IS THE EUROZONE 3% RULE A VALID BUDGET CONCEPT ?

                                                                                                                                               
The limitation placed on Eurozone countries not to exeed by more than 3% their Budget Objectives is questionable.  It is a laudable objective, but laughable !!!   What are the consequences when limits are breached ?

What happens when "reported" figures suddenly are found to be "all wrong" ?  When "suddenly" the EURO needs to be defended ?

Everything !!!  Financing is promised to Cyprus and Spain and perhaps also to Italy !!!

This Blog has already pleaded that the EUROZONE must undertake the creation of a legal structure.  The sooner the better !!!

However, for those citizens in the "EUROZONE" the consequences of the 3% rule are very direct !!!  It means that the Euro will depreciate by 3% each year, if not by more (never less) !!!

The value of monetary assets, like the change in your pocket, will devalue !!!  This is also true of pensions. Will Pension Funds, State or Private, cover or guarantee beneficiaries against "devaluation" ?

To be more direct, are there any Pension Funds for Politicians which are not guaranteed against inflation ? 

This question concerns EUROZONE countries but EU countries as well !!!

Will  this Blog get any help from anyone on this matter ? 
                                              .       

HOLLANDE ET LES SALARIES DE PSA AULNAY

Avant de se rendre dans le studio 107 pour débattre avec Nicolas Sarkozy, le 2 mai dernier, François Hollande était allé à la rencontre des salariés de PSA Aulnay qui manifestaient à proximité contre la probable fermeture du site d'Aulnay.

"Après le 6 mai, si les français me choisissent, nous regarderons le sujet et nous aurons rendez vous" avait alors déclaré le candidat Hollande. Une déclaration porteuse d'espoir et suivie d'acclamations...

Aujourd'hui, les salariés de l'usine PSA Aulnay constatent avec amertume que la déclaration du candidat Hollande évoquait plus un "je vous ai compris" prononcé en d'autres temps et d'autres circonstances, qu'un engagement réel et précis !

Certes le 18 juin dernier, Arnaud Montebourg recevait les représentants de PSA Aulnay, la direction du Site et les élus locaux. Toutefois, ainsi que le notait la CGT, le principal responsable de la menace de fermeture, la direction centrale, n'était pas invité...

DML
                                                                         .


.

EU LEADERS AND THE EURO CRISIS

Jose Manuel Barroso, the President of the European Commission, is again leading the charge to greater European Integration ahead of the meeting in Brussels of the Leaders of all the EU member countries.

This two day meeting which starts tomorrow June 28, 2012 takes place at a time when there is again a EURO crisis, but this time bigger than in previous years.  Spain needs money (only 100 Billion Euros) to recapitalize Banks but will Italy also need help because of the rising cost of borrowing money ?

Barroso wants more integration politically, economically and fiscally !!!  He also wants a monetary union.  These are not new ideals !!!  He cannot, however, ignore the fact that there are ten other countries which do not have the Euro as their currency !!!

What Mr Barroso really needs is a EUROZONE TREATY which specifies all the controls and the obligations which are required to control a Currency like the EURO !!!

It is because Eurozone countries have remained "uncontrolled" since the creation of the EURO that the present problems have become so critical !!!  Have the ten other non-Euro countries begged for help ?  No, because each country has its own Central Bank !!!

Countries are as different as chalk and cheese !!!  Some are big, some are small !!!  The same solution or principle cannot be blindly applied to every country !!!  
                                                                       .

   

THE EUROZONE INQUISITION, AT LAST !!!

Once again all the EU leaders are on the alert because the EURO is reaching a crisis point. 

For those 17 countries which have the EURO as their currency the question is "What will happen now ?"

Greece wants a bail-out for the third time, Spain wants 100 Billion euros to refinance its banks, Italy is on the point of asking for help and Cyprus also wants help !!!  Portugal and Ireland have already been "rescued" but is that a guarantee they will not come back for more help ?

The non-EURO countries are wary because they do not want to be burdened with costs arising from saving the EURO. This is quite understandable.  Each non-EURO country bears its own costs which stem from protecting its own currency.

What is now glaringly obvious is that EUROZONE countries do not have the political structure required to legislate and impose common EUROZONE rules and controls.  These rules and controls must be contained in a separate Eurozone Treaty.  

After a Eurozone Treaty, the EU would still contain all the original members as specified in the Lisbon Treaty.  This Treaty, which is not "perfect" should perhaps also be "updated" !!!
                                                            .    

LA PREMIERE DAME DE FRANCE INTROUVABLE!

Ou est donc passée la Première Dame de France ?

Sur le site officiel de la Présidence de la République, elysee.fr, la rubrique jusqu'alors consacrée à la première Dame de France, entre "les présidents depuis 1848" et "les Institutions de la 5ème République" a disparu...!!! 

Pourquoi?

 DML
                                        .

CAMERON SAYS IT IS "MORALLY WRONG" TO AVOID PAYING TAX !!!

David Cameron must understand that, anyone who pays tax that he could avoid paying, should be locked up as being insane !!!

The basic rule is that it is not a crime to legally avoid paying tax !!!  The issue of whether it is moral to avoid paying tax, does not merit consideration !!!

Does David Cameron realise that there are many experts in the City who earn their living by advising clients what to do ?   Does he want to create more job losses ?

He should have a word with Chancellor George Osborne.  He perhaps needs advice from real tax experts on how to draft watertight tax legislation !!! 

                                               .

THE EUROPEAN COURT OF HUMAN RIGHTS HAS NOT CHANGED AT ALL !!!

The EUROPEAN COURT OF HUMAN RIGHTS (ECHR) has not changed since the last grand meeting in April !!!  This organisation has, however, resisted all reforms for a long time !!! 

It has a backlog of 150 000 cases !!!   Is there not something radically wrong ?  Is it a Human Right or is it a Human Obligation to have to wait so long for Justice ?

When will Sir Nicolas Bratza, President of the ECHR, act ?  He said after the Brighton Conference in April, that the Brighton Declaration "would not change the way we do our jobs".  Really !!!  Does he really want to go on as before ? 

Indirectly Sir Nicolas pleads that his courts must remain independent !!!  Everyone agrees !!!

However, is it not time that Sir Nicolas accepts graciously that changes are "perhaps" warrented ?  Can he defend that Backlog of 150 000 cases ?  Must criminals wait years for justice, eternally in fact ? 

Should Sir Nicolas himself not be alerting his superiors that changes in the definition of the objectives of his Courts must be urgently undertaken ?  Kenneth Clark could be helpful.    

                                             .