2014/09/20 Revue de Presse Euro-BRICS Press Reviews

Expert: Europe’s Security Framework Should Include Russia

The conflict in Ukraine showcases how Europe needs a security architecture that includes – rather than excludes – Russia, University of Rhode Island scholar Nicolai Petro told RIA Novosti.

RIA Novosti

China President Xi's Visit India-China - An evolving geoeconomic architecture

There is a gradual evolution in geoeconomics taking shape between India and China. It is the elevation from an 'over-the-wall' trade relationship to an integrated geoeconomic relationship defined by deeper business and financial links.

The Economic Times

Let’s join hands to end terror, crisis in Iraq: Modi to BRICS

Expressing concerns over the situation in West Asia, Prime Minister Narendra Modi on Tuesday called for BRICS countries explore ways to help end the crisis in Iraq. Modi also called for more concerted efforts in addressing the issue of terrorism, urging the world to put more pressure on countries that give “support and sanctuaries” to terrorists.

Hindustan Times

Europe 2020 – Community or empire?

After having spent almost a year watching Europe at the “Crossroads” we consider that this summer’s end marks its commitment to the wrong path, that which leads towards the “tragic scenario” described by Franck Biancheri in his visionary work “The World Crisis: The Path to the World Afterwards“ in which he put forward Europe’s considerable advantages in the face of the crisis and its potential to participate in the emergence of a “world afterwards” as desirable.

LEAP/E2020 - GEAB N°87

BRIC by BRIC: The bloc where India and China will interact next

Now that the Xi Jinping-Narendra Modi lovefest is on in the Chinese President's ongoing state visit, attention will also turn to BRICS, the international arrangement, for want of a better word, where some of the diplomacy between the two countries will play out. The coming together of the BRICS in a new arrangement offers an intriguing new dimension to international relations.

First Biz

Next Euro-BRICS meeting “The Euro-Russia row as a result of an overlap between two economic unions’ – online September 29th

The second Discussion of this series will take place in September 2014 (date to be commonly defined early September, local time in participating time zones is mentioned below) on this topic : “The Euro-Russia row as a result of an overlap between two economic unions: lessons for a multipolar world in the wake”.

LEAP/Euro-BRICS

WTO rules deleted for Russian sanctions: Putin

Even as US President Barack Obama announced $46 million in new assistance for the Ukrainian military, Russian President Vladimir Putin on Thursday hit out at Western nations for sanctions which he said violated the basic principles of the World Trade Organization (WTO).

The BRICS Post

Europe 2020 – Community or Empire? Is the EU Exploding?

This title is inspired by Franck Biancheri first book (unpublished) written in 1992 and in which the author showed that the founding principles of the European project conceived at the end of the Second World War (a community of countries giving themselves the means to jointly build a lasting peace and a prosperous continent) could, if one were not careful, find themselves marginalised and the well-known reflexes of a Europe-empire (European colonisation, Napoleon, Hitler…) would get back on top.

Global Research

Russia May Divert Europe’s Gas Supplies to China

IfVladimir Putin and Gazprom finalize their grand plan to expand into the Chinese energy market, the European Union will be left literally in the cold. After years of trying to reduce Gazprom's presence in Europe, the European Commission may see Gazprom leaving of its own desire.

RIA Novosti

South Africa: The Economic Partnership Agreement With Europe - Hold Your Nose and Ratify!

Before they went away on the one truly 'religious' festival in the EU calendar - the month-long summer vacation each August - EU trade negotiators hurriedly initialled the Southern African Development Community (SADC) Economic Partnership Agreement

All Africa

Xi Jinping in India: A Breakthrough in Relations?

The Chinese president is in India hoping to manage a complex economic and security relationship. Chinese President Xi Jinping is visiting an India that for the first time in 25 years has given a clear mandate to a single party.

The Diplomat

India pitches for currency swap lines among G20 nations

The US Federal Reserve's Quantitative Easing programme has impacted currencies, especially those of emerging economies including India. Noting that the QE policy has had an impact on the "the currency markets of many of the emerging market economies," Finance Secretary Arvind Mayaram has suggested currency swap lines among G20 nations.

