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EU Politics - Hamsterwheel

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EU Politics - Hamsterwheel

Old 11th Jul 2013, 15:02
  #3381 (permalink)  
 
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Why are we talking about exploding? Is that even the right metaphor?? Perhaps it is better described in terms of biology rather than physics.

So consider the Eurozone as deeply unhealthy, cancerous even. The sickest parts are receiving medical attention, but this is simply arresting the progress of the illness rather than curing it. If the diseased parts don't simply fall off, they will need to be surgically removed otherwise the infection may spread to the healthy organs and kill the entire body.
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Old 11th Jul 2013, 15:25
  #3382 (permalink)  
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Why are we talking about exploding? Is that even the right metaphor??
Everything is in this very thread. That's why I like the internet threads, we can always go back in time and clearly see who is talking [email protected], what is not really obvious in real time communication with no record to check.
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Old 11th Jul 2013, 19:24
  #3383 (permalink)  
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Personally I think we should start a tontine here on PPRuNe - the last one alive inherits the EU !
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Old 12th Jul 2013, 11:04
  #3384 (permalink)  
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Grauniad:

Grillo: Italy may need early elections

Beppe Grillo, the radical leader of Italy's Five Star movement which won strong support in spring's general election, has turned the political crisis dial up a notch.

After meeting with president Georgio Napolitano today, Grillo declared that italy was heading for a catastrophe. He said he'd recommended that another election is called unless Enrico Letta's government gets to grips with the economic downturn quickly. Grillo told a press conference that:
I thanked Napolitano for his...concern and I expressed my concern for the state of the economic, social and political life of the country. I told the president that he has taken a...huge responsibility, and I asked him to go to the polls if necessary. (quotes translated by the ANSA news agency)
Grillo was speaking as Enrico Letta's government was buffetted by the walkout called by Silvio Berlusconi's PDL group, in protest at his final appeal being brought forward.

The Five Star leader took the opportunity to tell reporters that the government should cut spending on military projects, and spends more on benefits for pensioners. He also said Italy, whose GDP is expected to fall by 1.8% this year, was in the equivalent of a 'war economy' and needed urgent measures.

Last edited by ORAC; 12th Jul 2013 at 11:05.
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Old 13th Jul 2013, 00:57
  #3385 (permalink)  
 
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Fitch strips France of AAA rating - Telegraph

Constitutional crisis pushes Portugal closer to the brink - Telegraph

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Huh!!
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Old 16th Jul 2013, 22:42
  #3386 (permalink)  
 
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France's decision to block registrations of most new Mercedes models within its borders could be justified under existing EU rules, the Commission said.

The latest models of Mercedes cars cannot be sold in France as they still use an air conditioning refrigerant the EU says emits excessive greenhouse gases and should be replaced, the German auto company said last week.
Nothing, of course, to do with French protectionism of its own automobile industry and being bad losers.
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Old 17th Jul 2013, 12:31
  #3387 (permalink)  
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So for those lucky enough not to have Spanish television, here is the news from Spain

a) There are regular news clips on all TV channels showing original documents which state that the current Prime Minister, while a Civil Servant, received millions of pesetas as *contributions* from well-known Spanish firms. These payments were illegal under Spanish law.

b) There are etc etc documents showing that these payments were never declared for tax purposes by the current Prime Minister (hardly surprising given that they were illegal).

c) There are etc etc copies of texts sent very recently by the Prime Minister to the person who channeled the funds, wishing him well and sending him *hugs*. This person is, ahem, in prison for having squestered millions of euros in a Swiss bank *slush fund*

d) The Prime Minister is denying that any or all of the above ever happened and adding that since he was elected, he is going to stay in power and "rule" Spain, i.e. imposing austerity on everyone unlucky enough not to have friends with millions of euros in Swiss bank accounts.
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Old 24th Jul 2013, 11:31
  #3388 (permalink)  
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Seeing some light

Spain's central bank says the recession-battered economy could start growing again in the third quarter.


Governor Luis Maria Linde told Parliament on Thursday that data so far this year indicated that the worst of the latest recession appeared to be over and that "by the end of the year, or even in the third quarter, there could be growth."


Spain has been in recession for most of the past four years following the collapse of its credit-fueled real estate sector in 2008. The government has predicted the economy will contract by 1.3 percent overall in 2013.


Despite 27.2 percent unemployment and a still bloated deficit, the government has been unusually upbeat in recent days saying its reforms and austerity measures are paying off and recovery is in sight


(Reuters) - Spain's economy will grow in the second half of the year but the government must implement reforms and cut the deficit - at the right pace - to keep the recovery going, Economy Minister Luis De Guindos said in an interview published on Sunday.

"The recession is over. The issue now is how strong the recovery is going to be," de Guindos said in the interview in El Pais.
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Old 24th Jul 2013, 11:48
  #3389 (permalink)  
 
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Good news if it is correct, especially since France and Greece have reported similar indications. The big problem I see is that if this is true and these indications are proved, then there will be immense pressure from a large section of voters and media to drop austerity and even revert to expansion. The kind of growth rates mentioned still mean increasing unemployment: we are a long way from "stability" in unemployment figures ( if the economists are correct with their 2% rule)
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Old 24th Jul 2013, 11:55
  #3390 (permalink)  
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Yes Alpine, the austery has been severe, hopefully it will pay off.
I think I have seen somewhere this year Greece has one of the lowest deficit in EU, what an amazing and mad effort. If I can find the article again I will post it.
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Old 24th Jul 2013, 12:12
  #3391 (permalink)  
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Well, we'll have the answer to the growth question soon enough?

