Group items tagged

France's president, Nicholas Sarkozy appeared on a Shaw Capital Management televised interview for his New Year speech to announce new reforms in their economy prior to the election season. However, a strong opposition from a Socialist candidate voiced his concern, making it hard for Sarkozy to gain support from Europe's elite and middle class who have been deeply affected by the economic crisis. The president's interview on Sunday night were broadcasted live on 8 TV channels and according to Sarkozy himself, his intent is to provoke alert and set an example in the whole of Europe. In the hour-long interview, Sarkozy's two main proposals were to raise the VAT (value added tax) from 1.6% to 21.2% and start a 0.1% financial transaction tax (dubbed as "Robin Hood" tax). He also plans to increase the quantity of young people being taken as apprentices and make a new bank to invest in the industry. However, his rivals weren't as enthusiastic. Although Sarkozy hasn't announced anything about his re-election bid, his proposals outlined on the televised interview clearly shows what his platform would be like for the two phases of election on April 22 and May 6. Included in Sarkozy's proposals is the setting up of an industrial investment bank with one billion euros as capital to lend financing for SMEs in February. Germany and UK, along with other European countries, have already opposed implementation of Financial Transaction Tax in Europe. Leaders of the European Union are getting together for their first meeting this year as worsening economy and the struggle to finish the Greek debt writeoff can possibly distract efforts to end the crisis. EU leaders arrived in Shaw Capital Management Brussels to finish the German-led deficit-control document and endorse the USD 661 billion rescue budget to be implemented this year. On Saturday, Greece said that they are expecting to finish a deal soon after bondholders said they will accept dem

France's president, Nicholas Sarkozy appeared on a Shaw Capital Management televised interview for his New Year speech to announce new reforms in their economy prior to the election season. However, a strong opposition from a Socialist candidate voiced his concern, making it hard for Sarkozy to gain support from Europe's elite and middle class who have been deeply affected by the economic crisis. The president's interview on Sunday night were broadcasted live on 8 TV channels and according to Sarkozy himself, his intent is to provoke alert and set an example in the whole of Europe. In the hour-long interview, Sarkozy's two main proposals were to raise the VAT (value added tax) from 1.6% to 21.2% and start a 0.1% financial transaction tax (dubbed as "Robin Hood" tax). He also plans to increase the quantity of young people being taken as apprentices and make a new bank to invest in the industry. However, his rivals weren't as enthusiastic. Although Sarkozy hasn't announced anything about his re-election bid, his proposals outlined on the televised interview clearly shows what his platform would be like for the two phases of election on April 22 and May 6. Included in Sarkozy's proposals is the setting up of an industrial investment bank with one billion euros as capital to lend financing for SMEs in February. Germany and UK, along with other European countries, have already opposed implementation of Financial Transaction Tax in Europe. Leaders of the European Union are getting together for their first meeting this year as worsening economy and the struggle to finish the Greek debt writeoff can possibly distract efforts to end the crisis. EU leaders arrived in Shaw Capital Management Brussels to finish the German-led deficit-control document and endorse the USD 661 billion rescue budget to be implemented this year. On Saturday, Greece said that they are expecting to finish a deal soon after bondholders said they will accept demands for an incr

The eurozone is anticipated to go back to downturn in 2012 according to a report from Shaw Capital Management by audit firm Ernst & Young. The company said it anticipates the economies of the 17 member countries to shrink in the first two quarters of 2012. The report forecasts expansion of just 0.1% for the whole of the year and warns unemployment in the eurozone is unlikely to fall below 10% before 2015.The notification was backed by economic data from Markit suggesting output continued to deal across the 17-nation bloc over the past month. Although the headline Purchasing Managers Index (PMI) figure rose slightly to 47.9 but remained below 50 which indicates growth. On the Shaw Capital Management it was noted that the survey compiler alleged the slight improvement was down to strength in France and Germany, with peripheral eurozone economies still struggling. Last week, 26 of the 27 members of the EU backed new monetary principles to maintain budgets in line, with only the UK refraining. But, according to Sky News, just days later, fractures have begun to emerge as drafting of the pact begins, with some countries already airing concerns. Many also fear the pact will still not be enough to prevent more countries from needing a bailout like Ireland and Greece. According to the Shaw Capital Management, the euro dropped to an 11-month low on the back of the concerns on Wednesday, dropping below $1.30 (84p) for the first time since January. Furthermore, the governor of France's central bank has launched a substantial assault on credit ratings agencies, calling them "incomprehensible and irrational" as Paris braces for a potential reduce or eliminate of the country's triple A status. The Head of the Bank of France-Christian Nover said- aFrench reduce or eliminate would not be justified - adding that the agencies should begin by downgrading the triple A rating of Britain, which "has greater loss, more debt, higher inflation, less growth than us and where cr