Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n° 301

Posts Tagged ‘reform’

Formation of Italy’s new government raises questions on sovereign outlook, euro area reform

Posted by fidest press agency su mercoledì, 23 Mag 2018

The Five Star Movement (M5S) and Lega displaced mainstream parties in the March general election, and the two populist groups have joined forces in negotiating the final steps to form a new government. The coalition pact was voted through in membership ballots this weekend. In Scope’s post-election comment published on 5 March, we touched on the probability of this outcome.
Italy’s 10-year yield spread to Bunds stood at 175 bps as of Tuesday, up sharply on lows of 114 bps as recent as late April.“The Italian economy holds structural weaknesses tied to low growth, high public debt of 132% of GDP, alongside institutional bottlenecks. The composition and inexperience of this probable new government cast doubt on the country’s future commitment and ability to resolve such challenges,” say Scope analysts Dennis Shen and Dr Giacomo Barisone.“Many of the negotiated policies would still, in their present form, impose multibillion-euro extra yearly costs on the state without corresponding cuts in government spending or increases in fiscal receipts. However, we believe that many of the proposals are unlikely to be enacted in their current forms, and will probably continue to be watered down, if not blocked.”
Scope notes that earlier controversial proposals, like the request to write-off EUR 250bn of Italian government debt and language referencing EU treaty change to facilitate exits from the Economic and Monetary Union have been excluded from the final two-party agreement.Nevertheless, the policy pact includes Lega’s proposed tax reduction to a flat rate of as low as 15% for companies and individuals, the rolling back of 2011’s flagship pension reform, as well as M5S’s citizenship income. Estimates have placed these actions at a cost of more than EUR 100bn.
President Sergio Mattarella has indicated his opposition to unfunded spending plans. There are additional constraints on the government’s actions including the Constitution, European treaties, as well as the global financial system. The two parties’ small parliamentary majority, especially in the Senate, Lega’s polling gains, and the probability of forced moderation of campaign promises will test the unity and longevity of this government. Nonetheless, the implementation of even some of the suggested measures, probable inaction on other areas of needed reform, and extended political uncertainty cloud the path ahead for Italy’s “A-/Stable” sovereign ratings.
This new government will also have implications for the European reform agenda. Scope has stated its belief that chances of an ‘Ital-exit’ from the euro are low even in the scenario of this exact government formation. Nonetheless, the parties’ desire to reverse fiscal consolidation and renegotiate EU economic and fiscal governance institutions may result in tension between Italy and European institutions and slow the pace of regional institutional reform.

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Mexico’s “Silence Law” Demoted OTC Discussion of Oil Reform – Energia.com

Posted by fidest press agency su mercoledì, 23 Mag 2018

A report on Mexico’s profile at the Offshore Technology Conference (OTC) has been published by Mexico Energy Intelligence® (MEI), a Houston-based digital publication dedicated to regulatory, commercial and institutional developments in the Gulf of Mexico.OTC is the premier global conference for the oil and gas industry. This year it was attended by some 70,000 delegates, speakers and exhibitioners from more than 100 countries. Its speakers come from the top ranks of industry, government and academia.The report tells how Mexico’s “Silence Law” indirectly nixed discussion of the unprecedented opening of the country’s oil and gas resources to private investment. In fewer than 3 years, Mexico’s National Hydrocarbon Commission (CNH) held 8 lease auctions and awarded 107 contracts to nearly 80 companies from a dozen countries. What has been the experience of bidders and Pemex partners? What is the outlook for production and policy continuity? What could be improved? Such questions would ordinarily be the focus of OTC panels.This year, however, a uniquely Mexican restriction of speech interfered with OTC programming. A “Silence Law” prohibits officials from speaking in public during the 3 months prior to a presidential election about their accomplishments. Prudently or otherwise, officials interpreted this law to include OTC. Given the unavailability of high-level government speakers, OTC decided to eliminate panels that would assess the success and misalignments of the upstream reforms.
Although absent from the program, Mexico was not absent from the premises. Pemex had a booth in the main exhibition hall and there was a Mexico Pavilion in an adjacent building.Ulises Hernández was a last-minute, breakfast speaker on the final day. He spoke of Pemex’s plans to develop its portfolio and to seek partners for frontier plays. Ernesto Ríos, director of Mexico Petroleum Institute, said it could serve as a bidder’s engineering partner in a lease auction. The presentations showed the expanding commercial ambitions of these government agencies.One panel on investments in the Gulf of Mexico featured a real-time survey via a cellphone app. One question asked about the “biggest inhibitor to unleashing Mexico’s oil potential.” 67% answered “political uncertainty.”“Beyond matters concerning Mexico, OTC 2018 was another all-you-can-eat buffet of learning and networking opportunities regarding energy law, regulation and technology,” observed George Baker, MEI’s publisher.

