Pubblicato in: Devoluzione socialismo

Svezia. Sfiduciato il Governo socialdemocratico Löfven.

Giuseppe Sandro Mela.

2021-06-24.

Svezia 001

«Kjell Stefan Löfven (Stoccolma, 21 luglio 1957) è un politico svedese, Primo ministro della Svezia dal 3 ottobre 2014, a seguito della vittoria alle elezioni legislative, e leader del Partito Socialdemocratico Svedese dal gennaio 2012.

….

Dopo le elezioni politiche del 2014, è stato nominato il 33esimo Primo ministro della Svezia, a capo di un governo di coalizione di minoranza con il Partito dei Verdi.

A seguito delle elezioni politiche del 2018, in cui il partito socialdemocratico ha perso consensi, dopo quattro mesi di transizione, ha formato, grazie al sostegno dei Verdi e all’astensione del Partito Liberale, del Partito di Centro e del Partito della Sinistra, un governo di minoranza» [Fonte]

* * * * * * * *

«Swedish PM Lofven ousted in parliament no-confidence vote»

«PM to decide whether to resign or call snap election»

«Vote called by anti-immigration Sweden Democrats»

«Left Party turned against govt over rent control easing»

«With parliament deadlocked, it is not clear to whom the speaker could turn to form a new administration, while opinion polls suggest the centre-left and centre-right blocs are evenly balanced, meaning an snap election might not bring clarity»

«It is the first time a Swedish prime minister has ever been ousted by a no-confidence motion put forward by the opposition.»

* * * * * * *

La Svezia soffre una parcellizzazione partitica che obbliga la formazione di coalizioni per ottenere una maggioranza numerica. Ma queste maggioranze raccolgono partiti con obiettivi contrastanti, fatto che porta ad avere governi fragili ed instabili.

E verosimilmente, anche nuove elezioni potrebbero non chiarire la situazione.

*


Swedish PM Lofven ousted in parliament no-confidence vote

Summary

– PM to decide whether to resign or call snap election

– Vote called by anti-immigration Sweden Democrats

– Left Party turned against govt over rent control easing

– Economic impact of political crisis seen limited

Stockholm, June 21 (Reuters) – Sweden’s parliament voted to oust Prime Minister Stefan Lofven in a no-confidence motion on Monday, giving the Social Democrat leader a week to either resign and hand the speaker the job of finding a new government, or call a snap election.

The nationalist Sweden Democrats had seized the chance to call the vote last week after the formerly communist Left Party withdrew its support for centre-left government over a plan to ease rent controls for new-build apartments. read more

Lofven’s shaky minority coalition with the Green Party has relied on support in parliament from two small centre-right parties and the Left Party since a tight election in 2018.

With parliament deadlocked, it is not clear to whom the speaker could turn to form a new administration, while opinion polls suggest the centre-left and centre-right blocs are evenly balanced, meaning an snap election might not bring clarity.

A new government – or a caretaker regime – would only sit until a general election scheduled for September next year. It is the first time a Swedish prime minister has ever been ousted by a no-confidence motion put forward by the opposition.

Pubblicato in: Regno Unito

Gran Bretagna. Vendite al dettaglio +9.1% su Febbraio20, prima inizio pandemia.

Giuseppe Sandro Mela.

2021-06-24.

British Office for National Statistics 001

L’Office of National Statistics, ha rilasciato il Report Retail sales, Great Britain: May 2021.

Nota Importante.

– Il Report è molto esteso, motivo per cui ne riporteremo solo alcuni brani.

* * * * * * *

«Main points

– Retail sales volumes were 9.1% higher than in February 2020 before the impact of the coronavirus (COVID-19) pandemic.

– Retail sales volumes declined by 1.4% between April and May 2021 following a sharp increase in April when retail restrictions were eased; despite the monthly decline, over April and May combined, average total retail sales volumes were still 7.7% higher than in March 2021, and were 9.1% higher than in February 2020 before the impact of the coronavirus (COVID-19) pandemic.

