Articles

 
The Cypriot crisis has enthroned Germany has the leading European country. European economics are likely to be German driven from now on. Thus, fiscal profligacy or faulty business models are considered to have caused the recent crisis and the German cure to this is clear: austerity and structural reforms must be enforced. Cyprus was first on the list.
 

6 lines against 20! In Germany, the gross salary is taxed by only few contributions (tax on salaries, solidarity, pension fee, Church). It was understood that flexibility is much more efficient with a fiscal and regulatory simplification. 


In France, it is the exact opposite. The French pay slip is full of unreadable information related to taxes, deductions, tax credits, contributions, fees, compensations, etc. Thus, the pay slip is hard to understand.  And as a matter of fact, French workers hardly know how much they really get.
 
To know about the differences between Germany and France, please read the IREF article "France - Allemagne : les différences économiques"

This 3rd newsletter, written by Kevin Dowd and Gordon Kerr with Enrico Colombatto, is pointing out the auterity consensus tested as the Irish liquidation of Irish Bank Resolution Company, anayzing also further Collapses, Poor Results and Regulatory Arbitrage in banking.

If an agreement could not be found with the previous Cyprus communist-led government, negotiations resumed intensively between the Troika of European Union, International Monetary Fund and the European Central Bank and the newly elected President Nicos Anastasiades. The Euro zone is again at stake: Cyprus’ bailout would amount to 17 billion euros, equal to Cyprus’ annual economic output. But would it be able to repay?
 

President François Hollande visiting a training center

The “Personal Professional Training Account” is one of the most interesting measures taken in the reform of the professional training sector announced by President François Hollande on March 4th in Blois, France. It is the first time that the “voucher principle” would be applied for the use of public money by workers. Yet, the way the measure is to be implemented may not be satisfactory to allow a real free choice.