How to Fix Greece Crisis
Selected points from an article by VITO J. RACANELLI in Barron's
Europe should make Greece restructure its debt -- swiftly.
Greek debt stood at 143% of its annual economic output at the end of last year. But as the nation's economy shrinks, the ratio only gets worse, creating a painful downward spiral. The country has no room for error. If Greece's economy contracts as expected this year, its debt will rise to 160% of GDP next year. Even if Greece executes the bailout plan perfectly, slower-than-projected growth or higher interest rates could push the ratio towards 180% in a few years, say Citigroup and the IMF.
Last week, in its latest Band-Aid attempt, the government announced new austerity measures that will extract a further €6.4 billion ($9.1 billion) from its reeling economy -- through job and wage cuts, and new taxes -- a desperate effort to make up for missed budget targets set in last year's €110 billion bailout by the EU and International Monetary Fund.
Europe should make Greece restructure its debt -- swiftly.Greek debt stood at 143% of its annual economic output at the end of last year. But as the nation's economy shrinks, the ratio only gets worse, creating a painful downward spiral. The country has no room for error. If Greece's economy contracts as expected this year, its debt will rise to 160% of GDP next year. Even if Greece executes the bailout plan perfectly, slower-than-projected growth or higher interest rates could push the ratio towards 180% in a few years, say Citigroup and the IMF.
Last week, in its latest Band-Aid attempt, the government announced new austerity measures that will extract a further €6.4 billion ($9.1 billion) from its reeling economy -- through job and wage cuts, and new taxes -- a desperate effort to make up for missed budget targets set in last year's €110 billion bailout by the EU and International Monetary Fund.
New iPhone App to Read Credit Cards
An article by BEN ROONEY in Wall Street Journal
A
device that allows anyone with a mobile phone to receive payments from
chip-enabled credit or debit cards is to launch in Sweden next month.
The idea, says Jacob de Geer, CEO and co-founder of iZettle, is to empower not only the 20 million small businesses across Europe that accept only cash payments, but to allow anyone with an iPhone to receive payments. Currently smart card readers cost from €200 ($285) and up. IZettle plans to give away its software and reader, and take a transaction cut.
The smart card reader plugs into the iPhone's port. Using the device is similar to using any card device except rather than use a PIN to authorize payment, the customer signs the screen. IZettle wanted to use a PIN, but "PIN is still not allowed in cellphones and iPads," said Mr. de Geer.
A
device that allows anyone with a mobile phone to receive payments from
chip-enabled credit or debit cards is to launch in Sweden next month.The idea, says Jacob de Geer, CEO and co-founder of iZettle, is to empower not only the 20 million small businesses across Europe that accept only cash payments, but to allow anyone with an iPhone to receive payments. Currently smart card readers cost from €200 ($285) and up. IZettle plans to give away its software and reader, and take a transaction cut.
The smart card reader plugs into the iPhone's port. Using the device is similar to using any card device except rather than use a PIN to authorize payment, the customer signs the screen. IZettle wanted to use a PIN, but "PIN is still not allowed in cellphones and iPads," said Mr. de Geer.
Android Users Affected by New Variant of Droid Dream "Light" Malware
NEWYORK Times reported
that, between 30,000 and 120,000 users of Android devices are believed
to have been affected by new mobile malware which has its roots in an
earlier scourge known as Droid Dream. This variant, called Droid Dream
Light, appears to have been created by the same developers whose malware
had infected over 50 applications back in March.Droid Dream Light is a stripped down version of the original DroidDream, says Lookout. Its malicious components are invoked upon the receipt of a "android.intent.action.PHONE_STATE intent". In other words, despite the malware's designation of "Light," in some ways it's actually more malicious as it requires no user actions to take place in order for it to launch.
How Credit Card Processing can Benefit your Business
Editor's note: This is a guest post from Robert Branch
It
takes a big investment to start a new business and you want to be sure
your plan is mapped out perfectly in order to succeed. Cash and personal
checks have been popular forms of payment for many years but these
days, they are being put aside for credit cards.
You should consider the importance of accepting this type of payment
because you can lose business if you do not accept credit cards.
