Tag Archives: economy

European Parliament President calls for creating a special economic zone for Greece

President of European Parliament, Martin Schulz, advocates the creation of a special economic zone for Greece to avoid leaving the euro and exacerbate the market onslaught against the euro.

European Parliament President calls for creating a special economic zone for Greece, Martin Schulz euro economy

In an interview with the German weekly Der Spiegel, which is published this Sunday, Schulz supports this proposal in the current conditions of adjustment squandered any chance of economic growth.

Schulz argues that the European Union (EU) could be implemented in parallel to the settings, economic stimulus programs through a “growth agency”, at the same time maintaining control of Hellenic finances.

Thus, extols Schulz, is propped “mutual trust”, as Brussels would contribute to the economic stimulus, while Athens remained committed to the reforms, with the aid and investment conditions .

This “growth agency” would involve deployment of a unit of the EU delegates in Greece decide to undertake projects. This course, which could raise reluctance in Athens, do not represent “a hostile occupying force,” says Schulz, “but an aid.”

The German economy goes into surplus for the first time since 2007

Germany returns to surplus in the first half of 2012 to 8,300 million euros . Since 2007, all had been red and the party responsible for this budget are social security contributions.

The first preliminary calculations indicate that, from January to June, the German budget recorded a surplus, 0.6% of GDP .

The German economy goes into surplus for the first time since 2007, German gdp economyData published this morning by the Federal Bureau of Statistics indicate that the decisive game is Social Security which entered during those months, 11,600 million euros, offsetting the deficit records the state, Länder and municipalities of 3,300 million.

Thanks to the enviable health enjoying employment in Germany, with over 40 million trades workers,  in the history of the Federal Republic and generate revenues in taxes, an income of 109,100 million euros in the first half, an increase of 6.3%, with social contributions, 217,900 million, an increase of 2.8%. During that same period, state spending increased only 0.8%, allowing a positive balanced data.

Recovery is even more surprising considering that 2011 ended with a deficit of 1% in the accounts of the State and in the first quarter of 2012 the state was spending 33,000 million  more than they entered. However, the Bundesbank cautioned against complacency and warns the year ahead and that the official deficit forecast for late 2012 is installed in 0.5%.

The German deficit in December lean towards positive or negative seems to depend on the situation. Today has also been confirmed that German GDP is growing at 0.3% quarterly in the second quarter, but that figure is facing a European economic slowdown, ending inevitable effects.

If they want to keep that glossy Merkel budget surplus, as worn in the forthcoming election campaign, they should know how to encourage the growth of its European neighbors .