– The largest contribution to the monthly decline in May 2021 came from food stores where sales volumes fell by 5.7%; anecdotal evidence suggests the easing of hospitality restrictions had had an impact on sales as people returned to eating and drinking at locations such as restaurants and bars.

– Non-food stores reported a 2.3% increase in monthly sales volumes in May 2021 with household goods stores (for example, hardware and furniture stores) and “other” non-food stores reporting the largest growth of 9.0% and 7.7% respectively.

– The large increase in sales volumes in April, followed by a relatively small fall in May, has resulted in the volume of sales for the three months to May 2021 being 8.3% higher than in the previous three months; there was strong growth in automotive fuel sales and non-food retailers of 19.3% and 17.8% respectively.

– The proportion of retail sales conducted online remains substantially higher than before the pandemic, but in May all retail sectors, with the exception of food stores, reported a fall in their proportions of online sales as consumers returned to physical stores; the total proportion of sales online decreased to 28.5% in May 2021, down from 29.8% in April 2021.

– In comparison with February 2020, the value of total online retail sales in May 2021 was 58.8% higher, whereas in-store sales were 1.3% lower.

– Retail sales volumes in May 2021 were 24.6% higher than in May 2020, which was affected by the first national lockdown when the tightest restrictions were in place; however, these growth rates are distorted by base effects and are not a reliable guide.»

* * * * * * *


«Retail sales in the United Kingdom declined by 1.4 percent from a month earlier in May 2021, following a 9.2 percent increase in April when retail coronavirus-induced restrictions were eased and missing market expectations of a 1.6 percent advance. Receipts at food stores fell 5.7 percent, as the easing of hospitality restrictions had an impact on sales as people returned to eating and drinking at locations such as restaurants and bars; and on-line trade dropped by 4.2 percent, following the reopening of non-essential retail. On the other hand, non-food stores reported a 2.3 percent rise, with household goods stores, such as hardware and furniture stores, and “other” non-food stores reporting the largest growth of 9.0 percent and 7.7 percent, respectively. Automotive fuel sales increased by 6.2 percent, as people continued to increase their amount of travel. Still, total retail sales were up 9.1 percent when compared with their pre-pandemic February 2020 levels.»

Pubblicato in: Banche Centrali, Commercio, Materie Prime

Giappone. Maggio21. Exports +49.6%, Imports +27.9, Balance -187,147 milioni di Yen.

Giuseppe Sandro Mela.

2021-06-23.

2021-06-18__ Japan Import Export 002

Il Ministry of Finance ha rilasciato il Report Trade Statistics of Japan May 2021 (Provisional) (PDF file).

Contents

Total

Value of Exports and Imports by Area ( Country )

Exports by Principal Commodity ( World )

Imports by Principal Commodity ( World )

Exports by Principal Commodity by (Country) ( USA )

Exports by Principal Commodity by (Country) ( EU )

Exports by Principal Commodity by (Country) ( ASIA )

Exports by Principal Commodity by (Country) ( CHINA )

Exports by Principal Commodity by (Country) ( R KOREA )

Exports by Principal Commodity by (Country) ( ASEAN )

Exports by Principal Commodity by (Country) ( MIDDLE EAST )

Exports by Principal Commodity by (Country) ( RUSSIA )

Imports by Principal Commodity by (Country) ( USA )

Imports by Principal Commodity by (Country) ( EU )

Imports by Principal Commodity by (Country) ( ASIA )

Imports by Principal Commodity by (Country) ( CHINA )

Imports by Principal Commodity by (Country) ( R KOREA )

Imports by Principal Commodity by (Country) ( ASEAN )

Imports by Principal Commodity by (Country) ( MIDDLE EAST )

Imports by Principal Commodity by (Country) ( RUSSIA )

Indexes of Trade

Indexes of Trade ( WORLD )

Indexes of Trade ( USA )

Indexes of Trade ( EU )

Indexes of Trade ( ASIA )

Indexes of Trade ( CHINA )

* * * * * * *

A maggio l’Exports ammonta a 6,261,276 milioni di Yen (+49.6%), mentre l’Imports vale 6,448,423 milioni di Yen (+27.9%).

