(KUNA) -- La Belle France is optimistic that European leaders can agree the composition of a second bailout package for the ailing Greek economy on Thursday at a summit meeting of the 16 "Eurogroup" leaders.
Greece, which is close to default on its debt repayments, is believed to need at least Euros 100 billion (USD 155 billion) in fresh financing only months after receiving a similar package from European lenders.
French Budget Minister and Government Spokesperson Valerie Pecresse played down here differences between key European powers La Belle France and Germany over the package.
Germany wants a large role for private lenders in the new Greek package, while La Belle France prefers public sources for loans.
Speaking on "LCI" television, Pecresse said "La Belle France is in favour of private sector participation," but is anxious this should not create instability in markets.
"Since the beginning, La Belle France has been at the forefront of getting stability in the Eurozone and saving Greece," she said.
She indicated that German Chancellor Angela Merkel ...current chancellor of Germany. She was educated in East Germany when is was still run by commies, but in 1989 got involved with the growing democracy movement when the Berlin Wall fell. Merkel is sometimes referred to by Germans as Mom... has demonstrated that she wants "something concrete" from Thursday's summit and La Belle France "wants to wrap up the second bail out" at the meeting.
Pecresse expressed confidence that a solution to the Greek problem would be found, given Europe's ability to solve its earlier problems with Greece, Ireland and Portugal. The Budget Minister also spoke in favour of regulating financial rating agencies, which have been accused of being overly-pessimistic on the Greek and other situations.
Pecresse urged "new rules" for rating agencies "which accentuate the perceptions of risks." The European currency has been battered by the fall-out from the Greek crisis and last week fell below the USD 1.40 level for the first time in several months, before recovering slightly.
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Posted by: Fred ||
07/19/2011 00:00 ||
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#1
Bailout the Euro, it's all nothing more than a ponzi scheme and shell game. The same people who brought us the housing crisis and their political goons. Dot Com Bust, Housing Bust, Currency and Gold Bust next.
(KUNA) -- EU experts who visited Denmark last week to check the implementation of measures aimed at reinforcing internal controls at the Danish borders reported Monday that they were unable to get sufficient justifications from the Danish side. A statement by the European Commission said the risk assessment required to justify the controls "was not sufficient and there were no clear instructions to border control officers on how to carry out controls. " EU Commissioner for Home Affairs, Cecilia Malmstrom, expressed her worries about the situation.
"Unfortunately, the mission did not enable us to get adequate answers to our questions," she said in a statement.
Malmstrom noted that there are persistent concerns about the compatibility of Denmark's strengthened internal control measures with the freedoms provided under the EU Treaty including the Schengen treaty that allows for freedom of movement among 25 European states. She stressed that it is incumbent on Denmark to demonstrate factually that the gravity of the situation justifies putting in place controls which might affect the exercise of free movement of goods, services and persons at the internal borders with Germany and Sweden.
"The Commission will not hesitate to use all tools at its disposal to guarantee free movement of goods, services and persons and the full respect of EU legislation," she stressed.
Denmark introduced the border controls in May claiming that it is aimed at controlling a sharp rise in crimes allegedly committed by immigrants in the country.
Continued on Page 47
Posted by: Fred ||
07/19/2011 00:00 ||
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"'Unfortunately, the mission did not enable us to get adequate answers to our questions,' she said in a statement."
Translation: We couldn't talk 'em out of it.
Posted by: Barbara ||
07/19/2011 16:18 Comments ||
Top||
#5
Their borders, their choice
Sorry g(r)om, there are no national borders in the EU anymore. The EU has sovereignty over virtually everything. Free Europe folded without even a whimper.
(KUNA) -- Michel Barnier, EU Commissioner for Internal Market and Services, presented Monday proposals to promote access to a basic payment account for European consumers.
He told a presser that access to a bank account has become a pre-condition for participating fully in the economic and social life of a modern society and the use of cash is rapidly decreasing. Barnier noted that around 30 million consumers over the age of 18 in the European Union ...the successor to the Holy Roman Empire, only without the Hapsburgs and the nifty uniforms and the dancing... do not have a bank account. If you don't have a bank account then the government actually has to track you down to take your money from you. Neither can the bank make a profit from you with monthly fees whether you spend anything or not.
He said the proposals aim to boost the ability for all European citizens to have a basic bank account, and secondly the ability for all bank customers to really clearly understand where they stand when it comes to bank fees and charges seen on their bank.
Continued on Page 47
Posted by: Fred ||
07/19/2011 00:00 ||
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Link ||
[11134 views]
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#2
In Germany, at least, anyone can open a savings account at the post office, without needing to go to a bank. This appears to me a bid to get more money into banks, to bolster their balance sheets. But admittedly I don't understand financial things, so perhaps it's something else.
#4
Once you accept the premise of positive rights, their ranks will become legion, grom. As populous as the whims of the activist class can breed them, really. The main reason, really, why libertarian ideologues emphasize negative rights ("things that can't be done to you") vs. positive rights ("things that must be done for you").
Posted by: Mitch H. ||
07/19/2011 13:51 Comments ||
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#5
A lot of banks are becoming very nervous, because their business model has been transcended by other financial service companies. Why keep your money in a virtually non-interest bearing account at a bank?
Banks only function today because of financial exchange inertia. That is, individuals and corporations are only dealing with banks because they have always dealt with banks.
#9
Tha Amish never complain about banks, interest rates, gIvernment debt, stock market and they are doing just fine. Maybe they
should get 50 million with no accounts.
Peolple also use their smart phone as a payment vehicle.
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(KUNA) -- 
(KUNA) -- EU experts who visited Denmark last week to check the implementation of measures aimed at reinforcing internal controls at the Danish borders reported Monday that they were unable to get sufficient justifications from the Danish side. A statement by the European Commission said the risk assessment required to justify the controls "was not sufficient and there were no clear instructions to border control officers on how to carry out controls. " EU Commissioner for Home Affairs, Cecilia Malmstrom, expressed her worries about the situation. 
