Economia Mundial
World Economics
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THE POPE, THE PRESIDENT & THE NEW WORLD ORDER ECONOMY
Also remember that Pope Benedict XVI published his economic encyclical which was given to President Barack Obama during his visit to the Vatican in July of 2009.
The New York Times wrote an article titled: “Pope Urges Forming New World Economic Order.” To read that article, click here.
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Economia Mundial ________________________________________________________________________ EU scrambles to fix grand euro bargain12/11/2011 European Union leaders scramble Thursday to find a last-minute deal to save the euro at a crucial summit for a debt-laden currency union threatened with break-up. With the entire 27-state EU placed under downgrade watch by international credit rating giant Standard & Poor's, the EU leaders are trying to navigate obstacles to treaty changes required to enforce adherence to national budgetary discipline targets. Speaking to France's Canal Plus television hours ahead of the summit , France's minister for European affairs, Jean Leonetti, warned the single currency could break up and Europe itself unravel. "The situation is serious," in the European Union, "the euro can explode and Europe unravel," Leonetti said. The biggest obstacles according to high-ranking officials and diplomats are Germany's refusal to embark on anything short of treaty change agreed under the full glare of lengthy, costly and risky public consultation, but that its government considers legally-secure. That and a British refusal to back changes Berlin wants all EU states to agree to, unless it secures important quid pro quos such as ring-fencing the all-important City of London financial services sector from future EU regulation including a proposed tax. The situation is veering from serious towards desperate, 24 hours from a self-imposed EU deadline to save the bloc from imploding -- so much so that US President Barack Obama held urgent telephone talks late Wednesday with German Chancellor Angela Merkel. Already, Obama had despatched his treasury secretary Timothy Geithner to Europe for talks with key players that will continue on Thursday in Marseille, France, where EU conservative allies are meeting for pre-summit negotiating strategy talks. Merkel, along with French President Nicolas Sarkozy and European Central Bank chief Mario Draghi, plus three other senior eurozone figures, will stage their own negotiating huddle ahead of the Brussels summit starting at 7:30 pm (1830 GMT). They hope to conclude a grand bargain that can take intense pressure off those countries most at risk of needing bailed out -- Italy and Spain. As the EU begins two days of scheduled talks, the race is on to deliver cash and policy fixes. They must find what another high-ranking EU official called "something solid, safe, sound and stable" and a solution with enough "substance, speed and certainty" to impress investors. As bookmakers reported fast-shortening odds on the eurozone not surviving next year, a highly-placed figure speaking on condition of anonymity highlighted the fact that credit ratings for Italy and Spain are at the level of strife-torn Egypt. France and Germany have called for changes to the EU treaty to fix flaws in the design of a monetary union created in 1999 but which is struggling to evolve into fiscal, economic and full political union. But as Geithner demanded Europe construct "a sufficient strong firewall" to prevent the kind of collapse suffered by Greece spreading along the Mediterranean's northern shores, non-euro Britain sensed an opportunity. "The more that countries in the eurozone ask for, the more we will ask for in return," British Prime Minister David Cameron told lawmakers in London. Leaders will try to agree new rules for the 17 nations that currently share the euro, to get sovereign states to enact EU guidelines that say annual deficits should not be more than 3.0 percent of gross domestic product (GDP), and cumulative debts not more than 60 percent of GDP. Earlier attempts to tighten eurozone economic governance fell down in the absence of automatic penalties or where voting rules allow political friends to club together and evade punishment. At the same time, leaders must try to boost the firefighting capacity of the bailout fund, the European Financial Stability Facility (EFSF). Launched with 440 billion euros ($590 billion), its lending capacity is down to 250 billion euros after existing bailouts, with officials warning of fatigue among investors. The new head of the ECB, Italy's Mario Draghi, wants to see a "fiscal compact," a contract between euro states short of a full union of tax and spending, before signalling any move towards operating as a US-style government lender of last resort. There is intense political pressure on the "independent" ECB to use its ability to create money to buy more bonds and so sharply lower eurozone borrowing costs. © Copyright AFP Agence France-Presse GmbH - All rights reserved. This material may not be published, broadcast, rewritten or distributed. All reproduction or redistribution is expressly forbidden without the prior written agreement of AFP. | Imagenes _____________________________________________________________   |
Las existencias mundiales de sumergirse y hay nuevas preocupaciones en Grecia
11/02/2011 La posibilidad de que los electores griegos rechace el último plan de rescate de la UE envió los mercados globales se hunde de nuevo el martes, mientras los líderes más poderosos de Europa se dirigió a la mesa de la cumbre.
Propuesta del Primer Ministro George Papandreou para poner el plan de barrido - acordó el jueves pasado - a los votantes griegos, planteó la posibilidad de que todo se puede deshacer y Grecia podría volver a estar en el camino a un valor predeterminado.
Esto plantea nuevos temores sobre Italia - posiblemente la próxima ficha de dominó en cualquier crisis la zona euro - con el rendimiento de sus bonos a 10 años golpear a un 6,2 por ciento, cerca del récord alcanzado en agosto.
Escalofríos difusión a través de los mercados, sólo días después de que las poblaciones de todo el mundo se disparó hacia arriba en la creencia de que la crisis de la eurozona fue finalmente bajo control.
Francia y Alemania llamada de emergencia conversaciones con la UE en medio del enojo creciente por la resistencia aparente de Grecia a la entidad crediticia impuesta por la disciplina.
En los Estados Unidos, hundiendo las acciones bancarias bajó la amplia base de S & P índice de 500 acciones por un 2,8 por ciento.
El Dow Jones Industrial Average cayó un 2,5 por ciento, mientras que el Nasdaq Composite cayó un 2,9 por ciento.
