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Tuesday, 20 December 2011
France will calm deal with relegation risk
Topic: business,society

French President nicolas sarkozy said on Wednesday, even though the international credit rating agencies cut the AAA sovereign rating in France, the French will also to respond calmly and the demotion of not unable to overcome difficulties caused. Previously, the big three rating agency moody's and s&p, fitch ratings, pointed out that, 9, at the summit, European Union, the euro-area economy rating is still there was cut risk. Sarkozy 12,, in accept as enticing as, the French government is expected to economic growth in 2012 to 1%, even if the economy grew only 0.5%, France also is expected to cut the deficit target. But sarkozy ruled out cutting civil service salary or pension may. He expresses at the same time, the French government for the country's banking restructuring will not put into money. Sarkozy think, 9, the eu summit, 26 countries to finance new rule reached an agreement, the rating agency warned made part of the response, France and Germany, the two countries have to avoid the eurozone collapse made best. He says: "should see a new Europe is born, economic convergence, budget and finance rules will become the key words of the euro zone." But he is still on the debt crisis cautious about the outlook, "I hope to be able to announce the dangers have completely over, but it is not down this judgment". At the same time, sarkozy admit, Britain refused to modify the eu treaty, forcing the other European Union 26 countries set up other financial new testament, will cause some degree of influence, "now obviously there are two European, one is to strengthen unity and normative Europe, another is to stick to a single market of Europe". 9 before the eu summit, the s&p will the euro area 15 members sovereign rating, the European Union AAA rating, the European financial stability tools (EFSF) rating and several European Banks rating into negative watch list. The European Union after the summit, three rating agencies have said, at the summit enough to cope with the debt crisis. Fitch ratings 13 release report points out, the debt crisis and comprehensive solution "has not yet ready", the European Union summit to plan failed to fundamentally relieve pressure, short-term pressure will last.

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Posted by terminalcables at 1:41 AM EST
Us recession led to the rich income down sharply
Topic: business,society

The irs data shows, the United States pyramid the top 1% of extremely rich people in total revenues in 2007 accounted for 23% of the total annual revenues, but in the year 2009 has fallen to 17%, and the average annual income has fallen below $1 million. In the U.S., 1% of the extremely rich people in 2007 average annual income reached 1.4 million us dollars, to 2009 slipped to 95. 70000 dollars. Analysts pointed out, the rich revenues shrink, thanks to the stock market in 2008 during the financial tsunami collapse, securities assets value and dividends are poor performance. But in 2010, the stock market rally, the rich nav may again to bounce back. Although the wealth declined, but others accused by increasing inequality. According to the irs data, in 2009, 1% rich assets fell to the level of 1998. But in 1990, the rich annual income of $662000, a 44% growth in 20 years. According to the irs data analysis, 1% of the annual income and stock market was a close association, globalization in the United States caused the financial industry prosperity, people from all walks of life in the financial markets and enterprise growth top be divided up, economic growth makes the stock market boom, but the bottom can enjoy the fruits of bring growth, the gap between rich and poor to expand. Turn over the last century income material, 1% of the annual income growth only slightly higher than inflation, far more than the middle class has grown slowly, this trend from the s to the 70 s continue; By 1980, the rich income is still accounts for only of the annual revenues of the 10%, but later start gap widening. The 1990 s, engulfing the world a wave of globalization did not give the blue-collar and benefit the middle class, cheap labor blue-collar jobs looted the United States. The information revolution appear, simplify the office work process, the stable middle class income be moved, the so-called "investment profit" were not reflected in the middle class family income. In the 1980 s the United States of tax cuts, is also regarded as the cause of the inequality between the source. According to the irs digital analysis, this wave of economic recession did not shake the structure of the difference of income of rich and poor, rich income decrease, but the average family feel more deeply.

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Posted by terminalcables at 1:37 AM EST
Updated: Tuesday, 20 December 2011 1:44 AM EST

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