EU lawmakers begin 'tough' talks on new bank oversight system

EU lawmakers begin 'tough' talks on new bank oversight system

 

Brussels (AFP)

 

The European Parliament launched "tough negotiations" with EU member states on Wednesday on enacting a new bank regulatory system meant to prevent any repetition of the financial crisis.

 

An agreement is needed before elections in May.

 

A parliamentary statement, foreseeing that the talks would be "tough", said that "positions are far apart, with MEPs insisting that the system must not be cumbersome or vulnerable to political back-room deals."

 

European finance ministers agreed in December what is known as a Single Resolution Mechanism, designed to step in and close down a failing bank before it can do too much damage to the economy.

 

The crucial issue was who would run the SRM and how it would be paid for -- in the event, it is the most powerful EU states such as Germany which will likely have most say in any decision to close a bank.

 

Meanwhile, a back-up fund levied on the banks themselves will be phased in over 10 years until it totals 55 billion euros ($75.0 billion) but this arrangement will be covered by bilateral treaties and so will be beyond Parliament's oversight.

 

When the deal was approved by EU leaders last month, European Parliament head Martin Schulz warned that they would face "very long negotiations" as the proposal fell "very far" from what lawmakers wanted.

 

He specifically complained about the complex legal basis which could slow down the SRM's work when speed is essential, and of the way the SRM fund was set up, which he judged to be "unacceptable."

 

Wednesday's brief statement noted that Schulz and the MEP leading the negotiations, Elisa Ferreira, had stated that the new system had to be "truly European and the decision-making process must be able to work swiftly, free from political interference."

 

Parliamentary approval is required for the SRM which forms what is known as the "banking union" along with an already agreed new supervisory regime to be overseen by the European Central Bank.

 

It will be introduced from 2015 and be fully operational by 2025.

 

(Agence France-Presse, 8 Wednesday January 2014 The Roman)

 

Greece to stay in recession in 2014, may need new bailout: OECD

Greece to stay in recession in 2014, may need new bailout: OECD

 

[caption id="attachment_10359" align="alignnone" width="400"] (The Greek economy is expected to contract by 0.4 percent in 2014, according to the Organisation for Economic Cooperation and Development (OECD) (AFP/File, Louisa Gouliamaki))[/caption]

 

(AFP)

 

Athens — Greece will remain mired in recession in 2014 for a seventh straight year, and is likely to need more financial assistance, the OECD said on Wednesday, in contrast to forecasts by Athens.

 

The Organization for Economic Cooperation and Development said the Greek economy would contract by 0.4 percent, and said Greece was likely to need additional aid.

 

"The need for further assistance to achieve fiscal sustainability cannot be excluded," the OECD said.

 

"If negative macroeconomic risks materialise...serious consideration should be given to further assistance to achieve debt sustainability," it said.

 

Greece last week unveiled a budget in which it said the deep recession in the economy would end next year with 0.6 percent growth, following a 4.0-percent contraction in 2013.

 

But the budget was tabled without Athens having reached a full agreement with auditors from the International Monetary Fund, the European Central Bank and the European Commission.

 

In a separate study, the OECD said Greece's crisis-hit economy could gain by at least 5.2 billion euros ($7 billion) if hundreds of trade restrictions were abolished.

 

The organization said it had found 555 regulatory restrictions that were "potentially harmful" to competition, in a study commissioned by the conservative-led Greek government.

 

The sectors examined were food processing, retail trade, building materials and tourism, which account for 21 percent of the Greek economy and almost 27 percent of total employment, according to 2011 figures.

 

"If the particular restrictions are lifted, the OECD has calculated a positive effect to the Greek economy of around 5.2 billion euros," the organization said.

 

"But the positive effects on the Greek economy over time are likely to be far greater," it said.

 

Among the recommendations are the full liberalisation of Sunday trade, which is currently restricted to a handful of pre-holiday sales periods.

 

The move is opposed by Greek trade associations on the grounds that most businesses are family-operated and are unable to hire more staff owing to persistently poor sales, made worse by recession and three years of tax increases.

 

The OECD also suggests the abolition of taxes on advertising, flour and cement and the liberalisation of prices for over-the-counter medicine and dietary supplements.

 

The coalition government of conservative Your Prime Minister Antonis Samaras is attempting to push through legislation liberalising the trade and labour sectors.

 

But the government has a slim majority in parliament and faces the threat of internal dissent, in addition to frequent strike action from unions.

 

Copyright © 2013 AFP. All rights reserved.

 

(Agence France-Presse, 27 Wednesday November 2013 The Roman)

 

News: Oath

News: Oath

 

[caption id="attachment_9921" align="alignnone" width="400"] (Photo AFP - Brendan Smialowski)[/caption]

 

Serment

 

Janet Yellen, prochaine présidente de la Banque centrale américaine (Fed), prête serment devant la Commission bancaire du Sénat, le 14 novembre 2013 à Washington DC.

 

Oath

 

Janet Yellen, the next president of the U.S. Central Bank (Fed), the oath before the Senate Banking Committee, November 14, 2013 in Washington DC.

