Monday, November 30, 2009

Dubai has refused to give guarantees for the debts of Dubai World.

The Government of the Emirate of Dubai is not the guarantor of the debts of state fund Dubai World. This statement was made director of the Department of Finance Dubai Abdurahman Al Saleh (Abdulrahman Al Saleh) in an interview with state television channel, Dubai TV, reported Bloomberg. According to Al-Saleh, state fund would not receive funding under the state guarantee, as well as planned projects. Thus, the responsibility for the financial condition of the Fund are, first of all, investors. Debt Dubai World to investors is 59 billion dollars. Lenders fund are more than 70 international financial institutions, including banks Royal Bank of Scotland, HSBC Holdings, Barclays and others. Recall, 26 November Dubai appealed to investors with a request to postpone for six months payments on the obligations of Dubai World. After that, the world stock, commodity and currency markets panic, as investors viewed such a request as a default threshold of Dubai World, and possibly the beginning of the second wave of the crisis. November 28-29, the emirate's government held a series of meetings leading up to the UAE central bank announced its readiness to help Dubai. In particular, the central bank created a special program to provide liquidity.

EU to abolish visas for citizens of Macedonia, Montenegro and Serbia.

The European Union has abolished visas for citizens of Macedonia, Montenegro and Serbia. According to the EU statement released today, the decision to abolish visas with effect from 19 December 2009 Thus, the region with the EU visa regime is now maintained only for Albania and Bosnia, reports Associated Press. Citizens of the Federal Yugoslavia (Serbia, Montenegro, Croatia, Slovenia, Macedonia, Bosnia and Herzegovina) to attend the EU without visas until the collapse of the Federation in 1991 In the future, between those countries and the EU established a visa regime from the effects of which were first withdrawn Slovenia and Croatia.

Moody's retained a negative outlook for the Ukrainian banking system.

International rating agency Moody's has maintained a negative fundamental credit outlook for the Ukrainian banking sector. This is stated in a communication agency. This forecast reflects the precarious state of the fundamental credit quality of local banks in the medium term, as well as the ongoing economic and financial crisis. Experts Moody's, in particular, are concerned about declining capitalization and profitability, as a result of deterioration in asset quality and liquidity, because of declining confidence of depositors. The risks in banking activities and increasing political uncertainty and potential monetary instability. According to experts' forecasts Agency, within the next 12-18 months, changes in the Ukrainian banking system is not expected.

Prepares a list of 30 financial giants, who must make a will.

Council for financial stability (FSB), created the "big twenty" (G20) in the fight against the crisis, together with national regulators established a list of 30 major financial groups exposed to systemic risk. As the Financial Times citing well-informed persons in the list included 6 insurance companies (Axa, Aegon, Allianz, Aviva, Zurich and Swiss Re) and 24 banks from the UK, Europe, North America and Japan. The list was formed to monitor systemic risk, coordination and oversight in the case of new financial crises. These listed companies, as planned FSB, write the so-called last will (living will, a special kind of testament): their views about the liquidation in the event of another crisis. According to the publication, in the number of systemically important banks included: North America - Goldman Sachs, JP Morgan Chase, Morgan Stanley, Bank of America-Merrill Lynch, Royal Bank of Canada; United Kingdom - HSBC, Barclays, Royal Bank of Scotland, Standard Chartered; Europe - UBS, Credit Suisse, Societe General, BNP Paribas, Santander, BBVA, Unicredit, Banca Intesa, Deutsche Bank, ING; Japan - Mizuho, Sumitomo Mitsui, Nomura, mitsubishi UFJ.

TransMashHolding preparing a program for creating a new generation engine.

CJSC Transmashholding, which includes JSC "Kolomna factory" over the next three months, prepare a program to create a new generation of engines, said the head of the holding Andrew Bokarev at a meeting on the development of the company, which held in Kolomna, on Wednesday, Prime Minister Vladimir Putin of Russia . "Industrial diesel new generation is needed not only to us, it needs many industries, we understand how we are lagging behind ... We have had serious projects and relationships with relevant agencies, I think in the next three months will be understandable to the figures program which we can move on, "- said Bokarev. He expressed confidence that the factory good future. "Tough times always are - this is the economy", - added the head of the holding. Kolomna factory - one of the oldest and largest enterprises in transport engineering in Russia, is part of Transmashholding. The factory, founded in 1863, designs and manufactures passenger and freight locomotives, passenger locomotives, diesel engines and diesel generators for diesel locomotives, power plants, heavy trucks, ships.

Europe in debt from Gazprom .


Application of European companies to purchase gas from Gazprom for 10 billion cubic meters less than the amount specified in the contracts. Price not withdrawn gas is estimated at $ 2.5 billion, and Gazprom may seek to repay them, writes The Wall Street Journal. The Europeans point out that Ukraine, Russia company just the same duty European consumers this year are going to buy Russia's gas to 7% less than they are obliged under the contract. Now Gazprom may penalize buyers for $ 2.5 billion for the shortfall, which intends to do, reports The Wall Street Journal. However, Russia's gas holding will have to explain why Ukraine, a similar duty, he forgives. In the crisis had to be easy, even Russia's largest companies - gas monopoly Gazprom. Earlier this year the price of "blue fuel" have fallen off after the price of oil. In addition, the company had to reduce exports of its products. Industry in Europe during the global recession, slow down, and the need for "blue fuel" has declined. As a result, European energy companies this year bought a much less gas from Gazprom, which they were obliged under the terms of long-term contracts. Applications largest European consumers were at least 10 billion cubic meters, the newspaper The Wall Street Journal, citing a source close to Gazprom export ". It turns out that you select only 140 billion cubic meters instead of 150 billion cubic meters, ie 7% below the level of "take or pay". Price not withdrawn gas is estimated at $ 2.5 billion, and Gazprom intends to make their payment, the newspaper notes. However, the issue can be resolved so that European companies in the next year redeemed more gas than they should under the contract, said the source publication. Analysts at the same time note that the precedents when European buyers have to pay Gazprom for the shortfall, it was not. However, in Russia the company may have difficulty in "knocking out" the debt of European consumers. After all, Gazprom has already made an exception to the rule of "take or pay" for the Ukrainian side, the newspaper said. Recall that the signed in January this year for the period up to 2019 gas contracts between Gazprom and Naftogaz Ukraine contain the condition "take or pay". In the first half of "Naftogaz" almost every month broke the agreement by selecting the gas in smaller than specified, volumes. Thus, the contract provides for delivery of the first quarter of 5 billion cubic meters. m, the second - 10 billion cubic meters. m. "Naftogaz" is imported in the first quarter of 2.8 billion cubic meters. m, the second - about 5.7 billion cubic meters. m. Formally, this gives the right to Gazprom present Naftohaz penalties in the amount that President Yushchenko was valued at $ 5.25 billion "The Europeans are now saying: you will not punish Ukraine, why are you punishing us?" - Complained about the source of publication, close to "Gazprom export". The system of "take or pay" is a legacy of times when the gas industry was in its infancy. Then the liquid spot markets do not exist, and producers in need of long-term contracts with stable prices in order to carry out the huge investments needed to develop new gas fields. In the current circumstances, some experts offer radically revise the current system tsenooobrazovaniya gas. The fact that the financial crisis and downturn in the economy led to a decline in demand for gas. At the same time the supply has increased due to new projects for the extraction of shale gas in North America and start new projects for the production of LNG (liquefied natural gas). Glut in the market brought down the price of gas on spot markets, such as the UK National Balancing Point (NBP) and Zeebrugge in Belgium. In August, the price of gas for delivery in this winter on the NBP dropped to 40 pence per therm from 100 pence per therm in June 2008. European customers who buy gas from companies such as Gazprom ", Sonatrach, StatoilHydro, have not benefited from the reduction in spot prices, because the price of European long-term gas contracts tied to the price of oil, which remains high. Oil rebounded after falling to $ 35 per barrel and now is around $ 80. Now, some representatives of the gas industry in general in favor of the revision of the pricing mechanisms in the contracts with the transition from oil prices to spot market prices. Gazprom also protects linking gas prices to oil prices, since the spot market does not have sufficient traffic to provide better price signals. "NBP turnover of 15 billion cu. M of gas per year, while Gazprom has sold 160 billion cubic meters. M of gas to Europe last year. If we used the NBP, it would be like a tail wagging the dog" - quoted edition of the head of the structuring of contracts and pricing department of the analysis and optimization of Gazprom Export Sergei Komleva.

Brussels. Quiet Bratislava, is the most noisy in the capital of Europe

The published report of the European Agency for the Environment once again confirmed the unhappy fact - about 41 million Europeans living in the largest cities of the continent, every day, forced to endure the noise on the average level of 55 decibels. It would seem that this figure is slightly larger than the volume of human speech at normal conversation should not cause major concern, but that it is becoming a constant background noise of even such a devastating effect on the body, causing serious complications of the cardiovascular system. Nearly four million Europeans live with the noise level of 70 decibels, which is comparable with the conversation already in raised voices. Nearly one million people in the Old World, settled in the vicinity of airports, military bases, etc., are regularly forced to endure the noise level to 75 decibels for example, from the roar of aircraft engines are particularly affected residents of the little Dutch, Germans and Britons. If we talk about the cities of the continent, recognized as the most noisy, then malopochetnoe first place there is Bratislava, the noise stress in which experiences about half the population. Unfavorable European metropolises also recognized Warsaw and the capital of France - Paris. The main source of noise, irreparably affecting the health of the population here is transportation - trams passing over the land branch of the underground, intraurban railways. Oh and, of course, going to take off and landing of low-flying airliners.

Inflation is back in Europe, where it was six months - Eurostat context.

Great Depression - 80 years Growth in consumer prices in 16 countries in the euro zone in November 2009 amounted to 0,6% in annual terms, for the first time since April of this year showing an increase, according to published on Monday an initial assessment of European statistical agency Eurostat. Thus in October, experts from Eurostat, on the contrary, deflation has been recorded in 0,1%. Thus, promulgated on Monday confirmed the statistics of the predictions president of the European Central Bank (ECB) Jean-Claude Trichet, said earlier that inflation in the euro area may resume soon on the background of a gradual economic recovery in Europe. Consumer prices showed a continuous decline since April 2009, under pressure from deflationary forces, including the general decline in consumer demand that is occurring in Europe in connection with the negative impact of the global economic crisis.

Stock markets in Europe closed raznonapravlenno .

