
Showing posts with label salvare euro. Show all posts
Showing posts with label salvare euro. Show all posts
Friday, June 17, 2016

Wednesday, June 15, 2016

The leave campaign has said it does not want to be in the single market, because it would not want the UK to have free movement. But its leading advocates, including Boris Johnson and Gove, dismiss the idea that Germany or other EU countries would impose trade tariffs given they sell the UK more in manufactured goods than they buy.
Wednesday, May 25, 2016
Three-month interbank offered rates in Riyadh have suddenly begun to spiral upwards, reaching the highest since the Lehman crisis in 2008. Reports that the Saudi government is to pay contractors with tradable IOUs show how acute the situation is becoming. The debt-crippled bin Laden group is laying off 50,000 construction workers as austerity bites in earnest. Societe Generale’s currency team has advised clients to short the Saudi riyal, betting that the country will be forced to ditch its long-standing dollar peg, a move that could set off a cut-throat battle for global share in the oil markets. Francisco Blanch, from Bank of America, said a rupture of the peg is this year’s number one “black swan event” and would cause oil prices to collapse to $25 a barrel. Saudi Arabia’s foreign reserves are still falling by $10bn (£6.9bn) a month, despite a switch to bond sales and syndicated loans to help plug the huge budget deficit. Can Saudi Arabia weather the current storm? The country’s remaining reserves of $582bn are in theory ample – if they are really liquid – but that is not the immediate issue. The problem for the Saudi central bank (SAMA) is that reserve depletion automatically tightens monetary policy. Bank deposits are contracting. So is the M2 money supply. Domestic bond sales do not help because they crowd out Saudi Arabia’s wafer-thin capital markets and squeeze liquidity. Riyadh now plans a global bond issue. While crude prices have rallied 80pc to almost $50 a barrel since mid-February, this has not yet been enough to ease Saudi Arabia’s financial crunch. The rebound in crude is increasingly fragile in any case as tough talk from the US Federal Reserve sends the dollar soaring, and Canada prepares to restore 1.2m barrels a day (b/d) of lost output. “We feel that markets have moved too high, too far, too soon. We still face a large inventory overhang and supply outages are reversible,” said BNP Paribas. Total chief Patrick Pouyanne told the French senate last week that prices could deflate as fast as they rose. “The market won’t come back into balance until the end of the year,” he said. Mr Pouyanne said the collapse in annual oil and gas investment to $400bn – from $700bn in 2014 – would lead to a global shortage of 5m barrels by 2020 and another wild spike in prices, but first the glut has to be cleared. The oil rally is now at a make-or-break juncture. A growing number of oil traders warn that speculative purchases of “paper barrels” by hedge funds have decoupled from fundamentals. There is usually a seasonal slide in demand over the late summer.
Saturday, May 14, 2016
Over the last few weeks, several German politicians have criticized the ultralax monetary policy adopted by the ECB, which cut the policy rate to zero in March. The officials in Berlin are saying that this measure affects those Germans who save money. (A.V.) Mario Draghi said that the ECB is ready "to use all the available instruments" to stimulate the rise of prices in the Eurozone, but expressed his confidence in the effects of the measures passed by the bank so far. "Our policies work, they are efficient", said Draghi, and he added: "It just takes time for those measures to produce their effects in full". The president of the ECB also stressed that aggressive measures, the kind of "money thrown from helicopters", has not even been brought up in this week's meeting of the council of governors. Yesterday, the ECB decided not to change the interest rate, after it cut it to a historic low in its March meeting, in an attempt to boost inflation. The ECB kept the policy rate at zero, while the interest on the marginal lending facility was kept at 0.25%, and the interest rate on deposits was kept at - -0.40%.
Thursday, May 12, 2016

- Peter Naessens from the Belgian Gaming Commission;
- Elisabetta Poso from the Administration of State Monopolies, Italy;
- Carlos Hernandez Rivera, Director General of Gaming, Spain;
- Fernando Prats, Madrid Regional Government, Spain.
Eduardo Antoja, President of EUROMAT and Chairman of the panel discussion with regulators said: "Regulation makes or breaks our industry so having so many top gaming officials from European markets together for one session is a real added value of this year's summit. Operators and manufacturers from across the industry should be there if they want to get a valuable insight into the thinking of the people making decisions that have a direct impact on the industry". Other panel sessions at this year's summit include:
-What does convergence mean for the land-based gaming industry in Europe?
- Player tracking: Does it help to improve responsibility?
- Are manufacturers or operators driving the gaming machine market in Europe?
Delegate numbers are set to soar with industry leaders and regulators sharing their thinking on how the European market is evolving.
Friday, May 6, 2016

Thursday, May 5, 2016

The European Commission is expected to propose on Wednesday that an emergency scheme to distribute 160,000 people around the bloc following the massive influx last summer be put on a permanent footing, with a quota system of allocations that kick in if there is another vast wave of migrants that overwhelms a country. The new plan comes despite the temporary scheme having proved a flop. It was approved against the wishes of Poland, Slovakia, Romania and Hungary in September, and so far, 1,441 people have been moved. “Einstein defined insanity as doing the same thing over and over again and expecting different results,” remarked one diplomat.
Thursday, April 28, 2016

