Sunday, May 31, 2015

Trial, Greece negotiates an agreement with creditors – La Voz del Interior

Athens. Greece seemed to go in the run up to a basic agreement with creditors and technical advances are expected after the prime minister, Alexis Tsipras, look for political support Germany and France.

Throughout the weekend there was no official information, but some interviews and leaks that suggest that in recent days really was progress in negotiations with the so-called “institutions” that integrate “troika” (European Commission, European Central Bank, International Monetary Fund).

According to local media, the Greek government drafted a first draft agreement, which would include the points on which there is consensus and that Tsipras was to present to the German Chancellor, Angela Merkel, and French President Francois Hollande by teleconference.

Hollande and Merkel are due to meet in Berlin today with President of the European Commission, Jean-Claude Juncker meeting could serve to give political impetus to the agreement with Athens

Following a meeting of the government’s economic team that lasted more than eight hours on Saturday, official sources spoke of a “general improvement in critical issues” , but acknowledged that there were still some points that need to be clarified.

According to information from the Greek news agency Amna not confirmed officially, in the negotiations in Brussels there is convergence of views on the thorny issue of value added tax (VAT), restricting early retirement and the gradual unification of the pension funds.

The debate on VAT had become one of the key issues in recent days, as the partners had proposed a reform of revenue that includes annual revenues of 1,800 million euros, while the Athens government offered a proposal that ensured only raise about 800 million euros.

The Interior Minister Nikos Vutsis as saying Saturday in an interview with private television station Skai that the government hoped to finally achieve an agreement this week, hinted that this commitment will postpone some of the election promises of Syriza.

“Some parts of our program could be delayed six months or maybe a year,” Vutsis.

deferred Promises

The minister gave no details on what might be the measures would be delayed but in recent weeks several ministers ahead of the controversial property tax should be abolished this year in its current format, shall remain in force until the next. Moreover, among the promises, according to media, may not apply for now would be to eliminate the tax of solidarity created at the outbreak of the crisis, or to restore the exempt tax base 12 000 euros a year (currently paid taxes from the first dollar of income).

The purpose of Athens is the minimum commitment that can be closed in the coming days will serve to facilitate the disbursement -at least partially shaped 7,200 Rescue million and also includes a reference to a future debt restructuring and an investment package.

To Tsipras these are two crucial points so that Greece can return to growth and two also key messages to to obtain the support of Syriza in a parliamentary vote. Tsipras needs to reassure its ranks not only on this issue but also regarding other decisions that the government has taken in recent weeks and have not liked by many Members of Syriza.

One It was the appointment of Lambis Tagmatarjis as CEO of the new public broadcaster (ERT), which garnered harsh criticism from the unions of the public body, as well as deputies of Syriza to be someone who has already played that role for the government Social George Papandreou, signer of the first rescue.

The most recent protest, this time even by some members of the government itself, was against the appointment of the social democratic party Pasok exmember, Elena Panariti, representing Greek at the International Monetary Fund. Panariti, appointed by the Finance Minister Yanis Varoufakis, had worked at the World Bank and as advisor to the president of Peru Alberto Fujimori.

with a two-speed Europe

Proposal. The French Minister of Economy, Emmanuel Macron, who will present this week with his German counterpart, Sigmar Gabriel, proposals to the European debate, advocates a two-speed Europe, a more integrated with the countries of the single currency, and another that includes the rest. Macron made his argument in an interview published yesterday by Le Journal du Dimanche.

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Poverty, the reflection in the mirror of Venezuelans – Weather

Correspondent

In March this year, the Government said that income poverty had dropped to 19%

In March this year, the national government said income poverty had dropped to 19% Photo: File

Caracas will be “accused” of many charges. Including: prevent children and young people educated, encouraging the development of crime, reduce life expectancy and even blamed for the deaths of billions of people worldwide. True or not accusations, governments around the world, the United Nations (UN) and more than a thousand institutions and associations the adversan. Your name? Poverty.

Poverty is what, a little over two years ago, seen Venezuelans of all strata, when they look in the mirror. His appearance, or rather its resurgence, is closely linked to the loss of purchasing power. It is that in the last 24 months, the purchasing of goods and services of Venezuelans has fallen precipitously.

27.3% homes Venezuelan swelled the income poverty line in 2013, according to the National Institute of statistics.

“In an inflationary environment such as Venezuela, all those who are near the poverty line (the line method income) are in risk of becoming poor. And in general, all citizens, regardless of the stratum to which they belong, are losing quality of life, “said sociologist Genny Zúñiga, a member of the Institute of Economic and Social Research of the Catholic University Andres Bello (UCAB), and coauthor of Survey of Living Conditions 2014 (Enconvi 2014).

Castles in the air

The spell ended. Firm pledges made by President Hugo Chavez, and has repeatedly insisted his successor Nicolas Maduro are plummeting to the view.

The Survey of Living Conditions (ENCOVI) 2014 study conducted between August and September 2014, by the Catholic universities Andrés Bello (UCAB), Central de Venezuela (UCV) and Simon Bolivar ( USB), it revealed that the achievements in poverty reduction, both of which boasted Chavez two years of rule by Maduro, in the best of cases, vanished. And, at worst poverty he won the war on the Bolivarian revolution.

In 1999, when Chavez took office, 43.9% of households were poor Venezuelans revenue per line, according to the National Statistics Institute (INE) . ENCOVI 2014 revealed that, after 16 years, the number of poor households by line revenues were 48.4%; that is, there are now poorer than when the leader of the Bolivarian process began his crusade against the scourge.

