European banks are short of money by Zivka Deleva

The banking system in Europe is on stress test again. Due to the fall of the world stocks and the borrowing they must repay to the European Central Bank. We are talking about 100 billion euros and about the deadline – tomorrow!!! The banks had about one year to return the money, but it seems like huge number of them is not ready to do so. During the next month experts from the ECB are going to check out the banks liquidity and decide what to do with the indebted ones. The banks as well follow the principle of the nature, the stronger will survive. Almost each euro zone country is trying to give its best in improving the banking system, but it seems like the situation! is not so gay. No matter how much businessmen will want to invest, it is normal for them to be concerned whether they will put the money in the right bank. Due to the bad open on Wall Street, the U.S stocks went down more than 1 percent. And US biggest trade rival – China – marked even bigger – 4 percent fall. “Equity markets are weak, so there’s been a reasonably large reverse in risk-taking behavior. It’s been an amplified reaction, due to limited liquidity, and it will be difficult to tell how far the selling will extend” - said Daragh Maher, senior currency strategist at Credit Agricole. What a time we are living in, you can’t trust no one anymore, nothing is completely certain, everyday you get surprised from some or something. And I believe that people are more and more scared to put their money in savings-banks and the banks themselves. It seems like saving your money under the pillow like our ancestors did, is safer.!

by Zivka Deleva for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.

Na evropskite banki im falat pari by Zivka Deleva

Bankarskiot sistem vo Evropa e pod stres testovi povtorno. Toa se slučuva poradi padot na svetskite akcii i zaemite što tie moraa da í gi vratat na Centralnata Evropska Banka. Zboruvame za 100 milijardi evra i za krajniot rok – utre! Bankite imaa okolu edna godina za da gi vratat parite, no se čini deka ogromen broj od niv ne e spremen da go stori toa. Za vreme na naredniot mesec, eksperti od CEB kje ja proveruvaat likvidnosta na bankite i kje odlučat što da pravat so zadolženite banki. Bankite isto taka go sledat principot na prirodata, posilniot kje preživee. Rečisi sekoja država od evrozonata se obiduva da go stori! najdobroto što može so cel da go podobri svojot bankarski sistem, no se čini deka situacijata i ne e baš vesela. Bez razlika kolku biznismenite kje sakaat da investiraat, normalno e za niv da bidat zagriženi dali kje sakaat da gi stavat bankite vo vistinskata banka. Zaradi lošiot početok na rabotata na Vol Strit, amerikanskite akcii opadnaa za povekje od eden procent. I najgolemiot amerikanski rival – Kina zabeleža duri i pogolem pad od 4 procenti. „Pazarite na kapital na akcii e slab, pa ottamu postoi golemi promeni vo visokorizičnoto odnesuvanje. Imaše izrazena reakcija poradi ograničenata likvidnost, i bi bilo teško da se kaže kolku daleku može da odi prodažbata“ – reče Darag Maer, viš strateg za valuti vo „Kredit Akrikol“. Vo kakvo samo vreme živeeme, ne možete da mu veruvate na nikogo povekje, ništo ne e celosno sigurno, sekoj den! ste sé povekje iznenadeni od nekoj ili nešto. I jas! veruvam deka lugjeto se sé povekje isplašeni da gi stavat nivnite pari vo štedilncii i vo banki. Se čini deka zaštedata na vašite pari pod pernica kako što pravele našite predci e pobezbedna rabota.

by Zivka Deleva for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.

Lets say truth... by Barbora Misakova

For those who are uninitiated into the market matters (just as I am) must all those information about fears of sinking stocks seem trite and tiring. Every single day there is at least one article about economic situation. That is normal. But while on Monday is everything all right and we are getting out of economic crisis, on Wednesday is everything downhill for us. How should we then read the newspapers and watch TV when they all just confuse us? Why can’t we say “it is ok” only when it really is? Is it some kind of stimulation and cheer technique? If it is so, we should think hard what we will say to cover up the fact that world stocks sink on bank fundi! ng fears. Global stock exchanges sank sharply Tuesday and investors worry whether banks would be able to repay some 442 billion Euros they borrowed a year ago. Money borrowed from European Central Bank must be repaid on Thursday what leaves a potential liquidity shortfall in the financial system of more than 100 billion Euros. The European Central Bank holds a three-month tender and expectations are that 210 billion Euros will be allotted at the offer. But first of all, the banks will be tested. Reuters was told that more than 100 banks in Europe will be examined in a second round of stress tests to gauge how well they can handle shocks to the financial system. But investors worry: the fragile banking sector may weigh on global growth.

related story (sgx17734): http://www.france24.com/en/20100629-global-stocks-bank-fun! di...

by Barbora Misakova for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.

