Tuesday, December 11, 2012


The centre-left coalition of Prime Minister Victor Ponta is projected to win Romania's general election.
Exit polls gave his Social Liberal Union (USL) about 57% of the vote, as compared with just 19% for President Traian Basescu's Right Romania Alliance (ARD).
Mr Ponta said: "This is a clear victory with an absolute majority."
But he will have to share power with Mr Basescu, whose term runs until 2014. Official results are not expected until Monday. Mr Ponta and Mr Basescu have been locked in a power struggle since Mr Ponta came to power in April following the collapse of the previous centre-right government.
The two men have argued over control of state television and the Romanian Cultural Institute and attempts to draw up a new electoral law. Political decision-making has at times been paralysed.
In July, Mr Ponta suspended Mr Basescu and tried to impeach him. But a referendum failed to meet the required turnout.
Mr Basescu hinted before the election that he might refuse to re-appoint Mr Ponta as prime minister. He has described him as a "mythomaniac"....Mr Basescu's popularity has plummeted since he introduced stringent austerity measures and a 25 per cent cut in pub lic sector pay. The country, together with neighbour Bulgaria, are under special EU monitoring because of concerns about judicial independence, corruption and political influence in state institutions. Romania is trying to negotiate a new loan from the IMF to replace the existing one which expires early next year.
BUCHAREST, Romania — Romania’s center-left government won a clear victory in Sunday’s parliamentary elections, according to exit polls. The result could inflame the personal rivalry between the nation’s top two officials and bring yet more political upheaval. The prime minister’s governing alliance had about 57 percent of seats in the 452-seat legislature, according to a poll published after elections on national television TVR. Coming in second was a center-right group, allied to President Traian Basescu, which polled over 18 percent. A populist party headed by a media tycoon won about 13 percent, according to the poll. First results are expected Monday. Basescu and Ponta are bitter rivals after the government tried to remove Basescu from office in an impeachment vote in July, a bid that failed as too few people voted to make the election valid. Basescu has indicated he won’t appoint the 40-year-old Ponta again, calling him a “compulsive liar” and saying he plagiarized his doctoral thesis. Ponta says Basescu is a divisive figure who overstepped his role as president by meddling in government business. As he voted, Basescu again accused the government of the former communist country of failing to devote itself to democratic reforms. He said Romania must continue its “path toward the West” and show the world it is “headed toward Brussels, not Moscow, and Washington, not Beijing.” For his part, Ponta said he remains committed to leading Romania to a better future. Many Romanians are fed up with the power struggle between the top two leaders, especially as the country remains one of the poorest and most corrupt members of the European Union. Romania is enduring deep austerity cuts in return for a €20 million ($26 million) bailout to help its foundering economy. Sunday’s vote was hampered by heavy snow and authorities asked the army and the defense ministry to help clear roads closed by blizzards. About 250 polling stations were prevented from opening on time, officials said. Turnout was more than 30 percent three hours before the polls closed.
 
IN EUROPE: Italy faces a return to political chaos - IN FACT , ITALY WANTS OUT FROM UNDER THE GERMAN BOOT - after Prime Minister Mario Monti announced at the weekend that he will resign, prompting his notorious predecessor Silvio Berlusconi to say he would attempt a comeback. The renewed uncertainty sent European shares into a slump as trading for the week began on Monday morning. Investors aren't the only ones worried, either. German Foreign Minister Guido Westerwelle told SPIEGEL ONLINE on Monday that the situation in Italy threatened to spark renewed financial problems in the euro zone. "Italy can't stall at two-thirds of the reform process," he said. "That wouldn't cause turbulence for just Italy, but also for Europe." Westerwelle's concerns were echoed by Klaus Regling, the head of the permanent euro-zone bailout fund, the European Stability Mechanism (ESM), who told German daily Süddeutsche Zeitung on Monday that he feared the heavily indebted country could abandon necessary reforms. "In the last year Italy has pushed through important reforms," he told the paper. "So far, the markets have honored that, although they have reacted with concern to the developments of recent weeks." The reform process must continue for the sake of both Italy and the entire currency union, Regling said. BERLUSCONI SHOUL GET iTALY OUT OF THE FOURTH REICH !!!!