Jargan Post

 -------------------

This special Press Review proposes a selection of articles from the French and English-speaking international online media relating to Euro-BRICS relations. It is delivered freely by LEAP on a weekly basis to recipients worldwide.

Subscription / Contact: info@leap2020.eu

Libertad, Igualdad, Pluralidad. LEAP/E2020 Press Review on the Global Systemic Crisis. 27-03-2013.

Real estate: The use of bubbles as the latest means of inflating the statistics…

Let’s now turn to real estate which has “got going again” (which has been harped on about for at least the last three years) and take a closer look at the causes of this excitement. First of all, a chart on real estate prices putting this famous recovery into some sort of context, which rather resembles a long stagnation. The slight current rise only appears by adjusting the data for seasonal variations. What is it due to? Like the stock exchanges, there’s only one answer: the Fed. Via QE3 operations, it buys 40 billion dollars of real estate debt each month, i.e. it annually injects approximately 500 billion dollars into the property market under, roughly, the guise of loans to private individuals, which corresponds to five million loans of 100,000 dollars. There is no doubt that prices go up with such a measure...

LEAP/E2020 - Excerpt GEAB N°73 (March 16, 2013)

BRICS agrees to create $100 bn contingency fund

In a major achievement for India in its campaign for reforming the international financial architecture, BRICS nations on Wednesday decided to establish a new development bank to finance infrastructure and to create a USD 100 billion Contingency Reserve Arrangement to tackle any financial crisis in the emerging economies...

Times of India

Chypre : les mesures du plan de sauvetage détaillées

Une semaine après une première tentative ratée, qui prévoyait l'instauration d'une taxe sur tous les dépôts bancaires, un accord a été trouvé, dans la nuit de dimanche à lundi 25 mars, entre le président chypriote et ses bailleurs de fonds internationaux pour parvenir à un plan de sauvetage de Chypre, d'un montant maximum de 10 milliards d'euros...

Le Monde

Royaume-Uni: les banques vont devoir trouver 25 milliards de livres

Les banques britanniques vont devoir combler un trou de 25 milliards de livres d'ici la fin de l'année pour renforcer leurs fonds propres et se mettre à l'abri des pertes provoquées notamment par le coût des scandales entachant la City et les turbulences dans la zone euro...

Boursorama

Assad turns to BRICS to 'stop the violence' in Syria

Syrian President Bashar al-Assad urged the BRICS nations on Wednesday to help "stop the violence" in his country and put an end to the suffering of his people he said is caused by international sanctions...

Middle East Online

From Finance to Sex Therapy: London Bankers Escape

With thousands of jobs axed and many more under threat in London's financial center, City workers are leading an exodus from the City as they consider alternative careers and dramatic life changes...

CNBC

Russia, China find compromise on gas deal after 15 year standoff

China has accepted an olive branch from Russia's Gazprom after years of tough talks which had failed to yield a deal on gas supplies, though the main point of conflict - price - remains...

Times India

Australia to Shut Bank-Rate Panel as HSBC, Citigroup Exit

Australia plans to scrap the panel that sets its benchmark interbank borrowing rate, becoming the first major developed economy to replace its rate-setting regime following the global Libor-rigging scandal...

Bloomberg

Food vouchers to provide emergency help but prevent spending on alcohol

Many of the 150 local authorities in England running welfare schemes have confirmed that they will issue the vouchers in the form of payment cards, which will be blocked or monitored to prevent the holder using them for alcohol, cigarettes or gambling...

The Guardian

Iceland offers hard lessons for Cyprus on capital controls

For Iceland, there was a sense of deja vu when Cyprus's finance minister said capital controls would probably last "a matter of weeks". Five years after a banking meltdown, the north Atlantic island has just extended its own controls indefinitely.

Reuters

Sommet des Brics: une nouvelle «ruée vers l'Afrique»?