The National Statistics Institute (INE) measures poverty through two methods:. Line income (LI) and unsatisfied basic needs (NBI)

The first calculates the ability to acquire the food basket and the basic basket of household rules. The second considers access to education, overcrowding, housing conditions, access to basic services and the degree of economic dependence. The agency estimates that each household is made up of five people.

What now?

“The social situation, as measured by levels of income poverty, brings us to the one we had in our worst years (1989, 1992 and 2003). Most troubling is that the social consequences of the recession are just beginning, “warned the specialists in charge of the LSMS 2014.

As Zuniga, the other authors of the survey associated the increase from poverty to the situation (economic and social) crisis in the country and are concerned that the phenomenon could be extended and deepened in 2015. As inflation continues to rise and wage adjustments, as they have been until now , remain inadequate, purchasing power will continue to decline and more households could enter the income poverty line.

The alarms were fired not only by the authors of the LSMS 2014. In fact, the findings of the Venezuelan Education-Action in Human Rights (PROVEA) Program are slightly above those reported in the study.

“We estimate that last year the number of poor households by income exceeded 50%. The poverty figures that are occurring today in Venezuela suggest that the number of poor in the country is similar to that was in 1998. We are in decline in this area, “said research coordinator, media and broadcasting organization, Inti Rodriguez.

As academics in charge of the LSMS 2014 Provide fears that the deepening economic crisis in the country to launch income poverty in many more homes 2015

“What has happened in Venezuela is a major increase in recent poverty (33.02% of poor households by income are in that category),” experts in charge of the ENCOVI 2104.

The recent poverty is no more than the indicator showing how many Venezuelan homes no longer enough monthly income to buy the basic food basket . There are millions. And the prognosis is to be a few million more in 2015 if the picture does not change.

The risk on which experts warn that the situation of these new poor, due to the situation facing the country, can also be aggravated if the salary is no longer enough to meet basic needs. Then they are become structurally poor. “And the structure is difficult to eradicate poverty in the short term,” said Zuniga.

“Tragedy” for young people

José (name changed at the request of the source) graduated at the Central University of Venezuela (UCV) with honors. He was 22 when he graduated from the higher education system and expectations of improvement. Now 25, he works full time; but still dependent on their parents.

He says it clearly: “The salary does not reach me. If I had to live alone, which would earn just enough to pay for a room, I could not eat. ” There are many Joseph in Venezuela, but nobody knows how many, because there are no official statistics.

In the country there are those who have traveled more than a stretch. Housewives, parents and, in general, people who managed to improve their standard of living through years of work and now, with insufficient monthly income received, come to poverty “smile at” the other side of the mirror, all days.

In the first two years in office of President Nicolas Maduro, the minimum wage has increased 174.58%, while the Food Basket Family (CBF) increased 321 , 97%, according to the Center for Documentation and Social Analysis of the Venezuelan Federation of Teachers (Cendas-FVM).

“There are households with an income that is very close to the poverty line. When there is an inflationary impact as we had become poor. The middle class is the one that is always hardest hit by these processes. If you are rich you have a heritage that allows you to stay. But if you have a cushion to face extreme conditions, and that you add hostile conditions of life, how you doing? That is a tragedy in the case of young people who are just gaining independence, because if they become independent really can not raise their status. There is no capacity for independence, “Zuniga said.

The forecasts are not encouraging. The International Monetary Fund (IMF) projected that this year the Venezuelan Gross Domestic Product (GDP, production of goods and services) will drop 7%, while inflation closed at 96.8%. Other estimates put inflation more over the three digits.

ENCOVI 2014

Living Conditions Survey 2014 is a diagnosis social, national, conducted by Andres Bello Catholic universities, Central of Venezuela and Simon Bolivar. The research results are the product of a survey, a questionnaire composed of more than one hundred questions, which were performed in just under 1 000 500 households across the country. The field work was conducted during the months of August and September 2014. The last major effort to lift a social survey in the country did the public sector in 1998, coordinated the National Statistics Institute (INE). The most recent (2014) was in charge of the academy.

Figures evenings

The National Statistics Institute (INE ) it is in default. Spread the month of May 2015 and the agency has not yet made public the figures for poverty last year.

The latest available data corespond to 2013. This was denounced the Press and Society Institute (IPYS) two and a half months ago. “By March 19, 2015, the National Statistics Institute of Venezuela, under the Ministry of Popular Power for Planning, has not released figures of poverty in 2014. In its website, the statistics only appear until the second half 2013, “warned the organization doomed to defend access to information in Venezuela.

The official data are far from resembling those published by the universities in charge of the Survey of Living Conditions 2014 (ENCOVI 2014). In 2013, according to measurements made by the INE, 27.3% were poor households by income.

But more dissimilar is the latest government data offered by President Maduro. In March this year, the president said that income poverty had dropped to 19% and promised that 2018 would be zero poverty in Venezuela. The gap between the official data and ENCOVI 2014 is just over 29 percentage points.

Regarding the delay in publication of official statistics, the NGO Transparency Venezuela insisted that “corruption risks are stronger where the citizen is restricted data information managing their rulers.”

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Greek leader talks with Hollande and Merkel on debt – El Nuevo Herald

The Greek Prime Minister Alexis Tsipras said on Sunday a conference call with the leaders of France and Germany to discuss the progress in the negotiations between Athens and its creditors, officials said.

The call made the Sunday afternoon with French President Francois Hollande and German Chancellor Angela Merkel, the second in three days, lasted 35 minutes, “went very well” and agreed that should realize a compromise soon, officials said.

The German government described the discussion as constructive, but did not provide details.

