Our correspondents in Athens and Madrid

The eurozone is trying to stem the risk of bank runs at its periphery. In Greece, where the run on windows is the most serious – aggravated by the deterioration of the bank notes by the rating agencies – the Bank of Greece has corrected the figures released by the European press. It would not be a flight of deposits of 800 million euros a day, as suggested this week by the President of the Hellenic Republic itself, but of 100 million euros a day from May 6 Neither more nor less than in 2011.

"That does not mean that the Greeks are not worried: remove 35 billion euros a year, it's huge!" Says Panagiotis Tampoureas of Development for the bank ATE. "To believe the press, the authorities are studying a proposed freeze on bank withdrawals to 1,000 euros per month per person. But the set up would announce the bankruptcy of the banking system and people will fight to save their economies. A real disaster, "says he.

Despite the impressive figures of flow, there would in fact banks € 165 billion. "This means that only 30% were withdrawn for two years," says Takis Tampoureas. All hope for a political calm after the elections on June 17.

Spain also seeks to ease concerns about the soundness of its banks. Following the collapse Thursday of the share price of Bankia, the fourth largest bank in the country has recovered its Friday stock market losses. Its main competitors have also found the green.

Degradation of Moody's

Analysts explain the steep descent of Bankia by publishing a rumor that clients have withdrawn their deposits over one billion euros in one week guaranteed pay day loans. Twice denied by the bank and the government seems to have borne fruit. And the announcement on Thursday night, a degradation of 16 Spanish banks rated by Moody's, had no impact on the square in Madrid.

The banking sector problems remain yet whole. The Bank of Spain said Thursday a record rate of bad loans: 8.47% in March, or 147 billion euros. The big unknown for the needs of bank recapitalization. Madrid has promised an audit on this subject. The name of the two companies responsible for inspecting credit institutions will be unveiled Monday, the press table on Black Rock and Goldman Sachs.

After the Council of Ministers, the government number two, Soraya Saenz de Santamaria, said that the first resistance test will be done "quickly, in less than a month" before subjecting banks to examination more detailed.

Asked about the possibility of using EU funds to finance the Spanish banks, Santamaría dismissed the question. "There is no reason to doubt the ability of the Spanish government to help its banks without using the bailout fund," said a spokesman for the German Ministry of Finance.

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For motorcycle insurance, the insured must provide the same documents as part of a classic car insurance (car registration, driver's license, identification, disclosure statement).

If a motorcycle insurance can be underwritten by general insurance companies, insurance companies are specialized, especially online. If you want to compare the different motorcycle insurance quote, contact a broker to find the best motorcycle insurance.

Note: once the insurance contract, an insurance sticker is given to the insured. It must appear on a surface visible on the front of the plane formed by the front fork of the bike.

The guarantees offered by insurance motorcycle

The motorcycle insurance must at least be a third party insurance. While it is possible to ensure his bike all risks.

As with auto insurance policies, insurance companies also offer optional additional coverage to cover additional risks (theft, fire, injury of the driver, …)

Namely: the bikes are particularly susceptible to theft. It is therefore highly recommended to purchase a warranty for the flight in his insurance policy motorcycle.

The cost of motorcycle insurance

The insurance premium is calculated according to several criteria:

-Make and model of motorcycle,

-The power of the bike

-Profile of the insured (age, geographic location, history, 100% free credit score…)

Thus, an unbridled motorcycle, whose power has been increased or have undergone changes compromising its approval, is no longer covered by the various guarantees of the insurance policy motorcycle.

The principle of no-claims bonus is also applied, under the same rules as apply to car insurance.

The additional guarantees and options

Motorcycle insurance contracts offer specific guarantees which may cover the helmet, the top-boxes, GPS …Not only against the risk of theft, but also against damage due to accident.

In addition, some contracts offer terms based on the use of the bike. They reflect the fact that some owners do not use their bike during the winter months. To them, therefore they offer a rate allowing for a period of immobilization of the bike that can range from 2 to 6 months per year.

