Tuesday, July 12, 2011

"European Union" Or "Eu": Core vs Periphery in the EU

"European Union" Or "Eu": Core vs Periphery in the EU

From 1980 to 2004 joining the European Union was quite popular among large sections of the populations in concerned countries. Portuguese, Greek and Spanish citizens regarded their countries’ participation in the European integration both as a guarantee of democratic stability (indeed all three of them were emerging from a period of dictatorship ) and as a real opportunity to improve living conditions (there were significant transfers from richer countries in the EU towards the new members from the Mediterranean region during the first years of their adhesion ).

Their joining the euro zone during the 2000s was also well received since it went together with increased consumption levels, albeit financed on credit. Something similar occurred among countries of the former Eastern bloc: there too, people saw joining the EU as a guarantee of democratic stability, a perspective of transfers, the possibility to move around within the Union, perhaps even of finding a better paid job in the West, and access to credit to finance consumption. However, very soon, the transferred amounts were drastically reduced and some productive sectors, particularly farming, were badly affected by competition with much more industrialized and competitive West European agrobusiness.

The years 2008-2010 marked a turning point in the perception European peoples have of the EU. Many became quite critical, which was largely a result of the European Commission accumulating neoliberal measures while claiming to promote the notorious ‘free and undistorted competition’, to which were added from 2009-2010 the crisis of the euro and the deep impact of the economic crisis.

Core and Periphery within the EU
The hierarchical relationship at global level with a ‘Core’ consisting of the US, the EU and Japan (the Triad) and a Periphery consisting of so-called ‘developing’ countries is reproduced within the 27 member states of the EU. The Core consists here of the most powerful countries among which Germany and France, but also the UK, Italy and the former Benelux (the Netherlands, Belgium and Luxembourg). The Periphery is subjected to decisions made by this hegemonic Core and mainly consists of countries lying to the south and east of the EU, not forgetting Ireland to the West. At the more limited level of the euro zone (16 countries), [3] the same distinction resulted in the acronym PIGS (Portugal, Ireland, Greece and Spain), that has prompted outragously racist puns.

The EU’s refusal to develop genuinely common policies to help new members reduce their economic drawbacks compared with the Core is largely responsible for structural discrepancies that work against the process of European integration.

Over the last ten years Germany (as well as the Netherlands and Austria) has developed a neo-mercantilist policy: it has increased its exports particularly within the EU and the euro zone by reducing workers’ wages. In September 2010 in Germany 7.3 million wage earners only had a small part-time job paid 400 (four hundred) euros a month.  So its competitiveness has clearly increased compared with its partners, particularly countries such as Greece, Spain, Portugal, but also Romania, Bulgaria or Hungary (which do not belong to the euro zone). Those other countries had to face a growing trade deficit towards Germany and other countries of the Core. Their current balance-of-payment deficits reflect surpluses in countries of the Core, especially Germany. Such financial deficits, which can be either private or public, have to be compensated for by external contributions: foreign investments or debts, i.e. loans. The current balance deficit can be traced for the most part to private deficits, a majority of which were financed by loans from banks of the Core, for investments were relatively limited (except in the case of Spain) or were neutralized by significant capital outflow in the guise of TNCs taking their profits home. In some Eastern European countries (Hungary, Slovakia and the Czech Republic) such profit repatriation (capital outflow) have been definitely more significant than investments (capital inflow).

It can thus be argued that the debts to be paid by countries of the Periphery are essentially due to the behaviour of the private sector within the EU. Unable to compete with the Core, companies of the private sectors have contracted debts with banks of the Core but also with internal agents as the economy of these countries is increasingly controled by the financial sector since they joined the euro zone. Consumption boomed in those countries and in some of them (Spain, Ireland, Hungary, Romania, Bulgaria) a real estate bubble finally burst.