* * * * * * *

Per quanto  riguarda le esportazioni, l’Asia ne assorbe il 58.11% e la Cina il 22.24%; gli Stati Uniti il 17.64% e la Unione Europea il 9.85%.

Pubblicato in: Devoluzione socialismo, Finanza e Sistema Bancario

Asia. Maggio21. Investimenti Esteri in Bond in valuta locale.

Giuseppe Sandro Mela.

2021-06-23.

2021-06-15___ Asia Investimenti Esteri 001

«Foreigners were net buyers of Asian bonds in May»

«last month, however, the net purchases in Asian bonds were the lowest in four months»

«Overseas investors bought a net $4.7 billion worth of Asian bonds last month»

«Foreigners purchased a net $5 billion worth of South Korean bonds, marking a fifth straight month of inflows»

«Because of South Korea’s strong growth recovery and shorter timeline to policy lift-off, 10Y Korean bond yields have been trading at historically wide spreads to U.S. Treasuries and other peer EM low-yielders»

«Malaysian bonds also attracted $453 million worth of foreign money»

«Indonesia and Indian bonds faced outflows worth $501 million and $237 million»

2021-06-15___ Asia Investimenti Esteri 002

* * * * * * *


 

Foreign investors buy Asian bonds in May as U.S. yields drop.

Foreigners were net buyers of Asian bonds in May, helped by a drop in U.S. bond yields and a recovery in the region’s economic activity.

The bond inflows were in contrast to the outflows experienced by regional equity markets last month, however, the net purchases in Asian bonds were the lowest in four months due to worries over a resurgence of regional coronavirus cases.

Overseas investors bought a net $4.7 billion worth of Asian bonds last month, the lowest since January this year, data from regulatory authorities and bond market associations showed.

Foreigners purchased a net $5 billion worth of South Korean bonds, marking a fifth straight month of inflows. That pushed the holdings of overseas investors in South Korean bonds to 8.3% at the end of May, the highest since at least 2014.

“Because of South Korea’s strong growth recovery and shorter timeline to policy lift-off, 10Y Korean bond yields have been trading at historically wide spreads to U.S. Treasuries and other peer EM low-yielders,” said Duncan Tan, a strategist at DBS Bank.

“Even on an FX-hedged basis, Korean bonds also continue to offer consistently high pick-ups over U.S. Treasuries.”

Malaysian bonds also attracted $453 million worth of foreign money, which was the 13th consecutive inflow.

On the other hand, Indonesia and Indian bonds faced outflows worth $501 million and $237 million, respectively.

Jennifer Kusuma, Asia rates strategist at ANZ, said she sees more room for foreign investor flows into the region, facilitated by improving global risk sentiment and as vaccination drives gather pace in a number of economies in Asia.

“For the region, the improved performance of Chinese asset markets may also develop into a fresh driver of strength. We expect better buying interest for LCY (local currency) bonds near term,” she said.

Pubblicato in: Devoluzione socialismo, Stati Uniti

Usa. Inflazione e la censura dei liberal democratici tramite FB.

Giuseppe Sandro Mela.

2021-06-23.

2021-06-23__ Usa Inflazione FB 001

Che negli Stati Uniti sia in atto una ripresa del processo inflazionistico dovrebbe essere cosa nota, visto che financo la Fed ne ha dovuto prendere atto. Ma al governo c’è la Harris-Biden Administration, che inietta nel sistema sempre più denaro fiat.

A soldoni, il termine inflazione significa aumento dei prezzi.

Questo non stupisce di certo.

L’Indice dei principali prezzi di produzione, PPI, è il 4.8% e l’Indice dei Prezzi al Consumo, CPI è il 5.0%.

* * *

Ma i liberal democratici sono idiosincrasici alla verità, ed FB, loro fedele scudiero e sodale, è subito intervenuta.

I loro “fact checkers” sono visibilmente indipendenti.

Ah! Come si rimpiangono i bei tempi della censura nella passata Unione Sovietica: lì almeno i censori erano intelligenti.

