Föhrenbergkreis Finanzwirtschaft

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Archive for 28. April 2017

Studie: Österreich verliert an Sozialkapital

Posted by hkarner - 28. April 2017

28. April 2017, 17:23, derstandard.at

Legatum Institute untersucht Wohlstand in 149 Ländern – Österreich auf Rang 15

Wien – Um zu beurteilen, wie sich Wohlbefinden und Zufriedenheit in einer Gesellschaft entwickeln, reicht es nicht aus, allein das Wirtschaftswachstum im Auge zu behalten: Diese Erkenntnis ist heute eine Binsenweisheit unter Ökonomen. Doch alternative Wohlstandsindikatoren zu entwickeln, die Beachtung finden, ist ebenfalls nicht einfach.

Genau das versucht das in London ansässige Legatum Institute. Der Thinktank versucht mit einem eigenen Index (Legatum Prosperity Index) die Entwicklung in 149 Ländern zu vergleichen. Am Freitag wurden die Ergebnisse der Wohlstandsmessung 2016 in Wien von Shanker Singham von Legatum und Erste-Bank-Chef Andreas Treichl präsentiert. Die Erste fungierte als Co-Sponsor der Untersuchung. Den Rest des Beitrags lesen »

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Rechnungshof spricht sich für Zusammenführung der Bankenaufsicht aus

Posted by hkarner - 28. April 2017

Die Bankenaufsicht bleibt dual, obwohl der Rechnungshof in seinem heute vorgelegten Bericht genau das Gegenteil empfiehlt.

Gestern hat der Rechnungshof (RH) dem Nationalrat seinen Bericht über die Österreichische Bankenaufsichtarchitektur vorgelegt. Darin empfiehlt er die organisatorische Zusammenführung der auf Finanzmarktaufsicht (FMA) und Nationalbank (OeNB) aufgeteilten Bankenaufsicht. Nach der jetzigen Konstruktion gebe es keine Kostentransparenz und die Abstimmungsprozesse seien komplex, kritisieren die Prüfer. Sie empfehlen, zu untersuchen, inwieweit eine Zusammenführung zu einer Erhöhung der Kosteneffizienz beitragen würde.

Eine solche Prüfung hat wie berichtet bereits stattgefunden. Die Arbeitsgruppe untersuchte damals im Auftrag des Finanzministeriums und des Bundeskanzleramtes vier Varianten. Den Rest des Beitrags lesen »

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Five Scenarios for Brexit – With Only One Good Outcome

Posted by hkarner - 28. April 2017

Date: 28-04-2017
Source: YaleGlobal

The European Council meets April 29, to prepare for negotiations and its stance on the United Kingdom parting ways with the European Union. “The stage is set for a dramatic – traumatic – meeting with destiny for Britain and its former 27 partners,” explains author Joergen Oerstroem Moeller. “Five scenarios appear on the horizon, four of which point to total breakdown followed by a clean cut in economic and trade links between Britain and the EU.” Negotiations to revise trade, security, immigration and other agreements will be acrimonious – influenced by geopolitics, strategic interests, domestic politics and economics. A civil breakup, one that is sensible, requires technical expertise and diplomacy. Britain’s prime minister has called for a snap election on June 8, hoping to consolidate political support at home. The country takes a risk by ending its membership in the world’s most powerful trading block, and the British may pay more for products and services while attracting less foreign investment. Only geopolitical disaster, Moeller concludes, might convince the European Union and Britain to cooperate and close ranks to defend common interests. – YaleGlobal Den Rest des Beitrags lesen »

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A Grand Strategy for Donald Trump?

Posted by hkarner - 28. April 2017

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What Mandate for Theresa May?

Posted by hkarner - 28. April 2017

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Climate-change sceptics will shrug but such reactions are profoundly misguided. They just don’t give a damn

Posted by hkarner - 28. April 2017

Date: 27-04-2017
Source: The Economist
Subject: The Arctic as it is known today is almost certainly gone

On current trends, the Arctic will be ice-free in summer by 2040

THOSE who doubt the power of human beings to change Earth’s climate should look to the Arctic, and shiver. There is no need to pore over records of temperatures and atmospheric carbon-dioxide concentrations. The process is starkly visible in the shrinkage of the ice that covers the Arctic ocean. In the past 30 years, the minimum coverage of summer ice has fallen by half; its volume has fallen by three-quarters. On current trends, the Arctic ocean will be largely ice-free in summer by 2040.

Climate-change sceptics will shrug. Some may even celebrate: an ice-free Arctic ocean promises a shortcut for shipping between the Pacific coast of Asia and the Atlantic coasts of Europe and the Americas, and the possibility of prospecting for perhaps a fifth of the planet’s undiscovered supplies of oil and natural gas. Such reactions are profoundly misguided. Never mind that the low price of oil and gas means searching for them in the Arctic is no longer worthwhile. Or that the much-vaunted sea passages are likely to carry only a trickle of trade. The right response is fear. The Arctic is not merely a bellwether of matters climatic, but an actor in them.

The current period of global warming that Earth is undergoing is caused by certain gases in the atmosphere, notably carbon dioxide. These admit heat, in the form of sunlight, but block its radiation back into space, in the form of longer-wavelength infra-red. That traps heat in the air, the water and the land. More carbon dioxide equals more warming—a simple equation. Except it is not simple. A number of feedback loops complicate matters. Some dampen warming down; some speed it up. Two in the Arctic may speed it up quite a lot. Den Rest des Beitrags lesen »

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Angela Merkel attacks British ‚illusion‘ of keeping benefits of EU

Posted by hkarner - 28. April 2017

Date: 27-04-2017
Source: The Guardian

German chancellor says UK cannot have same rights as member states nor negotiate trade relations before agreeing to pay its bill
Angela Merkel outlines Germany’s position on Brexit negotiations.

Angela Merkel has said British politicians are still living under the “illusion” that the UK will retain most of its rights and privileges once it leaves the European Union.

Addressing her parliament ahead of this weekend’s EU summit at which European leaders will formally adopt Brexit negotiation guidelines, the German chancellor said: “Countries with a third country status – and that’s what Great Britain will be – cannot and will not have the same or even more rights as a member of the European Union. All 27 member states and the European institutions agree on this.”

“Ladies and gentlemen,” she continued, “you may think that all this is self-evident. But I have to put this so clearly because I get the impression that some in Great Britain still have illusions about this, and that is a waste of time.”

Merkel also said it made “no sense” to negotiate a future UK-EU relationship without agreement on the UK’s financial commitment to the EU, while also hinting that parallel discussions could be possible once questions about budget contributions had been satisfied. Den Rest des Beitrags lesen »

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How to preserve the benefits of central-bank autonomy

Posted by hkarner - 28. April 2017

Date: 27-04-2017
Source: The Economist

Twenty years after the Bank of England was given independence, the powers of central banks are in the spotlight

ON MAY 6th 1997 Gordon Brown, freshly installed as Britain’s chancellor of the exchequer, announced that he was giving the Bank of England the responsibility for setting interest rates. The bank would be charged with meeting an inflation target set by the government.

The move was hailed as a political masterstroke. It gave substance to the new Labour government’s claims to economic competence. Long-term borrowing costs fell sharply. The pound soared. The bank’s governor, Eddie George, was delighted. But joy was not unconfined. Within weeks Mr Brown, wary of an over-mighty central bank, stripped it of its responsibilities for bank regulation and public-debt management. Den Rest des Beitrags lesen »

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