The prosecution claim economic

The Prosecutor’s Office of Galicia claim during the trial to be held in the coming months, an economic evaluation and environmental damage caused by the oil spill following the sinking of the tanker Prestige last eight years in the Galician coast.

The Prosecutor’s Office of Galicia claim during the trial to be held in the coming months, an economic evaluation and environmental damage caused by the oil spill following the sinking of the tanker Prestige last eight years in the Galician coast.

The prosecution, for the first time, will put on the table of a tribunal such issues for the court to decide and assess the environmental damage integral, today announced the senior prosecutor in Galicia, Carlos Varela, after presenting in A Coruña memory of this entity.

The prosecution needs to take into account parameters such as economic losses in sectors such as fishing, shellfishing and tourism, as well as to natural conditions, ecosystems, species and even human health. Read more »

Collateral economic damage

Last week, the “collateral damage” of the Iraq war on the economies of the region began to become evident. American Airlines, the carrier’s largest passenger airline in the region are reducing their flights may be about to enjoy the protection of Chapter 11 (bankruptcy). BWIA, LIAT and Air Jamaica, are also under pressure and need more Government funding. The problems are not a reflection of the economic uncertainty caused by war, especially in traffic and tourism in the region.

In the months leading up to military action, predictions about the general economic impact depended on whether the presumption of the conflict would be short and relatively simple, or if instead it would be long and complicated. On the eve of the conflict immediately, global markets experienced huge increases in the stock market, while oil prices collapsed, saying earlier market expectations of a quick victory for the coalition. This forecast was based on a widely publicized capitulation Iraqi forces, the collapse of the administration of Saddam Hussein, making the oil fields of Iraq and establishment in the country of a democratic government, pro-Western. The restoration and expansion of Iraqi oil production under the control of the West, undermine the monopoly of the Organization of Petroleum Exporting Countries, and bring the real price of this line to the low levels were reached before 1973. This will stimulate global markets for the bag, boost investment and international trade, which would lead to a rapid global economic recovery and sustained, including tourism, because the world would become a safer place.

In To the extent that the war is entering its third week, this scenario seems less and less likely. The determined resistance from Iraqi forces, using a combination of conventional and unconventional methods, supports the projection points to a prolonged conflict without a clear victory. For their part, long-term effects are becoming increasingly difficult to predict, without any degree of confidence. For example, a prolonged conflict would increase the financial costs of military action and could have a substantial impact on the budget deficit U.S. Possible consequences include pressure on the U.S. dollar, interest rates in USD higher and greater global economic instability.

Another possible consequence would be related to trade negotiations in the international arena. Some fear that the political ruptures generated by military action can be extended to the preparations for the upcoming Ministerial meeting of the World Trade Organization, and that indirectly affect the growth of world trade activity. Others believe that this is unlikely, since all countries are concerned that the meeting will achieve successful results. A projection problem is the increased risk of terrorism. The highest incidence of loss of civilian life and the physical occupation of Iraq by western forces could lead to an increase in the ranks of potential terrorists than the type of fans of Al-Qaeda to include Arab and Muslim moderate persuasion, which would lead to greater fears about the safety of air travel.

None of them are intended consequences, but a priori planning responsible and realistic demand that they be taken into account in political and economic equations. In light of this situation, regionalism in the Wider Caribbean will face is new and unprecedented. The difficulties being experienced by airlines in the region, for example, underscore the urgent need to implement a plan of integration of regional airlines, or at least a plan of cooperation. For years it has been proposing a plan like this, argued by studies that show the tangible benefits that would accrue from cooperation.

The alternative to such integration / cooperation is that one or more airlines to declare cease and no longer offers services. There is also the possibility of foreign takeover, which the region would become even more dependent on foreign conveyors. Any of these alternatives have negative implications for regional tourism.

Repercussions, economic harm to Federal Bank customers has led to the intervention of this

It is irreparable economic damage, disruption to the Venezuelan state has created with his speech to the Federal Bank for all the clients of this, especially when a significant number of customers placed their savings through interest that increase their capital, others deposited their pension , the capital, won for a lot with a great effort.