Although investing in a retail business can be risky, the reward is well worth the effort. It is also a good idea to make your products available online. This can be very cost effective, allowing you to maximize your investment and earn profits faster. When opening this type of business, you need to consider and plan for the major components involved in this type of business. These are accepting and shipping orders, and processing credit cards and other forms of payment.
It
takes a big investment to start a new business and you want to be sure
your plan is mapped out perfectly in order to succeed. Cash and personal
checks have been popular forms of payment for many years but these
days, they are being put aside for credit cards.
You should consider the importance of accepting this type of payment
because you can lose business if you do not accept credit cards.Although investing in a retail business can be risky, the reward is well worth the effort. It is also a good idea to make your products available online. This can be very cost effective, allowing you to maximize your investment and earn profits faster. When opening this type of business, you need to consider and plan for the major components involved in this type of business. These are accepting and shipping orders, and processing credit cards and other forms of payment.
Debt-Free Forever by Gail Vaz-Oxlade
TIRED of getting to the end of the money before you get to the end of the month? Wish you were in control?If you’re afraid to open your bills, if you’ve never added up how much you owe, if you can’t even imagine being debt-free, it’s time to join the thousands of people Gail Vaz-Oxlade has helped. Her straightforward approach to money management is based on self-control, hard work, and prioritizing what’s really important. Debt-Free Forever is Gail’s step-by-step guide, and she’ll show you how to:
- Figure out how much you’ve actually been spending
- Calculate how much you owe—and what it’s costing you
- Build a budget that works
- Maximize your debt repayments so you can be free of consumer debt in 3 years or less
- Prepare for a rainy day so it doesn’t mean a major setback
- Set goals for your new, debt-free life
Windows 8 and Smartphone on Business
Editor's note: This is a guest post by Marcela Dias of webprofits
The
introduction of the new Windows 8 operating system will create a lot of
fallout, not only just in the PC market, but in the world of business
and smartphones. This article looks at some of the issues related to
this very hot topic.
The
introduction of the new Windows 8 operating system will create a lot of
fallout, not only just in the PC market, but in the world of business
and smartphones. This article looks at some of the issues related to
this very hot topic.Windows 8 and Smartphone on Business Expected to Increase
With the imminent release of the long awaited Windows 8 operating system, discussion and talk about the impact on smartphones is really heating up. Smartphones are an excellent option for anyone in business. There is a huge amount of support already for anything Windows 8, with dedicated forums to upgrade and repair Windows 8 already in operation. In this article, we look at some of the radical improvements you can make with your business and using smartphones to greatly reduce your costs.Reduce Your Business Communication Cost
Editor's note: This is a guest post by Marcela Dias of webprofits
There
are very real business phone systems that can be integrated for a range
of uses, from replace your standard telephone connection, to providing
file-sharing tools. Packaging your office phone system and your mobile
phone use, and getting the best deals on IP based services and data
connections, will save you ridiculously huge costs. It is highly likely
your costs will drop by 90% on a month-to-month basis. Are you paying
too much?
There
are very real business phone systems that can be integrated for a range
of uses, from replace your standard telephone connection, to providing
file-sharing tools. Packaging your office phone system and your mobile
phone use, and getting the best deals on IP based services and data
connections, will save you ridiculously huge costs. It is highly likely
your costs will drop by 90% on a month-to-month basis. Are you paying
too much?Reducing Your Business Communications Cost: Very Real Solutions are Available
In business, communications is probably the most important factor. If you are not communicating properly, or effectively, you could be limiting your potential for growth. Communications costs can get out of control, unless you make the right decisions. Thankfully, there are a couple of ways to make your costs near negligible.How to Avoid Threats to Online Business
Editor's note: This is a guest post by Marcela Dias of webprofits
In
this article we take a look at some of the common ways a business and
its online security is compromised. Solutions such as managed and
dedicated secure servers, and professional business software packages
are suggested to overcome these issues. If you don’t know if you are
definitely secure, then you know you need help.
In
this article we take a look at some of the common ways a business and
its online security is compromised. Solutions such as managed and
dedicated secure servers, and professional business software packages
are suggested to overcome these issues. If you don’t know if you are
definitely secure, then you know you need help.The Most Common Threats to Your Business Online Security and How to Avoid?
