – Warriors who become Berserkers are the ones that deal the most damage in this melee class. Though they lose a small percentage of their defense to gain more power, they are still more durable than the majority of the other classes. Once these warriors enter Burst mode, they become unstoppable killing machines while wielding their greatswords.
Paladin – Paladins are balanced warriors who can serve in the frontlines as both shield and sword to their teammates while also acting as a support. Their ability to buff other people paired with high offense and defense makes them great party members to have.
Gunlancer – Considered the most durable class in the game. Gunlancers can soak up damage like a sponge in exchange for losing a portion of their offense, making them the best tanks. However, those who prefer to be fighters rather than shields can still become strong attackers due to the class's versatility.
Striker – Elemental fighters who can also use physical attacks to deal fast combinations of damage. These martial artists fight like a strong wind.
Wardancer – Another advanced class that combines elemental and physical attacks. This class focuses on charged-up attacks rather than swift combos to deal huge damage against their enemies.
Scrapper – These fighters are considered one of the most versatile characters in the game. Their ability to switch between overpowering offense to overwhelming defense makes them hard opponents to face on the battlefield. With their two inverse forms of attack and mobility, they are a force to be reckoned with.
Soulfist – These Fighters who make use of energy called Adamance can switch between ranged and melee. Their offensive power and sustainability ensure that they can stay in battle for as long as they want.
Gunslinger – Gunners who have the largest arrays of guns in their arsenal. These units can switch between their guns to adapt to their current situation. Their agility and quick attacks make it hard for enemies to hit them.
Artillerist – These gunners bring explosive power and pack quite a punch. What they lack in mobility they make up for high AoE damage and decent defense in order to bomb their way through enemies.
Deadeye – Gunners who specialize in using dual pistols, shotguns, and rifles. They are the most versatile in this ranged class being able to support their allies with crowd control as well as dealing tons of damage.
Sharpshooter – This class may be one of the squishiest classes in the game, but they are also one of the biggest damage dealers. Using their mechanical bows and agility, Sharpshooters can dish out large damage over time while maintaining their distance away from the center of the battle.
Bard – These mages are considered the best support class in the game. They can provide various buffs and white spells in order to keep their teammates alive. Though they are widely support-oriented, Bards can still deal tormenting damage with songs.
Sorceress – Powerful mages that use large AoE spells to deal significant damage in just a few hits. Enemies who are unfortunate enough to get hit by these spells are in for a world of pain.
Shadowhunter – These assassins tap into the demonic power in order to use the power of the demons against them. Shadowhunters can channel their inner demons to access stronger forms that make them stronger and deadlier.
Deathblade – Assassins who wield three blades that can attack swiftly and be deadly. Deathblades can tap into the chaos force allowing them to make quick slash combos that are very hard to avoid.
Best in PvE
Exploration and dungeons raids are the main features of the game since it progresses the storyline. Though every class can progress easily with their own styles, some classes are better suited for PvE than others. Here are the classes that are more efficient in dungeons and raids:
Bard – Since this class has the best healers in the game, Bards are very essential to any raiding and dungeon party to make sure that everyone makes it out alive.
Berserker – This warrior class is very straightforward and is the easiest DPS class to use. There are not a lot of combos to remember, and Berserkers deal so much damage they are very good for people who just want to focus on PvE.
Gunlancer – Since this class is considered the best tank class, having Gunlancers in dungeons and raids ensures the success of these ventures. Their high defense, utility, and decent DPS also make them viable for solo playing.
Best in PvP
For players who are more interested in dominating other players than raiding dungeons and exploring, they would prefer to have classes that are more efficient in player-to-player combat. Though any class can do a decent job in this scene, some are just overwhelmingly more efficient. Here are the best PvP classes:
Bard – For the same reason why they are one of the best PvE classes, Bards can ensure the survival of their allies during fights against other players. Their huge heals and buffs ensure the sustainability of their whole team which makes them high-value targets in most clashes.
