"The crash of January 21st 2008 is reminiscent of other periods in history. But there is something unique about this situation", considers Myret Zaki. "This is not a moment of panic following an act of terrorism like in September 2001. Nor is this the reflection of an excessive evaluation due to the bursting of a speculation bubble, like in 2000. This time, the brutal fall in stock exchanges has occurred while company balance sheets are healthy, outside of the financial and mortgage sectors. This crash represents an adjustment to reality since investors have understood that financial markets are infected by faltering bonds. ... The return of investors on the stock exchange, once it has been 'cleaned-up', must imperatively be accompanied by a fundamental consideration of the link between an actual bond and the financial title that is connected to it." (22/01/2008)

» Artykuł (Link zewnętrzny, francuski)
Więcej z przeglądu prasy na temat » Rynki finansowe, » Cały świat
Wszystkie dostępne teksty » Myret Zaki

Interviewed by Christian Losson, professor of economy Michel Aglietta explains why Europe is bound to be most affected in a grave crisis. "Ireland, the United Kingdom and Spain are going through a real-estate crisis that has a lot in common with the United States, though financing techniques differ with price bubbles, loans with variable inflation rates and excessive debts. The real-estate sector is going to crumble, if not collapse, and take its toll on the banks, which are considerably implicated. Germany, currently plumped up with its exportation, will also find itself with a bit of a chill. As for France, a country dreaming of 2 % growth, it's crazy. The most we can hope for is 1.5 %. Europe will be paying the price for its inert presence in globalisation. Incapable of mobilising a budgetary and monetary policy like the United States, it will take more time to recover." (22/01/2008)

» Strona www (Link zewnętrzny, Libération)
Więcej z przeglądu prasy na temat » Rynki finansowe, » Cały świat
Wszystkie dostępne teksty » Michel Aglietta, » Christian Losson

Eric Frey tries to explain the market crash: "The most powerful poison for markets is insecurity. Monday's major collapse of stock markets in Asia and Europe - Wall Street enjoyed a reprieve because of the national holiday - was not brought about by a new understanding of the world economy and banks, but rather by the opposite: no one knows what's actually going on in the global economy. … A recession in the USA would certainly hit Asia, and ultimately the EU as well. The oft-repeated hope - most recently expressed by Christian Noyer, governor of the Bank of France - that Europe's economy would uncouple from the recession in North America and continue to grow, has proven to be illusory up to now. And it's unlikely to be any different this time, either.” (22/01/2008)

» Artykuł (Link zewnętrzny, niemiecki)
Więcej z przeglądu prasy na temat » Rynki finansowe, » Cały świat
Wszystkie dostępne teksty » Eric Frey

Ariane van Caloen considers that "this crisis is worrying because it shows that banks still don't know what is on their balance sheets, credulously placing their trust in the often too flattering assessments that evaluating agencies give to debtors and different financial products. Long gone is the time when a banker had a clear idea of who the final borrower was. In today's world, liquidity is conveyed through countless opaque vehicles that seem to escape any surveillance. How can it be possible that numerous financial institutions, always on the lookout for higher returns, took so many risks without anyone sounding the alarm bell? This question is no doubt being asked within surveillance organisations without any answer being provided." (22/01/2008)

» Dalsze informacje (Link zewnętrzny, francuski)
Więcej z przeglądu prasy na temat » Religia, » Polityka gospodarcza, » Francja, » Cały świat
Wszystkie dostępne teksty » Ariane van Caloen

Local history museums and major national museums are equally based on nostalgia, says Hungarian media expert Péter György. He argues for change: "These exhibits are about a world in which cultural space and narratives were unambiguous and arranged to the last detail. The dominance of a particular canon can only be shaken by the introduction of an opposing canon. ... Just as the small townsfolk knew their way around their local museum, so did scholars and art historians know great art museums like the backs of their hands. But in contemporary art institutions, there is no universal order, no system of acceptable canons and opposing canons. We can scarcely find our way. Today, words like cooperation, relations, community and process are increasingly important – as opposed to the terms stability and modernity in the 19th century." (22/01/2008)

» Artykuł (Link zewnętrzny, węgierski)
Więcej z przeglądu prasy na temat » Wystawy / Muzea, » Węgry, » Europa
Wszystkie dostępne teksty » Péter György

Risto Penttilä, director of the Finnish Business und Politics Forum EVA, considers different leadership styles: "According to a joint Finnish-Swedish study, Swedish business culture places more emphasis on correct process: giving everyone the chance to be heard. This is considered more important in Sweden than the actual content or timing of a decision. But in Finland they concentrate on making the right decision at the right time. Placing so much emphasis on action can harm communication, but Finland's performance-driven leadership style can be explained in part by the country's history. ... Being right next to the Soviet giant, the Finns learned that survival is more important than style. … Swedish business leaders sometimes represent the viewpoint that the best management style would be a combination of Finnish determination and Swedish – or German – readiness to let everyone participate in decision-making." (22/01/2008)

