Tag: last-minute

Vice President

He said the spending rule shall include flexibility when there is a recession, a natural disaster or a catastrophe requiring stimulus measures. There is no time to create a new tax that serious these rents. The economic Vice, Elena Salgado, has said that with the reform of the Constitution will be set a maximum for all public administrations structural deficit close to zero for a normal situation, which expected to be reach from 2018. In a normal situation the deficit should be zero or very close to zero. Cloud computing takes a slightly different approach. That normal situation do it want to put in the Constitution from the year 2018-2020?, explained in statements to RNE. Salgado has insisted that in normal situation and long term the public deficit should be very limited, but unless you remove the possibility that can adopt policies of fiscal stimulus when the circumstances require it. The rule of expenditure shall include the flexibility when there is a recession, a natural disaster or a catastrophe that requires stimulus measures, although that lead to a given year have one greater deficit, has said. The Vice President has tinged that the current deficit, which will be trimmed to 6% of GDP in 2011, does not correspond to a situation of normality, and therefore is not a structural deficit, but it derives from an economic context adverse forced to adopt fiscal stimulus and has raised the amount of benefits for unemployment.

On the other hand, speaking to cadena SER, Salgado has left the door open to that on Friday the Government approve an increase in taxation to large fortunes, given that said that you there is no time to create a new tax that serious these rents. For a new tax on large fortunes no time. To increase the pressure on large fortunes, allow me hopefully to Friday, he said. Regard to whether large fortunes in the country have been sent a letter to the Ministry of economy and finance asking for a tax increase, as it has happened in France or in the United States, the Minister said had not received anything in writing. Source of the news: Elena Salgado says the Constitution will set a deficit close to zero limit

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European Recession

After opening in negative, the selective Frankfurt had achieved some gains in the early stages of negotiation but losses were imposed again in less than an hour for 10th consecutive day. The fall intensified in shortly on the Frankfurt Stock Exchange, where the 30 companies that make up the DAX 30 lost around 25% of its value in these ten negotiations, a quarter. All values in the DAX 30, which brings together the largest German companies, fell with force. Asian markets fell but in a more moderate manner: the have Seng in Hong Kong closed 5.66% drop, the Nikkei in Tokyo closed with a decline of 1.68% and the general index of the Shanghai Stock Exchange is not infected falls in other Asian markets and concluded in tables (- 0.03%). The cause: panic to the recession the Spanish market recorded a first hour of negotiating very positive, with a bullish opening on nearly a half point and subsequent increases of nearly 2%, since investors bought enthusiastically encouraged by low prices resulting from the K2 that has stuck the Spanish stock market in recent days. However, the joy lasted little and barely an hour after opening, the main Spanish indicator changed sign and surrendered to the new wave of panic that crosses the markets by the possibility that EE UU come again into recession once the Agency S & P downgraded him his debt to AA rating +. For the director of Atlas Capital, Felix Lopez, fear of investors is noticeable especially in that in recent days not only is suffering the quotation of the financial sector but are falling industrial values such as the automobile, and when that happens the explanation is simple: the recession panic. For this expert, in these moments should be calm and return to the fundamentals of the companies, many of which are at really attractive prices which had launched on the market many investors in other circumstances.

Black Monday the IBEX 35 lost the last day the 2.44%, affected by the fall on Wall Street, as a reaction to the lowering of the credit rating of EE UU, which annulled the beneficial cto caused by the decision of the European Central Bank (ECB) of buy Spanish and Italian debt. Further meetings on the agenda of Tuesday highlighted the meeting of the Federal Reserve of United States at a critical moment for the country, after the impressive reduction of its debt by Standard & Poor s rating, which triggered panic on international markets about the possibility of a new recession at the first world economy. In addition, Washington will be published the second quarter productivity and labor cost data and European investors will know Germany’s June trade balance and the balance of trade and industrial production in the United Kingdom, also in June. Source of the news: fear is installed again on European stock markets and the FTSE recorded heavy losses

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