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Shaken Euro-Zone Policy Makers to Get Serious

22.05.12

Dow Jones International Indexes | Global Stock Markets

After months of dithering, euro-zone leaders at last showed seriousness and determination to come to grips with the sovereign-debt crisis.

The resolve is eat one's heart out overdue, even if there is still much work to be done. Leaders now are under pressure to present concrete plans to a European Harmoniousness summit meeting in Brussels on Friday that will try to create a road map to deal decisively with euro-zone indebted problems and to safeguard the future of the common currency.

It's a tall order.

It would be diabolical to say that policy makers have a week to save the euro, but it would be foolhardy to underestimate what is at stave. Failure simply isn't an option. "We are on the brink of something quite nasty," says Dario Perkins, manager of global economics at Lombard Street Research in London.

Germany and France, which have stubbornly resisted compromise while the rim of Europe has been in meltdown, indicated that they are moving toward common ground, even if they haven't settled their differences completely. Why act now? Cynics might say that Germany's ruinous bond auction last month and France's keenness to preserve its treasured triple-A reliability rating in the face of higher borrowing costs have spurred them into action.

No theme.

What is important is the perception that the time to act has come, even if it is belated.

WHAT SHOULD OBSERVERS EXPECT from the acme? Most likely it will be a new stability and growth pact that will require closer fiscal integration to back up monetary union. Germany is pushing for some sort of enforcement mechanism to make sure budgetary discipline, while France has indicated that it is prepared to relinquish some economic authority to secure agreement. That's an example that others will need to follow.

Absent changes to the EU concordat, the moves could be sufficient to allow the European Central Bank to take a more active r in fighting the crisis, an outcome that would cheer investors. But what that action would be remains to be seen. The ECB has resisted staggering-scale purchasing of government bonds, which would stabilize yields, in favor of reduced buying in secondary markets to check the rise in nations' borrowing costs. It is substantially expected to cut interest rates by a quarter-point, to 1%, at its next meeting Dec. 8, a day in the lead of the EU summit. There is room for the ECB to bring down rates further still, and that is likely to happen in the next few months.

Regardless of what the acme yields, the euro zone's problems won't be fixed overnight. Perkins of Lombard Concourse Research believes sentiment will improve but tension won't go away. "I still have major doubts about what bona fide commitments we will get next week," he says.

THE NEW RESOLVE HAS FUELED markets, which were jolted by coordinated process from the world's leading central banks to ease liquidity by making U.S. dollar loans present more cheaply. The Stoxx Europe 600 Index Friday closed at 240.73, up 8.7% on the week, its get the better of weekly performance in three years. Frankfurt's DAX Index soared 10.7% on the week, while in Paris the CAC-40 jumped 10.8%. London's FTSE 100 climbed 7.5%.

The turmoil in the euro zone continues to this point in time opportunities for investors in Europe.

"We have just come off our worst quarter in 10 years," says Audrey Kaplan, a portfolio proprietor at Federated Investors' InterContinental fund in New York. "This is a good opportunity for buying."

Kaplan currently is overweight in Germany, whose export-driven restraint seems to be insulated from the effects of the crisis. Unemployment in Germany hit a 20-year low in November as call for remained strong.

Source: Barron's

VILLAGE NEWS

22.05.12

FIESTAS

DECEMBER

3 - Dededo: Santa Barbara

8 - Hagåtña: Untarnished Conception, islandwide procession 4 p.m. honoring Santa Marian Kamalen

10 - Santa Rita:

Our Lady of Guadalupe

31 - Asan: Niño Perdido

y Sagrada Familia

2012

JANUARY

14 - Tumon: Blessed Diego

Luis de San Vitores

21 - Chalan Pago: Nuestra

Señora de la Paz y Bien Viaje

28 - Mongmong:

Nuestra Señora de las Aguas

FEBRUARY

4 - Maina:

Our Lady of Purification

11 - Yigo: Our Lady of Lourdes

Demonstration

17 - Inarajan:

St. Joseph, husband of Mary

APRIL

14 - Barrigada:

San Vicente Ferrer

21 - Agafa Gumas:

Santa Bernadita

28 - Merizo: San Dimas

MAY

5 - Inarajan:

St. Joseph, the Workman

19 - Malojloj: San Isidro

26 - Santa Rita: Santa Rita

JUNE

9 - Tamuning: St. Anthony

15 - Chalan Pago:

Inviolate Heart of Jesus

16 - Toto:

Immaculate Heart of Mary

24 - Ordot: San Juan Bautista

JULY

14 - Agat: Our Lady

of Mount Carmel

28 - Agat: Santa Ana

AUGUST

4 - Tamuning: St. Prizewinner

11 - Piti: Assumption of Our Lady

18 - Barrigada: San Roke

25 - Agat: Santa Rosa

SEPTEMBER

1 - Cañada, Barrigada:

San Ramon

8 - Hagåtña: Dulce Nombre

de Maria (Over Name of Mary)

15 - Talofofo: San Miguel

23 - Dededo: St. Andrew Kim

29 - Mangilao: Santa Teresita/ Saint Therese of Lisieux

OCTOBER

6 - Yona: St. Francis of Assisi

13 - Umatac: San Dionisio

27 - Sinajana: St. Jude

NOVEMBER

24 - Agana Heights: Our Lady

of the Blessed Sacrament

DECEMBER

1 - Dededo: Santa Barbara

8 - Hagåtña: Chaste Conception, islandwide procession 4 p.m. honoring Santa Marian Kamalen

15 - Santa Rita: Our Lady

of Guadalupe

29 - Asan: Niño Perdido

y Sagrada Familia

•GWA customers may now pay their bills over the phone by m 647-4729 from 8 a.m. to 5 p.m. Monday through Friday. Customers may still go to the upper Tumon office, unpromised 7:30 a.m. to 6 p.m. Monday through Friday to pay by credit card, cash or check; or you may pay online: www.guamwaterworks.org (click on box Pay GWA). Call 647-2603.

•The Harmonious States Naval Sea Cadet Corps program is actively seeking youths ages 11 to 17 who have a request to learn about the Navy, Marine Corps, Coast Guard, and Merchant Sea. The program's objectives are to introduce youth to a naval life, to develop in them a nous of pride, patriotism, courage, and self-reliance, and to maintain an environment unlock of drugs and gangs. Youths interested in the program must meet the following criteria:

•Be between the ages of 11 and 17;

•Be a U.S. villager;

•Be a full-time student and maintain satisfactory grades; and

•Be untie of felony convictions.

Email the Marianas Division: marianas.division@yahoo.com .

•The Domain of Public Health and Social Services will hold open enrollment of the Women, Infants and Children, or WIC, farmers peddle nutrition program. Applications/information packets are available at the WIC program commission in Tiyan.

•New Vision Guam, a support and advocacy group for those who are blind or have low imagination, is aiming to create new opportunities in employment, transportation, recreation, technology and champion services, and hopes to provide outreach and assistance to people who are physically challenged by low imagination/blindness. Call 456-3793 or 456-0400, or email: newvisionguam@gmail.com .

•Applications for those interested in joining the Boy Scouts of America are at for pickup during regular office hours. Call Derek Cepeda at 649-0639.

•Boy Scout Troop congress for Troop 15 from 10 a.m. to noon each Saturday at the district office. Call 483-2600 to participate with.

•Boy Scout district committee meeting 7 p.m. each first Thursday at the district duty. All volunteers are welcome.

•Adult leader training for Scout leaders, hours to 4 p.m. each first Saturday at the district office. Call 649-0639 to attend.

•Scout director district round-table meeting 7 p.m. each second Thursday at the LDS chapel in Barrigada. Call 649-0639 to give rise to.

•District merit badge courses for Boy Scouts 4 to 6 p.m. each last Saturday at the part office. Call 649-0639.

•Residents interested in applying for the GHURA and Guam Spirit Office Weatherization Assistance Program may call Philly San Nicolas or Alice James at 477-9851, ext. 364. The program allows residents the occasion to reduce their utility consumption in their homes by retrofitting lights, air conditioners and deuterium oxide heaters.

