#STOPTTIP ‘ Over 2-Million Europeans sign Petition over Agreement between EU & US ‘

#AceFinanceNews – Featured Report:MOSCOW:June.08: More than 2 million Europeans have signed a petition against the controversial free trade agreement between the European Union and the United States, which critics say benefits big corporations, not citizens.

TTIP Protesters call Agreement a Trojan Horse'
TTIP Protesters call Agreement a Trojan Horse’

The Stop TTIP activists originally planned to reach the 2-million threshold by October 2015.

The European Commission is scheduled to vote on the TTIP resolution on Wednesday.

Last month, campaigners called on the European Union to vote down the investor-state dispute settlement, which has been their major concern in the draft deal as they say it favors foreign investors.

Anti-TTIP activists have repeatedly pointed out that the deal was negotiated in notable secrecy, without due government or expert oversight.

The Stop TTIP group also opposes a free trade deal with Canada, known as the Comprehensive Economic Trade Agreement.

@AceFinanceNews

#albania, #brussels, #european-commission, #european-union, #greece, #italy, #member-state-of-the-european-union, #refugee, #ukraine

‘ Agricultural Sector Losses Due to Russian Sanctions Will Reach 200 Million Euro’s ‘

#AceFinanceNews – ROME – September 23 – The losses of the Italian agricultural sector as a result of Russian counter-sanctions in response to Western punitive measures against Moscow for developments in Ukraine will total €200 million annually, experts from the Coldiretti association uniting representatives of the sector said Tuesday.

With the ban on imports to the territory of the Russian Federation of a number of food products — vegetables and fruits, cheeses, meat and sausage products, as well as fish, Italy will lose about €200 million a year,” Coldiretti said.

Besides direct losses, the industry will also sustain indirect losses, experts said.

In particular, the association is afraid that products imitating Italian will land on the Russian market, which will harm the reputation of Italian products.

Not to mention the fact that Italian suppliers will be ousted from the Russian market, which is considered one of the most promising and fast growing.

Italian Agriculture Minister Maurizio Martina is pushing for the unblocking of European Union funds due to be allocated to support farmers affected by Russia’s counter-sanctions.

Ways to overcome the crisis and compensate for the losses to European agriculture will be considered at an informal meeting of EU specialized ministers to be held in Milan on September 28-30 as part of Italy’s presidency of the European Union.

Reported by . /ITAR-TASS/.

#AFN2014

#cheeses, #counter-sanctions, #eu, #european-union, #fish, #fruits, #italy, #milan, #rome, #russia, #russian, #vegetables

‘ Russian Sanctions on Kalashnikov Will Damage US Markets ‘

#AceFinanceNews – MOSCOW – July 17 – Imposing US sanctions on the Russian corporation Kalashnikov, which manufactures the world-famous AK automatic assault rifles, runs counter to the interests of American customers, a spokesman for Kalashnikov told ITAR-TASS.

“For Kalashnikov, which is a subsidiary of the Rostecnologies state corporation, the US is an important market for selling arms,” the spokesman said. “It should be noted that the Kalashnikov products are very popular in the US, and the amount of prepaid orders for arms there is three times as big as the annual supplies volume.”

“This means that the sanctions the US Administration has imposed on Kalashnikov contravene the interests of US consumers,” he said.

Kalashnikov Consortium is the largest producer of automatic and sniper combat arms, guided artillery shells and non-military products. It exports arms and tools to 27 countries, including the US, the United Kingdom, Germany, Norway, Italy, Canada, Kazakhstan and Thailand.

#AFN2014 

#canada, #germany, #italy, #kalashnikov, #thailand, #united-kingdom, #united-states

` Italy will Close ` Four Embassies ‘ and Abolish Post of UNESCO Representative to Cut State Expenditure ‘

#AceFinanceNews – ROME – April 04 – Italy will close four embassies and abolish a post of its representative in UNESCO as part of a program to curtail state expenditure, RIA Novosti reported.