» Artykuł (Link zewnętrzny, niemiecki)
Więcej z przeglądu prasy na temat » Przedsiębiorczość, » Niemcy, » Finlandia, » Szwecja
Wszystkie dostępne teksty » Risto Penttilä

On January 21st, Polish and Russian foreign ministers Radek Sikorski and Sergei Lavrov met in Moscow. The daily comments. "Poland is to lift its veto on Russia's talks with the European Union over a new partnership agreement between them, following Russia's decision to lift an embargo on Polish food imports. ... This visit therefore flags an important shift of position on this important diplomatic axis, which will have implications for other Europeans. The EU badly needs to reach a more comprehensive agreement with Russia, notably on energy, trade and economic relations, all of which affect political relations. There are many contentious issues on this agenda (such as the row over the British Council in Russia), just as there are in the Polish-Russian one. In both cases energy looms large, as the Poles still bitterly resent the Russian-German pipeline being built in the Baltic, they say to bypass them. But suddenly a number of these problems look more soluble." (22/01/2008)

» Dalsze informacje (Link zewnętrzny, angielski)
Więcej z przeglądu prasy na temat » Stosunki międzynarodowe, » Polska, » Rosja

The Kosovo question was not responsible for the victory of Serbian nationalist Tomislav Nikolic in the first round of the presidential elections, suggests Serbia correspondent Andrej Ivanji. On 3 February, Nikolic takes on the incumbent, pro-western President Boris Tadic. "Nikolic managed to win over millions of impoverished, unhappy and hopeless voters: the jobless who lost out in the transition; people who can't afford to buy new clothing for their children; youths with no prospects for the future, who have grown up in war and international isolation; retirees who live below the poverty level. This time, instead of employing extremist nationalist rhetoric, Nikolic concentrated mostly on populist socialistic slogans. And it worked. These days, fewer people than ever believe in the hasty promises of pro-European politicians that openness to Europe would bring milk and honey flowing into Serbia." (22/01/2008)

» Artykuł (Link zewnętrzny, niemiecki)
Więcej z przeglądu prasy na temat » Polityka wewnętrzna, » Serbia
Wszystkie dostępne teksty » Andrej Ivanji

Tamara Djermanovic, a professor of Serb origin who teaches at the Pompeu Fabra university in Barcelona, analyses the first round of the Serbian presidential elections that was won by the nationalist candidate Tomislav Nikolic on January 20th. "The international community could play a role over the next few days [the second round will be held on February 3rd] by showing its faith in Serbia and by treating it as an equal, in order to undermine the radical nationalist's victimised posturing and prevent them from using alleged western antipathy towards Serbia ... . On a more concrete level, if we were to promise the liberalisation of the visa system so that the young Serbian population - who practically grew-up in war time- could have the same freedom of movement as young Westerners so, it would be possible to establish a real launch-pad for democracy... . " (22/01/2008)

» Strona www (Link zewnętrzny, La Vanguardia)
Więcej z przeglądu prasy na temat » Stosunki międzynarodowe, » Polityka UE, » Polityka wewnętrzna, » Europa, » Serbia
Wszystkie dostępne teksty » Tamara Djermanovic

As the Lisbon Treaty is being perused in Parliament after Gordon Brown refused a referendum to ratify it, political commentator Steve Richards warns us to "never underestimate Europe's capacity to shape and then re-shape British politics. The falls of Margaret Thatcher and John Major were brought about by Europe. The near-fatal schism in the Labour Party in the 1980s can be traced back to divisions over Europe. ... There is a curious dynamic about the politics of Europe. Although every poll suggests that voters are Eurosceptic, parties that adopt such a stance do not perform well at elections. Labour was slaughtered in 1983 on a platform that included withdrawal from Europe. The Conservatives did almost as badly in 2001 when they warned that there were only days to save the pound. Even though they are now more or less united as a Eurosceptic party, the Tories are still split over the implications of their hostility and how best to express it." (22/01/2008)

» Artykuł (Link zewnętrzny, angielski)
Więcej z przeglądu prasy na temat » Stosunki międzynarodowe, » Polityka UE, » Polityka wewnętrzna, » Wielka Brytania
Wszystkie dostępne teksty » Steve Richards

