"A casual reader of much recent commentary could be forgiven for believing
that European governments are blindly enacting harsh policies of austerity,
under the watchful eye of a European Commission obsessed with enforcing
arbitrarily chosen nominal deficit targets. It is time to debunk this damaging
myth.
In fact, the European Union's Stability and Growth Pact can adapt a country's
agreed fiscal adjustment path if the economic situation calls for it. Alongside the nominal targets for deficit reduction, each new recommendation
issued to a member state specifies the structural fiscal effort to be achieved
each year until the excessive deficit is corrected. While the nominal targets
may continue to dominate the headlines, the Commission focuses its assessments
of member states' actions first and foremost on their compliance with the agreed
structural effort.
This is consistent with another little-known, yet key element of the pact:
the medium-term objective of a balanced budget in structural terms. The
appropriate pace of progress towards this medium-term objective is agreed by
taking into account the specific economic circumstances of each EU member state.
Accordingly, a member state may receive extra time to correct its excessive
deficit. This has occurred twice this year already: in July for Spain, and in
October for Portugal. Both now have until 2014 to bring their government
deficits back below 3% of GDP. ".... excerpt of OR's article in the WSJ
7 comments:
La nivel politic nu există un consens asupra cauzelor sau soluţiilor problemelor importante pentru economie. Liderii politici de la nivel mondial se împart în două categorii: cei care susţin măsurile de austeritate şi cei care vor cu orice preţ reluarea creşterii economice. Divergenţele politice pot conduce economia spre o gaură neagră, scriu jurnaliştii de la businessinsider.com.
Deşi există un consens în privinţa faptului că economiile trebuie să îşi accelereze creşterea şi că este nevoie de mai multe locuri de muncă pe termen scurt, există o mulţime de divergenţe între ţări, dar şi în interiorul fiecărei ţări, legat cum se pot atinge aceste obiective, scrie publicaţia citată.
"Viziunea ortodoxă atribuie majoritatea dificultăţilor de acum faptului că datoria privată şi publică au crescut mult şi pune accentul pe măsurile de austeritate şi pe politicile monetare, evidenţiind totodată necesitatea unor reforme structurale pe termen lung, mai degrabă decât pe măsuri pe termen scurt care pot încuraja creşterea", a spus Lawrence Summers, citat de Financial Times.
citeste pe t a m t a m u r i . r o :
Bordelul securitatii
Întâmplare ca în filmele cu proşti, cam aşa s-ar traduce ispravă unei femei din Spania!
Tatuaje, piercing, durere?!?
Baieti frumosi
Din suflet pentru Manele si Manelisti
Mireasa ii facea sex oral cavalerului de onoare, mirele o cauta disperat – VIDEO
15 Atingeri care o dau gata!
Gina Pistol se simte datoare să voteze
Parodii na Pesni
Intrare in stațiunea Mamaia doar cu buletinu
Râzi cu lacrimi
Ce stil de invatare te caracterizeaza?
INNA – Tu si Eu (Rock the Roof – Mexico City)
A MURIT VADIM? Vezi aici adevărul!
Trageti-i-o
Uniunea Europeana a prelungit luni cu un an sanctiunile impotriva Belarusului, subliniind ca este in continuare "puternic ingrijorata de nerespectarea drepturilor omului, democratiei si statului de drept" in aceasta tara condusa autoritarist de catre Aleksandr Lukasenko. "Dat fiind ca detinutii politici nu au fost inca eliberati, ca niciun detinut eliberat nu a fost reabilitat si avand in vedere absenta unei ameliorari" a situatiei democratiei in tara, ministrii europeni de Externe au decis sa prelungeasca cu un an atat blocarea averilor, cat si interdictiile de eliberare de vize turistice aflate in vigoare impotriva a 243 de membri din cadrul regimului, in cursul unei reuniuni la Luxemburg, potrivit Mediafax.
Blocarea averilor a 32 de societati comerciale este prelungita, de asemenea, pentru o perioada suplimentara de 12 luni.
Membrii regimului sunt acuzati de "incalcari grave in domeniul drepturilor omului sau de reprimarea societatii civile si opozitiei democratice", de obtinerea unor avantaje de la puterea lui Lukasenko sau de sustinerea acesteia.
Un embargo asupra armamentului si unor materiale legate de reprimare este, de asemenea, in vigoare incepand din iunie 2011.
Uniunea Europeana si-a exprimat regretul cu privire la faptul ca alegerile organizate la sfarsitul lui septembrie au reprezentat o "ocazie ratata de organizare a unor alegeri care sa respecte normele internationale".