As the Bank intervened by order of government through the Guarantee Fund of Deposits and Banking Protection (FOGADE) as for some has been more political than economic, the harm to customers is very representativosignificativo only been recognized amount of thirty million Bolivars and those with more than this amount have not received the rest, or prompt payment looms about, affecting many in the plans that were pressed to make, home purchases, investments in different rubles emergency

The damage is so serious that it violates the rights of citizens to capital that belongs to you, it has been for many hard-earned, work and to be removed regardless of the consequences that would be created, endorsed the abuse of power, almost like mugging the innocent and seize what belongs to him.

What does the State with respect to this?

According to the Minister of Popular Power for Planning and Finance, Jorge Giordani, all this is due to poor management and operation of the Bank, there is a capital loss amount of 4 000 515 million bolivar fuerte, “which are significant figures to which the government of President Hugo Chávez and institutions have to come in legal and in accordance with the laws of the country.” Read more »

Paralysis air exceeds the economic damages of 11-S

Switzerland canceled over 1,500 flights since it began the journey of Eyjafjalla Icelandic volcanic ash in European skies. The economic damage to the Old Continent could reach 2,100 million Swiss francs.
The airports of Zurich and Geneva have lost 3.5 million francs for each 24 hours of paralysis, which exacerbate the crisis of many airlines. The European Commission offered help, but no one has even numbers.

Eight million passengers affected and at least 82,500 international flights canceled: the first resulting in paralysis balance air that caused the wake of the Icelandic volcano Eyjafjalla in the Old Continent, according to the European Organisation for the Safety of Air Navigation (Eurocontrol ). The issue of property loss still causes an uncomfortable silence for the effect of ‘cascade’ that caused it. They lost the airlines, airports and businesses that operate in its facilities, exporting firms that were stranded products, and tourism among other sectors. Only in Switzerland, the number of canceled flights was over 1,500 in five days. According to the International Air Transport Association (IATA for its acronym in English), the damage will add the equivalent of 1,500 million Swiss francs, which exceed the economic effect did the terrorist attacks of September 11, 2001, which keeps air activity for 72 hours. And riskier sources such as the Centre for Asia Pacific Aviation (CAPA for its acronym in English), put the toll at 2,100 million francs or more. Product Thus, growth of GDP and European Swiss – could be cut by 0.3% during the second quarter, according to Andreas Hofert, an economist at UBS Geneva citing the newspaper ‘Le Temps’ in its edition today. Damage to the expert’s opinion that is still manageable. Read more »

Economic damage earthquake in Japan

Undoubtedly the issue of time is the tsunami and earthquake in Japan, which puts this country in the global news, which is why you play these days often speak of the economic damage from the earthquake in Japan .

This devastating historic earthquake in Japan, and ranking as the largest in its history, naturally generates huge losses already estimated in excess of 100,000 million dollars, and suffer the Japanese economy which will involve a cost to rebuild Japan .

In addition, the insurance industry will face costs of up to 34,600 million in insured property damage to such natural events. AIR Worldwide and Eqecat , are responsible for providing data from schemes that are responsible for calculating exposures disasters for insurers , as well as reinsurers, brokers and financial markets. Read more »

Injury and Economic Damages

What is personal injury and damage which can be as personal injury and economic damages stories. These are the questions you get when you make physical or mental harm increases, due to an accident, medical error or a crime. The damage is so great that one time you can not work or becomes permanently disabled. A proper calculation of the injury and personal injury compensation is of great importance. Story injury the right people, because you are entitled to.

Any damage caused by an incident that someone may be liable for damages recoverable. This is material, but immaterial damage. The relatively small costs such as damage to clothing, but also big expenses because you or temporarily not working or you becoming disabled. Common forms of permanent injury are:

* Concentration problems.
* Back pain.
* Whiplash.
* A vision deteriorated.
* It must be missing a limb.

