Europe

U.S. criticizes ‘unnecessary’ EU rules on genetically modified crops

"The United States on Monday criticized 'unnecessary' European Union rules against genetically modified US crop imports as it prepares to enter free-trade talks with the EU. EU restrictions notably have resulted in delays in the approval of new GM traits 'despite positive assessments by the European Food Safety Authority (EFSA),' the US Trade Representative’s office said in a report on reducing trade sanitary barriers. The USTR also criticized the EU for imposing 'commercially infeasible requirements' on GE content in food products under EU Traceability and Labeling regulations." Continue reading →

Continue ReadingU.S. criticizes ‘unnecessary’ EU rules on genetically modified crops

Greek footballer given lifetime national ban after apparent Nazi salute

"The AEK Athens midfielder Giorgos Katidis has been handed a life ban from all national teams by Greece's football federation EPO after he appeared to give a Nazi salute to supporters during a match. Katidis denied he gave a Nazi salute. The player said he was simply pointing at Michalis Pavlis in the stands to dedicate the goal to his team-mate as he continues to fight health problems. AEK's German coach, Ewald Lienen, backed Katidis. 'He is a young kid who does not have any political ideas. He most likely saw such a salute on the internet or somewhere else and did it without knowing what it means,' he said." Continue reading →

Continue ReadingGreek footballer given lifetime national ban after apparent Nazi salute

The Laffer Curve Bites Ireland in the Butt

"All over the world, governments impose draconian taxes on tobacco, and then they wind up surprised that projected revenues don’t materialize. We’ve seen this in Bulgaria and Romania, and in Washington, DC, and Michigan. Even the Government Accountability Office has found big Laffer Curve effects from tobacco taxation. And now we’re seeing the same result in Ireland. I have to laugh at the part of the article that says, 'receipts are falling dramatically short of targets, even though taxes have increased.' This is what’s called the Fox Butterfield effect, when a leftist expresses puzzlement about something that’s actually common sense." Continue reading →

Continue ReadingThe Laffer Curve Bites Ireland in the Butt

Home-schooling family who fled to U.S. from Germany face deportation by Obama administration

"When they took their three oldest children out of school in 2006, police showed up at their house within 24 hours, only leaving after a group of supporters showed up and organized a quick protest. But their legal troubles were just beginning. Germany began fining the family, ultimately racking up a bill of more than 7,000 Euros ($9,000). After they fled to the United States in 2010, the Romeike family initially were granted political asylum and found a home in Tennessee. They had a sixth child. But then U.S. Immigration and Customs Enforcement (ICE) appealed the asylum decision in 2012. The federal Board of Immigration Appeals sided with the government." Continue reading →

Continue ReadingHome-schooling family who fled to U.S. from Germany face deportation by Obama administration

French workers hold company heads captive after they’re fired without pay

"Workers at a French greetings card firm on Friday sequestered the head of their company and the chief of the Dutch firm which owns it after sacked employees were told they would not get their dues. The protest at the office of French firm Edit66 and the Dutch owner Mercurius, targeted their two chiefs Paul Denis and Merthus Bezemer. The town’s socialist mayor Jean Vila said he backed the action. France’s economy, the second biggest in the eurozone, has been stagnating in recent months. Unemployment is just shy of the record level of 3.195 million last reached in 1997 and the spending power of French households fell in late 2012 for the first time since 1984." Continue reading →

Continue ReadingFrench workers hold company heads captive after they’re fired without pay

France’s President Hollande finds loophole to impose 75% tax on the rich

"The 75% super-tax on the mega-rich, which was rejected by France's constitutional court might be imposed anyway. French President Francois Hollande suggests laying the burden on businesses rather than on individuals. In the interview with France 2 television President Hollande said he has revised his original plan to lay the massive tax on individuals earning above €1 million, which has been ruled 'unfair' and rejected by the Constitutional Court and later the State Councils, leaving the President embarrassed. Hollande will now propose to tax employers paying their workers more than €1 million. The measure, if approved, will last for two years." Continue reading →

Continue ReadingFrance’s President Hollande finds loophole to impose 75% tax on the rich

European Union delays carbon tax for one year

"The EU will put its controversial carbon tax on intercontinental airline flights on hold for a year to give time for international talks to reach a compromise on the issue. Almost all ICAO members have objected to the EU carbon tax on airline flights, which formally took effect in January 2012, saying it violated international law. China even threatened reprisals against European aircraft maker Airbus. The US rejects the EU’s methodology which calculates the tax based on the entire flight, but could possibly accept basing it on the portion through European air space. US airlines lost a complaint against the tax before the European Court of Justice." Continue reading →

Continue ReadingEuropean Union delays carbon tax for one year

Europe’s new financial transaction tax missing projected revenues

"Tough taxes on financial transactions across Europe have devastated market activity and failed to raise as much as politicians hoped, according to new figures out yesterday. Hungary implemented a 0.1 per cent tax at the start of the year. But it raised less than half the revenue the state had hoped for, bringing in 13bn Hungarian Forints (£36m) in January. France forged ahead on its own, introducing a 0.2 per cent tax on sales of shares of major firms. But that only raised €200m (£169.4m) from August to November, well below to €530m expected. And Italy launched its FTT this month. Figures from TMF Group suggest it has cut trading volumes by 38 per cent already." Continue reading →

Continue ReadingEurope’s new financial transaction tax missing projected revenues

Bank of Cyprus head fired under bailout deal

"The chief executive of the Bank of Cyprus, the island’s biggest lender, has been sacked by the central bank governor as part of an international bailout deal, state media said on Wednesday. Yiannis Kypri was fired on the instructions of the so-called troika of the European Union, European Central Bank and International Monetary Fund, the Cyprus News Agency (CNA) reported. It said his departure was ordered as part of the restructuring of the Bank of Cyprus under the bailout deal, which involves the bank absorbing the remains of Laiki, the second biggest bank in Cyprus that has been wound down." Continue reading →

Continue ReadingBank of Cyprus head fired under bailout deal

Cyprus bank controls to last a month, minister says

"Cyprus conceded on Thursday that tight capital controls would remain in force longer than expected as the island's banks reopened for the first time after the government was forced to accept a tough EU rescue package to avoid bankruptcy. The government initially said the controls would remain in place for a week, subject to review. Economists say they will prove hard to lift as long as the economy is in crisis. To help the Cyprus banks weather the crisis, the European Central Bank flew in 5 billion euros ($6.4 billion) in cash overnight from Frankfurt, a German newspaper reported." Continue reading →

Continue ReadingCyprus bank controls to last a month, minister says