The euro-zone economy:Frost in spring

The Economist

The recovery may be warming but inflation is cooling

Apr 5th 2014 | From the print edition

VIEWED from one perspective, the euro area is a minor miracle. Instead of collapsing in a heap, as seemed possible two years ago, the currency club is not just intact but has a new member, Latvia, which joined in January. An economic recovery has been under way since last spring and appears to be strengthening. But seen from another standpoint the euro zone is an accident waiting to happen. As inflation slips ever lower, a slide into Japanese-style deflation looks increasingly likely. That would raise an already onerous debt burden in real terms and pull down growth.

Growing service sector won't avert China slowdown

BY ADAM ROSE AND XIAOYI SHAO

BEIJING Thu Apr 3, 2014 2:40am EDT

(Reuters) - A robust services sector will not stop China's economy from slowing into the middle of the year, analysts said after modest government stimulus was seen as a signal authorities want to steady growth to keep their reform drive on track.

Two surveys on Thursday showing growth in the service sector offered some relief after a run of disappointing data this year, but did little to alter the view that the world's second-largest economy has lost more momentum than expected in 2014.

Malaysia releases transcript of Flight 370’s communications between pilots and controllers

By Simon Denyer, Published: April 1 E-mail the writer

BEIJING — Malaysia on Tuesday released the full transcript of radio communications between the pilots on Flight 370 and air traffic controllers but reiterated that there was no indication of anything abnormal before the plane vanished last month.

The government said international investigators and Malaysian authorities still think the plane was deliberately flown off-course in the early hours of March 8 with 239 people on board.

But the possibility that the mystery of the missing Malaysia Airlines plane will never be unraveled appears to be growing, as the search in the southern reaches of the Indian Ocean continues to come up blank.

Σε ποια Ελλάδα θα «ξαναγυρίσουμε»;

ΠΟΛΙΤΙΚΗ 02.04.2014 : 12:01

Π Μανδραβέλης

Καθημερινή

Και για να ’χουμε το καλό ρώτημα: όταν ο κ. Ευάγγελος Βενιζέλος λέει ότι «η Ελλάδα μπορεί να γίνει και θα ξαναγίνει μια κανονική, ισότιμη, κυρίαρχη ευρωπαϊκή χώρα» (18.3.2014), τι ακριβώς εννοεί; Εχει δίκιο ο ΣΥΡΙΖΑ όταν λέει ότι η χώρα είναι «αποικία χρέους» και συνεπώς πρέπει να ξαναγίνει «ισότιμη και κυρίαρχη»; Ή εν τη ρύμη του ακατάσχετου λόγου του (που δεν προσέχει πλέον κανείς) λέμε και κανένα ΣΥΡΙΖΑίικο παραπάνω; Κι όταν λέει, «να ξαναγίνουμε κανονική ευρωπαϊκή χώρα», πώς ακριβώς εννοεί το «ξανά»; Με όρους του 2009, όταν το έλλειμμα έφτασε στα ουράνια και στέλναμε ψεύτικα στοιχεία στη Eurostat; Με αθρόες προσλήψεις ημετέρων στο μετρό, και μαϊμού Stage; Διότι αυτό το «ξανά» προϋποθέτει ότι η προ του μνημονίου Ελλάδα ήταν κανονική ευρωπαϊκή χώρα, που ξόδευε με φειδώ τα χρήματα των φορολογουμένων, οι κυβερνήσεις δεν έκλειναν νύχτα τη Βουλή, επικρατούσαν συνθήκες ανταγωνισμού στην αγορά και στις δημόσιες προμήθειες και στις δημόσιες υπηρεσίες όλοι σχίζονταν για να εξυπηρετήσουν τους πολίτες.

Μάθετε τι λεφτά έχουμε δώσει για τις τράπεζες

Τετάρτη, 12 Φεβρουαρίου 2014 - 00:01

Πηγή:www.capital.gr

Πόσα χρήματα έχουμε δανειστεί για να σώσουμε τις τράπεζες; Μήπως 230 δισεκατομμύρια ευρώ όπως λένε διάφοροι ευαγγελιστές του αντιμνημονίου; Είναι γνωστό ότι το χρέος μας φτάνει τα 300. Σύμφωνα με τη λογική τους, το πραγματικό χρέος είναι 70 δισεκατομμύρια ευρώ, αφού τα 230 τα δώσαμε για τους τρισκατάρατους τραπεζίτες. Άρα; Κρεμάλα στους προδότες! Θάνατος στο μνημόνιο! Πριν αφανίσουμε όμως τη μισή Αθήνα, ας κάνουμε τη χάρη στους εαυτούς μας να αναζητήσουμε την αλήθεια των αριθμών στους ισολογισμούς των τραπεζών!

