VIDEO French patatoes and a grim scenario for the eurozone after S&P hurricane
Posted by vlad on Jan 14, 2012 | Leave a Comment
Standard and Poors has wreaked havoc in the eurozone, especially downgrading France and Austria from their AAA and Slovakia, Spain, Italy, Cyprus, Malta, Slovenia and Portugal. The consequences of this decision will bring huge detrimental to the countries concerned and thus the euro area, then to the entire European Union.
It all started amid the sterile discussions on Greece’s debt. The Greek government has not...
Ups… Standard and Poors downgrades France and Austria!
Posted by vlad on Jan 14, 2012 | Leave a Comment
UPDATE S & P downgraded France and Austria (from AAA to AA +), Slovakia (from A to A +), Spain (from A to AA-), and Italy was downgraded to BBB +.
22:00 Standard and Poors was going to announce which countries will have its rating downgraded. France and Austria, most likely, will lose their AAA rating. S & P officials declined to comment if it’s about 12 countries.
The French government said that this...
VIDEO Behind the Debt Lines: Italy could be downgraded, says Fitch
Posted by vlad on Jan 10, 2012 | Leave a Comment
Italy is in pole position to be downgraded by rating agency Fitch. Eurozone countries expect the end of January to see who will undergo changes in the countries rating.
Italy is the most vulnerable, because the governors have not yet implemented tough measures to prevent the spread of the crisis. Italy’s borrowing costs on financial markets have increased and the interest rates to jump over 7% reaching. Italy...
How Malev could get to scrap and Hungary have a new state airline
Posted by vlad on Jan 10, 2012 | Leave a Comment
Malev, the Hungarian airline state company, must find financial resources in four months to return the money received as state aid, aid found to be illegal by the European Commission. The Hungarian government will meet on January 16 to discuss proposals submitted by the Minister for National Development.
Besides the problems that Hungarians have with public transport in Budapest, the Hungarian government must solve the...
Budapest public transport, on the verge of banckruptcy!
Posted by vlad on Jan 10, 2012 | 1 Comment
Hungarians receive another bad news. The public transport in Budapest, Hungary’s capital, is on the brink of bankruptcy! Istvan Tarlos, the mayor of Budapest, is making huge efforts to keep the situation under control. BKV’s (Budapest Zrt Közlekedési) bankruptcy would cost Hungary 14 billion forints a day!
BKV Zrt, the company that has control over the public transport in Budapest, is indebted way over...
VIDEO Debt Hard: Greece says goodbye to the IMF rescue package
Posted by vlad on Jan 10, 2012 | 1 Comment
Angela Merkel and Nicolas Sarkozy have put pressure on Greece and Greek bondholders to reach quickly agreement on the haircut agreed in October 2011.
Since November, Greece began to negotiate with the private investors. Governors would like investors to give up more than 50% of the debt and Greek officials threatened earlier this year that if investors will not accept this and the IMF will not grant a new bailout,...
20 best paid politicians in the European Union
Posted by vlad on Jan 08, 2012 | Leave a Comment
Italy has the highest paid Prime Minister in the European Union. Although the country is strongly affected by the economic crisis, the italian politicians do not want to tighten their belts and start to feel the impact of their austerity measures. Below, the top 20 highest paid politicians of the European Union according to ISTAT.
01. Mario Monti, Italy’s MP – $175.000
02. Mark Rutte, Netherland’s...
VIDEO Five bad news from the Eurozone
Posted by vlad on Jan 07, 2012 | Leave a Comment
Week ends badly for the eurozone. The euro reached a new historic low, and news coming are increasingly waring. Here are the five bad news, of this week.
Unemployment in the euro area reached 16.4 million people, and, in the European Union, unemployment is up to 23.7 million people. That means 10% of the total population. Data was provided by Eurostat.
European Central Bank had to intervene again to buy Italian and...
Is Sarko crazy? “We want to tax the financial transactions!”
Posted by vlad on Jan 06, 2012 | 1 Comment
Nicolas Sarkozy said in a press conference tonight that, regardless of its European partners desire, he wants to introduce a tax on financial transactions.
“When you buy an apartment, you pay a tax in each country. When you buy food from the store, you pay a tax. When you do financial transactions you do not pay any tax! Who understands that? Who accepts it?”, he asked, rhetorically.
France wants to impose...
Big chance for Romania, Hungary is going down the drain
Posted by vlad on Jan 06, 2012 | Leave a Comment
BNR, the Romanian Central Bank, took a bold decision, lowering interest rates for the second time in the last two months, reaching now 5.75%. Romanian governors want to encourage lending and domestic consumption amid the eurozone manufacturing and export problems. Romania gives a shot to Hungary, trying to push the investors to turn their attention to Bucharest.
“The BNR Board reaffirms that the central bank will...
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