Similar optimistic statements from Greek officials in recent days on “technical talks” held in Brussels have not been pursued.

Tsipras meets with Finance Minister Yannis Varoufakis to discuss the results of the conference call.

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SPAIN: 75% of employers expect employment to grow … – EntornoInteligente

SPAIN <- - AUGURE_NOTICIA_INICIO!>: 75% of employers expect employment to grow from September / Expansion / 76.7% of managers expect employment to grow, 22.3% consider it to remain stable and virtually none believed to fall.

76.7% of managers and entrepreneurs who form the economic consensus panel developed by PwC expect employment to grow in the next six months in Spain, while 22.3% believe it will remain virtually stable, no one believes it will fall.

So pick the Economic Consensus published Sunday by PwC, showing an improvement in forecasts of business, continuing the trend begun in the previous survey, based on the first quarter .

The percentage of managers and entrepreneurs who consider the economic and financial situation of companies is good has increased almost twenty points from the first quarter, from 12.8% of respondents to 31.2%.

In addition, more than half of the experts, 54.4% expect the situation to continue to improve during the next quarter, causing, according to 67.8% of those questioned, an increase in productive investment.

In a similar vein, 70.4% consider that household consumption will grow in the coming months and 47.8% believe it will too housing demand in the remainder of the year.

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The ten reforms that Greece discussed with your creditors – El Universal (Venezuela)

ATHENS Since the arrival of Alexis Tsipras Greek government four months ago, many reforms fail to implement, as the new policy tax.

The complex scenario faced by Greece in its negotiations with international creditors the need for reform adds. Some are campaign promises Tsipras government, others are demands from lenders, reported the website of the German newspaper Deutsche Welle

These are some of the reforms he wants. – and that you will-not push the government in Athens:

1. More than 2,000 million euros estimated that the Greek government will raise through a tax on large estates, as well as through a tax on luxury.

2. The tax law is being tightened. All above 70 euro bills must be paid by credit card. audits and fiscal controls will also be intensified and the existing tax exemptions will be eliminated. In addition, it will strengthen the tax authorities following the American model -Internal Revenue Service, IRS-which acts independently.

3. The other side of the coin: the government is doing a favor for those who owe taxes and allows them to pay their debts in a hundred times, the same goes for debts to social cases. The black evaders who have transferred money abroad will have a last chance to save, on payment of a general tax.

4. Reform of tax and VAT demanded by Greece’s creditors will be accepted in principle, but the details are controversial. Athens wants to implement three different, including the lowest tax levels, 6.5 percent for food, medicine and books. Creditors prefer the existence of two tax rates. Payments by credit card will be exempted from VAT.

5. For the government the most important reform is to solve the humanitarian crisis in the country. For this, the Parliament passed a law a few days after the arrival of Tsipras to the government, which includes the distribution of cards to buy food , and immediate measures to assist the most needy. However, the minimum wage increase was postponed until 2016.

6. Privatizations were initially rejected, but now will be analyzed individually. Priority will be selling the port of Piraeus, as well as the acquisition of 14 regional airports across the Frankfurt operator Fraport. The Energy Minister Panayotis Lafazanis, vehemently rejects the privatization of energy giant DEH.

7. The fight against corruption has been declared as a national priority. The government aims to raise 2,300 million euros through combat the illegal trade in cigarettes and gasoline.

8. Reform priority is the issue of new media laws. Existing, according to the government Tsipras, they have favored an intertwining between political and media powers. The reform envisages a regulation of television frequencies and taxation of advertising.

9. Unlike the predecessor government, Tsipras rejected a pension reform that reduces or freeze. also want to relax deficit limits of social cases.

10. Tsipras’s government rejected a labor market reform that allows or promotes flexible working conditions.

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The fund manager Abadi escaped from Argentina 1,300 million … – La Voz del Interior

The Argentine Miguel à ngel ?? Abadi, fund manager GEMS, escaped from his country 1,300 million dollars to 3,500 million are calculated for holders of the 4,040 Argentine taxpayers HSBC accounts in Switzerland listed in the “list Falciani”.

The information was now responsible for the Federal Public Revenue Administration of Argentina (AFIP), Ricardo Echegaray, who in a press conference in Paris said that Abadi used the GEMS background, and that the operation was linked to the bankruptcy of Banco Mayo.

Echegaray, who noted that the financial now resident in the UK, reiterated that his country wants to HSBC repatriation to Argentina of 3,500 million dollars which is known to “a day of 2006″ were in the bank accounts in Switzerland, opened by nationals or residents of Argentina.

Buenos Aires also calls on the Swiss authorities all information on 4,040 accounts of those residents in Argentina that appeared in the list obtained from the files was the Swiss subsidiary of the British bank’s former employee Herve Falciani.

The “number one” AFIP insisted that “it was the bank that structured the maneuver” for its Argentine customers their money to Switzerland will take without declaring it to the tax authorities, as were required, something he called “practices of international piracy”.

Echegaray, who was received in Paris by a senior official of the French tax authorities, is scheduled to meet with former managers of banking “offshore” and advanced that besides the known action against HSBC, “we are very close walking For UBS “(Union Bank of Switzerland).

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Saturday, May 30, 2015

Driving the Toyota Auris: politically correct – EntornoInteligente

Driving the Toyota Auris <- - AUGURE_NOTICIA_INICIO!>: Politically correct / Brand / Now that the word ‘change’ is on everyone’s lips in Spain, Toyota has applied this prescription to the new Auris range, key model in terms of sales in our country, with a weight of one third of its total enrollment . The new offer includes diesel and gasoline art, tweaks to further improve the efficiency of its hybrid version and design changes at all levels.