Čo takto povedať pravdu... by Barbora Misakova

Pre tých, ktorí nie sú do trhových záležitostí zasvätení (tak ako ja) sa musia zdať všetky informácie o strachu z topiacich sa svetových trhov prehnané, otrepané a únavné. Každý jeden deň vyjde v novinách aspoň jeden článok, ktorý sa zaoberá súčasnou ekonomickou situáciou. Na tom nie je samozrejme nič zvláštneho. Ak sa však jednotlivé správy svojim spôsobom negujú, je to viac ako zvláštne. Čím to je, že kým v pondelok čítame o vzrastajúcich indexoc! h a postupnom oživovaní jednotlivých svetových trhov, v utorok už ide zasa všetko dolu vodou? Ako máme zaujať stanovisko, keď oficiálne správy nás len mätú? Prečo nepovieme „je to v poriadku“ až keď to naozaj tak je? Alebo je to len nejaká technika pre povzbudenie trhu? Ak je to tak, budeme musieť intenzívne premýšľať, čo pozitívne si vymyslíme tento raz, aby sme ututlali skutočnosť, že svetové trhy sa zo strachu z financovania bánk potápajú. Svetová burza cenných papierov prudko klesla v Utorok a investori sa obávajú, či budú banky schopné splatiť približne 442 miliárd Eur, ktoré si pred rokom požičali. Peniaze, požičané z Európskej centrálnej banky musia byť vrátené do štvrtka, čo! by znamenalo, že potenciálna likvidita finančn! ého systému by sa znížila o viac ako 100 miliárd Eur a dostala sa tak do manka. Európska centrálna banka drží trojmesačný tender a očakávania sú, že bude rozdelených až 210 miliárd Eur. Pred tým, ako sa budú peniaze rozdávať však musia jednotlivé banky prejsť testom. Podľa zdroja Reuters bude v druhom kole viac ako 100 európskych bánk preskúmaných v stresových testoch, aby sa zistilo, či a ako dokážu odolávať šokom vo finančnom systéme. Investori sa však boja: krehký bankový sektor by mohol ešte viac priťažiť globálnemu rastu.

related story (sgx17736): http://www.france24.com/en/20100629-global-st! ocks-bank-fundi...

by Barbora Misakova for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.