Higher and higher interest rates paid by countries of the Periphery for new loans contracted since the crisis started will further drain capital from the Periphery to the Core (to the private financial institutions that buy debt securities issued by countries of the Periphery or governments of the Core that are involved in ‘aid plans’ by lending money at 5.2% interest rate in the case of Greece). Germany, France and Austria, for instance, borrow at 2% and lend at 5.2%. This is a highly profitable move. Financial markets demand double or triple interest rates compared with 2007-2008 and the borrowed amounts are impressive. The money lent by countries of the Core to Greece, Ireland or Portugal is paid back to private banks in countries of the Core, and interest rates with these banks are 10% or more. There is indeed a drain on resources from the Periphery to the Core.

On the other hand, given the productivity edge of Germany and of other countries of the Periphery, financial drain also occurs through trade exchanges according the mechanism of unequal exchange Marx describes in Das Kapital: Capitals invested in foreign trade can yield a higher rate of profit, because, in the first place, there is competition with commodities produced in other countries with inferior production facilities, so that the more advanced country sells its goods above their value even though cheaper than the competing countries. [. . . ] The same may obtain in relation to the country, to which commodities are exported and to that from which commodities are imported; namely, the latter may offer more materialised labour in kind than it receives, and yet thereby receive commodities cheaper than it could produce them.

Democratic foundation of another European Union based on solidarity
Several provisions in the treaties that preside over the EU, the euro zone and the ECB have to be cancelled. For instance, we must do away with articles 63 and 125 of the Lisbon Treaty that prohibit any move of capitals as well as any aid to a state in difficult circumstances. We should also do away with the Stability and Growth Pact. And replace the current treaties with new ones in the context of a genuinely democratic constituent process so as to achieve a pact of solidarity among peoples that is mindful of both employment and the environment.

We must thoroughly revise the monetary policy as well as the status and practice of the ECB. The inability of the political power to force the ECB to create money is a heavy handicap. When it set the ECB above governments and thus above the peoples, the EU made a disastrous choice: it subjected man to money instead of the other way round.

A Europe based on solidarity and cooperation must allow us to turn away from competition, which draws all standards down. The neoliberal logic has resulted in the crisis and proved a failure. It pushed social indicators down: less social protection, fewer jobs, less public services. The minority that benefited from the crisis did so by tramping on the rights of others. Those who are guilty are rewarded while victims have to pay! We must change this untenable logic, on which all founding texts of the EU are based, with the Stability and Growth Pact in the lead. More than ever, we must strive toward another Europe, based on cooperation among states and solidarity among peoples.

This new democratized Europe must strive to establish non negotiable principles. It must uphold and improve social and fiscal justice, make choices that will raise the standard of living of its inhabitants, engage in arms reduction and a radical decrease in military spending (including withdrawing European troops from Afghanistan and leaving NATO), choose sustainable energies so as to avoid nuclear power, and refuse genetically modified organisms (GMO). Furthermore, Europe must resolutely put an end to its "besieged fortress" policy regarding candidates for immigration, so that it can become a partner trusted for its fairness and true solidarity towards the peoples of the South.

Dai-ichi Mutual Life Insurance Co. on Friday announced the plan to acquire Vietnam’s Bao Minh CMG.


Market analysts said this is one of the largest acquisitions that Japanese companies have made in recent years, and the first acquisition oversea of Japanese company in 2007.

Bao Minh CMG, the fifth largest life insurer in Vietnam, is a, equally-shared joint-venture between Vietnam’s Bao Minh insurance company and the CMG of the Australia’s Commonwealth Bank Group. The joint-venture was established in 1999.

Dai-ichi Mutual Life Insurance, established in 1902, is the oldest mutual insurer in Japan and the second largest life insurer in Japan (only after the Nippon Insurance) with total assets over $276 billion in 2006.

An internal source said the Dai-ichi will rename Bao Minh CMG to Dai-ichi Mutual Life Insurance Vietnam. The terms and condition of the deal have not been disclosed.

However, the acquisition will have to wait for approval from the Vietnam’s Ministry of Finance. Read More

Dai-Ichi Insurance Company Buys Bao Minh Cmg


JAPANESE INSURER TO BUY VIETNAM'S BAO MINH CMG
HANOI, Jan 15 Asia Pulse - The Dai-ichi Mutual Life Insurance Company (Dai-ichi Life) plans to purchase Bao Minh CMG Life Insurance Company (Bao Minh CMG), a move which has been approved in principle by the Finance Ministry.