It’s obvious looking at the pictures that the new Toyota Auris is much more expressive than its predecessor. The extension of the brand logo to the headlights and the new bumper that extends almost to the wheels gives much packaging on the front. The rear is quite groundbreaking and winks and new tire designs bicolor give a touch even transgressor.

But where have thrown the rest in Toyota has been inside, perhaps the weakest point of the car. Now you have a new box of watches, with two tubes for speedometer and tachometer (or electric power meter in the hybrid) and a TFT screen of 4.2 inches between them. The center console is more sophisticated, with a new touch screen 7 “(with buttons rather slow in responding) surrounded by lacquered materials and designed almost like a floating iPad.

The visual aspect has improved pretty: new upholstery, the lower use of hard plastics and new chrome now with a metallic touch plasticky help create this impression. But the dashboard with a horizontal cut ‘master design’ does not help to create a modern atmosphere on board. Of course, everything is very functional: there’s even a slot for mobile conveniently close to the lighter socket and USB connections for plugging into whatever is necessary

Competition for hybrid

Under the hood they will also hide much of the essence of the changes the new Auris, with the renewal of its diesel and gasoline engines. The first is the 1.6 D-4D Toyota Verso released and that is none other than the propellant used BMW and their Mini Series 1. With 112 horsepower, the Auris has been shown, above all, very linear, pushing from below always pretty much “education” without bumps in torque delivery but, yes, it is highly recommended not to stretch too as above is not very ‘chicha’. The course of the test was not the right fit for consumption gauge, so now we have to stay with the 4.2 liter Toyota endorses average.

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Airbus does not question the concept of the A400M – swissinfo.ch

The design of the A400M military transport plane not questioned after the accident in Spain in early May following a happened during examination procedures ruling, considered Fabrice Brégier, Airbus civil aircraft subsidiary Airbus Group.

The German newspaper Handelsblatt on Friday evoked problem installing the control system engines to explain the accident, which left four dead and two seriously injured in Seville on May 9.

“This means that the design of the aircraft must not be put into question,” said Fabrice Brégier in an interview with several French media broadcast this Saturday.

“There has been, indeed, or weakness in the procedures for examination of the aircraft before takeoff, because it was the first flight of a production aircraft, or a problem in the implementation of these procedures, “said the director, recalling that the defense branch Airbus Group, Airbus Defence and Space (Airbus DS), is responsible for the A400M program and therefore of the internal investigation.

Asked about the possibility of incorrect installation of the same type in civil aircraft, the leader stressed that “at the group level, all the findings of such an accident or even be extracted to produce a incident. ” “We have not had, in Toulouse, no problem in the last 20 years,” he added. “There is no structural defect, but we have a serious problem of quality in the final assembly” of the A400M, admitted Friday the director of the Airbus Group strategy Marwan Lahoud.

The loss of the A400M was a further blow for the European program, which accumulated delays and cost overruns.

A total of 174 A400M have been ordered by eight countries: Germany, France, Spain, UK, Belgium, Luxembourg, Turkey and Malaysia. Only 12 are in service today.

Four client countries Germany, Britain, Turkey and Malaysia decided to suspend flights, awaiting the results of the Spanish investigation into the causes of the accident.

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Airbus said that the accident was not due to military aircraft mistake – El Diario Yucatan

         


     

PARIS (EFE) .- The president of Airbus group, Patrice Brégier, said today that the A400M in Seville accident was not due to a misconception of this military aircraft, but the causes were either the procedures of test flights, although the application of these procedures.

Brégier, television and radio questioned in an interview with “itele” and “France Inter” about the fact that an untimely update the software that manages engines triggered the failure which led to the incident, noted that “entry that means the design of the aircraft is not in question”.

Then he added that “there was rather a weakness in the test procedures of the aircraft” since the tragedy occurred on the first test flight of a production aircraft, “rather a problem that came from the implementation of those procedures.”

The “number one” of the company did not explicit mention of failures in the assembly process at the plant in Seville, as if he had suggested the chief strategy Marwan Lahoud, in an interview Thursday the German newspaper “Handelsblatt”.

But confirmation He implied that the fault originated in the ECU software, responsible for regulating engine power according to the signals sent by the pilot, pointing to human error, probably that this program is not properly loaded in the A400M that crashed.

Brégier insisted that teams defense division of Airbus-of which depend on military planes will examine “very closely” all these issues and receive address “All (the) support.”

When asked if an assembly error as it is seen in Seville accident could also occur in a civil transport plane, said Airbus President “We took the consequences every time an accident like this, or even an incident occurs”.

And stressed that “in the last 20 years has not produced any problems in Toulouse”, where tests are centralized civil commercial aircraft.
A400M Airbus had already guessed, before the crash of Seville last May 9 -in which killed four of their employees, a real financial fiasco.
test of this fiasco it is that last February had to establish a new provision in its accounts of 551 million euros to deal with the problems of industrialization, with “bottlenecks” on the ground of Seville.
plane crash It was intended for Turkey, which had previously received other two.
time Airbus has suspended the process of new releases, so that hardly put in the hands of its customers who had scheduled 14 in 2015, including two from early January and were integrated into the military fleets in the UK and Malaysia.
Airbus has delivered so far a dozen units-six to France, two in the UK, two to Turkey, one to Germany and one to Malaysia .
The manufacturer has received orders for 174 A400M, 170 for the seven countries that launched (Germany 53, France 50, Spain 27, UK 22, Turkey 10, Belgium 7 and Luxembourg 1) which program and . the other four for the first export market, Malaysia


               
         <- Social share ->

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SPAIN: Banco Madrid ampl & iacute; his pulse … – EntornoInteligente

<- AUGURE_NOTICIA_INICIO -> SPAIN: Banco Madrid pulse Economy Expands by pension funds / Cinco Dias / Pension funds trapped in Banco Madrid have become the new trench battle between the receivers of the company in liquidation and authorities.