Stock markets in Europe on the basis of trading on Wednesday, November 18, changed raznonapravlenno on the background data on the growth of consumer price index in the United States, reinforcing investors' inflation expectations, reported Agence France-Presse. By the closing of the auctions the British index FTSE 100 fell by 0,07% - to a mark of 5,372.10 points. Germanic DAX, on Wednesday rose by 0.29% to 5,795.28 points. The French CAC index on the basis of trades fell by 0,02% - to 3828.16 points. FTSE 100 (Financial Times Stock Exchange 100 Index) - the main UK share index, calculated by the quotations of shares 100 British companies with highest market capitalization, weighted by market capitalization. CAC 40 (Cotation Assistee en Continu) - France's main stock index, is calculated as a weighted average capitalization value stock prices 40 largest companies. DAX 30 (Deutscher Aktienindex) - Germany's main stock index, calculated as an index of stock returns of the 30 largest companies (by market capitalization).

UAE central bank created a new mechanism to support banking liquidity .

Central Bank of the United Arab Emirates announced the creation of an emergency financing mechanism to support bank liquidity in response to the debt problems of Dubai, paralyzing lending and threatening to derail economic recovery. CB also assured that the UAE banking system is now healthier, and its liquidity is higher than a year ago. According to analysts, this move is a preventive measure to stop capital flight and the flight of deposits, when the exchanges reopen after four days of holidays.

Tuesday, November 24, 2009

Album Boyle may be the most sold in the UK in 2009.

Their debut album, I Dreamed a Dream 48-year-old Scottish singer Susan Boyle, famed throughout the world after taking part in the TV show "Britain is looking for talent, can become a best-selling album in Britain this year, reported Reuters on Tuesday. According to the British online music store HMV, the first day of sales in the UK, along with shipping pre-orders in the shops, went about 150 thousand copies of the album Boyle. The debut album by Susan Boyle went on sale>> Global sales of the album, which also caused a big stir in the music market and the U.S., started on Monday. "Now we are forced to revise its initial estimate of the number of sales in its first week - if we previously had planned to sell 300 thousand copies, this is now number close to 400-thousand meters," - said spokesman HMV. "This album can easily become the best-selling, as well as the fastest-selling in 2009," - added spokesman trading network. The successes of the Scottish singer's debut album can be compared with a post in December last year the album The Circus British group Take That. During the first week it sold nearly 432.5 thousand copies, and all were sold over two million discs. This result allowed The Circus take a 27-place in the list of best-selling album in the world last year. However, as experts note, the album Susan Boyle laid much greater commercial potential than that of Take That, largely due to its enormous popularity in the United States.

"Intermediaries neutralized with an ultimatum to President Ilham Aliyev": Yerevan on the outcome of the meeting in Munich

The presidents of Armenia and Azerbaijan discussed in Munich, the status of Nagorno-Karabakh. This in a conversation with a correspondent of IA REGNUM News said Secretary of the ruling Republican Party of Armenia Eduard Sharmazanov. According to him, the information conveyed and influential Russia's ORT television channel. As noted Sharmazanov, the fact that the media talked about determining the status of Nagorno Karabakh Republic by referendum, indicates that they recognize the solution to the problem based on the principle of self-determination. The MP believes that after solving this issue could be discussed, and others, as they should come to such an agreement, which will be integrated and eliminate the recurrence of conflict in the future. Sharmazanov stressed that this meeting has shown the international community that "Armenia is a more reliable partner than Azerbaijan, whose president on the eve of the meeting made a bellicose statements, apparently having failed to cope with a nervous condition." He stressed that "Armenia is committed to the peaceful resolution of the conflict, but if Azerbaijan thirsts for war, let them remember what culminated in military action launched against the peaceful population of Karabakh." As noted Sharmazanov, a breakthrough that has been mentioned the OSCE Minsk Group co-chairs after the meeting, apparently lies in the fact that the parties agreed to continue peace talks, which effectively neutralized the ultimatum to President Ilham Aliyev. As for complications, which are also recorded intermediaries, according to the deputy, they concluded that the Baku operates principles and speaks a language incomprehensible to the international community. In turn, the head of the parliamentary commission on European integration, representing a coalition of "Prosperous Armenia" Naira Zohrabyan not willing to make predictions about what provided a "breakthrough" and what is the "complexity" of the negotiations, noting that information on this in if necessary, will distribute the country's leadership. Speaking of information, which extended the western media, particularly television station Euronews that during the talks discussed the return of the liberated territories, Zohrabyan noted that the Armenian side, represented by the Foreign Ministry, has repeatedly stated that only discussed the status of Nagorno Karabakh. For the Prosperous Armenia Party, the issue of status is a priority, and after the legal definition of the status of Karabakh can be discussed and other issues. The head office of "Hai Dat and Political Affairs of the Armenian Revolutionary Federation" Faction "Kiro Manoyan drew attention to the difference between the statements the Co-Chairs of the meeting of the joint declaration and the OSCE Minsk, which is closer to reality. He noted that it is difficult to unequivocally state that it was discussed at the talks, but he hoped that the first 2 hours 4-hour meeting, the President of Armenia raised the question of whether to continue talks on the background of the warlike statements voiced on the eve of President of Azerbaijan. According to Manoyan, the Armenian side it is time to give an adequate response to such statements. "Recent statements by Aliyev was not ordinary, it was a direct threat," - he said. In his view, a separate statement the Co-Chairs also pursued the goal is to give Aliyev occasion to say that progress is being made, and no reason to wage a war.

David Karsbol: "I would call this increase false and unfounded".

Each year in December investbank Saxo Bank publishes shocking predictions (or forecasts Incredible ") - is an unusual application to the standard annual forecast Saxo Bank, which collects the most unlikely, unexpected and sometimes really shocking scenario. Before writing regular predictions for 2010 GZT.RU managed to talk with the head of the strategic unit Bank David Karsbolom. David, one of the main issues that concern today, probably, all without exception - can we talk about the end of the world financial crisis and the beginning of the recovery process? I must say that I still raises concern the situation that occurs in the global economy. On the positive trends that we note in the fourth quarter, obviously, they continue in the first quarter of 2010. However, from my point of view, this process - a kind of inertial feedback on a record decline in the economy, as well as unprecedented cash infusion. This conclusion is supported by macroeconomic indicators that we monitor, at least ten leading economies. I would call this increase "a false, unfounded. I hope that he does not lure investors into a trap, because this alleged rise could lead to negative consequences in the distant future. But since I am a strategist and analyst, I try to predict the best that I can, based on the knowledge and data that I have. Most likely, during the year 2010 will be signs of recovery and stabilization. Some economists expressed concerns over the increasing volume of operations carry trade. Could this lead to inflating the next bubble? As you consider whether central banks begin to interfere unnecessarily risky behavior of investors? Central banks are not concerned about this behavior, because they are interested in the fact that they blew bubbles, it is their main task. They are interested in the fact that the festival never ended. For them, much better when inflated bubbles is 60-70% growth, even in a market that really does not sustained. It is important to create a mood in society that people have again started to buy, consume, it looks much more positive in terms of both central banks and bankers, and governments, as well as those responsible for policy decisions. That is absolutely the work and strategy of central banks.

Out up a night race in Switzerland, the Russians had no right to drive cars of this class .

Four young Russians to luxury cars (Lamborghini, Bugatti, Mercedes McLaren, and Porsche Cayenne), who made a Thursday night race on the road from Geneva to Lausanne, and were guilty of a serious accident, had no right to drive cars of this class because of his youth , wrote today, the Swiss press. Owner cabin rental luxury cars Raid Salah contends that such a car as the Bugatti Veyron is impossible to find in the country, it is too rare and too expensive for any of the Swiss interior. In addition, no interior do not dare to pass such machines as young people. To be eligible to drive a racing car, to reach the age of 30 years, and have enough secured credit cards. "I would rather lose a client than I would venture to make a good car in the scrap," - said Reid, Salah, the owner of the Geneva company Select VIP, which specializes in rental of luxury cars. He denies that his company delivered their cars to let young Russians - the participants of the accident. Nevertheless, the police officially confirmed: the four cars involved in the urban rodeo on the night of Thursday to Friday on the way from Geneva to Lausanne between Bellevue and Versoix, three - Mercedes SLR McLaren, Bugatti Veyron, and the Porsche Cayenne Turbo - were put into rental companies to rent luxury cars registered in the cantons of Vaud, Ticino and Aargau. With regard to the Mercedes SLR McLaren, the owner of a car dealership, said: "In Geneva, a company that offers this type of car, but he can not get into all sorts of hands. Obligatory in this case is the minimum age requirement of 30 years of age and previous experience of driving a racing car. In addition, according to eyewitnesses, Mercedes has been modified to such an extent that it is impossible to get a car through the rental agency. The car, which became the main cause of the accident belonged to his driver, who lives in Geneva, wrote Tribune de Geneve. "Lamborghini Murcielago, presumably, the main culprit of an accident, crashed into the Golf, was owned by his driver. Golf, driven by a 70-year-old German pensioner who also belonged to his driver," - said police spokesman Patrick Poole.

Great recession ended

The largest since the Great Depression, the recession ended, but the relatively small cost to consumers in terms of substantial unemployment slow down the economic recovery, according to a study released on Monday. Report of 44 professional researchers of the National Association of Business Economists (NABE) showed that 80 percent of respondents believe that the economy will resume growth after chetyrehkvartalnogo reduction. "Great recession is over," said Association President Lynn Riiser. "The vast majority of business economists believed that the recession is over, but that economic recovery is likely to be more moderate than there were before." The current recession, which began in December 2007 is the longest and deepest in the 1930's. It was caused by the collapse of U.S. real estate market and the global credit crunch. A survey conducted in September, predicts real GDP growth by 2.9 per cent in the second half of this year. Production in 2009 is expected to decline by 2.5 percent and next year will be restored to 2.6 per cent. Most of the expected recovery will be realized by companies that are restructuring their assets after the rapid reduction of unwanted stocks of unsold goods in the conditions of weak demand. Investments in the housing market is also growing, with most experts believe that more than three years of falling real estate market is coming to an end. Real estate prices have reached bottom Approximately two-thirds of respondents believe that property prices reached bottom this year. Also in the survey said that the high real estate prices will not jeopardize the restoration sector. The study predicts that unemployment will increase by 10 percent in the first quarter and decreased by 9.5 percent by the end of 2010. The labor market is expected to return the destroyed crisis workers only to 2012 or later. Weak labor market will continue to affect consumer spending, slowing the recovery. The unemployment rate rose by 9.8 percent in September - 26-year high - from 9.7 percent in August. Weak labor market, together with the weak growth of wages, means that inflation will not impede economic recovery, and that the Fed will not under pressure to increase interest rates. "With an improving credit markets, the U.S. economy can return to the thorough growth in the next year without worrying about rising inflation," said Riiser. The U.S. central bank is likely to keep interest rates near zero until the end of next spring, but may increase it to 1 percent by the end of 2010, reported in the study. Despite signs of recovery in financial markets, the majority of respondents believed that to return to their former positions of the world economy needs a lot of time. Only 29 percent believe that it will happen in the second half of next year. Respondents also expect the U.S. dollar will continue falling in the next two years, but did not believe that this will help reduce the trade deficit of the country, as economic recovery encourages imports. The dollar has lost about 5.8 percent of its value against a basket of currencies this year, largely because of concern about the growing budget deficit and the growth of government expectations that the Federal Government to hold on interest rates at very low levels for a long time.