Πρόγραμμα δόσεων προαπαιτούμενων

Από την εφημερίδα ΤΟ ΒΗΜΑ

(πλήρες άρθρο http://www.tovima.gr/finance/article/?aid=582404)

Σημειώνεται, ότι, σύμφωνα με πληροφορίες, η δόση των 8,3 δις. ευρώ από την Ευρώπη, θα κατανέμεται σε τρεις υποδόσεις: Μια ύψους 6,3 δις. ευρώ τον Απρίλιο, μια ύψους 1 δις. ευρώ τον Ιούνιο και μία ύψους 1 δις. ευρώ τον Ιούλιο.

Οι προαπαιτούμενες δράσεις για την εκταμίευση των συγκεκριμένων ποσών, έχουν ως εξής:

Δημόσιο χρέος: «Μαξιλάρι» 18 δισ. από τράπεζες!

των Αριστείδη Μπιτζένη(*) και Ιωάννη Μακέδου(**)

Δημοσιεύθηκε: 07:54 - 08/01/14

Εφημερίδα Euro2day

Η ανακεφαλαιοποίηση των συστημικών τραπεζών και η ελπίδα για τουλάχιστον 18 δισ. ευρώ απομείωση του δημόσιου χρέους μέσα από την πώληση των warrants. Αναλυτικοί πίνακες.

Το Ταμείο Χρηματοπιστωτικής Σταθερότητας ιδρύθηκε τον Ιούλιο του 2010, σύμφωνα με τον Νόμο 3864/2010, ως νομικό πρόσωπο ιδιωτικού δικαίου, που όμως δεν ανήκει στον δημόσιο τομέα, διαθέτοντας διοικητική και οικονομική αυτοτέλεια. Απώτερος στόχος του Ταμείου κατά την ίδρυσή του ήταν η διατήρηση της σταθερότητας του ελληνικού τραπεζικού συστήματος μέσω της κεφαλαιακής επάρκειας των τραπεζών. Η Επιτροπή Ελέγχου εποπτεύει την Υπηρεσία Ελέγχου, συγκροτείται µε απόφαση του Γενικού Συμβουλίου και αποτελείται από δύο μη εκτελεστικά µέλη του Γενικού Συμβουλίου και έναν εξωτερικό ειδικό εγνωσμένου κύρους και πείρας σε θέµατα ελεγκτικής λογιστικής.

Dijsselbloem Says Further Greek Aid May Include Extending Loans

By Corina Ruhe  Mar 31, 2014 12:42 AM GMT+0300

Bloomberg

Dutch Finance Minister Jeroen Dijsselbloem said Greece’s international creditors will decide after the summer on possible further aid, including extending the maturity of existing loans.

Greece’s economic situation is improving, and this has an impact on calculations of the country’s debt sustainability, Dijsselbloem said in an interview aboard a Dutch government airplane en route to Cyprus late yesterday.

Exclusive: China seizes $14.5 billion assets from family, associates of ex-security chief: sources

BY BENJAMIN KANG LIM AND BEN BLANCHARD

BEIJING Sun Mar 30, 2014 8:31am EDT

(Reuters) - Chinese authorities have seized assets worth at least 90 billion yuan ($14.5 billion) from family members and associates of retired domestic security tsar Zhou Yongkang, who is at the centre of China's biggest corruption scandal in more than six decades, two sources said.

More than 300 of Zhou's relatives, political allies, proteges and staff have also been taken into custody or questioned in the past four months, the sources, who have been briefed on the investigation, told Reuters.

Greece passes reform bill, government majority shrinks to two seats

BY ANGELIKI KOUTANTOU AND RENEE MALTEZOU

ATHENS Sun Mar 30, 2014 8:03pm EDT

(Reuters) - Greece approved on Monday a contentious reform bill to secure bailout aid but the government was forced to expel a dissenting lawmaker, reducing its majority in parliament to just two seats.

A total of 152 lawmakers backed the bill, which incorporates into Greek law hundreds of reform measures Athens agreed earlier this month with the European Union and the International Monetary Fund after more than six months of tough negotiations.

Kerry, Lavrov hold talks on de-escalating Ukraine crisis

BY LESLEY WROUGHTON AND ALEXEI ANISHCHUK

PARIS/MOSCOW Sun Mar 30, 2014 7:22pm EDT

(Reuters) - U.S. Secretary of State John Kerry and his Russian counterpart, Sergei Lavrov, discussed ways to defuse the Ukraine crisis during talks in Paris on Sunday in which Kerry made clear Washington still considered Russian actions in Crimea "illegal and illegitimate."