Its embassies in Honduras, Iceland, the Dominican Republic and Mauritania will be closed.

#AFN2014

#italy, #rome, #unesco

` Italy's ` Matteo Renzi 'off to a bad start as he is forced to amend his electoral reform '

#AceGuestNews and Views says that the author is a Reuters Breakingviews columnist Neil Unmack

The opinions expressed are his own.

Matteo Renzi has been forced to amend his electoral reform. The result could mean that Italy will remain ungovernable. The new prime minister’s hand is weaker, even though the risk of early elections has subsided. And serious economic reforms will be harder.

The proposed electoral law, brokered with right-wing leader Silvio Berlusconi in January, promised to end the chaos of Italy’s current system, where the upper and lower houses of parliament carry equal weight but are elected according to different rules. That has made governments weak and ruling coalitions unstable. The 2013 elections were no exception, making Renzi’s centre-left party the largest – but short of a majority.

Italy’s politicians have feigned to want to change the system for years. They were finally forced to do something after the country’s Constitutional Court ruled they had to. Renzi’s proposal was to introduce a two-rounds ballot system, to create a clear winner in case of an ambiguous first-round vote. The upper house, the Senate, was to be stripped of its powers and restructured later on.

There was always a risk the law would be butchered in parliament. That may have been the reason why Renzi moved to oust his predecessor, Enrico Letta, last month. But now his own party has introduced changes to make the law only applicable to the lower house. Senators will be chosen through a proportional system. Different electoral systems for both houses could lead to deadlock. Renzi argues that it doesn’t matter since the Senate will be restructured anyway. But that could take years.

At least the risk of new, early elections has subsided somewhat. That could give the current coalition time to pass reforms, and allow Italy’s parties right and left to regroup after the turmoil of recent years. Yet immobilism has a cost. Renzi is now weaker in the eyes of both voters and politicians. Having seized power through a palace coup, he can’t seek electoral backing for his reform agenda. And he can’t use the threat of an election to cajole other politicians into accepting tough reforms.

The electoral law was to be just the first of Renzi’s great reforms: he also wants to shake up labour laws and the judiciary to revive Italy’s flagging economy. His first misstep won’t make that easier.

Italy’s politicians have feigned to want to change the system for years. They were finally forced to do something after the country’s Constitutional Court ruled they had to. Renzi’s proposal was to introduce a two-rounds ballot system, to create a clear winner in case of an ambiguous first-round vote. The upper house, the Senate, was to be stripped of its powers and restructured later on.

There was always a risk the law would be butchered in parliament. That may have been the reason why Renzi moved to oust his predecessor, Enrico Letta, last month. But now his own party has introduced changes to make the law only applicable to the lower house. Senators will be chosen through a proportional system. Different electoral systems for both houses could lead to deadlock. Renzi argues that it doesn’t matter since the Senate will be restructured anyway. But that could take years.

At least the risk of new, early elections has subsided somewhat. That could give the current coalition time to pass reforms, and allow Italy’s parties right and left to regroup after the turmoil of recent years. Yet immobillism has a cost. Renzi is now weaker in the eyes of both voters and politicians. Having seized power through a palace coup, he can’t seek electoral backing for his reform agenda. And he can’t use the threat of an election to cajole other politicians into accepting tough reforms.

The electoral law was to be just the first of Renzi’s great reforms: he also wants to shake up labour laws and the judiciary to revive Italy’s flagging economy. His first misstep won’t make that easier.

By Neil Unmack

#AFN2014

#acefinancenews, #enrico-letta, #italy, #matteo-renzi, #neil-unmack

Greece and Italy will make the Mediterranean region…

Greece and Italy will make the Mediterranean region and alternatives to austerity the main priorities of their EU presidencies in 2014, the two countries’ foreign ministers have said.
http://euobserver.com/political/121484

#acedebtnews, #european-union, #foreign, #greece, #italy, #mediterranean, #ministers

Mario Draghi-Call Me Bond Junk Bond

Printer Mario Draghi

Printer Mario Draghi (Photo credit: Ondrej Kloucek)

The Before Thursday:

After Ben Bernanke took the stage in Jackson Hole last week to rather defensively suggest the Fed will act soon, Thursday is Mario Draghi’s turn.