Les cinq pays émergents qui forment les Brics – Brésil, Russie, Inde, Chine et Afrique du Sud – sont en effet particulièrement actifs sur le continent (le président chinois Xi Jinping en a fait d'ailleurs sa première tournée internationale), à tel point que certains comparent cela avec la « ruée vers l'Afrique » de la fin du XIXe siècle, lorsque les Européens ont colonisé le continent. Mais la comparaison n'est pas tout à fait de mise..

RFI

Petraeus makes public apology for affair that led to resignation from CIA

He made the comments during his first public speech since his resignation in November to a group of about 600 people, including many veterans at the University of Southern California's annual Reserve Officers' Training Corps dinner. The hero of the Iraq and Afghanistan wars has remained largely out of the public eye since resigning...

The Guardian

Defense officials worried over cuts to US military aid

Defense officials expressed concern Wednesday that American financial cutbacks may result in drastic cuts to military aid to Israel and could put anti-missile defense projects such as David’s Sling and the Arrow 3 on the chopping block.

The Times of Israel

Chinese, S. Korean leaders pledge to promote bilateral ties, maintain regional stability

Chinese President Xi Jinping and his South Korean counterpart Park Geun-hye pledged Wednesday in a telephone discussion to further relations between their countries and make more efforts to maintain peace and stability on the Korean Peninsula...

Xinhuanet

Private Banks Sell Debt in Worst Quarter Since ’11: China Credit

Chinese high-yield dollar- denominated bonds are returning the least in more than a year as private banks react to a flood of debt supply and rising global interest rates by cutting holdings...

Bloomberg

 -------------------------------------------------------------

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

"Com està el percal...": Las notas del extesorero: Dos décadas de notas llenas de incógnitas

Las notas del extesorero - Dos décadas de notas llenas de incógnitas

Consulta año a año todos los apuntes contables del extesorero del PP 

Las notas de Bárcenas arrancan en 1990, en pleno ‘caso Naseiro’

GRÁFICO Los papeles de Bárcenas: 1990-2008 

Las cuentas secretas de Bárcenas 

ESPECIAL Caso Bárcenas 

ESPECIAL Busca nombres, cantidades, fechas... 

Los secretos de Luis Bárcenas Gutiérrez, manuscritos en 14 hojas de un cuaderno cuadriculado en el que registró durante 18 años como gerente y tesorero algunos episodios contables de la vida del partido, han puesto en una situación dificilísima al PP, el partido que gobierna España y tiene el poder de la mayoría de las autonomías y ayuntamientos en uno de los momentos más delicados para el futuro del país. La contabilidad manuscrita que manejó Luis Bárcenas contiene datos que ya han sido avalados como auténticos por sus protagonistas o por documentos judiciales (un préstamo concedido a Pío García Escudero; una ayuda a una edil navarra que sufrió un atentado, un ingreso de Pablo Crespo, entonces dirigente del PP gallego, que está recogido en el sumario del caso Gürtel...); pero también hay supuestos pagos que son tajantemente negados por quienes presuntamente los recibieron. Dirigentes del PP aseguran que Bárcenas pudo inventárselos para desviar fondos a su propio bolsillo haciéndolos pasar por sobresueldos a otros. Según esa teoría, los papeles del extesorero serían una mezcla de verdades y mentiras, un documento lleno de incógnitas. Los apuntes arrancan en abril de 1990, cuando el PP, en la oposición, sufre un fuerte desgaste por el caso Naseiro, el proceso judicial contra su tesorero Rosendo Naseiro por supuesto cobro ilegal de comisiones a una constructora para financiar al partido. Aquí puedes consultar todos los pagos y todos los nombres anotados por Bárcenas año por año.

1990. Las notas de Bárcenas arrancan en pleno ‘caso Naseiro’

En los papeles hay referencias a seis supuestas pagas a "J. M."