Yasou: Greece Is Pulling Off an Amazing Recovery

Bloomberg Businessweek

This chart tells a remarkable story. Just two years ago, Greece was on the ropes. The yield on the Greek government’s 10-year debt hit a punishing and unsustainable 30 percent. Today the yield is less than 7 percent—a sign that investors are increasingly confident of the nation’s ability to pay its debts. Rarely has a country repaired its image with creditors so quickly. The world’s attention has moved on since the Greek debt crisis (a lot has happened since), but it’s worth stopping for a moment to look at what went right, as well as the huge challenges that remain.

How to deal with Russia without reigniting a full-fledged Cold War psychology

By George P. Shultz and Sam Nunn, Published: March 27

George P. Shultz, a distinguished fellow at Stanford University’s Hoover Institution, was secretary of state from 1982 to 1989. Sam Nunn, a former U.S. senator from Georgia and chairman of the Armed Services Committee from 1987 to 1995, is co-chairman and CEO of the Nuclear Threat Initiative.

The Washington Post

Russia has taken over Crimea and threatens further aggression. Now is the time to act but also to think strategically. What basic strategic approach should the United States and its allies take, and how can that approach be implemented over time so that the tactical moves benefit our long-term interests? Is it possible to avoid the reemergence of a full-fledged Cold War psychology, which is encouraged by Russia developing an “I can get away with it” mentality?

Euro zone not preparing third Greek bailout so far: official

BY JAN STRUPCZEWSKI AND MARTIN SANTA

BRUSSELS Thu Mar 27, 2014 6:45pm EDT

(Reuters) - The euro zone is not making any preparations for a third bailout for Greece and will consider it only if expressly asked by Athens, which has not happened so far, a senior euro zone official said on Thursday.

Instead, the euro zone is now focusing on the timing and size of disbursements of badly delayed tranches of loans that have already been promised under the first two rescue packages, the official, directly involved in the Greek bailouts said.

Greece should get more aid from IMF after board review

WASHINGTON, March 27 Thu Mar 27, 2014 10:41am EDT

(Reuters) - The International Monetary Fund is likely to give Greece a bigger aid disbursement than usual after the board reviews the euro zone country's bailout program, likely in May, a Fund spokesman said on Thursday.

‘Ukraine’ or ‘the Ukraine’? It’s more controversial than you think.

BY KATIE ZEZIMA

March 25 at 2:40 pm

The Washington Post

When speaking about Ukraine, three seemingly innocuous letters can make a huge impact: the.

In recent weeks, politicians including President Obama and Mitt Romney have used the construction "the Ukraine" while speaking about that country and Russia's recent annexation of Crimea.

"And unfortunately, not having anticipated Russia's intentions, the president wasn't able to shape the kinds of events that may have been able to prevent the kinds of circumstances that you're seeing in the Ukraine," Romney said on CBS's "Face the Nation" Sunday.

Malaysian Leader Says Flight 370 Ended in Indian Ocean

By THOMAS FULLER and CHRIS BUCKLEYMARCH 24, 2014
The New York Times

PEARCE AIR FORCE BASE, Australia — Malaysia’s prime minister said Monday that further analysis of satellite data confirmed that the missing Malaysian airliner went down in the southern Indian Ocean with its passengers and crew. The announcement narrowed the search area but left many questions unanswered about why it flew to such a remote part of the world.

Experts had previously held out the possibility that the jet could have flown north instead, toward Central Asia, but the new data showed that it could have gone only south, said the prime minister, Najib Razak.

Acknowledging defeat, Ukraine pulls troops from Crimea

BY ALEKSANDAR VASOVIC AND GABRIELA BACZYNSKA

FEODOSIA/SIMFEROPOL, Ukraine Mon Mar 24, 2014 11:48am EDT

(Reuters) - Ukrainian troops and their families began evacuating from Crimea on Monday, as Kiev effectively acknowledged defeat by Russian forces who stormed one of the last of their remaining bases on the peninsula.

NATO says Russia has big force at Ukraine's border, worries over Transdniestria

BRUSSELS Sun Mar 23, 2014 7:25am EDT

(Reuters) - NATO's top military commander said on Sunday that Russia had a large force on Ukraine's eastern border and said he was worried it could pose a threat to Moldova's mainly Russian-speaking separatist Transdniestria region.

UPDATE 1-Greece's biggest bank turns to profit in 2013 on lower bad-loan provisions

Thu Mar 20, 2014 12:23pm EDT

Reuters

* National Bank posts net profit of 809 mln euros in 2013

* Bad-loan provisions drop 36 pct from previous year

* National reiterates it plans no equity offering to plug capital shortfall (Adds CEO comment, details)