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Indian Premier Joins World Leaders to Champion Technology and Reform at World Government Summit

Posted by fidest press agency su lunedì, 12 febbraio 2018

Narendra ModiIndian Prime Minister Narendra Modi championed technology as a means of development and warned of its potential to be used as a means of destruction in his address at the sixth World Government Summit (WGS 2018) in Dubai.“Technology has empowered the common man via minimum government, maximum governance. In e-governance, the ‘e’ represents effective, efficient, easy, empowering and equity. Technology has transformed the UAE from a desert into a modern wonder, but it also has a darker side of radicalization of cyberspace,” he said. Modi led a delegation from India, the guest country at this year’s WGS.Earlier today, French Prime Minister Édouard Philippe outlined his country’s roadmap for transformation that includes a progressive climate change policy, corporate tax reduction and a labor law reform. “It is our priority to fix our country and prepare for the future,” he said.
Christine Lagarde, Managing Director of the International Monetary Fund, was bullish on the outlook for economic growth despite recent market volatility. She urged governments to implement overdue reforms and offer hope to young people by building stronger economies. “Governments, especially in this region, where 60 percent of the population are under 25 years old, need to focus on policies that will energize the economy and encourage job creation,” she said. (photo:
Narendra Modi)

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Asylum reform: EU leaders must not drag their feet on new Dublin rules

Posted by fidest press agency su venerdì, 15 dicembre 2017

councilCouncil progress on the revamp of the Dublin system to ensure a fair and responsible EU asylum system should not be further postponed, says Parliament’s lead MEP Cecilia Wikström. Ahead of the European Council, she also warns that Parliament will not sign off on any reform that does not change the situation on the ground.Parliament’s lead MEP on the Dublin reform, Cecilia Wikstrom (ALDE, SE) said: “President Tusk’s recent meddling in the legislative process on the Dublin regulation is clearly unhelpful and deeply damaging to the legislative process, as well as to the inter-institutional relations between the European Parliament and EU governments in the Council.
– His comments, that he would propose a way forward on the Dublin reforms if European leaders cannot agree on a position by June 2018, are arrogant and disrespectful to the European Commission, which has already put forward a proposal on Dublin reforms, as well as to the European Parliament, which has recently adopted a mandate for negotiations by a large majority.
– It is understandable that member states would want to try and find a consensus on such an important issue, but it is equally clear from the last 18 months of fruitless debate in the European Council that such a unanimous position will never be possible to reach, since a small number of member states are determined to obstruct any form of constructive reforms of the Dublin regulation.
– European leaders need to stop meddling in and blocking the legislative process on the Dublin regulation. They need to give a clear mandate to Justice and Home Affairs ministers to proceed with the legislative work as required under the treaty, in order to find a position with a broad majority that can then be negotiated with the European Parliament as co-legislator. Dragging out talks in the European Council on the Dublin regulation until June 2018 leaves almost no time for negotiations between the co-legislators before the next European Parliament elections.
– The European Parliament will only sign off on reforms of the Dublin regulation that change the situation on the ground and allow us to take back control over the failed asylum system. We will not repeat the errors of the past and sign off on a watered-down compromise, which is guaranteed to fail again on first contact with reality. Any new Dublin system must include an automatic relocation system, with the full participation of all member states, as well as fostering true solidarity between all member states”, Mrs Wikström ends.

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Seizing the Moment for Euro Area Reform/Saisissons l’occasion pour réformer la zone euro

