Earlier this month, the European Commission also raised 5 billion euros for Ireland through its first bond issuance under the European Financial Stabilization Mechanism (EFSM), which is guaranteed by the EU's budget. Markets snapped up the bond within one hour.
Thursday, January 27, 2011
Wednesday, January 26, 2011
Romania To Pay VAT Refunds Worth RON1.36B In January
Of the total refunds, ANAF has already paid Monday RON557 million, and will pay the rest of the sum by the end of the month. Some RON1.21 billion of the total refunds represents compensations.
Tuesday, January 25, 2011
So far, the authorities have only paid interest on the nearly 20 billion-euro record-high loan sealed with the IMF, the European Commission and the World Bank nearly two years ago.
The first principal payment will be made on August 6th 2012 and will amount to 546 million special drawing rights (SDR), i.e. over 600 million euros at the current SDR value.
"The repayment of the loan is done in instalments. There is no major pressure involved. Under no circumstances is the Government unable to repay the loan unless it sells holdings in state-held companies. The sale is a solution that can be considered. The Government's intention to sell stakes on the stock exchange has been previously announced. It is not unexpected. But I don't think the Government is forced to do this amid pressure to repay the loan," said analyst Aurelian Dochia.
On another note, as part of the new precautionary arrangement with the IMF, the state-run companies will be much better monitored, considering the high level of arrears, and the Fund believes the resources derived from privatising viable companies could provide cheaper financing of the budget deficit, sources close to the negotiations say.
On the other hand, while the arrangement with the IMF will continue in some form or another, the continuation of the agreement with foreign banks on maintaining exposure to Romania is not ironclad, and may be dropped, as parent banks maintain exposure voluntarily, sources close to the talks say. (Z.F.)
Sunday, January 23, 2011
euro, criza datoriilor de stat, euroscepticismul, monede nationale, renuntarea la euro, salvare euro, zona euro
Tuesday, January 18, 2011
The euro's rise against the dollar picked up some steam on stop-loss buying, helping push the single European currency 0.1 percent higher on the day to $1.3305, up from an intraday low of $1.3254. But doubts that euro zone policymakers would reach a quick decision on whether to enhance a rescue fund aimed at quelling a sovereign debt crisis, which has forced Greece and Ireland to take bailouts and put nations such as Portugal and Spain under heavy pressure, remained the euro's Achilles' heel.
Saturday, January 15, 2011
AAPL AIG BAC Bear Stearns, Ben Bernanke, BSC C China, copper, DELL, DIS, DJIA, Dollar, DOW, FDIC, FED, FNM, FXI, GM, gold, GOOG, GRSGS, inflation ,IPO, NOC oil, silverSIRI, YHOO, Yuan
Friday, January 14, 2011
Thursday, January 13, 2011
"I also wish to thank EU Council President Hermann van Rompuy for his courage and energy in heading the task force which led to the necessary strengthening of the budgetary control mechanisms in the European Union", said Daul.
Wednesday, January 12, 2011
The ECB should do what the Fed is doing
SPIEGEL: Americans and Germans differ widely in their views on how to make the economy pick up again. The US is trying to boost the economy with tax cuts and by having the Fed buy government bonds, while Germany wants to stringently cut expenditures.
Roubini: The cost-cutting measures, the ECB's tight monetary policy, the current high value of the euro -- that's all fine for Germany and the heart of the EU. But what's good for Germany is by no measure good for the countries on the periphery of the EU. The economic output of Greece, Ireland and Spain is shrinking, and there is hardly any growth in Portugal and Italy. To get these countries back on track for recovery the ECB should do what the Fed is doing and increase the money in circulation to stimulate growth.
Tuesday, January 11, 2011
Having an opinion is fine.
Just as likely, the market will often go up a lot over a long period. So for the real investors who are investing real money in the real world, take note that you should build your investment strategy around your life and your goals and not the annual guesses of gurus
Monday, January 10, 2011
BCR has favored euro-denominated secured loans in the past as well, considering that in the First Home scheme, where the bank had the biggest cap allocated, BCR only had euro-denominated loans in its offer. As far as RON-denominated unsecured personal loans are concerned, the bank offers a fixed interest rate ranging between 17.2% and 20.2% a year depending on the maturity and on the customer's credit history with the bank. The bank's offer of secured personal loans continues to include both RON and euro-denominated loans. AAPL ,AIG, BAC, Bear Stearn,s Ben Bernanke, BSC, China, copper, DELL’ DIS’ DJIA,Dollar,DOW, FDIC, FED, FNM FX,I GM, gold, GOOG, GRS, GS, IBM, inflation, IPO, JPM, KR, MA, MSFT, NOC oi, PM, PTR, SHLD, silver, SIR,I SMG, SNE, TTM ,Warren Buffett, XOM, YHOO, Yuan
Saturday, January 1, 2011
But it comes at a time when the euro is growing increasingly unpopular among members of the currency club.
