Νέα αναδιάρθρωση του ελληνικού χρέους, αυτή τη φορά με συμμετοχή των επίσημων πιστωτών, αλλά όχι της Ευρωπαϊκής Κεντρικής Τράπεζας, 150...
Όπως υποστηρίζει το περιοδικό, το οποίο κυκλοφορεί αύριο, «η τρόικα ανέφερε ότι η Αθήνα ξεκίνησε μόνο το 60% των απαιτούμενων μεταρρυθμίσεων, για 20% επί του παρόντος διαβουλεύεται, ενώ 20% εκκρεμούν». Επιπλέον, στο έγγραφο της τρόικας απαριθμώνται 150 νέες μεταρρυθμιστικές προτάσεις, τις οποίες πρέπει να εφαρμόσει η Αθήνα, μεταξύ των οποίων η χαλάρωση των μέτρων προστασίας από απόλυση, η υποχώρηση του κατώτατου μισθού και η κατάργηση ορισμένων επαγγελματικών προνομίων.
Η τρόικα, σύμφωνα με το Spiegel, πρότεινε αναδιάρθρωση του χρέους για τον δημόσιο τομέα, γεγονός που, εάν συνέβαινε, διευκρινίζει το περιοδικό, «θα κόστιζε για πρώτη φορά πραγματικά χρήματα στους φορολογούμενους». Η πρόταση συνάντησε ωστόσο, σύμφωνα με την ίδια πηγή, την αντίδραση της γερμανικής πλευράς, αλλά και άλλων κρατών, οι εκπρόσωποι των οποίων δήλωσαν ότι δεν επιθυμούν να χάσουν τα χρήματα που έχουν διαθέσει για την χρηματοδοτική στήριξη της Ελλάδας. Μιλώντας, εξάλλου, στην Γερμανική Ραδιοφωνία, ο υπουργός Οικονομικών της Γερμανίας Βόλφγκανγκ Σόιμπλε δήλωσε πρόσφατα ότι το Βερολίνο αντιτίθεται κατηγορηματικά στην προοπτική ενός ακόμη «κουρέματος», αλλά θεωρεί ρεαλιστικότερο ένα πρόγραμμα επαναγοράς χρέους.
«Η ΕΚΤ, η οποία διακρατεί περίπου 40 δισεκατομμύρια ευρώ σε ελληνικά κρατικά ομόλογα, επειδή της απαγορεύεται τέτοια μορφή κρατικής χρηματοδότησης, λέγεται ότι δεν θα συμμετάσχει στο κούρεμα του χρέους, είναι ωστόσο διατεθειμένη να διαθέσει τα κέρδη της από τα ελληνικά ομόλογα, καθώς επαναγόρασε τα χρεόγραφα πολύ κάτω από την ονομαστική τους αξία και με την λήξη τους θα πληρωθεί για την ονομαστική τους αξία», επισημαίνει το γερμανικό περιοδικό.
Στην ίδια ενδιάμεση έκθεση, σύμφωνα Der Spiegel, η τρόικα επαναφέρει προτάσεις προκειμένου «η ελληνική κυβέρνηση να υποχρεωθεί σε μεταρρυθμίσεις για δημιουργία «δεσμευμένου» λογαριασμού, στον οποίο θα κατατίθενται οι δανειακές δόσεις και για νόμο, ο οποίος θα προβλέπει αυστηρότερο έλεγχο της δημοσιονομικής πολιτικής. «Αν η Αθήνα δεν εφαρμόζει, όπως συμφώνησε, τις μεταρρυθμίσεις, θα αυξάνονται, για παράδειγμα, αυτομάτως οι φόροι», τονίζεται, ενώ σε ό,τι αφορά την πρόταση για επιμήκυνση του ελληνικού προγράμματος κατά δύο έτη, η Ευρωπαϊκή Επιτροπή και η ΕΚΤ την κοστολογούν στα 30 δισεκατομμύρια, ενώ το ΔΝΤ στα 38 δισεκατομμύρια ευρώ. Η τελική έκθεση της τρόικας για την Ελλάδα αναμένεται, σύμφωνα με το περιοδικό, να παρουσιαστεί το αργότερο στις 12 Νοεμβρίου.