G20 plány, plány... by Milota Sidorova

Posledný víkend sa niesol v znamení summitu G20 v kanadskom Toronte. Zatiaľ čo ulice boli zaplnené doteraz najväčším počtom protestujúcich (vyše desaťtisíc), dvadsiatka úradníkov a politikov vo vnútri rozhodovala o finančnej politike miliónov ľudí na najbližších pár mesiacov. Rozdiely sa v G20 však rozchádzali. Pokiaľ šlo o iniciatívu troch európskych krajín, ktoré sa domáhali globálnej finančnej a bankérskej dane, Nemecko, Francúzsko a Veľká Británia jednoducho nena&! #353;li najmenšiu podporu pre tento plán. Zdanenie finančného sektora by mali krajiny zaviesť nanajvýš na národnej úrovni, a napriek tomu, že si trojka za svojou predstavou stále stojí, zároveň sa obáva, že by zdanenie obmedzilo konkurencieschopnosť vlastných bánk. Ide najmä o Veľkú Britániu, kde sa sústreďuje viac ako 75 percent všetkých európskych finančných služieb.Nemecká kancelárka Angela Merkelová otvorene priznala, že sa im pre tento návrh nepodarilo získať žiadnu podporu. Americký minister financií Timothy Geithner v predošlých dňoch “oznámil” svetu, že sa krajiny v budúcnosti nebudú môcť spoliehať na pomoc a krytie americkou ekonomikou. Krajiny by mali predovšetkým rozvíjať vlastn&#! 253; ekonomický rast a obmedziť závislosť ! vlastn&# 233;ho exportu do Spojených štátov. Nuž ktovie, čo tým pán Geither myslel v prípade Číny, ktorá nielenže je najväčším americkým exportérom, ale stala sa svetovou výrobnou manufaktúrou. Čína nie je len krajne závislá na exporte, ale ide o obojstranný vzťah – zvyšok sveta je momentálne nastavený na čínsky export. Čínsky výpadok by spôsobil svetový kolaps.G20 tiež prejednávala európsku krízu a plány na jej prekonanie – niekoľko účastníkov sa dovolávalo ostrého skrátenia národných rozpočtov – čo však horšie prijímali zástupcovia rozvojových krajín (napr. Brazília). Rozpočtové obmedzenia by mali byť hlboké, avšak nemali by obmedziť ekonomick&! #253; rast. Šetriť, ale neobmedziť ekonomiku. To bola asi jediná spoločná téma summitu. Opodstatnenosť zvyšovania za každú cenu, dôsledky šetrenia a zvyšovania v realite, ale aj to ako to dosiahnúť, na tom sa G20 nezhodla.

related story (sgx17706): http://www.france24.com/en/20100627-g20-summit-washington-ur...

by Milota Sidorova for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through pro! prietary interface coupled with free phone calls. Cantell TV i! s commit ted to delivering infinite choices to your world of entertainment at the tip of your fingers.

G20 talks and plans by Milota Sidorova

Weekend was marked by G20 meeting in Toronto. While streets were fully occupied by ten thousands of people demanding their voice, twenty representatives of the world's biggest economies handled steps leading into economy easement inside. The ideas, however were of a different kind. Generally, the proposal of financial and bank levy came to the program, but three European countries (Germany, France and England) didn't find any support from the group. Imposing a bank tax will be probably strictly national manner. Britain, however fears this step would inhibit their banks, because three quarters of financial services are cumulated in British Isles.German Chancellour Angela Mer! kel accepted the proposal neither meet any favorable environment nor the back-up from any other country.Earlier that week U.S. Secretary Timothy Geithner “warned” world countries to be less independent on U.S. spending and help in case of crisis. Countries should be stable and create their own strategy not built on U.S. economy, however, one doesn't know what think in case of China that is the biggest, yet unchangeable exporter not only for U.S., but for the rest of the world. One doesn't speak of one-sided dependency, but China becoming the world's manufacturer attracts most, if not all the countries in collateral dependency. And to be precise, one doesn't talk about people or living standard of the country, but investors and economy markers.G20 also focused on European euro crisis and the plans to overcome it. More representatives called for cutting national budgets in a way that wouldn't hurt economy growth. That was the major tune of whole summit – to ! do anything, but to keep economies growing. For how long and w! hat way, that became a questionable mystery...

related story (sgx17702): http://www.france24.com/en/20100627-g20-summit-washington-ur...

by Milota Sidorova for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.

UK is gambling by Barbora Misakova

The whole human race without exception has one characteristic in common – greediness. We want all our grandiose plans and luxury ideals to be done for free, with no sacrifices. But that is not possible. So why are we still expecting miracles especially in the spheres where they will never happen? United Kingdom needs a miracle. And there is probably only one person living in the UK who realized the truth, and that is: they get nothing without losing something else. British Chancellor George Osborne proposed cuts in public spending and even though everyone agrees something had to be done, these cuts are still considered to be unprecedented. Osborne’s “blood! bath budget” requires massive spending cuts and some very significant tax hikes in order to eradicate UK’s crippling deficit (what represents 10 percent of GDP). The mathematics is clear: 23 percent of the savings will come through tax increases and the rest of the savings will come from harsh cuts in public spending. Simon Jenkins called Osborne’s budget a gamble. He continued in his warnings when he said: “Expecting the public sector to spend a quarter less by 2015 without jeopardizing the overall prosperity of the country requires and impressive leap of faith in the recuperative powers of the private sector – for which there is little evidence outside the much-abused financial sector.” Cuts worth 11 billion pounds are called “a Dickensian move” and everyone is thinking of the worst. Columnist Keving McGuire wrote about British Chancellor about a man who is treating Britain as a laboratory to re-test failed right-wing econom! ics. Not everyone, however, is convinced that cuts in public s! pending are a recipe for disaster and some international observers hope the Osborne gamble will work. And I do too.

related story (sgx17678): http://www.france24.com/en/20100623-deficit-versus-growth-ch...

by Barbora Misakova for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.