This is the first Japanese life insurance company to begin operation in Vietnam and is the first full-scale mergers and acquisition (M&A) transaction in the Vietnam financial sector.

Bao Minh CMG, the fifth largest life insurance company in terms of gross premium income in Vietnam, was established in 1999 by a 50/50 joint-venture of the major Australian life insurance company, Colonial Mutual Life Assurance Society Limited and the joint-stock Bao Minh Insurance Corporation.

Bao Minh CMG will be changed into the Dai-ichi Life Insurance Company of Vietnam (Dai-ichi Life Vietnam) after the acquisition.

Despite the change of the name and the ownership of the company, all the rights and obligations of customers under all existing insurance contracts remain unchanged until the expiration of the contracts, according to press releases issued by Bao Minh CMG and Dai-ichi Life.... Read More

Dai Ichi Mutual Life Insurance 1133 Avenue of the Americas # 28 New York, NY 10036-6710


About Dai Ichi Mutual Life Insurance
Dai Ichi Mutual Life Insurance in New York, NY is a private company categorized under Insurance. Current estimates show this company has an annual revenue of $2.5 to 5 million and employs a staff of approximately 20 to 49. Companies like Dai Ichi Mutual Life Insurance usually offer: Comprehensive Auto Insurance, Full Coverage Auto Insurance, Liability Auto Insurance, House Insurance and Cheap Car Insurance.

Business Categories
Insurance in New York, NY
Insurance Agencies & Brokerages
View newly formed U.S. businesses

Company Contacts
Toshiya Kanane, President
Akira Noguchi, Chairman
Hideki Soraoka, Senior Vice President

Dai Ichi Mutual Life Insurance Business Information
Location Type :Single Location
Annual Sales (Estimated) :$2.5 to 5 million
Employees (Estimated) :20 to 49
SIC Code :641112, Insurance
NAICS Code :524210, Insurance Agencies & Brokerages
Products, Services and Brands :Information not found

Dai-ichi Mutual Life: Japan's Dai-ichi Mutual Life IPO to be biggest since Visa


Japan's Dai-ichi Mutual Life Insurance Co. is headed for a market capitalisation of 15.5 billion US dollars after its April 1 initial public offering, the world's biggest since Visa's in 2008.

Japan's second-biggest life insurer will be listed at the start of next month as it will be demutualised to become a joint stock company.

Facing a declining home market due to Japan's ageing and shrinking population, the company is raising funds for expansion, including in emerging Asian markets such as India, Thailand and Vietnam.

The Tokyo-based company on Tuesday set the offering price at 140,000 yen (1,550 US dollars), the middle of its previously announced tentative price range, for the 10 million shares, for a total of 1.4 trillion yen.

Of these, about 7.2 million shares will be released to retail investors, raising 1.01 trillion yen, or 11 billion US dollars, with some five million shares sold domestically and over two million overseas, the company said.

The remainder will be allotted to existing Dai-ichi policy-holders.

The IPO is set to be the world's largest since Visa's 19.7-billion-dollar offering in March 2008.

It will be Japan's biggest in more than a decade, since Nippon Telephone and Telegraph released shares in its mobile phone operator NTT DoCoMo in 1998, which came to 2.1 trillion yen.

Dai-ichi Mutual has decided to list the company, which is currently a mutual corporation owned by its eight million customers, so that it will be able to secure funds for investment in domestic and overseas operations.

"With funds obtained through the market, Dai-ichi can strengthen its health and pension insurance businesses," said Masahiko Miwa, analyst at Moody's Japan. "It will also be able to expand its business overseas. If Dai-ichi succeeds in taking advantage of the listing, its rivals may follow suit."

The looming IPO has already created ripples at the Tokyo Stock Exchange, said Hirokazu Fujiki, analyst at Okasan Securities.

"Some investors have started selling their own shares to cash in for planned purchases of Dai-ichi, which may send overall prices down temporarily," he said. "But in the long run, the listing is expected to activate Japan's equity market and will have a positive impact on the entire Japanese economy."

Mizuho Securities, Merrill Lynch Japan and Nomura Securities are the lead underwriters for the IPO in Japan.

