Showing posts with the label Economy

The European Austerity Poem

As a historical European economic crisis unfolds before our very eyes and we see a shift of real power move to Asia, here is a fitting poem that I wrote to capture the light side of this new reality:

Who will tell the Greeks they will have to go Bust?
It seems that the euro may no more be a Must!
It's the EU austerity answer to prevailing economic disaster,
Tax more of the same and cut everything that we Trust.
Emotionally complex Italians are beginning to Shrink!
And who will inform the Swiss they are no longer in Sync?
Regardless of grandiose desires, it now bitterly transpires,
That the once ice cool will soon fade, melt or Sink!
There's nothing like the sound of the shallow jumping in at the Deep!
As the countries on the edge are beginning to Weep!
Seeking a Political womb or Troika counseling room,
In the end, the people contribute more than they Keep!
Who will advise the non-elected EU commissions they were never in Demand?
And that the power of the vote should be the only C…

Daring to fly with Ryanair!

Inappropriately dressed in a suit coming straight from a management training session onboard a cruise ship, I threw caution to the wind and embarked on a courageous Ryanair flight from a miserably equipped Palermo Airport (especially in the non Schengen area), which is far from the busy town center and takes over an hour's drive during peak time.

It would be true to say however, that the route and time of my flight was convenient and as such my Corporate travel team rightly presented it as the best option.

It soon dawned on me however that in essence Ryanair is an acronym...

R - Rushed Y - Yellow A - Annoying N - No Sanitation A - Animal-like I - Irritating R - Rip Off
Let's take a look at the detail...

The moment that there was the slightest stirring of the inadequate embarking counter a rush or more like stampede occurred of people jostling for position in a human fragmented line. From my perspective the flight did not appear to be full, so it was difficult to…

Cheap flights and their principles - Why are they so cheap?

There are several low cost airlines around the world. However, all differ in their service and what they offer but many of them are following specific principles in order to lower their costs and gain money.

For all those wondering why some airlines are cheaper than others, we present you some of their key principles and we explain how do they manage to offer cheap flight tickets to travelers.
Standardized fleet: This might include lower training, lower maintenance costs, purchasing many aircrafts in order to achieve a discount. Another key principle is to keep only the essential features. Some of these might be reclining seats, pilot auto-throttle and frequent flyer schemes. They prefer to use secondary airports that cost less, in order to decrease their landing fees. Many low-cost airlines prefer to have many flights per day in order to be as less time on the ground as possible and pay lower airport charges. They also achieve to reduce their costs by not having calling centers and…

The scourge of Shrinkflation eats away at the man in the street like a cancer!

The authorities that be in the US, UK and much of Europe are currently managing their respective economies on the basis of maintaining low interest rates and especially in the case of the US, flooding the system with money, now termed as "Quantitive Easing". 
The next stage of the cycle is likely to be high inflation, however the main manufacturers of food, beverage and household goods are desperate to keep reporting profits in a never ending cycle of perceived growth, which is for many of the wrong reasons considered a good thing.

In the current economic reality, many of the manufacturers in the West realize that profits cannot be achieved by simply raising prices. Subsequently, they are turning to a subtle Shrinkflation, which is where the prices are stay the same, but the items on sale are shrinking in size, value or quantity. 
Just consider for a moment what is happening across the Western world right now...manufacturers and retailers are subtly introducing reduced size…

Top 15 Countries by Most Spending on Tourism

Tourism for many countries is an important aspect and a major source of revenue. Especially for many of them such as Cyprus, Macau, Luxembourg, Bahamas, Italy, Malta and Austria is crucial to gain as much tourists as possible in order to be able to survive financially. At the same time, is also essential to target the right countries that are going to bring to them the most possible revenue as possible. But which tourists seem to spend more money during their holidays?

According to a research conducted by the World Tourism Organization (UNWTO), at number one it’s the Chinese who spend $102 billion on their travels. This can be considered as normal compared to their population. In the second place are the German tourists, who spend almost $84 billion and in the third position come the Americans, who spend $83.7 billion.

Below are the Britons with $52.3 billion, Russians with $42.8 billion, the French with $38.1 billion, Canadians with $35.2 billion the Japanese with $28.1 billion, Aust…

Bad news for investors and business owners in Cyprus

It's bad news all around for investors and businesses in the Island of Cyprus and we hope that not too many PT's got caught out!
It appears the Government as of Saturday 16th of March will trade the rights of depositors' (both resident and overseas) hard earned savings, to resolve the Banking mess and the excesses of Government expenditure. 
Having just been elected, the new right wing Government wasted no time in striking a deal with the EU and international lenders, which amounts to a Cyprus bailout worth 10 billion euros. To make it happen all depositors have been severely penalized for trusting the banks of Cyprus with their money and the Government to protect their private financial rights. The problem in Cyprus was not caused by the depositors, however this draconian rule will in reality mean the following: Depositors with over 100,000 euro in the bank will as of next Tuesday be 10% worse off.Depositors with less than 100,000 euro in the bank will as of next Tuesday …

Swiss Government continue to take measures to maintain a weak Franc

The Swiss National Bank (SNB) has retained a strong stance in terms of its national currency the Franc. The Franc has performed particularly well when pitched against the Euro in recent times, so the SNB has taken measures on a number of occasions to maintain the currency as weak as possible, to stimulate the country’s exports.
The Bank has mainly been focusing on the exchange rate with the Euro, as this region is the one where most Swiss export transactions take place. The price floor in the EUR/CHF currency pair at the present time is seen to be at around the 1.20 mark. Prices have been around this region (with very low volatility levels) for a long time this year.

However, people involved in the market of selling positions have impacted on this price floor, as the Swiss Franc, brief though it was, rose above the 1.20 when up against the Euro. It briefly brought the credibility of the central bank into question and raised the idea that we could see other price floor breaches in the …