Navigation

 

Economy

1-10 by 44 | Page 1 . 2 . 3 . 4 . 5 . next  »

ECONOMY

Imerisia - Greece | 26/02/2015

Greek entrepreneurs need clarity

The German Bundestag votes on the extension of the bailout payments for Greece today, Friday. The liberal business paper Imerisia describes the mood in Greece's business community and stresses that it is waiting for a clear message from the government: "For months the companies and the entire economy have been held hostage by political instability. Everything has been put on ice. After reaching the agreement with the creditors one would have expected the government to explain what policies and measures it will introduce. Particularly on the key issues [taxation, business loans, privatisations] which, as the government officials say, are not an issue in the negotiations with the creditors. ... However the repeated statements of the ministers are only making things more complicated. They keep repeating generalities without giving any details about the solutions they propose." (26/02/2015)

Le Quotidien - Luxembourg | 26/02/2015

Luxembourg's image as a passive jihad accomplice

France's Interior Minister Bernard Cazeneuve announced last week on a visit to US Internet companies that he wants to do more to counter the recruitment of jihadists on the Internet and in social networks. The fact that the companies - which have little interest in cooperating with security agencies - have their European headquarters in Luxembourg is cause for concern for the left-liberal daily Le Quotidien: "Clouds are forming over Luxembourg, to the point that it is being cast as a passive accomplice of jihadist organisations. And regardless of whether there's any truth in that, the harm such rumours cause is real enough. The government is investing huge sums in 'national branding' to polish up its image. But it seems that such communication - that is, the art of embellishing truth - is insufficient. The cover-ups and fiscal intransparency in the country only reinforce the distrust, even if it's entirely unfounded. Perhaps it's time to turn a new leaf - that of transparency and tax loyalty vis-à-vis our own partners." (26/02/2015)

Standart - Bulgaria | 26/02/2015

Bulgaria must escape the debt trap

Bulgaria will take out up to eight billion euros in foreign loans through the issue of government bonds, the country's parliament decided on Wednesday. With the money the government wants to refinance old loans and fill gaps in the budget for 2015. Bulgaria is falling into the debt trap, the daily Standart criticises: "The problem is that none of the governing parties has taken the trouble to analyse the real reasons for the indebtedness, to say nothing of doing something to counter it. Bulgaria has been operating in the red for the last five years. That has to do with the low tax policy introduced by [Socialist ex-prime minister] Sergey Stanischev. He lowered the corporate tax and income tax to a flat rate of 10 percent and halved the social contributions. ... In the medium term Bulgaria has only three ways to escape the debt trap: drastically increasing taxes, reducing spending or giving up the Currency Board [which couples the lev to the euro] and printing money." (26/02/2015)

L'Echo - Belgium | 26/02/2015

Juncker's energy union old hat

The European Commission presented a strategy paper outlining its plan for an energy union in Brussels on Wednesday. Europe aims to save billions of euros and gain independence from gas imports through closer integration of the member states' individual networks. The idea is nothing new and will fail in its implementation, comments the business paper L'Echo: "This is just a rehash of the policies Europe has been pursuing for the past two decades - except that Juncker now wants to speed it up. What's the catch? Accelerating a policy that doesn't work (because it hasn't brought prices down) can only accelerate failure. The astronomic cost of investment in energy networks won't compensate for the expected 'gains'. In fact, one is tempted to ask if there will be any gains at all. If price reductions - and thus competitiveness - are really Juncker's objective, he must strike at the heart of energy prices: production, which includes technological innovation as well as market structure." (26/02/2015)

Verslo žinios - Lithuania | 26/02/2015

Brussels defies Moscow with energy union

The EU Commission has taken a step in the right direction by presenting a strategy for the development of an energy union, the business paper Verslo žinios believes: "The new energy strategy aims to reduce dependence on Russia to a minimum. The document stresses that energy contracts are often used as a means of applying political pressure, and aims to have the Commission participate more actively in negotiations on gas and nuclear energy between individual states and Moscow in future. ... Apparently Brussels has finally understood that Russia is playing the energy card in an attempt to disrupt European unity. Hungary was the first country to fall for Russia's ruse. ... The Commission's goal of verifying whether the contracts of individual member states are compatible with the EU energy strategy comes at exactly the right time!" (26/02/2015)

