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Friday, 29 March 2013

PRESIDENT HOLLANDE INTERVIEW


The Prime Time television "interview" of President Hollande last night, was planned to enable him to explain his difficulties in the present context of a World recession.

The general impression afterwards was twofold;
 
   a) There was nothing new in what he said last night,

   b) He pushed back the expected delivery date to end 2013, before he expects to be able to fullfill on the promises he made before his election and since to become President in May 2012 !!!

To put it mildly, 72% of those who watched the interview, were left stunned and frustrated, that he did not explain clearly, or more clearly, what he was going to do to solve their current problems like unemployment !

There are many subjects which were not discussed.  Were they purposely avoided ?  He said there was a worldwide recession, which would "unlock" at the end of 2013 !!!  Then his "promises" together with his "Box of tools"  (tricks ?) which he has carefully prepared, France would be ready to face the future !!!

This gave a "pie in the sky" impression !!!  President Hollande was quick to avoid any great discussion of the EUROZONE and its treatment of CYPRUS.  Perhaps he wanted to distance himself from Mrs Merkel ?

Political parties in France are all critical of his performance.  He himself is not flustered !!!  He knows he still has more than four years before the next Presidential election !!!
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Thursday, 28 March 2013

FRANCOIS HOLLANDE: SATISFAIT !


Ce soir sur FRANCE 2, FRANCOIS HOLLANDE avait "tout entendu", "tout compris", "tout prévu" et mis  les outils en place...  Le Président semblait satisfait.

De sa longue intervention on retiendra surtout un catalogue des mesures déjà prises, l'annonce d'un allongement de la durée des cotisations retraite (travailler plus longtemps...) et d'une réduction des allocations familiales pour les familles disposant de hauts revenus.
 
Mais une nouvelle fois, le Président de la République ne nous aura pas donné l'impression d'avoir pris la mesure de la situation, des inquiétudes et du mécontentement des Français.
 
Toujours un peu flou, le Président n'est pas parvenu à transmettre l'énergie indispensable pour surmonter la crise économique et sociale. 

DML

EUROZONE STUDIES CYPRUS PLIGHT


The conditions imposed on Cyprus by the EUROZONE to benefit from a "bail-out" are draconian !!!

However, not all is lost !!!  The EUROZONE "executive"  is certainly closely watching, if not spying, to learn about all the details of the real problems Cyprus is at present having to confront !!!

Cyprus is like a Guinea Pig, which is normally used in scientific experiments !!!  This time, however,  the experiment is Financial !!! 

The immediate reactions of Jeroen Dijsselbloem, the Chairman of Meetings of Eurozone Financial Ministers, after their last meeting, were on the nail !!!  He said the principles of the Cyprus "Bail out" could in future be applied to other similar problems. However such an approach would entirely change previous principles employed by the EUROZONE !!!  His reactions were  quickly dumbed down afterwards !!!

Would such a change not benefit the EUROZONE ?  The whole world is now watching, but not just the "Mighty Powers" of the EUROZONE !!!  They are watching closely the Cypriot guinea pigs who are now really suffering !!!
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Tuesday, 26 March 2013

EUROZONE AT LAST, CHANGES ITS PRINCIPLES !!!


After the eternal discussions concerning the "bail out" of little Cyprus everyone was confused by the few details leaked about the conditions.

Matters became clearer after the new Chief of the EUROGROUPE stated that "if you take risks you must assume the consequences" !!!  Jeroen DIJSSELBLOEM was speaking directly about Banks in particular.

These new principles will be particularly welcomed by Germany and its taxpayers.  Likewise this Blog has always questionned the financial justification of bailing out countries (like Greece in particular) when their past errors of judgement or lack of control needed to be bailed out by German taxpayers and those of other countries like France.

The sole objective and justification has always been to save the face of the EURO !!!  Due to this it was also necessary to save the sacred Banks and the Bonuses of their Directors !!!