Great Britain introduces the tighest budget in 25 years. by Milota Sidorova

That moment British voters favorized Conservatives it was perfectly clear there would be major cuts in national budget. Now, after just few weeks George Osborne presents the tighest budget in past 25 years. Although it was expectable, the cuts would be deep. It will hit public and financial sector, by reducing and freezing benefits and payments and imposing new taxes, including bank taxes. Germany, France and Great Britain backed proposed banking tax last week during Brussel's meeting. Osborne want the new levy to come into force in 2011. Banks should derive 2 billion pounds per year. Cuts in government organizations will increase up to 25 percent. Public sector workers sho! uld have their payments frozen for next two years. Cuts will even hit Queen Elisabeth who has already accepted frozen payments during next period. What seems to be quite interesting is no tax increase on alcohol, fuel and tobacco. The budget will stop children benefits for three years and total welfare cut will assume 11 billion pounds. Housing benefits will be limited such as conditions for work disability.Government wants to push hard for increasing retire age up to 66 years and working people would have to tax 20 percent of their salary by January 2011. Politicians however, want to solve unemployment that should reach its maximum 8.1 percent this year. The long-term projection suggests it should fail down to 6.1 percent in 2015. The whole GDP is expected to slow down from 2.6 percent to 2.3 percent next year, but is should gradually rise back to 2.7 percent between 2014 and 2015.

related story (sgx17667): http://www.france24.com/en/20100622-uk-finance-minister-deli...

by Milota Sidorova for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.

European or global financial tax? by Milota Sidorova

27 EU financial ministers met in Brussels on Thursday to discuss the system of united global governance. Shortly the subject of discussion was the passage of global tax system in financial sector that should prevent the future crisis and create debt reserve for worse times. However, even after a day of conclusions the final report was short of details. The case would oblige to any country of EU and create partly unified economic background and this is the case higly unreal, since countries of EU are more than distant and different in their economy policies.As expected British representatives expressed strong disagreement, saying the tax system should be a task of national s! ouveregnity. In British case it is even more understandable, since the new government was more American than European friendly and it is more than significant it doesn't want to protect current and future troubles of euro. Britain also covers 80 percent of European financial services, so the taxation would be kind of asymetric through European space. Also talks on passing global tax system were on program – but here the proposal got even sharper critics. Americans for instance claimed they were not willing to pay for “the mess, they didn't create”. Luxembourg Prime Minister Jean-Claude Juncker said he didn't believed the agreement would come at the level of G20. Also European Commission chief Jose Manuel Barroso admitted the idea went dry due “enormous resistance” as well as “extremely difficulties” while imposing this matter on global level. On the contrary France, Germany and Italy backed the idea within European framework.
related story (sgx17635): http://www.france24.com/en/20100617-spainish-prime-minister-...

by Milota Sidorova for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.