6 comments:

Anonymous said...

"Europe's economic crisis deepens ... the situation today is far worse than a year ago when [Berlusconi] left the government ... the ECB expects economic contraction of 0.3pc next year."

I don't know what it's like for expert journalists like Ambrose Evans-Pritchard, Jeremy Warner, Philip Aldrick, Kamal Ahmed et al as they, like us, observe events unfolding in the European Union/Eurozone?

However, for years now ordinary citizen schmucks like me have looked on in disbelief at the antics of the Euro elites. Pretty much from the get-go it was a no-brainer to foresee that the European Union political and banking elites were setting the continental ship on a collision course for the skerries. You could see it, dear fellow DT commenter; I could see it; my dementing mother-in-law could see it; no doubt the DT's expert journalists could see it.

And yet today, as we watch the gin palace that is the European Union proceed full steam ahead on to the rocks, nobody seems to be able to grip it. Who's the Captain of the good ship EU? Is it that Italian bloke that started showing off in the MS Costa Concordia before holing it below the water line (and "falling in to a liferaft")? It certainly seems like it from where I'm sitting.

I mean for just how much longer do disenfranchised oiks like me to have sit here pouring our hard-earned spondulicks in to the looming disaster that is the European Union whilst knowing full well that there's only one conceivable outcome to all this: a full-on ship wreck.

This must be the most surreal episode in my life. Watching the combined economies of a continent being steamed with utmost resolution on to the rocks by that continent's political class. And all along the continent's citizens sleep fitfully down in the hold, largely oblivious to the disaster being charted and commanded from the bridge.

The question is, are Europe's politicians really hell-bent on collapsing the continent's economy, or have they simply lost complete control of events? This a serious and critically important question, the answer to which we should be told. Over to you Evans-Pritchard, Warner, Aldrick, Ahmed et al.

Anonymous said...

Gigantul rus Gazprom are planuri serioase pe piața locală, începând din 2013: vrea să extragă petrol și să vândă benzină, prin intermendiul grupului petrolier din Serbia, NIS, unde deţine pachetul majoritar.

Gazprom a început să facă recrutări de personal şi să poarte negocieri pentru preluarea unui număr important de staţii de distribuţie a carburanţilor pe piața locală, încă de anul trecut.

Potrivit unor surse din piață, NIS vrea să aibă, în următorii doi ani, între 120 și 140 de benzinarii în Romania.

Anul trecut, cei de la Gazprom au angajat o casă de avocatură prin care au purtat negocieri cu benzinari particulari.

NIS a achiziţionat deja 28 de benzinării OMV din Bosnia, a anunţat grupul austriac OMV, acţionarul majoritar al Petrom, cea mai mare companie din România. Preluarea face parte din strategia de dezvoltare regională a NIS, care include extinderea operaţiunilor de retail din Balcani. Cand vinzi resursele minerale si energetice deja nu mai ai independenta.Ori noi asta am facut..Statul roman a ajuns cu buna stiinta la mana unor companii private.Companiile de stat nu sunt profitabile,deoarece nu se vrea acest lucru si bineinteles datorita coruptiei.Daca s-ar da niste legi draconice prin care coruptia sa fie echivalenta cu crima atunci altfel ar sta lucrurile.De ce nu se face un referendum pe tema asta?De ce nu s-a facut referendum cand s-a vandut Petromul?
Daca e democratie de ce legile nu se aplica unitar pt.aceeasi fapta,politician,judecator,milionar,omul de rand?....Se stie ca clasa politica este vanduta strainilor,dar vedem ca romania a ajuns oficial o vaca de muls,americanii vin ne iau rosia montana,europenii ne-au luat petrolul rusii vin sa ne iar si ei cate ceva si uite asa vin strainii sa ne ia si pielea de pe noi. Cum romanii dorm strainii isi fac interesele pe ascuns,dovada sta asa zis imprumuturile de le m UE,FMI,BANCA MONDIALA,BCE bani care ori cum nu ajung niciodata la fraierul de roman de rand,dar ii se baga sula in coaste sa plateasca taxe si preturi ca in occident ca nu-i asa suntem ca in familie in m UE cum zicea barroso,dar cand vine vorba de nivelul de trai si interesul romanilor este criza de 23 de ani. Votati slugile strainilor nu al romanilor,votati ca de hoti nu mai va saturati?

