Showing posts with label Irlanda. Show all posts
Showing posts with label Irlanda. Show all posts

Monday, May 6, 2013

If the E.U. Elite have their way they will not allow the EU Project to die or fail, not at least until they have stolen what they see and believe is justly theirs and as far as I can ascertain they are about ten years into the final stages of the grand plan, the Elite being the people behind the showmen at the forefront.
Mrs. Merkel is just such another Maggie a strong woman politician placed in her position by election where as Barosso, van Rumpuy, Drahgi etc. were mere placements and through general agreement cannot be removed other than by death or resignation, a most unsatisfactory arrangement; sooner or later the whole edifice will collapse for my part the sooner the better....
The euro is still stronger than the US dollar.  Europe went socialist with a medium to small sized economies and the US is trying to go socialist with a much larger economy but give us time we will also self destruct like the southern Europe is.  I include France in that group also. 
Of course this fall will be followed by the rest of Europe. Fortunately USA has a slim chance to correct our socialism issues. Europe does not  as they are to far ingrained in their economies.
Catastrophic though it certainly is there may yet still be more mileage in the troublesome euro and EU project but the end is nigh....Well..."The economic situation is worsening from month to month, and unemployment has reached a level that puts democratic structures ever more in doubt," Oskar Lafontaine the founder of Euro said !

Sunday, February 3, 2013

"Citigroup said it now expects Spain's economy to contract by 2.2pc this year and another 2pc in 2014, pushing unemployment to 28pc.The effects of the slump will overpower any gains from fiscal austerity. The bank said public debt will surge from 88pc to 110pc of GDP in just two years." "Premier Mariano Rajoy has so far resisted a full rescue from the EU bail-out fund (ESM), fearing a political backlash and loss of sovereignty. Yet the ECB cannot purchase Spanish debt until Madrid pulls the trigger and signs a "memorandum"." "Julian Callow from Barclays said the ECB’s Mario Draghi is “itching” to buy Club Med bonds, seeing this as a way of targeting monetary stimulus on the countries in trouble - without an causing inflationary spillover in Germany - but he is paralyses until Madrid relents." Ah, when it all collapses the EU socializes private debt and gets to appoint another country's leader. Now I see what the strategy is. Meanwhile, Ireland has now a debt to GDP ratio of 120% and rising are now predictably making noises such as, forgive us our debt or else the best boy in the class is going native! Put "precautionary" loans in place as we will not be able to exit the bailout without a second bailout i.e. "precautionary loans" or if you prefer a "bailout extension" call it what you like, just make sure the money is there for us! The government are back in talks to extend their sweet heart deal Croke Park deal with the 23 public sector unions that represent government workers, so no surprises. They will be requiring additional funding to finance the Labor trade union government nexus. Labor are in coalition. As for Spain they will get their bailout from the ESM with a vicious MOU attached. They will underestimate (deliberately) how much they require, the further austerity will cause even greater unemployment and they will be on the road to Greece and the EU will be on the road to either break up or an admission that democracy has been overthrown and that you cannot rule a democratic EU. The whole project has been derailed because it was never possible to unite countries of such diverse cultures and work ethics. France wants to be socialist, therefore it needs Germany which is capitalist to pay up! Greece does not collect taxes so it wants them collected elsewhere and passed on to them otherwise they might have to pull out and it might be a systemic risk, Cyprus needs a bailout they too could be "systemic" and what about all that Russian money? Sure Russia might give a dig out? It is a tower of Babel ... I wonder whether most people in more stable Northern European countries realize just what exposure they are going to have to these bailouts via the ESM (for that is what the EU are now touting as the Spanish rescue vehicle)The ESM can make a capital call any time it likes on it's EZ members at 7 days notice and it's officers are immune from prosecution in any EU jurisdiction.. and it's records inviolable. So all those EZ member states that thought they were relatively safe are going to end up providing whatever funds a bunch of people with no accountability whatsoever demand of them. Budgetary independence and fiscal prudence gone in a flash and they never even noticed....Well, the next round of protests/riots ought to be interesting. Maybe Draghi, LaGarde, Merkel, Barroso, Van Rumpy and Rajoy could sit down with the hungry masses to explain how the worst is behind them.