Mizuho Financial Group Inc. would acquire a 5.6 percent stake in Dai-ichi, Sompo Japan Insurance Inc. 4.0 percent and the Bank of Tokyo-Mitsubishi UFJ 2.2 percent, Kyodo News reported earlier.

The joint lead managers overseas are Merrill Lynch International, Mizuho International, Nomura International and Goldman Sachs International, said Dow Jones Newswires. Read More

Dai-ichi Mutual Life: The Dai-ichi Life Insurance Company, Limited (第一生命保険株式会社 Dai-ichi Seimei Hoken Kabushiki-kaisha)

Dai-ichi Mutual Life: The Dai-ichi Life Insurance Company, Limited (第一生命保険株式会社 Dai-ichi Seimei Hoken Kabushiki-kaisha)

The Dai-ichi Life Insurance Company, Limited (第一生命保険株式会社 Dai-ichi Seimei Hoken Kabushiki-kaisha?), or Dai-ichi Life for short, is the third largest life insurer in Japan measured by revenue, only behind Japan Post Insurance and Nippon Life Insurance.

Founded on September 15, 1902, Dai-Ichi was the oldest mutual insurance company in Japan until a motion to demutualise was passed in 2009 and, on April 1, 2010, it listed on the Tokyo Stock Exchange Nikkei, raising 1.01 trillion yen. As a result of its listing, Dai-Ichi replaced Nippon Telegraph and Telephone Corporation (NTT) as Japan’s most widely held stock.

Key facts
  • Total assets - $276,552 million USD
  • Policy reserves - $227,524 million USD
  • Total capital - $21,425 million USD
  • Solvency margin ratio - 1,095.5%
  • Policies in force - $2,085 billion USD
  • Policyholders - 8,646,469

History
  • 1938 - head office is moved to its current Tokyo location.
  • 1975 - first overseas representative office is established in New York City.
  • 1982 - first European representative office is established in London.
  • 1990 - investment in Lincoln National Life Insurance Company marks the first time a Japanese company has participated in capitalizing a leading U.S. insurer.
  • 1993 - completion of the DN Tower 21, a new head office building.
  • 1995 - Great Hanshin earthquake: simplification of claims settlement procedures.
  • 1996 - establishment of the Dai-ichi Property and Casualty Insurance Co., Ltd.
  • 1997 - establishment of Dai-ichi Life Research Institute Inc.
  • 1999 - agreement on total business cooperation with the Industrial Bank of Japan (now Mizuho Financial Group.)
  • 2000 - agreement to form a comprehensive business alliance with Sompo Japan Insurance and Aflac.
  • 2002 - celebration of its 100th Anniversary.
  • 2010 - Demutualization and stock listing on the Tokyo Stock Exchange

Dai-ichi Life Insurance Company, Limited Company Profile | Dai-ichi Life Insurance


Trying its best to live up to its name (Dai-ichi means "first"), Dai-ichi Life Insurance Company is one of Japan's top insurers. The firm sells individual and group life insurance, annuities, and supplemental medical coverage, as well as individual and group pension products. Dai-ichi Life also provides nonlife insurance products through its partnership with Sompo Japan Insurance, as well as cancer insurance through a partnership with Aflac. Other services include asset management and risk management. Dai-ichi Life sells its products through thousands of sales representatives it calls "Total Life Plan Designers."

Contact Information
Address: 13-1, Yurakucho 1-chome, Chiyoda-ku
Tokyo 100-8411, Japan
Phone: +81-3-3216-1211
Fax: +81-3-5221-4360

Financial Highlights
Fiscal Year End: March
Revenue (2009): 53710.50 M
Revenue Growth (1 yr): 1.70%
Employees (2009): 54,276
Employee Growth (1 yr): 3.00%

Key People
• Chairman: Tomijiro Morita
• President and Board Member: Katsutoshi Saito

Industry Information
Sector: Financial
Industry: Life Insurance

Top Competitors
• Meiji Yasuda Life Insurance Company
• Nippon Life Insurance Company
• Sumitomo Life Insurance Company

