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February 15, 2014

Italy: Matteo Renzi tipped to be new Italy PM as Letta quits

Matteo Renzi (39) tipped as new Italian PM
Italy is looking for a new prime minister again after Enrico Letta’s resignation was accepted by President Giorgio Napolitano.

Letta drove himself to the presidential residence, the Quirinale in Rome – amid yet more political turmoil in the country.

Letta announced on Thursday that he would stand down after a meeting of his centre-left Democratic Party (PD) voted in favour of changing the government.

The man expected to take over as prime minister is the new party leader Matteo Renzi, 39. He could be named premier as soon as this weekend, and would be the country’s youngest-ever leader.

The president is now beginning meetings with political parties to find a solution to the leadership crisis and pave the way for a new government.

There has been growing criticism over the slow pace of economic reform in Italy which left Letta increasingly isolated.

A low-key moderate, he was appointed in April last year to lead the cross-party coalition patched together after deadlocked elections had brought weeks of fruitless wrangling between rival parties.

Letta did not attend Thursday’s party meeting, which was brought forward from next week.

Read more: Matteo Renzi tipped to be new Italy PM as Letta quits | euronews, world news

Stock Markets Warning: Stocks Will Plunge by 50% this year

t is only a matter of time before the stock market plunges by 50% or more, according to several reputable experts.

“We have no right to be surprised by a severe and imminent stock market crash,” explains Mark Spitznagel, a hedge fund manager who is notorious for his hugely profitable billion-dollar bet on the 2008 crisis. “In fact, we must absolutely expect it."

Unfortunately Spitznagel isn’t alone.

“We are in a gigantic financial asset bubble,” warns Swiss adviser and fund manager Marc Faber. “It could burst any day.”

Faber doesn’t hesitate to put the blame squarely on President Obama’s big government policies and the Federal Reserve’s risky low-rate policies, which, he says, “penalize the income earners, the savers who save, your parents — why should your parents be forced to speculate in stocks and in real estate and everything under the sun?”

Billion-dollar investor Warren Buffett is rumored to be preparing for a crash as well. The “Warren Buffett Indicator,” also known as the “Total-Market-Cap to GDP Ratio,” is breaching sell-alert status and a collapse may happen at any moment.

So with an inevitable crash looming, what are Main Street investors to do?

One option is to sell all your stocks and stuff your money under the mattress, and another option is to risk everything and ride out the storm.

But according to Sean Hyman, founder of Absolute Profits, there is a third option.

“There are specific sectors of the market that are all but guaranteed to perform well during the next few months,” Hyman explains. “Getting out of stocks now could be costly.”


Read more: Warning: Stocks Will Collapse by 50

NSA Spying on Europeans: Specter of US spying looms large in Germany

NSA is always present
When the German version of the FBI needs to share sensitive information these days, it types it up and has it hand-delivered.

This time last year, it would have trusted in the security of email. But last year was before Edward Snowden and the public revelations of the scope of the National Security Agency's PRISM electronic intelligence-gathering program. After Snowden, or post-PRISM, is a new digital world.

"We're now carrying our information to our allies on foot," said Peter Henzler, the vice president of the Bundeskriminalamt, known as the BKA. He was speaking recently at a German Interior Ministry panel on the country's digital future. The focus of the panel was how to counter U.S. surveillance measures and what it will take for Germans to be safe again on the Web. "We're no longer using the open Internet."

The message is clear: The United States no longer can be trusted not to spy on any and every facet of German life and policy. Henzler's concerns might sound extreme, but he was hardly alone on his panel, and the worries appear to be an accurate reflection of the wider German, and even European, concern about the reach of the NSA's surveillance program.

Hardly a week passes here without some new revelation about the dastardly depths to which the American spy program invaded German privacy, or at least a new way in which to react to the scandal.

Last week, for instance, the news broke that the United States had tapped the cellphone of Gerhard Schroeder when he was the German chancellor from 1998 to 2005. Given that it's been four months since news broke that the same American surveillance program was tapping the cellphone of the current chancellor, Angela Merkel, and had been tapping her phone for several years before she was chancellor, the revelation could hardly have been surprising.

