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TEMAT DNIA

Insider dealings revealed at EADS

Insider dealings revealed at EADS

 

Most directors of the aeronautic firm EADS and its main shareholders Lagardère and Daimler Chrysler apparently carried out massive sales of shares in 2005 and 2006 for fear of a future devaluation of bonds. It seems they were aware of delays in the construction of A380 and A350 airplanes, constructed by the EADS airbus subsidiary. The French State, equally a shareholder, was also aware of coming turbulence. This is what the Autorité des Marchés Financiers (AMF), a financial market regulation body, revealed in a report published in the French daily Le Figaro on Wednesday, October 3rd, ten days after the Paris Public Prosecutor received it. » Więcej

Z artykułami z następujących publikacji:
Süddeutsche Zeitung - Niemcy, Neue Zürcher Zeitung - Szwajcaria, Les Echos - Francja

Süddeutsche Zeitung - Niemcy

Michael Kläsgen doubts it will be possible to gather legal proof of the alleged insider trading at EADS. "The investigators will neither be able to establish a date after which it was known for certain within the company that there would be delivery delays, nor will they be able to establish a connection between the sale of shares and alleged knowledge of the problems. And finally, they be able to prove that those suspected of having been in the know could have foreseen that once the problems entered the public domain shares in the company would plunge by 26 percent. ... But even if the affair should come to trial, it's unlikely that anyone will be sentenced despite the plausibility of the facts and their moral culpability." (04/10/2007)

Neue Zürcher Zeitung - Szwajcaria

"The insider trading scandal at the European Aeronautic Defence and Space Company EADS is taking on frightening dimensions," Andreas Uhlig observes. "Only a few members of the upper management appear not to have been involved - in particular the new boss Louis Gallois and Chief Financial Officer Hans Peter Ring. ... The scandal is also reflecting badly on Daimler Chrysler. If suspicions are confirmed, certain individuals could be sentenced to two years in prison and be forced to pay a minimum fine of 1.5 million euros and a maximum fine of ten times the profit gained from the alleged dealings. EADS would have to restructure its management at a broader level. Even the two principal private shareholders have been discredited, so that not only the management structure but also the ownership structure will have to be revised." (04/10/2007)

Les Echos - Francja

Patrick Lamm considers that shareholders are not the only suspects in the affair. "[The French State] is not beyond accusations, for, informed of the airbus difficulties, it failed to carry out its duty as a shareholder and sound the alarm bell. More generally, with often politically coloured decisions it aggravated governance that swiftly proved to be EADS's Achilles' heel. ... At any rate, these latest developments are inciting an urgent review and reshuffle of the EADS decision makers. The 'historical' shareholders who are not motivated any more should be encouraged to step down very fast. It is indeed not sure that the group needs shareholders of reference in the future. A 'golden share' should suffice to shelter it from coveting." (04/10/2007)

REFLEKSJE

Elsevier - Holandia

Leon de Winter defends Ayaan Hirsi Ali

The former Dutch Member of Parliament of Somali origin Ayaan Hirsi Ali had to go back to the Netherlands on Monday, October 1st, as the Dutch authorities no longer wanted to pay for her protection if she prolonged her exile in the United States. The Dutch writer Leon de Winter reacts. "Society should cover the cost of this protection, for freedom of expression, one of the pillars of our culture, is being questioned. ... The cost of this protection is nothing compared to its goal, which is to guarantee the continuity of our values. Ayaan Hirsi Ali's case is special. She was threatened at the time as a Dutch citizen and Member of Parliament for having voiced her opinions on political Islam ... It appears that the Dutch government is refusing to protect one of the biggest combatants in the struggle for freedom in Islam for budgetary reasons. How much do royal hunting expeditions cost us?" (04/10/2007)

