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Saturday, March 3, 2012
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German Chancellor Angela Merkel after the summit (AFP). Jpg
Brussels, Tokyo, Athens - AFP, Reuters - signed 25 European countries yesterday Treaty fiscal discipline new to avoid slipping into deficit, but they began to pose major problems for many of these countries, which took place again in the economic crisis, mainly Spain and the Netherlands. And adopted a treaty, demanded by Germany in return for financial solidarity with its partners in the euro area, 25 of the 27 EU member, while not approved by Britain and Chikhia. The president of the European Union Herman Van Rompuy during the signing ceremony on the last day of the European summit in Brussels, said that «this important stage to enhance confidence in our Union Economic and Monetary».
The Treaty provides the «golden rules» impose the balance of public accounts, in addition to sanctions imposed automatically on countries that tolerate their inability to overcome the limits of the annual general three percent of GDP. But even before the entry into force of this Treaty, the economic conditions deteriorate further and deflation in the euro zone, raising doubts about the strength of the budget that plans to impose the treaty, while the states have found themselves forced to confront their public finances beyond the limits of the required balance.
The beginning of the week Spain announced its public deficit rising to 8.51 percent of GDP in 2011, while pledged to cut the deficit to 4.4 percent this year, and three percent in 2013, but it is trying to soften the target which it is committed. The Spanish Minister of Finance Louise de Madrid Gindos that «would honor all its commitments in the field to correct the budget, but circumstances have changed, and the economic situation is very different from last year». But the surprise came from the Netherlands, which was among the first to criticize the lax financial partners, which now find themselves obliged to provide additional financial because of the significant deterioration in economic conditions than expected earlier. The European Commission called on the day before yesterday firmly Liberal government Dutch headed by Mark Roth, to respect its commitment in this area, after the deployment of the Central Bureau of planning economic forecasts indicate the decline following the reconsideration, and show that the deficit will exceed three percent for the last year, reaching 4.5 per percent this year and 3.3 next year and 4.1 percent in 2014.
The spokesman said the Commission that the Netherlands was a militant in respect of strengthening the rules of control budgets in the euro area, it is natural that it would apply the same approach in its policy. The other countries will soon face difficulties in correcting its finances on time, with the possibility to Brussels to remember to return to the system, as is the case in France. He believed the Court of Accounts at the beginning of February last that the budget deficit to reach 4.5 percent this year would be difficult to achieve, and to return to three percent next year will be more difficult. If it was necessary to soften the rules a little bit of the Netherlands and Spain, would result in the results is calculated, and could anger countries like Belgium, which found itself forced to put corrective budgets in conditions very painful, leading to weakening of the Treaty.
Returned to the European Union the day before the election of Herman Van Rompuy as President of the Federation for a second term of thirty months and expanded his power to become president of the euro area. Rompuy and became a dual task, because it will cost from now on President shall preside at regular summits of the leaders of the 17 euro-zone only. Rompuy night and announced the day before yesterday, that the EU decided to grant Serbia candidate status for accession to the bloc in recognition of its efforts to achieve reconciliation with Kosovo and the arrest of Ratko Mladic.
New members
To the leaders decided to postpone the possibility of accession of Romania and Bulgaria to the agreement «Schengen», which allows traveling through European countries without a passport, until September next, because of opposition from the Netherlands, which sees that the two countries have yet to make any progress in the control of their borders, and therefore in the fight against corruption.
The Minister of Finance of Japan, John Izumi yesterday, said that buying Japan more than bonds issued by the Fund financial rescue for the euro zone will depend on the actions to be taken by Europe to solve its debt crisis, stressing that his country bought so far 15 percent of the total bonds issued by the Fund, the European Financial Stability. He pointed out that his country's contribution to increasing the IMF's resources will depend also on what Europe will take steps to resolve its crisis.
To the first Greek police announced yesterday that a man shot his former boss at work and another factor, Vosabhma injured and detained two other people hostage in a small factory north of Greece to protest the loss of his job. The man was released later for a two hostages and surrendered himself to the police, after besieging the factory.