De mauvaises nouvelles pour la Grèce by Claudia Sonea

Est-ce que l'Union européenne survivra-t-elle ? C'est le souci principal de nos jours dû à la crise d'endettement qui frappent la zone euro. Après 17 ans depuis sa fondation, le futur de l'union économique et politique est remis en cause à mesure que le degré d'instabilité augmente de plus en plus. La Grèce, un des pays croissants les plus rapidement dans la zone euro, était la première à se révolter et demander l'aide car la dette publique a atteint les limites alarmantes que le gouvernement actuel ne pouvait pas manier. Afin d'aider les membres d'état à surmonter la crise ! de dette, l'UE et le FMI (Fonds monétaire international) ont décidé de présenter un plan de renflouement semblable à celui adopté par les Etats-Unis pendant la récession. Ainsi la Grèce a reçu un paquet d'aide de 14.5 milliards euros ayant accorder de retour avec les mesures d'austérité qui aideraient le pays de réduire la dette. Les mesures ont été principalement orientées sur les Grecs qui ont déjà lutté avec des questions financières et ont eu à peine de quoi vivre de leur salaire. Il n'est pas donc étonnant du tout que les Grecs ont rejeté les mesures et le pays est déchiré par des protestations. Comme si la situation n'était pas assez mauvaise, Moody', une agence américaine d'estimation de crédit, vient de déclasser une estimation souveraine d'A3 à Ba1 pour la Grèce deux mois après Standard ! & Poor's. D'autres agences internationales principales d'estim! ation on t également menacé de diminuer l'estimation souveraine au statut pauvre si le pays ne montre pas une amélioration. La descente signifie que quelques investisseurs ne pourront pas acheter la dette grecque et les coûts de crédit seront beaucoup plus hauts. Prenant en compte qu'Athènes prépare actuellement une campagne pour attirer des investisseurs de sorte que l'économie du pays soit remise, le krach est l'une des plus mauvaises choses qui pourraient se produire. Restez connecté pour voir ce qui se produira après .....

related story (sgx17648): http://www.france24.com/en/20100614-moody-greece-downgraded-...

by Claudia Sonea for Can! tell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.

A new EU meeting by Claudia Sonea

The member states of the European Union are going through a serious crisis caused by excessive government borrowing. Many countries like Greece, Portugal or Romania have borrowed money excessively due to a bad administration that spent the budget on futile investments, on their diplomatic trips, cars and in their own interest in some cases. Speculations that the debt crisis will spread in the entire union have led to the depreciation of the euro and the investors were scared off. Last month, countries like United Kingdom, Italy, Spain or France presented to the public the measures that will be taken ! to reduce budget deficit and avoid getting in the same situation as Greece. Most obvious, the incompetence of the politicians is paid by those who have to work really hard to secure a house and food for their families. Salaries and pensions have received the first hit and several other austerity measures have been taken. Yet, the media and the investors have little confidence that the reform plans will actually save countries from a bankruptcy like the one in Greece. All the speculations and concerns over the stability of the EU have been fueled by the bailout packages set by the EU and the IMF and by the meetings of the union leaders in order to find solutions not only to save the countries, but also to prevent such situations from happening again. On Thursday, EU leaders are meeting again in Brussels to analyze the causes of the debt crisis, to come up with tougher sanctions for the countries that surpass the annual limits of the expe! nses and to show the world that the union has a cross-border e! conomic government. EU efforts to regain investors’ trust are shadowed by Britain’s reluctance to adopt the measures taken by the union, as well as its refusal to adopt the euro as currency. Many hope that following the meeting the Brits will show more openness to the solutions that would assure the future of the country. Don’t go away, this most definitely has a follow up….

related story (sgx17617): http://www.france24.com/en/20100616-eu-leaders-deny-spain-em...

by Claudia Sonea for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupl! ed with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.

Moody's: B1 for Greece by Milota Sidorova

This has been the loud whist of what everybody in the financial world was thinking – the huge EU and IMF loan was not going to save Greece. Although the country has taken so called “tough” package to lower the debt, there were not many implications it was going to work it out. Such as well there have been doubts whether it was using effectively euro infusion. The first and important signs of disbelief came out past days, after U.S.- based rating agency Moody lowered down Greek debt rating. The country moved from A3 into the “junk” Ba1 status. This position is extremely unwilling, because it prevents investors from buying the country's debt und! er the terms of their investment mandate. That may lead into higher borrowing costs for Athens if it will be seeking for cash.But this rate switch was certainly not a cup of tea of EU's top economic commissioner Olli Rehn who sharply criticized Moody's step calling it “surprising and unfortunate”. According to Rehn it was the wrong timing, because all the Europe and some others world organizations were seeking solution for Greece. The country has taken the first part of EU loan of 14.5 billion euros.Moody's said the uncertainty about Greece plans made them believe the country's creditworthiness was consistent with Ba1 rating, a rating that incorporated a greater albeit, low risk of default. Athens as well as Rehn showed swift disagreement with rating changement. According to Greece representatives, the country has taken important steps, despite of major protests all around the country for past months.

related story (sgx17591): http://www.france24.com/en/20100615-eu-commissioner-attacks-...

by Milota Sidorova for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.