Friday, November 20, 2009

World economic crisis: Europe delivers ago .

The legendary American investor Warren Buffett once said: "will ebb, and it was then, and it becomes clear who has been swimming naked." Although this piece of wisdom referred to the situation of companies in an economic crisis, it can also be applied to countries, and economies. The situation in Europe makes all the more reason for concern, because the global economic crisis, all the shortcomings and limitations of the European Union were ruthlessly exposed. Indeed, it is clear what primarily Europe lost due to rejection of the constitutional (Lisbon) treaty: their faith in themselves and their own future. America, which is in the midst of the gravest crisis since 1929, opted for a genuine new start by voting for Barack Obama, is in the process of transformation. Disagreements between members of the European Union, on the contrary, worsening with each passing day. Instead of reinventing itself, Europe, under the pressure of the crisis and its own internal contradictions, threatens to revert to protectionism and national egoism of the past. Europe today has a common currency and European Central Bank, which became a bulwark of stability of money in the financial crisis. Any weakening of these two organizations would cause severe damage to common European interests. However, EU member governments in the past few months raises serious doubts that they are aware of this fact. The longer the crisis, the clearer it becomes that in order to protect the Common Market and European integration requires more than just the presence of a single currency and the ECB. In the absence of a common economic and financial policies, at least, between the euro area members, the unity of a common currency - and the very existence of the EU - are under unprecedented threat. Of course, the crisis was under siege almost all countries in the world. However, within the EU and the euro zone there are significant differences and economic imbalances that are reflected, for example, the growing disparity in interest rates. In Italy, Spain, Portugal and Greece is rapidly melting, while stronger economies in northern Europe are doing better, although they are struggling. If this continues, effectively putting an end to the Maastricht criteria and the rising national protectionism in the form of industrial subsidies, the euro will be at serious risk. It is easy to imagine that would mean a drop in the euro for the EU as a whole: a catastrophe of historic proportions. Moreover, the situation began to deteriorate rapidly to the countries of Eastern Europe, who have neither the economic strength nor the political stability of those countries that were in the EU for a long time. Given the exposure of some euro zone countries, such as Austria, this crisis will also have a direct effect on the euro area. To wait and see, therefore, is a bad strategy. There is no reason to believe that the current global economic crisis has bottomed out. So, assuming that it will deteriorate further, Europe will soon face a grim choice: either more affluent and stable economies in the north - especially Europe's largest economy, Germany - will use their greater financial resources to help the weaker euro-zone economies, or the euro would be in danger, and with it the whole project of European integration. Why in this case do not introduce new instruments such as Eurobonds, or create an EU mechanism comparable to the IMF? Each project will certainly be costly - especially Germany - and therefore, not be popular, but the alternatives are even more expensive, in fact, they are not serious alternatives in terms of policy. Officially, no way to bypass the "European economic government" or "enhanced economic coordination" (call it whatever) does not exist. However, in practice it is possible, and therefore do not require treaty change. Unfortunately, it has become clear that the Franco-Germanic engine is needed to ensure that the EU acted in unison, is currently blocked. Despite the assertion that France and Germany share common interests, the facts say otherwise. Almost all strategic aspects of crisis management in the EU, Germany and France are blocking each other, despite the fact that both are doing virtually the same. They think primarily about themselves, but not of Europe, which is thus effectively without leadership. The EU was and remains institutionalized compromise, and must remain so today, in the midst of a global economic crisis. If Germany and France would not solve their differences in a short time, and find a joint strategy to resolve the crisis, they damage themselves, and Europe as a whole. It must never be forgotten that the European Union - a project designed to achieve mutual economic progress. If this economic bond disappears, national interests will prevail, and the project will be torn to shreds. Today's Europe is not suffering from a lack of economic strength, but rather from a lack of political will needed to act together. And it is this problem should begin to fight France and Germany.

GM will dismiss about 10 thousand employees in Europe.

American corporation general Motors intends to reduce from 9 to 10 thousand jobs in the factories in Europe. The statement was made acting chairman of GM in Europe, Nick Reilly, transmits Bi-bi-si. According to the ai, this decline is part of the restructuring of the company, under which general Motors intends to cut costs in Europe by 20-25%. In some countries, GM plans to reduce, not reported, but it is known that the restructuring will be spent over 3 billion euros. Recall just a few days ago, GM announced it would close in the U.S. 81 of Saab. This decision is connected with the sale of the brand Saab Automobile AB Sweden's Koenigsegg Group AB, which specializes in the production of exclusive sports car class. Thus, in the U.S. will continue to work only 137 missions SAAB. How many employees will be dismissed in connection with this reform, the GM is not reported.

Europe's economy.

III. "Answers" The weakening of Russia's position in the "energy dialogue" with the EU is projected in any format change of power. This is due to the fact that for many years "formula of success" of the Kremlin was limited to exchanges of the system of concessions on personal political agreement, "tied" to specific political figures and have a limited shelf life. Increased power through the weakening of the country has become one of the basic technologies of Russia's foreign policy. The only guarantee of its bridge - the existence of the ruling elite of tomorrow's system of public principles, expressing the conditions of existence as an independent country "large space" (State of civilization) and obviously non-negotiable. In the field of international energy policy such principles are: 1. Priority of domestic consumption to export. Russia's position should be that low domestic energy prices - the natural advantage of resource-rich country situated in the vast territory of the cold and, in fact, a form of subsidy today's Russia, its past generations. The internal energy market (especially oil and gas) must be effectively SEPARATE from the influence of external markets as a protected "area of low prices. Only in this case, the increased profitability of the enterprises of the primary sector will not suppress, but to ensure industrial development of the economy. The obligation to keep a certain share of energy in the country is forcing mining companies to establish themselves more surplus value in the manufacturing sector. 2. The priority of energy integration in the post-Soviet space in front of the obligations of European energy integration in. As European integration began with the Franco-Germanic Union Coal and Steel Community, severoevraziyskaya integration of Russia and the allies can be based on an energy pact that is based on - an objective dependence prirubezhnyh countries on Russia's energy pact that infrastructure. The latter should be openly considered as a political tool of the State of Russia, which applies to them, including, in the interests of allied countries. To do this, the status of Russia's allies should be designed as an international legal and binding. From today's Russia's ability to build a consolidated energy policy, especially with Kazakhstan and Belarus is largely dependent upon its independence from the EU and the status as an independent "large space". 3. State monopoly for international energy policy. This is not about foreign trade, namely, the political monopoly, which does not require the full nationalization of the energy sector. In regard to private companies to operate the mechanism of coordination with state partners on sales and prices, as well as all investment projects with foreign partners. With regard to public companies in the fuel and energy sector should operate a formal ban on privatization. The situation in which Gazprom and Rosneft may receive first preference as a public corporation, and then safely use them as private (which is likely in the near future) - should be legally excluded. 4. Exclusive state ownership of mineral resources and raw materials mined. Organization of subsoil use, based on this principle (for the moment the resources extracted in government deposits, are actually owned by mining companies) is the main prerequisite for the system to attract foreign investment in the modernization and development of transit infrastructure and mining, including those based on fixed-term regime of concessions . 5. Diversification energopoliticheskogo partnership. Distribution of Russia's exports of energy among several world centers of power is a condition of independence of the country. European bias of our energy policy should balance the development of the south-east of energy policy should. India, China, Japan and other Asia Pacific countries are vitally interested in the supply of Russian fuel and energy resources and are willing to invest in the relevant infrastructure. Since the principle of diversification of the partnership should be applied to the APR countries themselves, the routes that allow trade with the several States (Angarsk - Nakhodka), politically better for Russia than the lines tightly bind it to a single user (Angarsk - Daqing). 6. Presence of inviolable strategic commodity reserves. Strategic reserve explored deposits, whose development may be authorized only by a special, exclusive of Parliament is important, especially as a factor in healthy social relationships (the transition from the model as the stolen property to the model of property as an inheritance) and to overcome the syndrome of "raw power." At the same time it will strengthen Russia's international standing and its resistance to increasing pressure on the international development of natural resources in the situation of the global struggle for resources. 7. Mastering the Inner East "- or the same thing, the priority of territorial development in Russia before the European energy security. The project integrated infrastructural development of the Russian East will not be just an alternative to "rotational approach" to Siberia as a joint colony of the western world, but one of the breakthrough areas of Russia's civilization in the twenty-first century. And, in particular - one of the main directions of investment profits FEC. Business extractive companies should be in some sense "serfdom", that is, is bound for regional development. In addition to the guarantees of cheap Trans-Siberian direction of internal communications, it will give Russia a chance to take their rightful place in the growing Asia-Pacific region. That is, to become, finally, the great non-European power.

Europe's economy.

