The Germans want to bankrupt Cyprus

The overwhelming 86% of executives German firms are allowed to go bankrupt, Cyprus, according to a survey conducted by the consulting firm Roland Berger on behalf of the newspaper Die Welt.
As is clear from the survey that 64% of these strains argues that Europeans should not allow them to pressure from Cyprus, while 22% of respondents believes that Cyprus is not a systemic risk to the stability of the eurozone.

Only 10% expressed fear that the possible bankruptcy of the country is a major threat to the common currency against the alternative of bankruptcy Cyprus supports only 3% of the 220 respondents, arguing that the population of the island is not responsible for the mismanagement and therefore , deserves the solidarity of its partners

Bank of America Merrill Lynch

Bank of America Merrill Lynch: How will Europe pay any expense of the euro by Cyprus
Without rescue deal, Cyprus will face an uncontrolled bankruptcy and exit from the euro, warns Bank of America Merrill Lynch today in a report, and stresses that the impact of this will be much worse than those who believe many in Europe .

According to estimates by the firm, the output of Cyprus by the euro will cause an uncertainty shock, although not as strong as that of Lehman Brothers, as now, the economic cycle and leverage in the financial system are at best level.

However, any return to Cyprus pound is expected to "remove" 1 to 2.5 percentage points of GDP for the eurozone in 2013. Given that the firm expects anyway economic contraction of 0.5% this year, estimates that the output of Cyprus from the Eurozone would lead to decline to 3%.



Source: Bank of America Merrill Lynch: How will Europe pay any expense of the euro by Cyprus |

Krugman: Cypriot officials need to hire bodyguards for their families!

Nobel laureate economist Paul Krugman, finds that large depositors will lose about 40% of their money in cyprus ..

"What exactly can the Russians do this? Can sell the euro? Can tear the agreements taxation? Assassinate Cypriot bankers? The Medvedev and his team could not have played worse in this crisis. And it is not exactly clear why they do it. "

"However, if I was a Cypriot official, will be looking for a little more security for my family," concludes Krugman, apparently believing that the Russian mafia will not let pass this turn Cyprus into Europe so simple ..

All eyes turned to the markets Berlusconi evolving largely unknown factor

All these have resulted in strong pressure on European exchanges.

At the same time, outgoing technocrat Prime Minister Mario Monti, clouding the water, which is likely to become a regulator of political developments in Italy. The Monti expressed his appreciation for the center-left leader Pier Luigi Bersani, to explain then why it could not work with him after the elections.

Referring to abilities Bersani, the Monti said that the head of the Italian center-left could govern well, it has not been tested and will have to see if it has the capacity to assume the office of Prime Minister. And although it believes the Bersani, the outgoing prime minister said that doubts the-center-left coalition led by Bersani-can govern Italy with more equitable and dynamic way.

At the same time, the former prime minister and leader of the center-right Berlusconi sparked a testy reaction of his political opponents because of the letter sent to millions of Italians promising that if electoral victory, will return home ownership tax imposed by the government last Monty time.

Favor of Berlusconi expected to take and yesterday's resignation of Oscar Tzianino the small conservative party leadership (in the 1 to 2% in the polls place) sought primarily to fight corruption, who admitted that he lied about his academic parchments.

At the same time, the comedian Bepe grill, head of the Movement for Five Star, which polls have him in third place with a rate of about 20%, managed to gather in the evening of last Tuesday, 35,000 people in the election gathering in Milan.

Commenting on Berlusconi, Monti said that Berlusconi has given many promises allegedly complied, but the Italians know that this is not true.

On his part, the Bersani called the scam letter, while lefty Antonio Ingkroia former judge, head of the Movement Revolution Citizens dieminyse to sue Berlusconi in Rome prosecution for illegal electioneering. This tax measure was the owner of the most unpopular government Monti, but according to the principles February poll, 51% of Italians do not believe that Berlusconi would honor his commitment.

From the side, the grill seems Bepe moves crowds. "Politicians, indulge, have you surrounded. We will not use violence, only love, "said Grill Addressing 35,000 people last Tuesday. He who refuses to appear in television networks, has named his tour of the town squares of Italy 'Tsunami Tours. " "Show us confidence and within two years would change the country ', says Grill, for which the Monti commented that merely expresses the rage of Italians without making specific policy recommendations.