If the National Securities Market Commission ( CNMV) has already announced that it will appeal against the judge’s decision not to transfer the management of the investment funds of the entity are in liquidity, the Directorate General of Insurance and Pension Funds (DGSFP), also under the Ministry Economy remains open now a similar dispute over the future of the pension plans of mutual Forecast National Health (PSN).

Although already more than a month that the DGSFP approved the transfer of 97 8 million euros that PSN has deposited in Banco Madrid to Santander Securities Services (of which the eponymous bank owns 50%) as a new custodian, which would unlock its operations, shipping has not yet become effective.

Both authorities dependent economy as the receivers own hoped this chapter have been closed but the positions were bitter about the future of the 7.9 million euros of these pension plans are recorded in cash Bank accounts of Madrid.

While DGSFP and mutual maintain a similar speech to the CNMV in the case of investment funds and claim that 100% of the capital associated with pension plans must be traded, the entity managers counter that with the bankruptcy law in hand should use these funds in cash to cover losses from creditors in the liquidation process.

The same conflict also extends over part of the nine million of the total amount of pension plans are invested in mutual funds of Banco Madrid. These positions not only be affected by the impairment of assets of the entity on liquidation if not also a part of them, which has not been realized, cash and would also be subject to the same pulse.

In the case of the 1,600 million in mutual funds and Sicav, the receivers finished decreeing its transfer to Cecabank -just excluding culminada- between 240 and 350 million of these instruments are liquidity positions. An amount that the CNMV has already advanced that claim the judge that he be released.

The same fate seems to be waiting for him to pension funds. After Santander yesterday claimed his urgent transfer in the meeting held by the parties, sources familiar with the meeting reveal that the bankruptcy administration pledged to immediately begin operation gradually although its lack of resources but excluding the part again the amount is in cash.

Exhibition PSN for their insurance

Failing to see how the remaining money will be claimed, the mutual PSN is also affected by the 77.8 million of its insurance deposited in Banco Madrid. Of these, 76.4 million are invested in mutual funds of the entity subject to the deterioration of its assets. These funds are in addition to pending its transfer to Cecabank.

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Linde justify the recapitalization of the banks to “save” … – Yahoo Finance Spain

Sitges (Barcelona), May 30 (EFE) .- The governor of the Bank of Spain, Luis María Linde, today defended the recapitalization of banks with money public has had as its primary objective “save depositors” and not to shareholders.

Speaking at the final day of the meeting of the Circle of Economy held in Sitges (Barcelona), Linde has secured if anything characterizes the Spanish crisis is that its leaders have been “investigated or punished.”

In response to a question about the negligence of the banks during this crisis, Linde has admitted that the list of managers the sector under investigation or sanction is “very, very long”, but insisted that in Spain has been held accountable in this regard

.

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Shocking! Propinan brutal guards beat up a young man for his … – Capital Radio 96.7

A shocking YouTube video shows how two security guards propinan a brutal beating of a young man enter “naked” to the subway.

Joshua Stephen, a theater actor 21, was brutally assaulted by two security guards of the Valencia metro, in Spain, in the presence of several witnesses who did not stop screaming. The video was posted on YouTube and generated mixed reactions in social networks.

In their defense, the security members claimed that the young man was “naked”, to wear pants below normal, while the victim said had so “because he was unbelted” reports El Mundo.

One of the passengers recorded in his cell the brutal beating he gave the guards Joshua. The situation caused the angry reaction of other passengers, due to the savagery of the guards, according to the video YouTube .

Because of this, the company Garda, which provides the security services in the rail network, decided to dismiss two officials, reports the portal 24horas.cl.

Similarly, Railways of the Generalitat Valenciana (FGV) opened an investigation into the altercation Thursday . Garbi station

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Prices in Spain moderated its fall to 0.2% yoy in May – Financial Journal

EFE

Consumer prices in Spain fell 0.2% in May over the same month of 2014, with four tenths moderates year decline was registered in April, advanced today the National Institute of Statistics (INE).

This moderation was due to rising gasoline and food, according to the source.

confirmed this data the index of consumer prices (CPI) the next day 12, would be the fourth consecutive month in which the fall in prices, which accumulate for eleven months of decline is moderating.

In monthly rate, the Prices rose 0.5% in May, in contrast to the stability shown in the same period last year (0%).

The Harmonised Index, which measures price developments with the same method in all countries of the euro area shows a moderation in four tenths compared to April, falling to put at 0.3%.

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The ground staff of Ryanair announces an indefinite strike in … – Easyvoyage

transport Published 29/05/2015

STRIKE: The ground staff of the low cost carrier announces an indefinite strike in the service of “handling” Adolfo Suarez Airport Madrid-Barajas from Saturday May 30, protesting “labor conditions, abuses and threats to which they are subject,” as reported by the trade union platform in a statement.

Paros from Saturday

Paros from Saturday
CTA

According to denounce the CTA, UGT, CCOO and CGT unions, the company led by Michael O’Leary plans to cut between 20% and 30% of the wages of workers of ground handling staff, not respecting their collective agreement, after 10 years of work at the airport in different companies. The pay cut coincides with the huge increase in the frequency of flights Ryanair operates from Madrid’s airport and with the opening of nine new routes, because the rate cut AENA.