Questo era il post originale.

2021-06-23__ Usa Inflazione FB 002

Questo invece è il post “emendato”.

2021-06-23__ Usa Inflazione FB 003

2021-06-22__ Fact Checkers 001

Pubblicato in: Amministrazione, Devoluzione socialismo

Italia. Mancano i decreti attuativi per 500 su 969 leggi, che sono quindi inapplicabili.

Giuseppe Sandro Mela.

2021-06-22.

Draghi 013

Italia. Governo di provvedimenti inapplicabili per carenza di decreti attuativi.

«Dopo il lavoro del parlamento, l’implementazione di una legge passa nelle mani di ministeri e agenzie pubbliche»

«Un secondo tempo delle leggi spesso ignorato, ma che lascia molte norme incomplete»

«Il processo legislativo in Italia è complesso e lungo, e coinvolge numerosi attori. Comunemente si pensa solo al parlamento»

«Qui le proposte di legge, e il tanto lavoro in aula e nelle commissioni, contribuiscono in maniera imprescindibile alla formazione delle norme che regolano la vita nel nostro paese»

«Ma si tratta solo di una prima parte dell’iter, che possiamo definire “il primo tempo” delle leggi»

«Dopo l’attività di parlamento e governo comincia infatti un secondo tempo, altrettanto importante, ma più lungo e complesso»

«Spesso infatti aspetti pratici, burocratici e tecnici necessari per applicare e implementare le leggi sono affidati ad altri soggetti istituzionali, principalmente i ministeri»

«Questi si devono occupare dei cosiddetti decreti attuativi, provvedimenti necessari per completare gli effetti della norma stessa»

* * * * * * *

Questo è un dramma della nostra mostruosa complicatezza burocratica.

«Su 969 leggi emanate dai due governi Conte e dall’esecutivo Draghi, ben 500 restano ancora in attesa della loro applicazione definitiva»

«Il tasso di attuazione delle norme, spiega Il Sole, supera solo di poco il 50%»

«Dei 245 totali del governo Conte I, ne sono stati adottati 170, mentre dei 610 del governo Conte bis ne sono stati adottati 312, scrive il Sole 24 Ore»

«Si è ancora in attesa di decreti attuativi del governo Draghi»

«Molti provvedimenti economici restano così per ora solo sulla carta, con la loro applicazione che viene appunto rimandata a quando finalmente arriveranno i decreti attuativi»

* * * * * * *

Questa Italia è irredimibile senza che si smantellino codeste arcaiche forme burocratiche.

*

Governo, mancano 500 decreti attuativi su 969. I ritardi dell’iter legislativo.

Su 969 leggi emanate dai due governi Conte e dall’esecutivo Draghi, ben 500 restano ancora in attesa della loro applicazione definitiva.

Dal governo Conte uno al governo Draghi, passando per il Conte bis, si sono accumulati ritardi su 500 decreti attuativi, oltre la metà delle 969 norme che prevedono appunto la delibera di un decreto attuativo per vedersi concluso l’iter legislativo. Il tasso di attuazione delle norme, spiega Il Sole, supera solo di poco il 50%.

                         Decreti attuativi, i ritardi di Conte I, Conte II e Draghi

Un ritardo pesante. Dei 245 totali del governo Conte I, ne sono stati adottati 170, mentre dei 610 del governo Conte bis ne sono stati adottati 312, scrive il Sole 24 Ore. Si è ancora in attesa di decreti attuativi del governo Draghi, anche a causa delle lentezze provocate dal Covid.

                         Provvedimenti economici restano solo sulla carta

Molti provvedimenti economici restano così per ora solo sulla carta, con la loro applicazione che viene appunto rimandata a quando finalmente arriveranno i decreti attuativi. Un tema fondamentale, tanto che il ministro dello Sviluppo economico, Giancarlo Giorgetti, si muove in tal senso.

