Newsgroup: it.arti.musica.classica
Titolo: OT- La più grande crisi finanziaria dall'inizio dell'Euro arriva in Europa

Financial Crises Spread in Europe 
 
Published: October 5, 2008 
European nations scrambled on Sunday night to prevent a growing credit
crisis from bringing down major banks and alarming savers as troubles
in financial markets spread around the world, accelerating economic
downturns on three continents.
The German government moved to guarantee all private savings accounts
in the country on Sunday, hoping to reassure depositors who had grown
nervous as efforts to bail out a large German lender and a major
European financial company failed.
Late Sunday, it was disclosed that new bailouts had been arranged for
both of those companies, Hypo Real Estate, the German lender, and
Fortis, a large banking and insurance company based in Belgium but
active across much of the Continent.
The spreading worries came days after the United States Congress
approved a $700 billion bailout package that officials had hoped would
calm financial markets globally. 
The moves came as federal regulators were trying to help resolve a
merger fight in the United States that could make investors more
uneasy. Court hearings were under way in New York on Sunday over
competing efforts by Citigroup and Wells Fargo to acquire Wachovia, a
large bank that nearly failed a week ago. 
In Europe, meanwhile, the crisis appears to be the most serious one to
face the Continent since a common currency, the euro, was created in
1999. Jean Pisani-Ferry, director of the Bruegel research group in
Brussels, said Europe confronted “our first real financial crisis, and
it’s not just any crisis. It’s a big one.”
The European Central Bank has aggressively lent money to banks as the
crisis has grown. It had resisted lowering interest rates, but
signaled on Thursday that it might cut rates soon. The extra money,
aimed at ensuring that banks would have adequate access to cash, has
not reassured savers or investors, and European stock markets have
performed even worse than the American markets.
In Iceland, government officials and banking chiefs were discussing a
possible rescue plan for the country's commercial banks. In Berlin,
Chancellor Angela Merkel and her finance minister, Peer Steinbrück,
appeared before television cameras to promise that all bank deposits
would be protected, although it was not clear whether legislation
would be needed to make that promise good.
Mindful of the rising public anger at the use of public money to
buttress the business of high-earning bankers, Mrs. Merkel promised a
day of reckoning for them as well. “We are also saying that those who
engaged in irresponsible behavior will be held responsible,” she said.
“The government will ensure that. We owe it to taxpayers.”
Stock markets fell sharply in early trading on Monday in Asia on
growing fears about the health of European banks and the resilience of
the global economy.
The Nikkei 225 index dropped 3.4 percent in Tokyo on Monday, the Kospi
index in Seoul fell 3.7 percent and the Standard and Poor’s/Australian
Stock Exchange 200 index in Sydney declined 3.3 percent. The events in
Berlin and Brussels underscored the failure of Europe’s case-by-case
approach to restoring confidence in the Continent’s increasingly
jittery banking sector. A European summit meeting Saturday did little
to calm worries. 
President Nicolas Sarkozy of France and his counterparts from Germany,
Britain and Italy vowed to prevent a Lehman-like bankruptcy in Europe
but they did not offer an American-style bailout package.
The crisis has underlined the difficulty of taking concerted action in
Europe because its economies are far more integrated than its
governing structures.
“We are not a political federation,” Jean-Claude Trichet, the
president of the European Central Bank, said. “We do not have a
federal budget.”
Last week, Ireland moved to guarantee both deposits and other
liabilities at six major banks. There was grumbling in London and
Berlin about the move giving those banks an unfair advantage. But
Germany proposed its deposit guarantee Sunday after Britain raised its
guarantee to £50,000, or almost $90,000, from £35,000.
Unlike in the United States, where deposits are fully guaranteed up to
a limit of $250,000 — a figure that was raised from $100,000 last week
— deposits in most European countries have been only partially
guaranteed, sometimes by groups of banks rather than governments. In
Germany, the first 90 percent of deposits up to 20,000 euros, or about
$27,000, was guaranteed.
The Paris meeting produced a promise that European leaders would work
together to halt the financial crisis and reassure nervous investors,
but even before the meeting began it was becoming clear that two
bailouts announced the week before had not succeeded and that a major
Italian bank might be in trouble. That bank, Unicredit, announced
plans on Sunday to raise as much as 6.6 billion euros, or $9 billion,
in capital. 
Fortis, which only a week ago received 11.2 billion euros from the
governments of the Netherlands, Belgium and Luxembourg, was unable to
continue its operations. On Friday, the Dutch government seized its
operations in that country, and Sunday night the Belgian government
helped to arrange for BNP-Paribas, the French bank, to take over what
was left of the company. 
Mr. Dougherty reported from Frankfurt, Mr. Schwartz from Paris and Mr.
Norris from New York. Katrin Bennhold and David Jolly contributed
reporting from Paris.