Deathblade – Running into a Deathblade in PvP might just be one of the worst things any player can experience. These assassins can deal so much damage in just a blink of an eye, and their mobility makes them hard to catch and avoid. This makes this class a huge pain to deal with.
Deadeye – specializing in mid to long-range combat, Deadeyes are some of the best PvP dueling classes in the game. Their ability to deal loads of damage while providing annoying crowd-controls is what makes this class stand out.
Best DPS in Lost Ark
For those who are wondering what other classes are most efficient as DPS units, here is the list of the most optimal and effective classes for dealing damage:
Scrapper
Soulfist
Some people may not just want to limit themselves to the playstyle of Bards but still want to play as support. Fortunately for them, there are other classes that are very viable for the support role. Here is the list of classes that can help via different kinds of reinforcing abilities:
Gunlancer
Best Tank
Other than Gunlancers, there are still other jobs that can take on the tanking role. Here is the list of other viable tank classes:
First Pick Doesn't Really Matter
For players who are unsure of what class to take, Lost Ark is very generous and flexible about rerolling into other classes. Once the gamers' first characters reach certain milestone levels and obtain other abilities, subsequent characters created will level up faster. Progressing classes after the initial character will be far easier than anyone expected, so players will have the opportunity to switch between classes at any time. Any class is viable in the game but we hope this Lost Ark Class Tier List was helpful to players. What's important is that the players enjoy farming Lost Ark gold with them.


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Centennial Grand Master Visit
Dear Brother Masons of the North Texas Area:
COME MEET THE CENTENNIAL GRAND MASTER OF DeMOLAY INTERNATIONAL–Saturday, June 30th, at Richardson Masonic Lodge!!
THIS IS A PUBLIC EVENT — ALL ARE WELCOME TO JOIN US!!
R.W. M. Boyd Patterson, Past Grand Master of the Most Worshipful Grand Lodge of Texas, and Senior DeMolay & Advisor of the Richardson DeMolay Chapter, is being installed as the Grand Master of the International Supreme Council of the Order of DeMolay, in June 2018 at the DeMolay International Congress in Alexandria, VA — making him the Centennial Grand Master of DeMolay International (Est. 1919) — and he will be making an Historic Official Visit to Richardson DeMolay Chapter, on June 30, 2018 (Sat.) at 10:00 am. PLEASE COME WELCOME HIM WITH US!!
Please also remain (after refreshments) for the Richardson Masonic Lodge Installation of Officers, where Bro. Lynn M. Little (Senior DeMolay and Chairman of the Richardson DeMolay Advisory Council) will be installed as Worshipful Master of the Richardson Masonic Lodge #1214, and his son, Bro. Chip Little (Senior DeMolay of, and Chapter Dad of, the Richardson DeMolay Chapter), will be installed as Junior Warden for 2018-19!
YOU WON'T WANT TO MISS THIS HISTORIC OCCASION!! COME ONE, COME ALL!!
Please RSVP with the number of guests you plan to bring, so we can plan for adequate provisions.
Sincerely and Fraternally,
Bros. Lynn M. and Chip Little
Worshipful Master-Elect & Junior Warden-Elect
Richardson Masonic Lodge #1214 A.F. & A.M.
Chip Little – (469) 360-6271 / chip.little@yahoo.com, or
Lynn Little – (214) 693-3309 / lynn.littlephd@yahoo.com


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In Memorium Keith Pugh - W5IU:
Keith Duane Pugh, age 80, died on Friday May 24, 2019 at his home in Fort Worth, Texas. He was born on October 3, 1938 in Dodge City, the son of Thelma Hammer Pugh Clare and Clifford Pugh.
