Föhrenbergkreis Finanzwirtschaft

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Archive for 28. Oktober 2015

Bank Austria: Italiener sollen sich an Personalstruktur stoßen

Posted by hkarner - 28. Oktober 2015

Renate Graber, 28. Oktober 2015, 05:30. derstandard.at Graber Standard

AVZ und Betriebsratsfonds prüfen ihr Mitspracherecht

Wien – Die Pläne, die die Mailänder Unicredit für ihre Österreich-Tochter Bank Austria (BA) wälzt, halten die Betroffenen auf Trab. Mittwoch voriger Woche habe BA-Chef Willibald Cernko stundenlang mit Konzernchef Federico Ghizzoni telefoniert, erzählt man, sei nun in die Überlegungen eingebunden. Bawag-Hauptaktionär Cerberus hatte zuvor in Mailand sein Interesse am Kauf des Retailgeschäfts der BA angemeldet.

Auch eine Aussprache mit der Belegschaftsvertretung hatte Cernko; der Betriebsratsfonds hält ja BA-Namensaktien und hat über sie, wie die Gemeinde-Wien-nahe AVZ-Stiftung, Mitspracherechte.

Sparpläne werden am 11. November veröffentlicht

Die Italiener, die am 11. November ihre (Spar-)Pläne für die Unicredit-Gruppe veröffentlichen, sollen in Österreich besonders die Personalstruktur (samt unkündbaren Mitarbeitern und alten Pensionsverträgen) sowie die IT als Problem identifiziert haben. Die IT war 2013 Gegenstand eines kritischen Prüfberichts der Nationalbank; gebündelt ist die IT aber in der Unicredit-Tochter Ubis. Den Rest des Beitrags lesen »

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Tugendhaftes Finanzinstitut auf Promotour

Posted by hkarner - 28. Oktober 2015

Bitte „naiv“, „unprofessionell“, „unrealistisch“ nicht mit „Tugendhaft“ verwechseln! (hfk)

Katharina Mittelstaedt, 28. Oktober 2015, 14:01, derstandard.at

Ende 2016 soll eine österreichische Ethikbank eröffnen, die Finanzspekulation ablehnt und gemeinnützige Projekte unterstützt – zur Umsetzung fehlen Frauen, Westösterreicher und Geld

Es ist wie im Spitzensport, sagt Toni Innauer. Und als ehemaliger Profiskispringer muss er es ja wissen: „Man macht mit, obwohl man weiß, es ist nicht gesund. Sollen notwendige Reglementierungen eingeführt werden wie im Skisprung ein Mindestgewicht, gibt es lange Widerstand.“ Er macht eine kurze Pause. „Bis die kritische Masse zu stark wird.“

Innauer spricht eigentlich über die Wirtschaft, genauer: das Bankenwesen. Er sitzt am Podium einer Pressekonferenz in Innsbruck. Der Ex-Sportler war einer der ersten Genossenschafter des Projekts „Bank für Gemeinwohl“. Für ihn steht fest: „Die Finanzindustrie braucht einen Gegenentwurf.“ Den Rest des Beitrags lesen »

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America’s Syria Non-Policy

Posted by hkarner - 28. Oktober 2015

Photo of Christopher R. Hill

Christopher R. Hill

Christopher R. Hill, former US Assistant Secretary of State for East Asia, was US Ambassador to Iraq, South Korea, Macedonia, and Poland, a US special envoy for Kosovo, a negotiator of the Dayton Peace Accords, and the chief US negotiator with North Korea from 2005-2009. He is currently Dean of the Korbel School of International Studies, University of Denver, and the author of Outpost.

OCT 28, 2015, Project Syndicate

DENVER – Russia’s bold entry into Syria’s civil war could end badly for its leadership. But in the Middle East, everyone can lose nowadays. Just as Russia might lose for going in, the United States could lose for staying out – or, more specifically, for failing to design, much less pursue, a coherent, goal-oriented policy in the country.

For better or worse, Russian policy in Syria reflects not just a goal, but also a real strategy aimed at achieving it – a strategy that Russian President Vladimir Putin recently advanced by meeting Syrian President Bashar al-Assad for talks in Moscow. Now that Russia has knocked at least some of Assad’s enemies on their heels, the Kremlin has decided that the time has come to discuss forthcoming political arrangements – or, perhaps more accurately, the time has come to tell Assad what will happen next. Den Rest des Beitrags lesen »

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The Pain in Spain

Posted by hkarner - 28. Oktober 2015

Photo of Simon Tilford

Simon Tilford

Simon Tilford is Deputy Director at the Center for European Reform.