Libération - Francja

Hitler was inhabited by the devil according to Norman Mailer

Philippe Grangereau interviews the American writer Norman Mailer on his vision of Hitler who, according to him, was inhabited by the Devil. "Joseph Stalin was a horrible, cruel and dangerous man, but all he did nevertheless remains within the limits of human comprehension. He did not bat an eyelid before a massacre, but it can be seen how such a man could be engendered by his era, by certain demanding and intense historical circumstances. He remains within the sphere of human nature, albeit the worst extreme. We cannot, however, understand Hitler. Hitler is a metaphor. He killed like a poet, through metaphors. He decided that Jews were a virus and they had to be eliminated to save civilisation. Stalin killed with his guts: this man is my enemy, he must be eliminated. ... For [Hitler], killing the Jews was more important than winning the war. He was inhabited by the Devil, there is no other explanation." (04/10/2007)

POLITYKA

The Guardian - Wielka Brytania

British conservatives suppress reality of UK's dependence on the EU

Timothy Garton Ash says that in their speeches at the Conservative Party conference, David Cameron, the party leader and William Hague his predecessor and current Shadow Foreign Secretary deliberately suppressed the fact that "To realise our national interests today, Britain almost invariably has to work through international alliances and institutions, often starting with the EU. This is not a matter of woolly internationalism or pro-European sentiment; it's a simple, hard-nosed calculation of the current distribution of power. ... Bashing Europe may help to rally their troops and appeal to undecided voters in an early election, if there is one. But once in government, there will often be no other way to achieve the goals they proclaim, and they know it. So while this tactic could be electorally effective, it is also deeply dishonest. It is, in sum, a big lie to the British people." (04/10/2007)

La Vanguardia - Hiszpania

Spain questions the veil in school

The Catalan authorities have allowed an eight year-old girl to wear a veil to school, contrary to the establishment rules. For the Barcelona daily, "In Catalonia, there exist numerous schools where the problem has arisen and been resolved in a reasonable manner by the schools themselves. ... The attitude of Shaima's parents, who have refused any possibility of dialogue or mediation, should be denounced. The threat to stop taking the little girl to school is unacceptable. Parents have rights, but duties too, including the rules of children's schooling. In order to prevent any repetition of such cases, some are in favour of legislation defining rights and duties. Common sense proves that when it comes to personal faith, it is preferable to find a solution through dialogue and only as a last resort should authorities be sought out to impose a solution." (04/10/2007)

Der Standard - Austria

Austria's barricade measures

Before the end of the year, controls at Austria's borders with the Czech Republic, Poland, Slovakia, Slovenia and Hungary are to be removed. The countries that joined the EU in 2004 will then become part of the Schengen area. However Austria's armed forces will be patrolling a few kilometres within the country's borders, and the Austrian labour market will remain closed to workers from Eastern Europe. Alexandra Föderl-Schmid is appalled. "Austria will probably encounter difficulties with the European Commission once the new labour market regulations enter force in 2009. The Commission will demand an explanation for the continued implementation of the protective clauses. In 2011 the clauses expire anyway, and Germany and Austria, which are the only states that still restrict access to their job markets, will have to open them. ... The advantages of the fall of the Iron Curtain are being used at an economic level, but at a political level Austria has failed to make its mark as an integrating force in Central Europe." (03/10/2007)

Standart - Bułgaria

Bookies in politics

According to Martin Karbowski, a worrying new trend has emerged in Bulgaria's local elections: voters are being influenced by opinion pollsters commissioned by the parties themselves. "Politicians are buying up opinion polling institutes and thus blocking voters' access to comprehensive data. The claims of most opinion pollsters only add to confusion. They have become bookies, reinforcing the monopoly of the big players in political and social life. ... Normally, winning over public opinion demands great efforts by political strategists, PR and advertising experts and the media. The politicians have saved themselves the trouble and the cost and simply bought the end product." (02/10/2007)

Pravda - Słowacja

Increased tensions between Slovakia and Hungary

Hungarian President Laszlo Solyom is reported to have made a private visit to southern Slovakia, where many members of the country's Hungarian minority live. Commentator Dag Danis calls the visit "a provocation": "Solyom visits Romania and Slovakia not as neighbouring countries but as Hungarian provinces. What's more, his visit to Slovakia comes at a time when Hungarian politicians are boycotting all meetings with their Slovakian counterparts. If Solyom had intended this as a friendly gesture, he would have extended his visit to include a meeting with his Slovak counterpart Ivan Gasparovic, but he didn't. He said he visited northern Hungary, not southern Slovakia. That goes beyond the limits of common decency." (04/10/2007)