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Saturday, March 3, 2012
Related Nodes:
German Chancellor Angela Merkel after the summit (AFP). Jpg
Brussels, Tokyo, Athens - AFP, Reuters - signed 25 European countries yesterday Treaty fiscal discipline new to avoid slipping into deficit, but they began to pose major problems for many of these countries, which took place again in the economic crisis, mainly Spain and the Netherlands. And adopted a treaty, demanded by Germany in return for financial solidarity with its partners in the euro area, 25 of the 27 EU member, while not approved by Britain and Chikhia. The president of the European Union Herman Van Rompuy during the signing ceremony on the last day of the European summit in Brussels, said that «this important stage to enhance confidence in our Union Economic and Monetary».
The Treaty provides the «golden rules» impose the balance of public accounts, in addition to sanctions imposed automatically on countries that tolerate their inability to overcome the limits of the annual general three percent of GDP. But even before the entry into force of this Treaty, the economic conditions deteriorate further and deflation in the euro zone, raising doubts about the strength of the budget that plans to impose the treaty, while the states have found themselves forced to confront their public finances beyond the limits of the required balance.
The beginning of the week Spain announced its public deficit rising to 8.51 percent of GDP in 2011, while pledged to cut the deficit to 4.4 percent this year, and three percent in 2013, but it is trying to soften the target which it is committed. The Spanish Minister of Finance Louise de Madrid Gindos that «would honor all its commitments in the field to correct the budget, but circumstances have changed, and the economic situation is very different from last year». But the surprise came from the Netherlands, which was among the first to criticize the lax financial partners, which now find themselves obliged to provide additional financial because of the significant deterioration in economic conditions than expected earlier. The European Commission called on the day before yesterday firmly Liberal government Dutch headed by Mark Roth, to respect its commitment in this area, after the deployment of the Central Bureau of planning economic forecasts indicate the decline following the reconsideration, and show that the deficit will exceed three percent for the last year, reaching 4.5 per percent this year and 3.3 next year and 4.1 percent in 2014.
The spokesman said the Commission that the Netherlands was a militant in respect of strengthening the rules of control budgets in the euro area, it is natural that it would apply the same approach in its policy. The other countries will soon face difficulties in correcting its finances on time, with the possibility to Brussels to remember to return to the system, as is the case in France. He believed the Court of Accounts at the beginning of February last that the budget deficit to reach 4.5 percent this year would be difficult to achieve, and to return to three percent next year will be more difficult. If it was necessary to soften the rules a little bit of the Netherlands and Spain, would result in the results is calculated, and could anger countries like Belgium, which found itself forced to put corrective budgets in conditions very painful, leading to weakening of the Treaty.
Returned to the European Union the day before the election of Herman Van Rompuy as President of the Federation for a second term of thirty months and expanded his power to become president of the euro area. Rompuy and became a dual task, because it will cost from now on President shall preside at regular summits of the leaders of the 17 euro-zone only. Rompuy night and announced the day before yesterday, that the EU decided to grant Serbia candidate status for accession to the bloc in recognition of its efforts to achieve reconciliation with Kosovo and the arrest of Ratko Mladic.
New members
To the leaders decided to postpone the possibility of accession of Romania and Bulgaria to the agreement «Schengen», which allows traveling through European countries without a passport, until September next, because of opposition from the Netherlands, which sees that the two countries have yet to make any progress in the control of their borders, and therefore in the fight against corruption.
The Minister of Finance of Japan, John Izumi yesterday, said that buying Japan more than bonds issued by the Fund financial rescue for the euro zone will depend on the actions to be taken by Europe to solve its debt crisis, stressing that his country bought so far 15 percent of the total bonds issued by the Fund, the European Financial Stability. He pointed out that his country's contribution to increasing the IMF's resources will depend also on what Europe will take steps to resolve its crisis.
To the first Greek police announced yesterday that a man shot his former boss at work and another factor, Vosabhma injured and detained two other people hostage in a small factory north of Greece to protest the loss of his job. The man was released later for a two hostages and surrendered himself to the police, after besieging the factory.
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