UBS handling clients' data to U.S. court by Milota Sidorova

Handling over secrecy of bank clients or desperate seeking for impliactions of tax evasion and fight for authority – this is the case between Switzerland's biggest bank UBS and U.S. court. The bank refused to submit sensible information about 52,000 U.S. clients to the supreme court, hiding behind the bar of privacy. UBS however agreed to pay U.S. authorities $780 million which according some observers provided implication for deeper frauds and shocked Switzeraland's establishment later past week and Swiss Financial Markets Supervisory soon followed by ordering the Bank to submit account details of 250-300 clients to the U.S. authorities. The case however, has had als! o political strings – Swiss dominant centre-right parties stood behind the secrecy law, but Social and Green parliament members suggested they would vote for legislative implication on the bank. The passage came out yesterday in lower Parliamentary chamber. 81 votes to 61 meant yes for the U.S. plan to get the details from the bank. According legal steps taken back in January UBS was supposed to submit of 4,450 clients suspected of tax evasion. The current number however, would be lower. Banking Secrecy shouldn't be the reason to cover tax fraudsters. Maria Assimakopoulou European Commission spokeswoman said EU approved “lift of secrecy” if there was such request for assistance.For now, it seems the bank has capitulated. This step brings along consequences – the image of Swiss biggest bank and its captiousness has been shadowed. Fabuled Swiss independency has been touched and even chief executive Marcel Rohner has resigned and would be replaced by Cr! edit Suisse CEO Oswald Greubel.

related story (s! gx17596) : http://www.france24.com/en/20100615-swiss-lower-house-parlia...

by Milota Sidorova for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.

Bank of Japan to boost the economy by massive loan scheme by Zuzana Zelenakova

In an attempt “to rid Japan's economy of deflation and achieve sustainable growth with price stability" Bank of Japan announced its plans to offer about 33 billion dollar in a temporary low-interest loan scheme. As the bank said the measure "aims to act as a catalyst for financial institutions in making efforts toward strengthening the foundations for economic growth." The bank kept its lending rates low at 0.10 percent Tuesday as it announced the details of the loan scheme first voiced in May. The pressure on the central bank of Japan based in Tokyo has been rising for quite some time as the government put its main focus on restoring the country´s disrupted eco! nomy and cutting massive public debt, which currently represents about 200 percent of gross domestic product. The main idea of the loan schemed is to make low interest funds available to private banks and, subsequently, these will lend to companies. "It's a drastic step for the bank," says economist at Dawa Institute of Research Maiko Noguchi. "There are only a limited number of companies banks are willing to lend money to. And such companies have enough funds at hand thanks to growing exports. It's unclear if the scheme will work." The bank announced that it would start providing funds by the end of August and would primarily focus on sectors such as healthcare, tourism and environment. "It's questionable whether it is appropriate for the central bank to offer lending to 'growth sectors' and outdated to think that the government or the public sector can predict which sectors they are," said economist at NLI Research Institute Taro Saito. Japan has been struggling with the ! phenomenon of deflation for the past two decades, mainly due t! o low un employment rate that Japan had been maintaining and low GDP growth rate at the same time. The combination of these two caused the annual household income decrease gradually.

related story (sgx17597): http://www.france24.com/en/20100615-bank-japan-unveils-33-bi...

by Zuzana Zelenakova for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of! entertainment at the tip of your fingers.