The primary surplus is the budget surplus before the state has to repay interests on its debt.
The Greek government, which said legislating in advance was unconstitutional, has proposed to commit to take measures in the future if fiscal data approved by Eurostat show that the target will be missed. A more political argument is that the quartet's request for a contingency package goes beyond what was agreed by eurozone leaders last July and then written down in the bailout memorandum of understanding signed in August. That is why Tsipras, who always said he would do "nothing more and nothing less" than what was agreed last summer, is trying to push the discussion back to the highest political level. A eurozone summit is however unlikely, as EU leaders have been willing to let their finance ministers deal with the Greek crisis. The leaders took over the talks last year only when a Greek exit from the eurozone became a real danger.
Tuesday, April 26, 2016
The biggest Italian banks, insurers and asset managers in the country, have
accepted, on Monday night, to create a five billion Euros fund meant to help
troubed banks, to allay investor fears over the stability of the local banking
sector. The fund, called "Atlas", will benefit from major capital
injections from "UniCredit" and "Intesa Sanpaolo", the top two largest banks.
According to sources quoted by Reuters, "UniCredit" and "Intesa Sanpaolo" will
each contribute one billion Euros to that fund. The sources are also saying that
state owned bank CDP will contribute 500 million Euros, smaller banks will
allocate between 500 and 700 million Euros, banking foundations will contribute
approximately 520 million Euros, and insurers - another 500 - 700 million Euros.
In exchange for the financing offered by private banks, the Italian
government has accepted to revise its bankruptcy legislation, in order to
facilitate the sale of non-performing loans. Italian PM Matteo Renzi
said: "In the coming days we will make the bankruptcy procedure simpler and
quicker, so that all the parties involved recoup their money within a reasonable
delay". Currently, in Italy it takes about eight years on average to
recoup non-performing loans, compared to approximately two years in the EU. The
Italian banking system is facing non-performing loans of approximately 360
billion Euros, one third of the total volume in the Eurozone. The
"Atlas" fund will allow supporting "Banca Popolare di Vicenza" and "Veneto
Banca", financial institutions that have to raise almost 3 billion Euros in the
coming weeks, to consolidate their capital. The fund may invest two billion
Euros in the future stock issues of "Banca Popolare di Vicenza" and "Veneto
Banca", and may even acquire one of these banks. The European
Commission has informed that it is keeping in touch with the government in Rome
on the creation of the fund intended to support banks.
Thursday, March 31, 2016
It will take months to reopen Brussels airport fully, its CEO has warned, as staff return to the site a week after it was targeted by Islamist bombers. Arnaud Feist said the building will have to be rebuilt "from the air conditioning to the check-in desks". The airport said later it would remain closed on Wednesday, dashing hopes it would resume partial services. Thirty-two people were killed and 96 more are still in hospital after bombs targeted the airport and a metro train. EU institutions reopened on Tuesday, amid beefed-up security measures. Increased searches on bags and vehicles are being introduced at the European Parliament while many events organised by non-EU bodies have been suspended. Some 800 airport workers were asked to return to work on Monday to test provisional arrangements involving a temporary check-in area. Enhanced security measures are being introduced in the temporary building and further screening of baggage will take place before passengers reach the departure lounge.
Wednesday, March 23, 2016

Tuesday, March 22, 2016

Tuesday, March 15, 2016

Wednesday, March 9, 2016

Thursday, March 3, 2016

Tuesday, March 1, 2016
The European Parliament backs the monetary policy
carried out by the European Central Bank to guarantee price stability but warns
that its effect won't last without structural reforms, budgetary discipline and
productive investments in the Member States. Moreover, the risks of the ECB's
unconventional measures need to be monitored carefully, the European Parliament
cautions in its Annual Report on the European Central Bank. Tom Vandenkendelaere MEP, Shadow Rapporteur and
Member of the European Parliament's Economic and Monetary Affairs Committee,
calls for a multi-tiered approach to stimulate growth and job creation: "We
support the ECB's efforts to increase inflation to under but close to 2%, and
its policy to increase the supply of money is slowly yielding results. However,
we should not be blind to the risks of this approach and carefully monitor for
negative side effects. In addition, Member States should deliver on their part
and carry through the necessary reforms and productive investments to boost
economic growth and employment."
Tom Vandenkendelaere is appreciative of the ECB's
efforts to increase transparency and maintain close ties with the European
Parliament: "Thanks to the ECB's efforts on greater transparency, most central
banks are now in the habit of explaining important monetary decisions to the
wider public."
Sunday, February 28, 2016

He expressed some frustration with governments that have held back spending at a time of economic weakness. He urged governments that are in better shape financially to spend more on public investment that would increase grow and to avoid excessive taxation.
Monetary policy from the central bank "is the only truly stimulative policy over the past four years," he said. ECB officials have warned governments not to rely just on central bank stimulus to boost the modest eurozone recovery.
Saturday, February 27, 2016

Thursday, February 25, 2016

Tuesday, February 23, 2016

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