Jeroen DIJSSELBLOEM was severely criticised after his explanation.  It was unexpected but necessary and very  creditable.  To stop banks gambling on the movement of shareprices is possible !!!  In future they cannot expect to be bailed out if their gambles make huge losses !!!

However, this future policy is perhaps too late to change the errors of the past and the solutions proposed for Cyprus !!!
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Monday, 25 March 2013

CYPRUS AND EUROZONE FAIL TO FIND THE SOLUTION TO THE CRISIS.


The problem changed early this morning (after the "agreement" between Cyprus and the EUROZONE) when "Cyprus" apparantly accepted a 10 billion Euro Loan and also accepted to "tax" bank deposits of more than 100 000  Euros.

The full details of this "agreement" are not, at this present moment, decided or available for the public.

In good English, the situation is as clear as mud !!!

The legal situation has changed, even if only slightly !!!The Eurozone obliges Cyprus to tax only "Big" deposits above 100 000 Euros !!!

1)  Are the Human Rights of a few clients with much larger deposits not infringed because not "all" loans to Banks are taxed ? 

2)  Does the Eurozone have the right to oblige Cyprus to impose such a tax ?

Cyprus has, it seems, also vowed to guarantee loans below 100 000 Euros (essentially to residents) even if they are not insured !!!

All these problems appear to have a legal aspect which could end up in a court case. They must be quickly covered in the "Final Agreement" before depositers of large amounts take action !!! 

These depositors are perhaps "Billionaires" but,  what have they really done wrong ?  If anything, such accusation must also be proved !!! 

Perhaps all they did wrong was to choose the "wrong tax haven" before Cyprus lost control of its finances, with bad loans to Greece for example ?

This is now a "wait and see" situation !!!  Let's wait to see what the final "agreement" says !!! 
                          .
  

Sunday, 24 March 2013

EUROZONE HANDICAPPED BY GERMAN ELECTION PROBLEMS ?


Suddenly the EUROZONE has a crisis on its hands, just because it cannot decide to rescue tiny CYPRUS from its financial Crisis with about 15/20 Billion euros of loans !!!

More than 200 Billion euros were quickly found to bail out Greece.  Other countries were also bailed out.  The accounts provided by Greece to join the Eurozone were subsequently found to be flawed, inaccurate !!!

Yet now, suddenly, Cyprus has been refused help.  The problem is simple.  Either Cyprus gets reasonable help or it will be obliged to leave the EUROZONE.  If the EUROZONE conditions are too stringent one cannot expect Cyprus to accept them !!!  Abandoning the EURO would be a more favourable solution for Cypriot voters.

What seems to weigh heavily with German supporters of the EUROZONE and its ultimate aims, is that Germany has a General Election in October 2013.  Will Angela Merkel still be the Chancellor afterwards, or not ?

Or will Germans signify that they feel they have already paid enough for this costly EUROZONE ideal ?  Is the Golden Rule of 3% appropriate in the current financial world depression ?

Up until now other countries have been bailed out !!!  Is it little Cyprus who must teach the EUROZONE the reality of what indepence means ?
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WILL UNO FIGHT, OR DECLINE THE FIGHT, AGAINST DRUG BARONS ?


One year ago this blog published an article inviting UNO to intervene in the "Drugs Trade" problems, which was then obviously causing mayhem in numerous cities all over the world.

There are "Producer Countries" and "client" countries !!!

Nothing has been done !!!

UNO has no army, that is quite clear, but only because the Security Council is rendered useless by countries which use their "Veto" !!!

Without changing its rules UNO will remain the Ununited Nations Organisation it has become, incapable of influencing the decisions of its member countries !!!

UNO is also incabable of controlling any Al Quaida attacks !!!

What are the plans of the Secretary General of UNO, Ban Ki-moon ?  To change the rules of UNO to regain control of its member countries ?  When ?
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Friday, 22 March 2013

THE CYPRUS SOLUTION ? A FINANCIAL DEAL WITH RUSSIA ?