Posted by fidest press agency su giovedì, 1 giugno 2017

Area ReformThe election of Emmanuel Macron as French President gave renewed hope to proponents of the European integration project after the blow of Brexit. There is now a momentum that euro area member states could agree on the view that the euro is incomplete and cannot last without major reforms.In this Policy Paper, our president Enrico Letta, Henrik Enderlein, Director of our office in Germany, the Jacques Delors Institut – Berlin and Aart De Geus, President and CEO of the Bertelsmann Stiftung) set out their proposals for a staged but lasting and workable reform at the moment when the Commission publishes its reflexion paper on the deepening on the Economic and Monetary Union. They propose a comprehensive reform strategy based on three building blocks:
– a first aid kit consisting of a reinforced European Stability Mechanism (ESM+), an enhanced Banking Union and better economic policy coordination under improved democratic control;
– a more targeted structural reform agenda combined with a comprehensive investment initiative;
– a major reform of EMU for the long term, involving significant risk- and sovereignty-sharing within a coherent and legitimate framework of supranational economic governance.
These recommendations are based on a longer report that a working group published at the end of 2016. You can find the full report entitled “Repair and Prepare: Growth and the Euro after Brexit”. This publication is part of “Repair and prepare: Strengthen the Euro”, a larger research project of the Bertelsmann Stiftung and the Jacques Delors Institut – Berlin on the future of the euro.
L’élection d’Emmanuel Macron comme Président de la République française redonne de l’espoir aux partisans du projet européen après le Brexit. La dynamique actuelle pourrait permettre aux États membres de la zone euro de s’accorder sur le fait que l’euro est incomplet et ne pourra pas perdurer sans réformes majeures. Dans ce Policy paper, Enrico Letta, président de l’Institut Jacques Delors, Henrik Enderlein, directeur de notre bureau en Allemagne, le Jacques Delors Institut – Berlin, et Aart De Geus, président et directeur de la Bertelsmann Stiftung, plaident pour une réforme progressive mais durable et réaliste de la zone euro, au moment où la Commission publie un document de réflexion sur l’approfondissement de l’Union économique et monétaire.Les auteurs proposent une stratégie de réforme globale fondée sur trois piliers :
– un kit de première urgence consistant en un Mécanisme européen de stabilité renforcé, une Union bancaire enrichie et une meilleure coordination des politiques économiques sous un contrôle démocratique amélioré ;
– un agenda de réformes structurelles plus ciblé comprenant un grand plan d’investissements ;
– une réforme majeure et sur le long terme de l’Union économique et monétaire, impliquant un réel partage des risques et de la souveraineté, au sein d’un cadre cohérent et légitime de gouvernance économique supranationale.Ces recommandations sont basées sur le rapport “Repair and Prepare: Growth and the Euro after Brexit” publié en 2016 par l’Institut Jacques Delors (photo: Area Reform)

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Reform of the EU asylum rules – creating a new Dublin system that works

Posted by fidest press agency su martedì, 7 marzo 2017

european-parliamentOn Thursday, 9 March 2017, Parliament’s lead MEP on the reform of the Dublin system, Swedish liberal Cecilia Wikström, will present her draft report to the Civil Liberties Committee.The draft report is a first response to the Commission’s proposal, presented in May 2016, for reform of the Dublin regulation. This regulation, which determines which member state is responsible for processing an asylum application, constitutes the cornerstone of the EU asylum system, which is currently undergoing a major revamp.
In the report, Ms Wikström proposes ways to remedy the weaknesses of the current EU asylum rules, which became obvious in 2015 when more than one million people fled war, conflicts and persecution and applied for international protection in the EU, resulting in the near-total collapse of the system. To ensure that the new asylum system will work in practice, the rapporteur sets out three key priorities:
· all member states must share responsibility for asylum seekers,
· accelerating procedures: people needing international protection should get it much faster while those who do not have the right to asylum should be returned to their home countries in a swift and dignified manner, and
· all asylum seekers should be registered upon arrival in the EU and member states with EU external borders must protect and maintain them.
The aim is to ensure that member states on the southern borders are no longer left to shoulder a disproportionate share of the EU’s obligations to applicants for international protection. The system should not encourage member states to turn a blind eye or apply “wave-through” policies, and asylum seekers should be certain that their applications will be treated swiftly and fairly in all countries.

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The reform of the Dublin system and crisis relocation

Posted by fidest press agency su mercoledì, 12 ottobre 2016

dublinoOn Monday afternoon, the Civil Liberties Committee will hold a hearing on the reform of the Dublin system which determines which EU member state is responsible for processing an asylum application. MEPs will hear from UNHCR, NGOs, EU agencies involved with migration issues, academics, the EU data protection supervisor and representatives of national authorities. The presentations will focus on key issues related to the reform, such as a fair and automatic distribution of applicants between member states, the admissibility procedure and the concepts of safe country of origin and safe third country, the effectiveness of relocation and avoiding secondary movements, as well as the protection of children’s rights and data protection.The hearing will be divided into three discussion sessions. The first will focus on “Reforming the Dublin System – A critical appraisal” (15.05-16.25). The second on “Effectiveness of relocation and avoiding secondary movements” (16.25-17.35), and the third on “Areas of concern for the reform of the Dublin system”, in particular unaccompanied minors (17.15 – 18.30).

