Europe has become an international credit rating agencies take turns “against” the object.
Fitch Ratings on December 23 announced that due to Portugal and Hungary’s financial situation and economic outlook pessimistic, down two sovereign credit ratings. ECB Executive Board member Stark 24, said Fitch’s approach is worrying, for the end of the debt crisis in Europe did not help, but make the situation worse.
Core EU member states, although France’s sovereign credit has been “warning”, but its S & P sent in before Christmas Eve, “peace symbol”, confirmed the country’s “AAA” rating.
Fear of the Portuguese economy will decline
Portugal deficit reduction because the slower pace of work, and the Government and the Bank’s financing environment has become “more difficult”, the national long-term foreign and local currency rating from “AA-” down a file to “A +”.
Fitch has also against Portugal, “the short-term economic outlook deteriorating,” expressed concern. Fitch believes that the Portuguese economy will face “extreme challenges”, 2011, the country’s economy will enter recession.
Portuguese government plans, the budget deficit in 2012, the ratio of GDP to 3% by 2013 and further to 2%, and in 2012 the ratio of public debt to GPD peaked at 86%. However, Fitch believes that to achieve these objectives, the Portuguese government needs to take additional measures. Portuguese Government data released in December, three-quarter GDP growth of only 0.3% qoq, due to sluggish domestic demand, growth prospects.
Prior to that, the other two rating agencies Standard & Poor’s Ratings Services and Moody’s Investors Service are in the month of Portugal’s sovereign credit rating issued a warning.
Deterioration of the Hungarian debt
Fitch, 23, also announced that, due to the Hungarian budget situation deteriorated, and foreign currency debt high, the country long-term foreign currency issuer default rating from “BBB” down to “BBB-“, the long-term local currency issuer default rating from “BBB +” down to “BBB”, the two rating outlook is “negative”; Fitch while Hungary’s “A” Class ceilings lowered to “A-“, and confirm the short-term foreign currency issuer default rating to “F3”.
Fitch’s Emerging Europe sovereign ratings, said Parker, head of the Hungarian medium-term base budget situation has deteriorated significantly, and the higher the government and the banking sector foreign currency debt, making it difficult to resist the negative impact of the country.
Hungarian Ministry of Economic Affairs said later, the rating was not reduced accidents, the ministry said Fitch never released the expected improvement in the financial situation in Hungary, “rating downgrades in the short term financing capacity of the Hungarian cause harm.” But the ministry said, “Fitch does not fully consider the economic development situation in Europe in 2011 Hungary is in addition to Sweden, the only way to reduce the deficit of the EU member states.”
The date of the Hungarian Parliament adopted the government budget for fiscal 2011, plans to GDP, the ratio of budget deficit from 3.8% in 2010 fell to 2.94%, 3% in line with EU requirements. Hungarian government said the country will be able to cut the budget deficit stability, while restoring economic growth.
Maintain the AAA rating in France
International rating agency Standard Poor’s Ratings Services, 23 confirmed that the French long-term and short-term sovereign credit ratings are “AAA” and “A-1 +”; rating outlook are stable.
S & P credit analyst Mark Moss Nick said Standard & Poor’s believes that the French government will continue implementing fiscal consolidation measures, the country in 2013 to a deficit-GDP ratio fell to around 3%, the agency approved the current GDP of France growth and domestic consumption trends, in favor of its stable political environment and prudent economic policy direction.
Currently, the French economy only moderate growth and high unemployment are the major challenges it faces. French National Employment Office and the Bureau of Labor Statistics 24, announced in November the number of unemployed increased to 269.81 million 2.13 million, the unemployment rate rose by 0.8% qoq, creating the largest monthly increase in six months; rose 2% year on year, higher than October an increase of 1.8%. French government expects GDP growth in 2010 will be 1.6% of GDP in 2011 is expected to grow 2.0%, but still insufficient to support the job market quickly rebound.
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A former mailman who proposed to paint the town hall pink, turn the local town square into a nudist pool, and to plant a marijuana field in the local park has been elected to the Reus, Spain town council.
Ariel Santamaria promised to show up to the town’s council meetings dressed up as Elvis Presley if he was elected and kept his word at the town’s first meeting on Thursday.