Morgan Stanley: The risks of Italian elections

Risks of Italian elections gave, told Bloomberg, Daniel Antonoutsi, chief economist at Morgan Stanley. It said 25% of Italians are undecided just two days before the election. Big risk considers the strength of his party Bepe Grill "Movement of 5 Stars" and expressed his doubts about whether Berlusconi can proceed to form a government of cooperation will be able to support the reform program.

He also added that in Italy beyond fiscal management structural changes do not go for it and there was a drop in industrial production.

Guardian: The Virtues and curses of Italy ...

At the same time, the virtues and the ... curses of Italy are two interesting articles in the British Guardian and its correspondent in Rome, Lizzy Davis.

According to the first article, the six reasons to "hate" anyone Italy is mired economy, organized crime, political apathy, the ... misogyny and youth unemployment. As reported, the man chosen to rule the country should carry out a surprisingly long list of things.

The country is currently experiencing the longest recession in 20 years, the economy shrinking for six consecutive quarters, the growth is almost nonexistent in the last decade. Unemployment is over 11%, but when it comes to young people, over 36%, and has the second highest percentage of debt to GDP in the EU

In contrast, the new Guardian article presents six reasons to love Italy as a unique country:

The food: the pasta, pizza, cheese and salami.

The behavior in children: the Italians not just tolerate but love.

The economy: General may be in dire straits, but not for luxury brands. The Ferrari and Prada announced very good results this week.

Sports: Is the second most successful football team in the history of the World Cup. Italy, noted, continues to produce players, managers and frontline.

Railways: Connects almost all major cities, the trains are fast and cheap tickets

And finally, culture: Italy has the largest number of protected heritage site of of Unesco (47 to be exact) and is also the birthplace of the Roman Empire.

G20: «No" in monetary wars but not a word about Japan

We all agreed on the fact that we refuse to enter into any currency war," said French Finance Minister Pierre Moscovici. Even if Japan was spared a public reprimand for its own tactics in an attempt to throw the yen.

This people take the decision for more austerity !!!! How close is the european collapse??

 Again disappointment for the european leaders they choose austerity budget without to think millions of european citizens who becomes poorest and they set target europe to become more and more poor. Maybe their target is european citizens to move to africa for better life...European leaders its again so stupid.....The results will be soon the european currency in a free fall.....and the european collapse????

The EU budget was "the best of what could be done," says Barroso - Rompuy

After marathon negotiations 25 hours that seemed "endless", leaders of the 27 member countries of the European Union agreed to finalize the EU budget for the seven years 2014-2020 to 908.4 billion euros.

The EU budget was "the best of what could be done to promote development" he said at a press conference immediately after the summit, the European Commission president Jose Manuel Barroso and European Council President Herman Van Rompuy and expressed their conviction that the European Parliament will vote for the budget.

However, questions whether the agreement reached among the 27 will be adopted by the European parliament arise after the statement issued by the four major parties in the European parliament-the European People's Party, the Social Democrats, Liberals and Greens-whose approval budget is essential as it will highlight why the vote against him as "unacceptable."

As state "is a budget austerity and promises not no growth."

George Soros: The euro will break up the EU after permanent recession will revolutionize

"I worry very much that the euro may destroy the EU There is a real danger that the solution to the economic problem creating a deep political problem." They said megaloependytis famous George Soros on Dutch TV show.

Asked what is the right solution for the eurozone, the Soros said that "Germany must realize that the policy which required the Eurozone-austerity programs-is counterproductive. It can really be achieved. "

Although Germany's moods are good, however, the programs push the South into a prolonged and deep recession that may last more than one decade. "In fact, it can become permanent until the pain becomes so large, that will cause a revolution, a rejection of the EU, and this will be the destruction of the EU", warns Soros.

It emphasizes that this is an extremely high price to maintain the euro.

When asked whether the euro will survive, he replied: "It can take a very long time, as happened with the Soviet Union, which was a very bad arrangement, but lasted 70 years. But I think ultimately, is to dissolve the Union. The longer and can take generations, generations will lose out in terms of political freedom and economic prosperity. "