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Teva’s Safe Harbor Statement under the U. S. Private Securities Litigation Reform Act of 1995

Posted by fidest press agency su venerdì, 5 agosto 2016

teva società farmaceuticaImportant factors that could cause or contribute to such differences include risks relating to: our ability to develop and commercialize additional pharmaceutical products; competition for our specialty products, especially Copaxone® (which faces competition from orally-administered alternatives and a generic version); our ability to consummate the acquisition of Allergan plc’s worldwide generic pharmaceuticals business (“Actavis Generics”) and to realize the anticipated benefits of such acquisition (and the timing of realizing such benefits); the fact that following the consummation of the Actavis Generics acquisition, we will be dependent to a much larger extent than previously on our generic pharmaceutical business; potential restrictions on our ability to engage in additional transactions or incur additional indebtedness as a result of the substantial amount of debt we will incur to finance the Actavis Generics acquisition; the fact that for a period of time following the consummation of the Actavis Generics acquisition, we will have significantly less cash on hand than previously, which could adversely affect our ability to grow; the possibility of material fines, penalties and other sanctions and other adverse consequences arising out of our ongoing FCPA investigations and related matters; our ability to achieve expected results from investments in our pipeline of specialty and other products; our ability to identify and successfully bid for suitable acquisition targets or licensing opportunities, or to consummate and integrate acquisitions; the extent to which any manufacturing or quality control problems damage our reputation for quality production and require costly remediation; increased government scrutiny in both the U.S. and Europe of our patent settlement agreements; our exposure to currency fluctuations and restrictions as well as credit risks; the effectiveness of our patents, confidentiality agreements and other measures to protect the intellectual property rights of our specialty medicines; the effects of reforms in healthcare regulation and pharmaceutical pricing, reimbursement and coverage; competition for our generic products, both from other pharmaceutical companies and as a result of increased governmental pricing pressures; governmental investigations into sales and marketing practices, particularly for our specialty pharmaceutical products; adverse effects of political or economic instability, major hostilities or acts of terrorism on our significant worldwide operations; interruptions in our supply chain or problems with internal or third-party information technology systems that adversely affect our complex manufacturing processes; significant disruptions of our information technology systems or breaches of our data security; competition for our specialty pharmaceutical businesses from companies with greater resources and capabilities; the impact of continuing consolidation of our distributors and customers; decreased opportunities to obtain U.S. market exclusivity for significant new generic products; potential liability in the U.S., Europe and other markets for sales of generic products prior to a final resolution of outstanding patent litigation; our potential exposure to product liability claims that are not covered by insurance; any failure to recruit or retain key personnel, or to attract additional executive and managerial talent; any failures to comply with complex Medicare and Medicaid reporting and payment obligations; significant impairment charges relating to intangible assets, goodwill and property, plant and equipment; the effects of increased leverage and our resulting reliance on access to the capital markets; potentially significant increases in tax liabilities; the effect on our overall effective tax rate of the termination or expiration of governmental programs or tax benefits, or of a change in our business; variations in patent laws that may adversely affect our ability to manufacture our products in the most efficient manner; environmental risks; and other factors that are discussed in our Annual Report on Form 20-F for the year ended December 31, 2015 and in our other filings with the U.S. Securities and Exchange Commission (the “SEC”). Forward-looking statements speak only as of the date on which they are made and we assume no obligation to update or revise any forward-looking statements or other information, whether as a result of new information, future events or other wise.

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Data protection reform – Parliament approves new rules fit for the digital era

Posted by fidest press agency su venerdì, 15 aprile 2016

parlamento europeoNew EU data protection rules which aim to give citizens back control of their personal data and create a high, uniform level of data protection across the EU fit for the digital era was given their final approval by MEPs on Thursday. The reform also sets minimum standards on use of data for policing and judicial purposes.Parliament’s vote ends more than four years of work on a complete overhaul of EU data protection rules. The reform will replace the current data protection directive, dating back to 1995 when the internet was still in its infancy, with a general regulation designed to give citizens more control over their own private information in a digitised world of smartphones, social media, internet banking and global transfers.”The general data protection regulation makes a high, uniform level of data protection throughout the EU a reality. This is a great success for the European Parliament and a fierce European ‘yes’ to strong consumer rights and competition in the digital age. Citizens will be able to decide for themselves which personal information they want to share”, said Jan Philipp Albrecht (Greens, DE), who steered the legislation through Parliament.
“The regulation will also create clarity for businesses by establishing a single law across the EU. The new law creates confidence, legal certainty and fairer competition”, he added.The new rules include provisions on:
· a right to be forgotten,
· “clear and affirmative consent” to the processing of private data by the person concerned,
· a right to transfer your data to another service provider,
· the right to know when your data has been hacked,
· ensuring that privacy policies are explained in clear and understandable language, and stronger enforcement and
· fines up to 4% of firms’ total worldwide annual turnover, as a deterrent to breaking the rules.
The data protection package also includes a directive on data transfers for policing and judicial purposes. It will apply to data transfers across borders within the EU as well as, for the first time, setting minimum standards for data processing for policing purposes within each member state.The new rules aim to protect individuals, whether victims, criminals or witnesses, by setting out clear rights and limitations on data transfers for the purpose of prevention, investigation, detection or prosecution of criminal offences or the execution of criminal penalties, including safeguarding against and preventing threats to public security, while at the same time facilitating smoother and more effective cooperation among law enforcement authorities.