Before being elected, Santamaria who is a member of the Reus Independent Coordination, had also promised the town’s 100,000 residents that he would install a GPS system at the police department that would allow officers to track people who are smoking marijuana and provide them with a light if they need one.
An unnamed media consultant who works for Santamaria set up a website for his campaign and followed Santamaria wherever he went, dressed as a pirate.
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Judge M. Brooke Murdock of the Baltimore Circuit Court in Maryland struck down a 1973 law banning same-sex marriage yesterday, ruling the measure violated a state constitutional amendment prohibiting sex discrimination.
The decision will not allow gay couples to be immediately eligible for marriage licenses because Murdock stayed the order pending an appeal. The state’s attorney general’s office filed the appeal right after the ruling was made.
“Although tradition and societal values are important, they cannot be given so much weight that they alone will justify a discriminatory statutory classification,” the judge stated in the ruling. “When tradition is the guise under which prejudice or animosity hides, it is not a legitimate state interest.”
In making the decision, Judge Murdock wrote, “the court is not unaware of the dramatic impact of its ruling.”
Ken Choe, a lawyer with the American Civil Liberties Union’s (ACLU) Lesbian and Gay Rights Project, said “men and women were indeed treated differently under the law Judge Murdock struck down. A man can marry a woman, but a woman can’t marry a woman. Same-sex couples need the same protections for their families that opposite-sex couples do.”
The ACLU hailed the ruling, calling it “a historical step toward allowing same-sex couples to legally marry in Maryland.” She considered but dismissed all the state’s arguments for the restriction, noting “Prevention of same-sex marriage is not rationally related to the state’s interests in promoting stable families and protecting the best interests of children. … These arguments are illogical and inaccurate.”
Governor Robert L. Ehrlich Jr. released a statement saying that that the state will “begin a vigorous appeals process. I firmly believe the institution of marriage is for one man and one woman only.”
Governor Ehrlich had sent to Attorney General J. Joseph Curran Jr. (D), a letter in response to the ruling advising him to appeal the decision and offered additional resources to support the appeal.
“We have noted an appeal and think it appropriate that the court stayed the operation of its order,” said Kevin J. Enright, a spokesman for Curran, in a statement. “We await having the decision of Maryland’s appellate courts.”
The Maryland House of Delegates scheduled hearings for January 31, 2006 on proposals dealing with same-sex marriages, including a proposed constitutional amendment.
John Lestitian, a plaintiff in the case, said Murdock’s decision was “a step in a very long process. As a 40-year-old man, I should be able to decide who my family is.”
“This is such an exciting moment,” said Lisa Polyak. Her partner of 24 years, Gita Deane, was a plaintiff in the case. “Our participation in this lawsuit has always been about family protections for our children. Tonight, we will rest a little easier knowing that those protections are within reach.”
The equal rights amendment in Maryland’s State Constitution was ratified by voters in 1972. The marriage law which defined marriage as only between one man and one woman was approved the following year.
The lawsuit leading to the decision started when nine gay and/or lesbian couples and one individual sued court clerks in five Maryland counties for denying marriage licenses to them, citing legal, financial, and emotional harm. In July of 2004, the ACLU filed the suit challenging the state ban on same-sex marriage.
In the latest incident, a Boeing 767 headed from Sydney to Manila was forced to turn back yesterday after ground staff at the airport noticed what they believed to be smoke emanating from the jet’s wing as it departed. It turned out to be fine spray from a hydraulic fluid leak, and the aircraft brought its 200 passengers back down safely at around 3:00 p.m., with ARFF trucks on standby.
Despite the aircraft being forced to turn around, the pilot did not request a priority landing and so Qantas refused to describe the event as an emergency landing.
Qantas has a largely good safety record, having never lost a jet aircraft or had a fatality on board one. Their last fatal accident was in 1951. However, recently two other events have led to some questioning of Qantas from within the aviation industry.
Last Monday, a Qantas Boeing 737-800 returned to Adelaide after experiencing pressurization problems caused by the failure of an undercarriage door to retract properly. This followed the July 25 accident on board Flight 30, a Boeing 747 headed from London to Melbourne that had just made a stopover in Hong Kong, in which an exploding oxygen cylinder caused an explosive decompression. An emergency landing was performed in Manila, with a hole blown in the aircraft’s side.
