breizh

[quote user="pachapapa"]Perhaps "mutti" realises that the problem is not a liquidity issue but a solvency issue. [/quote] Totally agree, but it's transformed into a liquidity issue, which is effecting the solvency of some nations. Particularly countries like France who have manically short maturity dates. Tail wagging the dog. Everything by the text book and never grasping oppurtunities. It's the "model". You can fly the plane into the hill, as long as you follow the model. (or "I was following orders"!) Ho Hum, that'll be Germanic.

Taking out the equation the Hausfrau's holier-than thou attitude (which coming from a country that has failed to meet the EUR criteria every year is a bit rich). Why won't the ECB print EUR1trillion and stop this mess in it's tracks. Meryn King said QE was 0.5-0.75% on UK inflation the rest was imported and VAT increase. That is not exactly Weimer Republic standards. BoE spent EUR 200billion. To date the ECB has done the same buying useless bonds from Greece, Ireland and Portugal. Someone should tell Merkel to grow some sphericals, face down Deitmann, and stop only thinking of her political skin. The world is rapidly going to hell in a handcart. Do something woman! Long meeting in Germany today. Rant over.

Hi Glacier We've found work for french nephews and neices in the Thames Valley area without any difficulty. In some cases unseen, or interviewed, with really poor English! Maybe in your case it will mean a compromise on position, but hopefully not for too long. I think it is difficult for British people to understand, just how bad the job situation is in France, and has been for over 10 years. The UK position now, is what it was like in the boom times in France! It is very, very sad. Just be grateful you haven't got a Maghrebi name, or skin!

The Landesbanken have been the playthings for the politicos pet projects for years, and they've been insolvent for years! Did you see this morning's BdF bond issue. 3.79%. Ouch. Double the UK/DE rates. About where Italy was 5-6 weeks ago. Bets on how long the Dwarf lasts?!!!!!

It is Liquidation Judiciare. The Court takes control of a company, and trades it, hoping to sell it as a going concern. All payments to staff, suppliers, etc are guaranteed by the Court for that period. All loan, mortgage, lease payments are stopped. Unusual it is so short. I've known them go on for years. They must be in a really, really bad state financially. A guess. Maybe, the fleet needs some serious money spent on it? Certainly it will be something the day to day trading revenues can't match.

[quote user="Quillan"]The Euro is simple and quick to use which is why the other night on News Night many Greeks and Italian business people were horrified at the possibility of going out of the Euro.[/quote] They will all be insolvent within a month!! Finance/Credit/loan/mortgage/lease, they are EUR dominated, and will remain in EUR. Local currency devalues by 60%. Repayments go up 150%. Imports from EZ go up 150%. No trade on credit account. No access to any form of new credit. SAP/Oracle/Sage/MS Dyanamics take 30 seconds each month to load forex rates. After that sales/purchasing/accounts/production is seamless. All corporate travel uses credit card these days. Not cash! It's NOT a holiday! The forex conversion is at market rate, and automatic. Anyway it won't happen. The ECB has turned on the printing presses. It had to. The market saw any EZ breakup as strengthening EUR, and started buying, having assumed breakup was a done deal. The Dwarf and the Hausfrau rather like the advantages the weak countries bring to the party. France runs a bigger external trade deficet than any other EU country (including UK). Imagine what would happen to French trade and jobs, if EUR appreciated 30-40%. Carnage!

Bank intervention is off balance sheet. It is a potential obligation, costed in your figures at a total 100% loss, even Greek debt is worth 29% of face value. No idea where the "savings" figure comes from, by definition that is unknown, and even it were, it's not some well to be drawn from by politicians. UK over 55s have net assets 9.4 times final earnings. Property, pensions, savings, cash, shares, etc. Would you endorse politicians taxing them? The standard ECB Debt method, gives UK debt as 68%, France 82%, Germany 84%, Italy 116%. It is a god given than all countries park future debt obligations off balance sheet, as they are unknowns. France goes one further, and parks Regional/Dept/Commune debt off balance sheet, and all infrastucture projects. Which is naughty, just the SNCF debt takes France over the 100% mark.

Guess the ECB bought them. It's about time Merkel stopped kowtowing to Kia Diekmann and the political posturing. Get the printing presses running. There is no Plan B. Too late. Attali thinks France has already lost it's AAA. http://www.challenges.fr/revue-de-presse/20111110.CHA6721/pour-attali-la-france-a-deja-perdu-sa-note-aaa.html

Standard churnalism by the DM. Straight CtrlC/CtrlV. I get nervous about these sort of stories, as 6 months down the line there is a 2 line retraction on page 22. Reading the story the "evidence" is hearsay from a 3rd party. It will be interesting when the "truth" comes out. My wife used to work with Mind when we lived in the Uk. It simply would not be possible for this sort of thing to happen. The charities and agencies actively look for these sort of cases, even to the point of overuling the wishes of the beneficiaries. You'd have to work very, very hard to ensure you slipped through the net.

I pay NI, and my social charges in France. The 5 year period during which you accrue UK benefit is now up, but I choose to pay. Compared to other countries it's very cheap, and I feel that I should contribute towards the pensions my parents and grandparents receive. My French pension will be next to nothing, dispite paying 1000s and 1000s. Oh to be a fonc.

