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The political crisis in Egypt and is affecting the global economy: oil prices have risen; the stock has been beaten and has multiplied the questions about whether the rising cost of oil will derail the global economic recovery.

It is expected that the Egyptian stock exchange not open its doors on Monday after a landslide of 17% at the end of last week. Most Gulf markets fell on Sunday. The Dubai stock market down 4.3% and Oman 3%, while that of Saudi Arabia rose 2.5%, after yielding 6% on Saturday. Crude oil futures jumped more than 4% on Friday in the United States to U.S. $ 89.34 a barrel.

The Egyptian economy is relatively small, with a gross domestic product last year about U.S. $ 217,000 million. The country, however, is far more important thanks to the Suez Canal, a key trade route for oil and other commodities that are transported from the Red Sea to the Mediterranean.

Apart from oil, about 8% of global maritime trade passes through the Suez Canal, according to Egyptian government figures. The curfew imposed in the country from dusk until dawn during the weekend made the shipping companies operating in the channel warns customers about possible delays. So far, the demonstrations against the government have obstructed the passage through the canal. However, if the violence in Egypt moved to neighboring countries that are major exporters of oil, oil prices could exceed $ 100 a barrel, which could stifle the nascent recovery in the global economy.

The Faculty of Economics of the Universidad Veracruzana (UV) has signed a collaboration agreement with the National Chamber of Transformation Industries (Canacintra) and the National Network for Teaching and Research Institutions of Geography.

“The two agreements mark a course at the Faculty different because they create a platform for links to specific sectors, as we offer degrees in economics and geography,” said Lucia Tide Leon, director of the Faculty.

By agreement with Canacintra Faculty are expected to cooperate by making economic development work, business diagnostic studies on competitiveness indicators, among others. In addition, the career of Geography may support studies on regional and geo-referenced location in the different regions of the state.

In the case of agreement with the National Network, said: “The idea is to share the possibility of collaboration on curriculum and academic and student mobility, as well as publications and joint projects.”

This year it also signed agreements with the BUAP and the Autonomous University of Barcelona, where they have been very interested in receiving academic and student in the doctoral area, even considering the possibility of establishing academic advice and shared rooms, said Lucia Leon.

Arturo Bacardi, the coordinating academic liaison, said, “with the University of Florida in Gainesville did a deal with the economics department at where we are going to afford to have our Ph.D. students in public finance and exchange teachers.”

He stressed that this agreement contemplates the possibility of taking courses at the university, “is a great advantage because it is not always allowed in U.S. universities that students attend as listeners, but this will be formalized,” said the scholar.

The Minister of Labor and Immigration, Valerian Gomez, said today that the pension reform agreed between Government and social partners will help reduce the shadow economy, and could bring out between 100,000 and 150,000 irregular jobs. In a radio interview, the minister has quantified the overall Spanish economy at around 20% of Gross Domestic Product (GDP), according to various studies.

Gomez explained that the diversity of the measures included in the reform of public pension system, as the possibility of smaller contributions, could entail some form of illegal employment is a result of the costs. In this regard, said illegal jobs tend to increase during periods of crisis and that the pension reform can make them emerge more quickly.

The minister also stressed that this reform will help create jobs, because in the tripartite agreement also provides for an “emergency plan” to stimulate hiring by employers, with reductions of contributions. Has also ensured that tomorrow the Executive and the social partners will finalize the details of this plan is “to give employers the best conditions of employment so they can reduce their costs.”

The plan is part of the reform of the active policies that seek to improve the capacity of training and retraining of public employment services of the autonomous communities, and where stands the new financial aid of about 400 euros for the unemployed without income want to do job placement programs.

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Is the Euro zone must regain their health through a stronger European integration to transfer money to poorer countries or must rather be oriented towards a debt restructuring, starting in Greece?

That is in essence the dilemma presented by a senior official of the euro area to a group of European ministers, other officials and businesspersons gathered at an informal breakfast at the World Economic Forum (WEF) in Davis.

If Europe hesitates between these two options, “time is running out” by certain leaders of the Old Continent did not reveal his identity, despite the relative calm markets show few days ago.

The first, advocated by the so-called peripheral countries, major stakeholders, such as Greece, Portugal and Spain, is clearly rejected by Germany, the main provider of funds in Europe.

Berlin proposes instead respect the rules and conditions their support to drastic measures for fiscal consolidation.

