Down: Economic indicators and the rating agencies’ influence
Between short-term economic indicators which describe only what occurred
in the week, others which are manipulated by governments to reflect the message
they want to give, and finally others which no longer have any relevance in
today’s world, economic reality is at the very least very badly portrayed, even
disguised, by these figures followed however by businesses, banks, and even
countries. As an example, only currency exchange rate variations make it no
longer possible to say if its Brazil or the United Kingdom which is the sixth
largest world power. This statistical fog prevents dependable navigation which
is paramount in these times of crisis. It’s one of the reasons which has led the
LEAP/E2020 team to propose its own Dollar Index adapted to current world
developments...
Inflation Is Coming: Bank of England
Inflation in the U.K. will remain above target for the next two years,
Bank of England Governor Mervyn King warned on Wednesday, but tightening
monetary policy was not the solution as it could push the economy deeper into
recession...
Venezuela devalues currency against US dollar
Venezuela is devaluing its currency by 32 percent against the dollar on
the orders of President Hugo Chavez, in part to reduce the country's budget
deficit...
Tata Steel Q3 net loss widens, misses estimates
Tata, which operates nearly two-thirds of its 28-million-tonne capacity in
Europe, reported a worse-than-expected net loss of 7.6 billion rupees for the
three months to December 31. Net sales fell 3 percent to 318.21 billion
rupees...
North Korean nuclear test draws anger, including from China
North Korea conducted its third nuclear test on Tuesday in defiance of
U.N. resolutions, drawing condemnation from around the world, including from its
only major ally, China, which summoned the North Korean ambassador to protest...
Comment l'Irlande a liquidé son fardeau bancaire en une nuit
Vers 17 heures, mercredi, les agences Reuters et Bloomberg commencent à
évoquer une possible liquidation de la banque. Michael Noonan, le ministre
irlandais des Finances, prend alors peur. Si cette nouvelle se répand, les
déposants à l'IRBC vont vider leurs comptes et les détenteurs des obligations
émises par l'IRBC vont chercher à solder leurs positions...
Pentagon urges delay in "devastating" $46 billion budget cuts
The Pentagon's civilian and military leaders warned in dire terms on
Tuesday that $46 billion in budget cuts due to go into effect in two weeks would
erode the nation's ability to go to war and appealed to Congress to delay the
reductions...
Global Currency War Could Get Nastier: Brazil
The global "currency war" could get even worse if Europe joins the fray,
says the man widely credited with coining the term. Brazilian Finance Minister
Guido Mantega told Reuters European countries should focus on reviving their
economies with more investments, rather than trying to weaken the euro to
protects jobs as France has suggested ahead of next week's meeting of G20
economic powers...
China overtakes US to become largest trading country in world
China is now the largest trading country in the world in terms of imports
and exports, after overtaking the US in 2012. The Asian country overtook the US
to become the world's biggest trading nation, bringing an end to the US'
post-war dominance of global commerce...
Gas Bonanza for Germany?: Berlin Wants to Fast-Track Fracking
Germany's governing coalition wants to quickly put an end to a virtual
moratorium on the controversial shale gas extraction method of fracking in the
country, SPIEGEL has learned. 
Officials want to have plans finished before the
federal election this autumn...
Officials want to have plans finished before the
federal election this autumn... 
The US Debt dashboard [Key Indicators of the Global Systemic Economic
Crisis]
Main aggregates - GDP and debt - Debt holders - Deficits and defense
spending - Monetary policy...
L'Oréal : pas de problème avec l'Euro fort, estime Jean-Paul Agon !
L'Oréal ne s'inquiète pas plus que cela de la hausse de l'Euro, mais son
patron juge qu'elle est un problème pour la France... Jean-Paul Agon, le PDG de
L'Oréal, interviewé dans 'Le Figaro' du jour, estime ainsi que "pour le groupe,
ce n'est pas vraiment un problème, car une majorité de nos produits sont
fabriqués localement". Il concède cependant qu'un Euro élevé est "un handicap"
pour les produits de luxe, qui sont fabriqués en Europe...
Boursier
No one really understands what’s going on in our economy
Equally hard to understand is why the UK’s export performance continues to
look so lamentable. The eurozone crisis provides only part of the explanation,
since even Spain and Greece have done better on exports than Britain, and that’s
without the “benefit” of a sharp devaluation in the currency...
Investors dive into euro-yen policy gap
Currency investors are profiting from an emerging policy divide between
Europe and Japan that some believe has the makings of a fresh round of global
currency wars. Buying the euro and selling the yen has become one of the most
popular trades in the foreign exchange market, with currency traders including
hedge funds more bullish on the euro than at any time since July 2011...
Afrique du Sud : vers une augmentation des taxes du secteur
minier
Tout ce que l'Afrique compte comme dirigeants du secteur minier, comme
investisseurs potentiels, était réuni la semaine dernière au Cap, en Afrique du
Sud, pour le congrès Mining Indaba. Une semaine de réunions au cours desquelles
on aura beaucoup parlé de taxations. En Afrique du Sud, en particulier, le
gouvernement veut imposer une taxe sur les profits exceptionnels...
Fed Has Bought More U.S. Gov’t Debt This Year Than Treasury Has
Issued
On Dec. 31, the total debt of the U.S. government was $16.4327 trillion
and then-Treasury Secretary Tim Geithner announced that the government had hit
what was then the legal debt limit. Last week, however, Congress enacted a law
to suspend the federal government debt limit until May 18, 2013, and allow the
administration to resume increasing the debt...
------------------------
This special Press Review reviews articles from the French and
Engligh-speaking international online media relating to the unfolding global
crisis.
It is delivered freely on a weekly basis to 60,000 recipients worldwide.
Subscription / Contact: centre@europe2020.org
It is delivered freely on a weekly basis to 60,000 recipients worldwide.
Subscription / Contact: centre@europe2020.org
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