1991. Últimos registros de entregas a los abogados de Rosendo Naseiro

Pedro Arriola sigue facturando sus servicios de asesoría electoral para el Partido Popular

1992. Piñeiro, el único que aporta dinero, según las anotaciones

Las cuentas secretas que maneja Bárcenas apenas registran movimientos este año y los gastos tampoco son relevantes

1993. Las cuentas reflejan una entrega de cinco millones de pesetas para el extesorero Ángel Sanchís

Sin aparente explicación, cobró esa cantidad en concepto de liquidación pendiente y finiquito

1997. Aparecen en las anotaciones Arenas, Cascos, Rato, Rajoy y Mayor

El dinero viene fundamentalmente de Galicia, al menos, el registrado en las cuentas

1998. Registro de dinero recaudado de un empresario y un constructor

En el capítulo de retribuciones siguen apareciendo Arenas, Rato, Rajoy, Mayor y Cascos

1999. Pedro Crespo entrega 21 millones al partido, según las cuentas

La mayor aportación que registra Bárcenas llega de "Galicia". Las cantidades periódicas para la cúpula del PP son como en 1998

2000. Álvarez Cascos lidera los supuestos cobros con 6.600.000 pesetas al año

Empiezan a anotarse los nombres de los empresarios-constructores que hacen las donaciones

2001. Los papeles reflejan ayudas a víctimas de ETA

En la contabilidad aparece que García Escudero devuelve la primera parte del adelanto que recibió para arreglar los desperfectos en su casa, afectada por un atentado de la banda terrorista

2002. Registros de entregas que incumplen la Ley de Financiación

Las donaciones registradas crecen significativamente en los últimos años del mandato de Aznar

2003. Se disparan las anotaciones de donativos de empresarios

Muchas entregas superan los 60.000 euros que marca la ley

2004. Los registros de entregas a la cúpula se limitan a Rajoy y Acebes

Este año hay una anotación misteriosa donde se cita a un letrado en Cortes, Alberto Dorrego, que tuvo que dejar su cargo tras verse involucrado en negocios para los que era incompatible

2005. Solo un donativo empresarial reflejado en la caja

Los abonos trimestrales a Rajoy como presidente del partido y a Acebes como secretario general se mantienen

2006. Primeras notas sobre entregas para vestuario de Rajoy

Los donativos empresariales vuelven a llenar la caja, según los apuntes de Bárcenas

2007. Los registros de donativos crecen a un año de las elecciones

Consta la anotación de un donativo de 200.000, tres veces superior a lo permitido por la ley, de Luis del R., que también ha negado el pago

2008. Aparecen cantidades para Cospedal, que echó del partido a Bárcenas

La contabilidad refleja que la nueva secretaria general recibió dos pagos trimestrales de 7.500 euros

 

Chulvi elegido presidente del Comité Nacional del PSPV

Xabiaaldia.es 09/10/2012 - 21:28

El alcalde de Xàbia, José Chulvi, primer diputado provincial que ha tenido este pueblo sigue cosechando éxitos por su gestión. La ejecutiva del país de su partido acaba de nombrarle presidente del Comité Nacional.

Este es el máximo órgano de gestión del partido entre congresos y se reúne con una frecuencia aproximada de tres meses. La designación tiene especial relevancia, ya que en el caso de que la dirección de Ximo Puig dimitiera, el máximo responsable del partido a nivel autonómico sería el propio Chulvi, por tanto no hay que desdeñar este nombramiento.

Asimismo, formará parte del Comité de Listas cuyo único fin es supervisar la elaboración de las listas de los socialistas a las diversas convocatorias electorales. De esta manera no sería extraño que el alcalde apareciera en uno de los puestos de salida, por ejemplo, para les Corts Valencianes o, por qué no, al Congreso, con lo que quitaría el título al síndic de greugues por ahora único diputado xabiero en los 30 y tantos años de democracia. Pero esto son especulaciones. Llegado el tiempo se verá. 