Grupul Alianta Liberalilor si Democratilor pentru Europa (ALDE) din Parlamentul European se reuneste marti si miercuri la Bucuresti, potrivit Agerpres. Potrivit programului evenimentului, marti, va avea loc lansarea cartii 'Criza financiara', volum semnat de liderul grupului liberal din Parlamentul European, Guy Verhofstadt, la care sunt anuntati ca participanti presedintele PNL, Crin Antonescu, seful delegatiei PNL din PE, Norica Nicolai, ministrul Economiei, Daniel Chitoiu, si reprezentanti ai mediului academic, informeaza EurActiv.ro
Tot marti, europarlamentarii Norica Nicolai si Sarah Ludford vor participa la o conferinta de presa dupa dezbaterea din grupul ALDE cu privire la sistemul judiciar din Romania, iar Guy Verhofstadt si Crin Antonescu vor sustine o conferinta de presa, de la ora 18,15, referitoare la situatia politica a Romaniei.
In cursul zilei de miercuri vor fi prezentate concluziile reuniunii ALDE, intr-o conferinta de presa, programata pentru ora 12,00, la care vor participa presedintele PNL, Crin Antonescu, si europarlamentarii liberali.
In aceeasi zi va avea loc, de la ora 14,00, dezbaterea cu tema 'Accesul la finantare. Motorul cresterii competitivitatii IMM-urilor'. In deschiderea evenimentului vor vorbi Guy Verhofstadt, presedintele Grupului ALDE, si Daniel Chitoiu, ministrul roman al Economiei, Comertului si Mediului de Afaceri.
Primul panel al dezbaterii, intitulat 'Masuri de reglementare pentru ameliorarea accesului IMM-urilor la finantare', va fi moderat de europarlamentarul Cristian Busoi, iar speakeri vor fi Mihai Voicu, ministru delegat pentru Mediul de Afaceri, Julien Guerrier, reprezentant al Comisiei Europene, Jurgen Creutzmann, eurodeputat ALDE, si Ovidiu Nicolescu, presedinte al Consiliului National al Intreprinderilor Private Mici si Mijlocii din Romania.
La cel de-al doilea panel - 'Accesul la finantare in practica' - moderator va fi eurodeputatul ALDE Philippe de Backer, iar vorbitori - Viorel Popescu, director general Mibatron, Arhip Janel, director general Seletron, Florin Danescu, presedintele executiv al Asociatiei Romane a Bancilor, Daniel Cosnita, presedintele Asociatiei Clusterelor din Romania, si un reprezentant al Bancii Europene de Investitii.
I know of at least two people who have sold up and moved from France, taking their money with them.
One moved to leafy Hertfordshire, the other to Bruges.
Both of them are able to continue working regardless of location and have said that it is folly to leave money in France as it is being taxed too highly and that there is too much bureaucracy involved in running their businesses there.
They have both fired staff and got out whilst still able to, and that meant selling homes whilst there was still some market value in them.
I wonder how many others are doing the same?
“The situation is very serious. Some business leaders are in a state of quasi-panic,” said Laurence Parisot, head of employers’ group MEDEF.
“The pace of bankruptcies has accelerated over the summer. We are seeing a general loss of confidence by investors. Large foreign investors are shunning France altogether. It’s becoming really dramatic.”
MEDEF, France’s equivalent of the CBI, said the threat has risen from “a storm warning to a hurricane warning”, adding that the Socialist government of François Hollande has yet to understand the “extreme gravity” of the crisis.
The immediate bone of contention is Article 6 of the new tax law, which raises the top rate of capital gains tax from 34.5pc to 62.2pc. This compares with 21pc in Spain, 26.4pc in Germany and 28pc in Britain.
“Let’s be clear, Article 6 is not acceptable, even if modified. We will not be complicit in a disastrous economic mistake,” Mrs Parisot told Le Figaro.
Quote: "warning that confiscatory tax rates threaten lasting damage to the French economy." -Mr Hollande, who appears to be a socialist of the old school, is clearly playing a dangerous set of cards while failing to realise that jacking up taxes to stranglehold levels in a country, which still continues to lose its manufacturing base and jobs at an alarming rate, is sheer foolishness. Of course, a political ideology based on the concept that money grows on trees, and where others are always to blame for one's own failings, will not subscribe to this point of view. This would not have mattered back in the days of the EEC, but it sure does in the context of EMU.The Greeks, Spaniards, and Portuguese may be demonstrating with vigour against the austerity measures, yet such manifestations of anger will seem fairly mild in comparison to how the French citizens will react once the going gets really tough, particularly if they seek a similar approach to that of 1789 (the "R" word) in their desperate attempt to save a bloated cradle to grave welfare state that the self-proclaimed "grande nation" simply cannot afford. Indeed, France and flexibility do not have much in common.However, the most likely outcome of this prime example of socialist financial extremism could be the Germans having to pick up the tab for the former French utopian vision of the single currency, imposed upon Germany prior to reunification. That said, the impending serious financial turmoil in France, as those with significant wealth rapidly make their escape to kinder horizons, will (hopefully) most certainly accelerate the demise of EMU, and thus restore the natural differences between the countries (still) part of the EU, and with it the hope of a return to a European structure less characterised by the political straitjacket the EU has become.
Post a Comment