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?