 ha scritto:

SECONDA PARTE
In Berlin, the government arranged a week ago for major banks to lend
35 billion euros to Hypo, but that fell apart when the banks concluded
that more money would be needed. Late Sunday, the government said a 50
billion euro package had been arranged, with the government and other
banks participating.
The credit crisis began in the United States, a fact that has led
European politicians to claim superiority for their country’s
financial systems, in contrast to what Silvio Berlusconi, Italy’s
prime minister, called the “speculative capitalism” of the United
States. On Saturday, Gordon Brown, the British prime minister, said
the crisis “has come from America,” and Mr. Berlusconi bemoaned the
lack of business ethics that had been exposed by the crisis.
Many of the European banks’ problems have stemmed from bad loans in
Europe, and Fortis got into trouble in part by borrowing money to make
a major acquisition. But activities in the United States have played a
role. Bankers said Sunday that the additional need for funds at Hypo
came from newly discovered guarantees it had issued to back American
municipal bonds that it had sold to investors.
The credit market worries came on top of heightening concerns about
economic growth in Europe and the United States. Many economists think
there are recessions in both areas, and one also appears to have
started in Japan, where the Nikkei newspaper reported Monday that a
poll of corporate executives found that 94 percent thought the
country’s economy was deteriorating. 
“Unless there is a material easing of credit conditions,” said Bob
Elliott of Bridgewater Associates, an American money management firm,
after the retail sales figures were announced, “it is unlikely that
demand will turn around soon.”
Almost unnoticed as the United States Congress approved a $700 billion
bailout for banks last week, it also agreed to guarantee $25 billion
in loans for America’s troubled automakers. European automakers said
Sunday they would seek similar aid from the European Commission.
Henry M. Paulson Jr., the United States Treasury secretary, hoped that
approval of the American bailout, which will involve buying securities
from banks at more than their current market value, would free up
credit by making cash available for banks to lend and by reassuring
participants in the credit markets.
But that did not happen last week. Instead, credit grew more expensive
and harder to get as investors became more skittish about buying
commercial paper, essentially short-term loans to companies. Rates on
such loans rose so fast that some feared the market could essentially
close, leaving it to already-stressed banks to provide short-term
corporate loans.
Altria, the parent company of the cigarette maker Philip Morris, said
lenders wanted it to delay its planned $10.3 billion acquisition of
UST, another tobacco maker, until 2009, but promised it would complete
the deal. 
Europe’s need to scramble is in part the legacy of a decision to
establish the euro, which 15 countries now use, but not follow up with
a parallel system of cross-border regulation and oversight of private
banks.
“First we had economic integration, then we had monetary integration,”
said Sylvester Eijffinger, a member of the monetary expert panel
advising the European parliament. “But we never developed the parallel
political and regulatory integration that would allow us to face a
crisis like the one we are facing today,” he added.
In Brussels, Daniel Gros, director of the Center for European Policy
Studies, agreed. “Maybe they will be shocked into thinking more
strategically instead of running behind events,” he said. “The later
you come, the higher the bill.”
While the European Central Bank has power over interest rates and
broader monetary policy, it was never granted parallel oversight of
private banks, leaving that task to dozens of regulators across the
Continent.
This patchwork system includes national central banks in each of the
euro-zone’s 15 members and they still retain broad powers within their
own borders, further complicating any regional approach to
problem-solving.
The European economic landscape today bears little resemblance to the
1990s, when the groundwork for the euro was laid. Back then, Mr.
Pisani-Ferry recalled, few banks in Europe had cross-border operations
on a significant scale. 
A wave of mergers over the last decade created giants like HSBC and
Deutsche Bank, which straddle continents and have major American
exposure.
"The European banking landscape was transformed fairly recently,” Mr.
Pisani-Ferry said. “When the euro was first introduced, the question
of cross-border regulation didn’t really arise.”
Optimists say one potential long-term benefit from the current turmoil
is that it often takes a crisis to propel European integration
forward.
“Progress in Europe is usually the result of a crisis,” Mr. Eijffinger
said. “This could be one of those rare moments in E.U. history.”


