250 thousand pounds for the destruction of the euro.

In the UK, there was prize for the abolition of the single currency.

Lord Simon Wolfson, head of the British retailer Next and the sponsor of the Conservative Party, established a prize for overall scientific development scenario relatively painless "funeral" euro. Wolfson Economics Prize award for the best "murder" will be 250 thousand pounds, becoming the second largest in economics after the Nobel.

"The award will help to answer some of the most important and still remain unanswered questions that have arisen during the currency union more than a decade ago. We are seeing various speculations about the refusal of the euro, but still on the subject was too little detailed research, "- said the director of the Research Foundation Policy Exchange Neil O'Brien, who is organizing a prize.

Lord Wolfson himself emphasizes that he, like all European businesses, are extremely concerned about stability in the region. Europe, he said, may be in a state of political vacuum caused by the fact that governments can not talk openly about the death of the single currency.

"While many are in a financial crisis in 2008 warned of a problem with the mechanism of pulling out of the block, very few political figures take into account the possibility of such a backup plan. Who is the worst situation for Europe would be extraordinary, disorderly exit from the euro zone one or more countries. And I hope that, thanks to premium, world leaders will plan how best to act in this case, "- said Lord Wolfson.

The project, which started yesterday and will last until January 31, 2012, will invite the participation of 200 leading research institutions in the world. The organizers hope to attract the level economists Joseph Stiglitz, Paul Krugman and Christopher Pissarides (all of them Nobel Prize winners). In their plans participants should consider all the legal, economic and political consequences of their proposed solutions. For example, the requirements were detailed explanation of how the opposite will happen denomination of public debt and private savings, or as the collapse of the euro will affect the stability of the banking system.

Lord Wolfson understands that the award, established in a country which is not a member of the euro area and sees it as a competitor, may, to say the least, misunderstood in Europe. However, he says that he would like to the second most important currency after the dollar retained viability. "I do not want to collapse the euro, as it will result in great damage to the world economy. If this can be avoided, it will be the best way out of all the possible "- said Lord Wolfson.

without a mortgage

In our country, mortgage lending has not received such extensive development as, say, in America, where every young family could immediately get a real estate loan, and then for decades to pay it from your salary. But the benefits of such a convenient way to obtain housing were so obvious that our fellow citizens offended this opportunity.
The current global financial and economic crisis has hit the solvency of borrowers, to the same reason, suddenly increased the interest rates on their loans. Russians have a notification of their debt has grown, scrambled for explanations to the court and were surprised when they learned that the bank claims are legitimate. In fact, it turned out that many borrowers do not bother to carefully examine the conditions under which they took out a loan. And did not notice that the interest rate in the loan agreement originally was laid not fixed and floating, that is able to change depending on market conditions.
People were left alone with the intractable problem ...
At the same time dramatically decreases in the prices of housing, and the return of homes and apartments - the collateral for the banks was not advantageous, since it can be sold at lower prices. Accordingly, banks have tightened lending conditions under the mortgage, and the demand for them has fallen sharply.
Suffice it to say that in the third quarter of this year were given mortgages for $ 5.6 billion. And for the same period in 2008 (according to the Central Bank) under the mortgage banks lent 75.5 billion rubles.
By the way, the State Duma recently rejected the first reading of a bill granting delays in the implementation of the pledged property. Represented bill Ivan Grachev, who insisted that incomes declined due to the crisis, and proposed a moratorium on the eviction of a single housing. According to him, at present the balance shifted in favor of banks. His words MP argued the following data: in trouble today are 200,000 families and 100,000 will not be able to solve the problem without the help of the state.
The total number of transactions in the mortgage market does not exceed 20%, so you do need a mortgage to our compatriots?
In this matter, expert opinion is divided. Some believe that the mortgage - this is the best and most affordable way to obtain housing for families who do not have the means. But others argue that in Russia for the mortgage to the bank treat those people who already can buy their own homes. These buyers are able to forecast their financial risk for the next fifteen to twenty years. Usually they need to simultaneously withdraw from the business is not a large sum of money.
Interesting and the view bytuyuschaya in recent years in the higher echelons of power in Russia and Ukraine. It is believed that the support of the youth housing loans can have a positive impact on the demographic situation. The idea is that soft loans are able to give young families the confidence in their future, so they will and the desire to have children. Especially if the child is born the state will take part of the credit obligations young family.
However, it is not considered that the life of loan creates constant stress with the potential for resistant depression, and in such circumstances beings do not breed ...
Moreover, youth mortgage plan to introduce an ulterior motive in major industrial centers - felt lobby developers! While it has long been proved that in rural villages and small provincial towns has always been higher than the birth rate, and not vice versa.
That is, in this case, the demographic situation remains a big question, and the "good intentions" at the expense of youth mortgage can give a very doubtful result.
To date, according to the company "Kreditmart" mortgage picture is: mortgage on the secondary market offer 17 banks and 13 are ready to give loans against the target of existing property and buying a house to the ground. Interest rate in rubles at the end of the third quarter of this year averaged 20.3%, which is 0.03% lower than the July and 2.07% higher than the January rate of the ruble.
The chief economist of the Criminal Code "Finam Management" Alexander Osin believes that the current ruble mortgage rates can not yet be regarded as attractive.
The next step in the mortgage market has made Sberbank, which for the first time since the crisis began on the program "Young Family" has reduced the down payment to 15% for young families with children and 20% of childless families.
Senior vice president of the Moscow Bank for Reconstruction and Development Andrew Silk explained this decline because the cost of housing, most likely, will not fall, and vice versa - will grow. Thus, according to the draft federal target program "Housing" for 2010-2015, rising real estate prices will begin in 2011.
And now, in spite of such changes in interest rates, the size of the down payment and other terms of mortgage loans, to talk about the revival of the mortgage, unfortunately, are not necessary.

