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Language equality in the digital age - Towards a Human Language Project

24-03-2017

The EU is a unique endeavour involving more than 500 million citizens sharing about 80 different languages, and while multilingualism is a key feature, it is also one of the most substantial challenges for the creation of a truly integrated EU. Language barriers have a profound effect on cross-border public services, on fostering a common European identity, on workers’ mobility, and on cross-border e-commerce and trade, in the context of a Digital Single Market. The emergence of new technological ...

The EU is a unique endeavour involving more than 500 million citizens sharing about 80 different languages, and while multilingualism is a key feature, it is also one of the most substantial challenges for the creation of a truly integrated EU. Language barriers have a profound effect on cross-border public services, on fostering a common European identity, on workers’ mobility, and on cross-border e-commerce and trade, in the context of a Digital Single Market. The emergence of new technological approaches, based on increased computational power and access to sizeable amounts of data, are making Human Language Technologies (HLT) a real solution to overcoming language barriers. However, several challenges, such as market fragmentation and unsubstantial and uncoordinated funding strategies, are hindering the European HLT community, including research and industry.

External author

Rafael RIVERA PASTOR, Iclaves S.L. Carlota TARÍN QUIRÓS, Iclaves S.L. Juan Pablo VILLAR GARCÍA, Iclaves S.L. Prof. Toni BADIA CARDÚS, PhD, Universitat Pompeu Fabra Prof. Maite MELERO NOGUÉS, PhD, Universitat Pompeu Fabra

Carving Out Legacy Assets: A Successful Tool for Bank Restructuring?

15-03-2017

This paper drafted under supervision of the Economic Governance Support Unit considers a number of issues related to the restructuring of troubled banks in the EU. First, we provide an overview of how legacy assets have been dealt in a number of countries (drawing in particular upon the experience in Japan, the USA, Sweden and Spain), which support the case for a centralized solution in the presence of a generalized banking crisis. Second, we shed light on the need to differentiate between systemic ...

This paper drafted under supervision of the Economic Governance Support Unit considers a number of issues related to the restructuring of troubled banks in the EU. First, we provide an overview of how legacy assets have been dealt in a number of countries (drawing in particular upon the experience in Japan, the USA, Sweden and Spain), which support the case for a centralized solution in the presence of a generalized banking crisis. Second, we shed light on the need to differentiate between systemic and non-systemic events by examining the relevant literature on the credit channel. Third, we elaborate the theoretical argument on the need for a systematic centralised approach at the EU level to deal with legacy assets in bank restructuring to maintain fair recovery rates. Finally, we provide a preliminary assessment of the business models, risk, response to regulation and performance of 38 state aided banks via recapitalisation measures and explicit restructuring requirements with an emphasis on APS-AMC arrangements using available data between 2005 and 2015. The indicators show that these state aided banks are returning progressively to soundness and struggling to regain performance levels of the pre-crisis period, which is a generalised problem of the European banking sector.

External author

Rym Ayadi, Giovanni Ferri and Rosa M. Lastra

Fighting tax crimes – Cooperation between Financial Intelligence Units