Italy’s head of the country’s market regulator Giuseppe Vegas said Monday it’s necessary to favor the use of European Union regulations, rather than directives, as a legislative tool for financial regulation.
05/7/2012
— Filed under: Finance
Tags: founds, Italy, markets
Read more: john deere
The European Union cannot amend agreed rules on tighter fiscal discipline despite voters’ rejection of austerity policies in several countries, and France’s new leader must understand this, Germany’s finance minister said on Monday.
05/6/2012
— Filed under: Finance
Tags: fiscal rules, Germany
Read more: odnoklassniki.ru
FTSEurofirst 300 down 0,4 pct, Euro STOXX 50 down 0,7 pct
* Euro zone manufacturing report fuels economic, fiscal concerns
* U.S. data casts shadow on recovery hopes
European shares fell on Wednesday after a weak euro zone manufacturing report heightened concerns about the region’s economic crisis and U.S. data dampened optimism that the world’s largest economy could drive growth on both sides of the Atlantic.
05/4/2012
— Filed under: Finance
Tags: crisis, euro zone
Read more: walther 1250 dominator ft
European Union countries may gain the power to impose 5 percent additional capital requirements on their banks’ domestic and non-EU exposures as long as they notify the bloc’s authorities.
The European Union’s statistics agency released new figures on household savings this week which underline just how much of an impact the debt crisis is having on ordinary citizens.
Labour costs in Germany have grown at the slowest pace of any EU country in the past ten years, the German Federal Statistics Office said on Tuesday, underlining the wage restraint that has helped Europe’s largest economy outpace its peers.
04/27/2012
— Filed under: Finance
Tags: Germany, labour costs
The taxpayer-funded European Investment Bank has started including a new legal clause in its contracts with Greek companies that allows them to repay euro loans in a different currency.
04/21/2012
— Filed under: Finance
Tags: currency, firms, Greece
European Commission head promises $65 million over two years for technical assistance, saying EU nations will seek larger funds to support investments in sustainable energy
04/16/2012
— Filed under: Finance
Tags: energy, EU, extra funds
Ireland is likely to breach its annual obligation to reduce greenhouse gas emissions from 2017 onwards despite the fall-off in emissions associated with the economic downturn.
04/15/2012
— Filed under: Finance
Tags: emissions, greenhouse gas
BRITISH firms who export goods to Europe are being bogged down by a «crazy» code system imposed by EU bean-counters.
They are forced by a barmy law to fill in a complex form detailing every item sold in mind-numbing detail.
Each product has its own code and staff must spend hours thumbing through a 912-page, 2in-thick manual to find the right one.
The hefty book, called the Intrastat Classification Nomen-clature categorises everything from livestock, chemicals and cosmetics to umbrellas, swords and wigs.
It’s so detailed that there are even special codes for different types of «wigs, false beards, eyebrows and eyelashes». Another section in the book catalogues «cutlasses, bayonets, lances and similar arms».
Silkworm cocoons, Christmas trees and even «live whales» also have their own codes. Minute detail must be given on every product — Brazil nuts have one code for «shelled» and another for nuts still in their shells.
Intrastat Classification Nomenclature
Hefty … 912-page manual classifies everything from livestock to umbrellas
Meat must be carefully listed as either with bone or boneless, half wing, quarter wing, rump, neck or back, fresh, chilled or frozen… and the rules go on.
Even pet food must be ranked by how much starch, glucose and syrup is included.
Any firm exporting goods worth more than £250,000 a year to another EU country must fill in a long form, as must importers who buy goods worth more than £600,000 — meaning double the paperwork in many cases.
It’s not only cash-strapped firms paying a high price for the bonkers exercise.
Sword
Slice … a whole section of the manual exists for weapons
Once the forms are completed and collected, taxpayers pick up the bill for officials in Brussels to sift through the information and file it. Business bosses say time wasted completing the paperwork could be halved if they could give fewer details — for instance, providing just the weight or quantities of goods.
They also believe there is no need for the importer and exporter to provide the same information.
The regulation is just part of the huge welter of paperwork spewing out of Brussels and hampering business.
The Sun is campaigning to tear up the crazy red tape strangling British firms which adds £80BILLION to their running costs every year.
PM David Cameron came to power on a promise to ease the burden — but bosses say they are being weighed down even more.
Simon Walker, director general of the Institute of Directors, said: «This is a classic example of regulation getting totally out of hand.
«We need to increase our exports to create more jobs and having to dig through the pages of absurd red tape gets in the way of that.»
Clippy McKenna and Lisa Howlett
Red tape … Clippy McKenna and, right, Lisa Howlett are finding the rules difficult to follow
Clippy McKenna, 38
CLIPPY’S firm created an innovative range of jams with lower sugar levels.
Then Clippy’s Apples, in Sale, Cheshire, were hit by baffling red tape. Clippy said: «To be called jam it has to be more than 60 per cent sugar.
‘Reduced sugar’ jam — which tends to be full of chemicals — must be below 50 per cent. But there’s no law for inbetween. We originally called our products ‘jam’, then a letter from Trading Standards said we were breaking the law.
«If you don’t fit pre-determined categories you can’t go on sale.»
Lisa Howlett, 40
LISA urgently needs a new worker for her lettings agency but the cost is holding her back.
The mum of three runs 2 Let in Bexley, Kent. She said: «I set up the agency in June last year and it’s hard work, seven days a week. But when I talked about employing someone with my accountant, we realised the sums didn’t add up.
«Just the National Insurance and PAYE system makes it too costly, then sick and holiday pay are added on. Giving small businesses like mine help to cover things like that while we get established would help the economy.»
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