Role of Infrastructure Projects of European Central Bank in Development of Financial Integration in EU

Infrastructure projects of ECB are some of the key levers in developing financial integration in EU. These projects comprise existing system TARGET2 and systems T2S и CCBM2 that are to be launched in 2013. Each of them ensures the single platform for conducting the main financial operations: uncovered and pledge interbank operations, as well as cross-boarder movement of securities. Due to single requirements and cost structure, the price for conducting trans-boarder financial operations should decrease to the intra- country level, which will minimize the distortion of the price for similar financial products in different EU-members and thus will lead to deeper financial integration.

The Special Features of Monitoring of West-European Banks’ Financial Standing in Terms of Sovereign Debt Crisis

This paper represents key aspects of improvement of traditional approaches to monitoring West-European banks’ financial standing in terms of sovereign debt crisis that are based on the introduction of new principles of analysis as well as widening the spectrum of analytical tools. The paper also represents the author’s vision of sovereign debt crisis background, classification of possible sovereign debt crisis impacts on the financial standing of the West-European banks and its potential consequences for the banking sector of that region. In present conditions these aspects are recommended to be taken into consideration by the Russian banks within the
framework of their regular operating activity.

Main Features and Development of the Corporate Governance in Russian Companies

The article analyzes current problems of the corporate governance in Russia. The focus is on the quality of corporate governance as well as transparency of Russian business entities. The impact of the global financial crisis on the governance of large corporations specifically in Russia is covered. In conclusion the transformation of the corporate governance of Russian companies in today's business climate is investigated.

Status and Prospects of Hydrogen Energy development

The term «hydrogen energy system» (HES) has acquired huge popularity in the sphere of science, economy and a policy in the last ten years in connection with a problem of nonrenewable energy resources depletion – hydrocarbons. The analysis of numerous publications on this items shows, however, that this term often is understood as a number of various programs. We will try to split, allocate these programs main driving ideas of each of the programs and to evaluate critically their condition at the moment, to consider some technological achievements which can render material effect on the further HES development.

Political Aspects of Financial Regulation in Spain

The article explores the reform of financial regulation and supervision in Spain in the context of convergence of financial markets regulation norms on macroregional (European) and global scales. The necessity of change in financial regulation is determined not only by extremely negative effects of the global financial economic crisis for the Spanish economy. The author concentrates attention essentially on political reasons and possible political consequences of the reform in the particular sphere for the country. These reasons and consequences affect the process of decentralization of the Spanish state on the way of federalization, desire of the political elites in Madrid for a more active participation of Spain in an emerging multilevel system of global governance.

Some Aspects of the Recent Political Confrontation between Israel and Iran

Relations between Israel and Iran remain one of the key factors for the Middle East and have a direct influence on the situation in security sphere in other regions of the world. The article deals
with the reasons of the current crisis in the Israeli- Iranian relations taking into account the problem of the Iranian nuclear program. The author analyzes the prospects of further developments, noting that the recently increased political rhetoric between the Iranian and the Israeli leaders is used by them as a tool for achieving certain of goals in foreign affairs and in domestic policy.

The Palestinian quasi–state and Middle East politics

The article of G. Kosach “The Palestinian quasi–state and Middle East politics” analyzes role and position of Palestinian National Authority (PNA) in the regional subsystem of international relations. The author describes the historical background of PNA formation and positions of regional actors (Arabic countries and Israel as well) concerning the possibilities of transforming this quasi–state into efficient state entity. The process of differentiation of these positions in the context of current
«Arabic revolutions» is emphasized.

Evolution of the Global Information Society: Security Aspects

Trends of the evolution of global information society depend on the information security. New lines of political conflicts and divides emerge in the global information sphere as a result of aggressive policy of states, which create plans of information wars and conflicts. However transnational nature of the information society creates interdependence and thus incentives for international cooperation in the field of information security.