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The Economist in edicola oggi

Posted by fidest press agency su venerdì, 21 gennaio 2011

Questa settimana segnalo nella sezione Europe: –  L’editoriale su  Berlusconi: A party Animal – Why the prime minister may yet survive his latest sordid sex scandals   –  L’editoriale sulla Spagna e Zapatero: A great burden for Zapatero to bear – The Spanish prime minister has become reluctant convert reform – but maybe too little, too late  –  L’articolo sulla Francia: Ties across the Mediterranean – A principle of non-interference that is not always applied in practice –  La rubrica Charlemagne sulla crisi dell’euro: The name’s Bond. Eurobond – The European Union finds an unexpected new hero in the financial markets  Mentre nella sezione Leaders:-   Lo special report che si occupa dibattito sull’ineguaglianza e le differenze di reddito: The rich and the rest – What to do (and not do)about inequality. –   L’editoriale sulla valuta cinese: The rise of the redback – China will have to open its financial market if it wants the yuan to rival the dollar –  L’analisi sulla BP e la Russia: How bad is BP? – Russia is an unsavoury place to do business;that does not make BP’s Russian deal wrong
Editor’s highlights  Around the world inequality is once again becoming an issue. China’s president, Britain’s prime minister, America’s second-richest man and the head of the International Monetary Fund have all worried, loudly and publicly, about the dangers of a rising gap between the rich and the rest. A survey of those due to gather in Davos next week named it as one of the two main global problems. This week we have a special report on the new global elite. In our cover leader, we argue much of the recent hand-wringing about widening inequality is based on sloppy thinking. In many cases it is part of a meritocratic process. Rather than attacking inequality itself, politicians should strike at the most pernicious, unfair sorts of income disparity and allow more people to move upwards. That would also boost growthTunisia’s lesson for the Arabs Let the scent of jasmine spread The science of sexual abstinence Restraint can be good for you Could the yuan replace the dollar as the reserve currency? Only if China opens up its markets Black gold and tar sands Alberta’s story Chinese mothers: not that good really Seen from Asia, the tiger mum phenomenon looks rather more complicated.

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Church Reform Processes

Posted by fidest press agency su mercoledì, 24 novembre 2010

“Free for the Future – Protestant Churches in Europe” is the theme for the coming 7th General Assembly of CPCE, the Community of Protestant Churches in Europe, from 20th to 26th September 2012 in Florence. The meeting of the highest decision-making body of the 105 member churches in more than 30 countries will have processes of church reform as its main material theme, decided the Council of CPCE yesterday during its meeting in Vienna. “What varying experiences with the social changes in their home countries can our churches bring in? What are the shared theological and practical contributions of the protestant churches to a changing Europe? The discussions of the General Assembly should issue in a call to the churches on the way to the 500th anniversary of the Reformation in 2017”, said CPCE President Thomas Wipf. For the first time CPCE will conduct an international stewarding programme for twenty students up to 27 years of age. The stewards will be used in the conference office, in the working groups and in publicity as well as in the services and meditations. “The emphasis in the accompanying framework programme lies on training up the next ecumenical generation on the European level”, stressed CPCE General Secretary Michael Bünker: “We wish to motivate young adults for work in CPCE.” CPCE will approach its member churches to delegate suitable stewards. The Council extended the call of Dr. Peter Bukowski as Liturgical Consultant and Dr. Joachim Christoph as Legal Advisor until the coming CPCE General Assembly in September 2012 in Florence. Bukowski is Moderator of the Reformed Alliance in Germany and a member of the Council of CPCE. Christoph is a retired Vice-President of the United Evangelical Lutheran Church in Germany.
Prof. Hans-Peter Grosshans of the University of Münster was called to be a new member of the Expert Group on Ecumenism till the coming General Assembly in 2012. This expert group observes and accompanies the inter-confessional relations of CPCE and is intended to clarify and deepen its theological model. Prof. Parush Parushev of the International Baptist Seminary in Prague was called as a new member of the Expert Group on Ethics until the General Assembly. This body advises CPCE on current issues in politics and society and is meant to extend the presence of the protestant churches on the European level.