The conditions of any possible deal between Cyprus and Russia must be closely scrutinized by Britain and Germany.  It could give Russia a foothold inside the door of the EU !!!

British troops are present in Cyprus, whereas Russia must at this very moment fear that its connections (preferred position) near Syria, are endangered.

Cyprus needs a quick fix !  In the opinion of this Blog, Cyprus does not need this quick fix with either the EUROZONE or RUSSIA !!!  It should simply, unilaterally, withdraw from the the EURO and then readopt its previous currency, (the piastre).

Cyprus could then declare that all foreign currency assets and liabilities must be given a local currency value expressed in Piastres.  The next step would be to declare a devaluation of the new Piastre by at least 40 %.

The effect of such a chain of events would be to put the Cypriot Economy on an even keel without any help from the EUROZONE or Russia.  

The Tourist industry in Cyprus would suddenly become much more attractive to foreigners, not only to Oligarchs but also to normal tourists !!!
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SARKOZY-CAHUZAC, MATCH NUL !


Jerome Cahuzac, ministre du budget de François Hollande, était mis en examen mardi 19 mars et aussitôt démissionné par le Président de la Republique.

Hier jeudi 21 mars, Nicolas Sarkozy dont on anticipait déjà le retour "non par envie mais par devoir" était mis en examen par le juge Gentil pour abus de faiblesse.

Tout cela donne l'impression d'assister à un match dans lequel chaque coup est rendu.

Pour l'instant, match nul ?

DML
 

Wednesday, 20 March 2013

FRANCOIS HOLLANDE: LA REPUBLIQUE EXEMPLAIRE MISE A MAL !


"Je" veux une République exemplaire", c'était un des 60 engagements pour la France de François Hollande !

Las !  Un de ses ministres, hier démissionnaire, semble avoir mis à mal cet engagement ! mais pas n'importe lequel ! Celui dont la mission consistait à traquer ceux qui auraient souhaité se soustraire aux nouvelles taxes !

Pourtant à lire la biographie de ce ministre sur VIKIPEDIA, celui-ci avait déjà été condamné, sans peine ni inscription au casier judiciaire, pour avoir employé au noir dans sa clinique une philippinne en situation irrégulière de juillet 2003 à novembre 2004...! Exemplaire !

DML

WHAT DO EUROZONE COUNTRIES REALLY WANT ?


EUROZONE counteries want the assurance of a "big brother", who oversees, helps and advises, but who does not interfere in the internal affairs of a country !!!

The aims of the EUROZONE may be to create, ultimately, the USE (United States of Europe), but as one says, Rome was not built in a day !!!  Haphazardly passing laws, imposing principles (Directives) which do not fit, which cannot be applied uniformly by all the countries in the EUROZONE immediately, only creates more, new problems !

Blindly trying to "save" the EURO at all costs, is an error, certainly in the cases of Greece and Cyprus !!!   Any real financial analyst can only but agree with this statement !

Less haste = more speed, as the proverb goes. Creating the principles for a "Group" of companies or countries requires patience and the acceptation that exceptional rules are also justifiable !!!

Ultimately the "USE" will come into existence ! However, current politicians will probably not be around then, and the current principles will have been modified !!!
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Tuesday, 19 March 2013

EUROZONE TURBULENCE WILL CONTINUE !!!


From events during the last few days, no real observer could have missed the scramble in the EUROZONE to temper, to reduce, the effect, of the "support" given to Cyprus !!!

In reality, the support given to Cyprus does not reflect  what Cyprus really needed. In the opinion of this Blog, it only reflected what the EUROZONE was prepared to cede to this little Island !!!

To say the least, this is not the way to solve a serious financial crisis either in Cyprus or anywhere !!!  This was only a decision to protect the EURO !!! 

The basic principle concerning the EURO is that it must be protected at all costs to prevent "a run" against it.  Why protect the EURO to such an extent ?  The answer is that ultimately the EUROZONE wants to create the USE, the United States of Europe !!!  A new political Powerblock !!!