6. Creating a new post-Soviet space, "nerossiyskoy" infrastructure of energy supplies in the EU Of the EU's strategy to diversify energy imports implies, as mentioned above, the strategy of containment of Russia in the post-Soviet space, to avoid direct or indirect control on the part of the mining sector and transit infrastructure and adjacent areas. In parallel, the "containment", the EU is building a new regional alliances. Significant in this regard, the role of Ukraine, which, apparently intended to turn the country "cordon sanitaire", which creates transaction costs for Russia "on the way" in Europe, an active mediator "nerossiyskih" energy supplies. Draft multi-gas transport consortium (Russia-Ukraine-Germany), and failed, but following the visit of Yushchenko in Germany, Deutsche Bank offers "Naftogaz Ukraine" a credit line worth about 2 billion euros for the implementation of international projects of the company. Ukraine becomes the EU's trusted "gas operator" on the post-Soviet space. For a start, it will sell Turkmen gas, together with Poland and Germany. Anticipated the imminent establishment of trading houses for sale on the territory of the European Union "gas nerossiyskogo origin", which can be a source of Turkmenistan and Kazakhstan, dissatisfied with re-export monopoly Gazprom, which controls transit routes. Today, the EU believes that this transport problem is feasible, as evidenced by the start of new projects, including gas pipeline, the Caspian and Caucasus. As for their implementation, Russia's control over the transit gas from Central Asia and the Caspian basin to Europe, will be eliminated or minimized. However, experts note that the main factor energopoliticheskogo influence on post-Soviet Russia is not the activity of external forces, and its own system the choice between a model of European energy space and a common energy space in the format Russia - Kazakhstan - Belarus. In the event of a priority focus on "a European" model, Russia loses not only the influence of the former Soviet Union, and leverage themselves panregionalnoy bloc politics (which is exacerbated by a factor of entry into the WTO, narrowing tools of regional economic unions). The common denominator of the above challenges is the consolidated claim the Euro-Atlantic world: Russia's energy potential should not be a factor in its political sovereignty. We do not assume the axiom of manifest hostility of the European and Euro-Atlantic structures in relation to Russia. Rather, this requirement is a consequence of the notorious "doomed to cooperation", which is often said Westernizing elite in Russia. The question, as was said - in determining the conditions of the alliance forced the EU and Russia. In the absence of strategic applications for subjectivity on the part of Russia, the alliance would be colonization, as listed, and provides insights into the vectors pressure. An indicator of "colonial" European integration project for Russia is not the formal status of Russia in the negotiation process, and the host of the elite model of development. One can predict that further "deep integration" in a given line is vital to both sides of modernization of Russia's transit infrastructure will be paid partly vnutrirossiyskim consumer (due to the gradual equalization rates to the level of "European" market), in part - by foreign investors in exchange for access to Russia's oil fields. As a result, on the one hand, the shortage will worsen the gap between the commodity sector and the manufacturing industry, on the other - would be excluded even a formal opportunity to address this gap through mobilization of resources for fuel and energy infrastructure and industrial projects of national importance. In this context, experts noted that the requirement of "internationalization" of the mining industry and the liberalization of domestic gas prices - important to our partners not only as a factor of competitive advantage, but as a systemic factor in deterring domestic consumption in Russia. The suppression of energy-intensive industrial growth in Russia - a natural imperative for Europe's energy security and an integral part of the philosophy of the common European home, in which Russia belongs to the role stokehold. Kochegarka powerful, but too cumbersome to spend resources to "heating" of all its excess space (hence, in particular, and the requirement of non-development of Siberia and the transition to the shift method of mining). Thus, embedding in energopolitichesky format "big Europe" suggests the possibility for Russia to obtain raw materials rents, but obviously it impossible for certain types of investments: in the industrial growth, energy-intensive development of the regions, the expansion in prirubezhnyh zones. As the main advantage of this model of dependent development is called, as a rule, high level of security: Europe is interested in the integrity and stability of energy supplier for all of it "during transit. However, the integrity of the transit corridors is not identical to the integrity of the society and country. On the contrary, the project evrozavisimogo development means loss of connectivity to Russia - Social (priority foreign markets over domestic distinguishes outward oriented "growth points" of a degrading social landscape) and territorial (regional integration of heterogeneous Russia in the European space "is destined to be" different rates "). In the limit, logistics of supply does not prevent vzaimoizolyatsiya regional societies, as well as the integrity of pipeline routes does not preclude the "cutting" Trans-Siberian railway route. Fragmented Russia around a single system of pipes - this is the only possible model of the eastern wing of the "big Europe". This image corresponds to the low standard of European modernization. Moreover, it is the "European choice" (understood as the course "European integration" on its system conditions) makes Russia a country with high quality non-European level and type of development. This statement is paradoxical only at first glance. Some theorists "Wider Europe", indicating that outside the European core (where are those limits - theme of a separate debate), the principle of integration is not the similarities and differences in the level of economic development, ensuring their complementarity. Price "European choice" in the energy sphere, as we see, is very high: loss of energopoliticheskogo sovereignty, preservation of the commodity model and the fragmentation of the country. The problem is that at least as great today is the willingness of the ruling elite to pay that price. According to expert estimates, expressed at the seminar, during the last years of the second legislative term, Putin significantly grows the likelihood of far-reaching concessions on many painful for our country's issues. Including, for energy sovereignty. Part of the President's, and increasingly, representatives of the north-western elite, seem to see themselves as part of the internationalized corporate infrastructure control energy flows Russia - the EU and, consequently, act as lobbyists of its internationalization. On the other hand, a package of energy requirements may well be played as the price of legitimizing the new government in the West orange revolution scenario. And these two lines of the threat does not exclude, but rather complement each other. Moreover, the draft energy desuverenizatsii Russia under the auspices of European integration could eventually become the main point of consensus okolovlastnogo and orange segments serving the elite. That is a key to soft transit authorities with security guarantees (formula life + property) for some and guarantees the legitimacy for others. Therefore, it is essential that the change of power in Russia, first of all, do not require additional legitimacy from the outside, that is passed through the most democratic scenario, and, secondly, to withdraw to the forefront of free evrozavisimosti social-patriotic elite.

Europe's economy.

5. Updating the "right of peoples to self-determination" for the erosion of State sovereignty over mineral resources In the European legal space, which aims to join Russia, "the right to self-determination" is interpreted, including as the right of indigenous people to natural resources in its areas of resettlement. During the discussion, found confirmation of the hypothesis put forward by experts from the INS that in the hands of the EU principles of self-determination (rashly accepted Moscow) can become a "master key" energopoliticheskogo Russia's sovereignty and that the threat has not yet evaluated sufficiently Russia's power. Already, through Finland, Estonia, Hungary, develops the theme of the rights of the Finno-Ugric peoples of Russia and the Sami, including their rights to the subsoil. Moreover, the "denial" of the rights of the Finno-Ugric peoples in Russia have recently devoted a special resolution the European Parliament. This theme is developed implicitly and in a sense, kept in store, but at some point it may be sharply put into an information agenda and the agenda of official relations, Russia - the EU.

Europe's economy.

3. Opposition to the development of Russian energy supplies in the Asia-Pacific region. This resistance is indirect and occurs mainly through domestic lobbyists. His motives are obvious. First, the EU is objectively interested in maintaining the current total evrozavisimosti Russia's energy sector, which is currently physically unable to sell the same gas wherever it may be, except Europe. Secondly, the West and particularly the United States are interested in a strategic containment of the growing economies of China, India and other Asia Pacific countries. The problem of power shortages in these economies, becoming a "global factory" in the global division of labor remains an important factor controlling their development of the powers in control (or seeking to control) force field of global energy policy. According to participants, the U.S. side during an informal coordination of positions failed, first, to make a principled refusal to Russia's side of the pipeline construction in China under the project "East pipeline, secondly - to direct Russia's LNG market for U.S. technology cycle and the U.S. route. 4. "Shift" approach to regional energy producers in Eastern Russia At least most troubling is that Russia's stake in this game is not just a problem of diversification of its own energy policy, but the problem of infrastructure development in Siberia and the Far East and the problems of connectivity and communication of the country. Experts, lobbying for the assimilation of European integration, has openly spoken about "minimizing" burdensome economic infrastructure of Siberia, created in Soviet times as an objective condition "European choice". In the logic of this choice, the alternative to "imperial" policy development "challenging spaces" should be a rotational approach and as a consequence - the international security guarantees Trans-Uralian territories and the international regime to use their resources. Recently, this scenario is beginning to penetrate from the information field in real politics. Siberia and the Far East today "cut off" from the European part of Russia following the example of Kaliningrad. In the course of the delimitation of borders with Kazakhstan, hastily carried out under pressure to the EU, was not even raised the question of the status of the Trans-Siberian station, passing through the territory of Kazakhstan. At the moment, only the good will of President Nazarbayev separates Russia from the "cutting" of the axial artery of communication "visa barriers".

Europe's economy.

2. The requirement of balancing domestic prices for gas and other energy resources to the level of European market. Despite the official optimism about Russia's part, this sore point in relations with the EU is not closed and will not be closed even with the end of the WTO negotiations. Essentially, it is "sewn" into the very model of relations psevdointegratsionnuyu Russia - the EU, expressed in the concept of "common spaces". One of the parameters of a common energy space (as part of a "common European economic space") is an objective system of pricing. Up until the very concept of "shared spaces" will not be reviewed, inclined to the negotiating pressure European bureaucrats will methodically go back to the question of the gradual harmonization of energy pricing as part of "greater Europe". EU wants to avoid the "energy dumping", because that Russia's industrial consumers have access to the gas, whose price is five times lower than the export level. Thus, Russia's state subsidizes its industry, to the detriment of international competition. " Significant share of Russia's exports to the EU belongs to the energy-intensive goods, such as metals and chemical products. And the EU wants them were more expensive. In print leaking unofficial information that the purpose of negotiations with the EU is a gas price of 45-60 dollars. per thousand cubic meters for Russia's industry. As a result, Russia's energy producers would receive more revenue for investment in its new export projects, and competition for the European steel and chemical industries would fall. Recall that at the moment (estimated GHG "IARC"), Russia's steel industry is subsidized at $ 800 million due to cheap electricity, a further $ 1 billion - at the expense of gas and $ 150 million - at the expense of existing duties on exports of scrap metal. Total subsidy metallurgists is today 15-17% of revenue received by companies. Now inside Russia, consumers buy from Gazprom energy on the Government-established price - about $ 38 per thousand cubic meters. Experts estimate that Gazprom, the rise in prices, with free pricing would be around 30% - to almost 50 dollars per thousand cubic meters, which roughly coincides with the interim requirements of the EU. Vice-President of OAO Gazprom and Director general of Gazexport, Alexander Medvedev, has expressly recognized that the protocol on accession to the WTO, signed by Russia and the European Union, provides a precise timetable for the tariff increase for domestic gas consumers. In an interview with French newspaper La Tribune, he said that "our goal is to achieve by 2010 the price of gas at 60 dollars per one thousand cubic meters. Meters of gas."

Europe's economy.

