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  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
  • strict warning: Declaration of views_handler_argument::init() should be compatible with views_handler::init(&$view, $options) in /home1/finfacts/public_html/sites/all/modules/views/handlers/ on line 745.
  • strict warning: Declaration of views_handler_filter::options_validate() should be compatible with views_handler::options_validate($form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/handlers/ on line 589.
  • strict warning: Declaration of views_handler_filter::options_submit() should be compatible with views_handler::options_submit($form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/handlers/ on line 589.
  • strict warning: Declaration of views_handler_filter_node_status::operator_form() should be compatible with views_handler_filter::operator_form(&$form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/modules/node/ on line 14.
  • strict warning: Declaration of date_api_filter_handler::value_validate() should be compatible with views_handler_filter::value_validate($form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/date/includes/ on line 578.
  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
  • strict warning: Declaration of uc_product_handler_field_price::options() should be compatible with views_object::options() in /home1/finfacts/public_html/sites/all/modules/ubercart/uc_product/views/ on line 94.
  • strict warning: Declaration of uc_product_handler_field_weight::options() should be compatible with views_object::options() in /home1/finfacts/public_html/sites/all/modules/ubercart/uc_product/views/ on line 61.
  • strict warning: Declaration of views_handler_field_user::init() should be compatible with views_handler_field::init(&$view, $options) in /home1/finfacts/public_html/sites/all/modules/views/modules/user/ on line 48.
  • strict warning: Declaration of semanticviews_plugin_style_default::options() should be compatible with views_object::options() in /home1/finfacts/public_html/sites/all/modules/semanticviews/ on line 232.
  • strict warning: Declaration of views_plugin_row::options_validate() should be compatible with views_plugin::options_validate(&$form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/plugins/ on line 135.
  • strict warning: Declaration of views_plugin_row::options_submit() should be compatible with views_plugin::options_submit(&$form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/plugins/ on line 135.
  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
  • warning: Creating default object from empty value in /home1/finfacts/public_html/sites/all/modules/views/includes/ on line 653.
  • strict warning: Declaration of views_plugin_style_default::options() should be compatible with views_object::options() in /home1/finfacts/public_html/sites/all/modules/views/plugins/ on line 25.
  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
European Union

European Union

(November 2013) Germany's economy is ticking over and its exports are booming. But many observers here and abroad don't like it. They say one reason German industry has such a competitive edge is that the wages employers are paying are too low.
(November 2013) German industry output is expected to stagnate in 2013 but strong growth is expected in 2014 boosted by a rise in demand in the US, a lesser but positive impact from China and a recovery in other single currency markets.
(November 2013) The Eurozone economy barely grew in the third quarter -- Q3, 2013, renewing concerns about stagnation, the threat of deflation and long-term high unemployment. France and Italy contracted (both at -0.1%) while growth in Europe's largest economy, Germany, was at 0.3%. In France, days after Standard & Poor's cut its rating on French public debt for the second time in the past two years and President François Hollande was booed by protestors at the Armistice Day ceremony commemorating the 99th anniversary of the end of the First World War, a report warns that France’s high minimum labour costs (about 80% above the average of the 34 mainly developed country members of the OECD), public services costing over 27% of GDP (gross domestic product), taxation of employment at 50% of wage costs and overlapping «millefeuille » of central and local government units including 36,700 municipalities, are among the factors holding back French competitiveness.
(November 2013) It is reported that the current negotiations between Germany's leading political parties, the CDU/CSU and SPD, to form a governing coalition, is expected to result in an agreement for the first time on the introduction of a countrywide minimum wage of €8.50 per hour compared with Ireland's €8.50. Research puts the subsequent employment losses at between 450,000 and 1m. It says that quite paradoxically, given the proponents’ intentions, aggregate wage income could actually decline, since the net destruction in jobs could more than offset the increase in wages per head.
(November 2013) The US Treasury said Wednesday that "Germany has maintained a large current account surplus throughout the euro area financial crisis, and in 2012, Germany’s nominal current account surplus was larger than that of China. Germany’s anemic pace of domestic demand growth and dependence on exports have hampered rebalancing at a time when many other euro-area countries have been under severe pressure to curb demand and compress imports in order to promote adjustment." The mantra about imbalances is a common but the analysis/ commentary is usually at a superficial level.
(October 2013) The ECB announced Wednesday that it will begin a series of stress tests of 130 big Eurozone banks over the next 12 months in order to prepare for the central bank's role as the supervisor of the European banking union, from November 2014.
(October 2013) Greece's government today presented a draft budget that shows the economy is on track to post its first primary surplus -- excluding interest on public debt -- since the debt crisis began in 2010. Even though the economy will contract 4% this year figures produced by the ministry of finance show a budget deficit this year of 2.4% of GDP (gross domestic product). In recent weeks, reports said that the bailout troika were sceptical about the projections.
(October 2013) After drawn-out negotiations, the ECB and the European Parliament finally agreed last month to a rule that would oblige the banking oversight agency to regularly report to parliament. Talks continue to revolve around the first pillar of the banking union -- oversight of EU banks. The second pillar - - joint liquidation of bankrupt banks - - is not expected to be fully operative until 2018.
(September 2013) After nearly two years of recession, Italy’s economy is showing signs of stabilising but continues to face strong headwinds from tight credit conditions, according to the IMF’s latest annual check-up. A modest recovery—of about 0.7 percent—is expected to take hold later this year, led by exports. Meanwhile, Enrico Letta, Italian Prime Minister is battling to rescue his coalition after five ministers loyal to Silvio Berlusconi, former PM, pulled out. "If you say some prayers for Italy in the next few days, it will certainly be useful," he said. Sheila Sitalsing writes in De Volkskrant, the Dutch daily wrote: "This is political vandalism, and only serves the strictly personal interests of a vain, power-hungry, stuck-up 77-year-old twit. Poor Letta. He was just in the process of convincing the world that Italy is a normal, governable country that it is perfectly capable of saving itself, and was courageously struggling along the path to reform. ... Things in Italy could only get better, and consumer confidence had just experienced a wondrous recovery. And then this. Of all the possible risks for the Italian economy - and consequently for the Eurozone - the International Monetary Fund had put political chaos at the top of the list. ... When Silvio B. goes he has to go with a big bang and drag the cabinet, Italy and the Eurozone down with him into the abyss."
(September 2013) After nearly two years of sagging indicators and financial flare-ups, data suggest that the economic situation is finally stabilizing—not just in a few countries but across the euro area. What will it take to go from stabilization to genuine recovery?