Friday, October 7, 2011

London, 07 October 2011 -- Moody's Investors Service has today downgraded the senior debt and deposit ratings of 12 UK financial institutions and confirmed the ratings of 1 institution. This concludes its review of systemic support assumptions from the UK government for these institutions initiated on 24 May 2011. The downgrades have been caused by Moody's reassessment of the support environment in the UK which has resulted in the removal of systemic support for 7 smaller institutions and the reduction of systemic support by one to three notches for 5 larger, more systemically important financial institutions. According to Moody's, announcements made, as well as actions already taken by UK authorities have significantly reduced the predictability of support over the medium to long-term. Moody's believes that the government is likely to continue to provide some level of support to systemically important financial institutions, which continue to incorporate up to three notches of uplift. However, it is more likely now to allow smaller institutions to fail if they become financially troubled. The downgrades do not reflect a deterioration in the financial strength of the banking system or that of the government.The rating actions include a one-notch downgrade of Lloyds TSB Bank plc (to A1 from Aa3), Santander UK plc (to A1 from Aa3), Co-Operative Bank plc (to A3 from A2), a two-notch downgrade of RBS plc (to A2 from Aa3) and Nationwide Building Society (to A2 from Aa3); and downgrades of one to five notches of 7 smaller building societies. The ratings of Clydesdale Bank were confirmed at A2 (negative outlook).

As outlined in the May press release, we have reviewed the standalone ratings of all entities prior to concluding on the debt ratings. A separate announcement today covers the upgrade of the standalone rating of Co-Operative Bank to C- (mapping to Baa1 on the long-term debt scale) from D+ and earlier announcements cover the upgrades of the standalone ratings of Santander UK, Nationwide, Yorkshire, and Principality Building Societies. A detailed summary of the rating actions and the current levels of systemic support for UK financial institutions is available here http://www.moodys.com/viewresearchdoc.aspx?docid=PBC_136526.
Separate announcements will follow on entities included in the May 24th review, but not concluded in this action: this includes certain subsidiaries of RBS and Lloyds, as well as Bank of Ireland (UK).

Friday, May 13, 2011

With unemployment officially nudging 790,000 – although believed to be far bigger with the closure of some 150,000 small and medium-sized businesses over the past year – there are fears that Greece, the country at the centre of Europe's worst financial debacle in decades, is slipping inexorably into political and social crisis, too. Rising racist tensions and lawlessness on the streets this week spurred the soft-spoken mayor of Athens, Giorgos Kaminis, to describe the city as "beginning to resemble Beirut".With unemployment officially nudging 790,000 – although believed to be far bigger with the closure of some 150,000 small and medium-sized businesses over the past year – there are fears that Greece, the country at the centre of Europe's worst financial debacle in decades, is slipping inexorably into political and social crisis, too. Rising racist tensions and lawlessness on the streets this week spurred the soft-spoken mayor of Athens, Giorgos Kaminis, to describe the city as "beginning to resemble Beirut".

Wednesday, February 23, 2011

ATHENS—Greece was paralyzed by a nationwide general strike Wednesday as hundreds of thousands of workers, shopkeepers and civil servants walked off the job in a 24-hour protest over the government's austerity program. The strike affected public services, with government ministries, local government offices, courts and schools all closed, and hospitals and many state-owned enterprises running with reduced staff. Mass transit around the capital ground to a halt as bus, trolley, tram and subway operations were suspended, and Athens's electric rail operated on a reduced schedule. More than four dozen domestic flights were canceled ahead of a four-hour walkout by air traffic controllers, and ferry operations to Greece's islands were also suspended. "The austerity measures are beginning to affect all of society even more now. The economic situation is becoming very difficult for both Greek businesses and for workers," said Anthony Livanios, an independent political economist and commentator. "Even so, the government appears determined to continue with its policies." Recent public opinion polls showed seven out of ten Greeks expect the austerity program to continue even beyond 2013 when the current bailout deal with the EU and IMF ends. The ruling Socialists have seen their popularity drop sharply in the past year, although they still retain a 3.5 percentage-point lead over the center-right opposition.