II. Challenge " However, the problem of the political consequences of the Russo-European "energy dialogue", of course, wider. The natural task of our European partners is so vitally important to them, Russia's energy resources have not been capitalized as its political resources and could serve as a lever for self geostrategy. Draft energopoliticheskoy desuverenizatsii, which is the base for the EU "energy dialogue" with the East, was considered by experts under the sign of several major threats. 1. Requirements "greater access" to the extraction of Russian energy resources, demands of different forms of direct or international control over the national deposits. The corresponding pressure is long, but still keeps a kind of mutual neutrality. On the one hand, the EU and the U.S. blocked the admission of Russian companies on the internal market and prevented the wholesale resellers purchasing privatized transport infrastructure in Eastern Europe (Hungary, Czech Republic) and the former USSR (Ukraine). On the other hand, the Russians are not allowed foreign companies to develop Russian oil fields. Today, this balance is disturbed interference. There appeared the first serious signs of opening previously inaccessible to the commodity market in Russia without a commensurate penetration Russian players on the European market of transit and processing. All attempts by Gazprom to participate in the privatization of Eastern European gas distribution networks were strongly suppressed by the Commission of the European Union, and President Bush during his last visit to Georgia is not explicitly recommended that its government had agreed to make a deal to sell gas pipeline to Gazprom. Meanwhile, inside Russia Gazprom loses its monopoly status of gas production, creating precedents of mining parity with German partners. This natural process and will be continued, because the whole co-operation projects with Gazprom - as well as gestures of political support for Vladimir Putin - regarded by the German side only in the perspective of the expected changes in property relations. Given forsiruemuyu liberalization shares the concern, this moment is not far off. U.S. retaliatory response to the Russia-Germany's "gas" the friendship has been the unprecedented statement by U.S. Ambassador to Russia Alexander Vershbow, who expressed, on behalf of American companies interested in guaranteed access to gas reserves in the long term in exchange for technology for the production of liquefied natural gas capacity its reception and regasification. The main issues of concern to Western companies - how to be regulated by registration of western mining companies in Russia and how it will be granted access to the strategic stocks are still "minority" shareholders (such as the American ConocoPillips), intending to become strategic investors. According to the experts - participants of the seminar, the American package of requirements - including American companies access to Russia's oil fields as a priority and the right construction of private pipelines - has already been agreed and adopted by the Russians. The desire of major players to get "greater access" to Russia's oil fields has become a tradition. However, similar requests are made from a variety of unexpected corners of the Western world, which generally allows us to speak about the beginning of the long-term campaign for the internationalization of Russian natural resources. For example, in the course of WTO negotiations, Norway, is not formally a member of the EU, has demanded control of the pipeline infrastructure, Australia - access to Russia's mineral resources. In the end, was signed in Moscow a bilateral agreement with Norway on the conditions of Russia's accession to the WTO in conjunction with the framework agreement on cooperation in the energy sector. Today, two Norwegian companies - Statoil and Hydra - are admitted to participate in the development of Shtokman gas field. Russia's leadership has assured Western partners that it has elected Norway's strategic partner in this area and talked about "common shared responsibility for the management of oil and gas resources in the Barents Sea."

Europe's economy.

I. "Energy Dialogue" Russia - EU Key areas of contradictions in Russia's relations with the EU. This is not about the contradictions between "negotiating machinery" of Russia and the European bureaucracy, and the contradictions between the two projects for Russia: the project of European integration and assimilation projects of civilization. The question today is extremely tough: either the "Wider Europe" in the "Association" Russia + EU, or the "Great Russia", which represents its own integration project in the Eurasian region and cooperation with Europe on the basis of partnership, but not integration. The conflict between these two models exists in all areas of our relationship with Europe. And last but not least in the so-called "energy dialogue". The basic premise "energy dialogue" is an objective of mutual interest and interdependence. By the beginning of the XXI century Russia, which has the world's largest gas reserves, and Europe, whose stocks make up only 3% of the world, proved to be more attached to each other economically than ever before in a shared history. Contrary to popular belief, it is this interdependence is not a guarantee of harmony, and the factor of growing tensions. A key part of the energy Russia - the EU is the natural gas industry. First, Europe is showing a constant increase in the share of gas consumption in total energy consumption. Secondly, it is the supply of natural gas, due to system constraints on transport mechanisms, the most tightly binds together consumers and suppliers, contributing to the creation of regional alliances. "energy Dialogue" between Russia and the EU in the coming years should be viewed as a struggle for the definition of the parameters of this forced alliance. In the situation today, the gas market is a buyers' market, not the seller. All of Russia's gas pipelines leading to Europe, whereas in the structure of European demand share of Russia's natural gas is about one third. Deliveries are carried out on the basis of long-term contracts, which, on the one hand, allow Russia's side to plan long-term investments in the modernization of transportation systems, on the other hand, are a form of subsidizing the economy of the EU. Gas supplied from Siberia to the center of Europe for the first wholesale price reaches the final consumers at a price substantially higher (the difference is due to the fiscal and social policies of the EU). Printed Circuit Boards - production, manufacture, installation. Stencils. Solder paste. This situation could be quite satisfied with the united Europe. However, with increasing gas demand in Europe, where stocks are exhausted North Sea and as the economies of EU countries, meaning, and, in the broadest sense, the price of Russian supplies potentially increase. So today the EU is taking steps that would allow him to remain master of the situation. In particular, the EU provides diversification and liberalization of its own gas market. Policy of diversification suggests that for each type of imported energy should be provided with supplies of at least three different sources. The share of Russia's natural gas shall not exceed the current level of 36%. Policy liberalization implies a gradual withdrawal from long-term gas contracts and the transition to stock trading, following the example of the oil market. This should provide a competitive alternative suppliers and to pass on to their major risks, including political risks associated with transit territory. Critically important to ensure this policy is the connection to the European market for new suppliers, primarily - from the Caspian region. According to the forecasts of European experts, the share of post-Soviet natural gas supplies to Europe may take up to 70%. Given the already mentioned principle of restricting the share of Russia in the European energy market, this means only one thing: the imperative of EU policy in the post-Soviet space is containment of Russia. That is, opposition to any form of consolidation and integration of strategic suppliers and transporters of raw materials. In this - the fundamental contradiction between the declared in the "energy dialogue" with the EU-European energy dialogue the prospects of building a single economic space in the format Russia - Belarus - Kazakhstan.

Wednesday, November 18, 2009

EU countries are well prepared in case of a new gas crisis.

The European Union countries in general were well prepared in case of a new gas crisis, problems with gas supplies to Europe this winter will not arise - these are the main conclusions, which made the Coordinating unit of the EU Gas, whose regular meeting held on Wednesday in Brussels. Deliveries of gas to Europe: problems and possible new routes>> "The group noted complete filling storage facilities in almost all EU member states, as well as the presence of a number of commercial agreements to cover emergency needs of countries most affected by the January gas crisis," - said in conclusion. Following the meeting, the European Commission asked the EU's gas group, a regular meeting held on 14 December, elaborate scenarios and interoperability of emergency measures at the EU level and in the wider European scale in the event of interruption of gas supplies. European Commissioner for energy Andris Piebalgs said Wednesday that Europe is 100% fill its gas storage facilities and prepared a work plan in an emergency situation with gas supplies. On Monday, Russia and the EU signed a memorandum of early warning mechanism in the energy sector. With Russia party document was signed by the head of the energy Ministry Sergei Shmatko, from the EU - EU Commissioner Piebalgs. Early warning mechanism designed to ensure stable and uninterrupted power supply, preventing and overcoming with minimal negative consequences of emergencies in the field of energy. As noted Shmatko after the signing, the fact that it took place closer to the end of the year, does not mean that the document attached to the possible risks of gas supplies to Europe go through Ukraine. He stressed that in addition to the gas sphere, the memorandum governs the supply of oil, electricity and coal. In turn, Piebalgs said that the new document defines a system of notification, the procedure of Experts, the measures to be taken to prevent possible disruption of energy supplies, and how these measures will be implemented. The commissioner recalled that, for example, last winter, experts watched how are gas supplies from Russia to the EU. In January 2009, due to a commercial dispute between Russia and Ukrainian sides gas from Russia could not be delivered to consumers in the EU within two weeks. In the absence of a contract for the 2009 Gazprom cut off supplies to Ukraine on Jan. 1, and from January 7 - and gas transit to Europe through Ukrainian territory, as well as Ukraine blocked the transit routes. Transit was renewed on January 20 after agreeing on the level of Prime Ministers of Russia and Ukraine and signing of the ten-year contract between Gazprom and Naftogaz.

Stock markets in Europe closed reduction within 1%.

European stock exchanges closed on Tuesday reduced the major indexes to within 1% with a maximum of more than a year after the values statement of the head of the Federal Reserve System (FRS) Ben Bernanke that before the economy still faces "serious challenges" indicates data exchanges. By the closing of the auctions on Tuesday the British FTSE 100 index lost 0.68% and dropped to a mark of 5,345.93 points. Germanic DAX closed in a minus on 0,45% to reach 5,778.43 points. The French CAC index on the basis of trades fell by 0.88% to 3,829.06 points. Before the U.S. economy still faces "serious difficulties", but its moderate growth to continue in 2010, the Fed chief said at a meeting of the Economic Club of New York on Monday. He said the Fed policy will be aimed at maintaining "strong dollar". FTSE 100 (Financial Times Stock Exchange 100 Index) - the main UK share index, calculated by the quotations of shares 100 British companies with highest market capitalization, weighted by market capitalization. DAX 30 (Deutscher Aktienindex) - Germany's main stock index, calculated as an index of stock returns of the 30 largest companies (by market capitalization). CAC 40 (Cotation Assistee en Continu) - France's main stock index, is calculated as a weighted average capitalization value stock prices 40 largest companies.

Markets in Europe: the euro-zone bonds become cheaper, British Gilts grow.

Wednesday, November 18, at the European government bond market in the first half of the trading session dominated "bearish" sentiment. Particularly active market participants were selling short-term debt obligations of governments of the euro area. As for the British short-term securities, then only they only were in demand during the trading day. The nature of the session in a very meager flow of European macroeconomic information developed under the influence of corporate news, as well as on expectations of positive data from the U.S. housing market. An important factor in stimulating purchases of shares was the third consecutive day, continuing the growth of petroleum quotations, as well as the rise in metals prices. Pending confirmation that the construction of new homes in the United States is gaining momentum, set up investors for the optimistic mood in the morning, that stimulated the purchase of shares on European stock exchanges. In addition, a catalyst for increasing stock price made appeared in the media information that the company Hershey and Ferrero are in talks about a merger proposal made by the British confectionery company Cadbury. Another cause for purchases of risky assets has been the increased ratings of several European companies. Thus, experts BofA Merrill Lynch upgraded the rating of the shares of UK-based Ladbrokes, which owns 2,300 bookmakers in Britain and Ireland, from underperform to buy, analysts and Societe Generale SA raised their recommendation from hold to buy on shares of the largest manufacturer of liquors Diageo Plc. Thus, the increased interest in risky assets effectively reduced to zero demand for debt securities of European governments. Not contributed to the growth of interest in the protective instruments and not entirely positive macroeconomic statistics of the euro zone - on sale at the bond market continued throughout the first half of the trading day. With regard to published statistics, the European Statistical Office in Luxembourg reported that the balance of payments euro-zone (Current Account) in September rose from 3.5 billion to 5 billion euros. In addition, the agency Eurostat provided information about that activity in the construction sector in the euro area has decreased significantly. Thus, the volume of production in the construction sector in the eurozone economy fell in September by 1,1% compared to August (when the rate increase was 0,1%) and decreased by 8% in annual terms. Meanwhile, U.S. data disappoint investors. Construction of new homes dropped instead of the expected growth and inflation is somewhat ahead of forecasts. However, no significant changes in the nature of trades publication of macroeconomic statistics for the United States is not made. Quotes eurozone bonds continued to decline, as demand for British Gilts remained high until the last minutes of the session. As a result of the closure of bidding leading European benchmark government bonds showed the following results: yield of 2-year Bunds in Germany jumped by 13 bp and 10-year-olds - almost unchanged. Spread between 2-year and 10-year Bunds in Germany has narrowed from 210 to 197 bp

The European economy is improving - EU

The European economy has stabilized and even improved, says EU Commissioner for Economic and Monetary Policy Joaquin Almunia. However, the EU economy remains uncertain and the risks that should be taken into account in the next 2 years, leading European officials said the agency Bloomberg. At this point improvement in the economy of Europe primarily due to government measures to stimulate and stabilization in emerging markets, said Mr. Almunia. According to him, in 2010, continued deterioration in the European labor market, the weakness of the banking sector continues. Potential growth in the next two years is about 1%, believes AG Almunia. This year, the 27 EU countries increase GDP will show only Poland. The economy of all major trading partners of the EU finally restored in 2010-2011.