According to Qantas staff, the problems are not a new thing. Qantas flight attendants have asked senior management for an emergency meeting over these latest events. The Flight Attendants’ Association of Australia’s president Steven Reed said “We want some assurances from the company that these are isolated incidents. Or are they something we should be concerned about? We need to meet with the company at a senior level to have these assurances.” Such a meeting is said to be likely within a week.
Qantas engineers have been complaining for some time about maintenance issues, saying that cost-cutting and outsourcing are compromising the quality of maintenance. Much work is now being done in countries such as Hong Kong, Malaysia and the Philippines. According to one engineering union official, recent incidents linked to outsourced maintenance include a failure of emergency lighting and flight attendants in the galley being electrocuted by faulty wiring.
According to the Australian Licensed Aircraft Engineers’ Association’s assistant federal secretary, Wayne Vasta, there has been a recent “change in culture” at Qantas, although he did say it would be inappropriate to blame only outsourcing. He said that while previously Qantas engineers had simply attempted to do the best they could, “Now it appears we have got to do the best job we can possibly do, within a budget.” He also expressed a welcoming of the CASA probe.
Qantas’ engineers are currently lobbying for a pay rise, and say the airline is risking safety with cost cuts.
Peter Gibson, spokesperson for CASA, said no trouble had been spotted in recent safety audits of Qantas, but they felt it ‘prudent’ to investigate given the recent string of incidents. He acknowledged that the review is unprecedented in CASA’s history, and announced the probe would be headed by senior official Mick Quinn.
“We want to look at their safety systems to make sure that the systems are operating the way they should. All these things are stated in manuals. We want to make sure that what is in the manuals is being done,” Gibson told reporters. He said the investigation should take around two weeks.
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Knowing The Secrets Of Forex Trading Can Yield Lots Of Money
Forex trading is a short form for foreign exchange trading. As the name suggests, it concerns itself with trading over currencies of different currencies. In other words, it simply refers to currency trading. However, it is easier said than done. It is a highly complex process, given the constant variations and fluctuations in the world market, be it the stock market, the commodity market or the currency market. So to be able to trade in currency, one has to have a strong understanding about all the market systems and the different kinds of financial instruments like bonds, derivatives etc. and how the different companies in the different sectors are doing. Not only that, because it involves trading over currencies, it demands an in-depth knowledge of the entire economy of the at least the two countries on whose currencies the trading is being done. There are several kinds of
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In the earlier Bretton Woods system, the price of currencies relative to a particular currency used to be fixed. However, liberalization in terms of the foreign currency market has meant that the relative prices of currencies with respect to one another are now decided by the forex market. As has been stated earlier, it is better to have thorough knowledge of the matter before indulging in the complex trading. For this, it is better to enroll yourself in a forex trading course. Even though there can be interventions by central banks, this market is often referred to as one having the highest possible level of competition, which is arguably the best thing that can happen to any market, as that leaves the fixing of the prices of the traded item (in this case, currency) entirely on the market forces. Many private firms are engaged in the forex trading business, and the average daily turnover is reportedly said to be in the tune of about US $4 trillion! This mammoth transaction amount can be broken up into outright forwards, forex swaps, options, spot transactions, options etc. Of these, spot transactions and currency swaps alone account for over US $3 trillion! As expected, the forex trading market has the highest level of liquidity among all market systems. The top ten traders in currency include Deutsche Bank, Morgan Stanley, JP Morgan, Citi, Goldman Sachs, HSBC etc. Having a forex trading guide is highly recommended.
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The Iranian government has announced that the nation will be participating in a missile defense test which could take place as early as tomorrow.
According to the IRNA, Iran’s official news agency, the test is an annual exercise aimed to “maintain and develop” defense capabilities of the Iranian Revolutionary Guard.
The exercise is named ‘Great Prophet 4’ and will involve shooting a variety of live missiles at targets. Reports say the drill will be conducted in several unknown locations and will last for several days. The exercise also falls on the Jewish holiday of Yom Kippur.
The announcement comes just hours after the Iranian government stated that the nation was building a second nuclear power facility. The announcement was made in a September 21 letter from the Iranian government to the United Nations Security Council that a second nuclear plant was being constructed in the city of Qom.
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Four people have been shot and killed and at least 15 wounded when a gunman opened fire inside a LA Fitness center in Bridgeville, Pennsylvania. The gunman was among the dead.