He attended public schools in Dodge City, graduating from High School in 1956. He became a licensed Amateur Radio Operator, WN0QMG, between his freshman and sophomore years in high school in 1953. With a conditional license, he became W0QMG in 1954. Amateur Radio strongly influenced his decision to pursue a career in Electrical Engineering. While at Kansas State University, he became of charter member of the Smith Scholarship House, an affiliation he was very proud of. After completing a BS in Electrical Engineering degree at K-State in 1961, he went to work for Convair (later General Dynamics and Lockheed Martin) in Fort Worth, Texas. Upon moving to Texas, he became W5IYH. In the early '70's he upgraded to Amateur Extra and became W5IU. He retired from Lockheed Martin in 2004, after a long career in RADAR and Navigation Systems Engineering.
In his successful career in engineering he was involved in many projects. Some notable projects were:
F-111 on site radar engineer at GE Utica for APG 113 fire control radar development
F-111 radar flight test at Edwards AFB
F-111 engineering on-site support in Thailand to support Vietnam war
F-16 radar support for flight test and development
Radar support for F-16 cold soak testing at Bodo, Norway
F-16 block 60 development and flight test
In the early 1980s, he became interested in Amateur Radio Satellites. His first satellite contacts were conducted through AO-08 and AO-10. Beginning in the 1980s, Keith served with distinction as an "Area Coordinator" representing AMSAT to local communities in North Texas, Oklahoma and Kansas. Keith's enjoyment of amateur radio, his passion for sharing the hobby with others, and encouraging everyone to become involved with space communications is reflected in his personal involvement with AMSAT.
His first association with manned satellites came from participation in the Soviet Space Exhibit held in Fort Worth in 1991, where he helped to install the exhibit as well as hosted Musa Manarov, U2MIR's visit to the USA. As a part of this exhibit, regular contacts with Cosmonauts on board the Space Station MIR were conducted.
Keith enjoyed coordinating contacts between students and the astronauts in orbit flying the Space Shuttle as part of the Shuttle Amateur Radio Experiment (SAREX). When initial construction of the International Space Station in space commenced in 2000, amateur radio was installed and the Amateur Radio on the International Space Station program (ARISS) began. Keith served as an ARISS School Mentor since 2004, providing technical support and advice to ensure that schools around the country that were selected for a scheduled ARISS contact had properly prepared their amateur radio communications equipment to successfully conduct two-way communication with the Space Station while the ISS orbited over their location.
He gave numerous satellite presentations to local clubs and organizations, provided an AMSAT presence at many small hamfests and swap-meets in Texas, Oklahoma and Kansas as well as coordinated AMSAT's presence at Ham-Com and other larger hamfests in the Southwest. Keith also served as Chairman for the 2002 AMSAT Space Symposium in Ft. Worth and prior to that the 1993 AMSAT Space Symposium in Arlington, TX. His passion for demonstrating "working the satellites" was reflected by his annual trips to the Dayton (OH) Hamvention where he setup and operated a fully functional satellite station at Hara Arena on behalf of AMSAT. His activities drew large crowds of amateurs who had not previously witnessed a satellite contact. He did this until 2016 when his medical condition limited his ability to travel and he turned over the reins to Paul Stoetzer, N8HM who has continued the tradition established by Keith. The last hamfest where Keith had an AMSAT presence was the 2019 Cowtown Hamfest in Forest Hill, Texas.
For many years Keith served as net control for the AMSAT International HF Net on Sunday afternoons that encouraged amateur radio operators throughout North America to exchange information about amateur radio satellites as well as provided a conduit for reading the weekly AMSAT News Service (ANS) Bulletins.
Keith joined QCWA (Quarter Century Wireless Association) as soon as he was eligible. He was also interested in casual DX, weak signal VHF/UHF and Microwave. His passion for sharing and helping others was seen in his final wishesthat his radio equipment be given to the Cowtown Amateur Radio Club to help others continue to pursue Ham Radio.
Keith held a private pilot license and even took a tour around Australia in a Cessna 172 aircraft. He became a member of First Presbyterian Church Fort Worth in 1998 and served as an Elder. In his retirement, Keith was a faithful member of the committee that met every Monday morning to count the weekly receipts and make a record of contributors. Serving others came naturally for Keith. He was part of the Southwest Care Team, shuttle driver coordinator, and choir member at First Presbyterian Church. In the community, he was a long-time member of the Kiwanis organization. Other volunteer activities included some aspect of radio. He was support radio coordinator for Cowtown Marathon and many other fundraising events for charities for over 40 years.