Bad News for Greece by Claudia Sonea

Will the European Union last? This is the main concern nowadays due to the debt crisis that hit the Eurozone. After 17 years since its foundation, the future of the economic and politic union is questioned as the degree of instability increases more and more. Greece, one of the fastest growing countries in the eurozone, was the first to step up and ask for help as the public debt reached alarming peaks that the current government was unable to handle. In a bid to help the state members overcome the debt crisis, the EU and the IMF (International Monetary Fund) decided to introduce a bailout plan similar to that adopted by the ! USA during the recession. Thus Greece received a 14.5 billion euros package aid agreeing in return with the austerity measures that would help the country reduce the debt. The measures were mainly directed towards the Greeks who were already struggling with money issues and had a hard time to live from the salary. It is, therefore, not at all surprising that the Greeks rejected the measures and the country is thorn apart by protests. As the situation wasn’t worse enough, Moody’s, an American credit-rating agency, just downgraded sovereign rating from A3 to Ba1 for Greece two months after Standard & Poor's. Other major international rating agencies also threatened to reduce the sovereign rating to junk status if the country doesn’t show an improvement. The downgrade means that some investors will be unable to buy Greek debt and the borrowing costs will be much higher. Taking into consideration that Athens is currently undergoing a ! campaign of attracting investors to rehabilitate the country&#! 8217;s e conomy, the downgrade is one of the worse things that could happen. Stay connected to see what will happen next…..

related story (sgx17575): http://www.france24.com/en/20100614-moody-greece-downgraded-...

by Claudia Sonea for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.

Americans try to convince stubborn Chinese to revalue yuan by Zivka Deleva

United Stated officials criticize their biggest enemy’s financial politics, due to the tough attitude that Beijing shows lately. The Americans, through the US Treasury Secretary Timothy Geithner recommend China to revalue its currency, because it creates troubles not only to its people but worldwide. OK, once again, Americans are not concerned about “world peace”, but about their wellness. Another very important fact is the one that the elections are coming, and everybody is trying to be louder than the other in the Congress. They all agree, no matter on which party they belong, that they should force China’s government to think through this issue. ! "America can no longer afford to be complacent. We no longer have the luxury of pursuing failed approaches. We must rethink the US-China economic relationship. We must act, not just talk," said Democratic Senator Max Baucus. This invasive Chinese policy has provoked a big trade deficit for the US. Geithner had to listen to critics counter him, that he should have warned them on this important question earlier, so the pressure would have been done on time and without such an aftermath for the States. China always plays smart. Their public secret is that their goal is to gain an unfair advantage in international market. According to the Treasury first man, everything is not lost. He expects that later this month, at the summit of the Group of 20 in Toronto, the international influence would put some tension to China. The Republicans are quite nervous on this question. They think that it is quite the time to act and not only talk. The last time in the new history that Ch! ina was a little bit flexible, was in 2005, again after US inf! luence. We should wait and see, what will happen this time.

by Zivka Deleva for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.

Kerviel blames his bosses of tolerating his excesses by Magdalena Rosova

On the second day of the Jerome Kerviel's trial, the former head of investment division SocGen, Jean-Pierre Mustier, said that the trader took unreal risk which caused the company's loss of 4.9 billion euros. The trial over billions in losses takes place in Paris and for many it is the symbol of the banking excesses driven by the financial crisis. Kerviel worked on the “Delta One” trading desk in Socialite Generale, which is one of the biggest banks in Europe. Mustier told the court that he did not understand why Kerviel had done it and he even had not apologized. Societe Generale discovered the fraud in January 2008 and immediately rushed to stop Kerviel's acti! vities. It seems Kerviel took risk of 50 billion euros and the bank had difficulties to unravel 50 billion euros of unauthorized trades. The bank is now suffering the heavy losses. Kerviel is desperately trying to protect himself saying that his bosses had known about his activities but had not said anything as long as earnings had been rolling in. Kerviel, 33, said it was the fault of the bank which had tolerated his excess. He admitted that he often passed trading limits and logged fake transactions. Kerviel said that exceeding of limits had been a common practice in the bank and no one had ever been reprimanded. After the Kerviel's scandal revealed, the SocGen executive was forced by public to step down and last year he altogether left the bank. Kerviel faces a sentence of five years in prison and fine of 375,000 euro.

related story (sgx17537): http://www.businessweek.com/news/! 2010-06- 10/socgen-disputes-...

by Magdalena Rosova for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.