Sunday, February 20, 2011

BERLIN - The succession of European Central Bank President Jean-Claude Trichet will not be a topic at this week's Group of 20 meeting and will be dealt with after March, German Finance Minister Wolfgang Schaeuble said on Friday. "We will then see (if there will be a German candidate). The important thing is that we will have a good candidate," Schaeuble added in an interview with German radio channel Deutschlandfunk.BCE,EURO,Dollar,RON,Crisis Agerpres, Mediafax
FRANKFURT - Emergency borrowing from the European Central Bank remained exceptionally elevated for a second straight day on Friday, intensifying speculation that one or more euro zone bank might be facing new funding problems. ECB figures showed banks borrowed more than 16 billion euros in high-cost emergency overnight funding, the highest amount since June 2009 and well above the 1.2 billion euros which banks were taking before the figure first jumped on Thursday. The ECB gives no breakdown of the borrowing figures and declined to comment on Friday when asked for an explanation for the jump. Traders remained unsure whether the spike was due to a serious funding issue or whether a bank had simply made an error earlier in the week by not borrowing enough at the ECB's regular weekly funding handout. If a bank, or number of banks, did not get enough funding, and were unable to make up the difference in open markets, they would be forced to use the ECB's emergency facility until the next ECB tender came around. The next ECB offering is on Tuesday, banks get the money on Wednesday, meaning any change would evident in figures published early on Thursday. "As no bank or banking group from any euro zone country is aggressively seeking money in the interbank market at the moment, it is likely that something went wrong at the main refinancing operation," said one euro zone money market trader. "The bank or banking group needs to tap the ECB for the money whether they like it or not, or they are doing that so as not to appear active on the money market and to thereby be stigmatized," he added

European bank shares were down 1 percent by 1100 GMT while the euro fell against the dollar and other major currencies for much of the morning. Money markets showed little reaction, however. Key euro bank-to-bank lending prices remained on a downward trajectory, a direction traditionally at odds with rising tensions. The theory that the spike was due to human error appeared to be supported by data from the ECB's latest weekly funding operation. Banks borrowed the lowest amount since June at the tender, 19 billion euros less than the previous week and well below expected demand of around 160 billion euros.


However, a monetary source in Italy, speaking on condition of anonymity, told Reuters that the increase in borrowing was not a technical problem and was a sign that money markets were still not functioning correctly and geographically split in the wake of the global financial crisis. The source said the Italian banking system continued to have good access to money markets, while high-level Spanish financial source said the jump was not down to Spanish banks. The borrowing jump added extra complexity to the question of whether the ECB will scale back, or extend, its money market support measures at its next meeting on March 3.


ECB President Jean-Claude Trichet said in a recent interview that the health of money markets had improved, although Belgium's Guy Quaden said this week liquidity support remained necessary. "If the increased use of the marginal borrowing facility is due to new problems in the banking system this would call for an extension of the ECB's liquidity support," said UniCredit analyst Luca Cazzulani. "The ECB knows exactly who is borrowing the money and why they are doing it. If it is due to a mistake then it should not influence their thinking at all." The extra 0.75 percent which banks have to pay for overnight funding from the ECB normally means it is used only as a last resort. The last time before this week that overnight borrowing exceeded 10 billion euros was on June 24, 2009, when it was 28.7 billion euros, the highest ever. This year, emergency overnight borrowing has been above 1 billion euros only twice. Traders said while mistyping the required amount or missing the ECB's tender altogether would be an unlikely mistake, it could happen. "It would be a huge oversight and pretty unlikely but it is possible if a lot of things conspired against you," said one London-based money market trader. "If it is a mistake then someone's boss is not going to be very happy." A number of banks, mainly from the euro zone's most debt-strained countries but also troubled banks in core countries, remain barred from open money markets and almost completely dependent on the ECB for funding.

Monday, February 7, 2011

Financial-Banking Analysis

For the new democracies and market economies of the Eastern European region, 2009 has been a rude awakening, the biggest shock since they switched from Soviet communism to western capitalism 20 years ago. "There is no doubt the region is in deep crisis," said the European Bank for Reconstruction and Development last week. "The worst output collapse since the great recession that followed the end of communism."

Most analysts expect the National Bank of Romania to come with a less optimistic forecast as far as this year's price increase is concerned, after last autumn it expected inflation to slow down to 3.4% in December 2011, i.e. close to the official target of 3%. According to an internal survey conducted by the Association of Financial-Banking Analysts, the average analyst forecast for the 2011 inflation is 4.3%, i.e. also above the upper inflation target limit.
The main risks now have to do with the international trend of making food and fuels more expensive, which has already been felt on the Romanian market. Last year consumer prices climbed nearly 8%, although the official inflation target was 3.5%. The shock of the VAT hike from 19% to 24% in the summer, as well as the food price increases that occurred in autumn overturned the downward trend of inflation.