Keith never married or had children but nonetheless he was part of a large family, he was proud to be included in holidays by his cousin, Kay Schmitt's family in Kansas, when his immediate family had passed. Spending Christmas with his extended family was a special time. Everyone enjoyed seeing pictures of his travels and hearing stories of talking to astronauts. He was included in a studio family picture one year and he determined he had officially been adopted at 70 years old.
Memorial service will be held at First Presbyterian Church in Fort Worth at 2:00 pm, Thursday, June 6, 2019. Graveside services will be held at Maple Grove Cemetery in Dodge City at a later date. Swaim Funeral Chapel, Dodge City is assisting the family with arrangements. In lieu of flowers, memorials are suggested to the Fort Worth First Presbyterian Church or donor's choice in care of Swaim Funeral Chapel. Thoughts and memories may be shared in the online guest book at www.swaimfuneralhome.com.


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11/01/2013 EBA/BS/2013/002 Report on the administration and management of Euribor Risk Analysis & Economics - Markets Infrastructure Investors Final Report PDF
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1.12 MB The European Securities and Markets Authority (ESMA) is publishing its Risk Dashboard No.4 for 2013. The Risk Dashboard provides a snapshot of risk issues in the third quarter of 2013 and covers the following areas: Economic environment and securities markets conditions; Liquidity Risk; Market Risk; Contagion Risk; and Credit Risk.
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22/09/2014 JC/2014/063 Joint Committee Report on Risks and Vulnerabilities in the EU Financial System Risk Analysis & Economics - Markets Infrastructure Investors, Joint Committee Final Report PDF
507.84 KB The Joint Committee of the European Supervisory Authorities (ESAs) published today its bi-annual report on risks and vulnerabilities in the European Union's (EU) financial system. The report identifies a number of risks to financial stability in the EU, including prolonged weak economic growth in an environment characterised by high indebtedness, intensified search for yield in a protracted low interest rate environment, and uncertainties in global emerging market economies. The report also highlights risks related to conduct of business and Information Technologies (IT).
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This report fulfils the mandate received by the European Securities and Markets Authority (ESMA) from the European Commission (EC) in February 2014 to provide it with an update on the level of convergence of the Indian Accounting Standards (Ind-AS)1 towards International Financial Reporting Standards (IFRS) and the quality of application and enforcement of the Ind-AS, so that the EC can provide a progress report to the Council and the European Parliament (EP) in line with its obligations under Commission Regulation (EC) 1569/2007.
14/11/2014 2014/1341 ESMA Risk Dashboard No. 4, 2014 Risk Analysis & Economics - Markets Infrastructure Investors Final Report PDF
766.77 KB The European Securities and Markets Authority (ESMA) has today published its Risk dashboard for the third quarter of 2014. ESMA's Risk Dashboard assess the risks associated to European financial markets looking into liquidity, market, contagion and credit risks. The Dashboard finds that in 3Q14 EU systemic stress indicators increased, after experiencing a calm 2Q14. Contagion risk augmented and liquidity and market risk remained on high levels, with potential for further increases ahead. Credit risk receded though remaining at a high level. Overall, market sentiment continued to be at odds with sluggish economic fundamentals and guarded expectations. An environment of ultra-low interest rates supported markets and preserved the current hunt-for-yield behaviour of investors. However, markets recognised resulting new balance sheet risks, as risk spreads increased, equity valuation moderated and expectations for future short-term interest rates fanned out. Due to these offsetting forces liquidity risk and market risk remained stable, preserving the risk of critical market corrections for the future. The systemic impact of such corrections could be exacerbated by liquidity bottlenecks, such as might arise from structural factors such as thin dealer markets or rising collateral requirements.
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