                         Il Mise ha fretta: “Predisporre schema decreti attuativi sul Dl-Sostegni bis”

Per “rendere al piu’ presto operativo” lo stanziamento di 100 milioni di euro per le attivita’ economiche destinatarie di specifiche misure per prolungarne la chiusura a causa dell’emergenza Covid e’ “l’obiettivo prioritario” del Mise, pertanto “benche’ il decreto-legge sia tutt’ora in fase di conversione, gli uffici tecnici del ministero dello Sviluppo economico, su mio impulso, si sono gia’ adoperati per la predisposizione dello schema di decreto attuativo”, ha detto Giorgetti in un question time alla Camera.

Pubblicato in: Agricoltura, Devoluzione socialismo, Unione Europea

Germania furibonda con Timmermans per la sua proposta di riforma agricola. Troppo green.

Giuseppe Sandro Mela.

2021-06-22.

2021-06-19__ Filetto Etichetta 001

«too much green ambition too quickly could bankrupt their farmers»

2021-06-19__ Filetto Etichetta 002

*

2021-06-19__ Filetto Etichetta 003

«Germany slams Timmermans over farm reform. …. Green Deal chief accused of ‘jeopardising confidence’ in the European Commission»

«Germany’s Agriculture Minister Julia Klöckner on Tuesday directly accused the EU’s Green Deal chief Frans Timmermans of damaging the credibility of the European Commission through his role in negotiations on the next Common Agricultural Policy»

«The Commission has been pushing countries to adopt a greener stance on the EU’s giant farm policy, but farm ministers pushed back hard arguing too much green ambition too quickly could bankrupt their farmers»

«Countries’ refusal to meet the higher green demands coming from Timmermans and the European Parliament last month led to a break-up in talks»

«All ministers, regardless of which party or country they come from, have the impression that Commissioner Timmermans’ behavior is jeopardising confidence in the Commission in its function as an honest broker»

«Germany’s powerful farm chief Klöckner brokered a common CAP position between all EU countries last October but she and her fellow ministers ended up offering Parliament a deal that was actually less green in some crucial aspects during the negotiations in May, tanking the talks»

«The German statement said Commission officials have “repeatedly burdened” the final phase of the talks with new legislative proposals which lack a legal basis»

«Timmermans finds himself between a rock and a hard place on agricultural policy, having already been heavily criticized by climate activists»

«Her Spanish counterpart Luis Planas has also been vocal in accusing the Commission of disrupting the negotiations by overly favoring the European Parliament’s negotiating position»

* * * * * * *

Germania. Maggio21. Prezzi all’ingrosso +9.7% anno su anno.

Il cuore del problema è racchiuso in questa frase:

«too much green ambition too quickly could bankrupt their farmers»

I prezzi all’ingrosso stanno aumentando significativamente in Europa ed in Germania.

Per quanto poi riguarda la agricoltura, aumentare ancora le leggi e normative che già la coerciscono significherebbe imporre oneri non sostenibili, impossibili da attuare ed ancor meno da trasferire poi sui prezzi al consumo.

Già adesso il consumatore paga in media tra gli otto ed i dieci euro per un chilo di ciliege, con punte che arrivano ai sessantanove. Ma un kg di ciliege basta appena per una famiglia di quattro persone. Sarebbero ben poche le famiglie che potrebbero permettersi di mangiarle tutti i giorni: a dieci euro al chilo, sarebbero trecento euro spesi solo per la frutta.

È un gran brutto segno prognostico quando governanti sofferenti di pensieri coatti perdano in modo così vistoso il contatto con la realtà dei fatti.

Un branco di lupi non tollererebbe mai di essere guidato da un capobranco di tal fatta.

*

Germany slams Timmermans over farm reform.

Green Deal chief accused of ‘jeopardising confidence’ in the European Commission.

Germany’s Agriculture Minister Julia Klöckner on Tuesday directly accused the EU’s Green Deal chief Frans Timmermans of damaging the credibility of the European Commission through his role in negotiations on the next Common Agricultural Policy.

The Commission has been pushing countries to adopt a greener stance on the EU’s giant farm policy, but farm ministers pushed back hard arguing too much green ambition too quickly could bankrupt their farmers. Countries’ refusal to meet the higher green demands coming from Timmermans and the European Parliament last month led to a break-up in talks.