As for the second alternative, many economists, who estimate that some euro zone countries, starting with Greece, have no choice because of its huge debt, advocate a debt restructuring.

This issue remains a taboo in Europe and all the rumors and press reports evoke this possibility is rejected immediately.
“This would cause a horrible trauma,” judged on Friday a senior European official. The Greek Prime Minister Georges Papandreou again rejected this alternative on Friday in Davis.

“We’re not heading toward a restructuring. We have a very clear path, a road map out of our debt problem,” said Papandreou.
Greece, recalled his first minister, has done what was necessary through a grueling set and now has the solidarity of its members.

“It is not only in Greece, even including solidarity. This concerns the conditions for stability” in Europe, said on this issue a top European.
Meanwhile, solidarity is organized around the Financial Stabilization Fund, established in 2010 and will become a permanent instrument in 2013.

However, not at this point there is consensus, as some European officials privately recommended doubling the amount and others resist.
The fund is now endowed than 440,000 million euros in loan guarantees. The Economic Affairs Commissioner, Olli Rein, confirmed on Friday in an interview with the Wall Street Journal that the borrowing capacity will be increased, but did not refer to the amount.

President Felipe Calderon declared that Mexico’s economy grow despite the violence and challenging times lived in the country, as the country is seena to “constructive optimism” for the world.

“The truth is that, despite very challenging times we have experienced and very important action that has had, mainly the Federal Government, driving the strategy for the security of Mexicans, and although, of course, actions violent criminals, mainly in fight with other criminal groups and drug cartels in Mexico, we found these rates of economic growth, “Calderon said in a press conference to take stock of their participation in the World Economic Forum in Davis.

The federal agent told international media that Mexico is working hard in public policy with the idea of certainty and security for investors, tourists and the Mexican population.

“Mexico is working hard in public policies aimed at giving certainty and security to investors, tourists and, of course, the Mexican population, increasing economic competitiveness,” he added.

Given the increased competitiveness of the economy, Calderon said the country expected to again record growth rates of formal employment and more people this year.

“I would take nothing more than words of Mr. Klaus Schwab. The world is seeing here in Davis, constructive optimism was what he said, and I think that may also apply to data that is throwing the Mexican economy right now, “he said.

“Several companies have announced major investments in this forum are examples of the trust that exists in Mexico as a safe and attractive destination for investment. The Spanish company Bedroll will invest nearly $ 370 million in its operations in Mexico this year, and Magna will invest more than $ 100 million to expand operations in our country. This is a sign that we have left behind not only the worst global crisis since the 30′s, but our economy is back on track for growth “, he said.

Calderon said the euro and other currencies are going through a finding, as the Mexican peso.

“However, without entering the analysis of imbalances that still exist in the global arena and, in my opinion, are a major cause of these currency movements and, not without going to the analysis of speculative flows are likely ago of these processes, “he said.

“For me the key is not only how to deal with, as we are, with orthodox policies with these phenomena, but how to become more competitive, for me that am the key. In addition, while we have the same assessment process as other currencies, Mexico has won in competition, “he said.

If the government meets, the announcement in 2011 to assess the Bolivian economy will suffer a negative impact in the short and medium term, especially in the field of exports, which become more expensive, they will lose competitiveness against other countries’ supply and therefore recorded a fall, exporters yesterday warned Bolivians.

Goran Vranicic, president of the Bolivian Chamber of Exporters (CANEB), said the purpose of government is facing a possible increase in inflation in the world, as explained by the Minister of Economy and Public Finance, Luis Arce, but the measure may backfire and create negative economic effects.

He explained that in the medium term, to appreciate the Bolivian imports would become cheaper for the direct benefit of domestic consumers but compete unfairly with domestic production, which seriously weakened its sales, shrink, therefore, investment and product active capacity to generate employment.

He said the government announcement comes amid registered trade confrontation between China and the United States, countries that are depreciating their currencies to make their products more competitive in world trade and to produce more and generate more employment in their own countries.

We would be among the few countries seeking cheaper imports that create jobs in the outside instead of promoting exports and create jobs in Bolivia for Bolivians, “said the representative of the CANEB.

Commercial transactions for the purchase or sale of goods or services for an amount exceeding 50 000 Bs, cannot be made in cash but by check and / or credit and debit cards from 1 February this year.