Già è una pappardella e la posti pure in inglese... ma chi vuoi che la 
legga? 

 Financial Crises Spread in Europe 
Mi spiace, ma non mi metto a tradurre.
Ringrazio solo Dio, Manitu, Confucio, 
Buddha e perfno Allah di aver pagato 2 
mesi fa l'ULTIMA rata del mutuo..... :-)))))
-- 
========================
Marco Marcelli - Genova
========================

 mesi fa l'ULTIMA rata del mutuo..... :-)))))
Il problema non è dei debitori delle banche, ma dei loro creditori!
Arne
-- 
La Grande Musica è quella austro-tedesca

 mesi fa l'ULTIMA rata del mutuo..... :-)))))
Non dimenticare di ringraziare anche
Makemake. Non si sa mai.
 Childerich

 Il problema non è dei debitori delle banche, ma dei loro creditori!
io penso che i problemi sono nati con la nascita del circuito finanziario 
parassita che oggigiorno sovrasta economia, società e governi ossia il 
circuito reale. Spero che si possa battere la fame con la pertica. Così sarà 
screditata tutta una classe di cialtroni presuntuosi. Se i margini ti si 
sono ristretti e osi mettere piende in instituto per chiedere un piccolo 
respiro ti dicono che devi spalmare i costi per l'aumentato tasso di sconto 
sui clienti. Ecco la loro politica. Non ti danno una mano per evitare il 
crack abbonandoti qualcosina ed evitare crisi che annientano il sistema. 
Dopo interviene signo bancocentrale a regalare soldi sul circuito 
finanziario. Il mondo della mutella. Ma gli si ritorce tutto contro... Ride 
bene chi ride ultimo!


 Makemake. Non si sa mai.
CHI ?????


 CHI ?????
Makemake, il creatore dell'universo secondo i rapanui (gli abitanti
dell'isola di Pasqua).
 Childerich

legga? 
Ma come ! Un mio amico paleografo, preside di facoltà,  mi assicurava
che tutti gli studenti della sua università parlavano, scrivevano e
leggevano alla perfezione l'inglese. Allora non è vero !  E come
cavolo fanno a usare internet? Con quelle orrende traduzioni
improponibili? E per comunicare con gli altri 5 miliardi e 940 milioni
di individui che popolano la terra? L'italiano, a parte quei 4 gatti
del Ticino, è una lingua per pochi intimi. Troppo pochi per contare
qualcosa...
GP



Você comeu algo estranho.
  Childerico

  Childerico
Eh !!!  Uma feijoada completa com farofa e queijo catupiri...gostosa
...paca !!!!
GP

 ...paca !!!!
Eh, magari! Ma non sono in Brasile.
Ancora per un giorno mi trovo in Cile, dove il piatto nazionale non é
unico, ma ce ne sono diversi.  Il Curanto, lo stufatone con frutti di
mare, pesce, carne e verdure (gnam!). Spesso preparato in pentoloni
enormi e poi dato a tutti gli abitanti del pueblo. Uno dei candidati
al ruolo di Alcalde (sindaco) di Hanga Roa, capitale di Rapa Nui, ha
organizzato un megacuranto gratis per tutti, anche  per i turisti.
Tra parentesi, fa un effetto curioso vedere una parola araba - Alcalde
viene da قاضي, qāḍī (copiato e incollato dalla rete, eh) - usata per
il titolo di un funzionario pubblico di un'isola nella quale gli
autoctoni parlano sempre più frequentemente il polinesiano, ma lo
spagnolo moderno é fatto così.
Altro piatto gustoso é la loro fagiolata nazionale, i porotos
granados.
Infine l'immancabile chancho en piedra, usato come antipasto, con il
pane, servito in praticamente ogni ristorante prima di portare le
pietanze ordinate. Si prepara con pomodoro, peperoncino verde, pepe,
aglio tritato, cilantro, sale e olio. Taglia a pezzetti piccoli i
pomodori e mettili in un mortaio con peperoncino verde e pepe tritati,
cilantro tritato, sale, olio, aglio schiacciato e lascia macerare per
un po' al freddo.
 saluti
  Childerich

