Press Review / Libertad, Igualdad y Pluralidad / Notícias /

Pensions: capital destroyed by the financial crisis and distribution reduced by austerity, falling real estate and rising inflation … cuts are the order of the day

Due to the financial crisis, portfolio asset devaluations and their stock exchange losses, pension funds are reducing the size of annuities paid to pensioners who thought they were guaranteed decent incomes in their retirement. Governments are increasing measures to reduce the size of pension, either by increasing the compulsory contribution period, or by quite simply reducing their monthly payment. And the very low interest rate policies are ‘killing’ pension fund incomes . On the chart below, note that between 2008 and 2012 British pensioners have already seen their incomes cut by almost 20%; and the same phenomenon is at work throughout the Western world...    LEAP/E2020 - Excerpt GEAB N°65 (May 2012)

Audio - Franck Biancheri on Sovereign Debt Crisis and Europe’s Future 

FSN Foreign Correspondent Erik Townsend interviews Franck Biancheri, founder of European think tank LEAP/E2020 on the causes of the sovereign debt crisis, Europe’s future, pending war between Iran, Israel and the United States, and common...    Financial Sense

German trade activities slow down

German exports and imports have contracted amid the eurozone debt crisis and a worsening trade environment globally. On a year-on-year basis, though, things don't look that gloomy at all for Europe's biggest economy.   Deutsche Welle

System to price rare earths

China is to set up a national pricing system for rare earth metals within the next month, in addition to its new trading platform, to further regulate the industry and strengthen its control of the resources, essential materials in consumer electronics and other high-tech goods.   China Daily

The European Central Bank's Discreet Help for Greece

The European Central Bank is now taking risky measures to help save Athens from its acute financial emergency. Increasingly, euro-zone leaders are pushing the dirty work on the ECB. In the end, though, they will likely have no choice but to pay Greece the next tranche of its bailout package.   Der Spiegel

George Osborne told his lending scheme boosts banks - not the economy

Four years after the global financial crisis, the British economy remains flat on its back, the Bank of England confirmed yesterday. The Bank also warned that George Osborne's new scheme to kickstart lending to credit-starved households and businesses might end up boosting bank profits rather than helping the economy.    The Independent

German opposition: only eurobonds can save the single currency

The German opposition has endorsed plans for a national referendum on creating a full-blown fiscal Union. The leader of the centre-left SPD party, Sigmar Gabriel, rolled out the proposals at a small press conference in Berlin on Monday (6 August). He said the euro can only be saved by pooling debt and sovereignty.   EUObserver

Bank of England sharply cuts growth forecast

In its quarterly Inflation Report, the BoE said that growth in two years time was likely to be around 2pc a year, down sharply from the forecast of 2.67pc just three months ago. This marks a break with previous BoE forecasts, which have usually shown strong rebounds in growth, even after short-term weakness.   The Telegraph

L'assurance-vie menacée d'une nouvelle baisse de ses rendements

Bien qu'attendus en hausse en début d'année, les rendements des contrats d'assurance-vie en euros (à capital garanti) pourraient de nouveau s'afficher en baisse en 2012, flirtant désormais avec le taux du Livret A. Or, le contexte est déjà difficile pour l'assurance-vie, qui a connu une décollecte nette (retraits supérieurs aux versements) lors de 10 des 11 derniers mois – du jamais vu.   Le Monde   

Permanent jobs fall for second month

The number of people placed in permanent jobs has fallen for the second month in a row, suggesting that employers are putting recruitment decisions on hold until after the Olympics, according to new research. A report by KPMG and the Recruitment and Employment Confederation (REC) said there was still a "high degree of uncertainty" among employers.   The Independent

Japan July 1st 20-Day Exports -2.4%, Trade Deficit Y580.0 Bln

Japan's exports fell in the first 20 days of July from a year earlier, when shipments were recovering from the major supply chain breakdown caused by the March 2011 earthquake disaster, data released by the Ministry of Finance showed on Wednesday.    Deutsche Börse

The cost of the Olympics vs. the cost of landing Curiosity on Mars : A tragedy of priorities

The most appalling infographic you’ll see today compares the cost of the Olympics vs. the cost of landing Curiosity on Mars. And yet, the future of space exploration is more precarious than ever...    Explore

National identity just hasn’t been eroded

Eurosceptics argue that EU integration undermines national identities and cultures. But is there such thing as a common “European identity”? In its continuing series on euromyths, De Groene Amsterdammer tries to sound out what Europeans think.  PressEurop

Le jeu trouble de Reuters dans la crise de la zone euro (encore et toujours)

 

Vendredi, 16 h 33. Une dépêche de l’agence anglo-saxonne Reuters, fil anglais, titre : « l’Espagne discute d’un plan de sauvetage global » de 300 milliards d’euros. Gasp ! Quel scoop ! Après la Grèce, l’Irlande, le Portugal, l’Espagne (et Chypre…). Il ne manque plus que l’Italie pour que tous les PIIGS soient au tapis.  Libération

 Are US Sanctions Against Iran Working?

 The U.S. State Department has been adamant that the economic pressure it has been putting on Iran will force that country to come to the negotiation table and abandon or modify its nuclear ambitions. Having said that, it looks as if Tehran is not serious about negotiating until after the U.S. elections in November.  CNBC

La province orientale de l’Arabie Saoudite en ébullition  

Le vendredi 3 août au soir, l’est du royaume saoudien a une nouvelle fois été le théâtre de violences. Deux personnes, dont un policier, ont été tuées lors d'une attaque contre une patrouille de police. Depuis janvier 2011, l’Arabie Saoudite sunnite tente, tant bien que mal, de mater le soulèvement de la minorité chiite majoritaire dans l’est du pays.  RFI 

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