Inflation at historical lows, with a -0.6% in July compared to -0.1% the previous month, combined with an increase in oil prices, with protectionism, with conditions of uncertainty and instability, but especially with a labor market in deep crisis in Europe have contributed to the decision of August 6 by the ECB (European Central Bank) to maintain stable rates. Currently, the refinancing rate on which loans are calculated variables BCE, and many current accounts and deposit remains unchanged at 1%. And ‘the highest rate in the world as both the Bank of England Federal Reserve that have rates close to zero. The problem however is that the economic recovery that seems very slow: in particular, Jean-Claude Trichet, ECB president, in his speech, stressed the risk of inflation tied to a necessary increase in direct and indirect taxation needed to pay for the whole a series of tasks in order to revive, indeed, the economy. Risk that is now offset by a lower demand for loans and mortgages (3.5% Europe-wide in June).
The FA ITALY ACCOUNTS WITH INFLATION
Inflation still very low even in Italy, with minimum 50 years, but with the risk of making a quick leap upwards in the next two years due to a heavy debt: this also of the opinion research center Citi. The Treasury this year, will require funding of up to 105 billion euros, 54 billion more than in 2008 and about 15 billion more than estimated by the Government in its DPEF (Documento di Programmazione Economica e Finanziaria). This is the highest growth of debt since 1997. A debt, remember, which is the highest in Europe. It is expected to achieve 6.2% of Gross Domestic Product (GDP) this year (more than 5.8% expected), while the same value will rise to 6.8% in 2010: the highest level since 1996 ! This will further increase the public debt. The GDP index in practice this sale of 115.2%, the highest since 1997. A deficiency combined with the high increase in GDP almost always causes a snowball effect. In the past, this pernicious combination was associated with inflation, which had limited the effects of real debt. As he also admitted Mario Draghi, Governor of the Bank of Italy, a debt eläviä is one of the most disastrous consequences of the financial crisis. It forecasts future remains bleak. While the government does not have a lot of room for maneuver given that taxation is already too high.
Meanwhile, the European Central Bank has sent out a press release on the consolidated of the Eurosystem as at 31 July. Two figures emerge strongly: the number of current accounts in European banks are poorer than 8.4 billion euros while the banknotes in circulation grew by 4.3 billion. Furthermore, a central bank sold gold dell’Eurosiststema by the fall in gold credits of 6 million.
POST CAPTURE CUSTOMERS WITH SIM
The majority – over 80% – of those who have left their phone company for the Poste Italiane (PosteMobile), which in July announced that they had exceeded one million sold sim, has also signed payment services included. In this way, a telephone service for the first time in Italy, has also increased the number of customer service e-mail and online banking. The sim phone Poste, in fact, allows you to pay by phone account bulletins, send telegrams, make transfers, transfer money to and from Postepay cards, check your balance and recharge your cell phone over to check the balance and the last three movements the current account or Postepay associated with the cell phone number. It is estimated, therefore, that Poste Italiane has secured more than 800 thousand customers, account holders and underwriters to PostePay that opens the whole world of financial services that provides BancoPosta from traditional bonds and postal savings to mortgages and loans in addition to funds and bonds.
Findomestic BACK FRENCH
The second company of consumer credit in Italy, Findomestic, established 25 years ago from Cetelem (now BNP Paribas Personal Finance) to extend the application of the model business owner in Italy, in partnership with CR Firenze, leaves the Group and Intesa Sanpaolo becomes 100% owned by the French group BNP Paribas, – through its wholly owned subsidiary BNP Paribas Personal – consolidated so that its integrated business model in Italy. Operational direction will remain in Florence. The agreement provides that the Intesa Sanpaolo Group divests its share of 50% in two stages ending in 2013. The value of the first tranche of 25% is equal to 500 million euros, while the value of the remaining share will be determined, within a minimum of 350 and a maximum of 650 million euros by applying to Findomestic a multiple of net assets found for a group of comparable companies. The positive impact for the Group Intesa Sanpaolo in the current year – resulting from the sale of the first tranche of 25% – Consolidated net income will be around 260 million euros and the Core Tier 1 ratio of around 13 basis points.
