No abstract

French-lines, synonymously. Due to the statistical nature of fatigue events, however, Wohlerdiagrams more and more are statistically ascertained and described by curves which commonly are referred as to probability-stress-cycle curves (PS-N). Accordingly, it was to find out, whether the feature ,,damage" might be described in a similar way, aiming at P,-S-N curves (Pd = Probability of damage) within the expected damage field. Using the steels Ck 35 and 34 CrMo 4 quenched and tempered, the statistically planned and evaluated investigations showed that within the Wohlerdiagrams of these steels large damage fields can be defined which extend from far before the ranges of finite life till far into these ranges (of scatter). Pd-S-N curves are given. Satisfactory shortcutmethods for estimating such curves using features as specimens' temperature and deformation during cyclic pre-loading could not be developed.By progressively increasing and -another sample -decreasing load tests to the same account of 0,34 Pulmgren-Miner-damage specimens showed remarkable differences when compared within French's concept of damage, I Einleitung

This research paper examines whether and how much the regulations through the Community Directives and Regulations at European level as well as the laws which govern Money and Capital Markets in the United States helped, strengthened, protected the international financial system, if other markets were developed by moving transactions and if they contributed to the change of the world economic circles. The investigation of the impact on investors and national jurisdictions, namely, whether they are protected and whether all the factors in the system are affected, has concluded that the realization of a actually international single regulatory framework for all financial products is far away from reaching its ultimate and realistic achievement. However, the theoretical existence of a unified regulated market framework and model of organized markets, as long as, with a set of regulatory, organizational and economic policies that will shield it up to the point of a balanced regulation, offering equal information to the participants, with less transaction costs and thus increased transparency, liquidity and reducing market abuse cases and manipulation, is proved as feasible and can be implemented.

This paper aims the research whether the application of European Directive MiFID, had any significant effects on the European Capital Markets and the progress of the European Integration. This new regulation specifies the tasks and responsibilities of the supervisory authorities of the Member State of origin and the host Member State, in order to enhance the certainty of effectiveness of cross border transactions supervision and to reduce the risk of imposing unnecessary legal reforms from the host Member State on investment firms which perform cross border transactions. The research work focuses on the existing regulation and the literature for MiFID and European Integration and on whether the set of its regulation reforms could aim (or not) in contributing to excess of the European Capital markets and Institutions as long as the financial integration of EU. The reasons for the different degrees of integration and liberalization, is essentially related to financial structures. Under this reasoning, we have examined the effects on European Financial Market Integration concerning banks, Stock Exchanges and financial intermediaries and we have concluded, among others, that the aligning of the national regulatory approaches to a common European regulatory system is quite necessary. We finally conclude that MiFID will contribute to reduce problems at country level as the previous experience of the Investment Services Directive, where the European investments and economies of Member States were based mainly on the level of "country" and not of the "sector".

Under their adaptable production structures and quick adjustment to technological innovations in the world economic developments, SMEs are among the most important wheels of both the EU economy and the whole global economy. This paper examines, the significance and the size of SMEs which contribute to production capacity, financial investments, economic development, and EU/national income, as well as employment and management and other areas, are combined and studied using a set of data and information; therefore, the EU Programmes which provide financial support are mainly organized regarding the financial issues of SMEs are also introduced. Under this logic, the parts of the funding programmes offered to SMEs within the EU budget over the budget period from 2014 to 2020 in the Union’s budget are assessed, and recommendations are suggested for the next years 2021-2027, as well. Consequently, banks and/or other financial institutions may not be able to constitute credit products, interest rates, loan amounts and appropriate repayment maturities that are suitable for the needs of SMEs, or most importantly, they may not have sufficient resources to finance specific credits.