OCT 28, 2015, Project Syndicate

LONDON – Spain is the eurozone’s latest poster child for austerity and structural reforms. Its economy has expanded for eight consecutive quarters, steadily gaining momentum and easily outperforming the rest of the currency union. Export growth has matched that of Germany; unemployment has fallen by over a million people in two years; investment is picking up; and industrial production has jumped 5% in the last 12 months.

But Spain’s recovery is not quite what it seems, and there is scant evidence that what progress the country has made is the result of austerity and reforms.

In fact, far from adhering to the usual austerity narrative – according to which fiscal consolidation revives business confidence and thus investment and job creation – Spain’s return to growth partly reflects the easing of austerity since early 2014. The country has sensibly resisted pressure from the European Commission to take more aggressive steps to reduce its deficit, which, at 5.9% of GDP, was the European Union’s third highest last year. Den Rest des Beitrags lesen »

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How the US Treasury avoided Chronic Deflation by Re-linquishing Monetary Control to Wall Street

Posted by hkarner - 28. Oktober 2015

Dank an H.F.

2015 10 29 Hudson
By Michael Hudson
The Eurozone today is going into the same deflationary situation that the U.S. did under Jack-son’s destruction of the Second Bank, and the post-Civil War budget surpluses that deflated the economy. But whereas the Fed’s creation was designed to inflate the U.S. economy, Europe’s European Central Bank is designed to deflate it — in the interest of commercial banks in both cases.
1. Introduction Deflation was the main U.S. financial problem prior to 1913. To replace the Treasury conducting its fiscal operations independently from the banking system, New York banks urged more power over public finances and to establish the Federal Reserve to increase the supply of money (a more “elastic” issue) in response to banking needs. Monetary policy since the Great Depression that started in 1929 has aimed at re-inflating the economy after downturns, fueling the post-2001 financial bubble and, since 2008, Quantitative Easing to provide banks with liquidity to support asset prices.
By contrast, Europe’s trauma of hyperinflation after World War I gave Europe’s bankers and bondholders a rationale for gaining power over governments to prevent them from monetizing their budget deficits. The rhetoric of fighting inflation has enabled German and French banks to impose tight money policies and smaller public self-funding than in the United States. On both continents, banks gained power over governments. But in America it was by insisting on more money creation and deficit spending, and in Europe by advocating limits on public money to fi-nance deficits. For most of the 19th century the U.S. Treasury conducted its monetary and fiscal policy in ways that imposed deflationary pressures on the banking system. President Andrew Jackson (1829-1837) of Democratic Party starved the economy of credit by his war on the Second Bank of the United States and removal of government deposits to sub- treasuries around the nation. His Democratic Party policy was backed by Southern plantation owners opposing Northern industry and saw to that would have increased urban industrial demand for food and other consumer goods, raising prices for plantation owners. Den Rest des Beitrags lesen »

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The Best and Worst Countries to Run a Business, According to the World Bank

Posted by hkarner - 28. Oktober 2015

Date: 28-10-2015
Source: The Wall Street Journal

WB Doing Business Ranking ScoreRather than create more attractive business climates to spur souring growth prospects, many of the world’s largest economies may actually be making it more difficult to start and run a company.

Almost half of the Group of 20 largest economies have fallen in the World Bank’s annual “Doing Business” rankings, including emerging markets such as China, Turkey, South Africa and Brazil that most need economic overhauls to revive growth prospects.


The World Bank’s flagship report on the best and worst places to start and operate a business in 189 economies WB Doing Businee 2015 structurearound the globe underscores the inability of many governments to make needed policy changes.

Global growth is settling into a long period of anemic expansion as large emerging markets—the world’s most powerful engines since the global financial crisis—sputter and big advanced economies remain stuck in low gear. Those troubles are rippling out across the globe, jeopardizing prospects for rich and poor countries alike. G-20 nations have vowed to restructure their economies to make them more competitive and attractive to investment, but have so far failed to deliver on their promises. Den Rest des Beitrags lesen »

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USA: Steuerbehörde plant Massen-Überwachung von Handys der Bürger

Posted by hkarner - 28. Oktober 2015

Deutsche Wirtschafts Nachrichten  | 

Die US-Steuerbehörde nutzt Stingray-Geräte zur flächendeckenden Überwachung von Handys. Ob sie dabei gegen geltendes Recht verstößt, ist unklar. Derzeit nutzen 56 US-Polizeibehörden Stingrays, um US-Bürger abzuhören.