Forex in Russia

The origin and development of the Forex market in Russia occurred in the mid-90's, with the rise of free-market. Quite quickly, he gained popularity due to the spread of departments banks involved speculation. Of course, the development of this market in Russia lagged in comparison with developed countries, primarily because of the "feverish" economy and underdeveloped information.
But gradually, with the emergence in Russia of large brokerage firms, as well as the rapid growth of Internet service providers, began to fill this "no tillage field." Forex attracts Russians high liquidity, efficiency, lack of tax payments and leverage, allows you to trade in the market, with a small deposit. To date, the market is one of the largest, in fact it's even more than just off-exchange trading platform.
The thousands of investors are trading a dozen brokerage firms, causing a huge amount of spin funds. Forex in Russia - this is a whole subculture, with its principles and myths. This huge market is very attractive to many inexperienced privateers, which is particularly evident in our country. So you can often see how customers money disappear into the one-day companies offering enticing terms of trading, catching in their nets novice traders. Often these firms are registered in the so-called offshore in order to obtain the desired profits disappear "meet."
By 2010, Russia have several major dealing centers, such as Forex Club and Alpari, controlling much of the foreign exchange market. Market, unlike in the West, is unregulated, so there are many problems for dealing rooms, and for their customers. For traders, the risk of non-profits for the brokers - the risk of losing customers and bankruptcy. The main problem of the Russian market - a huge number of traders who trade in small deposits. Statistics for the last few years shows that of the 10 traders only one has a profit for the year, while 70% of newcomers leave the market, draining all the money and was disappointed in him.
However, despite the numerous "but" prospects of Forex in Russia is quite optimistic: the level of brokerage firms is growing, there is a constant flow of private investment, infrastructure development leads to the appearance of advertising in the press, on TV and online resources.
All commercial banks are becoming more bidders, and by-night companies on the contrary - is decreasing. The engine of all this - the competition. That makes it an emerging market, is not fully saturated, but rather dense and voluminous. Russia is among the developing countries - so the Forex market will develop in parallel with the general development of the financial system in the country, which will positively affect both the supply of capital and on exports.