There are a number of issues related to security and having your business online. The fact is you cannot afford, not to have your business online because business software and your own managed and dedicated servers are key to streamlining your processes. Here we look at some of the attacks that often happen to small and medium businesses and how to avoid them. It is important to educate your people on these common threats and take the necessary measures.How Friends Influencing to Your Personal Finance
About Sherin; My Twitter; My Facebook Page
"A man's growth is seen in the successive choirs of his friends" - Ralph Waldo Emerson
'A
Friend in need is a friend indeed’ is a well known, fruitful proverb.
True friendship is something that is not easy to define. Have you
anytime tried to evaluate your friends in the sense of how they put
influences to your personal finance?
Of course, friends have influence to our finance to grow it in a better
way or disturbed. This article reveals some of the characteristics of
friends that can bring your personal finance to the new heights or down.
1. A Needy Friend: Such characters are everywhere. They consider the friendship and relationships are a source to get money whenever required. They would generally approach friends only when they need money. They are generally very sweet spoken to influence others to get their work done. An interesting fact is, such friends never remember to give the borrowed money back in time. If you have such friends, it is better to bypass them anyway before they cause many damages to your finance and budget.
"A man's growth is seen in the successive choirs of his friends" - Ralph Waldo Emerson
'A
Friend in need is a friend indeed’ is a well known, fruitful proverb.
True friendship is something that is not easy to define. Have you
anytime tried to evaluate your friends in the sense of how they put
influences to your personal finance?
Of course, friends have influence to our finance to grow it in a better
way or disturbed. This article reveals some of the characteristics of
friends that can bring your personal finance to the new heights or down.1. A Needy Friend: Such characters are everywhere. They consider the friendship and relationships are a source to get money whenever required. They would generally approach friends only when they need money. They are generally very sweet spoken to influence others to get their work done. An interesting fact is, such friends never remember to give the borrowed money back in time. If you have such friends, it is better to bypass them anyway before they cause many damages to your finance and budget.
Protecting Your Business by Planning Business Succession - 3 Vital Tips For Planning Your Business Succession
Editor's note: This is a guest article by Sandra Roberts
CHOOSING
a successor is never easy. It takes a lot of time and planning to
figure out who is going to take your business to the next level, and
carry it through with the same passion and dedication that brought it to
where it is today. Proper succession planning is a critical aspect to
ensuring a smooth transition. . By following the given guidelines, it
may become easier to choose your next business successor.
Here are three succession planning best practices to keep in mind.
Family, Not Always First
Though it’s reasonable to want to keep a family business, within the family, a family member should only be chosen if they are qualified and can truly handle the responsibility. A family candidate should have a similar vision to yours and demonstrate the right spirit that will move the company forward. The reality is, there are times when family members may seem ready for action, but then realize they can’t take the heat and decide to cash out and hand over the business to someone else.
CHOOSING
a successor is never easy. It takes a lot of time and planning to
figure out who is going to take your business to the next level, and
carry it through with the same passion and dedication that brought it to
where it is today. Proper succession planning is a critical aspect to
ensuring a smooth transition. . By following the given guidelines, it
may become easier to choose your next business successor.Here are three succession planning best practices to keep in mind.
Family, Not Always First
Though it’s reasonable to want to keep a family business, within the family, a family member should only be chosen if they are qualified and can truly handle the responsibility. A family candidate should have a similar vision to yours and demonstrate the right spirit that will move the company forward. The reality is, there are times when family members may seem ready for action, but then realize they can’t take the heat and decide to cash out and hand over the business to someone else.
Have You Taken These Financial Steps Before Becoming An NRI?
Editor's Note: This is a guest post from Ramalingam of Holistic Investment Planners
ARE YOU
all set to go abroad and become a non-resident Indian? Change is
inevitable. A person would be a Resident Indian so far. All of a sudden
he could become an NRi because of an opportunity in his career. One need
to be prepared for the change. This preparation alone makes the
difference between an achiever and a mediocre.
It is time for you to take step to safeguard and make arrangements for your personal finances in India before you depart. Here are a few steps that you need to take before you say bye to your country and dream of a good life abroad.