The growth of the euro may slow economic recovery in Europe - Eurogroup.

Continued appreciation of European currencies against the U.S. dollar can affect export volumes and, consequently, slow process of rebuilding Europe's economy, the chairman of the Eurogroup, comprising the finance ministers of countries participating in the euro area, Luxembourg Prime Minister Jean-Claude Juncker. Words Juncker, speaking Friday at a news conference in Luxembourg, quoting Agence France Presse. The head of Eurogroup said that if "the euro will continue to linear growth, as in recent weeks, there is a risk that" the exchange rate will slow economic recovery in Europe. "I'm not very concerned about the current rate of the euro", - added, however, Juncker. This week, the agency notes, the rate of uniform European currency approached the mark of 1.50 against the dollar. On Thursday, the euro reached 1.4968 dollars mark, which was the maximum for the past 14 months. "I am very glad to hear that the American administration and U.S. monetary authorities again and again repeat that in the interests of the American economy (maintain) a strong dollar", - said Juncker. Agence France Presse notes that the United States regularly make statements supporting a strong dollar, but the Europeans suspect them of deliberately reducing the U.S. dollar exchange rate, which in the short term contributes to the growth of exports and the long term reduce the cost of government and private debts. Eurozone trade deficit in August amounted to 4 billion euros, while in July trade surplus monetary union was 12.3 billion dollars. Earlier on Friday, Karl-Theodor zu Guttenberg, Minister of Economy and Technologies of Germany, whose economy is the largest in Europe, said that the depreciation of the dollar against the European currency "is not a cause for concern on the part of Germany, and" the competitiveness of exports was not germanskogo depends on the dollar. " The agency notes that the theme of exports is particularly relevant for Germany, which competes with China for the title of world's largest exporter. Zu Guttenberg also said that the weak dollar is having a "favorable effect" on the level of oil prices.

Saturday, November 14, 2009

Advertising led to riots in Paris.

Riots in the heart of Paris provoked scandalous advertising campaign in riots damaged stores, shops and residential buildings.

Europe emerged from recession.

Euro-zone economy grew in the third quarter of 2009 to 0.4 per cent and the European Union as a whole - at 0.2 percent, compared with the previous quarter. This is stated in the official press release published on the website of Eurostat. Published data indicate that both the EU and the euro area have returned to economic growth and emerged from the recession, which turned out to be the end of last year. Eurostat data were better than analysts' forecasts, which in September predicted that the Eurozone GDP in the third quarter will grow by 0.2 per cent. In annualized decline of the economy the euro zone in July and September slowed to 4.1 percent. In the second quarter of 2009, compared with the second quarter of 2008, Eurozone GDP fell 4.8% in January-March this year - by 0,9%. Earlier, on November 13 it became known that the GDP of Germany, the largest economy of the European Union, and France is growing a second consecutive quarter. In July-September, Germany's economy grew by 0.7 per cent in April-June - to 0.4 percent. France reported on GDP growth of 0,3 per cent in the second and third quarters. In addition, the recession in the third quarter managed to Belgium, Czech Republic, Italy, Austria, the Netherlands, Lithuania. Exit from the recession has not yet been able to the UK economy, Spain, Estonia, Greece, Hungary and Romania. Now in the euro zone comprises 16 European countries. The last join the euro zone Slovakia - January 1, 2009. It was reported earlier that the economic recession in France and Germany ceased. In the period from April to July, the economy of both countries - the most industrialized in the EU - showed growth at 0.3% - thus coming out of recession. Very few analysts predicted that the current recession will end so soon. "These data are very unexpected, - said the French Minister of Finance and Economy Christine Lagarde. - After four quarters of economic recession France finally showed positive growth." However, the combined GDP of the eurozone countries for the second quarter decreased by 0.1%, which means that the overall decline in the European economy has not yet ended. The current figure nevertheless looks very optimistic on the background of the results of the first quarter, when the economic recession in Europe amounted to 2,5%. Most economists predicted roughly the same figures for the second quarter.

London. Europe, the closing of the auction: Stock indices showed hetero-directed movement .

European stocks finished today's session countervailing movement against the background of improving forecasts by large companies, including BT Group Plc and PSA Peugeot Citroen as well as the release of bad corporate report AP Moeller-Maersk A / S. BT Group shares rose in price by 5,8%, and the paper Peugeot - on 2,6% after the increase of annual company earnings forecast At the same time, the paper Maersk fell 5.9%, the company's losses for the 9 months of this year were greater than expected by analysts The pan-European FTSEurofirst 300 index rose by 0,10% - to 1014.86 points, the British FTSE 100 index - on 0,17% - to 5275.70 points, the German DAX fell 0.01% - to 5667.56 points, the French CAC 40 - on 0,19% - to 3807.18 points.

Thursday, November 12, 2009

Market economy.

Nationalized enterprises. Moreover, it is in their trying to plan economic development. So, first developed a program of English economy, then the "national plan". Their expression in life was planned accordingly in the first and second half 60-ies. However, the program, and the plan was not implemented, and attempts to enforce them ended acceleration inflation, deterioration in other indicators of economic development of the country. In the late 70's annual inflation rate rose to 15% per year at the beginning of this period has slowed, and then did Terminated tilsya production growth. For example, in the mid 70-ies Industrial output was 11% lower compared with the early 60-ies. Unemployment rose to a record size, decreased standard of living populations Nia sharply increased foreign debt of Great Britain. All attempts by the Labor Party to solve these problems in ways strengthening state regulation of economic success not have. There was a crisis of economic policy, based on the Keynesian concept. Changing paradigms was inevitable. On the new way the government embarked Conservatives led by Margaret Thatcher, came to power in May 1979 The new government immediately began to place - Niya the ideas of economic liberalism, aiming to reduce the state's role in the economy, strengthening the function tions of market self-regulation mechanisms. Aim was to reduce and then strictly controlled, Immunized rate of monetary growth, lower rates of taxation - supply and reduce the tax control over the operation - eat market, abolish price controls and wages. At the same time adopted such anti-inflationary measures, as shorted State loan private sector, limiting government spending in general. As a result already in 1982-1983,. inflation fell to 5% per year. Then they increased slightly. Another important direction monetarist reforms in Britain - at a significant rate reduction, and in some industries and the complete elimination of the public sector. It expressed in a wide range of denationalization and stimulating private business. Private firms sold rich mo.

Market economy.

Peculiarity of the economic recovery in Western Europe mid 80-ies are its harmony and balance - sirovannost. Positive developments have occurred in many macroeconomic parameters: the rapid growth of GDP and pro - industrial production, reduction of unemployment, falling inflation, stable exchange rate of national currencies, forcing export earnings growth of entrepreneurs and real income, tax relief, reducing budget deficits. The workshops European Economic Commission, held in 1986-1990 years. in Geneva, the experts noted with surprise that real economic growth in Western Europe usually exceeded their previous best-optimistic skie forecasts and expectations. Data on growth rates of major macroeconomic indicators in the main Western European countries under consideration. During the period from 1984 to 1990 the combined GDP of western Europy increased by 22%, the fund personal consumption - at 23, cap - investments - at 34, industrial production - by 23, employment - toast - on 8,5%, the unemployment rate decreased from 9,6 to 7,2%. During these years, Western Europe once again significantly improved its position in the global economy, especially in vneshneekonomi - political frameworks. Positive balance of payments reached across the region nearly 200 billion dollars In addition to quantitative indicators should be considered accelerated growth of production efficiency in the Western Europe on the basis of deepening its intensification. In particular, higher rates and reduced material capital intensity of production. By reducing the rate of inflation and money supply underwent a process of equalizing the rate of growth of prices on the country - us. Thus, in the early 80-ies the dispersion of prices in the group most developed countries (the deviation of inflation from the average country level of growth for the group of countries in general) was in the EU about 8%, by 1990 this figure had fallen to 3%. Fallen off gap in the rate of monetary growth in EEC countries with 4,1% in the early 80-ies up to 2,6% in 1989 is an important indicator for Towards a "Common European Economic Space. The economies of Western Europe The unification of Germany raised the need for reorientation - tatsii large part of the financial resources of Western Germany to support the market transformation to territory of the former GDR. For these purposes in 1991 was direction Leno about 125 billion marks, or 4.5% of GNP in Western Germany is NII. The cash flow continued in subsequent years, he continues, and now, although in a considerably reduced scale. The unification of Germany great cost not only the West - Noah Germany (increased its budget deficit declined exports), but the whole of Western Europe: increased unemployment and inflation, balance of payments deteriorated and Budget effectiveness of budget deficits. But only in the short term. In the long - emergency plan is reunification of the two Germanys essentially reinforced the new Germany, the EU and all Western Europe, has new markets, additional resources. Subsequently economic development of East Germany was proisho - dit even more rapidly than the West.

EU will deposit the customer data banks U.S. agencies.