The financial rescue of Greece

Greece was in debt. Looming threat of default on the country's already half trembling nerves to the Government and people of the country. Problems of Greece and several other countries with a sizeable budget deficit, especially Portugal and Spain continue to weaken the euro. Investors are skeptical about the decision taken by the EU to allocate a record 110 billion euros in aid to Greece in an effort to prevent the growth of the debt crisis and undermining the European financial system.
Of the 110 billion loan on the shoulders of the European Union should form 80 billion euros, of which 23 distinguishes Germany, and the remaining 30 are for the International Monetary Fund.
Loan period is 3 years. During this period should occur reducing the budget deficit to 8% of GDP this year, to 7.6% - in 2011 and to 6.5% in 2012. Analysts predict that by 2013, Greece's budget deficit will be 4.1%, which is still more than the mandatory 3% of the euro area. To do this, the country will have to make unprecedented steps to stabilize the economic situation.
Already this year, should be an increase of VAT by 3%, the country will have to cut public spending by 24 billion euros to increase the average retirement age from 53 to 67 years, cut public sector wages and allowances to reduce by 5.5%. This will be done together with the total tax. For example, the government plans to Greece is a project of tax of 40% on the Greeks, receiving more than 60 thousand per year. Already 19 May 2010 Greece has to pay bond debt of $ 8.5 billion.
One of the major goals of Greece - the salvation of the largest banks and financial institutions, creditors and so the first € 15 billion will be spent on the creation of a so-called fund to support banks, whose assets are employed in the state. debt and loan company. Given the overall situation in the country, we can predict the massive growth of loan default, and the problem is just the fund will be to prevent bank failures and to create the necessary level of support for capital. Meanwhile, due to the deteriorating economic situation in the country Greek banks lost a lot of the financial strength rating on the results of analytical agencies, which also has a negative impact on the euro / dollar.
Yet, even these seemingly unprecedented measures can not solve the financial problems of the country. Experts say Greece's external debt will not decline until 2014, contrary to rise to 140%. Only in 2015, with all the cuts can be expected to gradually decrease.

In Greece itself, continue mass strikes and protests, unemployment rose to 10%, the inflation rate to 1.5%. State. employees are protesting against the anti-crisis measures, which is the hardest hit by it. Greek Prime Minister George Papandreou said in a televised address: "We have no choice and no time, I want to say to the Greek people that we face are the trials, the next few years will be difficult, but we can handle."

At the head of the leading EU countries in a rush trying to find a way out of this situation. It turns out that for the debts and problems of some countries meet the other, the European Union can not deal with its main task - the currency union. Paris fears repeat of the crisis and want to quickly give credit money scarce countries, Germany opposite - trying to reduce and delay the disbursement of funds. Chapter diligently seek compromise. Greece has become completely dependent on their neighbors in the Union. Difficult days, referred to by the Greek prime minister, has arrived.

6 biggest myths about the imminent collapse of the U.S. economy

Discussing the U.S. economy, are regularly confronted with the arguments on the fact that she will soon come to an end.

Such alarmist statements, of course, have a right to exist. It is true they are often based on established misconceptions and myths that are without an objective basis. For example, it is believed that the government regularly underestimates makrostatistiku in order not to give the information about the real state of things come to the surface. Still there is a rumor that the stock market is completely controlled by the Federal Reserve. These stories, of course, loud sound, but the evidence base is not enough, to say with certainty that it is so.

6 biggest myths about the danger lies in the U.S. economy

The first myth.

First the imaginary threat to the U.S. is seen by many in the U.S. government may one day be in the position of their Greek counterparts. Today this can be heard literally everywhere. Given the fact that the national debt now stepped over the mark of $ 16 trillion, of such statements will be even greater. But in fact the U.S. compared with Greece impossible. Even though the record value of debt, yields on U.S. bonds are now kept at a record low. In addition, the income share of the U.S. budget from tax deductions for debt service is also small.

We must not forget also that the Greek problem is also related to the lack of its own currency, which could be forced to make more competitive. But in countries such as the U.S., Japan and the UK, the presence of the national currency provides a great opportunity to manage them. However, even in the U.S. Congress are afraid that the United States will be a new Greece, and the planned "fiscal gap" - that other, as a result of these fears in an attempt to improve the situation in the economy.

The second myth.