Friday, January 28, 2011

Denmark's Vestas, the world's leader in the field of wind farm technology, with turnover worth above 6bn euros in 2009, decided to open an office in Romania this year considering the company has already sold turbines with a 450 MW capacity for investments in Dobrogea. After six years' research, Vestas now says it is time it started developing domestically.
"We have been eyeing Romania over the past five or six years, but it is now that we decided to open a local office. This is a decision that proves the domestic market has reached a certain maturity. We are in the right place at the right moment. Romania is the most promising country in Eastern Europe," says Hans Jorn Rieks, chairman for Central Europe with Vestas.
The best-known wind farms due to be equipped by Vestas are the ones being built by Energias de Portugal in two towns of Dobrogea, Pe[tera and Cernavod`.
According to Rieks, the big concern as regards the Romanian market is legislation. "The existence of clear legislation will open the market to several players as banks are always looking at something tangible and are not willing to take on risks," he says. (Z.F)

Thursday, January 27, 2011

BRUSSELS, Jan. 27 - The European Financial Stability Facility (EFSF), the rescue fund set up by Eurozone countries last May, Tuesday saw strong demand for its debut bond issued to raise cash for Ireland. Demand for the five-year bond was reportedly nearly nine times of the 5 billion euros (6.8 billion U.S. dollars) on offer, which is seen as a sign of confidence in the facility. Klaus Regling, chief executive of the EFSF, said that the strong demand "confirms confidence in the strategy adopted to restore financial stability in the euro area." The 440-billion-euro (580-billion-U.S. dollar) EFSF is not offered directly by eurozone countries, but guaranteed by them to borrow money by issuing bonds on the market for debt-laden eurozone members. According to the aid package endorsed by European Union (EU) finance ministers last November to Ireland, the EFSF, will raise 17.7 billion euros in total for Dublin.

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.

Tuesday, January 25, 2011

The outgoing head of the CBI today strongly criticised the government's lack of strategy for economic growth and warned that ministers would fail to reduce Britain's budget deficit without measures to boost demand. Sir Richard Lambert used his last big speech as director general of the employers' organisation to accuse the Conservative-Liberal Democrat coalition of taking policy initiatives for political reasons "apparently careless of the damage that they might do to business and to job creation". Speaking on the eve of the release of official growth figures expected to show a slowdown in the pace of economic expansion in the final three months of 2010, Lambert backed plans to cut the deficit but said they had to be accompanied by increased output and employment, which would increase tax receipts. "The sooner we can get output back up to the levels that were expected before the recession, the quicker government revenues will rise to narrow the fiscal gap. "It's not enough just to slam on the spending brakes. Measures that cut spending but killed demand would actually make matters worse." Lambert said the government had been single-minded, even ruthless, in the pursuit of spending cuts but had not been "nearly so consistent" when it came to policies that supported growth. "It's failed so far to articulate in big picture terms its vision of what the UK economy might become under its stewardship."

Sunday, January 23, 2011

Lloyds Banking Group has begun a mass mailshot of 231,000 letters offering possible refunds to Halifax customers who may have been mis-sold payment protection insurance on their credit cards, under a costly and large-scale outreach programme codenamed Project Kestrel. Internal documents obtained by the Observer reveal that 8,300 letters went out last Monday. Almost a quarter of a million will be dispatched by mid-February, asking credit card customers to contact a special call centre operated by outsourcing firm Capita. The exercise by Lloyds, which is 70% owned by the government and is the parent of Halifax, Bank of Scotland and Lloyds TSB, comes amid an ongoing furore over the mis-marketing of so-called PPI policies which protect cardholders against debts if they lose their jobs, fall ill or have accidents. Analysts believe Lloyds could face a bill of more than £1bn for compensation if it were found to have mis-sold PPI.

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Tuesday, January 18, 2011

The euro edged higher against the dollar on Tuesday as the arrest of a slide in Chinese shares boosted risk appetite, but its gains were limited by uncertainty over whether officials will agree to beef up a euro zone safety fund this week. The euro dipped initially but later pared its losses against the dollar as Chinese shares showed signs of stabilising after the previous day's 3 percent slide, lending some support to risky assets.
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

When investors begin to lose confidence in a country’s ability to pay off its debt, they demand higher interest rates on the country’s bonds to cover the risk of loaning it money. When its borrowing costs rise, an ailing country has an even harder time raising money to pay off the debts it has. Borrowing costs are up this year in European countries considered more vulnerable as investors look to put their money somewhere they think is safer. Growing into its role as a global economic power, China is pledging to buy billions of dollars' worth of bonds in European governments to help restore confidence in the debt-ridden region. The move is the latest evidence that the giant Asian nation is developing ties with strategically important trading partners and expanding its influence in areas where it has long played a minor role. In what European media have dubbed a charm offensive, Chinese Vice Premier Li Keqiang was all smiles on a recent swing through the continent, assuring the Germans that their economy was complementary to China's and praising the Spanish as good friends. He also dispensed plenty of largess, promising to aid the souring economies of Spain and Portugal — pledges that were seen as more than just goodwill.