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U.S.A.: The way reform

Posted by fidest press agency su sabato, 24 luglio 2010

Letter to editor. When you and I set out on this journey three years ago, we knew that ours would be a lengthy struggle to build a new foundation for this country — one that would require squaring off against the special interests who had spent decades stacking the deck in their favor. Today, it is clear that you have shifted the odds. This morning, I signed into law a bill that represents the most sweeping reforms of Wall Street since the Great Depression, and the toughest consumer financial protections this nation has ever seen. I know that I am able to do so only because the tens of thousands of volunteers who make up the backbone of this movement overcame the most potent attack ads and the most powerful lobbying the special interests could put forward. Our special-interest opponents and their Republican allies have now set their sights on the elections in November as their best chance to overturn the historic progress we’ve made together. Because of Wall Street reform, we will ensure that Americans applying for a credit card, a mortgage, or a student loan will never again be asked to sign their name under pages of confusing fine print. We will crack down on abusive lending practices and make sure that lenders don’t cheat the system — and create a new watchdog to enforce these consumer protections. And we will put an end to taxpayer-funded bailouts, giving us the ability to wind down any large financial institution if it should ever fail. The passage of Wall Street reform is at the forefront of the change we seek, and it will provide a foundation for a stronger and safer economy. It is a foundation built upon the progress of the Recovery Act, which has turned 22 months of job losses into six consecutive months of private-sector job growth. And it is a foundation reinforced by the historic health reform we passed this spring, which is already giving new benefits to more than 100 million Americans, ushering another 1 million Americans into coverage by next year. But today’s victory is not where our fight ends. Organizing for America and I will move forward in the months ahead on the tough fights we have yet to finish — even if cynics say we should wait until after the fall elections. This movement has never catered to the conventional wisdom of Washington. And we have fought to ensure that our progress is never held hostage by our politics. (Barack Obama)

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New address European University Association

Posted by fidest press agency su domenica, 4 luglio 2010

European University Association has this week moved to a new address in Brussels. At the same timethey have also launched a new website (www.eua.be) to make easier and quicker to find information on all EUA activities. An integral part of this website is a new-look e-newsletter which has been redesigned to create a more coherent news structure for all EUA news, and will provide the possibility of including more comprehensive updates from the ‘European institutions’ based in Brussels and higher education developments from outside Europe. The Association is considering the possibility of organizing a series of breakfast briefings in Brussels to provide background information for journalists covering higher education/research on issues at the European level – such as university funding, reform process such as the Bologna process.

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China Vows to Reform Yuan

Posted by fidest press agency su martedì, 25 Mag 2010

West Palm Beach,FL (http://www.myprgenie.com) Chinese President Hu Jintao opened the U.S.- China Strategic and Economic Dialogue by saying that he would strive to reform the yuan. The majority of President Hu’s speech was the usual script on the yuan, but a mention of controlling the exchange rate is new territory coming out of Beijing.  The U.S. responded positively, continuing its recent efforts to keep the dispute over the currency from poisoning the broader relationship between the two countries. “We welcome the fact that China’s leaders have recognized that reform of the exchange rate is an important part of their broader reform agenda,” U.S. Treasury Secretary Timothy Geithner said after Mr. Hu’s speech, as he opened the economic component of the dialogue. But, of course, Chinese officials downplayed their President’s comments, saying that no one discussed the exchange rate in any of the opening sessions. China has essentially tacked the yuan to the dollar because of global financial conditions. Chinese officials have said they will reconsider their currency policy when economic conditions permit. Analysts believe that won’t be until the third quarter of this year.

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U.S.A.: Wall street reform

Posted by fidest press agency su domenica, 23 Mag 2010

Letter to editor “Riccardo on Thursday, the Senate passed historic Wall Street reform. This movement proved again that the strongest special interests, who for so long have called the shots in Washington, can be beat. When opponents in Congress tried to block the legislation altogether, you stood up — and they backed down. When the lobbyists pushed for loopholes and exemptions just before a final vote, you did not relent — and we fought them off. Your support brought us to this day — and, because of that, we’re poised to implement sensible reforms that will provide a stronger foundation for economic growth. Now, the House and Senate must iron out their differences before I can sign it into law. But the financial industry will not give up. They have already spent more than $1 million per member of Congress, lobbying on this issue. And in the coming days, they will go all in. This is their last shot to stall, weaken, or kill reform, and they are not accustomed to losing. But this movement has you — and together, we have beaten the special interests before. Every American has a stake in this bill. If you have ever been treated unfairly by a credit card company, this reform works for you — never again will Americans be duped by fine print or hidden fees. If you ever try to take out a home loan or student loan, this reform works for you — putting an end to predatory and deceptive lending practices. And, if you or your small business relies on credit from community banks that are being punished for playing by the rules while their competitors do not, this reform works for you — reining in the big banks and making sure all our lenders are subject to tough oversight. These reforms would put in place the strongest consumer financial protections in history. And, by helping safeguard our economy from recklessness on Wall Street, it would ensure that a crisis like the one that caused this recession never happens again. This is not a zero-sum game where Wall Street loses and Main Street wins. As we have learned, in today’s economy, we are all connected. When the economy prospers, we all win. Senators of both parties recognize that fact, and that is why lawmakers stood up to the lobbyists and worked across the aisle to ensure that Wall Street reform passed. But this fight is not yet over. And it is up to us to overcome this final test and pass reform into law. When we do, the power of this movement to make change in Washington — despite the best efforts of the special interests — will no longer be up for debate.(President Barack Obama)