Cabe recordar que Chulvi estuvo en todas las quinielas para ser secretario general de la provincia de Alicante, y así se lo trasladaron desde las familias del PSPV, pero finalmente el primer edil xabiero decidió antes del verano que debía dedicarse a su pueblo y a la dificultad que supone gestionar un municipio que ha pasado en tres meses de vivir en la abundancia a mirar uno a uno todos los gastos.

Ya lo dijo el anterior secretario general y ahora defenestrado diputado, Jorge Alarte, "Chulvi estará donde quiera estar". Así es, y así se demuestra con estos nombramientos ahora aprobados por la ejecutiva que dirige Ximo Puig, que también lo debe considerar un puntal, al ser el único alcalde socialista de una población de más de 20.000 habitantes.

Libertad, Igualdad, Pluralidad. News/Notícias/Notícies: " El alcalde de Xàbia sostiene que otros 135 pueblos han pedido anticipos a cuenta del IBI ".

fuente: Levante-emv, 24-08-2012 A.P.F.

Xàbia se agarra a un anticipio de 5,3 millones del Tesoro Público para salir del agujero negro del postcatastrazo. El gobierno local (PSPV, Xàbia Democrática y CpJ) sacó adelante ayer en el pleno la petición al Estado de que adelante parte de los ingresos previstos de IBI. El pasado mes de abril el Tribunal Supremo tumbó el catastrazo (la ponencia de valores de 2005) y la Dirección General del Catastro todavía no ha enviado el nuevo padrón. El ayuntamiento no puede emitir recibos de IBI y empieza a fallar la liquidez. Por eso se pide un anticipo que el alcalde, José Chulvi, del PSPV, admite que responde "a una situación especial". Y tanto. La previsión de ingresos se ha venido abajo estrepitosamente. Con el catastrazo se preveía recaudar 21 millones de euros. Al anularse la ponencia, los ingresos se desplomaron. Había que conformarse con 13 millones. Y ahora, sin padrón (el Catastro asegura que lo enviará antes de acabar este mes), el gobierno local debe apañárselas con 5,3 millones.
El anticipo al Estado revela las urgencias económicas del ayuntamiento, pero, dado que no tiene intereses, es una tabla de salvación a la que, según el alcalde, también se aferran otros pueblos. Chulvi dijo que el pasado año 136 municipios solicitaron anticipos a SUMA (la agencia de gestión tributaria de la Diputación de Alicante) y este año ya lo han hecho 135. Xàbia no tiene transferida la recaudación a SUMA y recurre al Tesoro Público. En el pleno, también se aprobó el plan de reintegro de los 5,3 millones. Cuando Xàbia, por fin, tenga el padrón del IBI y pueda cobrar un impuesto que ahora mismo sostiene la hacienda local, se cancelará el anticipo y se devolverá en tres plazos. La oposición votó a favor de pedir el anticipo. No se escuchó una voz discrepante. Pero sí hubo un voto que rompía el consenso. La edil del PP Rosa Cardona se abstuvo y quebró la disciplina de un grupo municipal popular que, como oposición, es un florero. Cardona, que es afín al exportavoz José Juan Castelló, expulsado del grupo del PP por los otros tres ediles, marcó distancias con sus compañeros. El PP de Xàbia, por mucho que se quiera vender otra imagen, continúa siendo una familia mal avenida.
Alfons Padilla

 

 

Libertad, igualdad y pluralidad: News - Prensa Internacional - Notícies -

Moody's poised to downgrade UK banks. The move is expected as part of a broader credit downgrade of some of the world's major banks and could be delayed until after US markets close. It is thought that British banks including Barclays, HSBC and Royal Bank of Scotland are facing a cut in their ratings by as much as two notches, reflecting the continued impact of the eurozone crisis on the global banking system. The Telegraph

C.I.A. Said to Aid in Steering Arms to Syrian Opposition. A small number of C.I.A. officers are operating secretly in southern Turkey, helping allies decide which Syrian opposition fighters across the border will receive arms to fight the Syrian government, according to American officials and Arab intelligence officers. The New York Times 