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Friday, January 14, 2011

The European sovereign debt crisis eased today after Spain and Italy attracted sufficient buyers for their bond sales, albeit at an increased price. The relatively successful multibillion-euro auctions pushed the currency 1.8% higher against the dollar to $1.336, and sent European bourses rallying. The Ibex index of Spain's most traded shares rose 2.7%, with Santander up 4.8%. Spain sold €3bn of five-year bonds but was forced to pay 4.5% – nearly a full percentage point more than at an auction in November, but still less than the level some had anticipated. The sale was twice oversubscribed.Italy auctioned €6bn of five- and 15-year bonds. The two countries, which along with Portugal have been fighting investors' scepticism over their finances, benefited from the stronger support given by EU officials this week. The EU has been widely criticised for doing too little too late in the year-long debt crisis, escalating the market panic that ultimately tipped Greece and Ireland into a bailout.

Thursday, January 13, 2011

"Budgetary discipline can no longer be a theoretic figure in a political pact, but must be enforced in all budgets in the European Union. This is the only way forward, if we want to provide a long-term solution to the financial crisis", said Joseph Daul MEP, Chairman of the EPP Group, in a comment to the start of the "European Semester", a budgetary monitoring exercise decided by the EU. "Balanced national budgets are essential in order to guarantee economic and social stability and to provide better investment conditions for the creation of jobs and growth and allow Europe to increase competitiveness. European Economic Governance is therefore a prerequisite to maintaining the successful European model of social market economy", said the Chairman of the European Parliament's largest political group.

"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

Roubini: The condition of the over-indebted states on the periphery of the euro area is similar to that of the US federal states, from California to Illinois. But there are also clear differences: Even if California were to go bankrupt, nobody would think that the US monetary union would collapse because of this. The debt problems that Greece and Ireland are currently experiencing, could, in contrast, actually lead to a collapse of the euro area. What's more, the US can always finance its debt by printing more money. Greece and Ireland are dependent on the European Central Bank, the ECB, to relax its monetary policy against the will of Germany. There is simply more discordance than agreement in the euro area.

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.

The problem with gurus and their guesses is not that they’re always wrong. Part of what makes these forecasts so tempting is that the gurus are right just often enough for us to believe that there’s merit in listening. Unfortunately, it’s incredibly difficult to identify which forecast will be right. So what does a real person do with this information? I suggest you use it as kindling, as a starting point. I know it’s fun to chat with friends or colleagues about your opinion of the stock market. I also know it can feel like the duty of any self-respecting American to have an opinion about the market and the economy. Having an opinion is fine. But acting on it with real money is often incredibly damaging.You need to realize that no one can tell you with any sense of precision where the stock market (or any market) is going. If you’ve learned nothing else during the last 10 years, I hope you remember that the stock market won’t perform in a set way indefinitely. At some point the market will go down, and it may be for a long period of time.

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, the biggest bank in Romanian's market by assets, is no longer selling RON (local currency - lei)-denominated real estate loans and RON-denominated unsecured loans. The bank also dropped-off it's offer of fixed - 7.75% per year interest rate on real estate loans levied in the first five years, and the monthly 0.2% loan management fee. On the other hand, the interest rate margin on the Casa Mea program (My Home) loan has been boosted by 0.35%, to 5.25% a year above six-month Euribor.
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

The adoption of the euro single currency on January 1 is the culmination of tiny Baltic state Estonia's historic move away from the dominance of its powerful neighbor and former ruler, Russia.
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

Dec 29 (Reuters) - Hungarian oil and gas company MOL MOLB.BU has asked Croatia to check if buyers unlawfully acted together to inflate shares in its INA INA.ZA unit after MOL's offer to buy out small shareholders this month. MOL said on Wednesday it asked the Croatian competition authority to establish "whether a prohibited agreement in form of concerted action ... has been entered into in relation to purchases of INA shares on Zagreb Stock Exchange between December 14 and 20, 2010." MOL, which holds a 47.15 percent stake in INA, offered to buy out small shareholders to obtain a majority stake. It called trading in the INA shares suspicious after the stock jumped 64 percent once trading resumed on Dec. 14 after a compulsory suspension following its offer. The Croatian financial markets watchdog has said there was no manipulation or concerted action behind the moves. Four pension funds said they were buying large quantities of the stock because they believed in its future value.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