“All ministers, regardless of which party or country they come from, have the impression that Commissioner Timmermans’ behavior is jeopardising confidence in the Commission in its function as an honest broker,” she wrote in a statement released Tuesday by the German agriculture ministry after two days of talks in Lisbon aiming to get a deal back on track.

An EU official retorted: “It’s hard to broker any agreement when one of the parties is backpedaling on their own position. Lashing out against the Commission, who is putting actual compromises on the table, seems a bit irrelevant at that stage. But we’re happy to discuss it over lunch.”

Germany’s powerful farm chief Klöckner brokered a common CAP position between all EU countries last October but she and her fellow ministers ended up offering Parliament a deal that was actually less green in some crucial aspects during the negotiations in May, tanking the talks.

Klöckner wrote: “We agree that it would be good if the Commission respected the Council and Parliament in their role as legislators. Her strongly-worded statement did not name-check EU farm chief Janusz Wojciechowski, despite the fact the Pole was the only EU commissioner present for the off-record ministerial talks in Portugal this week.

The German statement said Commission officials have “repeatedly burdened” the final phase of the talks with new legislative proposals which lack a legal basis. MEPs have also accused the Council of the same last-minute tactics.

Timmermans finds himself between a rock and a hard place on agricultural policy, having already been heavily criticized by climate activists such as Greta Thunberg for not being strong enough on driving through a greener transition for the heavily-emitting sector.

POLITICO has reported he gave Portugal’s farming minister Maria do Céu Antunes a “10-minute scolding” behind closed doors about the EU Council’s low green ambition as the last round of negotiations collapsed.

Klöckner said EU countries are all ready to reach an agreement with MEPs through the Portuguese presidency during a so-called super trilogue next week. Her statement suggested that the Commission’s negotiating strategy was possibly the only factor that could now block a deal on the CAP by the end of the month.

Her Spanish counterpart Luis Planas has also been vocal in accusing the Commission of disrupting the negotiations by overly favoring the European Parliament’s negotiating position.

Pubblicato in: Banche Centrali, Devoluzione socialismo, Stati Uniti

Usa. Buffett Indicator, as of June 17, is 232%.

Giuseppe Sandro Mela.

2021-06-21.

2021-06-21__ Buffett Indicator 001

The Buffett Indicator is the ratio of total US stock market valuation to GDP. Named after Warren Buffett, who called the ratio “the best single measure of where valuations stand at any given moment”. (Buffett has since walked back those comments, hesitating to endorse any single measure as either comprehensive or consistent over time, but this ratio remains credited to his name). To calculate the ratio, we need to get data for both metrics: Total Market Value and GDP.

                         Total Market Value

The most common measurement of the aggregate value of the US stock market is the Wilshire 5000. This is available directly from Wilshire (links to all data sources below), with monthly data starting in 1971, and daily measures beginning in 1980. The Wilshire index was created such that a 1-point increase in the index corresponds to a $1 billion increase in US market cap. Per Wilshire, that 1:1 ratio has drifted, and as of Dec 2013 a 1-point increase in the index corresponded to a $1.15 billion dollar increase. We adjust the data back to inception (and projected going forward) on a straight-line basis to compensate for this drift. For example, the Sep 2020 Wilshire Index of 35,807 corresponds to a total real market cap value of $42.27T USD.

For data prior to 1970 (where Wilshire data is not available) we use the Z.1 Financial Account – Nonfinancial corporate business; corporate equities; liability, Level, published by the Federal Reserve, which provides a quarterly estimate of total market value back to 1945. In order to integrate the datasets, we index the Z.1 data to match up to the 1970 Wilshire starting point.

Combined, these data make our Composite US Stock Market Value data series, shown below. Our current estimate of composite US stock market value is $52.5T.

                         GDP.