For many of Estonia's 1.3 million residents, joining the eurozone club is preferable to uncertainty linked to its outgoing currency, the kroon, and is seen as a good way to attract further investment.
Estonia also hopes the move will help its economic prospects improve after recent years of recession and austerity measures. Estonia's Central Bank is forecasting growth of nearly 4 percent next year.
Like its Baltic neighbors Latvia and Lithuania, Estonia is used to having little currency flexibility. The kroon has been fixed, first to the German mark and then to the euro, since its launch in 1992, when Estonia became the first ex-Soviet state to quit the ruble zone.euro, criza datoriilor de stat, euroscepticismul, monede nationale, renuntarea la euro, salvare euro, zona euro
Wednesday, December 29, 2010
Tuesday, December 28, 2010
Zalanpatak is a remote village reputedly founded by the British Prince’s ancestors in the 16th Century. The guesthouse in Viscri will have three rooms and Zalanpatak five rooms. Kalnocky Guesthouses are run by the Count Tibor Kalnocky, who has renovated his property, following its restitution from the state.
The EC President said that because Romania has one of the highest borrowing costs in the EU, without economic reform, the conditions for attracting investors, building trust and thus creating growth and jobs “will not be met”.
In October a combination of the opposition National Liberal Party (PNL) and Social Democratic Party (PSD) launched a vote of no confidence against the Government for its perceived financial mishandling of the Romanian budget, accusing the leadership of dictatorial tactics and nepotism.
The opposition claimed it had the right to launch the motion because opinion polls revealed public discontent with the leading Democratic Liberal Party (PDL) – the main party of Government.
The measure failed to pass Parliament but the PNL-PSD hinted it may launch further impeachments.
The EU has pumped in five billion Euro assistance package to Romania to limit the budget deficit and preserve macroeconomic security.
Barroso also “commended” the Romanian people and its authorities for their efforts during the global financial crisis.BCE, Citigroup, Comisia Europeana, FMI, Federal Reserve, Germania, Grecia, Irlanda, Marea Britanie, PIB, Rusia, SUA, Spania, Standard and Poor's, Ungaria, Uniunea Europeana, economie, obligatiuni, zona euro
Sunday, December 26, 2010
The Wall Street Journal has reported it will be one of the largest bank sales of distressed loans since the financial crisis hit in 2008.
The portfolio, to be sold to Apollo Management LP, consists of loans for apartment buildings in Germany and hotels in a number of European countries.
The bank may share in any gains realised by Apollo as it is taking an equity stake in the company.
euro, criza datoriilor de stat, euroscepticismul, monede nationale, renuntarea la euro, salvare euro, zona euro
Monday, December 20, 2010
Saturday, December 18, 2010
In November, the value of assets rose by 30m euros."I had expected the 1bn - euro mark to be reached by yearend. However, the situation is on edge after November data reporting. Should December be a typical month, I do not believe we will hit this threshold, but we may have an atypical month because there are companies granting the 13th salary or various bonuses and thus the value of collected contributions is likely to be higher," believes Radu C. an investment manager with Eureko Pensii. In late November, mandatory funds had 5.1 million participants, 5% more than at the end of 2009.(ZF)BCE, Citigroup, Comisia Europeana, FMI, Federal Reserve, Germania, Grecia, Irlanda, Marea Britanie, PIB, Rusia, SUA, Spania, Standard and Poor's, Ungaria, Uniunea Europeana, economie, obligatiuni, zona euro
Thursday, December 16, 2010
In short - 2010
As Europe tightened its fiscal belt, America passed more stimulus measures. Barack Obama also signed into law the most sweeping changes to America’s financial-regulatory system since the 1930s and a health-care reform act that was hailed by many as America’s most significant piece of social legislation since the 1960s. Conservatives challenged the act in the courts.
Unease about deficits and the “jobless recovery” were factors behind the increasing clout of tea-partiers in America. With their support the Republicans scored a sensational win in a special election for Ted Kennedy’s former Senate seat in Massachusetts. November’s mid-term elections saw the Democrats swept from power in the House by the biggest swing to the Republicans in decades. Congress ended the year on its lowest-ever Gallup approval rating—13%.
In China the main worry was of an overheating economy. The central bank unexpectedly raised interest rates for the first time in three years amid concerns about inflation. Official trade statistics showed China had overtaken Germany as the world’s biggest exporter. Tensions over currency policy were at the forefront during summits of the G20 and IMF.BNR, Banca Mondiala, Emil Boc, FMI, Guvern, INS,Ministerul Economiei, PIB, Prima Pagina, Romania,agenda de business, bugetul de stat, economie, revista presei, salarii, salariu minim