The European Union intends to provide the U.S. virtually unlimited access to the data of the European banking customers, reports DW-World, with reference to the newspaper Financial Times Deutschland. In the disposal of the newspaper got a draft treaty with the United States, prepared by the Government of Sweden, currently chairing the EU. According to this document, the American special services, leading the fight against terrorism, continue to be able to legally obtain data on international and domestic remittances from within Europe. The draft treaty stresses that the demands the U.S. side must be justified and the maximum specified. However, if such a request will not be formulated clearly, the order of U.S. intelligence data will be transmitted to the package, including name, address, account number and passport banking client. According to the Financial Times Deutschland, the Americans will have access not only to the data of the Belgian company Swift, a majority of international money transfers in the EU, Africa and the Middle East, but also to data of national companies engaged in remittances. Sweden intends to ensure acceptance of this agreement before December 1 will enter into force on the Lisbon Treaty, which provides the European Parliament the right to vote in matters of justice and domestic policy, said the agency AFP. European ministers are expected to adopt the document on November 30. Agreement on access to bank data of Americans Europeans will be in effect until January 2011. After this contract will be renewed with participation of the European Parliament. Foreign ministers of EU countries have opened the way for the signing of the agreement in late July 2009. American investigators with the server in the United States track down the names and addresses of Europeans engaged in translation, ever since the terrorist attacks on Sept. 11, 2001. The new agreement requires them, because the Europeans continue to banking data will be stored only in the EU.

Vatican will open the secrets of the World Wide Web

Thursday largest Internet experts - leaders Google, Facebook, YouTube and Wikipedia - are going to introduce the representatives of the Vatican with the innermost secrets of the World Wide Web. As the London newspaper The Daily Telegraph, it will encounter a completely different worlds. Virtual community of experts try to explain the top representatives of the Catholic clergy from all over Europe, how best to take the achievements of the XXI century, to convey message of the Catholic Church to the hearts of believers and, possibly, nonbelievers. According to the British newspaper, the Vatican appears now to the society is not in the priglyadnom form, and, thus, its image needs to be improved. The newspaper is referring to the position of the Catholic Church on condoms and the Pope's decision to rehabilitate a British bishop who denies the Holocaust. In the course of a four-day conference, representatives of the social network Facebook, the search engine Google, YouTube video portal and the online encyclopedia Wikipedia will explain to representatives of the Church of the importance of "new media" in the lives of young people. The bishops also will talk about how we must combat the threat of breaking sites. This will tell them the young hacker from Switzerland and Interpol expert on cybercrime. As stated in the Ministry of Communications, the Vatican - the Pontifical Council for Public Communications, who will arrange a meeting, "the world of hackers - it is a special parallel culture, which the Church is unknown, but familiar to fans of information technology. Conference perfectly complements the aspirations of the Holy See to familiarize churches with modern technology. According to The Daily Telegraph, even the Pope himself uses a laptop and iPod'om.

Prepared TOP most expensive brands in Europe.

European Brand Institute presented its annual survey - Top 50 most expensive brands in Europe. Writes about this today, the newspaper "Delo". The study analyzed the cost of more than 3 thousand brands from 24 countries in Europe. During the crisis, the winner turned out to be trademarks of manufacturers of consumer products, adding an average of 6% of its value last year. Most other brands have increased the value of its brewers. Thus, the newspaper notes, the largest producer of beer in the world - Belgium's InBev - has risen in price by 56%. The third-largest brewer in the world - British SAB Miller - for the period of crisis has added to its brand value 24%; Carlsberg - 21,5%, and Heineken - 14,4%. Lost in time of crisis brands of companies engaged in financial services (an average drop of 24%) and automotive (-9.6%). Title of most expensive brand in Europe the second year in a row belongs to the Finnish Nokia. Following is the French LVMH, which produces luxury goods under the brands Louis Vuitton, Givenchy, Kenzo, Chaumet, Moet & Chandon, Hennessy. Closes three leading Belgian Inbev. The only company from Central and Eastern Europe, which hit the top 50, became Russia's VimpelCom (TM Beeline). In the ranking it took 39 th place with a brand value of 7.9 billion euros. Ukrainian companies are not able to overcome the bar to 6.63 billion euros - is the cost of the brand of French insurance group Axa, which occupies 50 th, the last line rating. The most expensive Ukrainian brands, according to analysts, is a mobile operator Kyivstar. Its cost is estimated to be worth up to $ 6 billion, among the most expensive domestic brands also mentioned Nemiroff and Obolon. Their cost ranges from $ 0,5-1 billion The value of Ukrainian brands, despite the crisis grows. Methods of payment value of brands is based on an analysis of the financial performance of companies, the frequency of occurrence in the media, age and position the brand on the market, as well as the forecast growth of the company and the market.

Monday, November 9, 2009

Unemployment in Europe hit record.

Unemployment in the 27 EU countries and 16 countries of the euro continued to beat records. According to the European statistical agency, in September, unemployment in the eurozone rose by 0.1 percentage points to 9.7% (in September 2008 - 7,7%), the European Union - also by 0,1 percentage points to 9.2% (September 2008 - 7,1%). For the eurozone the September unemployment rate was the highest since January 1999, for the EU - from January 2000. Eurostat data coincided with the expectations of analysts polled by Reuters. According to Eurostat, in the 27 member countries of the Union to date, no work remain 22.123 million people, of which 15.324 million people live in countries of the euro. Compared with September last year the number of unemployed in the EU rose by more than 5 million people. The lowest unemployment rate recorded in the Netherlands (3.6%) and Austria (4.8%), the highest - in Latvia (19,7%) and Spain (19,3%).

IMF: Economic recovery in Europe will be unstable

The International Monetary Fund said on the instability of economic recovery in Europe and calls for measures that will ensure reliable recovery. "Finally, have shown signs of fading of a prolonged recession, but economic recovery in Europe is likely to be slow and erratic," - said the Director of IMF's European Department, Marek Belka (Marek Belka), presenting a briefing on Saturday in Istanbul, an updated review of prospects for the European economy .

Friday, November 6, 2009

The concept of monetary.

Money - the movement of money in cash and cashless forms, serving the realization of goods, as well as non-market payments and settlements in the economy. The objective basis of currency is commodity production, in which the commodity world is divided into commodity and money, giving rise to contradictions between them. With the deepening social division of labor and the formation of national and world markets under capitalism, the circulation of money is being further developed. It serves the circulation and the turnover of capital, mediates the circulation and exchange of the total social product, including the proceeds of various classes. With the money in cash and cashless forms in the process of circulation of goods, as well as the movement of the loan and the fictitious capital. Money is divided into two areas: cash and noncash.

5 November Opel unions begin strike across Europe

Germanic Opel unions called for strikes across Europe in protest against the decision of the American automaker general Motors does not sell Opel Russo-Canadian Alliance Magna-Sberbank. Opel works council head Klaus Franz said that the short "warning strikes" will begin today, November 5, transmits (C) Associated Press. Germany's industrial union IG Metall, defending the interests of the Auto Workers, said that four German Opel factories on Nov. 5 will be suspended work. Opel workers in other European countries follow the example of their Germanic counterparts on November 6. Recall the night before it became known that GM refused to sell a controlling stake Opel consortium Magna-Sberbank. general Motors does of Directors has decided to leave the Opel as a group. GM decision provoked a storm of negative emotions in Germany. Representatives of trade unions considered the decision of GM Opel insulting and even treasonous. At the same time, co-director Siegfried Wolf, Magna said that his company will continue its cooperation with Opel and GM. "We are sympathetic to the discretion of management to keep GM Opel in the company", - said Z. Wolf.

Europe Markets: European investors again sold bonds

Thursday, November 5, at the European government bond market during the day prevailed "bearish" sentiment. The reason for the sales of protective assets found many. First players were selling state bonds on the background of admissions positive corporate news that sharply raise the demand for shares listed on European trading floors. Thus, the largest French bank BNP Paribas announced that its revenues in the III quarter has increased by 45% and Belgium's Delhaize Group reported a profit in the last quarter that exceeded expectations. In anticipation of ad rates of English and European central banks, market participants were not proactive, if somewhat corrected as release of macroeconomic statistics. In the UK, were published rates of industrial production (Industrial Production) and the manufacturing industry (Manufacturing Production). As reported by national statistical offices in London, the activity in the real sector of the economy began to grow. Industrial output in September rose by 1.6% (expected to increase by 1,2%) in August after declining by 2,6%. In annualized decline in September was 10.3% (as predicted). The annual decline in August was 11.5%. As for the volume of manufacturing output, is increased activity in September compared to August was even greater. Thus, compared to August index rose by 1.7% (projected growth of 1,0%), while in annual terms fell by 9,3% (expected to decline by 9,7%). Exit optimistic economic indicators increased the desire of market participants to get rid of the British Gilts and release funds for risky assets. But the economic statistics of the euro zone was not so optimistic, as the British, and therefore increase sales activity of the European bond did not cause. European Statistical Office in Luxembourg reported a decline of retail sales in September. Rate decreases the sixteenth consecutive month amid rising unemployment and falling consumer demand. In September, the decline in sales exceeded expectations and was the highest since October 2008. Instead of the expected growth in retail sales by 0,2% compared to August index fell by 0,7%. In annual terms, sales decreased by 3,6%, while the predicted decline of only 2.4%. Market participants expect the main event of the day - announcements base rates refinance the Bank of England and the ECB. At first his decision to leave its key interest rate unchanged - at 0.5% per year - said the Bank of England. In addition, the agency decided to increase the amount of redeemable bonds to 200 billion pounds, but not to 225 billion, as previously planned. A smaller amount of redeemable debt was the result of the emergence of indications of an early beginning of the restoration, which gives the British economy in recent years. The decision of the British monetary authorities has further strengthened the sales activity of the British Gilts, which led to a significant drop in prices of securities. Later his decision to leave unchanged its discount rate announced ECB. Record low of 1% per annum was not changed by the Office of Jean-Claude Trichet, as experts believe, because of the fact that the next step could tip the economy stimulus package. Meanwhile, published in the U.S. data showed productivity growth in the industrial sector and reduce the number who applied for unemployment insurance. News spurred additional sales of protective assets not only in the U.S., but also on the European markets. Wave of sales of European government debt, streamed after the U.S. economic statistics, has led to reduced prices of many debt securities. As a result, virtually all of the most liquid securities with a duration of 4 years have decreased in price. Yield 2-year Bunds in Germany fell by 1 bp, and 10-year-olds increased by 2 bp The spread between them was 204 bp Results of the trades in government bonds of Germany on the London Stock Exchange at 20:00 Moscow Time: Results of the trades government bonds: Results of the trades by the French government securities: On Friday, November 6, in Germany is expected to yield data on industrial orders (Factory Orders). According to analysts, the September index rose by 1,0% compared to August and fell by 13,6% year on year. In France, the figures will be released the balance of trade (Trade Balance), which is projected deficit in September, amounting to 3 billion euros. Department of analytical information RBC

Crises are compounded

World first time since 1973, feels like the mutual influence of oil prices and food prices. Prices for corn, soybeans and meat surged this week to its maximum, while the price of oil reached nearly $ 140 per barrel. On Sunday at a meeting in Jeddah (Saudi Arabia), ministers of various countries, as expected, will express its opinion on the heavy burden of high costs of oil and food, which affects developing countries. Saudi Arabia is the world's largest producer of oil and yet even she admitted there was a danger after the developing countries, including U.S. ally Pakistan has turned to her with a request to postpone the date of payment for oil. Morocco was forced last month to seek $ 800 million loan to Saudi Arabia and United Arab Emirates in order to mitigate the impact of imports of oil and grain. In Washington, said: "We see that China, India, Indonesia, Vietnam and Malaysia simply can not tolerate such a burden on the central budget and the fact that the merger price of oil and food has too much influence." He added: "This leads to a real threat to security, when the streets of the excitement begins. Martin Bartenstein, Austrian Minister of Economy, who will be present in Jeddah, said on Friday that the risk of social unrest caused by high oil prices and an increase in inflation to double-digit will be his main argument. "This is a very important issue on the agenda" - said one European diplomat.

