Wednesday 17 March 2010

Saint Patrick's Day (Irish: Lá Fhéile Pádraig).



Saint Patrick's Day (Irish: Lá Fhéile Pádraig). And start to put unaltered article from Spiegel. In rubric ‘A Prayer from the Death Bed’. 03/17/2010. “Great Britain Stars in Its Own Greek Tragedy.” Greece's budget deficit is impossibly high. But Great Britain's is even higher. Prime Minister Gordon Brown has his work cut out for him in this election year -- and the coming cuts will be painful.
For the darkest hours in the fight against Adolf Hitler, the British Ministry of Information -- which existed for the duration of World War II -- had set aside a special poster. Intended to bring calm to the home front, it depicted the crown of King George VI against a red background, with the words "Keep Calm and Carry On" printed beneath the image. The situation never became sufficiently desperate to justify using the poster, and the millions of copies that had been printed were stored away unused. Ten years ago, a bookseller discovered a single copy and hung it up in his shop. That may well have been the end of the poster's career, but then the country was suddenly faced with multiple crises: terrorist attacks, a banking debacle and, finally, the economic and credit crisis. The bright-red poster now hangs in the offices of directors and members of parliament, in soldiers' barracks and student dormitories. Entire ministries are using it to boost morale, and framed versions of the posters are even said to grace the walls of No. 10 Downing Street and Buckingham Palace. If only keeping calm and carrying on were that easy this time around. The British pound is tottering. The economy finds itself in its worst crisis since 1931, and the country came within a hair's breadth of a deep recession. Speculators are betting against an upturn. Instability in the banking sector has had a more severe impact on government finances in Great Britain than in other industrialized countries. London's budget deficit will amount to £186 billion (€205 billion, or $280 billion) this year -- fully 12.9 percent of gross domestic product.
Than, the Khodorkovsky questions for the Prime Minister. Mr. Khodorkovsky says he wants to ask the Russian premier the following:
* Your prosecutors claim I ran Yukos not as an official chairman, but as the leader of an organised criminal group. When you discussed Yukos's problems with me, with whom did you think you were talking?
* Your prosecutors accuse me of stealing Yukos' production from 1998 to 2003. When you, in 2003, personally congratulated Yukos for its successes in commercial and social activities, is this what you were referring to?
* When you announced to the country in February 2003 that Yukos had no problems with the tax authorities, and that everything had been regulated, what taxes were you talking about, given that your prosecutors say that all the oil had been stolen?
* Your prosecutors say I stole Yukos's oil, while your representatives in Strasbourg [Yukos is suing Russia at the European Court of Human Rights] say Yukos sold its oil, but did not pay enough tax. Which is lying? Why is it Rosneft paid the same per tonne of production, but your tax authorities have no complaints about Rosneft? Than begin speak about what exactly happen with the financial ministers of “eurozone”. Curious how today all of them transform themselves into an ‘invisible spies’. Reason for such reaction lie in the Alternative Investment Fund Management (AIFM) Directive and with the all of theirs (ministers) importance we now must to wait for G-20 to perceive some things useful for “our” Greek Tragedy. This does have nothing new. Only this time, I’m like that “french sprinter”, - half night was with big effort to calm down my heart pit which with this shock (To dream that you receive a shock represents a sudden awakening and new awareness. Tachycardia condition - To dream of an electrocution, signifies that the current course of your actions will lead to disaster, even death. You need to be more aware of your surroundings and those around you.) - was a long hours in Tachycardia Condition. It’s obvious that this World lost the “geographical position” of my heart. The one more reason, my “dear” friends of 500 million consumers,: - “Keep Calm and Carry On”. Not only because I can’t use the BMW, (it’s what exactly the bankers went to tell me in the middle of the night), it’s the hedge funds hedge funds have contributed to asset price inflation and the rapid growth of structured credit markets. The abrupt unwinding of large, leveraged positions in response to tightening credit conditions and investor redemption requests has had a procyclical impact on declining markets and may have impaired market liquidity. Funds of hedge funds have faced serious liquidity problems: they could not liquidate assets quickly
enough to meet investor demands to withdraw cash, leading some funds of hedge funds to suspend or otherwise limit redemptions. The more or less what’s start to happen in the late of 2007. On the other hand, is the other straw in the “policy-makers” and “CV brokers” possession, - the private equity funds. Okay, they not contribute in such extent to increase macro-prudential risks. But for the “Boca the Raton” of G-20 is the same “что в лоб, - что по лбу”.

EU hedge fund curbs delayed after the intervention of Gordon Brown. A dramatic eleventh-hour intervention by Gordon Brown saw controversial EU legislation to curb the powers of hedge funds dropped from the agenda of a top finance ministers meeting on Tuesday.Published: 9:58PM GMT 16 Mar 2010The ECOFIN gathering of finance ministers from the 27 EU states had been due to debate the Alternative Investment Fund Managers (AIFM) directive but it was removed from discussion.

Medida válida até 30 de Junho. Bruxelas aprova prorrogação das ajudas estatais portuguesas à banca. A Comissão Europeia aprovou a prorrogação do prazo das ajudas estatais portuguesas ao sistema financeiro, designadamente o mecanismo de apoio à recapitalização das instituições de crédito.“A Comissão considerou que a prorrogação desta medida, inicialmente aprovada em 20 de Maio de 2009, está em conformidade com as suas orientações sobre medidas de apoio aos bancos durante a crise financeira”, adianta a instituição, em comunicado. Em causa está alinha de quatro mil milhões de euros criada pelo Governo para, em caso de necessidade, ajudar os bancos a reforçar os seus fundos próprios, na sequência da crise financeira e do aumento das exigências em termos de rácios de capital – desde o ano passado, que o nível mínimo para o rácio de adequação dos fundos próprios de base (“tier one”) passou a ser de 8%. Até agora, esta linha apenas foi utilizada pelo próprio Estado para concretizar o aumento de capital de mil milhões de euros realizado na Caixa Geral de Depósitos no ano passado.

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