Reported to the drivers of economic damage to tourism unemployment

The association ‘Me? Andaluz Product! ” Today has brought in the Court of Guard in Malaga a criminal complaint against air traffic controllers for the economic damage to tourism in Andalusia d uring their “wildcat” , which caused the closure of airspace over the bridge in December.

The complaint is based on “prejudice to the regional economy” and “bad image internationally in the region caused by the strike of the drivers, he told Efe the president of the association, Bartholomew Florido.

According to the complaint, which had access Efe, during the closure of airspace “important tourist destinations of Andalucia were” seriously damaged financially, “not only because they stopped billing “huge amounts of money,” but for ” great and terrible damage “caused to his image.

The economic damage

The economic damage caused by natural disasters in 2010 was about 109,000 million, a figure three times higher than the previous year, according to a report released Monday by the UN also said that Chile and China are the ones who took the worst.

Some 373 natural disasters killed more than 296,800 people last year, affecting about 207 million more, according to the report, based on data from the Center for Research on the Epidemiology of Disasters (CRED, for its acronym in English .)
The two events are more deaths caused the earthquake that occurred on January 12 in Haiti – over 225,000 – and the summer heat wave that occurred in Russia – about 56,000 – have become year 2010 more deaths from disasters for at least two decades.

The 8.8 magnitude earthquake that struck Chile in February cost about U.S. $ 30,000 million, while floods and landslides in China last summer caused a loss of 18,000 million dollars. These figures are far from those in the floods in Pakistan between July and August (9,500 million) and the earthquake in Haiti (8,000 million).

However, total economic losses of 2010 have surpassed those of 2005, when only the damage caused by Hurricanes Katrina, Rita ‘and’ Vilma ‘amounted to 139,000 million dollars. In 2008, the earthquake in Sichuan (China), caused economic losses valued at 86,000 million dollars, bringing the total this year to 200,000 million. Read more »

The economic damage from the airport chaos be less than the Icelandic volcano

Law Office of Cohen & Jaffe LLP

Sebastian announced that would be expected to finalize the Bridge of the Constitution to make a “real balance.” Anyway, wanted to point out that 90% of Spanish tourists was not affected, since only 10% would use the plane these days. With regard to foreign visitors, noted that in December expected 2.8 million passengers, but more than 75% by the end of the month, so the impact would not have been very important. Along these lines indicated that rural tourism, urban and resorts were “limited impact”, while the most affected were the islands and coasts.

The comparison with the losses from the Icelandic volcano was already mentioned on Sunday, as Hosteltur collected by the Development Minister, José Blanco, who explained that the ash cloud had a greater impact because not only Spanish airports were closed but who were particularly affected by the closure of European airports.

The image of Spain

On Spain’s image abroad as a result of these developments, Miguel Sebastian said that it will not be damaged, due to the good reception from the foreign press reaction “clear and convincing” to declare a state of alarm . It is not ruled its extension beyond the 15 days originally planned.

So, was optimistic that there are no cancellations for future dates, because in his words, government measures have enabled the country to have “credibility” to the foreign tour operators. Read more »

Japan economic damages greater than expected

The economic damage of the great Japanese earthquake and tsunami of last month is likely to be worse than the first estimates by energy shortages, restricted to the factories that disrupt supply chains, warned Tuesday the economy minister.

Japan raised the seriousness of the nuclear crisis in the Fukushima Daiichi Nuclear Power Station at a level from 7 to 5, putting it on par with the nuclear disaster at Chernobyl in 1986.

The governor of the Bank of Japan said the economy was in “serious condition”, while the central bankers were not sure that efforts to rebuild the tsunami-devastated northeast could boost growth, according to minutes of a meeting of three days after an earthquake hit Japan to record March 11.

The government and the main opposition party have agreed on a spending package for the reconstruction work, but the establishment of a large supplementary budget will be difficult due to the heavy debt burden in Japan. Read more »