Also, The airline aims to reduce the fleet leaving care “in two workers per plane, with consequent damage to the passage, as delays”. To this travelers’ complaints about overcrowding in the fingers is added to reduce the time scale.

The different union platforms include the company’s refusal to negotiate with the works council working conditions in the company (quadrants, drafts, vacation, etc.), plus the non-compliance of subrogation (affecting fixed salary and variable), breach of the constitutional right to health care, and the non-application and development of the Law Prevention of Occupational Risks with this group.

The workers have also pointed out the shortcomings witness work uniforms and personal protective equipment, machinery working, and working equipment means “very poor “threatening workers and passengers.

Similarly, the unions seek to denounce” the current poor organizational structure, “holding” management based on the permanent harassment of workers, supported in threatening language, written notifications penalty, photographs while performing their duties, “say the unions in his note, which accused the company of” violating the Disciplinary Regulation itself “.

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Friday, May 29, 2015

The Spanish stock market fell 1.45% for the debt of Greece and the … – holaciudad.com, Fresno

The Spanish Exchange today depreciated by 1.45 percent, weighed down by the generated doubts about whether Greece will reach a deal with creditors before June and after the decline recorded by the US economy in the first quarter.

With the risk premium of 135 basis points, the Spanish IBEX 35 index stood at 11217.60 points today, which ended May with losses of 1.47%, its second consecutive down month.

In addition, the Ibex 35 fell 2.91% in the week, the biggest drop since mid-April, bringing gains in the year are reduced to 9.13%.

At the beginning of the meeting, the Spanish stock exchange and he scampered the rest of their European counterparts, and opted for losses, waiting for news about the negotiations between Greece and its partners and creditors, after yesterday It was known that the expected agreement between the Hellenic country and its partners is far from realized.

Still, the Ibex 35 noon maintained the negative trend, which the rest of the major stock joined European.

The possibility of Greece to reach agreement in the coming days has remained in the air, although there are conflicting positions.

On the one hand, the European Commission believes that as the Greeks have said the deal could be closed in the next week, a date not shuffled from Germany, where Finance Minister, Wolfgang Schäuble, has warned that there are still many things to do.

The Greek Finance Minister, Yanis Varufakis, recalled that the deadline for reaching an agreement is June 30, when the expansion of the second bailout expires.

Also from the US, its leaders today called flexibility to Europe to reach agreement with Greece, a request that is known the very day in which it is reported that the growth of US GDP contracted by 0.7% in the first quarter.

A bad macroeconomic data that caused the US stock markets have started the session lower, which has definitely drawn into the main squares of Europe.

The Paris market was left a 2 , 53%, followed by near Frankfurt, which lost 2.26%; Milan and London 1.05%, 0.80%

In Spain, the great values ​​closed lower: Inditex fell 1.87%. Santander 1.62; BBVA 1.09; Telephone 1.04; Repsol and Iberdrola 1.14 0.80%.

Within the Ibex 35, OHL has been the most bearish session value, after falling 4.66% and any value of this indicator ended positive.

At the meeting in which the euro was trading at $ 1.098 were traded on the Spanish Stock Exchange over 3,600 million euros (3,950 million dollars).

© EFE 2015

© ZGS 2015

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SPAIN: The CNMV wins the race for funds blocked in … – EntornoInteligente

<- AUGURE_NOTICIA_INICIO -> SPAIN: The CNMV wins the race for the blocked funds of Banco Madrid / World / The National Securities Market Commission (CNMV) has had his way in the struggle he had with the receivers of Banco Madrid on blocked accounts in the entity for investment funds, Sicav and pension.

In a statement, Legal and Economic, the management company appointed by the bankruptcy judge, announced that these balances will be included in the insolvency, ie, which is intended to deal with the immediate payment of the creditors, and it will be transferred to the Custodian of the funds.

This is an amount exceeding 250 million euros and remained locked on the receivers who struggled on the one hand, and the CNMV and the Directorate General of Insurance, on the other. The decision means that this amount relates entirely to the participants of the funds, SICAV and pensions, which have not yet been able to recover their investments.

“In accordance with the aforementioned sectoral legislation of the UCITS and pension funds, is admissible separation and consequently cash balances in current accounts can not be held insolvency claims”, have pointed administrators in a statement citing expansion.

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IMF Christine Lagarde said that Greece leaving the eurozone … – Daily Management

Speaking to the German newspaper Frankfurter Allgemeine Zeitung, the head of IMF said this out “would not be a walk in the park “but” probably not “mean the end of the euro.

(Reuters) .- The Managing Director the International Monetary Fund ( IMF ) told a German newspaper that the exit of Greece from the euro zone is possible, but you probably would not be a sign of the end of the single European currency .

A comprehensive solution to the debt problems of Greece was “very unlikely” in the coming days, Christine Lagarde said the newspaper Frankfurter Allgemeine Zeitung, according to the interview.

The sayings contradict statements by Greek officials, who have said they believe they are close to an agreement.

“An output of Greece is a possibility,” Lagarde told the newspaper. The head of IMF added that this step “would not be a walk in the park” but “probably not” mean the end of the euro.

After positive signs of Athens 10 days ago, said, lenders of Greece -the IMF and the European Union – have noted that much work remains to be done.

The Greek government expects to reach an agreement on Sunday with its creditors cash in exchange for reforms. But after months of tortuous negotiations advances are not without a pact Athens risks falling into a debt moratorium in a matter of weeks.

Lagarde also ruled guarantee new loans to the country if there is no agreement clear reform.