Without going into more detail now, this ideal has many more obstacles to surmount.  Suffice it to say that shortly the unsolved Cypriot Crisis will reveal more unexpected events !!!  It could even destroy the "EUROZONE".
                               .         

Monday, 18 March 2013

WHAT WILL BE THE AFTERMATH OF EURO CRISIS ?


The consequences of the EUROZONE CRISIS will be seen when certain Countries go to the Polls.

Will all the current Leaders keep their seats ?  Will Germany re-elect Merkel in September 2013 ?  Will the "Golden Rule" then be retained as an infallible principle or will it be abandoned for something else ?

In the present climate there could be other unforseen  repercussions. 

Trying to protect the Family Wealth means hiding all taxable valuables. Under the Matress as was the habit after the last Worldwar ?

Politicians fighting to balance their accounts, as in France or Britain for example, will perhaps be tempted to introduce more lax rules not to infuriate voters !

The faces of current Leaders in the EU may well change !!!  This is what is called Democracy !!!  Alas, as this Blog has repeatedly said, this will never affect the election of MEPs, Members of the European Parliament !!!

To force MEPs to be elected (or re-elected) at the same time as local MPs in a General Election, needs a change to the EU statutes !!!  This, in the opinion of this Blog, must be undertaken, but at present the rules are not  "Democratic" !!!

To avert a crisis like the present one, at all levels in the EU, voters must be able to make their views heard !!! 
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CYPRUS SOLUTION WILL BE THE "EURO" ACHILLES HEEL !


In order to provide a 10 billion EURO loan to CYPRUS the Eurozone Leaders have imposed on Cyprus an obligation to tax all loans made to Banks in Cyprus below 100 000 Euros at 6.75% and all loans above 100 000 Euros at 9.9%.

Although it would be Cyprus that taxes and receives the benefit of the tax, the next question is "does the  EUROZONE have the right impose such a tax ?".

The solid financial condition of Cyprus has recently deteriorated partly due to bad debts connected with receivables from Greece. 

Cypriot Banks also harbour enormous loans from, amongst others, Russian citizens.  Are these loans "tainted" ?  Hence the idea to "tax" them.

The hidden problem is that if Cyprus is no longer a safe haven (a Financial Paradise), there will shortly be a scramble to transfer Billions of Euros to other safe havens outside the EUROZONE !!!  The result then could be that the Loan of 10 Billion Euros to Cyprus would not be enough !!!  Another 10 Billion may be necessary. 

If Cyprus would then face the task of repaying 20 Billion Euros, this would be colossal and too much for such a small island economy.

To put it another way, the EUROZONE would then suffer the loss of 20 Billion EUROS, but would then also face a "run" on the EURO due to Speculators throughout the Financial World !!!

Would it not have been much simpler and prudent to let little Cyprus quietly withdraw from the EURO, readopt its old currency, "Piaster and Pound", and then devalue by 25% to reorganise its internal structures ?  

Once again, now in Cyprus just like previously in Spain,  Italy and Greece, the draconian measures to "save the EURO" are hurting local populations.  There will again be revolts !!!
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Sunday, 17 March 2013

FERDINAND AVAILABILITY ? TALKS BEGIN !!!


From the Sunday Press it appears that discussions about the availability of the Manchester United player, RIO FERDINAND, have started !!!  Why ?  If the player is not fit, is the England Manager, Roy Hodgson so dumb that he would still make him play ?

As the previous article in this Blog hinted, the Manchester United manager, Sir Alex Ferguson,  in fact wants to keep his "herd" of footballers "in mothballs", away from national selection, "in case they get hurt" !!!  If all club managers were the same, there would never be any real national teams to compete !!!

If FIFA rules do not back National Selectors, why does FIFA continue to run International Football competitions  ?  Sepp Blatter must clearly resolve this problem !!!  He must clearly explain the rules !!!
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Saturday, 16 March 2013

SIR ALEX FERGUSON SURPRISED BY THE SELECTION OF RIO FERDINAND !!!