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ΑπάντησηΔιαγραφήDomino effect of Grexit could cause global 'wildfire'
by Thomas Fischer and Thieß Petersen
25 October 2012
tudy finds that a Grexit from the eurozone would be economically bearable – but if it caused a domino effect leading others to leave the single currency the situation would run out of control
Greece's future in the eurozone is still vague. International creditors are not willing to take final decisions before the report of the troika is on hand. If the assessment of the country's reform performance should be negative it might follow that foreign lenders suspend their financial support. In that case Greece would suffer sovereign default. In order to be able to pay government employees and other entitlements, the Greek government would have to introduce a new national currency and thus leave the eurozone. This development – sovereign default and introduction of a new currency – could be the starting point for a deep global economic crisis. This is the conclusion of a study carried out by Prognos AG on behalf of the German Bertelsmann Stiftung.
The described scenario of a Grexit would have severe economic and social consequences for the country itself: a massive devaluation of the new Greek currency, rising unemployment, sharply declining domestic demand and more. In Greece alone, the ensuing losses of growth, measured by real gross domestic product, would amount to €164bn or €14,300 per capita over a period from 2013 to 2020. In countries outside Greece the sovereign default would result in large-scale write-offs, both for government budgets and private debtors. Hence public expenditures on goods and services would decline as well as private consumption and investment. The volume of production and employment would diminish. Nevertheless, for other countries the economic consequences of a Grexit would be economically bearable.
Η ΟΠΛΑ
Μην σας τρομάζουν εδώ είναι η διαπραγμάτευση αρκεί να υπάρχει Πολιτικός με ΑΡΧΊΔΙΑ να την επιβάλει μέσα στην Ευρώπη....
ΑπάντησηΔιαγραφήHowever it is by no means guaranteed that Greece's exit from the euro would not trigger a disastrous domino effect. A Grexit might translate into a loss of investors' confidence in Portuguese, Spanish and Italian capital markets. In that case rising interest rates could sooner or later provoke sovereign defaults in these European Union members, too. Such domino effects would have much more far-reaching economic consequences. The group of countries affected would not be restricted to Europe, but also include the United States, China and other emerging countries. If Greece, Portugal and Spain fell bankrupt, declines in growth in Germany would increase to €850bn by 2020. In the US, it would mean a loss of growth to the extent of €1.2 trillion and in the 42 of the most important industrial and emerging countries worldwide it would result in losses amounting to €7.9 trillion.
In the worst case, if the euro crisis were to reach the point where Italy had to secede from the eurozone, too, the situation would run completely out of control. This scenario would eventually lead to severe international recession and global economic crisis. By 2020, growth losses in the 42 countries analysed by the study would reach a total of €17.2 trillion. In absolute terms, France would suffer from the highest losses at this point of €2.9 trillion followed by the USA, China, and Germany.
What are the political implications of these model calculations? At first glance a sovereign default of Greece and a Greek exit from the eurozone seem to have only minor economic effects on the world economy. But taking a closer look, a Grexit could spur capital market speculations inducing sovereign defaults in Portugal, Spain and finally in Italy. And this in turn would send the world economy into a deep recession that would heavily affect not only Europe, but the rest of the world as well. Apart from the fierce economic consequences of such a worldwide recession, such a worst case scenario would also put major strains on the social fabric and political stability of a number of states. Apparently, this would particulary apply to the countries that would have to leave the eurozone. But other states would feel dramatic strains, too.
Even if there were only a comparatively small risk that a Grexit might turn into an economic, political and social wildfire spreading all over Europe and beyond, this risk still ought to be sufficient to expect the international community of states – not only the European ones – to make all efforts to keep Greece in the eurozone.
