Daily Archives: October 3, 2012

Central Bank, Government, Parliament, Policy, Politics, Society

24.09.2012 Germany will not increase Eurozone rescue fund

According to the press service of the German Finance Ministry, it is unreal to increase the European Stability Mechanism (ESM) four times – from 500 billion to two trillion euros. This denial was a response to the article in Der Spiegel about the negotiations on this issue, and Germany has already spoken for the ESM increase.

Martin Kotthaus, the representative of the German Ministry of Finance in Brussels, said there were talks going on in Brussels about leveraging the capacity of the European Stability Mechanism (ESM) in the same way as its predecessor, the European Financial Stability Fund (EFSF). But, asked about a report in the German media, that the ESM’s capacity could be 4 times leveraged to 2 trillion euros through the intervention of the private sector, he said this was “illusory”. “It is not feasible to talk about figures at present,” Kotthaus told reporters. “It is purely abstract.”

ESM treaty was conceived as the euro zone’s permanent bailout fund and will enter into force if it is approved by the Member States representing 90% of eurozone capital subscription at the European Central Bank. The ESM was assumed to come into force on July 1, 2012. But the deadline was postponed due to delays in the ratification procedures in a number of euro zone countries, including Germany, where ESM was first acknowledged by the Constitutional Court.

In September 2012, the German Constitutional Court admitted that the ESM permanent euro-zone bailout fund and fiscal pact ESM European Union (EU) do not contradict the legislation of the country under certain conditions. The German Constitutional Court demanded that German liabilities within the mechanism not exceed 190 billion, without the approval of the lower house of the German parliament. In addition, both houses of the German parliament should be informed of the decisions taken in the ESM.

On September, 14, Eurogroup chair Jean-Claude Juncker announced that the ESM will be operational in October 2012 and will provide the first three tranches of the total 32 billion euros. According to Angel Gurría, Secretary-General of the Organization for Economic Cooperation and Development (OECD), Eurozone bailout funds need to be increased to at least €1 trillion as soon as possible. “Greece was the first and most urgent step. But the challenges remain daunting. We need to construct a stronger financial firewall. And this wall must be high, strong, and sufficient enough to deter speculations and must be undebatable in action “- said Angel Gurria.

At the same time, according to a financial advisor Dmitry Chernavski, the ESM increase does not solve the fundamental problems of the debt crisis in Eurozone. The debt crisis in Europe, said Dmitry Chernavski, is just a consequence of the countries with different levels of life and mentality integrating into European Union. “After the clearance of liquid asset the peripheral countries in Europe can no longer offer competitive products to the world market, thus reducing the trade deficit, they cannot create jobs and stabilize the budget”, – says Dmitry Chernavski.

Via EPR Network
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Congress, Congressperson, Election, Government, Voters

IL 1st Congressional District Cook County Voters Support Peloquin Suburban Preservation

The first election using the 1st Congressional Redistricted South Side of Chicago and their Southwest Suburbs extending into Will County has city voters crossing over to support the states suburban life style.

With 74% of the new district voters being from the original 1st district, many of original voters are pushing to preserve their weekend getaways in the suburbs and the continued expanse of the commuter train stations for their suburban and rural lifestyle.

City Folks are now realizing they’re far more dependent on their rural and suburban agriculture businesses and how city politics overlook the needs of the rural and suburban growth at their cost.

It’s a wake-up call for many in Cook County; with Will County positioned as one of the new “Agriculture Cross Roads Of America”, their grain export business offers significant growth in the emerging markets such as Viet Nam, Russia, and China, and that means more jobs, revenue for the state and lower costs for their districts agriculture needs.

This 1st Congressional Districts election is fast becoming the center stage for a nation, as Big City residents learn “Intermodal Growth” is the ticket to world competition, not a party ticket.

You simply cannot achieve Intermodal Growth for the agriculture business with the city politicians quest to keep the spend in the city at the expense of the state’s best opportunity to sustain and gain more jobs outside its original district. Here is a short video clip on Intermodal Job Growth.

As the 3rd largest city in the U.S., the voters are realizing they’re dismal job growth has been limited to their federally subsidized projects within the city versus rebuilding the city through better decisions on how to compete globally within the state.

A Win Win situation, without a solution for decades, it’s time for a change, and it starts with educating the people on how to best affect change, and why. There’s a need here, a need to turn things around before we lose the opportunity to reduce our state and nations overall deficit, which ultimately results in the loss of the federal funding we’ve grown to know as the way the City Politicians create more jobs.

The Don Peloquin Campaign for the 1st Congressional District supports growth through voter education. Many people are totally unaware that if Congress doesn’t pass the new Farm Bill, you may as well forget about the food stamp program with its $80 billion a year, or 80 percent of all spending in the $500 Billion Farm Bill. Our position is to grow globally with the best opportunities, and our suburbs and rural areas have the best potential of securing grants for jobs like the $6 million awarded to UW-Madison. That focuses on encouraging more farm-to-school programs like the Research, Education, Action and Policy Food Group’s farm-to-school program, which supplies area schools with fresh, locally produced fruits and vegetables. We need a well balanced spend to gain the maximum benefits for all.

The Time For Change Independent Voice:  Dedicated To Public Announcements That Affect Our Suburban and Rural Life. We simply state what’s before us from the eyes and ears of those affected.  Get Out And Vote For A Change, Visit www.peloquinforcongress.com and read for yourself.

Via EPR Network
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