It is not the first time that a player "owned" by Manchester United has been "judged to be unfit" to play for his country when selected !!!  This time, and not for the first time, Rio Ferdinand has been selected and it will be interesting to watch whether again he will also be fit to play for his country  !!! 

Sir Alex Ferguson is more than a nanny where his players are concerned !!!  He has often flouted the FA but the FA does nothing !!!

To "solve" the problem should there not be an FA rule that a player selected for his country who, is "withdrawn" by his club, cannot then play for his club for a certain period, for example 10 days ?

Something must be done !!!  Sir Alex is stubborn but the FA seem to have a soft belly !!!
                .




Friday, 15 March 2013

GB + USA + FRANCE UNITE TO HELP SYRIAN REBELS !!!


At last there is some positive action concerning the annihilation, extermination in fact, by the BACHAR el-ASSAD regime of any political opposition in Syria !!!  

Russia and China used their vetoes when the United Nations Security Council voted, to prevent any international interference in the Syrian "internal political revolution".  Since then, for the last two years, civilians in Syria have been slaughtered by Russian supplied weapons without any questions having been answered or reasons given !!!  The world has stood by and just watched !!!

UNO has never sent a peace keeping force !!!  It has only ever sent "observers without arms".  What good has this done ?

Now Britain, France and the USA want to supply the "rebels", the Opposition in Syria, with weapons so that they can defend themselves, against the BACHAR el-ASSAD onslaught !!!

If Russia decides to send troops, this could lead to war in the Middle East !!! 

Would a better compromise not be to agree to change the UN rules for Vetoes when the Security Council votes ?   To achieve this, will the UNO Secretary, BAN KI MOON, in this perilous situation, grab the chance to act, to change the rules ?                   
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CONCIERGES ET GARDIENS D'IMMEUBLES: UNE RUMEUR QUI PERSISTE !


Il est une rumeur qui persiste aussi bien parmi certains gestionnaires d'immeubles que parmi les concierges et gardiens d'immeuble : ceux ci n'auraient pas le droit de monter sur une échelle (ou un escabeau) au delà du troisième barreau pour effectuer leurs travaux...

Or il n'en est rien. Ni le Code du travail ni la convention collective des concierges et employés d'immeubles ne prévoient de telles dispositions!

Le travail en hauteur est réglementé par le décrèt n°  2008-244 du 7 mars 2008 (Code du travail, art R 4323-81 à 4323-88):  L'employeur doit mettre en oeuvre tous moyens de sécurité pour assurer la stabilité des échelles escabeaux et  marchepieds.

Un gardien peut donc remplacer une ampoule électrique à plus de trois mètres de haut si l'échelle ou l'escabeau répond aux conditions de sécurité et de stabilité que prescrit le code du travail.

DML

ARE POPES NOT HUMAN ?


As soon as he was elected, the new POPE FRANCIS has been humbugged by stories concerning a girlfriend when he was young.  Did he commit a sin ?

This has never been proved.  However, finally, he decided to devote his life to "Catholicism".  He is now the Pope !!!  He is now the leader of the flock !!!

There have been several Popes in the past who have more than sinned !!!  Who did not want to risk their necks against the Nazis !!!  Enough said !!!

As a newly elected RELIGIOUS LEADER, whose congregation includes Billions of Believers, one should wish him well.  

The world could be a better place if he succeeds.
                              .     

     

GB DEMOCRATIC LIBERALS SEEK AN ELECTION ?


The LIBERAL DEMOCRATS who are in a coalition with the Conservatives to keep out the "LABOUR" party and its multiple sub-groups, now seem to want an early General Election !!!

To put it another way, Nick Clegg, leader of the "Liberals" is dominated by Cameron and cannot prise  the reigns of power.  But he wants to be Prime Minister !!!