Reports say the man walked into a dance room where an all-female Latin dance class was in session, turned off the lights and began to shoot people. CNN reports that the gunman was a “middle-aged white male.” One witness said he was carrying a duffel bag, which he put down before shooting into the crowd. After opening fire, he turned the gun on himself. At least 30 people are reported to have been in the room at the time of the shooting.
Allegheny County police Superintendent Charles Moffatt said, “I’ve never seen nothing quite like this. It was very chaotic. […] There’s a good belief that the shooter is deceased.”
Collier Township Police Chief Tom Devin stated that the police, “believe the shooter committed suicide at the scene but we’re not positive.” Police report that the shooter’s motive may have been a domestic dispute with one of the exercisers.
Mike Hentosz, a witness who was inside the gym, said, “I feel like it’s a dream. I don’t know what to think of it.” A woman participating in the class, Nicole, said that 10 minutes into the class, “a middle-aged white male walked into the class. He had a big gym bag. […] He looked out of place in a class full of women.” When he began firing, she reported, she ran out of the gym and escaped in passerby’s car.
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In an apparent coordinated attack, 13 schools were set ablaze late yesterday in southern Thailand, an escalation of violence that authorities are blaming on Muslim insurgents.
The 13 schools were burned in Pattani and Yala, two of the three restive, Muslim-majority Thai provinces on the border of Malaysia.
On Monday in the third province, Narathiwat, three teachers were fatally shot. Two female teachers, both Buddhist, were fatally shot while on lunch break at Bansako School in Si Sakorn. A male teacher from another school was gunned down while buying cigarettes at a store in Ra-ngae. On Tuesday morning in Yala’s Raman district, a 60-year-old Muslim teacher was fatally shot in his pick-up truck on the Raman-Balo road.
Since 2004, more than 200 schools have been burned in arson attacks and 77 teachers killed, education officials say. About 110 schools in Narathiwat and Yala provinces have been temporarily closed, while officials re-assess the security situation.
Teachers and schools, potent symbols of the Buddhist majority Thai central government, are prime targets in the Muslim insurgency in south Thailand, which has seen a steady escalation since 2004, with almost daily fatal shootings and bombings, killing more than 2,300 people.
School staff called on the government to provide better security. Many teachers travel with armed escorts, or have taken to carrying firearms themselves.
“We want school compounds to be safe areas for teachers. Today we have no safe areas for teachers, be they houses, communities or schools,” Vicharn Athikapan, chairman of the Confederation of Southern Teachers, was quoted as saying by the Bangkok Post yesterday. “Although it is difficult to deploy soldiers to protect teachers at schools, the state must do it.”
Today, a Royal Thai Army soldier was seriously injured in the explosion of a roadside bomb, which was placed opposite a vocational college in Narathiwat.
Late yesterday evening (local time), a 44-year-old man was killed in a drive-by shooting in Yala. Earlier, in Narathiwat’s Rueso district, three men were fatally shot, and one was beheaded. The beheading was the 10th this year, and one of 25 in southern Thailand since 2004.
Also yesterday, one soldier was killed and another injured in a roadside bomb near a school in Thung Yang Daeng, Pattani. Another soldier was killed and six others injured in Pattani’s Yarang district when a roadside bomb ripped through the pickup truck they were riding in.
On Tuesday in eastern Thailand‘s Sa Kaeo Province, on the border with Cambodia, police detained 15 Cambodian Muslims after one of the group was found to be carrying items that could be used to make bombs.
The owner of the bag told police he was carrying the items for a friend in southern Thailand, and were to be used to make explosives for catching fish. The items were seized, and all 15 men were sent back to Cambodia.
The incident follows a diplomatic flare-up last weekend between Thailand and Cambodia, after published comments were attributed to Thai General Wattanachai Chaimuenwong, saying Cambodian Muslims have links to the Jemaah Islamiyah terrorist organization, as well as the south Thailand insurgency.
Wattanachai, an adviser to Prime Minister Surayud Chulanont, later denied making the statements, after Cambodian Prime Minister Hun Sen issued an angry rebuke against Thai officials.
“Because of their own weakness, they are now finding others to blame,” Hun Sen was quoted as saying by the Associated Press.