GOSPODARKA

Dala-Demokraten - Szwecja

The dubious sale of state-owned companies

Göran Greider hopes the finance scandal involving the Swedish investment bank Carnegie, which was originally supposed to advise Sweden's conservative government in its plans to sell state-owned companies, "will lead to more discussion about whether it is a good thing to sell state-owned companies. ... I think many citizens have their doubts about the plans to exchange state assets for short-term profits. ... State property gives the parliament and government an overview of the functioning of companies and markets. It thus ensures that [politicians] don't end up completely at the mercy of economic advisers. State property serves as a lever for exerting pressure when market mechanisms fail, for example in the banking world. ... It's also a good instrument for putting pressure on the rest of the economy regarding ethics and the working environment." (04/10/2007)

MEDIA

El Mundo - Hiszpania

Young Spanish socialists provoke the conservatives

Young Spanish socialists (JSE) have made a video in which they parody the systematic criticism made by the Popular Party (conservative opposition) against the projects of the socialist government. The conservative daily voices its outrage in an editorial. "It is ironic that the young socialists entitled their promotion campaign [for 'citizenship education' to be integrated in school syllabuses] 'for coexistence', because their message, far from promoting the comprehension of those who think differently, ridicules all young PP cardholders by presenting them as snobbish, macho, ignorant reactionaries. ... Even sadder is the fact the parties' young generations, rather than improve on their elders, are dedicating themselves entirely to copying their worst flaws and reproducing the most out-dated stereotypes." (04/10/2007)

KULTURA

The Independent - Wielka Brytania

Cross-fertilization in European culture on show in Brussels

"The city of Brussels is to host the largest showcase of European art that the continent has seen, an exhibition that aims to prove how 'joined up' its artistic heritage really is", we are informed by art critics Rachel Shields and Arifa Akbar regarding an exhibition at the BOZAR Centre For Fine Arts. "The Grand Atelier: Pathways of Art in Europe from the 5th to the 18th Centuries brings together 350 masterpieces from 150 museums for the first time in the biggest collaborative exhibition in the history of Europe. The show aims to trace the artistic cross-fertilisation in European culture from the end of the Roman Empire until the French Revolution, and it is staged to celebrate the 50th anniversary of the Treaty of Rome which led to the formation of the European Union." (04/10/2007)

LOKALNY KOLORYT

Vasabladet - Finlandia

Bilingualism helps the economy

Kenneth Myntti speaks out in favour of Finnish-Swedish bilingualism in the Finnish region of Österbotten and holds up South Tyrol as an example. "Particularly the tourism sector and agriculture, including viniculture, profit from South Tyrol's bilingualism, or to be precise, multilingualism because during the harvest time there is heavy demand for foreign seasonal workers. Apart from the odd upset in politics, everyday life goes smoothly in South Tyrol. Thanks to the language quotas in local politics, both language communities are on an equal footing. ... What can we learn from this? Naturally conflicts between the two different language communities are deep-rooted and can flare up at any time. But there are also many examples proving that multilingual, multicultural regions have better economic opportunities than isolated unilingual regions." (04/10/2007)

Corriere della Sera - Włochy

The German Shepherd is opposing the two former blocks

East against west, Germany is now divided because of its dogs, notes the journalist Danilo Taino. "Yesterday, [Wednesday, October 3rd] Germany celebrated its reunification. And if since 1990 humans have started to feel like brothers, the same does not go for dogs. Especially for German shepherds, the national pride of the western regions as much as in the east. The debate is ever more heated and there is nothing like a day exalting German reunion to spur it on. Which race is the best? The one born of capitalism or of socialism? ... The fact is that the debate is not only ideological. Lately in the German Shepherd business the oriental genetic formula seems to be quite a success." (04/10/2007)

Inne