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Wall Street Reform Day

Posted by fidest press agency su martedì, 11 Mag 2010

From folks advocating reform on Wall Street in Manhattan, to those calling their neighbors in Ohio, to senators’ offices getting calls from across the country, thousands of OFA supporters in every state spoke out with one voice to demand change. In Greenville, South Carolina, the headline yesterday was about the 50 OFA supporters who attended a “rally to demand Wall Street reforms.” And the Indiana News Center led with “Local Hoosiers ‘Call’ For Wall Street Reform.” Even better? The stories we got from participants. Trisha, in Columbus, Wisconsin, called an elderly neighbor. As she tells it, “I asked him if he’d ever contacted a member of Congress. He said ‘no’ he hadn’t. Then after a short pause he said, ‘Well, just what was that number? I guess there’s a first time for everything. I’ll make that call!'” After meeting in front of the library in Branigan, New Mexico, Evelyn — an OFA Neighborhood Team Leader — said that she and other volunteers “talked to people passing by about the importance of standing up to the power brokers and the lobbyists and the big banks. What I love the most is when you really get to have a conversation and inform someone about what’s really going on — they are so appreciative of getting straight-forward information.” And at an event on Wall Street itself, a volunteer named Erin said that “I am here today to stand up for the everyday people who work and raise families and don’t want to have their lives disrupted as a result of Wall Street’s reckless practices.” Everything you did this week made a difference. That’s why Wall Street reform legislation is picking up steam — there could even be final votes as early as next week. We’ll be in touch soon with more ways you can help push reform through the final stretch. (Jeremy Jeremy Bird Deputy Director Organizing for America)

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U.S.A.: Wall Street reform bill

Posted by fidest press agency su giovedì, 29 aprile 2010

Both parties have worked for months crafting a bipartisan Wall Street reform bill. But, just hours ago, Senate Republicans — including Senator Chuck Grassley — voted for a second time to protect their allies on Wall Street and block reform. Maybe they think obstruction is a good political strategy in an election year. Maybe they’re hoping the delay will give bank lobbyists time to water down reform with loopholes and exemptions. But here’s what we know for sure: These Republicans have a lot to explain to the American people. A recent ABC News poll showed that 65 percent support the reforms they just opposed.Sen. Grassley still has time to cross the aisle and stand with Main Street — but to make it happen, Iowa’s voters need to speak out now. With American families struggling in the wake of a crippling financial crisis, they want to know that Washington is doing something to protect consumers from exploitation at the hands of the big banks that got us into this mess. The Senate bill that Republicans are blocking will provide the strongest consumer financial protections in history, while ensuring that American taxpayers are never again forced to bail out a Wall Street firm “too big to fail.” Sadly, instead of working to debate and revise the bill, Republicans in the Senate are teaming up with the big banks. In fact, press reports confirm that Republican leaders have been meeting privately all month with Wall Street executives, plotting to weaken the bill. With their votes, it appears they’re intent on carrying out that plan.But President Obama has made it clear that any reform bill that doesn’t go far enough to rein in the big banks is not acceptable. He’s counting on us to speak up.