The new determination, which requires bills to be based on Article 20 of Law of the State General Budget 2011, which incorporates changes to the Tax Code so that “any purchase and sale of goods and services, for an amount exceeding to 50 000 Bs, takes place through a reliable means of payment that is authorized by the Supervisory Authority of the Financial System.

The president of the National Tax Service, Roberto Grate, in a note published in the newspaper Cambia, said that with this new control mechanism, which also participate the National Customs of Bolivia, were able to identify companies and people engaged in transactions and does not emit n invoice.

Told the daily that they pay for the purchase of goods which exceed 50 thousand Bolivians, they must do so through this source (check or credit card), and no cash, and that’s going to control people they buy a certain amount of products and sell it without extending the bill.

He said that if a person decides to buy a motorcycle or a vehicle whose price exceeds 50 000 boliviano, one should use reliable payment mechanisms (check or credit card, debit card or any other) to be set by the regulator the financial system.

Both in 2011 and in 2012 the growth of emerging and developing economies remain strong and will reach 6.5%, i.e. a small slowdown compared to growth of 7% recorded last year, “the agency said.

In its latest update of the World Economic Outlook, released today, the IMF also expects “capital inflows in emerging markets remained strong, and financial terms, its solidity.”

The report also noted, “Commodity prices will remain high and inflation is rising in some emerging economies.”

It is projected that “consumer prices in these economies will increase 6% this year, i.e., an upward revision of three quarters of a percentage point from the October 2010 edition of World Economic Outlook,” according .

In this context, “in emerging economies, the most important risks are linked to warming, a rapid escalation of inflationary pressures and the possibility of a hard landing,” so “should establish or maintain a restrictive monetary policy if they are starting overheating pressures emerge. “

For its part, the advanced economies are expected to advance 2.5 percent in the period from 2011 to 1912, up a quarter of a percentage point from the perspective of the October 2010 edition.

“In advanced economies, it urges that more is to relieve the financial strain of the euro area and advancing the consolidation and reforms of the financial system and the medium-term fiscal consolidation,” the IMF said.

However, “are expected to remain intense financial strain in the periphery of the euro area, where still of concern to market participants sovereign risk and banking, the political viability of the current austerity measures, as provided, and the absence of a comprehensive solution. “

There, “comprehensive measures are needed, quick and decisive action to deal with downside risks” and “in many countries remains critical to further strengthen national policy measures to further strengthen fiscal sustainability and revive growth.

The chair of the Senate, Rene Martinez, announced on Tuesday that the Plural Economy Committee that this year’s legislative body is in the hands of the ruling party to work on the development of productive investment policies.

“The priority of the political reading that MAS is emerging as priority is restored Plural Economy Commission, because we consider that to be consistent with the concerns it has launched the Government, but also to develop policies to stop dumping and productive investment, this commission will be in the hands of the ruling, “said the legislator.

He explained that the rules of the Senate’s minority caucus established that occupies two spaces in the representation of committees, so that eight will be under the responsibility and representation of the Movement toward Socialism (MAS).

“It is established in the regulations; this means that the minority caucus knows how many of the spaces and how many levels are two in this case on behalf of commissions that will be the responsibility of the opposition and the remaining 8 of the 10 committee’s representation of the MAS, “he said.

In this direction, Martinez reported that shape the commissions and committees under three basic criteria: gender balance, the balance of regional presence and commitment to work.

Six experts discussed in “59 seconds”, the debate program and timeliness of La 1 TVE, the Spanish economy and its future, in a special on the crisis, its effects and the reforms to be undertaken. The program introduces and directs Maria Cased Ritzier Barnacle approached from different perspectives the debate on current economic affairs in the week to approve the pension reform and has announced new measures for savings.

Why Spain doubles the European unemployment? Is it essential to the pension reform to restore investor confidence? What reforms are necessary for the economic boost and create jobs? These are some of the questions asked on the set of “59 seconds” in economics experts invited to the program.

Former PSOE minister, Jesus Caldera (commenting on the debate on the new text of the Pact of Toledo), former minister and president of the PP Foundation Ever is, Eduardo Sera, Professor of Economics at the University of Seville, Juan Torres, economist and business consultant Peter Schwartz and economic journalists Joaquin Stephanie (“Country”) and Fernando Gonzalez Urbane (Chairman of the Press Association) will be responsible for discussing the guests on this special monograph on economy.