“We have rules, we have principles. It can not be an oversight backed half of the program, “he told the paper, adding that this is not something that can be done from one day to the morning.

The official also said he did not think the IMF was responsible for keeping Greece in the euro area. Europe depended take precautions if the EU wanted to avoid the threat of bankruptcy of the country, he said.

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Weather in Greece is over, is there agreement with creditors? – The Economist

From the Government of Alexis Tsipras the relative optimism about the negotiations is maintained and ensure that there is agreement on “most of the issues.”

With the clock pressing Athens, Greece and its creditors face days of frantic trading activity. Since the Government of Alexis Tsipras the relative optimism about the negotiations is maintained, and has said Yanis Varufakis, no agreement “in most cases”, including VAT, and the parties would be “very close to closing the deal.” However, throughout the week Brussels and the IMF have been playing the Greek optimism, at the crossroads of statements of the negotiating process itself.

1. Are you close the deal? Although one sticks to the statements, it is unclear how the negotiations have progressed, although it seems that they have intensified. From the Greek side sold close the deal as a way to lower the pressure (and the flight of deposits) while creditors are more pessimistic. On Wednesday, ministry sources said Greek Finance was working on a draft, from denial end shortly after the Eurogroup. Thursday government spokesman said Gabriel Sakellaridis Athens trust agreement by Sunday, but the commissioner Pierre Moscovici said “we have not traveled three quarters of the way [...] will have to work day and night”. The IMF managing director, also from Dresden, said “we are not at the end of the process.”

2.¿De truth are negotiating? Yes. Since Wednesday there technical level meetings in Brussels, and it is these works of preparation of the agreements most notably Athens. “We hope to complete work in the coming days”. In parallel, yesterday Angela Merkel and Francois Hollande, kept by telephone last night for an hour with Alexis Tsipras, Greek Prime Minister. In Dresden are gathered finance ministers of the G7 (along with representatives of the IMF and central banks) to deal in theory, issues related to growth and tax evasion, while Greece is overshadowing the talks.

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3. Where are the differences? As the Eurogroup, the negotiations are revolving around the labor reform and pension cuts. Athens provides reforms that are not immediate and retroactive, while creditors require actual cuts. Athens on Wednesday said that in the initial agreement to reform the pension system is envisaged. Now the IMF is also party to the agreement and to be endorsed, the fund requires that the Greek finance seem sustainable in the long term: the mandate requires lend money to solvent countries and therefore emphasizes restructuring debt (frowned upon by Europe) or adjustment of public accounts (not like Greece).

4. There’s time? Pretty little. Although it is traditional that deadlines hurry much more than expected, Athens is on the ropes. Friday should make a payment to the IMF 300 billion euros (total payable 1,500 million in June). It is not an ultimatum, because not trigger a debt default immediately and no alternative formulas to circumvent the payment (in fact paid in May Greece from its own reserves). Greece has made it clear that no prospect of agreement will not pay to the fund, to pay salaries at the end of the month. But neither it has much longer. In July that occurred within Greece and creditors to negotiate expires, the IMF should collect outstanding payments and Greece must pay to the ECB (which, in turn, is the one who kept alive the Greek banking). At the end of the month, on 24 and 25 June EU summit there.

5. What do you think the ECB? Draghi has kept open the money tap for the Greek banks survive the flight of deposits (citizens taking out their money from the bank for fear of corralito ) but you can close almost at will, forcing the hand of Athens. According to estimates by Bankinter, emergency loans granted by the ECB amounted to 80,000 million and the Greek banks have to make assets as collateral at the ECB by another 15,000, which would give seven or eight weeks of liquidity (calculating outflows 2,500 million). But if the ECB raises the discount applied to these assets, the time it can withstand the banking gas mask will run out long before

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6. Is leaving the euro a possibility? Athens obviously sells optimism. But creditors are equally cautious, because nobody wants to be the one who broke the eurozone. Since Germany has lowered the tone of the statements. ECB Vice President Victor Constancio, said this week that “you can not expel a country from the euro”. The IMF managing director, Christine Lagarde, said that the breakdown of the euro “is a complicated issue, it will not be a walk in the park”.

fondos@eleconomista.com.mx

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Administrators Bank released funds Madrid – EntornoInteligente

Administrators Bank released funds Madrid / Expansion / The receivers have announced that in the coming days trasarán the fund balances of Banco Madrid was depositary.

The bankruptcy, Legal and Economic Administrators Administrators (Peter Martin Molina) and Data Insolvency (Vera Francisco Vazquez) have announced that the current account balances of pension funds and collective investment instruments (IIC) investment -funds and SICAV- of Banco Madrid out depositary will not enter the mass of the contest, which will proceed to full transfer “in the coming days.”

In a statement, the receivers of Banco Madrid has clarified that the process of transfer of the UCITS and pension funds and other depositories to Cecabank done so far affected only the deposited securities (such as stocks and bonds ) without being transferred monetary balances in checking account held in Banco Madrid last March 25, the date of declaration of insolvency.

The decision was taken after a “thorough” review of applicable legislation, the Bankruptcy Act, the Securities Market Law, the Law on Collective Investment Institutions (CII), Royal Decree and Regulation governing pension plans and funds, jurisprudence and even the doctrine of Spain, according to the receivers.

“In accordance with the aforementioned sectoral legislation of the UCITS and pension funds, is admissible separation and consequently cash balances in current accounts can not be held insolvency claims” indicated.

However, the receivers of Banco Madrid has clarified that the same law requires that cash balances in checking account maintained at a bank in bankruptcy and not from acting as depositary pension funds and UCITS are considered bankruptcy credit, so they will have the same status as the other balances in current and not separate accounts.

