The Corliss Group Barcelona and Hong Kong Financial News Magazine talks about Bershidsky's View From Europe

Source Link: http://www.bloomberg.com/news/2013-09-09/bershidsk-ys-view-from-europe.html

Investors pour money into European securities. 

According to Goldman Sachs research, U.S. pension funds and other institutions invested $65 billion in European equities in the first half of 2013, the highest since 1977 in that period. Now, there is a boom in European corporate bonds: In the last two weeks, $29 billion has been invested in 39 issues of these securities. Switzerland's Nestle and Norway's Statoil were among the issuers, raising a combined $2.4 billion. Europe is clearly the new investment fashion, even though equities have appreciated significantly since last year and worries about the state of the European economy have not been dispelled. Investors now fleeing emerging markets to invest in Europe may soon have to deal with a ripple effect, though: A third of the big European companies' revenues come from emerging markets.

Russian opposition in biggest electoral success since before Putin.

About 7000 election campaigns ended in Russia on September 8, the biggest of them for Moscow mayor. Kremlin appointee Sergei Sobyanin narrowly avoided a second round of voting against opposition leader Alexei Navalny, who is refusing to recognize the result, claiming fraud. In at least four cities, including the important city of Yekaterinburg in the Ural Mountains, President Vladimir Putin's United Russia party suffered defeats. Western-style election campaigning and public politics are returning to Russia after a 13-year lull caused by Putin's undisputed leadership. Though his grip on power is still strong, the opposition is beginning to gain momentum.

France to tax households an extra $13 billion in 2014. 

France's 2014 budget is entering the final round of discussions, with corporate taxes planned at roughly the same level as this year and an extra $13 billion in levies on households. These come from the cancellation of income tax exemptions for the parents of students, a rise in pension contributions, the inclusion of corporate health insurance in the income tax base and a spate of other measures. While Francois Hollande's Socialist government has realized that it cannot keep raising taxes on business if it wants unemployment to go down, it is about to deal a new blow to economic growth by undermining demand.

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