[quote user="idun"]I am having difficulty with someone in the UK. I have found that they own a company in what I assume their own name. Then there is a variation of their own name as the only share holder. And then another name is in business. ie Marc Daley owns the company Marc Daly owns all the shares And Mark Daly is in business.   All  have different addresses. Mark Daly was living at a house owned by Marc Daley. Marc Daley registered to vote two years ago at another address he owned. And Mark Daly is using a address a few doors away from Marc Daley's property, owned by someone else and those owners are registered to vote at their address.   Now if you have got your head around that little lot, I really distrust this bloke, should I? And how legal is all this?   [/quote] Own a company? Bit vague. UK: If he is a sole trader, then there is no legal requirement that the address, names, or any other details displayed publically are correct. I would use D&B, or pay a trace agent 50quid, before I allow any sales, and not on credit. If it is a Ltd, then the Reg Office can be anywhere, the Directors' addresses do not have to be proven, and the shareholders addresses can be secret if they so wish. If it is PLC, then the Reg Office can be anywhere, the Directors' addresses do not have to be proven, and the shareholders addresses can be secret if they so wish. In the case of Ltd/PLC, they'd get a credit account up to EUR1million, depending on filed Accounts. Or a personal visit to assess Management Accounts and interview. New start up, cash only. No Personal Guarantees. If I have doubts, and Marketing really make a good case, I will instruct a trace agent, or PwC. Refusal to assist from trhe potential customer, is immediate cash only. However, bear in mind things are rarely as bad as they actually appear. The tatty little 1 room office over a chip shop in Rochdale, is actually the UK purchasing office for the Pakistan Army. I do USD 1.5billion per annum through it. I bet they pay 50quid a week rent for the office.

There was one bit which made me sit up and concentrate. When he was talking about TVA, he referred specifically to goods and services. Leaves the door open for TVA increases on food, energy, restaurants, building work, etc. Has been talked about in the French media. That would lead me to think that those stories were authorised by him, and after he's re-elected (dear dog, NO), TVA will be full rate on everything.

TF1 and TV2 20.15. The Dwarf will make a speech and will answer questions from a couple of hand picked journo mates, to explain that he has saved the EUR. Don't expect Paxman! As for whether the 3rd, or is the 4th, "final comprehensive package" will save the EUR I won't comment. Just to say, bad politicians do not make good economics. Just kicking the can down the street, hopefully til after Sarkel/Merkozy get their elections out the way.

[quote user="val douest"]Hi Chessie I had exactly the same problem as you are having when I first tried to order. I was using - or trying to use - a UK credit card but with delivery to France and the system just wouldn't have it. This was a couple of years ago and I am trying to remember how it was sorted out. I know I 'phoned customer services and I think the rather convoluted answer was something to do with my never having placed an order to the UK address (where the card was registered) before, so they were loathe to send stuff off to France (no, it didn't make sense to me either!). I think I ordered something fairly cheap and cheerful and had it sent to the UK address (where our daughter now lives) and then a week or so later I was able to have an order sent to France. But you shouldn't have to go through all that hoohah; there must be lots of people now setting up accounts in France with either UK credit cards or French ones. I suggest phoning customer services and asking to speak to someone for advice about setting up an account for delivery to France. I would also tell them about the unanswered e-mails. If you add an item to your basket, it tells you on the 'basket' page whether it is available for international delivery so you can check you are not trying to order things which can't be sent. Once you get into the system it seems to work quite well and their delivery charges are very reasonable. I was also able to have something sent to my son in California - more expensive than to Europe but much cheaper than normal parcel post. So it's worth persevering even though it's so frustrating. Good luck! Val PS If/when you manage it, it might be useful to post exactly how it's done! [/quote] It's an effort to stop "card holder not present" fraud. In this case somebody clones your card details, sets up an account, and uses the card details from another country. At least if there have been UK deliveries the supplier has made some effort to check the provenence of the details on the account. Otherwise, worse case scenario, your card is cloned, supplier delivers goods, credit card company clawback the payment, and the supplier is out of pocket. Standard scam. Very common in France. Though I doubt in this case a French address triggered the your suppliers system locks.

Sorry for the rant. It is very difficult to comprehend the differences between the 2 countries when it comes to news media. The shock in France is when a scandel does surface in the media. That means the Elysee has given it the green light, or they quickly get an friendly examinating magistrate on the job, and get it sub judice for the next 10 years.

[quote user="Benjamin"][quote user="cooperlola"]Whatever the motivation, to get young people fired up about politics is a good thing in my book - left or right (even though my personal sympathies are with the former.) [/quote] I don't follow French politics but I suspect there are as many dirty stories which, by agreement with the Press, are kept off any page as there are in UK politics. Have you asked any young people if they're interested in a bunch of greedy grasping leeches? I know what the answer is if you ask the question in England. [/quote] Multiply it by about 100, and you'll get close! The Govn subsidises the press what do you expect? The Editors went to the same Grandes Ecoles as the Ministers, what do you expect? The revolving door between Govn job and privat job, what do expect? However bad you think the situation is in the UK, you ain't seen nothin! Odd fact. The only truly independent (of the Govn) paper (Enchaine Canard) is the only one which makes a profit! Mitterand's parallel family, paid for by the Govn? Chirac's army of fictious employees? 300 Algerians killed in Paris by the police? No one ever knew in France. NB I like Hollande. He comes across as a good bureaucrat who will get things done without historonics.