L'interminable ajustement de l'immobilier espagnol. L’ajustement du secteur immobilier espagnol semble en voie d’accélération. Ainsi, au premier trimestre les prix du logement ont baissé de 12,6% sur un an, la chute la plus importante depuis le début de la crise. La baisse totale est de 22% depuis 2008, selon les calculs de l’OCDE. Ce réajustement devrait être renforcé par les réformes financières du gouvernement de Mariano Rajoy qui forcent les banques à mettre leurs actifs immobiliers sur le marché. La Tribune 

Euro-Zone Leaders Tired of Criticism from Abroad. The state of the euro zone is the dominant theme at the G-20 summit in Mexico this week. But European Commission President Barroso has had enough. He erupted in frustration on Monday and insisted that Europe is doing all it can. Not all of the gathered leaders would agree. Der Spiegel 

Clara Jamart: “Food prices up by 25-50%”  . The price of foodstuffs is high all over the world, not just in the Sahel. Every month, the FAO produces an index of world food prices. It was at 214 points last month, which is higher than in 2008, during the food riots when it was at 200 points. As for the Sahel, contrary to what usually happens, the price of cereals hasn’t dropped after the harvests. Foodstuffs are between 25-50% more expensive compared to the average for the last five years. And it is thought that prices could increase again by 25-30% in July and August. L'Humanité 

US politicians attack 'London loophole' as JP Morgan boss explains $2bn loss. Jamie Dimon, chief executive of JP Morgan, defended the bank’s decision to locate in Britain large parts of the business that made a shock $2bn (£1.3bn) as US politicians attacked its exploitation of the “London loophole”. Giving evidence to US lawmakers yesterday[Tuesday], Mr Dimon said JP Morgan’s CIO [Chief Investment Office] operation “could have been in London or somewhere else” as he defended the bank’s British operations. The Telegraph 

PP and Socialists forge pact ahead of tense EU summit. The government and the main Socialist Party will come together to try to show the rest of Europe a united Spanish front by voting together in solidarity for the fiscal stability pact in Congress on Thursday. The move comes ahead of an EU summit starting on June 28, which is expected to be a tense affair as solutions to the ongoing euro crisis are discussed. El Pais 

Job Openings in U.S. Decrease by Most in Almost Four Years. Job openings in the U.S. decreased in April by the most in almost four years, the latest sign that the labor market is cooling. The number of open positions dropped by 325,000, the biggest decline since September 2008, to 3.42 million from 3.74 million the prior month, the Labor Department said today in Washington. Hiring slowed from the prior month and firings climbed...  Bloomberg 

China's Food Fright  . There’s no denying that the gastronomic horizons of Chinese cuisines sometimes verge on the infinite. But on factors of food quality, there’s little subtlety or nuance over the level of safety standards. In the past five years, the number of public food and drug safety scandals has hit new highs. In 2008, there was the tainted milk scandal. Then, this year’s poisoned medicine capsule case and contaminated cooking oil scandal signaled that there continue to be severe barriers to the adequate protection of public health.  Caixin 

China Manufacturing Slump May Match That of 2008 Crisis. China’s manufacturing may shrink for an eighth month in June, matching the streak during the global financial crisis in a signal the government’s stimulus has yet to reverse the economy’s slowdown. The preliminary reading was 48.1 for a purchasing managers’ index today from HSBC Holdings Plc and Markit Economics. Above-50 readings indicate expansion. The lowest crisis level was 40.9 in November 2008, when industrial production increased 5.4 percent from a year earlier, compared with a gain of 9.6 percent last month. Bloomberg 

BoE lends banks $7.86B from new support facility. The Bank of England said Wednesday it lent banks 5 billion pounds ($7.86 billion) in the first use of a facility set up late last year to shield the U.K. financial system from fallout from the euro-zone debt crisis. The BOE said it allotted the full GBP5 billion on offer in the auction and banks taking up the six-month loans will pay 0.75% interest, 25 basis points above the BOE's key rate. Market Watch 