 un po' al freddo.
Acc..... detto cosi' pare DELIZIOSO! :-))
M
-- 
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ab...@newsland.it


Oddio, qui in Spagna, in periodi vacche grasse, la gente si è caricata sulle
spalle anche due mutui a tasso variabile e ora direi che qualche problemino
ce l'hanno...
Ciao.
--------------------------------
Inviato via 
http://arianna.libero.it/usenet/

unico, ma ce ne sono diversi. 
Mannaggia doge !!!! Sei in Cile e non me l'hai detto prima. Di te mi
sarei fidato ciecamente. Volevo controllare una notizia che ho letto
sull' Herald Tribune e che mi ha sconvolto !
Ne parleremo al tuo ritorno Quando sarai in Europa ? Sei stato a Rapa
Nui ? Con la LAN Chile? Per curiosità quanto costa oggi. Io ci andai
(e feci una coglionata) 12 anni fa e pagai di solo biglietto A\R da
Santiago 1200 dollari. ! Per vedere quei capoccioni, 6 e passa
interminabili ore di volo , poi  col mare inavvicinabile e tutto que
vento. Beh...pazienza è andata e non me ne pento, ma mi
pentii...allora
Ciao a presto
GP

 pentii...allora
I prezzi sono crollati da quando la LAN ha deciso di mandare in
pensione i vecchi 707 e di usare dei bellissimi 767.  Sei giorni alla
settimana ci sono voli da Santiago a Mataveri,  un giorno ce ne sono
ben due, e due voli la settimana proseguono/provengono anche da Faa'a
(Tahiti). Capita di vedere dei turisti tahitiani parlare in
polinesiano con dei rapanui.  Parlano quasi la stessa lingua - gli uni
con un accento francese, gli altri con un accento spagnolo...  A Rapa
Nui c'e' molto di più dei moai (i testoni), ci sono interessanti
grotte usate per protezione e coltivazione, lo spettacolare cratere
del vulcano Rano Kau, la spiaggia di Anakena, i tour ai tre piccoli
isolotti, il Motu Nui, Motu Iti e Motu Kaokao, per andare a immergersi
(questo non lo ho fatto - ho solo fatto un weekend - due giorni pieni
- e non c'era tempo per fare tutto).
 ciao
  Childerich

 - e non c'era tempo per fare tutto).
E molto altro ancora.  Pesce buonissimo.  Non ci si deve aspettare
di poter assistere ad un concerto di musica da camera con
quartetti di Beethoven, peró...
 Childerich

 mesi fa l'ULTIMA rata del mutuo..... :-)))))
e io ho ringraziato e ringrazio tutti i santi di non averne avuto bisogno...
altrimenti chissà cosa sarebbe successo ora...
D.

Oh, gente, avete letto cosa ha scritto Freiherr Childerich von
Bartenbruch?

fra tutti i posti che ho visitato nelal mia non lunga vita di sicuro l'Isola
di Pasqua è il più bello ,suggestivo, emozionante di tutti... io poi ci sono
andato in solitaria non con i soliti gruppi organizzati becerissimi, mi sono
girato l'intera isola da solo e sempre ed esclusivamente a piedi, molto
invidiato dagli altri ospiti dell'albergo che invece eraqno costretti a
mouversi in gregge... alla sera poi mi chiedevano delle mie escursioni....
bello bello bello...
D.