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Chambers of commerce and industry want to work with the new president and new government on major economic issues: SMEs, industry, international business development, training and learning. "We are a driving force. We are not in the claim, "said Jacques Pfister, Senior Vice President of the Assembly of French Chambers of Commerce and Industry (ACFCI) and President of the Chamber of Commerce and Industry of Marseille Provence in presenting the 22 proposals of the network of chambers of commerce and industry.

Sign of this willingness to change and to affirm their desire to play leading roles in major economic debates, chambers of commerce and industry adopt a new logo, "CCI de France." "There are not many networks of entrepreneurs also involved in the economy of the territories and as close to the territories. We are a private Datar, "says Jacques Pfister, referring to the Directorate of Planning.

Chambers of commerce are active in many areas. "They are machines to do economic development, to train young people to manage infrastructure," says Pierre-Antoine Gailly, second vice-president of the ACFCI and President of the Chamber of Commerce and Industry of Paris. They train apprentices. They welcome students into their business schools. They manage airports or ports. They support SMEs internationally. They help entrepreneurs. They look after employment. "The Chamber of Commerce Marseille Provence 1000 supports RSA beneficiaries per year for four years," said Jacques Pfister.

Simplification of yarrow territorial

Anxious to participate in the economic recovery, the Chambers of Commerce argue that France gets a real industrial ambition. They want to make 2013 the year of the industry. They offer a one-stop financing industrial area to help entrepreneurs to find funding.

The launch of a contingency plan to enable SMEs to enter new markets is asked to stop the decline in the number of exporting companies that are not more numerous in 2011 than in 1995. Large groups will be forced to work with "a share of SMEs and SMIs in the French part of their contracts together abroad."

Noting that France is over-managed and that the powers of territorial and state overlap, chambers of commerce and industry urge a simplification of territorial yarrow, strengthening the role of cities and best use of ports or airports. "It is possible to create a% of GDP higher if we reflect on the cities and provide 1% of GDP higher by focusing on the ports of Marseille and Le Havre," said Jacques Pfister.

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In his defense, the government ensures that the global event will benefit the local economy. 1500 enterprises had shared a jackpot of € 9 billion of contracts. But experts estimate that less than 1% of GDP growth of the net gain generated by the Olympics for several years.

The major amounts invested for the event.

• Transport: € 7.8 billion

For seven years, considerable effort has been devoted to the modernization of the London transport network, to host 3 million visitors in addition to the 12 million daily riders. New stations were built around Stratford, the Olympic site in east London. A special express train, the Javelin, will link the park to the station King's Cross St. Pancras. But the risk of flooding remains a nightmare for the organizers and authorities in London.

+ Organization: € 2.4 billion

The organization of the fifteen-day competition is funded by private funds from revenue from TV rights, sponsorships, merchandising and ticketing (485 million euros). Some sponsors are involved in providing benefits in kind (eg telecom).

+ Olympic Stadium: 1.2 billion euros

The enclosure of 80,000 seats is the centerpiece of a series of new equipment final, including a swimming pool, a handball court, a velodrome that will find and use a permanent occupants after the Olympics. Each was built by an architect and a different promoter. Other facilities such as the basketball stadium, will be dismantled at the end of competitions.

+ Olympic Village: 675 million

The site of the London 2012 Olympic Village was sold for 634 million euros in a joint venture with Qatari Diar personal business card. The village, which adjoins the Olympic Stadium, includes 2,800 new homes. And the contract includes the creation of 2,000 additional.

Security +: € 670 million

This is one of the positions responsible for soaring overall costs. The organizing committee found itself under fire for underestimating security needs. A first estimate "wet finger" of 10,000 agents has been revised upwards to 23,700, doubling the budget to fund these private security guards. A contract with G4S company specializing in 104 million was renegotiated to 344 million. Not to mention the tens of thousands of forces of public order.

+ Ceremonies: 98 million

Entrusted to Danny Boyle, director of Trainspotting and Slumdog Millionaire movie, the opening ceremony of July 27 should show the "best of Britain". Thousands of extras are being recruited. To succeed in this show of force after that which remained in the memories of Beijing, Prime Minister David Cameron has agreed to double the budget for opening and closing.

