In Greece, the govt is starting to make public the conditions under which homes could be foreclosed. Kathimerini:
Foreclosures will not be allowed if: The taxable value of the property is under 200,000 euros; gross household income (not including social security contributions, income tax and solidarity tax) is no more than 35,000 euros; and the owner’s total assets are under 270,000 euros.
The criteria will be relaxed a little for families with three or more children.The ministry also proposes that those with a household income of less than 15,000 euros per year should pay a monthly mortgage payment of 10 percent of their net monthly income.Those earning between 15,000 and 35,000 euros per year should pay monthly mortgage payments that amount to 10 percent of their first 15,000 euros of income and 20 percent of anything they earn above that.The unemployed will be allowed to forgo monthly payments until they have an income.
Pasok is accepting those criteria. Some ND MPs are still reluctant. If those are indeed the criteria implemented, it seems protective. As often in Greece, salaried people will be more easily hit than professionals since their income is available.
6 comments:
This is the small news that stayed under the radar this week, but we have to get back to it : The bank with the most exposure to derivatives is not JP Morgan, as we thought, but Deutschebank. As indicated in its 2012 annual report, the bank is exposed to, hang on to your seat : 55,605,039,000,000 euros or, if you prefer, 55,605 Billion euros, or 55.6 Trillion euros... wow!
By way of comparison, Germany’s GDP in 2012 was 2,644 Billion euros, which means that the country’s first bank’s exposure to derivatives is twenty times higher than all the wealth created by the European economic powerhouse in a year. Converted into dollars, the exposure amounts to $72.8 Trillion, a little more than JP Morgan. Europe holds the record, due to the most solid country’s best bank... congratulations!
I understand this just exposure....but it is real money being played in a casino manner....there is huge risk. Say 10% trades failed.....5.5TRILLION euros worth. How would any EU country or institution cope with this fallout? I don't trust Banks or their employees....they are not that smart.Why do governments?
This is one proviso they need to address....and this agreement will need a treaty change, no?
Defence contractor BAE Systems has been hit by a double-blow from the Gulf over its Typhoon fighter jet programme, damaging its export ambitions and forcing the company to warn on profits.
In a major reversal, announced after the market closed, BAE said the United Arab Emirates had ended protracted negotiations over a potential order worth up to £6bn for around 60 of the supersonic aircraft – despite the personal intervention of Prime Minister David Cameron.
The defence group also disclosed that, for the third year running, it had failed to agree the price for 72 Typhoons for Saudi Arabia, reducing this year’s forecast earnings per share by “6p-7p” – equivalent to about £250m off operating profits, according to analysts. They had been expecting 43p of earnings.
BAE shares, which had closed up 7.9 at 442p before Thursday's announcement, are expected to come under pressure on Friday.
UAE’s decision to balk at buying Typhoons is a major setback for BAE, which was hoping to make the Gulf principality its fourth export market for the jet after Saudi Arabia, Oman and Austria.
Defence contractor BAE Systems has been hit by a double-blow from the Gulf over its Typhoon fighter jet programme, damaging its export ambitions and forcing the company to warn on profits.
In a major reversal, announced after the market closed, BAE said the United Arab Emirates had ended protracted negotiations over a potential order worth up to £6bn for around 60 of the supersonic aircraft – despite the personal intervention of Prime Minister David Cameron.
The defence group also disclosed that, for the third year running, it had failed to agree the price for 72 Typhoons for Saudi Arabia, reducing this year’s forecast earnings per share by “6p-7p” – equivalent to about £250m off operating profits, according to analysts. They had been expecting 43p of earnings.
BAE shares, which had closed up 7.9 at 442p before Thursday's announcement, are expected to come under pressure on Friday.
UAE’s decision to balk at buying Typhoons is a major setback for BAE, which was hoping to make the Gulf principality its fourth export market for the jet after Saudi Arabia, Oman and Austria.
Defence contractor BAE Systems has been hit by a double-blow from the Gulf over its Typhoon fighter jet programme, damaging its export ambitions and forcing the company to warn on profits.
In a major reversal, announced after the market closed, BAE said the United Arab Emirates had ended protracted negotiations over a potential order worth up to £6bn for around 60 of the supersonic aircraft – despite the personal intervention of Prime Minister David Cameron.
The defence group also disclosed that, for the third year running, it had failed to agree the price for 72 Typhoons for Saudi Arabia, reducing this year’s forecast earnings per share by “6p-7p” – equivalent to about £250m off operating profits, according to analysts. They had been expecting 43p of earnings.
BAE shares, which had closed up 7.9 at 442p before Thursday's announcement, are expected to come under pressure on Friday.
UAE’s decision to balk at buying Typhoons is a major setback for BAE, which was hoping to make the Gulf principality its fourth export market for the jet after Saudi Arabia, Oman and Austria.
What a load of cobblers! Rafale is a decent swing-role strike aircraft, as an air superiority fighter Typhoon would wipe the floor (sky?) with it. Rafale carries Matra magic II and MICA air to air weapons - at best two generations behind ASRAAM and AMRAAM. With its current air-to-air fit, Rafale wouldn't stand a chance against any Gen 3 air-superiority fighter carrying any AMRAAM or Russian AA-12 (R77) - let alone Typhoon with its current fit of block C AMRAAM and ASRAAM.
Typhoon was designed as a no-compromise air superiority fighter/interceptor - In today's budget constrained world with an eye very much on budget and consolidation of capabilities, this is a disadvantage as Typhoon's air to ground capabilities are late and still lacking. Rafale is a great all-rounder but it is NOT in the same league as Typhoon at Typhoon's primary role.
I'd say this can pretty much be put down to the Saudis taking the hump because we declined to provide a jihadi air force for Syria.
As such, it's bad news for some defence industry workers, but long term it would be an immense boost for this country if we could extract our political class's noses from Gulf Arab behinds and stop getting drawn into giving them military guarantees in return for military sales. The problem is, our politicians have gotten so used to their position wrt Gulf Arabs that they are likely to beg to be let back in, instead of celebrating getting some fresh air and daylight at last.
Watch out for some serious kowtowing at the British nation's expense over the next few weeks.
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