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Buffalo, New York — The property at 605 Forest in Buffalo was the center of attention at last night’s public meeting held at the offices of Forever Elmwood on Elmwood Avenue in Buffalo. Eva Hassett, Vice President of Savarino Construction Services Corporation, confirmed last night that the company will be seeking a variance for the 605 Forest property. Originally, both the 605 and 607 Forest Avenue properties were going to have variances placed on them. As it stands, 607 Forest will not be directly affected by the proposal, should it go forward. Both 605 and 607 are currently occupied by residents.
During Monday night’s meeting, Pano Georgiadis, owner of 605 Forest and owner of Pano’s Resuraunt at 1081 Elmwood Avenue in Buffalo, threatened to “sue” Savarino Construction if they tried to obtain a variance on his property to build the Elmwood Village Hotel.
The Elmwood Village Hotel is a proposal by Savarino Construction that would be placed on the corner of Forest and Elmwood in Buffalo. In order for the project to move forward, at least five buildings (1119-1121 Elmwood) which include both residences and businesses will have to be demolished. The hotel was designed by architect Karl Frizlen of the Frizlen Group. Although the properties are “under contract,” according to Hassett, it is unclear whether Savarino Construction owns the properties. Hans Mobius, a resident of Clarence, New York and former Buffalo Mayoral candidate, is still believed to own them.
Currently, none of the properties is zoned for a hotel.
A freelance journalist writing for Wikinews asked Hassett what kind of zoning permit they [Savarino] would be applying for and, if 605 Forest is included, what zone that would be.
Buffalo, N.Y. Hotel Proposal Controversy
“Old deeds threaten Buffalo, NY hotel development” — Wikinews, November 21, 2006
“Proposal for Buffalo, N.Y. hotel reportedly dead: parcels for sale “by owner”” — Wikinews, November 16, 2006
“Contract to buy properties on site of Buffalo, N.Y. hotel proposal extended” — Wikinews, October 2, 2006
“Court date “as needed” for lawsuit against Buffalo, N.Y. hotel proposal” — Wikinews, August 14, 2006
“Preliminary hearing for lawsuit against Buffalo, N.Y. hotel proposal rescheduled” — Wikinews, July 26, 2006
“Elmwood Village Hotel proposal in Buffalo, N.Y. withdrawn” — Wikinews, July 13, 2006
“Preliminary hearing against Buffalo, N.Y. hotel proposal delayed” — Wikinews, June 2, 2006
“Hotel development proposal could displace Buffalo, NY business owners” — Wikinews, February 17, 2006
“There is a ‘special development plan’ in front of the council, which changes only one thing about the zoning. It allows one permitted use for just a hotel. The rest of the zoning remains as it is under the current Elmwood Business District zoning. 605 and 607 Forest are not required for the project. They are not part of the footprint for the project. Let me answer this question again. This is on the record, in council: 605 needs to be rezoned in order to facilitate the project because of the sideyard requirement. Anything in C-2 is excluded besides the hotel. So we’ve taken the C-2 and included the hotel as a permitted use, and excluded everything else and everything else remains the same.”
However, during the February 28 Common Council meeting, Hassett was quoted as saying that the two properties were “off the agenda.”
“Now Karl said, at the last meeting, that they will build this hotel right on the borderline [property line]. If a wall forty-five to fifty feet high goes next to this house, of course it’s not right. You really have to go with whatever the city code says, so you have to get back as many feet as the city code says,” said Georgiadis.
“If you try to get a variance to change the code, I will sue you. This is my home, number one,” added Georgiadis. “First of all I think we are all wasting our time here, you [Savarino], have already made up your mind, but if you go against city code, and you try to do the most rooms with a minimal amount of parking, again, I will sue you. If you build a hotel, in my idea its going to fail. It’s doomed, ok. [If] it’s going to be a home for the disabled, for the homeless, for recovery people, but that’s another story. Then how is it going to be when we say, well I told you so? You will be over and done with. Its very hard to take a four story building [hotel] down.”
Georgiadis stated last night that he was against the proposal and signed a petition to stop it, jokingly saying, “this isn’t a paper to sign to build the hotel, is it? Don’t make me sign the wrong thing.”