LA CASA AL MARE OR MOUNTS FOR BIG SALES
The Italian property market tourism has reported a fall in prices of 3.9% in the second half of 2008. The analysis for macro by Tecnocasa fact, outlines a scenario that sees the most significant decline in tourist areas of Centro (-5.1%). The regions that have reported the steepest decline in prices were the Abruzzo and Tuscany with -6%, followed soon after by Campania (-5.9%). Stable prices of Basilicata (where, however, are only variations of Policoro) and Calabria. Who looks for the second home is oriented mainly on apartments and small houses with sea view, garden or terrace, and possibly located near beaches and services. Among the most expensive tourist destinations include Varazze and Capri where touching top prices of respectively 13 thousand to 12 thousand square meters and euros per sqm. The average is much lower, around 2 thousand euros per sqm.
50 MILLION EURO FOR CREDIT TO SMEs
The European Investment Bank has made available to the Gruppo Banca Sella a credit line of EUR 50 million intended to finance projects and investments in small and medium-sized Italian companies. The initiative falls within the framework of the EIB has signed in May with Abi and Confindustria, the presence of the Minister of Economy Giulio Tremonti, to increase EIB loans to SMEs in Italy and for the research, development and ‘innovation. The loan, which may cover the entire cost of the project, may involve new works and works of renovation and modernization such as the acquisition, construction, expansion and renovation of buildings and the purchase of machinery, plant, equipment and vehicles, the costs, the charges and intangible assets closely linked to the investment program, including costs for research, development and innovation, the permanent increase in working capital necessary to expand the business as a result of investments made. Funding may be a fixed or variable, on better terms than the current market conditions.
CRISIS AND MORATORIUM: EVEN CARIPARMA FriulAdria AND HELPING FAMILIES AND BUSINESSES ON THE LAND
In March he launched Cariparma Sipuò (with special website cariparmasipuo.it), anti solutions for families, ranging from suspension of the share capital of loans made to the house of Great Mutual Cariparma with the opportunity to reduce the amount of the monthly installment ‘anticipated layoffs extraordinary protection in case of loss of work and loans. Now Cariparma – Crédit Agricole – has presented a new package of banking solutions dedicated to small-medium Italian companies in order to ensure a successful transition from the difficult economic situation. Interventions range from strengthening the financial structure and asset consolidation through a debt financing dedicated to the support of liquidity through cash advances to members of cooperatives. “With the definition in the coming months to further agreements and initiatives – said general manager Giampiero Maioli, Cariparma – the Bank will continue in the business support to confirm the strong and growing relationship with the economic fabric of the area.” Similarly to the parent Cariparma FriulAdria also has put up a package “anti” is intended to individuals, called “You Can FriulAdria. In detail, customer-owner loan “first home” FriulAdria proposes to suspend the payment of the share capital of the rate for one year, leaving the customer alone the burden of interest and therefore the amount of monthly installment. Still, in order to support families in monthly commitments that must be addressed, “FriulAdria You Can” offers, on favorable terms, the advance of pay, pension and CIGS respectively workers, workers in layoffs and retired workers . Finally, in order to alleviate the exits periodically weigh on household budgets, FriulAdria broadens its range of current account in proposing the new “No Cost More”, a convenient product that includes several free services and the same innovative because it allows you to zero fees in the presence of a particular stock.
CRIME FINANCIAL, CREDIT AND BANKING BUSINESS
Wear thrives where bank credit is higher. This shows a recent study by the Bank of Italy by Emilia Bonaccorsi di Patti entitled “Presence of crime and characteristics of bank loans (Weak institutions and credit availability: the impact of crime on bank loans).” The study analyzes the relationship between the characteristics of bank loans and local crime rates using a sample of over 300,000 relationships between banks and enterprises. The results show also that financial crime is increasing when the spread of collateral is higher and firms rely to a lesser extent the loans autoliquidanti, mainly advances on invoices, and more to loans in bank account. In practice, access to credit is adversely affected by crime. The crimes that have an impact on the credit market are those that increase the fragility of business (extortion and crimes associated with organized crime) and increase the expected loss on the probability of insolvency (fraud, fraudulent bankruptcy).