The second threat is seen in the fact that the Fed has no opportunity to help the economy. The arguments in favor of this are the following facts: the Central Bank and so has reduced interest rates to zero, in the last two rounds of quantitative easing, the Fed's balance sheet has been blown, and eventually the U.S. economy has not been able to go on a path of sustained growth. Finally, it is often in the news headlines you can hear that Ben Bernanke is doing everything he can, and so do more, he does not under force.

However, this is not true, as the Fed remains untapped mass of levers that can be, in particular, to begin to break up the consumption and inflation, stimulating economic growth. However, the main obstacle here are the interests of big politics - that the authorities prevent active operations, primarily due to the upcoming presidential election.

The third myth.

There is a common misconception, according to which the high unemployment rate in the U.S. - is the result of the growth of technology in manufacturing, automation and globalization of the economy. Thus, the number of unemployed people can not fall sharply as long as a new generation grows up labor, "incarcerated" under the successful competition with automation.

However, the real data suggests otherwise. According to statistics, the sectors which are most cutting jobs in the crisis years - these are the areas that hired the most new workers in the post-crisis period. If the U.S. economy were structural factors, we could expect that the crisis will actively employ staff other industries, which, however, did not happen.

The fourth myth.

Among some analysts there is a perception that the debt crisis can not be overcome by increasing the debt. The logic in this case is quite clear - the supporters of this approach is seen in the increase in government debt similarity sinking deeper and deeper into debt. Indeed, if we compare the economy of each showing a household, it is obvious that more debt does not reduce the total amount of current.

However, this is not true, because the economy is very different from the economics of the household. During the crisis, the government stepped up debts in time, as economic actors to cut. Thus, the authorities sent new loans to support the private sector. It turns out that if the center of the crisis initially were debts of the private sector, it is useful to increase the state debt, helping to recover households.

The fifth myth.

Skeptics argue that the U.S. economy has become dependent on China, as it has the lion's share of the PRC government bonds of the U.S. government. In particular, at this point in the Republican Party, which scares the Americans that the Democrats have brought to America according to China.

In fact, nothing wrong with the fact that the U.S. national debt is in the hands of China - no. It is important to note that the Americans - one of the main consumers of Chinese goods. As a result, the PRC come dollars, which are directed to the purchase of treasury bills. As long as China wants to rely on the U.S. market, it will have to get back dollars and keep them in U.S. government bonds.

Myth Six.

The last myth lies in the fact that the U.S. government can not create jobs. However, there is enough to say that this is simply not true. Constantly launching new construction projects, educational institutions, and other budget areas, the government does not cease to create thousands of jobs across the country.

U.S. banks have found a new way to destabilize the financial system.

Since the beginning of 2013 in the United States come into effect new rules for transactions in derivatives, which must now be provided with highly reliable assets like US Treasuries. True, the market is so large that its members face the risk of a lack of affordable high-quality securities. Some U.S. banks have decided to provide customers with reliable tools in debt in exchange for a lower-quality paper. This increases the risk of destabilization of the financial system.
Since January 2013 many American participants derivatives market volume of 648 trillion dollars will be traded under the new rules. In particular, they will have to make their transactions through clearing houses, providing collateral for these intermediaries conducted transactions. Under the new rules as a deposit can only be used for highly reliable paper, such as U.S. government bonds. However, the volume of such securities, in free circulation does not meet demands of the industry.
To date, the U.S., Japan and Europe have released bonds rated AAA or AA in the amount of about 35 trillion dollars, but most of these are already in use by other market participants in financial markets, such as central banks or sovereign wealth funds. Recently, an additional demand for them (2.4 trillion dollars) created a large banking companies are forced to increase their net worth. Even up to 2.6 trillion in assets may additionally need to ensure that all transactions with derivatives. In other words, all highly assets may not be enough.
However, enterprising American bankers have found a way out. According to Bloomberg, several major banks, including JP Morgan Chase, Bank of America, Barclays, Deutsche Bank and Goldman Sachs, intend to provide its customers' transformation of the security deposit. " In exchange for the paper is not very high credit quality, they will lend customers a highly reliable instruments that can be used as collateral for transactions in the derivatives market. In return, the banks will not only receive a fee for this service, but also enjoy higher commissions due to increased activity in the sector.
The possibility of such magical transformations of financial instruments not seriously alarmed by the experts and the participants of the market, predicts the imminent intervention in the business regulatory authorities. "Dealers pursue only their own interests and do not necessarily follow the systemic risk associated with the exchange of assets. Once this practice becomes widespread, the government necessarily interested in it, "- says a professor of finance at Stanford University Derrell Duffy. Agrees with this director ED Capital Management Ilya Kravetts, told RBC daily, that this transformation of assets only masks the financial risk, rather than their level: "In fact, it is a kind of financial alchemy, when copper makes gold. Banks can understand - they are looking for new ways of earning. The only question is how soon it will turn into gold over copper. "
Yet another way out, apparently unavailable. Realizing this, the largest U.S. clearing houses have begun to mitigate collateral requirements. Thus, the company CME, owner of the exchange Chicago Mercantile Exchange and Chicago Board of Trade, announced that increases the limit of corporate bonds are available for use as collateral, from 300 million to 3 billion dollars for each primary dealer. This is intended to reduce pressure on the government bond market. But even so, analysts say, is unlikely will save Wall Street from new attempts to make candy out of garbage assets.