The Gross Domestic Product (GDP) represents the total production of the US economy. This is measured quarterly by the US Government’s Bureau of Economic Analysis. The GDP is a static measurement of prior economic activity – it does not forecast the future or include any expectation or valuation of future economic activity or economic growth. The GDP is calculated and published quarterly, several months in arrears, such that by the time the data is published it is several months old. In order to provide updated data for the most recent quarter we use the most recent GDPNow estimate published by the Federal Reserve Bank of Atlanta. Based on this, our current estimate of (annualized) GDP is $22.6T. A historical chart of GDP is shown below.

                         The Ratio of the Two.

Given that the stock market value represents expectations of future economic activity, and the GDP is a measure of most recent actual economic activity, the ratio of these two data series represents expected future returns relative to current performance. This is similar in nature to how we think about the PE ratio of a particular stock. It stands to reason that this ratio would remain relatively stable over time, and increase slowly as technology allows for the same labor and capital to be used ever more efficiently.

Pubblicato in: Devoluzione socialismo, Diplomazia, Geopolitica Europea

Belarus. Dopo Cipro, Austria blocca le sanzioni EU sulle banche.

Giuseppe Sandro Mela.

2021-06-21.

Belarus Bielorussia 001

L’Unione Europea ha raggiunto alla fine un accordo.

«- Sanctions to hit potash, oil and finance

– Tougher measures follow blacklisting of individuals

 Lukashenko so far impervious to foreign pressure

The European Union is set to ban new loans to Belarus after reaching a deal on Friday for economic sanctions on Minsk as punishment for forcing down a flight to arrest a journalist, the Austrian foreign ministry and three diplomats said.» [Reuters. 2021-06-19]

* * * * * * *


«Austria has been blocking new EU sanctions on loans to Belarusian banks so that Austrian lenders can keep making money with the oppressive regime there»

«Austrian diplomats upheld their objections in the latest round of talks in the EU Council in Brussels on Thursday (17 June)»

«They [the Austrians] want to water down the language to such an extent that the banking sanctions have almost no real impact»

«It’s a clear case of putting financial interests before principles»

«Austria advocates, in this respect, a ban on securities trading and money-market instruments, which would represent a drastic measure»

«It is of high importance for Austria that financial sanctions do not target the population of Belarus»

«It is in our common interest that Belarus is not pushed even further into the sphere of influence of Russia»

«Europe is preparing to blacklist another 78 Belarusian regime cronies and eight regime-linked firms next week»

«Whatever Austrian diplomats say, Austrian banks have, in any case, been keen to profit from Belarus’ misery»

«Austrian banks are now responsible for some 90 percent of interbank loans in Belarus»

«Austria’s Raiffeisen Bank, for instance, even has a Belarusian subsidiary, called Priorbank, which also loans money directly to regime-owned enterprises»

«the head of Belarus’ top oil firm, Belarusneft CEO Alexander Lyakov, sits on Priorbank’s board ….  »

«They [Raiffeisen] are the shit-flushers in the world of banks. They dive in shit for gold»

* * * * * * *

Unione Europea. Cipro blocca le sanzioni europarlamentari alla Bielorussia.

Unione Europea in coma. Cipro blocca nuovamente le sanzioni alla Bielorussia.

Bielorussia. Kolesnikova. Le fake news non arrivano da quel posto.

Belarus. Punto della situazione. I tempi sono mutati. – Cnn.

The brazen arrest of a Belarusian activist has terrified dissidents all over the world

*


Cerchiamo di ragionare, nei limiti del possibile.

«It is of high importance for Austria that financial sanctions do not target the population of Belarus»

È comune sentire che gli austriaci siano dei filantropi disinteressati, i quali hanno a cuore esclusivamente il benessere  del popolo bielorusso.

Esattamente come tutti sanno la loro incondizionata adesione all’Europa, per cui non vogliono spingere il Belarus nelle braccia della Russia.

Ma! C’è sempre un ‘ma’ usato nel più britannico senso.

«Austrian banks are now responsible for some 90 percent of interbank loans in Belarus»

«Austria’s Raiffeisen Bank, for instance, has a Belarusian subsidiary, called Priorbank»

«the head of Belarus’ top oil firm, Belarusneft CEO Alexander Lyakov, sits on Priorbank’s board ….  »

La conclusione sarebbe invero semplice.