Asbestos Removal, Peritoneal Mesothelioma, Symptoms Of Lung Cancer, The Best Asbestos Removal Techniques, Peritoneal Mesothelioma Simplified


The Best Asbestos Removal Techniques
Many homes were been built using asbestos, which was once quite popular due to its fibrous fireproof attributes, making it a very common choice for many homes built in the 19th century and even later. The only way to know whether your home was built using asbestos is to have a professional come in and test your home for its presence.
The problem with asbestos is that when it is disturbed, it becomes particularly dangerous. For this reason, if you unknowingly decided to tear down a wall in your home that was made using asbestos, the resulting dust and fumes from the wall could become very dangerous. Asbestos has been linked to cancers, heart problems and respiratory diseases.

Testing Your Home
Before you attempt any repairs on your home or tear down walls, you may want to consider hiring a certified inspector in order to test for the presence of asbestos in both your home and the outside of your home. Depending on the amount found, an inspector often then determines whether it is more hazardous to remove the asbestos or leave it in place.
There are special sealants today that can be used to seal an area where asbestos is detected, but defer to a professional to decide whether this option is safer than actually attempting to remove it. When asbestos is disturbed, the fibers released into the air are very hazardous and can make the home unlivable during the removal process.

During the Removal Process
If it is determined by a professional inspector that leaving the asbestos is more hazardous than removing it, the process to remove it begins. Professionals should remove the asbestos, as attempting to do so yourself could result in dangerous exposure that can later prove deadly. Normally, professionals will seal off an area that needs to have the asbestos removed, so that it does not contaminate the rest of the home.
The techniques to removing asbestos consist of wetting the area with a compound that binds to it so that it holds together during the removal process. This is important because if it is not bound together during removal, an asbestos dust results which is dangerous when breathed in. The way asbestos is often removed safely is when it is wet, sealed, bound together and placed in sealed containers.

The process to remove asbestos from homes is quite involved simply because of the dangers that occur when the asbestos is disturbed. It is therefore crucial that you have your home tested before you do any reworking of your home. This is especially essential if you have an older home.

Unfortunately, many people are paying the price with their health due to exposure to disturbed asbestos. While some people filed lawsuits and received compensation, this is only a small compensation because many can never regain their health. Making certain that your home is tested for the presence of asbestos before you undertake any projects involving the walls, ceilings, or flooring is truly a matter of life and death. Read More

Lung Mesothelioma Asbestos | Pleural Mesothelioma + Blogspot.Com


Peritoneal Mesothelioma Simplified
Mesothelioma is a form a cancer that affects the lining around a particular internal organ. Generically, this lining is called the mesothelium, but goes also goes by a name that's more specific to its respective organ. The pleura, for example, is the lining around the lungs, and pleural mesothelioma is the most common form of the disease. Another common form affects the peritoneum, which is the membrane lining the abdominal cavity. This is called peritoneal mesothelioma.

Most cases of meso-70 to 80%-are cause by asbestos that's inhaled or otherwise ingested. Some types of works sites are inherently prone to asbestos exposure, such as older houses being renovated. Asbestos has been largely out of production in the United States for nearly 40 years, when the evidence linking the disease with the material between too abundant to ignore, but unfortunately, mesothelioma has a latency period of 20 to 50 years between exposure and the first symptoms manifesting themselves.

In peritoneal mesothelioma, asbestos fibers lodge themselves into the mesothelium, and remain in place for years, causing inflammation. Over time, this continual inflammation results in the development of mesothelioma tumors that spread to cover the whole abdominal cavity.

Abdominal swelling due to fluid buildup (ascites) is the symptom that's usually noticed first. Other symptoms include vomiting, appetite loss, stomach pain, rapid weight loss, nausea, blood clotting in the legs, and obstruction in the bowels. If the cancer cells in the local tumors metastasize, then the malignant peritoneal mesothelioma can travel upward from the abdominal cavity to put pressure on the throat, making it hard to breath or swallow. Read More

Woman Suffer From Mesothelioma | Pleural Mesothelioma + Blogspot.Com

Woman Suffer From Mesothelioma | Pleural Mesothelioma + Blogspot.Com

The video showing a woman who suffered from mesothelioma cancer but healed from it. For more malignant mesothelioma,mesothelioma,mesothelioma cancer,pleural mesothelioma,benign mesothelioma,mesothelioma cancer,mesothelioma symptoms,mesothelioma prognosis,asbestosis...