Joseph Golombeck, district councilman, was at Monday’s public meeting and said, “we also did request this and the reason we are doing this as a special business district is so that it has to be this specific plan. They [Savarino] can’t go halfway through it and in six months decide that [the hotel] it’s going to be three floors. They can’t decide it’s going to be five floors. It has to be, per law, exactly what it is that they brought to us [the public] so far, and then ultimately to the City of Buffalo Common Council when it’s approved. So if it gets approved, it has to be this specific, exact project. They couldn’t make it fifty parking spots, they couldn’t make it thirty. It has to be specifically what they have right here.”
A man who lives on Granger Street in Buffalo attended the meeting, speaking in favor of the hotel development. He claimed, “There are a lot of low property values. Hopefully if we embrace development, our property values, for those of us who have property, will go up. There are a lot of people unfortunately, who are working hard, that do not get a chance to come to these meetings. I myself was at work and wasn’t able to go to the last two meetings. I express that we appreciate that you [Savarino] invest in the City of Buffalo and for what you hope, because I do not think Savarino is into losing money. These people are not in business to be losing money here. They are hoping for the success of this [the hotel] more than any one of us. They are hoping that the property values in this area will go up more than any one of us, because it will benefit them [the residents and business owners], more than any one of us. I want this city to develop. I don’t think anybody else is here understanding that we’re looking for development in this city, we are looking for the city to get better. The councilman here is not interested in Buffalo failing.”
Evelyn Bencinich, resident of Granger Street, would have the hotel directly behind her home, if it were to be built.
“What about construction [time]? Is that just for the exterior, the nine months? Or does that include the interior? Is there going to be blasting through bedrock? Is there property protection for damage? Are you [Savarino and the Frizlen Group] responsible?”, asked Bencinich.
According to Frizlen, there is a layer of solid bedrock at least 30 feet from the surface of the land saying, “we anticipate that the bedrock is at least thirty feet down.” He also admitted that “we haven’t done any soil sporrings,” but did say “the bedrock is somewhere in between twenty-five and thirty feet [down], we don’t need to go that deep. So blasting is most likely out of it [the question].”
“Personally, I can only speak from the city side, but a few years ago we rebuilt Vulcan Street, in the northwest corner of Buffalo, and there were a couple of properties that were damaged and they [the owners] were able to file a claim against the company that did the work and they won in each case. It was the same thing with a school that was built on Military Road. There were a couple of problems with foundations on a couple of properties, and they weren’t sure if caused by the school or not, but the insurance company ended up paying them,” answered Golombeck.
“I would assume that Savarino is insured with someone. So if there is a problem with anything that happens to your properties, what I would recommend is that anybody that lives on Granger Place, if this does go through, that you get pictures taken of your basement and of your foundations, because God forbid if there is a problem, you want to have an[sic] before and after [picture]. You don’t want to come afterwards and there’s a crack in there [foundation] and you have no way of proving that it happened,” added Golombeck.
According to Golombeck, the properties that Mobius owns have been “in housing court on several occasions, but has a date of April 11, 2006 that he is going back [to court] for these properties. So it is in housing court and I wouldn’t know Mr. Mobius if he walked in this room right now,” stated Golombeck.
“I’ve gone after him on numerous occasions and everytime he gets out of housing court with a slap on the wrist. If I am a conspiracy theorist and say that there is a lot more going on than meets the eye. I can only get him into housing court. Once he’s in housing court, the judge rules on it. Now I don’t mean to take any shots at previous administrations, but I am hoping with the new administration, being in here, that the inspections department is going to be a much better department than it has been for the previous several years.”
The city’s Planning Board on March 14, 2006, agreed to send the Elmwood Village Hotel proposal back to the Common Council so that it may “be opened back up to discussion from the public.”
On March 2, 2006 the Common Council sent the proposal “to committee” for further discussion and also requesting that the public be “engaged further.”
During that meeting, Justin Azzeralla, Executive Director for Forwever Elmwood, said that the organization “supports the hotel project.”
Also on March 2, the planning board agreed to table, or postpone, any decision on the hotel proposal for at least thirty days, also citing the need for the public to be “more engaged.”
The Common Council is expected to meet on March 21, 2006 at 2:00pm local time where they may approve or deny the proposal.
According to The Buffalo News, at least six Common Council members support the hotel project and are pledging to vote to approve it at the meeting on Tuesday, March 21.
However, the city’s Planning Board will get the final say on the project.
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