ARE YOU
all set to go abroad and become a non-resident Indian? Change is
inevitable. A person would be a Resident Indian so far. All of a sudden
he could become an NRi because of an opportunity in his career. One need
to be prepared for the change. This preparation alone makes the
difference between an achiever and a mediocre.It is time for you to take step to safeguard and make arrangements for your personal finances in India before you depart. Here are a few steps that you need to take before you say bye to your country and dream of a good life abroad.
A College Student's Guide to Credit
Editor's note: This is a guest post by Chris Faires
COLLEGE
is a time filled with a new sense of freedom and new experiences.
Students learn a lot about living on their own, being responsible
students, and managing their time. One of the most important skills
college students learn is how to handle their finances. For most
students, college is the first time away from parents telling them what
they can and cannot buy. This previously unknown level of independence
can be too much for some college students to handle. Credit card
companies and loan sharks know this, and they target college students as
their prime customers. Before you get in over your head, make sure you
know the basics of credit and how to use it responsibly.
COLLEGE
is a time filled with a new sense of freedom and new experiences.
Students learn a lot about living on their own, being responsible
students, and managing their time. One of the most important skills
college students learn is how to handle their finances. For most
students, college is the first time away from parents telling them what
they can and cannot buy. This previously unknown level of independence
can be too much for some college students to handle. Credit card
companies and loan sharks know this, and they target college students as
their prime customers. Before you get in over your head, make sure you
know the basics of credit and how to use it responsibly.Top 5 Tips For Getting a Personal Loan
Editor's note: This is a guest post from Marcela Dias of Webprofits
BUYING
your first car can be daunting -- especially if you also need to get a
loan. This article gives some helpful hints for how to get a loan and
what you need to look for.
Buying a brand new car can not only be exciting, but can also be quite expensive. These days, with living expenses so high, it can be hard to put away a lot of savings and can take years to build up a nest egg big enough to buy just an average new car outright. Banks, credit unions and other financial institutions offer the opportunity to take out a car loan, also called a personal loan, to help you fund your car purchase. While this can make the purchase a lot easier -- and can help it happen a lot quicker -- there are still quite a few factors to consider before signing on the dotted line. Here are a few areas of thought to get the process started:
BUYING
your first car can be daunting -- especially if you also need to get a
loan. This article gives some helpful hints for how to get a loan and
what you need to look for.Buying a brand new car can not only be exciting, but can also be quite expensive. These days, with living expenses so high, it can be hard to put away a lot of savings and can take years to build up a nest egg big enough to buy just an average new car outright. Banks, credit unions and other financial institutions offer the opportunity to take out a car loan, also called a personal loan, to help you fund your car purchase. While this can make the purchase a lot easier -- and can help it happen a lot quicker -- there are still quite a few factors to consider before signing on the dotted line. Here are a few areas of thought to get the process started:
How to Save Money on Energy This Summer
Editor's Note: This is a guest post by Nadia Jones
SUMMER
is right around the corner, and for those who live relatively close to
the equator, it's hard to say which is worse, the heat or the energy
bill. Luckily, there are countless energy-saving tips,
many of them free or of very low cost, that can all add up to create
significant savings in your electricity bill. Not to mention, just about
all of this tips will help save the environment as well.
Free Tips
Use your microwave
Believe it or not, microwaves are the most energy efficient cooking appliances around. They use two thirds less energy than an electric stove.
SUMMER
is right around the corner, and for those who live relatively close to
the equator, it's hard to say which is worse, the heat or the energy
bill. Luckily, there are countless energy-saving tips,
many of them free or of very low cost, that can all add up to create
significant savings in your electricity bill. Not to mention, just about
all of this tips will help save the environment as well.Free Tips
Use your microwave
Believe it or not, microwaves are the most energy efficient cooking appliances around. They use two thirds less energy than an electric stove.
The Entrepreneurial Fad: Why Starting a Business May Not Be The Right Thing For You
Editor's note: This is a guest post by Ally T of Australian Credit Cards
HAVE YOU
noticed that lately, everyone seems to be starting their own business?
It's like an entrepreneurial fad - a bandwagon that everyone wants to
jump on.