Does Clegg now really think that Milliband is facing a weak period, like he himself is, in his leadership of the Socialist Coalition Party ?  That both He, Clegg, with Milliband could turn the tables on Cameron ? 

This proposition could appear as a "pie in the sky" idea. Such an idea however, could even appeal to David Cameron !!!

The "Liberal Democrats" brought  57 Liberals in their dowry, prior to their marriage with the Conservatives.  How many "true" Liberals are left ?  And after recent scandals how many could be re-elected ?

Likewise, the Socialists have faced the brunt of many criticsms after their ten years in power.  This blog said at the time that it would take at least "Five Years" to correct Socialist errors, including the destruction by Gordon Brown of Britain's Gold reserves and his anihilation of the British Pensions System, which until then had been revered worldwide !!!  

Will David Cameron take a gamble and call an Election ? Now is perhaps the moment to act, but he knows more than we all do !!!
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Wednesday, 13 March 2013

MESSY PROBLEMS ON FRENCH ROADS; WHO IS TO BLAME ?


As always, the question in France (and to be fair, in other countries also) is, "Who is responsible for injuries suffered due to a climatic change, the cold, snow and ice not generally expected ?".  Once in a decade of years there are "exceptional" climatic events.

To be quite clear, at present in the North and East of France, roads and above all, Autoroutes (Motorways), have become totally snowbound.  Users have been trapped, after gaining access, for long periods of time, sometimes for up to 36 hours !!!

In such circumstances what "services" or "compensation" can any Autoroute User expect ?

The answer is simple. Only the provisions prescribed in  a private insurance contract the motorist has signed,

 and/or 

when laws or contracts imposed on COMPANY owners of AUTOROUTES define the obligations of a company. 

However the users of Autoroutes are never really  prevented from access.  They are never clearly informed of their rights if "something" prevents them reaching their destination in normal conditions !!!

If they are blocked, in any circumstances, do they have no rights ?  Babies need meals, others need medicines, but others are just simply hungry or thirsty after a certain time !!!    

AUTOROUTE owners may, with a magnificent gesture, cancel the fee for using the road !  This is not, however, enough. The perfect solution would be an EU law to govern its Family of Nations !!!

Should Autoroute owners by Law, not only in Britain or France, but all over the EU in fact, not be obliged to provide a minimal service for their "trapped customers" in all conditions ? 
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Sunday, 10 March 2013

SARKOZY: LE POSSIBLE RETOUR ?


Evoquant une possible défaite à l'élection présidentielle,    Nicolas Sarkozy au cours d'une discussion à bâtons rompus avec des journalistes lors d'un déplacement en Guyane en janvier 2012, avait déclaré;

"Si je suis battu, vous n`entendrez plus parler de moi".

Las, dix mois plus tard, dans un article publié par "Valeurs Actuelles" Nicolas Sarkozy se pose déjà en recours!  Il pourrait revenir, "non par envie mais par devoir" ...

Mais n'est pas de Gaulle qui veut !  D'ailleurs celui-ci avait dû patienter 12 ans avant de revenir aux Affaires en 1958 !

DML

Saturday, 9 March 2013

HOLLANDE FACES INCREASING UNREST IN FRANCE !!!;


The reality is that since his election on 6 June 2012, President François Hollande with his 60 Election Promises is slowly hitting the buffers !!!

He crucified the former President, Nicholas Sarkozy, with the allegation that Sarkozy did not deliver on his election promises !!!  Now the whole of France is watching, Sarkozy as much as Hollande;  what will either do ?

There is discontent on the Left which is testified by the numerous marches in the streets of Paris as well as other major towns.  Extremists, on the left (Communists) want to see promises delivered !!!  They, with their leader Melanchon, will punish socialist candidates by voting massively for communists in any forthcoming elections.  

There is also discontent on the Right.  Sarkozy was ousted but now there are several candidates, some well known, others less prominent, patiently waiting in the shadows, to play their hand nearer the time of the next Presidential in election in 2017, if not before !!! 

