Friday, September 28, 2012

Spanish Stress Test Results

Here are the results of the stress test conducted on Spanish banks, as per the FT.

Seven banks failed and seven passed.

The shortfall comes in at under Euro60BN which, bizarrely, Juncker finds comforting!



Here is the reaction of the European Commission:
"The European Commission welcomes today’s publication by the Spanish authorities of the results of the independent valuation of Spanish banks. This is a major step in implementing the financial-assistance programme and towards strengthening the viability of and confidence in the Spanish banking sector.

In line with the Memorandum of Understanding governing the financial-sector programme for Spain, an external consultant conducted over the past few months a stringent bank-by-bank (bottom-up) stress test and a thorough asset quality review. The European Commission was closely involved in this process, as were the ECB, the EBA and the IMF.

The capital needs for individual banks disclosed today are a key step in the process of restoring and strengthening the soundness of the Spanish banks. They will form the basis for the eventual recapitalisation of banks with the help of the programme. The necessary State aid provided to Spanish banks will be determined in the coming months. It will be based on today's published results. It will also reflect measures to be taken by the banks, such as the disposal of assets, other restructuring measures and tapping funding markets, and subordinated liability exercises. In addition, the capital shortfall of credit institutions receiving public funds will be adjusted as a consequence of the transfer of assets to the Asset Management Company.

Banks with a capital shortfall will present recapitalisation plans. Upon approval of these recapitalisation plans by the Bank of Spain and the European Commission, banks requiring state aid will present restructuring or orderly resolution plans to the Spanish authorities, which will notify these to the European Commission for approval under EU state aid rules. Upon approval of these restructuring and/or orderly resolution plans, the recapitalisation of a first group of banks is scheduled to occur by November. "

Brown sugar ...

                                                                                            CLICK TO SEE MORE
                                                                                            boots: zara,
                                                                                            shorts: primark,
                                                                                            t-shirt: h&m,
                                                                                            cardigan: benetton,
                                                                                            bag: benetton,
                                                                                            watch: michael kors,
                                                                                            sunglasses: ray ban,
                                                                                            ph. Masa


Today, just a quick reminder: i love September! Sunny but not so hot, chilly but not yet freezing, just enough to get a hug from someone, or grab a big cardigan, it`s your choice! ;) This is how i`m imagining autumn!
Do you like it?



Thursday, September 27, 2012

ONS Revises Its Figures Yet Again!

On July 25 I wrote the following:

"UK GDP has contracted by 0.7% in the second quarter of 2012, thus bringing the UK into a double dip recession.

However, this figure needs to be taken with a pinch of salt, ONS figures are out of date and are invariably wrong
."
In August I wrote the following:
"As predicted, it transpires that the ONS figures were of course wrong. Economia reports that the ONS has revised its figures upwards from -0.7% to -0.5%."
One month on and the hapless and hopeless Office for National Statistics (ONS) have yet again revised their figures upwards, this time to -0.4%.

As I have noted many times before it is extremely unwise to rely on figures provided by the ONS, they are always out of date and invariably wrong; eg in February this year inflation figures spiked partly because the ONS (as per usual) had been erroneously under reporting inflation (clothing) for several years, and the resulting correction caused a spike in inflation.

Instead of the government and the Bank of England relying on and using ONS figures to to try to manage the economy, they may as well rely on reading goat entrails as these would be more accurate, timely and easier to interpret!

Something sweet ...

                                                                                              CLICK TO SEE MORE








                                                                                              ph.via pinterest 

Sorry, but i have some huge cravings today and i need someone who will share these feelings with me. Creamy and tasteful, with chocolate or fruit, in the jar or as a cupcake, with cheese or with biscuits i`m not picky at all! For most of these photos you may find the source and also the recipe by clicking on the particular photo in my "Something sweet ..." board on the Pinterest!
You also know how much i love cakes and cookies, and i`m promising that i will continue with my recipe section soon!
Have a nice Thursday!

p.s. you still have chance to win the Sheinside giveaway, click and enter Here!

Wednesday, September 26, 2012

Lost&found ...