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Not backing down

Posted by fidest press agency su lunedì, 26 aprile 2010

Washington. (Usa) Last week, Republican Senate Minority Leader Mitch McConnell got all 41 GOP senators to promise to oppose Wall Street reform. He thought President Obama would back down in the face of a unified show of force. He was wrong. Instead, the President stood in front of Wall Street bankers Thursday, going to bat for consumers and confronting the toughest of crowds with a strong message: Reform is good for Americans, good for the market, and it’s time to get on board. Bipartisan discussions have begun again — but Wall Street lobbyists are still swarming Capitol Hill, trying to trip up negotiations and maintain the gridlock that has defined Washington for far too long. So now, it’s up to us. We need to show Republican senators that the American people are watching closely to see whose side they end up on. The President laid out a bold plan to hold Wall Street accountable, to protect American taxpayers by ensuring they’ll never again be asked to bail out a big firm “too big to fail,” and to put in place the strongest consumer financial protections ever proposed. But this fight isn’t just about fixing Wall Street. It’s also about fixing Washington. For too long, it’s been a place where special interests have set the rules and petty partisanship has stood in the way of progress. As the President said Thursday, “We can and must put this kind of cynical politics aside.” Thanks to strong leadership from the President and Democrats in Congress, the gridlock is starting to crack, and Republicans are slowly giving signs that they’ll come on board. The Senate has even scheduled a preliminary vote for Monday at 5:15 p.m. But Wall Street lobbyists are flooding in to firm up opposition — trying to carve out loopholes and exemptions for big banks and lenders who have long exploited consumers. (Mitch Stewart Director Organizing for America)

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Wall street reform

Posted by fidest press agency su domenica, 18 aprile 2010

It has now been well over a year since the near collapse of our entire financial system that cost the nation more than 8 million jobs. To this day, hard-working families struggle to make ends meet. We’ve made strides — businesses are starting to hire, Americans are finding jobs, and neighbors who had given up looking are returning to the job market with new hope. But the flaws in our financial system that led to this crisis remain unresolved. Wall Street titans still recklessly speculate with borrowed money. Big banks and credit card companies stack the deck to earn millions while far too many middle-class families, who have done everything right, can barely pay their bills or save for a better future. It is time to hold the big banks accountable to the people they serve, establish the strongest consumer protections in our nation’s history — and ensure that taxpayers will never again be forced to bail out big banks because they are “too big to fail.” We know that without enforceable, commonsense rules to check abuse and protect families, markets are not truly free. Wall Street reform will foster a strong and vibrant financial sector so that businesses can get loans; families can afford mortgages; entrepreneurs can find the capital to start a new company, sell a new product, or offer a new service. Consumer financial protections are currently spread across seven different government agencies. Wall Street reform will create one single Consumer Financial Protection Agency — tasked with preventing predatory practices and making sure you get the clear information, not fine print, needed to avoid ballooning mortgage payments or credit card rate hikes. Reform will provide crucial new oversight, give shareholders a say on salaries and bonuses, and create new tools to break up failing financial firms so that taxpayers aren’t forced into another unfair bailout. And reform will keep our economy secure by ensuring that no single firm can bring down the whole financial system. With so much at stake, it is not surprising that allies of the big banks and Wall Street lenders have already launched a multi-million-dollar ad campaign to fight these changes. Arm-twisting lobbyists are already storming Capitol Hill, seeking to undermine the strong bipartisan foundation of reform with loopholes and exemptions for the most egregious abusers of consumers.I won’t accept anything short of the full protection that our citizens deserve and our economy needs. It’s a fight worth having, and it is a fight we can win — if we stand up and speak out together. (President Barack Obama)

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Cohesion reform debate

Posted by fidest press agency su martedì, 13 aprile 2010

The Committee of the Regions (CoR) is setting out its stall ahead of the debate on the future of EU cohesion policy: at their plenary session on 14-15 April, Europe’s regional and local representatives will adopt a report on the issue prepared by Michael Schneider (DE/EPP). The following week, an external COTER seminar in Jaén, Spain, will provide an opportunity to flesh out these requests. As EU politicians are discussing their strategic framework for the next decade (“Europe 2020”), the debate on the future of cohesion policy is expected to enter its crucial phase later this year with the publication of the European Commission’s 5th cohesion report. First drafts of the new structural funds regulations could then be presented in mid-2011.  To make sure that the voice of Europe’s regions and cities is heard at the very beginning of this discussion, the Committee of the Regions is preparing an outlook opinion on the future of EU cohesion policy after 2013. Over the past few months, Michael Schneider (DE/EPP), European Affairs State Secretary of the Land of Saxony-Anhalt and CoR rapporteur on the issue, has consulted widely with other CoR members, local and regional authorities from across Europe, their associations and other stakeholders. Schneider will present his draft opinion at the CoR plenary session on 14/15 April, in the presence of Johannes Hahn, European Commissioner for Regional Policy. By adopting this opinion, the Committee of the Regions will become the first EU body to formulate an official position on the future of cohesion policy.  In an interview, Michael Schneider makes the case for a strong cohesion policy at European level  in the future: “Given its target of the harmonious development of the European Union as a whole, economic, social and territorial cohesion forms a core element of the European integration model that was further strengthened by the Lisbon Treaty.”

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