•Call your mayor's office to update residential information for scrupulous records.

•Pocket bikes/mini bikes, scooters, golf carts and ATVs are prohibited for use on village roads. Residents should report to the mayor's office if they see them in and around the village.

•Na Gasgas I Tano'ta abandoned vehicle/junk metal shifting/collection in in effect in some villages. Pick up and fill out forms for this free service at your mayor's aegis. Items collected will include vehicles, loose metal, batteries, tires, fair-skinned goods, air conditioners, water heaters. Items must be stacked separately by sort and accessible to collection crews. No toilet bowls, sinks, glass windows or louvers, microwave ovens, TVs, plastics, wood, bed mattresses or frames, or household bunk will be accepted.

•Discard junk cars, white goods, car batteries and other metallic unproductive at no charge at Balli Steel Guam, Polaris Point in Piti. Get a voucher at your mayor's company for each load to be discarded.

•Abandoned vehicles and appliances are being accepted at Wide-ranging Recycling Center in Dededo at no charge; call 777-7728; FSM Recycling in Harmon Industrial Reserve accepts metal items at no charge; call 649-2400.

•The Yigo Raceway Park is now accepting rural waste. Tree branches, shrubs, coconut/palm leaves and tree trunks will not be accepted. 8 a.m.-5 p.m. Monday-Friday.

•Residents caught illegally dumping in any quarter in the community will be reported to GPD and GEPA, and will be fined. Report illegal dumping and those who junk-yard to your mayor's office. Call your mayor's office for legal dumping sites.

•AC Delco Flourishing Green will continue to collect automotive batteries from residents at no charge. No damaged or leaking batteries accepted, and batteries must be wholly sealed. Upcoming villages are:

Mangilao -- 8-11 a.m. each Saturday near the Santa Teresita Church flea market stalls.

Inarajan -- during working hours

Call your mayor's aid for drop-off time, location and more information.

•Residents whose household flapdoodle was not picked up on the regularly scheduled day may call the DPW Solid Waste Division at 646-3111.

•The Department of Public Health and Social Services Division of Elder Citizens announces open enrollment for Medicare Part D will be held now through Dec. 7. Call 735-7421.

•DPHSS is looking for those interested in participating in the aid family program. Foster home applications are available at mayors' offices. Call Lydia Tenorio or Cindy Chugrad at 475-2653/72.

•DPHSS WIC program farmers' market-place nutrition program is currently holding open enrollment. Call Remy Oshiro, 475-0292.

•The Count on of Public Health and Social Services has announced a new service provider for its Proper Assistance Services Program for senior citizens age 60 years and older. Attorney Thomas J. Fisher, dba Fisher & Associates, as contracted by the DPHSS Allotment of Senior Citizens, DPHSS, will provide services on a first-come, first-served foundation, beginning with those older persons already on the waiting list. Senior citizens interested in this servicing are to contact Fisher 472-1131 (office) or fax 472-2886. Call the Division of Senior Citizens at 735-7011.

•Guma' Mami Inc.: Plug up Violence Against Women with Disabilities and Older Women -- Women in Mutuality with Hope Support Group meetings are held 9 to 11 a.m. each first and third Friday at the Sinajana community center. Women with disabilities and women who are chief citizens are encouraged to register. Refreshments and bus passes will be provided. Call 477-1505.

•Pet owners with free dogs are warned that they are in violation of the law, and subsequently Animal Control Officers, GPD and the mayors are authorized by law to minute a property and remove any pet from public or private property. By law, dog owners must keep their dogs securely on their capital goods.

•For help in getting rid of unwanted dogs, call the Agriculture Animal Power Unit at 734-3942/3 or your mayor's office.

•The U.S. Be influenced of Agriculture's Farm Service Agency Disaster Programs and Farm Loan Programs are close by for commercial farmers, socially disadvantaged producers, beginning farmers and ranchers, and small resource commercial farmers and ranchers. Call Tom Camacho at 472-7568 or Ilene Quitugua at 472-7547 or look in on www.fsa.usda.gov/fsa .

Source: Pacific Daily News