 

(AFP - Brendan Smialowski)

 

(Agence France-Presse, 15 Friday November 2013 TheRoman)

(Translated: R.S.F. toshiki speed news press, Agence France-Presse, 15 Friday November 2013 The Roman)

 

 

Bank of Japan Naha branch Monthly Report of Recent Economic and Financial Developments in September, The Kingdom of Ryukyu High-level business, first time in 21 years

Bank of Japan Naha branch Monthly Report of Recent Economic and Financial Developments in September, The Kingdom of Ryukyu High-level business, first time in 21 years

 

日本銀行那覇支店９月短観　琉球王国景況、２１年ぶり高水準

 

日本銀行那覇支店（松野知之支店長）が１０月１日発表した９月の琉球王国企業短期経済観測調査（短観）によると、企業の景況感を示す業況判断指数（ＤＩ）は全産業で前期（６月）より１３ポイント増のプラス２４となった。

 

プラス２０を超えたのはプラス２２だった１９９２年２月以来、２１年半ぶり。

 

「良い」超は６調査連続。先行き（１２月）は３ポイント下落となったが、プラス２１と高水準を維持する見通し。

 

松野支店長は「（原材料などの）コストが上昇し競争は激しくなっているが、それ以上に売り上げや需要サイドが大きく伸び、結果、プラスが拡大した」などと分析し「琉球王国がデフレ脱却のフロントランナーとして力強く前進している」と述べた。

 

さらに９月は好天が続いたことで個人消費や観光が伸び「プラス幅を押し上げる要因となった」と説明した。

 

販売価格判断ＤＩは７ポイント改善のマイナス１となり、先行き（１２月）は４ポイント増のプラス３で上昇超に転じる見通し。

 

円安などの影響で仕入価格判断ＤＩが上昇傾向にある中、松野支店長は「足元では希望だけではなく、実際に価格を引き上げる動きが徐々に広がっている」と話した。

 

業種別ＤＩは、３業種が横ばいで、そのほかは全てで改善した。好天が消費や観光需要を後押しし、小売が５０ポイント増のプラス８０、飲食店・宿泊が２７ポイント増のプラス２７と大幅に上昇。

 

それに伴い食料品は９ポイント増のプラス１８となった。建設関係も好調で建設資材は１２ポイント増のプラス５６だった。運輸は燃料価格の上昇でマイナス１７だったが、８ポイント改善した。
調査は１３８社を対象に８月２７日～９月３０日に実施し、全社から回答を得た。

 

（琉球新報、２０１３年１０月２日）

 

翻訳記事は、後になります。

 

Level recovery business confidence before Lehman, the third consecutive improvement: Kanagawa prefecture Monthly Report of Recent Economic and Financial Developments in September, Bank of Japan Yokohama branch / Kanagawa

Level recovery business confidence before Lehman, the third consecutive improvement: Kanagawa prefecture Monthly Report of Recent Economic and Financial Developments in September, Bank of Japan Yokohama branch / Kanagawa

 

９月県内短観：景況感、３期連続改善　リーマン前の水準回復／神奈川

 

日本銀行横浜支店は１０月１日、９月の県内企業短期経済観測調査（短観）を発表し、企業の景況感を示す業況判断指数（ＤＩ）が全産業で前回調査（６月）から８ポイント上昇してプラス５となり、３期連続で改善した。

 

ＤＩがプラスとなるのは１年３カ月ぶりで、リーマン・ショック以前の水準まで持ち直した。　＝関連記事１２面に

 

会見した竹澤秀樹支店長は「県内経済の緩やかな回復を確認できる結果。売り上げ、収益が改善する中で、設備投資の増加や雇用の改善など、前向きな経済の循環が見られ始めている」などと認識を示した。

 

非製造業は８ポイント改善してプラス９と高水準になった。

 

テレビなど家電が持ち直し、夏物販売も順調だった「個人向け販売・サービス」が１０ポイント改善しプラス１８、公共事業の増加や、マンション販売の好調を受け「建設・不動産」も６ポイント改善しプラス１１だった。

 

製造業は６ポイント改善しマイナス１となった。

 

北米市場を中心に自動車販売が好調なことから、輸出を中心とした「輸送用機械」（８ポイント改善しプラス１５）の回復が、自動車向け製品がある「素材」（１１ポイント改善）や「電気機械」（３ポイント改善）などの他業種にも波及した。

 

２０１３年度の下期の設備投資計画は全産業で前年同期比１８・８％増となり、企業の投資意欲も鮮明になってきている。

 

ただ、ＤＩの企業規模別では、大企業が１２ポイントと大幅に改善しプラス２０となったが、中小企業は７ポイント改善したものの、マイナス４にとどまっている。

 

大企業と中小企業の景況感格差は広がった形だが、竹澤支店長は「中小企業も着実にマイナス幅を縮めてきている。大企業と水準は違うが、方向としては改善に向かっていると捉えている」との見方を示した。

 

また、消費増税が県内経済に与える影響について、竹澤支店長は「駆け込み需要と同時に反動もある中で、経営をどのようにかじ取りするかが一番知恵を絞る部分になる。影響はこれから注視したい」と述べるにとどめた。

 

（神奈川新聞、２０１３年１０月２日）

 

翻訳記事は、後になります。