U.K. can’t keep blaming Europe for dismal economy  . Growth is flat. The central bank is pumping emergency cash into the system. Retail sales are declining, and house prices outside central London are falling. The U.K. might have the Olympics to look forward to this summer, but not much else. Market Watch 

Europe Will Emerge Stronger Than Ever: Mark Mobius. It’s hard to be bullish with a growing chorus of voices chanting the end of the euro zone is nigh. But one influential investor thinks Europe will emerge from its debt crisis intact and stronger than ever. Mark Mobius, Executive Chairman of Templeton Emerging Markets Group, told CNBC Asia that European countries are engaged in a prolonged and necessary game of chicken. CNBC 

Friggit juin 2012 : la baisse des prix s’amplifie et se généralise. Pour le mois de juin 2012, les courbes de Friggit montrent des baisses importantes des prix de l’immobilier et cela aussi bien en Province qu’à Paris ou en Ile-de-France. Les volumes de transactions chutent également après les effets d’aubaine liés à l’augmentation des impôts sur les plus-values et à la baisse des aides à l’achat. Découvrez les mises à jour importantes des travaux de Jacques Friggit. Immobilier danger 

GEAB N°66 is available! Red alert / Global systemic crisis – September-October 2012: When the trumpets of Jericho ring out seven times for the world before the crisis. LEAP/E2020 has never seen the chronological convergence of such a series of explosive and so fundamental factors (economy, finances, geopolitical…) since 2006, the start of its work on the global systemic crisis. Logically, in our modest attempt to regularly publish a “crisis weather forecast”, we must therefore give our readers a “Red Alert”... LEAP/E2020 - Public annoucement GEAB N°66 (June 19, 2012)

Economy News / Actuality / Noticias - Economía - Actualidad

Stock Exchanges: increasingly fewer participants, more and more uncertainties and paralysed central banks… the return to the lowest levels of 2009 is taking shape.  

As we have highlighted in recent GEAB issues volumes and the number of participants are in freefall on major Western stock exchanges. At the same time, the world recession (as anticipated by our team already several months ago, this spring economies everywhere are slowing down or falling back into recession) calling into question the stock exchange bet of a recovery in 2012, particularly in the United States; whilst the risks of inflation associated with the Western banks and many European countries solvency problems steadily weaken confidence each day of a lasting rise in financial markets. This situation is reinforced by the increasingly perceptible impotence of the major central banks.  LEAP/E2020 - Excerpt GEAB N°65 (May 2012)

Pending home sales index declines in April. 

An index of pending home sales fell in April for the first time in four months, the National Association of Realtors said Wednesday. The index dropped 5.5% to 95.5 from a downwardly revised 101.1 in March. March's pending home sales index was initially reported to be 101.4. Yet pending sales are still 14.4% higher compared to one year earlier, NAR noted... Market Watch

 

The importance of the housing market in our economy necessitates that medium term developments be predicted to adjust strategies and investments, or to mitigate the consequences of its sharp changes. However, many articles drawing completely conflicting conclusions obscure our view. This book sheds light on the question in anticipating, on a solid foundation the changes in residential property prices during the next decade. To this end, the phenomena involved are explained and the underlying trends and resulting findings analyzed, especially from economic, social and demographic factors.  Anticipolis Publishings

  

China-Japan currency deal ushers in a new era

 Direct trading of yuan and yen will boost ties between China and Japan. China and Japan will start direct trading of their currencies on Friday in a move to boost trade ties between Asia's two biggest economies. This will be the first time that China has allowed a major currency, apart from the US dollar, to trade directly with the yuan...  China Daily

 France moves to cap executive pay at state firms

 France's new government will flesh out plans to cap the pay of top executives at state-controlled companies by mid-June, laying down a marker in a Europe-wide debate fuelled by waves of austerity and rising unemployment. Elected this month promising to curb the privileges enjoyed by France's wealthy and powerful, Socialist President Francois Hollande pledged during campaigning to limit senior executives' salaries to a maximum of 20 times that of their lowest-paid employee. Reuters

