Cipro: Intervista con Athanasios Orphanides

Intervista con Athanasios Orphanides, Governatore della Banca centrale cipriota  attualmente professore alla scuola di amministrazione economica dell’istituto di tecnologia del Massachusetts. Qual è il prossimo passo, per Cipro? C‘è un piano B? Spero che ci siano dei piani alternativi, sia a Cipro sia presso i partner europei. Il risultato delle decisioni dei governi dell’Eurozona è stato spingere Cipro a cercare l’aiuto altrove, in Russia. È uno sviluppo molto triste del progetto dell’Unione europea. Appunto, la Russia. Che ruolo può giocare, adesso? La Russia ha quasi un monopolio di buona parte delle forniture di gas nell’Europa continentale e come sapete ci … Continue reading Cipro: Intervista con Athanasios Orphanides

Cipro e il finto prestito dell’unione Europea

Relazione 21045/013   dr. Marcello Orsini Anche se l’isola nel centro del Mediterraneo conta solo per lo 0,2% del PIL dell’Eurozona, l’Unione Europea ha preferito intervenire per evitare contagi – vista poi la fragilità in cui si trova l’Italia dopo le elezioni politiche e la poca liquidità di denaro che circola negli stati dell’Eurozone. Ai negoziati della notte scorsa ha partecipato anche la direttrice generale del Fondo monetario internazionale. Christine Lagarde ha spinto fortemente per evitare che il paese si indebitasse troppo. Per questo l’intervento è sceso da 17 a 10 miliardi. Per questo il governo cipriota imporrà una tassa del … Continue reading Cipro e il finto prestito dell’unione Europea

San Marino—2013 Article IV Consultation Concluding Statement of the Mission

The economic recession is likely to persist into 2013, with growth hampered by weak external demand and the continued effects of San Marino’s inclusion in Italy’s tax black list. While most banks appear to have reasonably strong capital and liquidity, the State should stand ready to further recapitalize Cassa di Risparmio (CRSM) as needed, for CRSM is a key element of the Sammarinese economy. It will be important for the government to rebuild strong fiscal reserves, and this will require setting more ambitious targets for the planned tax reform and expenditure review. Finally, San Marino has, in recent years, unwound … Continue reading San Marino—2013 Article IV Consultation Concluding Statement of the Mission

Resolutions for the Fiscal New Year—Staying on Track Is No Easy Task

by Carlo Cottarelli and Philip Gerson We’re one month into 2013, and if past experience is any guide, by now many people will have all but forgotten the promises they made about the things they planned to do over the coming year. It’s a time-honored tradition in many countries for people to make resolutions at the New Year, usually involving things that are good for them, like achieving a healthier weight. Unfortunately, it’s also traditional that these commitments quickly fall by the wayside, only to be taken up again next year, usually with the same results. But unlike many of these … Continue reading Resolutions for the Fiscal New Year—Staying on Track Is No Easy Task

Gradual Upturn in Global Growth During 2013

World Economic Global growth is projected to increase during 2013, as the factors underlying soft global activity are expected to subside. However, this upturn is projected to be more gradual than in the October 2012 World Economic Outlook (WEO) projections. Policy actions have lowered acute crisis risks in the euro area and the United States. But in the euro area, the return to recovery after a protracted contraction is delayed. While Japan has slid into recession, stimulus is expected to boost growth in the near term. At the same time, policies have supported a modest growth pickup in some emerging … Continue reading Gradual Upturn in Global Growth During 2013

COLOMBIA

Country Report No. 13/35 STAFF REPORT FOR THE 2012 ARTICLE IV CONSULTATION §        Staff Statement of January 23, 2013. §        Informational Annex prepared by the IMF. §        Public Information Notice (PIN) summarizing the views of the Executive Board as expressed during its January 23, 2013 discussion of the staff report that concluded the Article IV consultation. KEY ISSUES Context. Following buoyant economy activity in 2011, growth is moderating to potential, largely reflecting the lagged impact of countercyclical policies and weak external demand. Inflation remains subdued. A cabinet reshuffling in early September and ongoing peace negotiations have provided a renewed momentum … Continue reading COLOMBIA

Musulmani e finanza in Europa

Relazione Commissione 245/013 Relatori: BCE –  dr. Rossana  BOLDI ABE – dr.  Michel Barnie ABO – dr.  Marcello d’Aragona ABI – dr.   Giorgio Pinti La presenza sul mercato di banche islamiche pone i musulmani di fronte ad una scelta morale ed identitario Politica Internazionale, La finanza islamica è un fenomeno internazionale la cui valenza economica, politica esociale non è più trascurabile. Nata quarant’anni fa con una piccola cassa di risparmiorurale nel Delta del Nilo, dagli anni ’90 i più grandi gruppi finanziari arabi e occidentali, fracui HSBC e Citigroup, investono ampiamente secondo i principi islamici. Dopo essersiconsolidata nel mondo … Continue reading Musulmani e finanza in Europa

A New Global Economy for a New Generation

As prepared for delivery Introduction: Priorities for 2013   Good evening. Let me begin by thanking my dear friend Klaus Schwab for the singular honor of addressing all of you. I know we are all still deeply concerned with the state of the global economy. Where do we stand? Well, thanks to policy actions taken over the past year, we have seen some respite and some stabilization in financial conditions. But it is not all good news. The recovery is still weak, and uncertainty is still high. As the IMF announced just a few hours ago in our World Economic … Continue reading A New Global Economy for a New Generation

Interview with President of International ABO dr. Marcello d’ Aragona

Intervista al presidente della ABO international. I fattori determinanti per l’inserimento di top manager italiani nei ranghi internazionali? dr. Marcello d’Aragona Il problema  sostanziale, è quando da assicuratori o altro, si vuole diventare finanzieri, induci quindi la società a investire, comprando le partecipazioni più disparate.” Non si fa un buon servizio. “Quando usando i soldi dei risparmiatori che si vorrebbero ben gestiti, si comprano invece un pezzettino di Telecom e l’1%, di una banca russa, si mettono a repentaglio oltre 2 miliardi con un altro finanziere come il ceco Kellner, oppure ci si impegna nell’operazione Citylife a Milano in piena … Continue reading Interview with President of International ABO dr. Marcello d’ Aragona

Poland Renews IMF Credit Line for $33.8 Billion

POLAND’S ECONOMY January 18, 2013 Policy performance strong, but growth has started to slow due to uncertainty in the eurozone Renewal of credit line will help insure Poland against downside risks Reforms Needed to boost the economy’s growth potential The IMF’s Executive Board has approved the renewal of Poland’s Flexible Credit Line (FCL) for two years. The amount of the new FCL, which the authorities intend to treat as precautionary, will be for about $33.8 billion. In its latest assessment of the Polish economy, the IMF said that Poland’s economy has started to slow after showing resilience since the onset … Continue reading Poland Renews IMF Credit Line for $33.8 Billion