Local residents built barricades to block the pipeline works.

The pipeline would come onshore in the beautiful seaside town of San Foca.

People in Melendugno protecting olive trees from the Trans Adriatic Pipeline.

One does not play with matches next to a gas pipeline or a bundle of dynamite.

Planned construction would have seen the removal of ancient olive trees to make way for the pipeline, but following fierce protests, the work was suspended in early April.

Their message is né qui né altrove No TAP, not here or anywhere .

Equally important, the panelists reported on the rising importance of liquid natural gas relative to pipeline gas, which has enormous geopolitical implications.

And a gas pipeline from Turkmenistan to Pakistan, which would traverse the country, is coming closer to reality.

Public works negotiated by BNDES in the South American Amazon include hydroelectric dams with cracks, pipelines with leaks, and a railroad that shook the presidency of Bolivia.

No one knows what will happen next, but the local No TAP Committee is determined to stop the pipeline altogether.

Lending to euro area credit institutions related to monetary policy operations denominated in euro 5.1 . Main refinancing operations 5.2 .

On average, every year or two, a new oil or gas pipeline opens up under the Mediterranean, connecting North Africa to Europe.

Some fear the construction of the pipeline and a gas receiving terminal would cause significant damage to the local landscape and coastline.

Overview of the monetary policy framework Open market operations Main refinancing Reverse transactions operations Longer term refinancing operations Fine tuning operations Reverse transactions

Official Journal of the European Union

Liquidity providing OPEN MARKET OPERATIONS Main refinancing operations Longer term refinancing operations Fine tuning operations Reverse transactions Reverse transactions Reverse transactions Foreign exchange swaps Liquidity absorbing

Open market operations Main refinancing Reverse operations transactions Longer term refinancing operations Fine tuning operations Reverse transactions Reverse transactions Foreign exchange swaps One week Three months Weekly Monthly Standard tenders Standard tenders

Code Sample New business New business New business Sample Sample All banks New business

Open market operations Main refinancing operations Longer term refinancing operations Fine tuning operations Reverse transactions Reverse transactions Reverse transactions Foreign exchange swaps One week Three months Weekly Monthly Standard tenders Standard tenders

Open market operations Main refinancing operations Longer term refinancing operations Fine tuning operations Reverse transactions Reverse transactions One week Three months Weekly Monthly Standard tenders Standard tenders

Back Office Front Office Investment Market Operations Analysis Market Operations Systems

Code Sample New business New business New business Sample Sample ( 41 MFIs )

Open market operations Main refinancing operations Longer term refinancing operations Fine tuning operations

Open market operations Main refinancing operations Longer term refinancing operations Fine tuning operations Reverse transactions Reverse transactions One week Three months Weekly Monthly Standard tenders Standard tenders

Open market operations Main refinancing operations Longer term refinancing operations Fine tuning operations Reverse transactions Reverse transactions Two weeks Weekly Standard tenders

Open market operations Main refi nancing operations Longer term refinancing operations Fine tuning operations Reverse transactions Reverse transactions Reverse transactions Foreign exchange swaps One week Weekly Standard tenders Standard tenders Quick tenders Bilateral procedures

Back Office Front Office Investment Market Operations Analysis Market Operations Systems Directorate General Market Operations Francesco Papadia Deputies Paul Mercier , Werner Studener

Open market operations Main refinancing operations Longer term refinancing operations Fine tuning operations

NL . 01 Sample New business New business New business Sample Sample ( 41 MFIs ) All banks Outstanding amounts

Such operations are carried out through a weekly standard tender and normally have a maturity of one week .

Open market operations Main refinancing operations Longer term refinancing operations Fine tuning operations Reverse transactions Reverse transactions One week Weekly Standard tenders

Such operations are carried out through a weekly standard tender and normally have a maturity of one week .

These operations are treated as financial transactions .

Code Sample New business New business Sample

Reverse transactions Foreign exchange swaps

In 1982, in the middle of the Cold War in Soviet Siberia, a pipeline exploded with a burst of 3 kilotons, the equivalent of a fourth of the Hiroshima bomb.

The national government sent in police to defend the interests of the pipeline company, pushing the crowds back with shields and batons to allow the company to continue to explant trees.

Longer term refinancing operations

Transactions per type of payment instrument ( 1 ) Transactions per type of terminal ( 1 )

Transactions per type of payment instrument ( ) 1 Transactions per type of terminal ( 1 )

their maturity is not standardised a priori

Outright purchases Structural operations Reverse transactions Outright purchases

Interest rates on CDs between 18 and 24 months BISM .

New business Outstanding amounts and new business

The time of settlement of the main and the longer term refinancing operations normally coincides with the time of reimbursement of a previous operation of corresponding maturity .