Before we get into the details of what the ECB could announce, a quick update on the European debt crisis: It’s still there. Yields for Spanish and Portuguese debt are at or above the 7% danger zone, and Italy is publicly complaining that their debt costs have little basis,Jens Weidmann, Germany’s top central banker, meanwhile, is reportedly both isolated and threatening to quit over his opposition to the ECB buying debt of struggling EU countries.

In a closed-door meeting in Brussels yesterday, Mario Draghi told the European Parliament that he’d be comfortable buying EU members’ bonds with maturities of three years or so. This, Draghi reportedly said, wouldn’t violate EU treaties. (Bill Gross tweeted that this bond-buying program would be something like writing “2-3 year checks”).

Of course, ECB bond-buying has been the summer’s worst-kept secret. As the WSJ’s Matt Phillips noted, Draghi said this on July 25: “To the extent that the size of these sovereign premia (in Spain and Italy) hamper the functioning of the monetary policy transmission channel, they come within our mandate”.

Draghi’s hints mean that three years into the European debt crisis, the ECB may finally return to limited, direct financing of struggling governments. Analysts, however, are all over the map about what the ECB may actually announce after its meeting on Thursday, and whether it will involve yield caps.

One safe bet: more political entanglement. Even though Draghi insists the ECB is not political, his actions are still very much wrapped into discussions on what he recently called “the sharing of powers and of accountability”. Or, as Nomura put it: “Just imagine if the Fed had to play tough with California or worse Texas for example, to effectively impart monetary policy”.

The Economist‘s Charlemagne blog has a great description of Draghi’s predicament: He simply can’t fix Europe without the help of the continent’s leaders:

The After Thursday:

So finally after all the wheeling and dealing Mario Draghi got his own way and opened Pandora’s box and now we wait! This is the fact that the ECB the “lender of last resort” has finally supported ” buying up debt” and letting it be sold as ” junk to the highest bidder.” We can all con ourselves this is for the good of the euro zone but really we know it is for the good markets and nobody else!The real winners short-term are the gamblers of our food,oil and lives!

The control of the masses by the few is how we should see it and the sheer fact that our lives are controlled by a simple but very effective piece of paper called simply a “share.” Well now we own a share of ” gambling debt” a little like an IOU that will never be repaid! So instead of having ” junk bonds” we now have junk funds, capitalise by gambling debt!

And as we all know when you are in debt one day you have to repay pay it or eventually declare bankruptcy!

#ben-bernanke, #draghi, #ecb, #european-central-bank, #italy, #jackson-hole, #jens-weidmann, #mario-draghi

Ever Wondered Who Has All Those Euro`s

Mariano Rajoy en Bilbao. Imagen tomada por Ike...

Mariano Rajoy en Bilbao. Imagen tomada por Iker Parriza (Photo credit: Wikipedia)

Just picked up these details of who actually has the highest capital available in Euro’s and how much is really available to lend. Not a surprise Germany leads the pack!

Also that maximum available for lending is just 500 billion not a lot when Spain has been promised 100 billion or 1/5th of the pot. This relationship to countries and the funding mechanism known as the EMSF will not cover further bailouts as was announced on EUobserver today with comment as follows:

Italy‘s Mario Monti has said his country does not need a bail-out, even though its borrowing costs have soared amid contagion from Spain. This is and seems to be recent history repeating itself as the same comments were made by Spain’s Prime Minister Mariano Rajoy at 9am UK time that they did not need a bailout then they needed 40 billion a few hours later. By the following day at 4pm UK time they needed 100 billion.

So my question is how long will it be before the Euro Zone runs out of money?

#bailout, #european-union, #eurozone, #germany, #italy, #mariano-rajoy, #mario-monti, #spain