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About uztopride

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  1. And when they were only halfway down They were neither up nor down.
  2. Key Details of ESM Article 8 says "Authorized Capital stock 700 billion Euros" Article 9 says "ESM members irrevocably and unconditionally undertake to pay capital calls on them within 7 days" Article 10 allows the ESM board of governors to "change the authorized capital and amend article 8 accordingly" Article 27 says ESM shall enjoy "immunity from every form of judicial process". Thus the ESM can sue member countries but no one can challenge it. No governments, parliament or any other body or laws apply to the ESM or its organization. Article 30 says "Governors, alternate governors, directors, alternate directors, the managing director and staff shall be immune from legal process with respect to acts performed by them (...) and shall enjoy inviolability in respect of their official papers and documents"
  3. Sir Mervyn King, the Bank of England's Governor, will be questioned next week by an influential panel of MPs on the Monetary Policy's Committee's decision to inject more money into Britain's ailing economy. He has been called by the Treasury Select Committee to give evidence on Tuesday on the second wave of quantitative easing, voted for unanimously by the MPC . The MPC said it would buy a further £75bn of assets as the risks to economic growth outweigh concerns about high inflation, which hit 5.2pc in September. Andrew Tyrie, chairman of the Treasury Committee, said: "The Bank of England has taken a major step by resuming quantitative easing. The Committee will appreciate an opportunity to have an explanation for the decision from the Bank. The Governor has kindly agreed to come before us on Tuesday morning. Sir Mervyn and Charles Bean, a deputy governor at the Bank, will be asked to explain in detail its decision to undertake more QE. "Among the issues the Committee wants to discuss are the effectiveness of QE, the case for using the same tool a second time, and the respective roles of the Treasury and the Bank in implementing measures to stimulate the economy," said Mr Tyrie. The Bank has estimated that QE had a peak effect of boosting output by up to 2pc, and increased UK household wealth by about 16pc principally by lifting share prices. It cautioned, however, that any future asset purchases would not necessarily have an impact on the same scale.
  4. In a symbol of how much the world had changed since the easy-credit days of the property boom, the people who ended up first owning Updown Court were the Irish taxpayers rather than a foreign billionaire. Irish Nationwide had provided funding totalling as much as £63 million as part of the project, and when that lender went bust, it was nationalised by the Irish government and Updown Court became part of Nama (National Asset Management Agency) — the newly-created 'bad bank' designed to get as much money as it could from investments unwisely taken on by banks at the heyday of the credit boom. Nama slashed the price from its initial £70 million to £35 million, and has now reportedly sold the property to an Indian businessman. My link
  5. In Greece more than 100,000 people who have been claiming state pensions over the last few years have not come for re-registration in a census, head of the IKA pensions insurance fund Rovertos Spiropulos said Friday. That means that Greece may have suffered losses up to 1.5 billion euros annually paying pensions to the people who had no right to it. As part of its pension reform Greece conducted a census of pensioners from July 1 till September 30. The authorities were surprised with the results because 109,000 pensioners did not show up for the registration. My link
  6. Slovakia's rebel isn't a nationalist: he's the hero of all discontented Europeans At the weekend, he laid out his arguments with Germany's Speigel Online - and every answer was one that plenty across the eurozone wish their own leaders would say too.
  7. Even a Slovak 'Yes' will make no difference. What the Slovak debate has shown us yet again – as if the political storm in Germany over the last two months has not been enough – is that escalating bail-outs are nearing their political limits. The traumatic affair almost brought down the German government. It has in fact brought down the Slovak government. You can’t keep doing this. Democracies are not to be toyed with. The EFSF’s €440bn firepower – or €300bn after Greece, Ireland, and Portugal have taken their bites – is not enough. We can argue over headlines. Willem Buiter at Citigroup has called for €2.5 trillion, RBS and the European Parliament have called for $2 trillion. So even when the Slovaks fall on their sword, nothing will have been resolved. A reluctant ECB will remain the only credible lender-of-last resort standing behind EMU, in breach of the Lisbon Treaty. Its actions already face a challenge at the European Court. Mr Sulik is right. The EU-IMF rescue loans have not helped Greece pull out of its downward spiral. They have pushed the country further into bankruptcy. Greek public debt will rise from around 120pc of GDP to 160pc under the rescue programme, and the IMF is pencilling in figures above 180pc. The rescue loans have rotated into the hands of creditor banks, life insurers, pension funds, and even a few hedge funds. ECB bond purchases have allowed to investors to dump their holdings at reduced loss, shifting the risk to EMU taxpayers. It is a racket for financial elites. A pickpocketing of taxpayers, including poor Slovak taxpayers. "I’d rather be a pariah in Brussels than have to feel ashamed before my children," he said. Bravo.
  8. Slovak parliament rejects EFSF in first vote, govt falls Slovakia's government lost a confidence vote called on a plan to bolster the euro zone's EFSF rescue fund, but the package was expected to go through in a later re-vote because the outgoing prime minister planned to ask for help from the opposition.
  9. Slovakia block an expansion of Europe's financial rescue program.
  10. "You are very close to bankruptcy," Real News quoted Fuchs as saying in an interview. "We can not agree to a 'haircut' without terms and conditions and therefore, Greece must give up something, like some of its national sovereignty -- at least temporarily," added Fuchs, who is also the chair of the influential CDU small business group in parliament. "I am personally not absolutely convinced that this (euro zone membership) is the best long-term solution for Greece to become quickly competitive," he added.
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