En Londres, el punto de referencia FTSE-100 índice de las principales compañías perdieron un 2,2 por ciento, mientras que París el CAC-40 cayó un 5,4 por ciento y el DAX de Francfort perdía un 5,0 por ciento.
Milan cayó un 6,8 por ciento y Madrid cayó un 4,2 por ciento, mientras que Atenas, el epicentro de la última crisis, cayó un 6,8 por ciento.
El euro también cayó otro 1,5 centavos y se ubicó justo por debajo de 1,37 dólares, tras encabezar 1,42 dólares el jueves pasado en la confianza de revivir, después de los líderes de la UE llegar a un plan integral para estabilizar la zona euro.
Trading martes fue marcado por puntos de vista contradictorios sobre el posible resultado de los movimientos de Papandreou, noticias de su ser invitados a las conversaciones de los líderes del G-20 en Cannes esta semana, y de su reorganización en huelga al final del día de la cúpula militar griego.
"Las ruedas parece que van a caer los esfuerzos de rescate europeo como llamar al primer ministro griego para un referéndum enviado el mercado en un giro de cola", dijo el comerciante de ETX Capital Manoj Ladwa en Londres.
"No está claro qué sucede si el pueblo griego votar en contra de las reformas necesarias para la actual ronda de fondos de rescate del Fondo Monetario Internacional y el Banco Central Europeo", dijo Fred Dickson de DA Davidson & Co.
A los comerciantes IG Index en Londres, jefe estratega de mercado de David Jones dijo que la decisión del referéndum "un shock para los inversores que pensaban que finalmente estábamos llegando al final" de la crisis de la deuda de la región.
"Se plantea la posibilidad de que la crisis arrastra aún más, continuando con la incertidumbre de los mercados de valores. No es sorprendente que algunas de las mayores desgracias ... son los bancos".
El comercio se vio turbada también por los nuevos datos de China: el índice de gerentes de compra oficial chino (PMI) cayó a 50,4 en octubre desde 51,2 en septiembre.
"Algunos expertos propusieron que los datos podrían servir como prueba para las autoridades de China que son necesarias medidas para dinamizar la economía del país", dijeron analistas Briefing.com.
En el comercio asiático primeras horas de hoy, Tokio cayó 1,70 por ciento, Hong Kong cayó 2,49 por ciento y Sidney perdió 1,52 por ciento.
© Copyright AFP Agence France-Presse GmbH - Todos los derechos reservados. Este material no puede ser publicado, transferido, reproducido o distribuido. Toda reproducción o redistribución está expresamente prohibida sin el consentimiento previo por escrito de AFP.Las existencias mundiales de sumergirse en las nuevas preocupaciones griego
11/02/2011 La posibilidad de que los electores griegos rechace el último plan de rescate de la UE envió los mercados globales se hunde de nuevo el martes, mientras los líderes más poderosos de Europa se dirigió a la mesa de la cumbre.
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Inglish Version:
World stocks plunge on new Greek worries
11/02/2011 The possibility that Greek voters will reject the latest EU bailout plan sent global markets sinking again on Tuesday as Europe's most powerful leaders headed back to the summit table.
Prime Minister George Papandreou's proposal to put the sweeping plan -- agreed just last Thursday -- to Greek voters, raised the spectre that it could all be undone and Greece could again be on the path to a default.
That raised new fears about Italy -- potentially the next domino in any eurozone meltdown -- with the yield on its 10-year bonds hitting 6.2 percent, close to the record reached in August.
Chills spread through the markets, only days after stocks around the world rocketed upwards on the belief that the eurozone crisis was finally under control.
France and Germany called emergency EU talks amid growing anger over Greece's seeming resistance to lender-imposed discipline.
In the United States, plunging bank shares pulled down the broad-based S&P 500-stock index by 2.8 percent.
The blue-chip Dow Jones Industrial Average dropped 2.5 percent, while the tech-heavy Nasdaq Composite slid 2.9 percent.
In London, the benchmark FTSE-100 index of top companies lost 2.2 percent, while Paris's CAC-40 slumped 5.4 percent and Frankfurt's DAX was down 5.0 percent.
Milan tumbled 6.8 percent and Madrid fell 4.2 percent while Athens, the epicentre of the latest crisis, dropped 6.8 percent.
The euro also fell another 1.5 cents to settle just below $1.37, after topping $1.42 last Thursday on revived confidence, following the EU leaders' reaching a comprehensive plan to stabilize the eurozone.
Trading Tuesday was marked by conflicting views on the potential outcome of Papandreou's moves, news of his being invited to G20 leaders' talks in Cannes this week, and of his striking reshuffle late in the day of the Greek military leadership.
"The wheels look set to fall off the European bailout effort as the Greek prime minister's call for a referendum sent the market into a tail spin," said ETX Capital trader Manoj Ladwa in London.
"It is unclear what happens if the Greek people vote down the reforms required for the current round of bailout funds from the International Monetary Fund and the European Central Bank," said Fred Dickson at DA Davidson & Co.
At traders IG Index in London, chief market strategist David Jones called the referendum decision "a shock to investors who thought that we were finally nearing the end" of the region's debt crisis.
"It raises the prospect of the crisis dragging on further still, continuing the uncertainty for stock markets. Not surprisingly, some of the biggest casualties ... are the banks."
Trading was also clouded by new data from China: the official Chinese purchasing managers' index (PMI) dropped to 50.4 in October from 51.2 in September.
"Some pundits proposed that the data could serve as proof to China's policymakers that measures are needed to energize the country's economy," Briefing.com analysts said.
In Asian trade earlier Tuesday, Tokyo fell 1.70 percent, Hong Kong dropped 2.49 percent lower and Sydney lost 1.52 percent.
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