Hollande made 60 Promises as a Presidential Candidate. His total promises had a basic flaw.  He never explained how he was going to finance everything he promised.  He is at present scratching around to tax anything possible (anything that moves as the British say !!!).

Hollande wanted to interfere in businesses that faced huge losses and needed to reorganise and to cut the number of employees. His Minister, Arnaud Montebourg, has failed in his efforts to curtail employee reductions. Unemployment in France has continued to rise: 10.2% in the 4th quarter of 2012, a level which had never been so high since the 2nd quarter of 1999.  
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Friday, 8 March 2013

ITALIAN LAWS PERMIIT BERLUSCONI TO EVADE JUSTICE !!!


Berlusconi, a Billionaire, has flouted Italian laws for the last twenty years at least.  In Spite of all the legal procedures undertaken against him and his "companies", he has always evaded any form of condemnation !!!

Now it would appear that he is too old, at the age of 76,  to face a prison sentence !!!  The laws in Italy appear to be very "soft" !!!  

He still seems to have the virility of someone much less younger  !!!  Or, has he got something else, very special, which other mortals do not have ? Is it perhaps money ?

European Laws at all levels need closer scrutiny !!! 
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Thursday, 7 March 2013

"BENEFITS TOURISM TO UK" IS A MYTH SAYS EU COMMISSION !!!


I have not been able to find on the WEB, the name of the person in the EUROPEAN COMMISSION who said that Benefits Tourism to the UK is a myth.  This faceless person must be someone around the President of the Commission, named Manuel Barroso, who in fact has not deigned to deny what has been said !!!

Faceless politicians in the EU protect only their personal interests.  They are against any changes in the "Gravy Train" !!!  They are above "National Politics" !!!

The fear or thought that David Cameron could provoke changes in the EU that would destroy the present comfortable "EU Kingdom" is anathema, a curse !!!

In fact, Britain does not want to destroy the EU. But, on the other hand, Britain and its taxpayers do not want to be destroyed by the EU either !!! 

 The voice of Britain must be heard !!!  And heard it will be, and sooner rather than later, as some might still be hoping !!!
                      .

Tuesday, 5 March 2013

CAMERON MUST REDUCE OVERHEAD COSTS !!!


Britsh "Overhead Costs" connected with the running of the Civil Service, Embassies and other Diplomatic Services must be reviewed and cut.  This also includes Quangos and Health Service costs.

Similar problems face the EUROZONE in the case of Greece, Portugal and Spain not to mention Italy or other countries.  If the EUROZONE does not revise its policies, the EURO will sink !!!

David Cameron is facing a serious dilemma at home and his political adversaries will never help him.  Is it not time to introduce identity cards ?  Should all beneficiaries of the British social system not be protected with an identity card ?

David Cameron must be seen to act and to protect British Nationals !!! Only in this way can he prove to the British Electorate that he protects their interests in the face of the EU and the European Courts !!! It is not too late !!!
                .     

LIMITATION OF DIRECTORS "BONUSES" VOTED IN SWITZERLAND !!!


Nobody really expected the "votation" by Swiss electors for exhorbitant company "Bonuses" to be controlled by legislation. 

This vote covers Banks as well as any of the 270 Swiss companies quoted on Swiss Stock Exchanges.

However, countries in the EU will have to take heed of how the ultimate legislative conditions in Switzerland  could or can be applied !!!  Now it is Switzerland that leads the way and it has become an example of what should also be done in the EU !!!

Will David Cameron, the Prime Minister of Great Britain, lead the way to provoke an effective reform in the EU ?  Will EU leaders be prepared to change the current uncontrolled conditions of engagement "bonuses" and severance conditions ?  Company laws on this subject must be modernised to return to shareholders the right to vote and to control the emoluments of Directors !!!