Merkel, after all, was seen as an American ally. Schroeder, who sharply criticized U.S. intentions and efforts in Iraq and was visibly uncomfortable in the presence of then-President George W. Bush, was seen as something less than an American booster.

But there are many more examples, beyond the news stories: Thirty-two percent of Germans tell pollsters they've either left or reduced their time on Facebook for fear of spying. German television ads note the peace of mind and freedom that come with email that doesn't leave European servers. Providers very publicly say that they now encrypt all email. Anti-surveillance NSA protests are common in Berlin.

Such thoughts aren't limited to Germany. A $900 million French deal with the United Arab Emirates for two new intelligence satellites appears to be in doubt after the buyers noticed U.S. components in the French satellites that they feared could compromise their data.

Florian Glatzner, a policy officer with the German Federal Consumer Protection Agency, said they were fielding a lot of consumer questions about how to ensure that their communications and data were safe from the electronic spying of the NSA.

"A lot of the trust in the big Internet companies is gone," he said. "And most of the big Internet companies were based in the United States."

Read more at msn news

February 13, 2014

European Technology: A €63 billion EU app boom. Nearly 5 million jobs in European app sector by 2018, says EU report

Apps=Skills=Jobs
The EU's app sector has gone from zero to digital superhero in less than five years. By 2018 it could employ 4.8 million people and contribute €63 billion to the EU economy according to a report presented in Brussels today.

The study, carried out by GIGAOM and NUI Galway for the European Commission, shows that Europe's app developers are up to the challenge of taking the global lead.

 Currently, EU and North American developers generate the same levels (42% each) of app revenues in crucial EU and US markets. Although the future is bright, developers have raised concerns about the skills gap, connectivity and fragmentation which could put the app boom at risk

Today the app economy employs 1 million developers, and 800,000 people in marketing & support posts.

This could rise to 2.7 million developers + 2.1 million support staff by 2018. EU buyers and advertisers spent €6.1 billion on apps in 2013, 30% of total global app spending, growing to €18.7 billion in 2018. Consumer spending combined with advertising and contract work could lead to €63 billion annual revenue for the app sector within five years.

Neelie Kroes, Vice-President of the European Commission, said "In the face of increasing youth unemployment, these figures give me new hope. The app sector is one area of the digital economy where Europe can really lead. But we have to address concerns about connectivity and fragmentation – yet another reason to complete the telecom single market!"

28 EU leading companies created 40% of the top 100 grossing apps in the EU and US. Three of the top-five companies are Nordic games developers (1st King.com, 2nd, Supercell, 5th Rovio)with German, French, Spanish and UK app developers also finding success outside their native markets. 

Growing market, growing jobs: In 2013, developers earned €11.5 billion making apps for consumer goods, banking, media, retail and other clients. They can expect to earn up to €46 billion through contracts of this nature in 2018. The app boom is creating jobs, for example contract developers Golden Gekko (London/Barcelona) plans to grow its staff 40-50% next year and London-based Grapple Mobile was a 3-person firm three years ago, employs 120 now, and intends to double next year.

February 12, 2014

THE 2014 EUROPEAN ELECTIONS: THIS TIME IT’S DIFFERENT- MORE DEMOCRACY LESS BUREAUCRACY

Vote and let your voice be heard
Elections to the European Parliament will be held in all member states of the European Union (EU) between 22 and 25 May 2014 (depending on the dates set by the national governments), as decided unanimously by the Council of the European Union.     

It will be the eighth Europe-wide election to the European Parliament since the first direct elections in 1979.

The countdown has started: there are 100 days to go until the first polling stations open for the 2014 European elections. In this second biggest democratic exercise in the world, close to 500 million people can cast their vote for a new European Parliament. The 751 MEPs taking up their seats in July will not only set the course of European policies for the next five years but also elect the leader of the EU's executive body, the European Commission President.

