Asia at the head of the Euro: A welcome respite !
In a way that demonstrates how countries outside Europe are concerned by the evolution of the European currency and its faltering economies, China and Japan have taken public initiatives which indicate that the fate of the Euro does not indifferent. There are even rumors of intervention in the form of bond purchases could come from the United States.
Admittedly, this is not a purely altruistic act, even if, contrary to what the cynics think, there is a real sense of solidarity between nations in times of crisis. At the opening of European markets, the statement of the Bank of Japan are intended to subscribe to 20% of the bonds placed on the Irish market had the effect of stopping down the Euro, and avoided what would have could be a black day both on the foreign exchange markets as the stock and bond markets. For now, the yen supports the entire weight of the two currencies weakened, the dollar and the euro.
Few months ago, China had announced its intention to subscribe for Greek bonds for 3 billion euros. She has repeatedly reaffirmed its support for Euro. Major investor in government bonds, China represents a real support capability.
On the Asian perspective, the weakening of the euro is bad news. The arrival of the European currency was indeed a major breakthrough for Europe, but also constituted an alternative to the dollar as reserve currency. All Asian central banks have not only U.S. Treasury bonds, but bonds of European countries. A collapse of the Eurozone would destroy this alternative in that currency bonds of the States of the Eurozone would have neither the size nor the liquidity requirements. For Europe, it would mean higher costs of funding.
Moreover, Asia "gate" the resumption of economic growth around the world. If Europe is weakening, this burden is increasing: in fact, the Europeans may no longer be buyers of Asian products and it would threaten their own export industries. Suffice it here to think of Japanese cars that are hitting Europe.
Yesterday was a day of silence at European level. The action was located in the countries concerned and the European Central Bank bonds issued by Portugal were swallowed by the ECB. This is not healthy and dangerous long-term. This is especially a risky precedent. However, the ECB could not sit back and let the panic spreading.
In these circumstances, the situation in Portugal is the central concern: Portugal do not ask for help because he will not accept conditions that accompany such aid, namely a policy of austerity. Angela Merkel, the German Chancellor, said it was in Portugal to decide and not the European Union. The Irish had "kept" two months ...
The greatest danger now lies in the quality of banks in the countries concerned. They lost their notation following that of their country of origin. Added to this is that states are desperately trying to refinance with their own banks already weakened by the crisis.
To strengthen confidence, the only cure is a new stress test for European banks, but with a more robust test than the previous which had reassured that policy. The banks are not there to support their governments to the detriment of their own strength. If this trend continues, some banks are likely difficulties of financing the domino effect would be fatal to the European banking system.
2011 – The Year for Europe !
First, let me send you sincere greetings. In reviewing your comments and level of attendance of this blog, I feel privileged to have you as readers and commentators. This conversation initiated in October 2008 continues and is enriched.
Having crossed yesterday Indian villages for a whole day and saw how poverty and the abandonment of many of them do not improve, it seems strange to me to return to our Western realities and risks involved in 2011 whose We just celebrated the birth.
It seems increasingly clear that the way Europe will be able to develop policies that allow both the responsibility and solidarity will play an important role during the coming year. This does not mean that Europe is the only cause of some problems that trouble our financial markets and economies. The United States and Japan are not in a good posture. The impact of (re) European action and solutions to the crisis in public finances, will go into effect well beyond the borders of Europe.
Faced with this challenge, finding the New York Times is hurting: Europe continues to operate under its own pace without changing either its procedures, nor its means of action. It is bogged down in decision methods that do not change at a time when we should develop a more radical and faster, manage imbalances. A form of "radical new thinking".
What is also striking is the world's attention toward Europe. After all, the problems facing the Eurozone are not inherently impossible to solve, even if the fundamental solutions will take time. What the world expects is a form of determination and common visions and the challenges of this first crisis of Euro-zone growth. Printing is a lack of consensus on the fundamentals of a common currency area, characterized by the same currency, monetary policy and a common central bank.
Excessive government spending and excessive debt levels are common problems for households. The recipes are not particularly revolutionary: to reduce their lifestyle, increase revenues and gradually reduce its debt.
What kind of action he need to take in 2011?
First honest transparency that goes to the bottom of the problem, not the child and sometimes hypocritical attempts to hide the harsh realities: the lack of income due to the fact that these are taxes on consumption (VAT) , real estate and wages and other labor income, which provide the bulk of tax revenue. Harmonization of taxation of capital income would also be desirable utopian. By cons, corporate tax is totally inadequate for the social cost of business. It is always easier to attack the individual.
On the cost side, the thing is obviously painful: the reality is that budgets are incompressible. At least drastically reduce military spending (that Greece should have done long ago and nobody requires it), the cost of health care and education, representing over three-quarters of the budget, there is not great leeway other than reducing the social cost of public service and managed public service. This is immediate, but it's not fair.