I forget where I read it but it cost 4.5million to run the election, and they received 1million. The belief was that they wouldn't be doing it again.

There is an inherent weakness within EU banks, based on the total lack of trust. The politicial ducks are not all in a row. The markets are preying on the structural weakness in the original treaty. They are all in this together, the fastest can only move at the pace of the slowest. Greece is 2% of the EU debt. In itself, irrelevant. However, it is a merely a test case, before the markets move on Italy and France.....the Core. What will Germany do? Hence, my previous question. Stick with the EUR, is my professional guess. But, it's a guess! Despite what the DT/DM tells you. UK is THE strongest, financially in Europe. Many,times stronger than German or France, in it's borrowing capacity. I would give them anything, ANYTHING, to be in the EUR. That WILL save it, without tht, I remain making plans WTF we will do, if things carry on the current path. I want the EUR project to succeed. It has to. And please stop reading the DT, or DM, they are as bad as Bild ! Stick to the FT, Les Echos, or De Speigal.

You could ask Siemens. They pulled their FR deposits, and moved them to the UK, knowing this was going to happen. Or you could ask me, and I would give the same answer.

Your savings are 100% safe in any bank, be it EU/UK/US/JP, outside of OECD countries all bets are off. Absolutely 100% guaranteed. All governments learnt a lesson after Lehmans was NOT bailed out. Same as megacompanies Vodaphone/GE/Siemens/Shell/BP. Too big............? (Note: 3 out of 5 are British) It really is true that banks are too vital to be allowed to fail. 1 fails, they all fail. They will NEVER be allowed to happen again. (Sh*t, 3 years later the world is still f*cked up.). If the true global megabank (HSBC) got into trouble, it would be different, it would be a true global effort, but it would happen. I hope that is clear enough.

Generally considered the most sensible and clever of the German press. Interesting perspective,. I don't agree. EUR was borne from Mitterand & Kohl, and will only be intered by Merkel & Sarkozy. That WILL not happen, I hope not, otherwise I'm sacked. 20 years of 100% accuracy would let me bet I can keep 49000 people in a job. At least they accept that France and Germany are ultimately responsible for this mess. Worth 10 minutes. Apolitical, and academic. http://www.spiegel.de/international/europe/0,1518,790568,00.html

[quote user="Quillan"] One possible reason for the downward drop in Sterling against the Euro is the recent decision by the B of E to start QE2 and 'print' another £75bn to stave off a 'double dip' recession which according to the statement by the B of E after the recent review of interest rates. [/quote] Not strictly true. The BoE agreed to raise the funds available for further bond purchases by GBP75 billion. However, it does not automatically mean they will use those funds. There is a strange paradox though. When the ECB purchases bonds, currently thought to be around EUR 200billion, with a targetted fund of EUR 2trillion, when the EFSF arrives, no comment is made. Other than the fact that the British press have no interest in Europe, is there a difference? Sorry, having my Lunch 10 minutes, no time to check.

[quote user="pachapapa"] Recent posts on this thread suggest that ONLY me and Breizh have slight doubts about Bank Deposit Guarantees. But I see Moody's have now expressed a slight twinge of doubt as to whether the UK government would stand behind their banks if they got into difficulties. Read PLEASE the second paragraph of the link to reinforce your neuronal retention.[:)] http://www.bbc.co.uk/news/business-15211230 [/quote] No I don't believe the the Fonds is any position to guarantee anything like sufficient, however from a historical perspective(Credit Lyonnaise, Dexia) there is explicit guarantee from the Govn. France has a history of large bank collapses, and reacts the same everytime, and bails them out. Is that clear enough?[:D] George Osbourne has merely removed the explicit guarantee on UK banks, and replaced it with an implicit guarantee. That was what Moodys are reacting to, it was expected and factored into the share price, hence the small drops in prices. It is also notable that banks such as RBS have already written off 50%+ of their Euro-peripherique sovereign loans. They have already taken their medicine. German and French banks have't done that yet, that is a serious weakness in their capital. Effectively showing as an asset, something which isn't worth half what the bank says it is. The quicker the Dwarf and the Hausfrau face up to this the quicker normality will return. 2 year loans from the ECB is just another sticking plaster. The markets want the wound acknowledge and cauterised, amputated if necessary.

Saw it PPP. The only thing I hang on to is the absolute catastrophie IF the Bd'F didn't back up the Fonds. For foreigneurs and non-residents, I think they'd leave them hanging. On the plus side, the ECB have today guaranteed all banks absolute access to loans. No questions asked about liquidity or solvency. And French banks have been allowed to convert their toxic debt into loans, and convert at 100%. And the Brits worry about QE2! All's happy in EU-la-la-land................until next week!

Ignore last post. the missus thinks I'm being irrational.