For the first time, the composition of the new European Parliament will determine who will lead the next European Commission, the EU's executive body, which initiates legislation and supervises its implementation. Under the new rules, EU government leaders, who will propose a candidate for the post of the future Commission President, must do so on the basis of the election results.

The European Parliament will elect the new Commission President by a majority of the component members, i.e. at least half of the 751 MEPs to be elected (376). European political parties will therefore, or have already, put forward their candidates for this leading position in the EU before the European elections, thus allowing citizens to have a say over next Commission President.

The new political majority emerging from the elections will also shape European legislation over the next five years in areas from the single market to civil liberties.

The Parliament - the only directly elected EU institution - is now a linchpin of the European decision-making system and has an equal say with national governments on virtually all EU laws. Voters will be more influential than ever. 

If you are an EU national living in another EU country, you have the right to vote and stand as a candidate for the European Parliament elections in that country. Check for details with your Embassy or Consulate.

Vote and let your voice be heard.  The EU Belongs to all of us.

To get a Press kit click here.

EU-Digest

Corruption Worlds most important economic problem - how does your country score?

corruption - a global economic disease
The Corruption Perceptions Index 2013 serves as a reminder that the abuse of power, secret dealings and bribery continue to ravage societies around the world.

The Index scores 177 countries and territories on a scale from 0 (highly corrupt) to 100 (very clean). No country has a perfect score, and two-thirds of countries score below 50. This indicates a serious, worldwide corruption problem.

The world urgently needs a renewed effort to crack down on money laundering, clean up political finance, pursue the return of stolen assets and build more transparent public institutions.

Go to the link below and see how your country scores.

For the complete report go to transparency international

The Corruption Perceptions Index 2013 serves as a reminder that the abuse of power, secret dealings and bribery continue to ravage societies around the world.
The Index scores 177 countries and territories on a scale from 0 (highly corrupt) to 100 (very clean). No country has a perfect score, and two-thirds of countries score below 50. This indicates a serious, worldwide corruption problem. Hover on the map above to see how your country fares.
The world urgently needs a renewed effort to crack down on money laundering, clean up political finance, pursue the return of stolen assets and build more transparent public institutions.
- See more at: http://www.transparency.org/cpi2013/results#sthash.cP3Rod0A.dpuf
EU-Digest

Britain: Almost as many Brits living in other EU countries than there are EU citizens living in Britain?

Is a British suicide in the making ?
Factcheck EU argues that Graham Watson, a Liberal Democrat member of the European Parliament, at  a time when the British public is particularly sensitive to issues regarding immigration into the UK, has defended  one of the bastions of the European Union, the principle of free movement, as a reaction to the British Prime Minister's intent to "crack down on European immigration rules."

To support his opinions, Mr. Watson argues that targeting specific nationalities when imposing restrictions on free movement could spark retaliations on British citizens living in other member states of the European Union. Mr. Watson reminds the British public that "there are almost as many Brits living in other European countries than there are other Europeans living in Britain."

Factcheck EU says this statement is not correct and base it on the following arguments.

A report on "Population and Social Conditions" published by Eurostat for the year 2012 states the figure is close to 1 million, which is less than the amount of other EU nationals residing on British soil. Factcheck EU then jumps one year ahead and states the most recent figures from Eurostat indicate that there are now over 2.3 millio European Citizens living in Britain..

Note EU-Digest: Factcheck is comparing Apples with Pears. What they do not describe is that either way the numbers are both substantial and a unilateral move by Britain to step out of the EU would be an economic disaster for Britain and the more than a million plus Brits living in the EU, not to mention the millions of Brits who own vacation homes in the European Union. 

Jim Cowles, Citi chief executive officer for Europe, Middle East and Africa, recently told the British Financial Times that there was "mounting concern" among clients about their ability to use the United Kingdom as a regional hub if the country exits the EU.

Bottom line Britain is far better off in the EU than outside it.

EU-Digest