In the present situation, however, further steps must be taken and, in some cases, they must be invented. Basically, the question of charging interest and repayment of public debt should be reviewed. The first is a spread that burden over time: the consolidation over the medium term (the term no longer exists) the obligations of European governments and public sector must be implemented urgently. It is indeed not indifferent to whether a country's debt is repayable in its great majority At maturity and two or three or five to seven years.
Tax class change: How to do it right
There are many reasons why one would change the tax class. In a marriage or a divorce, with a change of career-financial situation in which unemployment benefits or if the tax burden, unfavorable tax bracket is a change of often a good idea that lets you save money can.
In fact you can quite often even change the tax bracket: Once a year you can by such a change better net -income guarantee. In addition to the deadlines and procedures but also have other things to be considered and well respected. Thus, not all of the wage tax brackets for all employees possible.
Tax class change: This is how it is!
- Period: You can leave once a year to change the tax class must note, however, that the latest date is the end of the tax year. The 30th November each year is therefore the date.
- written request: The change in the tax bracket is only available on written request. Forms for this can be found on the Internet or in the communities.
- Application: The application must be made at the town hall or the city office, not the tax office.
- Choice of tax brackets: Straight spouses have a greater range in the choice of tax bracket. If one is married, one is (coming tax class 6 to for second jobs), as a rule in the tax class 1. Traditionally, both spouses are first filed in tax class 4.
- very different salaries: For spouses, the difference in salaries relate strong, it can be useful if one of them with more money in tax class 3's, while the other is the tax bracket 5 comes in: For the latter taxes rise in the taxes but very, but they fall for the former but in huge volume - the bottom line is, the more money together to come out for both.
- Procedure: First, one concern from respective employers the tax cards . With these and the ID cards you go to that point and there filled out the application or deliver it when the form is loaded and the network has previously filled out. If only one spouse for the administration goes, he needs a mandate from the other.
- alternatively: You can request a change in tax class in an informal letter. In this case, but the documents must be enclosed in photocopy.
- Calculator: The Internet is an online calculator, the fiscal and monetary advantages can calculate in advance.
Discount charge: formula and instructions
If the discount is mentioned, then there is a reduction on bills when they set a time limit to be paid. If the lower amount within that period, to pay, then by the end of the period to pay back the original invoice amount.The formulation of a discount deal could then look like this: When a payment within 7 days 2% discount may be deducted from the invoices. Otherwise, the full invoice amount within 30 days without any deductions.
Discount calculate and save money
In general, common discount agreements a period of about two weeks and one invoice discounts of up to 5%. Here, agreements should be made in writing in each case.
Normally the discount is calculated on the gross invoice amount. This discount rate is the specified percentage, the amount deducted from the account. Here, however, be noted that then a sales tax correction must be carried out.
One often used in practice in addition to the basic discount and a tiered system. In this case, the supplier grants various discount periods in which the discount decreases the longer the payment is deferred. For a supplier offering the discount the advantage that the customer invoices paid quicker and quicker so that his claims to be cash equivalents.
We now clarify the basis of the discount formula, the question of how to calculate the discount and you can save money can.
Business Idea: Mobile plans for world citizens
Fortunately, there are now many low cost providers which ensure that the customer can cheap phone calls with his cell phone. Why did, applause, applause! But it seems to me a challenge not yet solved. What about people who travel abroad frequently?
There are the exorbitant roaming fees, which amount to a large part of the monthly phone bill. For myself, there are regularly between 80% and 90%. Roaming call it when a network operator forwards incoming and outgoing phone calls to a mobile phone user with the card of a foreign network operator. So on a German intermediary without profit increase in the value chain.
And now you come into play. Do not worry if you are not a large telecom provider. The well-known discounters for phone cards (such as simyo) are all just tiny provider, with very few employees, but a solid business idea, good marketing and a fully outsourced services. So why not a cheap mobile phone tariff offer for people who travel abroad frequently? Develop a portable business model, you start a business and do the citizens of the world today something good! In a few years we meet again, if you invite me to a side trip on your yacht, around the island, you just bought ...
The repayment plan – important for loans
There are quite a few motivated start-ups failed because it founders on the necessary financial expertise lacked. In addition to good business idea and the necessary know-how of course includes basic knowledge of the main funding steps. Should in addition to the financing plan, probably the most entrepreneurs need also an amortization table can be created.
Overview of residual debt
A repayment plan provides the necessary overview of the remaining debt, the interest and the remaining installments. These are important variables which normally then all of relevance to before when connected to unscheduled or if credit is to be increased.
Create your own amortization schedule
A good plan can even create one. Sun repayment plan, for example, one or the other German interest stored in computers. But an Excel repayment plan is only a variant, to calculate the outstanding balance. Another possibility is to calculate the repayment online. There are many free tools , such as online amortization schedule calculator. Here you have only the size of the loan, the interest rate, repayment rate and the rates Interval. With the additional information about run time and optional service charges can then create their individual repayment plan.