                                                                                            CLICK TO SEE MORE



                                                                                              sneakers: pull&bear,
                                                                                              jeans: zara,
                                                                                              sweater: zara,
                                                                                              scarf: pashmina (from Turkey),
                                                                                              bag: non branded,
                                                                                              bracelets: cotton candy, accessorize,
                                                                                                              ringeraja,
                                                                                              watch: thanks to Urban watch,
                                                                                              sunglasses: ray ban,
                                                                                              ph. Branislava ( Divine World of Fashion)


Before i went on holiday to Turkey, my blogger girls and i had our drink time in the afternoon (you can see by my shorter hair that it was almost two months ago). For that day, i picked a relaxing look, favorite boyfriend jeans, sneakers, oversized sweater and a little bit of jewelery. Comfy and easy for spending hours and hours outside your home.
Do you like it?

p.s. if you wanna check all my looks with some particular type of clothes, just enter in the search box word that you are looking for, and it will pop out! for example, you can  write "sneakers" and my every single outfit with them will be shown! ;)
p.p.s. huge thanks to Brana for making these lovely photos!

Tuesday, September 25, 2012

Greece's Euro30BN Blackhole

In February I noted that the Troika had have discovered that Greece needed an extra Euro15BN on top of the Euro130BN second bailout that it had yet to receive. In August I noted that the Troika's assessment was that there is a Euro14BN hole in Greece's finances for 2013/14.

A grand total of around Euro29BN in blackholes!

Now Süddeutsche reports that according to senior EU officials, Greece will require an additional two years and additional funding of Euro30BN in order to meet the conditions of its second bailout package. It is not clear as to whether this blackhole is the combination of the two blackholes I wrote about in February and August, or a new blackhole over and above those already highlighted.

Either way it is now unclear if/when Greece will receive its next tranche from the package. Seemingly any decision is being delayed until after the results of the US Presidential election, lest a financially destabilising event propels Romney into office.


Monday, September 24, 2012

Hello autumn ...

                                                                                              CLICK TO SEE MORE







                                                                                               shoes: mango,
                                                                                               dress: thanks to romwe (here),
                                                                                               bag: aldo,
                                                                                               sunglasses: accessorize,
                                                                                               watch: michael kors,
                                                                                               ph. Olja


Wouldn`t be great if the autumn decide to surprise us and give us the dreaming temperatures so we could wear dresses, shorts, layers but still bare legs?! I`m voting for it! This time, i paired a beige dress with black collar and buttons , cat eye sunglasses, classic black shoes and Kelly look a like bag.
What do you think about my match? ;)

p.s. don`t foget to enter the Sheinside giveaway Here!
p.p.s. huge thanks to my sweetie Olja for making these great photos!

Saturday, September 22, 2012

Sheinside Giveaway ...

                                                                                             CLICK TO SEE MORE
Well, in the name of the first day of autumn, let`s make a new Giveaway! ;)
Sheinside.com will award two winners, they will receive 50$ voucher to spend on their online store, necklace and a secret gift! How great is that?! On the first photo i choose some of the garments (jacket, sweater and pants) which are under the 50$ as a my suggestion for the winners! There are so many great things that you can pick for this amount of money.
So, here are the rules:
1. you should follow my blog in the most easiest way for you (GFC, Bloglovin` or Facebook page),
2. register on the Sheinside.com 
3. leave a comment under this post with the same email address that you used for the registration

and that`s pretty much it.
We are playing until next Saturday 29th of September, using the random.org i will pick the winners!
Good luck! :)

                                                                                          -------------------------------------------

Zahvaljujući Sheinside.com sajtu, narednih sedam dana imaćete priliku da se prijavite i učestvujete u novom Giveaway postu! Ovoga puta, biramo dva pobednika koji će osvojiti vaučere od 50$ koje mogu potrošiti na njihovom sajtu, ogrlicu i tajni poklon! :) Na prvoj slici možete videti moje predloge za odeću koja iznosi manje od 50$ (jakna, džemper i pantalone), izbor je zaista veliki tako da ćete lako pronaći nešto i za vas!
Evo i pravila, potrebno je da:
1. pratite moj blog na vama najlakši način (GFC- sa desne strane bloga, preko Bloglovin`-a ili da lajkujete Facebook stranicu),
2. registrujete se na Sheinside.com sajtu (ukoliko već imate profil ne morate ponavljati ovaj korak),
3. ostavite komentar ispod ovog posta sa email adresom koju ste koristili pri registraciji!