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EU gives green light to Juncker plan; background adds € 315 billion – The Economist

The European Union (EU) agreed on the final details of a plan by 315,000 million euros to boost investment and economic growth in the bloc, clearing the way for the first disbursements occur in the fall.

The European Union (EU) agreed on the final details of a plan by 315,000 million euros to boost investment and economic growth in the bloc, clearing the way for that the first disbursement will occur in the fall.

Launched by Jean-Claude Juncker, President of the European Commission, late last year, Juncker called plan aims to attract private funds to help finance projects in Europe to remain off.

risky projects are financed through the European Fund for Strategic Investments (EFSI, for its acronym in English), which will be backed by a guarantee of 8,000 million budget EU for the next three years.

The investment in Europe fell one-third since the financial crisis of 2008, but governments, overloaded and debt, are not in a position to pump money into infrastructure, at a time when his priority is to keep their budgets under control.

After months of negotiations between the European Commission, EU governments and the European Parliament agreed a compromise traders to form the basis of a law permitting the formal start of the plan.

One of the obstacles to agree legislation focused on how much money would come from the EU budget to support the so-called first loss guarantee fund.

The initial proposal from the European Commission projected that 6,000 billion euros would come from funds originally earmarked for research, innovation and infrastructure.

The reached agreement with the European Parliament and representatives of the countries EU provides that the cuts in research and infrastructure were limited to 5,000 million euros.

To maintain the security of EFSI at 8,000 million euros, traders EU agreed to allocate more money from funds Unused the EU budget, which now contribute to guarantee 3,000 million euros, instead of the 2.000 million originally envisaged by the commission.

Jyrki Katainen, curator in charge of the EFSI, held the agreement and urged EU leaders and parliament to formally confirm in June.

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Lagarde does not rule out a Greek exit of the Eurozone – radiofórmula

May 29, 2015

The Managing Director of International Monetary Fund (IMF), Christine Lagarde, said the exit of Greece from the euro zone is “a possibility”, but it will not mean the end of the euro

.

Photo: Reuters

BERLIN The managing director of the International Monetary Fund (IMF), Christine Lagarde, said the exit of Greece from the euro zone is “a possibility”, but will not mean the end of the euro.

In an interview published Friday by the daily Frankfurter Allgemeine said that if Athens finally leaves the euro “will not be an easy road,” but understand that not be the end of the common currency.

The economic situation in Greece and its negotiations with financial institutions managed to monopolize much of the media attention of the meeting of G7 finance ministers, which concluded Friday in Dresden.

The statements of the director IMF Managing highlight the growing impatience of creditors Athens and mark the distance with the government of Alexis Tsipras, who in recent days had been very optimistic a deal in the short term.

“It is very unlikely that in the coming days to agree a global solution achieved. Last week disenchantment reigned again, there is much yet to carve, “said Lagarde.

Despite the possible bankruptcy of the Greek state, the director of the International Monetary Fund rule out a new loan disbursement if before not reached a serious agreement implementation of reforms.

“We have rules, we have principles,” Lagarde said, recalling that the 7000 200 million euros that Greece has not yet received the second bailout will not be delivered until Athens present a list of reforms before the end of June.

He clarified that, in his view, the IMF is not responsible for the fate of Greece. In this regard, he noted that if Europeans want to avoid bankruptcy of the country must “take precautions”.

“When the prerequisites are met, the ECB and the euro countries will give the Greeks a little air to breathe” he said.

The meeting in which finance ministers of the Group of Seven (G7) and their central bankers, along with economic experts and top representatives of the European Central Bank (ECB) are involved, the International Monetary Fund (IMF) and the Eurogroup became a major focus of interest on the talks hinted that the institutions carried out with Greece.

“No one wants Europeans a Grexit” (name called the exit of Greece from the euro zone in the political and journalistic jargon), Lagarde said.

Notimex


 
 
 

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Investors pulled out of Spain 19,400 million euros compared … – EntornoInteligente

Investors pulled out of Spain 19,400 million euros compared to 900 a year ago they injected / Information .com / Investors pulled out of Spain 19.400 million in March, compared to 900 million injected in the same month of 2014 and 800 million released a month earlier, according the balance of payments published by the Bank of Spain.

The output or input of capital is a balance that is to take into account that Spanish investors are investing abroad and what foreigners spend in Spain in the same month.

In the accumulated the first quarter, investors have pulled out of the country 14,900 million euros, representing an increase over the 14,500 million euros that took in the same period last year.

For the breakdown of data The 19,400 million were taken in Spain in March are due almost exclusively to the 21.900 million who left the country for portfolio investment and 300 million in other investments (loans, repos and deposits, mainly).

However, in March 1600 Spain entered billion in direct investments and 1,300 million euros in financial derivatives, which could not offset outflows in portfolio investment produced.

The Bank of Spain said that generated net outflows in portfolio investment were due to divestments of non-residents in Spain and mainly to increased investment of residents abroad, while outputs on other investments were a result of increased investment by residents abroad, which exceeded by non-residents.

However, the net liability position of the Bank of Spain against the outside was expanded in March 2015 up to 16.600 million euros.

Over the past year, investors pulled out of Spain 8,200 million euros, compared with investments amounting to 73,600 million euros made during the financial year 2013, thanks to the improvement of the Spanish economy and increased confidence in it, which led the markets to inject this amount in Spain after 2012 take out 173.191 million euros.

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Increased government spending boosts GDP of Spain in the first … – Financial Journal

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