Shipping sector in Germany

A good article about nowadays shipping industry in Germany by Klaus Küper, S.D.M.'s correspondent in Germany:

http://www.linkedin.com/e/-f07h2z-gqnp4urw-65/ava/63811449/2085727/EML_anet_di_pst_ttle/

Moody's cuts Greece's rating

Moody's Investors Service lowered Greece's credit rating from "Caa1" to "Ca" (one step above default). Private investors to take the losses?

More at:
NY Times: http://www.nytimes.com/2011/07/26/business/global/european-sovereign-debt-crisis.html

Business Day: http://www.businessday.co.za/articles/Content.aspx?id=149213

Moody's: http://www.moodys.com/research/Moodys-EU-Support-Package-Permits-Orderly-Default-by-Greece-and?lang=en&cy=global&docid=PR_223328

Panama out of OECD's "Grey List"

Panama is now out of the OECD's "grey list" after the signature of 11 treaties: Barbados, France, Italy, Luxembourg, Mexico, the Netherlands, Portugal, Qatar, South Korea, Singapore and Spain.

Panama has already signed 1 tax information exchange agreement... with the US, of course.

(Des)Economics

On the 7th July 2011 the ECB announced an increased of the refinancing rate of 0,25% to1,50%.

This is the second increase during this year.

According to Jean-Claude Trichet, the ECB president, a third raise during the year is considered and may be possible.

Given the austerity measures taken by most of the EU member states, cuts in salaries and other benefits, increases of direct and indirect taxes on companies and individuals and increasing inflation all over the EU, whom can this measure benefit apart from literally a couple of countries such as Germany where the economy starts performing, although slowly, and measures in benefit of the tax payers such as a reduction of taxes have been announced?

Now that banks tightened the conditions for granting loans and try to prevent a new financial crisis, shouldn't we let economy work and promote healthy consumption once more?

The bad student

After having announced an increase of taxes for individuals and corporations and cuts in some deductions in the year 2011, how is Luxembourg government wasting taxpayers' money?

1. Additional EUR 20.000.000 are being asked to support and expand a technologically outdated "E-Go" system;
2. Making contraceptive pills available for free to girls up to the age of 25;
3. Expanding public services and increasing the number of public workers.

In a period where every other European country is being asked to control expenditure, what do Luxembourg decision makers know that others don't?

Luxembourg: property prices continue to rise

According to STATEC (National Institute of Statistic and Economic Studies of Luxembourg) the average price for an apartment in Luxembourg in 2011 is now EUR 3.950 per square meter.

Compared to 2010 the price for a second hand apartment increased by 1,2% to EUR 3.600 per square meter while the price for a new apartment decreased 0,6% to EUR 4.480.

Luxembourg moves to (money-laundering) white list

Luxembourg was removed from the "grey list" during Paris meeting last 23-25 February.

FATF recognizes Luxembourg's "substantial and continuing efforts" to "reinforce its judicial arsenal" and comply with recommendations developed for members.

More news at: http://www.lff.lu/finance/news/news-detail/article/les-efforts-du-luxembourg-ont-ete-honores-par-le-gafi/2/