Archive for europe

Tips on Saving Money on your Car Insurance

November 15, 2011 admin europe

You can save considerable amount of money on your car insurance by shopping around for the cheapest cover. Several things are taken into account when you are applying for your car insurance, so depending upon your situation and experience, you can definitely get low quotes;

We are discussing few tips that can save you money on your car insurance:

1. With growing competition, many car insurance companies now offer money saver deals on the Internet. So, by some comparison shopping, you can save good bucks.

2. You should keep your car secure as this is the ultimate concern of the insurance company. Use an immobilizer/ alarm in the garage and anti-theft device in your car, as this lowers the risk of any theft.

3. Even if a car insurance company is offering you discount, you should haggle and ask for more. Car insurers are definitely looking for your business.

4. If you have plans to buy your next car, but are interested in saving on insurance, you can choose a car that fits on the lower insurance band. Usually small engine cars can fit the bill.

5. You must remember that you can save on your car insurance if you have low annual mileage. So, the lower the miles that you drive every year, lower your car insurance!

6. By driving safely on roads and remaining accident free, you can enhance your no claims bonus and also reduce your car insurance premium.

7. Another way to save money on car insurance is to get insured as a family car if you are still living at home. This can save you good money as compared to the individual policy.

If you are looking for more intresting information about Car Insurance have a look at the European market. For instance the situation in the Netherlands. Their car insurance market is quite solid.

 

 

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The Current Financial Situation of Greece

September 28, 2011 admin crisis, europe

Greece now days is facing one of the biggest challenges of all times, when the country is literally on the verge of a bankruptcy and has to face a recession period of 3 years. The misery does not end over here; Greece is due to pay a total amount of 400 billion dollars and has to pay a part of it every month. After looking at the current situation of Greece the IMF (international monitoring fund) and EU (European Union) has announced one of the biggest bailout package in the recent history. They have offered Greece 95 billion dollars spread over 3 years with the condition that Greece reduces the public spending of the money and raise the revenue from the tax collection. Rating agencies all over the world have declared Greece as one of the highly risked place to invest.

Reasons for the current economic crisis
There are a number of reasons that led Greece to a position where it is today. But following are a few reasons that are worth a discussion.Change of currency
One of the major reasons of economic crisis in Greece is their change of currency from drachma to Euro back in 2002. This made it easier for the country to borrow money in huge amounts. Public spending was at its peak in the last decade, with pays of the officials literally doubled and no consideration was paid to the tax collection and boosting tax revenues. Higher debt means higher premium from the investors and that is what started it all.
High spending on 2004 Olympics 
Greece had to take lots of loans from different investors and countries for many big projects which included the 2004 Olympics as well. And after a while it was noticed that the event went way over budget.

Tax to benefit ratio
Tax to benefit ratio was not maintained in Greece, where a lot was spent on benefits and less was done for getting returns in the form of taxes.

Investors in doubt
Greece’s current financial situation has put the investor in doubt and they are very reluctant to invest in a country that is already looking in the eyes of bankruptcy. This has made situation worse for other nations like Portugal.

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The Current Financial Crisis in Europe

September 28, 2011 admin crisis, europe, usa

The current financial crisis in Europe has become very serious and it is to the point where there is a fear that if it is not resolved, the entire world economy could sink into a recession. The source of this current crisis can trace back to the real estate bubble collapse and the mortgage investments derived from this market back in 2008. But the problem in Europe is different. It has everything to do with the structure of Europe and their ability to respond to the issue of debt among members of the European Union. In general there is crushing debt that must be dealt with while at the same time keeping growth positive. These two concepts are not compatible with each other, so there is a need to balance short term needs for economic growth with long term needs of reducing deficits.

In the United States this problem is currently seen as one producing political deadlock. Investors around the world can see the United States as having solutions if politicians embrace compromise. Europe however, is in a much different situation. Although many people like to think of this area of the world as being the United States of Europe, they are not the same. They do have a common currency, but they have no central authority. In the United States, there is a president, but no one person has the equivalent authority in Europe, and this has become a problem. Right now the country in the greatest crisis is Greece. But they are an independent country and cannot be bailed out like a state in America. It is up to the largest nations in Europe, namely Germany, to get the job done. But Germans are hesitant to help, and if this results in a default, a domino of countries will follow.
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