= Public budget: 13 billion euros

The note of the Olympics for taxpayers English has continued to fly from the original figure of 3 billion when London won the competition in 2005. The organizing committee is now working on a budget of 11 billion, but a parliamentary report estimated that the bill may reach 13 billion instead. 29 billion and even if we take into account indirect costs for utilities, including the police and military presence.

When the total wealth of a taxpayer exceeds € 1,300,000, the latter is liable for the solidarity tax on wealth. The basis for calculation of this tax is calculated at roughly the same rules as that of inheritance. But for the life insurance, the comparison stops there.

Indeed, while these contracts are not (or partially) subject to inheritance tax, they are considered in terms of the ISF as any medium of financial savings. Thus, all life insurance contracts should be included in the taxable wealth. The value to be reported is that of the contract on January 1 of the tax year.

Namely: if the taxpayer held assets greater than € 3,000,000, must complete a detailed statement. The contract must be included in Appendix 3-1 of the Declaration of ISF, under "other property".

Reduce taxes on capital

Contracts of life insurance called "non-redeemable," that is to say those agreed in lost funds, are exempt from wealth tax. From this, some insurance companies have built contracts supposed escape partly or wholly, to the imposition. The most common contracts "to loyalty bonuses" and "contracts in euros diversified."

The contract to loyalty bonuses isolates for 8 to 10 years of financial support specifically, the interest generated by capital. These interests are blocked, and are not redeemable for the specified time. They are therefore exempt from wealth tax until they are reintegrated at maturity of the blocking period. But capital has remained on the taxable throughout this period. The contract is therefore only partially exempt from wealth tax and for a limited time paydayloans.

The life insurance contracts in euros has diversified in turn sought a more radical approach. In these contracts, the funds are frozen for 8 to 10 years, making them in principle non-redeemable. But the tax has not kept insurers in this field, and confirmed that these contracts remain taxable to tax on capital for their full value (instruction 7-S 4-10).

The acceptance of the beneficiary

Always to get these contracts from the base of the ISF, some experts have suggested to use the recipient's acceptance. Therefore the beneficiary of a life insurance contract has the option of accepting the earnings before or after the death of the insured.

If he does in his lifetime, the insured is blocked: it can no longer perform the redemption of his contract without the consent of the beneficiary. It seemed therefore possible to exempt these contracts because they were not freely redeemable. But again, the tax authority has raised an objection of inadmissibility (Ministerial response Dollez No. 18648). These contracts are taxable to the ISF.

The taxation of annuity

But in reality, the annuity is taxable to the ISF for its value called "capitalization." This value corresponds to that of capital which is gradually consumed to provide the annuity. It appears every year on the statement sent to the annuitant by the insurance company. It must declare the same as a life insurance contract.

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Nicolas Sarkozy wants to extend to "large local governments" the principle of non-replacement of retiring in two applied to the public. According to him, modulate state grants would be "very healthy" to encourage savings.

"We will extend" the policy of non-replacement of staff on two "large to local authorities, who have quite the ability to make the same effort as the state," said the president-candidate in an interview broadcast Tuesday on the magazine's website Actors public.

"This is a very important issue: since 2007, local authorities have created 100,000 jobs, while the state removed 160,000", he said no teletrek payday advance.

Nicolas Sarkozy, however, did not specify which communities that would be affected. Communities that employ the most staff are the major cities, regions and departments.

"The larger communities, which represent two thirds of local expenditures, must make the same effort that the state and they have the opportunity to reorganize, to be more efficient in their ways," Nicolas Sarkozy has insisted.

Times are tough for Philips. Former world number one on many markets consumer electronics, the Dutch group continues to see its market share decline. Including the segment of headphones, one of the most promising areas of the moment. In two years, sales of helmets rose 30% in France. Philips has lost eight points of market share. In 2012, 10 million headsets, for a total of 330 million euros, should be sold in the Hexagon, according to GfK.