And while starting a business is the right thing for some people, to be honest, it's not right for everyone. Many people simply don't have what it takes to become successful in business and it will only disappoint and potentially damage them financially if they're not the right type of person. Here are 8 reasons that starting your own business may not be the right thing for you...
1. It's damn hard
2. You will not get rich quick
3. You may not make any money for a long time
4. You won't necessarily make money just from doing the things you enjoy
HAVE YOU
noticed that lately, everyone seems to be starting their own business?
It's like an entrepreneurial fad - a bandwagon that everyone wants to
jump on.And while starting a business is the right thing for some people, to be honest, it's not right for everyone. Many people simply don't have what it takes to become successful in business and it will only disappoint and potentially damage them financially if they're not the right type of person. Here are 8 reasons that starting your own business may not be the right thing for you...
1. It's damn hard
2. You will not get rich quick
3. You may not make any money for a long time
4. You won't necessarily make money just from doing the things you enjoy
How to Backup Facebook Data
IS THERE
any method to back up your Facebook data, the way like saving e-mail
and documents? Yes: Facebook has a built-in archival system which works
better than the live site at digging up old messages.To get a backup file of your Facebook data, login and select Account -> Account Settings from the upper right corner of your Facebook page. Near the bottom of the Account Settings page is a section labeled Download Your Information. Click the Learn More link next to it. Facebook will display a page that explains how the company will create a ZIP file of the data in your account, and notify you by e-mail when it is ready. Click Download Now to begin the process, which in my tests took one to two hours each time.
After Earthquake, Japan Faces Recession
AFTER THE
mass destructive earthquake and tsunami, Japan now facing a severe
economic recession which took down the economic growth to a low level of
3.7% annualized rate in the January-March period.In the aftermath of the earthquake, the country’s production lines were crippled and it faced a debilitating energy shortage, in part because of the subsequent shutdown at the Fukushima Daiichi nuclear plant. Economists project that Japan’s economy will shrink again in the current quarter, which ends in June, as production continues to falter and weigh on industrial output and exports.
The March quake and tsunami hit the country's relatively rural northeastern areas, destroying factories and power stations in the region, but its impact was felt nationwide as critical supply chains were paralyzed.
New Programs to Make Your Kids Smart in Finance
HOW CAN YOU prepare your child to make dollars and sense of a tumultuous economy? Start as early as possible.Financial experts say it's essential to get kids on the road to financial literacy at an early age. And schools, banks and other organizations are doling out new programs with that goal in mind.
Junior Achievement, a nonprofit that educates students about the economy, runs a nationwide BizTown summer camp where kids work with teachers and volunteers to create a simulated economy. Kids ages 10 to 14 work pretend jobs, such as bank teller, product developer or CEO; pay rent for their space; make bank deposits; and balance a personal checkbook. The camp costs $225 to $269 per week. (Go to www.ja.org/Programs/programs.shtml.)
Amazon Trade-In Program Now Opened for Electronics
Amazon.com
today announced the Electronics Trade-In Store, offering customers a
new way to conveniently trade in used electronics for Amazon.com Gift
Cards. The Electronics Trade-In Store enhances Amazon's existing
Trade-In program, giving customers great value on everything from video
games and DVDs to textbooks and now electronics, without visiting
multiple stores. Starting today, customers can trade in electronics,
including tablets, cell phones, MP3 players, cameras, GPS devices and
more. With Amazon Trade-In, only one box is needed to ship multiple
items and shipping is free. How to Apply for Obama's Home Loan Modification Plan
Editor's note: This guest article contributed by Mark Tye
BACK IN 2009
in an attempt to help an estimated 9 million families stranded in deep
water with no help in sight, President Obama authorized $75 billion
bucks into the "please help me" pool, and designated it a mortgage
relief plan. Would this money life preserver save every homeowner? Would
it turn the tide of the massive foreclosure wave that hit the country?
It helped, but it acted more as a band aid than a cure.
What was this "money pot" supposed to really do? The answer is simple enough. Help hard hit states like Arizona, Nevada, and other desperate states stem the tide of foreclosures and stop or at least temporarily halt a widening recession. Headlining this Obama $75 million dollar loan modification program was an initiative that provided incentives to mortgage lenders to convince them that taking advantage of this loan modification opportunity might be able to save millions of homeowners who are on the verge of foreclosure - even bankruptcy.
