Formula 1 is very specific kind of sport. In 2009, the royal racing underwent major changes in regulation Championship F1. FIA has recently been practicing a policy of cost reduction teams for the possible arrival of Championship new members, which often does not benefit the current command. In fairness you can see that the teams themselves know what their costs are too great to race and do offer some innovations. So the team decided to ban the tests during the championship, which should reduce spending, but again, many teams are faced with some difficulties because of this. Initially it was planned that in the championship of Formula January 2009 pilots will go on start 19 times, but in the off-season, first because of financial disagreements rights to Formula 1 Grand Prix Canada has lost, and a little later and Magny-Cours.
Championship became a sort of thanks to the results, which show team of F-1. If before it could be argued for the unconditional superiority of the factory teams, supported by the automakers, the unique changes in the rules have benefited private teams, which suddenly became much stronger than Ferrari, Toyota and some other teams. The first six of the seven races of the championship winning team representative private BraunGP. Championship was different from others because the teams were allowed to use the system recovery kinetic energy of Quercy, which gives the rider an additional 60 horsepower. But this system is complex in design and operation, so use it only a few commands. Another innovation was the return of slicks in F1. Long used the team bus with the grooves, which are accompanied by an increase in security events, as they reduced the speed of cars, but now the Federation of Motorsport is allowed to return to F1 slicks. Aerodynamic elements are also striking.
Formula Units in January 2009 was actually completely changed its appearance. The wide front wing and narrow rear looks amazing, but it's the rules. In a prize are the commands that able to develop a little time and set his car on a double cone, which in the first races of the championship have used Red Bull and BrawnGP. It seemed that the championship is doomed, because the superiority of Brawn GP team was just tremendous, but to the equator of the season, it became clear that giving up too early and relax as the leaders have changed, and the rhythm began to ask more recent outsiders. FIFA 2009 is not finished yet, and who knows how it will end!
Monterrey N.L.-the single-rate tax is not new. Its implementation in the emerging economies of the old Soviet bloc behind their use by encouraging the contribution of taxes for development and discouraging tax evasion. That is the objective of the Secretary of Hacienda Agustin Carstens, Chicago Boy by excellence and former Deputy Director of the International Monetary Fund. It is obvious that Carstens has strong influence of the IMF and the University of Chicago. A recent study by the financial body said that single-rate tax has managed to reduce tax evasion and has elevated the collection, in a virtuous circle for public investment in Russia.
Countries that have successfully implemented this new tax, in addition to Russia that adopted him since 2001, are Slovakia, Romania, Georgia, Estonia, Latvia, Serbia and Ukraine and Poland and the Czech Republic will soon it. For its part, Richard Epstein, Professor of law of the University of Chicago, where he studied our Secretary of the Treasury points out that it is not no coincidence that the great defenders of limited Government lean toward single-rate tax. Liberal capitalism may be recalled it rests on three torales bases as the limited Government – by the Constitution, the free market and private institutions strong, generating of wealth. Another of the advantages of the tax initiative of Carstens is attack the tax evasion of the informal economy by taxing monthly deposits exceeding the 20 thousand pesos – added in various accounts or a single-. This simple measure will increase tax revenues in a country where the majority of the economically active population and by his account, jumps the duty to contribute to our country. Many are financed with own taxes and others simply cannot pay.
As we can see, master Carstens extruded sleeve this new proposal that has already proven to be good in emerging economies as the Russia and left behind the recommendation of the IMF itself from taxing food and medicines which, by the way, the private sector of Mexico complains. The call of the Republic is to pay tax to deter evasion and thus invest in Mexico. Now we need Government to slim and leave behind, wasteful spending as interest payments to the banks by the great robbery of the Fobaproa. The discussion about the bad call petty cash tax reform – the respectable expected something more spectacular – will take weeks. It is a fact that for September 8, date to debate public spending for 2008, ready the opinion to put to members for consideration. If you look, dear reader, are a few days that end June, the discussion would be in August and September, later than in October, will have a green light to the proposal and the 2008 spending. No wait for the last day of December to get written laws on the knees that has no benefits us in this country. Times are in line to support the Andres Manuel Lopez Obrador teatrito July 2 that will begin to insult and rant for getting tired and tired until the end of the same month. The wearer does know You which is the Forum? asks North citizens who answered with a 70 percent that don’t. But if they have three years criticizing the event and neither so they have managed to spread it!