«It’s a clear case of putting financial interests before principles»

«They [Raiffeisen] are the shit-flushers in the world of banks. They dive in shit for gold»

*

Le grandi affermazioni filantropiche e l’invocazione degli ‘human right’ mimetizzano solitamente sordidi affari.

*


Austria blocking EU sanctions on Belarus banks

Austria has been blocking new EU sanctions on loans to Belarusian banks so that Austrian lenders can keep making money with the oppressive regime there.

Austrian diplomats upheld their objections in the latest round of talks in the EU Council in Brussels on Thursday (17 June).

“They [the Austrians] want to water down the language to such an extent that the banking sanctions have almost no real impact,” a diplomat from another EU country told EUobserver.

“It’s a clear case of putting financial interests before principles,” a second diplomat added.

“It’s 26 [member states] against one, so I think they’ll have to capitulate in the end,” a third EU source said.

When asked about the case by press in Brussels on Thursday, the Austrian finance minister, Gernot Blümel, claimed to know nothing about it.

But the Austrian foreign ministry did issue a statement to this website.

“Sanctions should also cover the financial sector. Austria advocates, in this respect, a ban on securities trading and money-market instruments, which would represent a drastic measure,” it said.

“It is of high importance for Austria that financial sanctions do not target the population of Belarus,” it added.

“It is in our common interest that Belarus is not pushed even further into the sphere of influence of Russia,” it said.

The new economic sanctions are also going to hit Belarus’ oil, fertiliser, and cigarette industries and are meant to be ready before the EU institutions’ summer recess.

They are likely to be mirrored by Canada, the UK, and the US, which are in close talks with the EU.

And Europe is preparing to blacklist another 78 Belarusian regime cronies and eight regime-linked firms next week.

The moves come after Belarus hijacked a passenger plane flying from Greece to Lithuania to kidnap an opposition activist.

But they are also a reaction to wider brutality, including torture of political prisoners, which Belarus president Aleksander Lukashenko unleashed after rigged elections last August.

Meanwhile, Austria’s line – about the welfare of Belarusian people and pushing Belarus toward Russia – were described as typical canards by one of the EU sources.

“It’s impossible to impose any economic sanctions without causing some job losses and it’s Lukashenko, not the EU, who is moving his country closer to Russia by his actions,” the source said.

Whatever Austrian diplomats say, Austrian banks have, in any case, been keen to profit from Belarus’ misery.

Even as banks from other EU states began to voluntarily pull out of the Belarusian market last year, Austrian ones increased their share, sources said.

Austrian banks are now responsible for some 90 percent of interbank loans in Belarus, two EU sources told this website.

Austria’s Raiffeisen Bank, for instance, even has a Belarusian subsidiary, called Priorbank, which also loans money directly to regime-owned enterprises.

When asked if it was worried about its reputation, a Raiffeisen spokeswoman told EUobserver: “We are very concerned about the developments in the country [Belarus] and hope for a peaceful solution”.

“If the EU takes further measures, we hope that they are targeted and don’t harm private companies and worsen the economic situation of the civilian population,” she added.

When asked if Raiffeisen had been in contact with the Austrian government on Belarus sanctions, she also said: “Like any other international company of our size, we regularly communicate with the government”.

But the bank is, in any case, very friendly with Austria’s ruling ÖVP party, amid an ongoing investigation by Austrian prosecutors into allegations of improper party funding.

And it is equally friendly with Lukashenko, given that the head of Belarus’ top oil firm, Belarusneft CEO Alexander Lyakov, sits on Priorbank’s board, in just one of several personal connections to the regime.

And for all its “concern” for a “peaceful solution” to the Belarus crisis, Raiffeisen is despised by the opposition there.

“They [Raiffeisen] are the shit-flushers in the world of banks. They dive in shit for gold,” one Belarusian opposition leader, who asked not to be named for the sake of his personal safety, told EUobserver.