A special audit certificate will probably be necessary for Banks and Companies which have multiple foreign subsidiaries and investments !!!  One must ensure that Directors' income from all sources are reported to Shareholders !!!  Any infringements by Directors must be penalised by imprisonment or financial penalties. 
                      .

Monday, 4 March 2013

MIGRANT "TOURISTS" WHO CAN CLAIM BENEFITS IN BRITAIN ?


William Hague, who fully understands the idiosyncracies  which "liberal" EU laws have imposed on the EUROPEAN UNION is on the right path to invoke some common sense in EU affairs !!!

The case in point is "Migrant Tourism" by  Romanians and Bulgarians.  Why can Britain (and other countries perhaps) not stem the tide of this invasion ?

The straight answer is not really that difficult !!!  Judges apply the principles of the Human Rights Act to which Britain subscribed on entering the EU !!!

The result is that all people in Britain are equal.  Migrants or Immigrants have the same rights as all born British natives !!!

The same rights apply in Bulgaria and Romania, except that the level of "help" which is free is much, much lower !!! 

Immigrants arrive from everywhere, not just the EU and Europe but Asia and Africa as well !!!  This is another EU problem William Hague, the Conservative Government and the EU must address.

David Cameron with the help of William Hague must raise the problem of a secure protection of EU Frontiers  !!! The cost of what needs to be done must be borne by all EU member countries !!!  This must be at the heart of a real EU policy.

The EU Human Rights Act is out of date.  50 years ago there were things which were acceptable !!!  Now there are things which need updating !!!
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Sunday, 3 March 2013

EUROZONE DIFFICULTIES CONTINUE !!!


The Eurozone wants to protect the "EURO" but with what assets that back such a policy ?  Has the German determination "to bail out" the EURO no limits ?

There is a limit between "financial help" as in the case of   Ireland and Portugal, but the case of Greece has raised real basic questions.

When does "Financial Help" become something much more onerous ?  This has become very evident.  In the case of Greece it has meant increasing EU loans but acceptance by Greece of additional financial and economic constraints.  

This has lead to policies inside Greece that should have been adopted before they joined the EU !!!  Greeks are suffering as a result of these measures, (of a deflationary nature) to continue to benefit from EU "help" !!!  Greek citizens are, as a result,  revolting !!!

The "Big Eurozone " problem is that now Italy and France, not to speak of Spain,  also need help to respect the 3% Golden Rule !  Will any of these countries benefit from German backed finance to protect the "EURO" ?

Would it not be more convenient and financially cheaper to change the rules and to permit "EURO COUNTRIES" in difficulty to withdraw and temporarily renounce the EURO, to adopt their former local currency and then reorganise their economies ?  This would lead to deflationary measures, like those imposed on Greece, but this way without EU help !!!

Germany is at present "rich", it backs the "EURO" but at what cost ?  Again, will Merkel still be the Chancellor after the next elections ?  Policies may change !!!
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Friday, 1 March 2013

BANKERS' BONUSES, A POSSIBLE SOLUTION ?


Everyone seems to hate a possible solution to the problem of Bankers' "Bonuses" !!!  But what is the problem ? 

It is that Bank directors negotiate employment contracts which are comprised of a basic salary plus a "Bonus" dependent on results !!!  This same technique is true of Directors of other big Companies or Groups !!!

At that point nothing is really illegal, but subsequently there are many diverse objections.  It is then that legislation is envisaged, invoked in fact, to cover the lack of legal means to stop current abuses. 

These negotiated contracts take place without any real  Shareholder agreement. 

There are basic remedies that must be envisaged in any EU or National laws to prevent future abuse.  

a)  The contracts of all Directors must be submitted for Shareholder approval when they are nominated or engaged.

b)  Any exceptional payments to Directors in the form of Bonuses on results (financial or other) should be made payable only five years after the year-end concerned.  (This is to cover the subsequent discovery of "unexpected losses" !)

Obviously such contracts should be filed centrally once signed.  Auditors must be informed of any such contracts shortly after their conclusion.
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