RBS shareholders will never recover money they lost

Sir Philip Hampton said investors who owned RBS shares before its £45.5bn bailout in October 2008 were likely to be dead before the bank's value recovered to anything close to its pre-crisis level. "I don't think shareholders wealth is likely to be restored any time in my lifetime or some lifetimes beyond," said Sir Philip, who was brought in as the bank's chairman in January 2009.  The Telegraph

Changing Lanes

The economy is indeed slowing down, but there is no reason to panic as long as the government steers the country toward reforms. Is China's economy moving out of the fast lane? Growth indicators have mostly fallen below market expectations, and organizations have been quick to lower their growth forecasts. Caixin

Immobilier : la tendance à la baisse des prix se confirme

Les prix des logements anciens en France ont augmenté légèrement (+1,3%) sur un an au premier trimestre, tirés par la hausse continue en Ile-de-France (+5,4%) alors qu'une décrue s'amorce en province (-0,5%), selon l'indice Notaires-Insee publié jeudi 31 mai. Toutefois, une baisse moyenne de 0,7% est enregistrée par rapport au quatrième trimestre 2011, avec un repli plus fort pour les maisons (-1,0%) que pour les appartements (-0,3%), selon ce même indice. Challenges

United Nations experts express concern over recent events in Quebec  

Two United Nations independent experts on the freedoms of peaceful assembly and association, and of opinion and expression today voiced concern over demonstrations in Quebec on 24 May, reportedly involving serious acts of violence and detention of up to 700 protesters... UNOG

(Re)mettre les langues au cœur des systèmes éducatifs !

Remettre la langue au cœur du système éducatif pourrait passer, si l’on se réfère à l’esprit du temps, pour un retour au passé. Il est vrai que l’apprentissage de la langue maternelle (ou de scolarisation) a été l’alpha et l’oméga de l’enseignement primaire depuis son origine. L’est-il encore ? C’est une question. Mais mettre "les" langues, au pluriel, au cœur des systèmes éducatifs, c’est une révolution. APLV / OEP

Japan posts anemic factory output growth in April  

Japan on Thursday posted anemic factory output growth of 0.2% in April, slower than expected and raising concerns about a recovery for the world’s third-largest economy. The economy, trade and industry ministry put a positive gloss on its latest figures, saying output “continues to show an upward movement”, while the government and Bank of Japan have both maintained in recent months that growth is on a positive track. Japan Today

Auto Jobs: Sign of the Times

It should not come as a surprise with unemployment over 8% that good paying jobs in manufacturing are harder than ever to land. At the Hyundai plant in Montgomery, Alabama more than 20,000 people have applied for one of the 877 job openings. The surge of people applying may seem unusual, but it's not. Take a look... CNBC

India - Q4 GDP: Derailed economy has economists worried about FY13

India’s economic growth grew at its weakest pace, slipping to 5.3% for the fourth quarter of FY12. This is the lowest in nearly nine years due to poor performance of the manufacturing and farm sectors. Samiran Chakrabarty, head-research, Standard Chartered Bank sees bond yields likely heading lower from current levels. The 10-year bond yields fell 3 basis points to 8.49% as concerns over global risk aversion lured investors towards safe-haven government debt.  Money Control

Russia - Central Bank Ramps Up Defense of Battered Ruble

 Russia’s Central Bank quintupled its intervention on the domestic foreign exchange market to 530 million rubles ($16 million) on Tuesday to prop up the ruble, battered in the past few days over negative external developments, the regulator’s data suggested on Wednesday... RIA Novosti

Warning: America’s new Age of Austerity starts now

Warning, tighten your belts, America’s new Age of Austerity is already here, today. There I said it. I admit it. And you better too. Prepare now. Could be like the 1930s depression austerity. You’ve seen the warnings all across the major newspapers about a global slowdown. But why no warnings of austerity dead ahead? Why? America’s still deep in denial. We prefer happy talk to the truth. No, nobody will get honest about austerity till after the elections. Then it’ll hit hard. Market Watch