Because of their high density together with extremely small spreads in betatron frequency and momentum, cooled beams are very vulnerable to incoherent and coherent space-charge effects and instabilities. Moreover, the cooling system itself, i.e. the electron beam in the case of e-cooling, presents large linear and non-linear 'impedances' to the circulating ion beam, in addition to the usual beam-environment coupling impedances of the storage ring. Beam blow-up and losses, attributed to such effects, have been observed in virtually all the existing electron cooling rings. The adverse effects seem to be more pronounced in those rings, like CELSIUS, that are equipped with a cooler capable of reaching the presently highest energy (100 to 300 ke...