El Periódico de Catalunya - Spain | 25/02/2015

Rajoy making himself unpopular with optimism

Mariano Rajoy's fervent optimism during a state of the nation debate at the Spanish Congress of Deputies on Tuesday isn't going down well with voters, warns the left-liberal daily El Periódico de Catalunya: "With the statistics in hand, right from the outset the head of government started explaining that Spain has overcome the crisis and will remain on the path of recovery in the next legislative period unless the voters decide to embark on 'ideological adventures'. This is a risky strategy because this excessive optimism contrasts with the impression of many Spaniards who - with or without jobs - still don't feel the effects of all this alleged improvement. Despite the political crisis, corruption and distrust in the institutions, Rajoy is focussing solely on the economy. He dedicated just seven minutes of the one and a half hours of his speech to Catalonia and corruption without producing any new ideas." (25/02/2015)

Jornal de Negócios - Portugal | 25/02/2015

First positive results of ECB's bazooka

The massive bond-buying programme with which the ECB hopes to revive the Eurozone's economy is already producing its first positive results, the liberal business daily Jornal de Negócios comments enthusiastically: "The effects of the ECB's expansive monetary policy have so far been felt almost exclusively on the markets. The cheap money didn't reach the real economy. This failure was also the main reason why ECB chief Mario Draghi decided to deploy the 'bazooka'. ... The massive bond-buying programme won't be launched until March, but there are already signs of its practical impact. The decision of the state savings bank CGD to lower the spread for mortgages to 1.75 percent is just a small but telling example. Unlike in the past, when the ECB really only filled the pockets of investors, the 'bazooka' is gradually starting to fill families' pockets too." (25/02/2015)

Jutarnji List - Croatia | 25/02/2015

EU member Croatia loves cheap pork imports

The Croatian Chamber of Commerce on Monday published the import figures for the first ten months of 2014. The repercussions of EU membership on Croatian traditions and eating habits are horrendous, the liberal daily Jutarnji List writes in dismay: "The food chains are full of suckling pigs and half-pigs that are so cheap that they're even changing our national habits. One example: traditional slaughtering in the villages is almost a thing of the past. ... But truly shocking are the latest figures on imports of bread, buns, cakes and other baked goods, which according to the Chamber of Commerce amount to 115 million euros. In view of so many empty grain-producing regions and abandoned state-owned fields, one must seriously ask whether we're still able to produce anything edible ourselves." (25/02/2015)

La Repubblica - Italy | 24/02/2015

Italy's tax dodgers finally entrapped

Rome and Bern decided on joint steps to fight tax evasion more effectively on Monday. They include tax information sharing that would give the Italian authorities access to Swiss accounts data when foul play is suspected. The holders of these accounts are now caught in a trap, the left-liberal daily La Repubblica comments jubilantly: "The noose is tightening for the tax dodgers. ... Voluntary disclosure and the introduction of criminal prosecution of money laundering are part of a package that was already passed last year. ... With the end of banking secrecy, which now gives Italian tax authorities direct access to lists of account holders, this threat has become a concrete reality. For the first time in Italy's history prison sentences can become a reality for tax dodgers." (24/02/2015)

La Tribune de Genève - Switzerland | 23/02/2015

Swiss economy needs fresh impetus

The Swiss economy must be more innovative if it wants to remain competitive despite the rise in value of the franc, the liberal-conservative daily La Tribune de Genève urges: "The world changes, as do the requirements for success. Switzerland must adapt and redefine how it plans to excel in the future. The prevailing economic strategy consists in avoiding risks. ... But sooner or later we're going to have to try something new! The world is developing at a rapid pace, 90 percent of the products and services we'll buy ten years from now don't exist today. And we've got what it takes to succeed: education, research, economic structure, investment capacity. Our biggest enemy is conservatism." (23/02/2015)


1-10 by 44 | Page 1 . 2 . 3 . 4 . 5 . next  »

Other content