Anonymous said...

Skepticism in Greece over bond swap deal
Over in Greece our correspondent Helena Smith says the debt buy-back has got as mixed reception this morning. She writes:

Among economists, analysts and even government officials there is widespread skepticism about the scheme. Speaking on the state-run TV channel NET this morning, finance experts described the buy back operation as “very problematic” with many calling it the most difficult part of the latest EU-IMF backed attempt to rescue Greece.

“A big part of the bonds that have been issued are in the hands of hedge funds,” said prominent economics professor Charalambos Gotsis adding that the investors had acquired them earlier in the summer at very good rates. “With Greece no longer facing the scenario of a Grexit, it is debatable whether they will want to part with them,” added Gotsis who reckoned that hedge funds had acquired around €20bn worth of the government bonds.

Greek banks, which hold an estimated €15bn of the new bonds, have also opposed the scheme claiming it will put them in the onerous position of having to forfeit potential profits.

Their stance prompted prime minister Antonis Samaras to insist over the weekend that banks would actually benefit from the deal as the value of the bonds they held was far lower. Samaras, who is acutely aware that Greece’s next €44bn loan trance is dependent on the buy back (with officials saying it will pare back the country’s debt load by at least €30bn), also quashed speculation that Greek pension funds would be part of the transaction. “The banks’ reaction undoubtedly played a role in the offer being better than expected,” said one insider referring to government prices being more generous than anticipated [as explained at 8.38am]

But, interestingly, Greek finance ministry officials this morning did not rule out the scheme being extended beyond the official close of the deal at 5 PM Friday, adds Helena.

“If it doesn't go well then logically it [the scheme] will be extended,” said one finance ministry official. “But let’s not jump the gun and talk about failure before it has even got off the ground.”


Mircea Halaciuga,Esq.
Secretar General SIPG
www.SIPG.ro
0040724581078

Anonymous said...

Aftermath of Romania parliamentary elections: Main opposition alliance dismantled. Social Liberal Union claims 66% win. Not enough places in Parliament for elected MPs​

de V.O. HotNews.ro

19:53 English | Top News

The main alliance of Romanian opposition parties, the Right Romania Alliance (ARD), was dismantled a day after parliamentary elections in which it suffered an overwhelming defeat against the governing Social Liberal Union (USL). While partial results show USL with about 60% of the total number of votes, USL says its own parallel counting shows it won with about 66% of MP seats. Meanwhile, The elections were harsh for the ARD leaders who have yet to learn if they'll get a seat in the Parliament - which will have more MPs than available room on the parliamentary floor.

Anonymous said...

In an interview kicking off yet another election campaign for the 76-year-old tycoon, Mr Berlusconi said: "Monti followed policies that were too German-centric. All the economic statistics have worsened."

"What do we care about the spread?" he asked, referring to the differential between Italian and benchmark German bonds – a closely-watched measure of investor unease.

"The spread is a trick and an invention with which they tried to bring down the majority that ruled the country," he said, referring to his government which collapsed in November 2011 when he resigned amid a wave of panic on the financial markets.

The spread, which had narrowed to under 300 basis points last week, has risen sharply since Mr Berlusconi's People of Freedom (PDL) party announced it was withdrawing its support for Monti's government.

The spread widened to 349 points on Tuesday.

Anonymous said...

Monti has been a complete disaster. He was a picked man from the EU and IMF. Now he tries to imply that the reason behind his failure is that Italian political culture is not mature enough for the people to accept being shafted by his policies. The arrogance of men like him has no bounds, but that is why they fail.