Das Gerät Stingray zur Überwachung von Handys wird in den USA von 56 Polizeibehörden genutzt. Nun wurde enthüllt, dass auch die Bundessteuerbehörde des Landes Handys abhört. (Grafik: American Civil Liberties Union)

Die Bundessteuerbehörde der USA (IRS) soll Zehntausende Dollar für die Anschaffung von spezieller Software ausgegeben haben, um die Handys von US-Bürgern flächendeckend abhören zu können. Die IRS soll vom US-Konzern Harris Corporation den „Basisstations-Simulator“ erworben haben. Die Harris Corporation ist auch der Produzent des Mobilfunküberwachungssystems Stingray, berichtet der Guardian.

Bereits Anfang Juni war bekanntgeworden, dass das FBI ein geheimes Überwachungs-Programm innerhalb der Landesgrenzen durchführt, bei dem auch Stingrays genutzt werden. Problematisch ist, dass US-Behörden Stingrays nur dann einsetzen dürfen, wenn ein Gerichtsbeschluss vorliegt. Doch derzeit bleibt ungeklärt, ob der IRS jemals ein Gerichtsbeschluss als Rechtfertigungsgrund für die Überwachungen vorlag.

Die American Civil Liberties Union berichtet, dass 56 Polizeibehörden in 22 Staaten Stingrays einsetzen.

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Truth, Lies, and Venezuela

Posted by hkarner - 28. Oktober 2015

Photo of Ricardo Hausmann

Ricardo Hausmann

Ricardo Hausmann, a former minister of planning of Venezuela and former Chief Economist of the Inter-American Development Bank, is Professor of the Practice of Economic Development at Harvard University, where he is also Director of the Center for International Development. He is Chair of the World Economic Forum’s Global Agenda Meta-Council on Inclusive Growth.

OCT 27, 2015, Project Syndicate

CAMBRIDGE – Venezuelan President Nicolás Maduro has a problem with me again. The government-controlled national television station recently broadcast an illegally taped private phone conversation in which I proposed a study to explore how to rescue the Venezuelan economy by leveraging the support of the international community. The government unsuccessfully edited the recording to make what was said sound nefarious, lied about the conversation’s meaning and about me, and plans to prosecute me.

This got me thinking about the eternal problem of evil. Is it entirely relative, or are there objective grounds to characterize a behavior or act as evil? Do all confrontations occur between legitimate parties – with, say, one person’s terrorist being another’s freedom fighter – or can we say that some fights really are between good and evil? Den Rest des Beitrags lesen »

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Kinder und Jugendliche sind die Verlierer

Posted by hkarner - 28. Oktober 2015

Date: 27-10-2015
Source: Zeit

Die Wirtschaft erholt sich, doch die junge Generation profitiert davon kaum. Laut einer Studie sind 26 Millionen Kinder und Jugendliche in der EU von Armut bedroht.

26 Millionen Kinder und Jugendliche sind nach einer Studie der Bertelsmann-Stiftung in der Europäischen Union von Armut und sozialer Ausgrenzung bedroht. Damit sind die Jüngeren die größten Verlierer der Wirtschafts- und Schuldenkrise der vergangenen Jahre in der EU.


Betroffen sind demnach fast 30 Prozent aller unter 18-Jährigen. Weit über fünf Millionen der Jungen haben sogar nur geringe Zukunftsperspektiven, da sie weder Ausbildungsplatz noch Arbeit finden. Den Rest des Beitrags lesen »

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Would Germans Ever Cross the Street on a Red Light?

Posted by hkarner - 28. Oktober 2015

While – for Italians it is said – traffic lights are just recommendations! (hfk)

Date: 27-10-2015
Source: The Wall Street Journal

Rule-abiding nation may yield as walkers, cyclists question fines

In Berlin, people patiently wait at red lights. But Germany’s Left Party hopes to change traffic rules to allow pedestrians and cyclists to cross on red without facing a fine.

BERLIN—It’s late at night in sleepy central Berlin, the roads are empty, and the light is red. For many German commuters, whether on two wheels or on two feet, the proper course of action is clear: You wait. Den Rest des Beitrags lesen »

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