La banque française en guerre contre l’Europe – The French Bank in war against Europe
It is not usual to see Christian Noyer, the Governor of the Bank of France, out of the reserve that confer high an employee and his supervisor function banks. Yet, it has not quite harsh words to attack the draft reform of the public issued banks on 29 January by the European Commissioner responsible for the internal market, the French Michel Barnier. “These ideas are, I weigh my words, irresponsible,” said M. Noyer at the address of a “stunned” Barnier to see a man “also relevant” making such statements. The problem is that one and the other have some reason.
Their conflict focuses first on how to curb the risks in the banking sector. In fine, it is to ensure that public money is put to contribution, as was the case during the banking crisis of 2008.
M. Barnier proposes to prohibit the thirty most large banks to speculate for their own account. He wants to impose to confine a large number of risky market transactions in a solidly capitalized subsidiary. This is what we call the separation of banking activities. M. Noyer considers that such a separation would restrict liquidity in markets and adversely affect the financing of the economy.
Nationalbank-Papier zu Risikoabschätzung: Zusätzlich bis zu acht Milliarden Folgekosten – National Bank paper risk assessment: up to an additional 8 billion costs
The discussion of a bankruptcy of the state Hypo Alpe Adria does not stop. Austrian National Bank (OeNB) and Task Force Hypo warn the government against this variant; imponderable to be its consequences. In a letter to the Ministry of Finance of 19 November, the present standard, the OeNB Governing Board estimates the losses from a “disorderly liquidation” of the Institute with “up to 16 billion euros.”
Erdogan will Internet-Kontrolle - Erdogan wants Internet control
Istanbul – The Turkish government wants to secure extensive rights to control the Internet. Prime Minister Recep Tayyip Erdogan has put forward a bill, according to which the State Internet authority may block unwanted content within a few hours and without a court order. In addition, the surfing habits of users are stored for two years and can be viewed by the Secret Service. Erdogan justified the advance with the protection of individual rights. The opposition called for a further restriction of freedom of expression in Turkey. Parliament is to vote on the law in the next few days.