On January 23rd, Romano Prodi's Italian government will be submitted to a vote of confidence in the Chamber of deputies following the breaking away of a small party in its majority (UDEUR) provoked by the resignation of Justice minister, Clemente Mastella. Massimo Gianinni anticipates the fall of the governmental coalition. "Between big mountains of rubbish [in Naples] and petty personal revenge, the last hours of the Romano Prodi government are turning into a political nightmare and media torture. Nothing is ever normal, straight forward. ... In any other modern European country, a majority falls in Parliament when there is a breach in policy that electors notice and for which they accept no explanations. Only in Italy can the leader of a minor party announce the end of a political majority in a press conference, without previously explaining its motives in parliament ... . " (22/01/2008)

» Strona www (Link zewnętrzny, La Repubblica)
Więcej z przeglądu prasy na temat » Polityka wewnętrzna, » Włochy
Wszystkie dostępne teksty » Massimo Giannini

Russia and Bulgaria have signed the contract for building the South Stream gas pipeline, which is to pass through the Black Sea. The paper comments: "This contract shows that Europe is increasingly dependent on Russia for energy. It also confirms a new trend toward bilateral contracts. One of the things Putin said in Sofia was that South Stream should improve Europe's energy security. The same argument was given for North Stream - it, too, was a bilateral project, between Russia and Germany. You have to wonder whether the so-called shared European energy policy consists solely of such deals." (22/01/2008)

» Artykuł (Link zewnętrzny, estoński)
Więcej z przeglądu prasy na temat » Energia, » Polityka gospodarcza, » Rosja, » Europa, » Bułgaria

Zbynek Petrácek looks at the German debate over a possible boycott of Nokia mobile phones following the Finnish firm's announcement that they will move their factory from Germany to Romania. "The German arguments, which used to be aimed at the USA and at locusts [all-consuming, anonymous investors], today are aimed at EU members Finland and Romania. But Germany is the first to call the EU a community of values. What values are meant here? Does solidarity with unions have more weight than solidarity with the rules of fair play between all EU member countries? That's what the Nokia case is all about." (22/01/2008)

» Artykuł (Link zewnętrzny, czeski)
Więcej z przeglądu prasy na temat » Przedsiębiorczość, » Polityka gospodarcza, » Niemcy, » Finlandia, » Rumunia
Wszystkie dostępne teksty » Zbyněk Petráček

Iulian Enache comments on the decision by Finnish mobile phone producer Nokia to move its production facility from Germany to Romania. "To criticize a company for moving to another country reminds me of something that former President Iliescu said a few years ago, that he didn't believe everyone should just do whatever they wanted with their own money. [EU Commission President] Barroso has reacted calmy: if Nokia can move from Finland to Germany, the company can also move from Germany to Romania; this is absolutely normal. On the other hand, you have to admire the attitude of the Germans in general and of German politicians in particular. They will take on the EU, Nokia and maybe even the Almighty Himself over the incomes of 2,000 of their own. In Germany, a citizen counts for something." (22/01/2008)

» Artykuł (Link zewnętrzny, rumuński)
Więcej z przeglądu prasy na temat » Przedsiębiorczość, » Niemcy, » Finlandia, » Rumunia
Wszystkie dostępne teksty » Iulian Enache

Geert Wilders, head of the Dutch Freedom Party (PVV, far-right) is causing anxiety in the Netherlands with a film project that apparently presents the Koran as an "awful fascist book". "Geert Wilders' provocations are swiftly going round Arab circles", notes the daily. "According to the experts, in Arab countries where any criticism is impossible, no distinction is made between independent media and the political world. Thus, if the government allows Wilders to have his anti-Koran film broadcast, it will be assumed that his opinions are shared by the government. Up until now public radio and television stations have not appeared prepared to show this film. ... If however it decides to boycott the film, Wilders can still hope to have it broadcast Nederland1 which grants political parties airtime. In this sort of programme, the party is master of the contents for three minutes. Thus, on Friday, at 5.50 pm., it will be the PVV's turn." (22/01/2008)

» Artykuł (Link zewnętrzny, niderlandzki)
Więcej z przeglądu prasy na temat » Polityka wewnętrzna, » Religia, » Holandia, » Cały świat

Bulgarian director Alexo Petrov's film 'Baklava', which depicts conditions in a Bulgarian home for children, has generated impassioned discussion in the country. Even before the film's international premiere, the deputy director of the Agency for Child Protection and the head of the home shown in the film have been fired. Janko Tersiew observes: "The case of 'Baklava' shows that art with a social conscience can change the status quo. ... Art can perceive symptoms and present a diagnosis. But healing can only be accomplished by a state that is determined, financed and controlled by its people. … You might be put off by Alexo Petrov's means of expression, but you have to defend his freedom to use it." (21/01/2008)

» Artykuł (Link zewnętrzny, bułgarski)
Więcej z przeglądu prasy na temat » Film, » Bułgaria
Wszystkie dostępne teksty » Ianko Terziew