Daily Archives: January 4, 2012 @ 3:03 pm (Wednesday)

Europe Agrees to Ban Imports of Iran Oil; No Date Set

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The European leadership’s grasp of market forces is even worse than I had imagined.

Unless they somehow cut back on oil consumption, and no one else buys from Iran,
Iran’s sales and prices received don’t change:

Europe Agrees to Ban Imports of Iran Oil; No Date Set
Published: Wednesday, 4 Jan 2012 | 1:01 PM ET
By: Reuters

 
European governments have agreed in principle to ban imports of Iranian oil, EU diplomats said Wednesday, dealing a potentially heavy blow to Tehran just months before an Iranian election.

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Posted in EU

French pro growth formula

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This is their idea of pro growth:

In a speech given in Paris on January 3rd, the President of France Nicolas Sarkozy confirmed that the country will soon see an increase to the national rate of value added tax and a reduction to the mandatory social security contributions paid by employers.

http://www.taxationinfonews.com/2012/01/president-confirms-tax-hike-in-france/

This is on top of the increase in the reduced rate of VAT in France (from 5.5% to 7%) that was announced earlier.

An increase in standard VAT rate (19.6%) in France (even though still under consideration), could have quite a significant impact on EU HICP and FR CPIx

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