Meanwhile, continuing the difficult work of perhaps the order to stem the flow of wear: last in order of time the operation of the August 4 carabinieri del Commando provinciale di Cosenza alll’arresto which led to 12 people charged with aggravated by the wear Method Mafioso. Persons arrested was served with a custody order issued by GIP at the request of deputy prosecutor of Dda di Catanzaro, Vincent Luberto. During the investigation investigators have identified a group of people who lend money at rates moneylenders to farmers and traders. In addition, they were seized property – commercial, shares of companies, bank accounts and some properties – for 70 million euros are from the Guard GICO finance within the same transaction. According to the reconstructions of the Carabinieri, the wear re-arrested the capital cosca Silence of Cetraro. The turnover is enormous determined, as shown by the figures in excess of funding for each of those offenses, one million euros.
INTERNET IN 2020 LESS FREE CONTENT AND FREE
How will the Internet in 2020? Most international experts (77% of interviewed by Pew) agrees that the Internet will travel almost exclusively with the mobile, that is with the handset as mobile phones are now third generation iPhone in the head. What are mobile and very little computer in miniature. And it will always be more. The second question raised concerns the users, these are less intolerant towards pubblcità and foremost will be more inclined to pay for content? Here the debate is more heated: only 56% were unbalanced in believing that customers will, on the contrary, less tolerant, not only to advertising in general but to all. Indeed, be more critical, bigots, arrogant and even violent to terrorism. 32% think there will be rather more tolerant and allow a small percentage that depends on the content. Content will be the most important battle in the coming years: the majority argues that many will be content and other private pay only. In this way the Internet is free or impoverish doventerà very promotional. Half of the experts listened to consider one thing above all: that the time of labor and private sectors are increasingly fondernano together on the web. Something which in fact is already happening today. Fundamentally change the way you work. And live. As, finally, covers the technologies, the majority (78%) claimed to be the “semantic web” the element of development in the next ten years. But the other camp is labvoro security against terrorism and cyber-crime, the only company currently active in the world.
THE NETWORK OF Microcredit expands in ITALY
What will UniCredit Bank in conjunction with the Grameen Bank Yunus does not yet know practically nothing, but in the meantime to help finance and ethics in microcredit was Pope Benedict XVI in his Encyclical “Caritas in Veritate social. He also pointed out Mario Baccini, President of the Italian Committee for Microcredit, public corporation which enjoys the high patronage of President of the Republic, which has stressed words such as microcredit, microfinance, finance ethics, Csr, Non-profit Third Sector and Civil Economy “are all cited by the Pope that puts the focus of his encyclical the social market economy, pointing to an economic policy which is the opposite of unbridled liberalism that has caused disasters sociological, cultural and economic. The most important thing is that the protagonists of the old model can not be protagonsiti the new course. For Baccini, groped need to avoid a restatement of the same class as before. “Our mission,” said Baccini in an interview “is to act as regulator and giving the address. And, of course, promotion and training. We are focused on networking.”
BANK NEXT TO SLOW FOOD ON THE LAND MARKET
Next Bank, first European bank dedicated exclusively to the common good, which will complement Slow Food in the development of markets of the world, based on the direct sale of fruits, vegetables and foodstuffs of the territory by the producers. The initiative, tested in Italy since 2006, aims to create a system of solidarity between the markets for producers in order to support those who have overcome the difficulties during take-off and to implement those markets with the greatest potential for growth . To the framework is added to the sponsorship agreement, under which Intesa Sanpaolo is recognized as a main sponsor and official partner of the events promoted by Slow Food, with an exclusive product for the banking and financial sector.