How to earn credits?

Earnings on lending - is booming in 2012. And all because the banks pay very good commission. For issuance of a consumer credit you get 1500-2000 rubles. And statistics show that people still make out loans through the Internet, because it is very handy when you bring money courier and requires references.

Everyone understands that this is extremely beneficial, but no one knows what sites do. For this reason, I want to do a little investigation, issue analysis and display works project that earns credits. Believe me, nothing supertehnologichnogo and complicated there.

So first, I found the most profitable Ofer. The first two in the ranking admitad - Home Credit and Nomos Bank. Second Bank appeared recently, but the first is already actively exploited. Webmaster receives 1373 rubles for a credit card and 2169 rubles for loans. According to this bank, and I began to explore vydachu.Iskat did not take long, here's our guinea pig: askon-audit. I do not know whose it is a site, well, okay. It is obvious that this project worked hard. A lot of content, it fits well in the top names at the request of the banks, and even takes the first place on the main query "application for a cash loan online" in Google. I will not say much on this website daily traffic, but trust me, it earns 3-4 thousand dollars a month for sure. This is pessimistic.

The very application of the loan is as follows. On this page people get to the main. Besides, this is the first and best offer in the list. Either there is a second option - referral links. User clacking on the "Get a loan in such a bank" and falls on the official website of the bank, which in itself is credible.

About Queries

What requests should promote? In my view, type the following:

loan online - 2141 show
online loan application - 4,867 views
credit through the Internet - 344 show
Secondary keys apply to reality, they are highly competitive:

consumer credit - 11,854 show
cash loan - 25,458 views
Credit Cards - 9323 show
Therefore it is better to look for simpler queries, such as:

credit without guarantors and references - 9229 hits
It's just a high-frequency samples are actually queries much more. Plus, there's a lot of bass. Lead me to the fact that traffic is much more than you can imagine. Scoop out all the more.

A little motivation

According admitad, each thematic transition brings webmaster 18 rubles. That's about 60 cents. Now, let's remember a couple of years ago it boasted clicks of 5-15 cents per directives on financial topics. Progress is evident, more and more opportunities in our hands.


And finally, a little exclusive. I found out that only admitad webmasters earn 5 million rubles a month in financial Ofer. That's it.

Cheating customers by banks

Specialist lending business, Maria Nikiforova, agreed to tell us a concrete example that will show how banks cheat customers.

Maria:

Now, it is the popularity of credit cards. However, this popularity, and attracts the same scam. Some of them, steal credit cards, while others learn pincode. There are many clever ways to cheat, but it now will not talk about them. Now, the story will be about how to cheat their customers, banks and in any litigation translates this deception.

In 2007, Irina Petrova, finally got a credit card you've been waiting for. To her, of course, attached operating conditions and different advertising bukletiki. These leaflets have been written that after activation credit card, its owner will be able to enjoy a certain amount of money the bank, which was also stipulated in the same statement. In turn, the borrower should have been paid: monthly fees that are charged for using the credit card commission on exchange transactions, interest to the bank, as well as a fee for withdrawals.