Here is the deficit point I was mentioning earlier:

Current-account deficits which had ballooned in the first decade of the euro have narrowed. Portugal’s deficit has shrunk from 12.6% of GDP in 2008 to 1.5% in 2012; over the same period Greece’s has fallen from 15% to 3%. Primary budget balances (ie, excluding interest payments)—a crucial measure in determining the sustainability of public finances—are also on the mend. Greece’s is expected to reach zero in 2013 – an extraordinary swing from its deficit of 10.5% of GDP in 2009. Indeed the highest primary deficit in the EU this year will be run by Britain (of 3.9% of GDP).
Did I mention since the beginning in this thread the Eurozone debt is under control, unlike what the uninformed newspapers tell you?
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Old 24th Jul 2013, 12:13
  #3392 (permalink)  
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Coincidentally I've been advising clients this morning who are moving from France to Spain, selling their property in the former and buying in the latter..

1) They showed me comparisons of tax they would have to pay in the UK, France, and Spain on investments. Comment they made: "who on earth would invest in France given these tax laws and regulations ?"

2) They consider (whether true or not I can't say) that we are at the bottom of the dip here in north Catalunia and are joining the rush to buy here which is currently pushing property prices up.
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Old 24th Jul 2013, 12:25
  #3393 (permalink)  
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I completely agree concerning Catalunia: not buying an appatment in Barcelona right now is a huge mistake one will regret very soon.

Concerning France I did buy a house and I didn't find it specially difficult and different from anywhere else.
You probabely know something the world doesn't, as France is one of very first top countries in the world for international investment, check it up. It seems the world doesn't think like you.
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Old 24th Jul 2013, 16:11
  #3394 (permalink)  
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 Flash Eurozone PMI Composite Output Index(1) at 50.4 (48.7 in June).18-month high.

 Flash Eurozone Services PMI Activity Index(2) at 49.6 (48.3 in June). 18-month high.

 Flash Eurozone Manufacturing PMI(3) at 50.1 (48.8 in June). 24-month high.

 Flash Eurozone Manufacturing PMI Output Index(4) at 52.3 (49.8 in June). 25-month high.
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Old 24th Jul 2013, 16:19
  #3395 (permalink)  
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Commenting on the flash PMI data, Chris
Williamson, Chief Economist at Markit said:

“The best PMI reading for one-and-a-half years
provides encouraging evidence to suggest that the
euro area could – at long last – pull out of its
recession in the third quarter.

“The revival is being led by a broad-based upturn in
manufacturing, where growth surged to a two-year
high. Increased goods production was reported in
Germany, France and across the rest of the region
as a whole.

“The survey data will therefore provide a summer
fillip to policymakers, especially in terms of there
being light at the end of the tunnel for austerity-hit
periphery countries where political and social
tensions have risen. The ECB in particular will be
feeling much more confident in its expectation of
the region returning to growth by the end of the
year.”
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Old 24th Jul 2013, 16:56
  #3396 (permalink)  
 
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France is one of very first top countries in the world for international investment, check it up. It seems the world doesn't think like you.
From: Foreign direct investment statistics - Statistics Explained

EU inward flows declined in 2010 by 22 % but recovered partially in 2011, up 13 %. 'Other capital' contributed the most to the positive change, together with reinvested earnings.
The income return from both EU outward and inward investment in 2011 was slightly down from the previous year

and country figures...

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Old 24th Jul 2013, 16:59
  #3397 (permalink)  
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Yep, it seems you just proved OFSO wrong.
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Old 24th Jul 2013, 17:05
  #3398 (permalink)  
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CIA worldfactbook:

1 United States 3,597,000,000,000 2010 est.
2 France 1,837,000,000,000 2010 est.
3 United Kingdom 1,705,000,000,000 2010 est.
4 Germany 1,484,000,000,000 2010 est.
5 Netherlands 950,800,000,000 2010 est.


List of countries by FDI abroad - Wikipedia, the free encyclopedia
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Old 24th Jul 2013, 17:24
  #3399 (permalink)  
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And after the list of the foreign direct investment abroad in my post above, here is below the foreign direct investment received, France still among the very top (but why the world do invest in France? ):

CIA world factbook:

1 United States 2,581,000,000,000 2010 est.
2 France 1,207,000,000,000 2010 est.
3 United Kingdom 1,169,000,000,000 2010 est.
4 Germany 1,057,000,000,000 2010 est.
5 Hong Kong 962,200,000,000 2010 est.


List of countries by received FDI - Wikipedia, the free encyclopedia


Stuck: when you are not an expert in the field like me, go on wiki, the link and informations you are giving us are for professionals I believe, it seems you are talking about the FDI inward in your text, and then copy past a picture below with the FDI outwards flow, which it definitely not the same thing, check it.
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Old 24th Jul 2013, 17:27
  #3400 (permalink)  
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My dear KAG

All the statistics you pull out of thin air and wave at us from your Enlightened Residence in the Summer Palace don't change the perceptions and experience of the people who actually have to live, work and pay their tax in France.

OFSO
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