The reverse is even more difficult to accept for the group Philips has negotiated very well the transition from stereo to the Dock. The Netherlands has 18% market share in France and his throne at the top spot in Europe. A turn much less negotiated in helmets. "New entrants have redefined the market. They even reinvented, "says Olivier Ginet, CEO of Philips Lifestyle France. For Philips, the challenge is daunting. The brand is certainly recognized in the field of audio, but not by the young crowd, follower of headphones. The trend marks are called Beats by Dr. Dre (acquired by HTC), Wesc, Sennheiser … And they have driven prices up. This is another feature of this market in one year, prices rose on average by 18% in 2011.

Target young

To adapt to this new deal, Philips has decided to launch a new brand, Fidelio, dedicated to high-end, with selling prices between 199 and 280 euros fast payday loan. In the heart of range, the group leverages its alliance with the sports brand O'Neill to rejuvenate its image. Partnerships with leading figures in music or sports are also considered. Philips, however, recognized the sound quality offered by its products, decreased the size of its logo on his headphones.

"We will work to rejuvenate the brand by focusing our efforts on communication," says Olivier Ginet. A point that its competitors have mastered perfectly. Dr. Dre and is the favorite brand of football players. Philips has tried to reciprocate by equipping players XV of France during the last Rugby World Cup. But that did not have the same impact.

The Dutch must now prevail in the headphones, or risk seeing its brand is devalued, particularly in the smartphone docking stations.

Now Philips has developed the "Appssesories", that is to say, accessories for smart phones with a dedicated application. It may as well be a video camera associated with an application to monitor his house (or children) at a distance, or a scale to monitor his weight curve. Just like that already offers the French Withings. Pending applications for headphones.

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Winter has succeeded in the spring. And there will be a long and rigorous. A year after their revolutions, the Southern Mediterranean countries are struggling to revive their economies and attract investors. "Basically, the region is divided between one side Morocco, whose economy increasingly resembles that of an emerging country, or Algeria, which is maintained by its raw energy, and across the country whose economy raises concerns and questions, "says Dov Zerah, CEO of the French Development Agency (AFD).

In Tunisia, Egypt or Jordan, the economic situation is worse than in 2011, threatening the stability of governments in place and risk being cast new popular upheavals. "We must grow by at least 5% to stabilize unemployment in the area and in all likelihood we will be well below 2012," said Amal Chevreau, project manager within IPEMED. "Even in Morocco, the expected initial increase of 6% of GDP have been revised downwards, mainly because of drought."

The panorama offered by Tunisia and Egypt is that of weak growth leading to a fall in tax revenues and widening budget deficits at a time when governments, yet fragile, can not cut public spending so as not to stifle their populations. After falling 1.8% in 2011, the Tunisian economy in 2012 still deals in the red. The current account deficit widened to 7.4% of GDP and the budget deficit well over 4% this year.  

"Holding back investors'

In Egypt, the situation is equally alarming: according to Alexis-Marchay Karklins, head of emerging from Ernst and Young, Egyptian growth to be between 1% and 1.5% this year, leading the deficit budget around 10% of GDP. Worse, foreign exchange reserves of the Central Bank of Egypt fell by more than half within a year from 36 billion in 2010 to 15,000,000,000 in late 2011. Bleeding that led the rating agency Fitch to downgrade the rating of Egypt to "BB-". Cairo is conducting difficult negotiations with the IMF for a loan of about $ 3.2 billion. Also to avoid having recourse to such an extreme, Tunis, meanwhile, quietly knocks on the door of international lenders to obtain loans.

But the real concern is the fall in investment. Uncertainties regarding the political situation of these countries has combined the brutal fiscal crisis through which Europe, which has significantly dried up the flow of capital available. According to figures compiled by Anima Investment Network, which need to be refined in the coming weeks, the number of investment projects fell by nearly 25% in 2011 in the 11 Southern Mediterranean countries. A heterogeneous block masking disparities since in alongside Algeria, Israel and Lebanon, which fell slightly in 2011 after a sharp rise in year 2010, there was a fall of 32% of investments in Tunisia and more than half in Egypt. In 2011, Libya has received only 17 external projects and Syria 14, mainly concentrated on the first part of 2011 before the country from tipping into civil war. In total, the area received about $ 28 billion of investments, amounts equivalent to those of 2009 – year of the international financial crisis.