G20 to replace G8 by Claudia Sonea

These days the future of the world is being planned by a group of 12 finance ministers and central bank governors. Some would argue that the G-20 is solely a forum for cooperation and consultation and that it should not be entitled to take decision regarding the international financial system because the members are not chosen on a merit-base. In fact, the G20 will replace the G8, thus becoming the main economic council of wealthy nations with a great influence on the global financial system. Indeed, the G20 is raising many questions related to the legitimacy of establishing rules and restrictions. The fact! that the meetings are taking place in private without any access from the public further deepens worries about possible biased decisions. For instance, this week the G20 countries is debating on matters such as a global bank tax, tougher policies for the banks, China's currency exchange at a meeting held in South Korea. There is little information on what the ministers actually discussed and the arguments used for/against taking certain measures like a global bank tax. The 20 finance ministers and central bank governors will release a statement at the end of this week with a summary of the subjects debated. Up to now, the word is on the streets that the G20 ruled out the idea of a global bank tax and that the determinant factor in applying restrictions is whether the countries registered bank bailouts following the financial crisis of 2007–2010. Stay connected and find out what they have threaded on these days and how they will af! fect us.

related story (sgx17508): http://www.france24.com/en/20100605-G20-bank-bailouts-public...

by Claudia Sonea for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.

Good year for Ryanair by Zivka Deleva

Ryanair managers have reasons to scrub the hands! They have a very big reason to vaunt! The incomes have rose, the number of the passangers has been increased and the fuel costs fell. Comparing to last year, when the sum of the net loss was 169.2 million euros, this year, the company has earned 305.3 million euros. The number of the passengers increased for 14 percent, with 67 million travellers and the revenues grew two percent. That really is something! For the first time in 13 years of working, Ryanair paid the first dividend ever.   Big influence on the flying crisis was intensified by the Iceland volcano that erupted in April, when the European airspace was blocke! d for six days and about 100.000 flights were cancelled. The next month, another ash wave stopped the air traffic and left Ireland's airports empty. Due to the volcano ash, Ryanair lost £40 million. One of the biggest factors that influenced on the good working of this company, nevertheless is the dropping of the fuel cost.   "We can be proud of delivering a 200-percent increase in profits and traffic growth during a global recession -- when many of our competitors have announced losses or cutbacks, while more have gone bankrupt," said Chief Executive Michael O'Leary.  About 9.400 Ryanair flights were cancelled in the volcano crises.

by Zivka Deleva for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting co! upled with telecommunications, allowing people to easily contr! ol, view , upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.

Dobra godina za Rajaner by Zivka Deleva

Menadzerite na "Rajaner" imaat pričini da gi trijat racete! Tie imaat golema pričina da si se falat! Prihodite porasnaa, brojot na patnicite porasna, a trošocite za nafta opadnaa. Vo sporedba so minatata godina, koga sumata na neto zaguba iznesuvaše 169.2 milion evra, ovaa godina, kompanijata zaraboti 305.3 milioni evra. Brojot na patnicite se zgolemil za 14 procenti, so 67 milioni patnici i prhodite porasnaa za dva procenti. Toa e navistina nešto golemo! Po prv pat vo 13 godini od dejstuvvanje, "Rajaner" isplati dividenda. Golemo vlijanie na letačkata kriza imaše erupcijata na islandskiot vulkan od aprul, koga evropskiot vozdušen pr! ostor beše blokiran šest dena i okolu 100.000 letovi bea otkažani. Naredniot mesec, nov bran so prašina go zapre vozdušniot soobrakjaj i gi ostavi prazni aerodromite vo Irska. Poradi vulkanskata prašina, "Rajaner" izgubi 40 milioni funti. Eden od najgolemite faktori što vlijaea na dobroto rabotenje na kompanijata, sepak e pagjanjeto na trošocite za gorivo. "Možeme da bideme gordi na zgolemuvanjeto na proftitot za 200 procenti i rast na soobrakjajot vo vreme na globalna recesija - koga mnogu od našite konkurenti objavuvaa zagubi ili kratenja, dodeka mnogu bankrotira" - reče izvršniot direktor Majkl O'Liri. Okolu 9400 letovi na "Rajaner" bea otkažani poradi vulkanskata kriza.

by Zivka Deleva for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provi! der of d igital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.