Peritoneal Mesothelioma Symptoms | Pleural Mesothelioma + Blogspot.Com


The Mesothelioma Lawyer As Well As The Client Is Able To Acknowledge
You could have recently learned that you simply or your loved one has mesothelioma, a sort of cancer which is acquired with the exposure to asbestos. Once you inhaled asbestos fibers and it also enters your lungs, it tears the lung tissues and causes the increase of cancer cells. A number of people may link smoking cigarettes with mesothelioma but there really is no direct cause and effect relationship that exists involving the two.

What you should remember is that it can make your circumstances worse however it won't actually cause it. If you have these kinds of disease, you need to already participate in treatments and other medical sessions that will help you live through it. You may also consider using a mesothelioma lawyer since the group which could have cause your contact with asbestos may provide you with settlement fees and this can be a big assist in paying all of your medical bills.If you wish to obtain a bigger amount of the settlement fee, you should be capable of making your case stronger. This can be accomplished through hiring a mesothelioma lawyer. By using the expertise and technical knowledge of a mesothelioma lawyer, you may make your case stronger and obtain a larger amount from your company. Although the claims can vary from one situation to the other, it's also advisable to understand that not all mesothelioma lawyers may help you out while there is a needed level of experience before a legal counsel could make your case win. Also, you should think about that the generalized lawyers may not know other technical elements of a mesothelioma case.

mesothelioma abdominal
Thus, it's still better that you hire a specialized mesothelioma lawyer to ensure that he is focused on your case and he knows what actions should be done best. Using the specialized and experienced mesothelioma lawyer, it is possible to feel more assured that he already had other experiences with all the case so he already have a perception on which way should be done to make the case more favorable for you personally.There are plenty of mesothelioma lawyers that could handle your case. One individual may have a benefit within the other. You need to then ensure that you have checked out the qualifications of as many mesothelioma lawyers as you possibly can. This will be relevant to be able to choose the one that will provde the best service. You will also have to check if you can discuss with the mesothelioma lawyer that you're considering because a constant communication and understanding could be needed to make sure that the both of you know very well what the goal of the situation is.

mesothelioma cancer
When the mesothelioma lawyer as well as the client is able to acknowledge the target, the lawyer can now result in the necessary actions to achieve the goals and the client would freely cooperate with the process.When these considerations are kept in mind, getting the right mesothelioma lawyer handling your case would then be a simple task. You'll have to prepare for the case so that you will get the results which you are required. Read More

Peritoneal Mesothelioma (Abdominal Mesothelioma) | Pleural Mesothelioma + Blogspot.Com


Lawyers for peritoneal mesothelioma
About 10 to 20% of mesothelioma tumours develop in the wall of the abdomen. This type of mesothelioma is called peritoneal mesothelioma.

The only known cause of peritoneal mesothelioma is exposure to asbestos, a mineral commonly used in fire retardant and insulating materials. The asbestos fibres May find their way into the abdomen by ingestion or by the migration of lungs.

Peritoneal Mesothelioma can be either benign or malignant. A diagnosis of peritoneal mesothelioma malignant (cancer of the abdomen) is very serious. Historically, there has been less than two average survival for patients diagnosed with malignant peritoneal mesothelioma. With modern surgery and chemotherapy treatments have become available in recent years, however, the outlook is gradually improving. The best chemotherapy for mesothelioma involves treatment with Alimta and cisplatin. Surgical "debulking" of the abdominal tumor tissues May also be an option. We believe it is important to consult a doctor knowledgeable about the latest advances in the treatment of mesothelioma to ensure the best chance of long-term survival.

If you or a loved one was diagnosed with malignant mesothelioma, peritoneal cancer, please contact our lawyers as soon as possible. We will make arrangements to fly home anywhere in the USA within a few days. In most cases you will not have to travel or even in court. We will thoroughly investigate your case and take the deposition video. You will not have to pay attorneys' fees, unless we get a financial settlement. Read More

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