The ultimatum also affected Slovenia, Greece, Italy, Poland and Portugal. Spain assures that it has already transposed the greater part of the directive. The European Commission has launched an ultimatum to Spain to apply the Community legislation which aims to strengthen the capital of banks and improve the policy of remuneration of bank managers. The deadline to transpose this directive into national law expired on January 1, 2011. The ultimatum from Brussels takes the form of a reasoned opinion, the second stage of an infringement procedure. If within two months of the Spanish authorities do not correct the situation, the EU Executive could take the case before the Court of Justice of Luxembourg (TUE).
The directive in question aims to ensure the financial solvency of the banks and investment companies as well as tackle the excessive and imprudent risk-taking in the banking sector favoured by some poorly designed remuneration that have caused the bankruptcy of different entities and brought problems to the society as a whole, according to the Commission emphasised. The current financial crisis proves how it is important to address those two points for citizens, enterprises and the society as a whole. If common standards are not observed in the same grade across the EU, this could give rise to loopholes that could be exploited, the EU Executive in a statement has criticized. In addition to Spain, the ultimatum also affected Slovenia, Greece, Italy, Poland and Portugal. The Commission will also urges Belgium, Slovakia, Luxembourg and Sweden to give fulfillment to the parts of the directive have not yet been implemented. Shortly after they knew the news, the Ministry of economy and finance has submitted a statement which says that Spain has already transposed the greater part of the European capital requirements directive to its internal regulations. Imminent approval of fact, the Department directed by Elena Salgado stresses that the directive is already transpose in its entirety and, of course, through the sustainable economy Act amending the investment coefficients, own resources and obligations of information act to financial intermediaries. In addition, obligations on remuneration contained in the Spanish apply retroactively from January 1, 2011, as established in the directive.
In the same way, the Ministry ensures that the remaining part of the transposition of technical and regulatory character, will be completed with the imminent adoption of the Royal decree amending the text on own resources of entities that is at a very advanced stage of processing. It also recalls that, prior to the adoption of the law of sustainable economy, the Bank of Spain already had and exercised oversight of the remuneration of the directors of the financial sector capacity way ctiva. Finally, the Economic Department points out that the European directive was adopted largely at the mercy of the political momentum that gave Spain when he occupied the Presidency of the Council of the European Union by the year 2010. Source of the news:: the European Commission urged Spain to monitor the pay of bank executives.
Councils will be forced to sell its assets with mechanisms of incentives and disincentives entered in the stability pact, he said Tremonti. The Minister of economy, whose weakened image inside and outside the Government has also fostered the concern about Italian finances, said that within those privatizations may not be the distribution of water, something that was discarded in rrendum last June. Tremonti also said that the austerity plan will be reinforced throughout the four years which should cover, 2011-2014, and denied that the recent turbulence in the markets are a problem only Italian. We have under tension to markets at this moment, and if we look at risk (of debt) premiums have more or less than 40% of the euro area (in a similar situation). And I say this not to rid myself of the responsibility, but to say that the problem is not in the country, but is the whole structure of European architecture, said the Minister.Everything that has caused the crisis is there yet.
The new rules have not been implemented. There have been three lost years, He added. Italian banking system together with Tremonti intervened also in the Assembly of the ABI, the Governor of the Bank of Italy and next President of the European Central Bank (ECB), Mario Draghi, who insisted on the strength of the Italian banking system in view of the results of tests of solvency will be known on Friday. Italian banks have demonstrated and continue to demonstrate strength and reaction capacity in serious times, but not only during the acute phase of the financial crisis, which has saved them a model solidly anchored in the core business of banking activity, said Draghi. The Bank of Italy has also resisted at the later stage, when the crisis has followed a deep recession in all advanced countries, grueling in Italy because he came from a decade of stagnation in turn followed by a slower recovery that in other places, added. The next ECB President expressed the need for Italy to approve structural reforms as soon as possible and He said that if the Government not tackles cuts in other items of expenditure other than those referred to in its adjustment plan, will have to raise taxes. After three sessions of turbulence, the stock exchange of Milan lived this Wednesday a day smoothly and the risk premium on Italian debt moderated this Wednesday, once yesterday Tuesday will mark a new record in the 347 basis points. Fitch qualifies to Italy’s stable measurement of Fitch risk agency said Wednesday that budgetary adjustment and fiscal reform plan approved by the Italian Government on June 30 is going on the right track so Italy can keep their current high credit rating of AA-, with investment grade. Fitch forecast that the Italian Government probably will reduce the budget deficit as planned, so the Agency maintains the stable Outlook for the qualification of Italy. The Agency indicates that its forecasts of growth for the Italian economy in 2011 are of 0.7%, compared with 1.1% of the Government, and that, despite this, still hopes the Executive of Silvio Berlusconi to reduce the budget deficit to 3.9% of GDP. Source of the news: Berlusconi will submit its adjustment plan to a vote of confidence