The European economy is improving - EU

The European economy has stabilized and even improved, says EU Commissioner for Economy and Monetary Policy Joaquin Almunia. However, the EU economy remains uncertain and the risks that should be taken into account in the next 2 years, leading European officials said the agency Bloomberg. At this point improvement in the economy of Europe primarily due to government measures to stimulate and stabilization in emerging markets, said Mr. Almunia, transmits Finmarket. According to him, in 2010, continued deterioration in the European labor market, the weakness of the banking sector continues. Potential growth in the next two years is about 1%, believes AG Almunia. This year, the 27 EU countries increase GDP will show only Poland. The economy of all major trading partners of the EU finally restored in 2010-2011.

Poland is losing ground on the gas map of Europe

EU and Ukraine have jointly decided to upgrade the pipeline is inexpedient, to which Poland receives 25% of Russia's gas. With financial support from the EU, Ukraine modernize virtually all its gas network, but these repairs will bypass the pipeline, according to which Poland receives gas transit through Ukraine. According to the head of the Institute of energy Research, Poland, Andrzej Sikora, Europe sees no prospects for the Polish-Ukrainian gas integration, thereby Poland is losing its role on the gas map of the continent, writes Dziennik Gazeta Prawna.

Sunday, November 1, 2009

London remains the business capital of Europe.

London remains the business capital of Europe: it is in the 20 th consecutive time recognized as the best city for business, according to the study of European Cities monitor consulting company Cushman & Wakefield. Thus in 2009 the British capital was increased separation of Paris, occupying the second place in the ranking. Frankfurt tries to defend its position in the third line under the onslaught of Barcelona (4 th), the appeal which in the past 20 years, growing steadily in the eyes of the leaders of 500 leading European companies participating in this survey. Barcelona is also considered the best city for for quality of life. The mild climate and proximity to the sea increased the attractiveness of the city. Nevertheless, it is believed that Barcelona, as the Spanish capital Madrid (6 th place in the rating) behind many other European cities for the development of telecommunications, said the agency Xinhua. Prosperous business center in Europe believe Warsaw. This year pressed the Polish capital of Moscow's second largest city, where businessmen are planning to expand presence in the coming years. Go seven positions in the ranking rose Birmingham - to 21-th place to 14 th. On the last line in the list of business centers in Europe - Athens, on the penultimate - Oslo. For all that London is still considered a very expensive city, but of the recent fall in the value of office real estate creates new opportunities, say respondents. In general, the leader of the rating demonstrates the advantages of all three criteria are counted in the study: access to markets, availability of skilled personnel and the possibility of communication (physical and electronic). The report of the World Bank's Doing Business Report 2010 United Kingdom as a whole was also recognized as the best city for in terms of doing business. In the world ranking country was awarded the 5-th place, like the British Board of Trade and Investment UK Trade and Investment. Among the companies that have opened this year's offices in London - the largest Chinese banks China Merchants Bank (Commercial Bank of China) and China Construction Bank (Construction Bank of China). Indian State Bank of India in September, also announced plans to expand its network in London and other British cities. The British capital is attractive not only for financial companies. In London are the main European offices of the Chinese group Alibaba.com, working in the field of electronic commerce, the Japanese canon and the American Coca-Cola.

Production Ford Kuga crossover will transfer from Europe to the U.S.

Manual of the American automaker Ford plans to shift production Kuga compact crossover from Germany to the United States.Produce cars in America cheaper than in Western Europe, the magazine notes "the wheel". Falling dollar and cheaper labor costs help to reduce the company, reports the agency Bloomberg. Since October 2011, assembling Ford Kuga establishing a company in Louisville, Kentucky. Every year 80 thousand cars will be sent to European countries.

U.S. Foreign Policy: Where exit?

Communism and authoritarianism have failed, therefore, free markets and free elections are the answer to all questions. Market democracy, which so conveniently was promoted by globalization, was supposed to bring peace to the family of the productive, peaceful states. Instead, after the collapse of the Soviet Union was followed by numerous economic crises outside the West, the genocide in Rwanda and the former Yugoslavia, multiplying fundamentalism as poisonous anti-Americanism and, finally, the attack on the World Trade Center and the Pentagon. Place neoliberalism took neoconservatism. The neoconservative doctrine was based on aggressive use of American military machine, with international approval or without it, and this war machine was used to eliminate certain regimes and the formation of other (which became known as the "nation-building"). If Sept. 11 put an end to neoliberalism, the nightmare in Iraq did the same with neo-conservatism. Then came the economic crisis of 2008, which was the final blow for both. Neoconservative power depended on the grand affordable wealth, with which it was possible to maintain American military power outside the United States. Neo-liberal economics assumes that American capitalism will create this wealth. Today, both she and the other doctrines have failed, but politicians do not know what to do. The recent avalanche of publications on foreign policy, trying to predict and create the next big movement. Among these researchers, only a very few are optimistic portend continued world dominance of America. Thus, the famous historian Niall Ferguson, author of "Rise of money," argues forcefully that write the U.S. off too early. In his essay, written earlier this year for the journal The American Interest, he wrote that American business does not just overcome the devastating economic crises with the help of technological innovation, citing the example of RCA, DuPont and IBM since the Great Depression, and Microsoft and Apple in 1970 -- ies. Ferguson also said that no matter how terrible the U.S. credit crisis has not seemed to be inside the country, its "economic impact abroad is much more powerful." George Friedman, founder of private research agency Stratfor and author of "The Next 100 Years" even more positive attitude towards the future of America. Dramatically, Friedman said that "the United States is far from decline and, in fact, only begun its ascent. Promoting his own, maybe old-fashioned point of view, Friedman wrote that the naval force is vital, even in the XXI century. Since the U.S. control and the Atlantic and Pacific Oceans, they are "virtually guaranteed to world domination." But much more expert on U.S. foreign policy negatively related to trends in the United States. Perhaps the most probative work in this direction is sharp manifesto Andrew Bacevich "Milestones of power: the end of the American unusualness. Subjecting to severe criticism of American wastefulness and delusional belief in the military invincibility, Bacevich requires a foreign policy based on humility and realism. One of the most interesting arguments Bacevich is that the astronomical cost of war in Iraq - and not only unmanaged hedge funds and loans to unreliable borrowers - directly affected the financial collapse of 2008. He writes that by 2007, the U.S. command in Baghdad spent the $ 3 billion per week. In the same year, the total cost of the war in Iraq has surpassed $ 500 billion. Bacevich also criticized the Obama administration. He wrote that his national security team recruited from the "establishment of stereotyping. It considers a range of measures to stimulate the economy, Obama's proposals, as well as the readiness to send additional troops to Afghanistan, an ominous symptom of the ongoing "self-destructive behavior." And yet, despite such a different point of view, speaks volumes of the fact that all major thinkers actually offered to return to something past. Critics of the Bush and Cheney represent these eight years as an extraordinary deviation from the original American principles. Supporters of the Bush administration's present their new recommendations as meeting the earlier periods of prosperous American foreign policy. Colorful example is the neo-conservative Bush supporter Robert Kagan, now returning to the ideas of the Cold War. In his book "The Return of History and the end of dreams", he wrote that on the international arena "returned the competition between the great powers." As during the Cold War, the key opponents of the free world are Russia and China, while other states' increasingly stronger stand on one side and socialises themselves with one or the other camp. " Kagan openly nostalgic for the era of the Reagan administration. Criticizing similar Kagan neoconservative Bacevich also calls for the return of a Cold War strategy, but he speaks of "containment" strategy. Bacevich calls the U.S. "let Islam be Islam. As a result, Muslims find flaws of political Islam, as well as the Russian opened the shortcomings of Marxism-Leninism. " Similarly, allusions to the return conductors of the Cold War can be found in essays L. Gelb "Regulation of force: how common sense can save the American foreign policy." Gelb, formerly led by the Council on Foreign Relations, said that the policy of containment and deterrence little valued as an instrument of policy, although she has played the most significant role in the American victory in the Cold War. He argues that "deterrence helped in almost all cases, when heads of state used its clear and firm. So far as Bacevich and Gelb stressed the need of restraint from the United States, the other pushes his views on something like neovilsonovskoy policy: a return to multilateral relations, global partnerships and soft power. This theme is the main motive for such works as "Post-American World, F. Zakaria," The Great Experiment: the history of ancient empires, modern country and the search for world state "by S. Talbot, and" The Second World: As developing countries establish a new international competition in XXI century "P. Hanna. And what about the Obama administration? Richard Posner, whose latest book is called "The collapse of capitalism" is the current policy of "envy of Roosevelt." This may be some truth. As the White House Roosevelt, the Obama administration, it seems, seeks to immediately revive internationalism, to reconsider regulation of the economy and spend a lot of money to get out of the economic crisis. However, if any political bloc and is a reflection of the prevailing public opinion, it is likely to Neo-isolationism: a return to isolationism, a characteristic of American politics after the First World War when the U.S. refused to join the League of Nations. While intellectuals appeal to cosmopolitanism, more and more Americans are opposed to outsourcing, against foreign products, against immigration, against international law - and for protectionism. According to a Gallup poll conducted in February 2009, nearly half of Americans are foreign trade, the threat of the economy ", and 65% are convinced that the government" too much "spending on international support. Perhaps it is not so bad that almost nobody in the areas of foreign policy does not put forward anything new. Foreign policy - it is not modern dance, time-tested strategy here may be better than the avant-garde and innovation. However hard to believe that in today's world with its unprecedented threats and striking differences between the ideas of the elite and the broad public opinion, the American way forward means a return to the past.