Thomas Fischer and Thieß Petersen work out of the German Bertelsmann Stiftung. The report Economic impact of Southern European member states exiting the eurozone can be found here
Read more: http://www.publicserviceeurope.com/article/2646/domino-effect-of-grexit-could-cause-global-wildfire#ixzz2Adr56Qty
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ΑπάντησηΔιαγραφήTax havens 'a drain' on scarce financial resources
by Sophia Garfield.
Tax havens not only promote large scale tax evasion across the globe but can have a devastating impact on emerging economies that do not have the necessary resources to mitigate the loss of revenue
Tax havens are those jurisdictions or countries that have liberal taxation policy – and there are four major determinants endorsed by the Organisation for Economic Cooperation and Development that qualify a country or jurisdiction as such.
These are as follows. First, they levy little or no tax at all. Second, they do not share taxpayers' information with other countries and are basically non-cooperative. Third, they hide the details of people depositing money in their banks and financial institutions – that is, they lack a transparent taxation system. And fourth, they do not ask for any valid documents or proof against a particular activity.
In its description of these four factors, the OECD explains that transparent taxation systems guarantees fair and honest implementation of tax laws. This helps relevant revenue collection authorities to decide a taxpayer's legitimacy in filing tax returns. Moreover, the OECD is trying to come up with a bilateral agreement that will see an exchange of financial information from tax havens to other countries.
However, this exchange will only happen when a country sends a formal request to a particular tax haven. The terms of the agreement will not break taxpayers' fiscal confidentiality, and defend the laws meant to guard taxpayers' rights. Meanwhile, the OECD's fiscal affairs committee dropped a clause about unwarranted activities as one of the determinants in labelling a country as a tax haven. These unwarranted activities were thought to be part of countries' policies to attract huge numbers of foreign direct investments.
Tax havens promote large scale tax evasion across the globe. This is a threat to a country's financial stability and drains whatever financial resources it may have. As per the approximation done by the United States senate, tax havens are costing the US treasury around $100bn every year. This is a result of businesses and high net worth individuals operating out of the US. The story is pretty same in other countries as well, where the losses incurred amount to several billion euros.
Η Ο.Π.Λ.Α
29 Οκτ 2012 2:15:00 π.μ.
ΑπάντησηΔιαγραφήΟ/Η Ανώνυμος είπε...
Μην σας τρομάζουν εδώ είναι η διαπραγμάτευση αρκεί να υπάρχει Πολιτικός με ΑΡΧΊΔΙΑ να την επιβάλει μέσα στην Ευρώπη...
The problem of tax evasion is much bigger and more devastating for the emerging economies. These economies do not have the necessary resources to mitigate the loss of revenue to the tax havens. Research group Global Financial Integrity estimated that as much as $1.3 trillion is lost through illicit capital outflows from developing countries each year, with major tax implications. This money is siphoned off to tax havens as well as to wealthy nations. Moreover, it has been found that high net worth individuals own around $10 trillion of financial assets overseas.
It is a myth to only think of tax haven as an avenue of tax evasion or illegitimate cash flow. The root cause for the rise of so many tax havens is the lack of a centralised financial regulatory system that can track down the flow of money from one place to another. People opt for these places in order to get relief from tax laws applied in their own state. As a result of the spurt in illegitimate cash flow to the tax havens, several economies around the world suffered from recurring cash crunch.
In all the G20 summits held in Washington, Pittsburgh, London and Toronto, the need for a transparent taxation system and the struggle against transfer of money to tax havens, served as the leading topics for discussions. During the past few years, the OECD has finally attempted to come up with a globally accepted regulatory system that will ensure better exchange of information and minimise the flow of cash to the tax havens.
Read more: http://www.publicserviceeurope.com/article/2334/tax-havens-a-drain-on-scarce-financial-resources#ixzz2Adtv9e9P
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