The partnership of Deauville was not required

"The reluctance of investors is not the most worrying, says Emmanuel Noutary, déléguégénéral Anima Network. The problem is the types of projects which are mainly invested in recent years, and mainly relates to major infrastructure or energy to create less jobs than other sectors. "Typical example, the Gulf countries, realized an average investment of 500 million euros (40 million against an average for investors from other countries), while "the most urgent investments to create jobs related to smaller local projects around the food, education or industry. "

The anxiety is palpable as the next major donors. Symbol of the malaise surrounding the partnership of Deauville in May 2010 had promised to unlock $ 38 billion investment over 10 international financial institutions over the next three years. Less than half of these commitments have been met. Thus, the European Investment Bank (EIB), through its armed wing in the area, the FEMIP should provide 2.6 billion euros. It has not yet released a billion, of which 734 million euros to Morocco (a record for that country) but only 303 million euros to Tunisia.

"The view remains fragile in the short term, however, investors would be wrong to abandon the area," says Alexis Karklins-Marchay at Ernst and Young: "North Africa is the ideal gateway for Europeans in a continent will experience tremendous growth in the coming years. "Enthusiasm for the moment few donors really dare to share.

]]> http://parasiteevecentral.com/arab-countries-are-struggling-to-revive-their-economies/feed/ 0 http://parasiteevecentral.com/right-to-dismiss-monti-is-facing-unions/ http://parasiteevecentral.com/right-to-dismiss-monti-is-facing-unions/#comments Tue, 20 Mar 2012 10:12:06 +0000 admin http://parasiteevecentral.com/right-to-dismiss-monti-is-facing-unions/  

Italy is close to a historic agreement to reform the labor law, but negotiations stumble in the home straight on the amendment of Article 18 governing the right of dismissal.

Council President Mario Monti today convenes unions and employers for a new round he would have liked, if not definitive, at least open to a deal by Friday. Elsa Fornero, Minister of Labour and the law expert of the work she has long taught at the University of Turin before joining the government in November in "technical" professore, tirelessly led consultations with social partners since early January.

So far, no union, not even the most powerful and most recalcitrant of all, the CGIL, has left the negotiating table, which is itself a success. Yet this same CGIL, which began last Saturday through an agreement approved by the employers and political parties including the Democratic Party.

The support of Silvio Berlusconi

The boss of the union, Susanna Camusso, requires that a worker dismissed for reasons deemed "unfair" to be reinstated in firms with fewer than fifteen employees, as is the case in large companies. A term is deemed economically unsustainable by SMEs, which represent 95% of the industrial Italian.

For its part, the government proposes to leave the decision in court and to establish a compensation of up to 24 months' salary in case of redundancies. Ten years ago, March 23, 2002, at the call of the CGIL, three million workers were demonstrating in Rome against the relaxation of the right to dismiss. Silvio Berlusconi, who was then forced to backtrack, now endorses Mario Monti in his attempt to reform.

Jungle contracts

According to La Repubblica, the CGIL can not easily accept a reform so difficult, after being imposed in December, a pension reform which it disapproved. Workers Confederation criticized moreover the government not unlock 1.2 billion euros in state subsidies to reform the Labour Code who claims 5 billion.

Surprised by the reversal of the CGIL, the moderate unions have undertaken to consult with the Democratic Party to mediate. They should submit a proposal to cons-Mario Monti Tuesday. For its part, the employers threatened not to sign the reform, should it be watered down.

Elsa Fornero is determined to move forward. "We will not discuss endlessly," she said. The Government believes that reform "crucial" for renewed growth. The size in the jungle of contracts and collective agreements, reducing it from 40 to 8.

In addition, to stop the proliferation of temporary contracts that place young people in precarious situations, it provides a three-year apprenticeship during which companies will be entitled to terminate, after which they will be forced to hire permanently. Lack of social agreement, Elsa Fornero announced that the government will submit its draft to Parliament.

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