BACK IN 2009
in an attempt to help an estimated 9 million families stranded in deep
water with no help in sight, President Obama authorized $75 billion
bucks into the "please help me" pool, and designated it a mortgage
relief plan. Would this money life preserver save every homeowner? Would
it turn the tide of the massive foreclosure wave that hit the country?
It helped, but it acted more as a band aid than a cure.What was this "money pot" supposed to really do? The answer is simple enough. Help hard hit states like Arizona, Nevada, and other desperate states stem the tide of foreclosures and stop or at least temporarily halt a widening recession. Headlining this Obama $75 million dollar loan modification program was an initiative that provided incentives to mortgage lenders to convince them that taking advantage of this loan modification opportunity might be able to save millions of homeowners who are on the verge of foreclosure - even bankruptcy.
5 Biggest Credit Card Mistakes
Editor's note: This is a guest post contributed but Mike Brains
THERE IS
something exhilarating about receiving a brand-new credit card in your
mailbox with a healthy credit line. A whole world of options opens up
right in front of you as soon as you open the envelope and out pops this
little plastic card. You may have visions of redecorating your bedroom,
taking a much-needed vacation, or visiting your favorite restaurant for
a romantic dinner. However tempting these visions are to you, using a
credit card for those reasons could be a very big mistake.
The average person is almost $15,000 deep in plastic, and the numbers are rising every year. The statistics are alarming. Before you take out that pretty little plastic card and wreak some financial havoc, take a look at the 5 biggest credit card mistakes to avoid.
THERE IS
something exhilarating about receiving a brand-new credit card in your
mailbox with a healthy credit line. A whole world of options opens up
right in front of you as soon as you open the envelope and out pops this
little plastic card. You may have visions of redecorating your bedroom,
taking a much-needed vacation, or visiting your favorite restaurant for
a romantic dinner. However tempting these visions are to you, using a
credit card for those reasons could be a very big mistake.The average person is almost $15,000 deep in plastic, and the numbers are rising every year. The statistics are alarming. Before you take out that pretty little plastic card and wreak some financial havoc, take a look at the 5 biggest credit card mistakes to avoid.
5 Tips On What To Look for In Your Short-term Loan
Editor's note: This is a guest article by Sachin
THERE ARE
a variety of companies out there offering you more ways that one to get
into debt to them. There are a lot of offers and some of them seem too
good to be true. Whether they are called pay-day loans or fast loans,
you want to be absolutely certain that you have the funds to repay the
amount of money on time. Here are some points to consider, look for, and
be on the look out for when getting your loan.
• Credit rating. With small amounts of money there might not need to be any reason to dig into your credit history. For those of us who have fallen on the wayside, it can be hard to get ahead even if you have paid a debt off. Look for reputable companies that are not interested in your credit history for small amounts of money where possible.
• Fine print. When I think of fine print, and especially when I see fine print, I think of the same thing. Why did they write this part of the contract in small writing? The answer is simple. Because they don't want you to read it. For those of you who have poor eye sight this can be particularly annoying. Why fine print has not been made illegal, it still amazes not just me. Modern day contracts should be written in plain and easy to understand language. If there is fine print, consider going to another company.
THERE ARE
a variety of companies out there offering you more ways that one to get
into debt to them. There are a lot of offers and some of them seem too
good to be true. Whether they are called pay-day loans or fast loans,
you want to be absolutely certain that you have the funds to repay the
amount of money on time. Here are some points to consider, look for, and
be on the look out for when getting your loan.• Credit rating. With small amounts of money there might not need to be any reason to dig into your credit history. For those of us who have fallen on the wayside, it can be hard to get ahead even if you have paid a debt off. Look for reputable companies that are not interested in your credit history for small amounts of money where possible.
• Fine print. When I think of fine print, and especially when I see fine print, I think of the same thing. Why did they write this part of the contract in small writing? The answer is simple. Because they don't want you to read it. For those of you who have poor eye sight this can be particularly annoying. Why fine print has not been made illegal, it still amazes not just me. Modern day contracts should be written in plain and easy to understand language. If there is fine print, consider going to another company.
No comments:
Post a Comment