Igramo se do sledeće subote, 29. septembra, a pobednike ćemo izabrati pomoću random.org sajta!

Želim vam puno sreće! :)


Thursday, September 20, 2012

1,2 step ...

                                                                                             CLICK TO SEE MORE








                                                                                             boots: zara,
                                                                                             shorts: new yorker,
                                                                                             t-shirt: mango,
                                                                                             cap: non branded,
                                                                                             bag: benetton,
                                                                                             sunglasses: ray ban,
                                                                                             ph. Olja



Now, i need to make a confession: i`m totally in love with this look and photos! No, i`m not a narcissistic person at all, but com on , look at them! ;) Something between Isabel Marant and my high school r`n`b playlist, i managed to keep together all my favorite pieces. Boots (on a bare legs of course), ripped shorts, tee with the numbers and aviators. The addition was this cap which is a great way to cover your "dirty" hair! ;)
Hope you can recognize my true character through the photos, because they represent me better than the rest!
Can`t wait to hear your thoughts about this sporty look! :)

p.s. huge thanks to my beloved Olja!

Stagnation Abounds

The purchasing managers indexes (PMIs), released today make depressing reading.

Reuters reports that the composite Eurozone PMI fell to 45.9 in September, from 46.3 in August. A level of less than 50 denotes contraction.

The ongoing decline in PMI indicates that the ECB "plan" to buy Eurozone debt has not impressed companies, or restored their faith in an upturn.

It is not just Europe that is suffering, the ongoing recession in Europe has negatively impacted China (seen by many as the last best hope for pump priming a global economic recovery). Although the China manufacturing PMI rose in September to 47.8 from August's nine-month low of 47.6, it remains below 50 which indicates that Chinese growth is slowing/stalling.

In theory China and the Eurozone should work together to try to address their mutual problems. Unfortunately, China is less than pleased that there is still an arms embargo and that its products are subject to tariffs.

Wednesday, September 19, 2012

Hey boy ...

                                                                                              CLICK TO SEE MORE




                                                                                               sandals: zara,
                                                                                               jeans: bershka,
                                                                                               sweatshirt: terranova,
                                                                                               sunglasses: ray ban,
                                                                                               necklace: vintage,
                                                                                               ph. Zorannah 


If you have a favorite pair of sparkling shoes that are waiting for a special occasion to be worn, don`t hesitate anymore! Grab your oversized sweatshirt or sweater, take your comfy skinny jeans and you are ready to go! Make your sequins wearable during the day! Mixing different fabrics and textures can be really fun! For the morning coffee with Zorannah i picked this look and i liked it! Oh baby, i like it! ;)
Your thoughts?


Financial Sector Receives 36% of All Bonuses

The Office for National Statistics (ONS) reports that the total level of bonus payments received across the whole economy, during the financial year April 2011 to March 2012 (2011/12), came to £37BN. This is an increase of 3% compared with 2010/11, and equates to an average of around £1,400 per employee in 2011/12.

Those of you who are wondering why you did not receive a £1.4K bonus will be "relieved" to learn that it hasn't got "lost in the post", but has in fact contributed to the higher than average bonuses paid to those working the in the finance and insurance industry who received a total of £13BN in bonuses. This accounts for 36% of all bonuses in 2011/12, even though the sector only accounts for 4% of all UK employees.


Tuesday, September 18, 2012

How We Do ...

                                                                                                CLICK TO SEE MORE










                                                                                             dress: thanks to romwe (here),
                                                                                             belt: vintage,
                                                                                             scarf: new yorker,
                                                                                             bag: benetton,
                                                                                             sunglasses: ray ban,
                                                                                             jacket: zara,
                                                                                             boots: zara,
                                                                                             ph. Olja

Yesterday you had a chance to see some snap shoots from my everyday life, and if you looked carefully you could see my new boots from Zara! Aren`t they beautiful? I paired them with this black dress that has open heart on the back, denim jacket and giraffe scarf! :)
Do you like it?

p.s. huge thanks to my dear Olja for making these great photos!♥