Still do not feel the catch? I will now explain. The conditions that have been written on the advertising leaflet, they are also the terms of the contract! The interesting thing is that in this "contract" is not a word, the return of credit debt. But Irina, this fact has not confused. She activated her card. Then, she wrote a letter to a bank, which would ask the final amount paid on the loan. Bank employees she replied that, in a monthly statement that it receives in the mail, specify the amount of the mortgage payments and all that is required of it, it's time to pay these amounts.

You probably already guessed what happened next? After a while, Irina Petrova, began to notice that the debt on the loan, not decreasing, even though she paid for all regularly. Irina started calling the bank and ask how this could be, but any clear answers to the question, and has not received. After these events, a national Petrova, appealed for help to the court and won the case, because, clearly visible, illegal actions of the bank.

Unfortunately, not many people who can see these breaking the bank then, just so they become perpetual debtors. But, even when the person has already paid the debt and credit card is returned to the bank, it can get a letter from the bank, which will be said that he has paid the whole debt and not have to get it back, or there will be problems.

The main thing in this situation - it is not to worry and not to succumb to provocations. Keep all correspondence with the bank, bank checks and other documents that would, if anything, you can go to court and prove their case. In judicial practice, we know many cases of fraud and if you do justice, then, the truth will always be yours.

How to cheat banks. Widespread cheating banks in interest calculations and monthly commission

Banks in different ways to make money on loans. Necessary for them to final percentage is ensured not only dictated by the rate of credit and commissions, but more artful ways. In fact, it - cheating banks.

How to cheat banks in lending?

For example, a well-known bank fraud related to the full entanglement of the borrower on where there is interest on the balance of the debt, and where monthly comission fee (typically accrued to the original loan amount).

This is achieved by means of "word games." It has long been among some of the banks has become popular to dictate its terms to "mask", confusing the borrower.

For example:

"Rate: 0.9% *"
and at the end of advertising booklet transcript barely noticeable fine print "* per month of the amount of credit."

It would seem to be multiplied by 12 - and get the annual rate of 10.8% ... NO!
Please do not fall for the deception of the bank! After all, we know how it should go charging of interest on the loan - for the remainder of the debt, and not on the original amount of the loan each month.

In this case, the bank simply replaced the term "monthly fee" to "rate per month." Rightly or not - the second question. Since such descriptions adorn already from several banks, then they legally protect themselves somehow. And we do not have to care. We just need to calculate how much the loan is "worth" in fact.

Under these conditions "rate 0.9% *" consider a loan of $ 20 000 for a term of 5 years. Ie at 0% APR, with monthly fees 0.9% of the original loan amount. By using the Excel RATE (more about this feature here), we determine the effective interest rate loan (the full value of the loan) - 18.50%. And it is not 10.8%. The numbers speak convincingly.

But on the final results of this is more or less harmless example of how deceiving banks.

But drugyo example. Who would have guessed that in the phrase of one of the largest Russian banks' rate of 2% per month, "hiding the real annual rate of more than 40%? And this is without a commission!

It's simple. It turns out that the bank offered a month of 2% of the original loan amount, ie essentially again dealing with the same bank fraud - "replacement" classic interest rate loans to the percentage monthly fee.

Considering, for example, a 2-year loan for $ 10 000 with the help of RATE, get the value of the effective rate of 40.88%!
Imagine how clients of this bank is perplexed. You bet! Not every time the bet "2% per month," so much has a pocket ... And many of them really believe that "honest" loans at 2%. Ie people often do not even see how to cheat banks!



However, not only monthly commission may enter your expenses. Today, banks often earn well in insurance, which impose when granting loans. And your insurance costs should also be taken into account when calculating the effective interest rate (the full value of the loan). In addition, there are loans with variable rates and differential method of amortization (when it was returned to duty in equal parts, and not the total monthly payment). In all these cases, the need for more detailed calculations.

In my work I use preprogrammed universal credit calculator that considers the full cost of the loan (effective rate), the overpayment, the amount of credit on income and other important parameters of credit on the basis of any initial conditions. It is very convenient to compare different banks. In the application of DVD-set 'Secrets favorable credit' I give a calculator for each type of loan.