Vieira in the hot seat? “We must ask the leaders” – Fil Info – Europa League

“We are disappointed, for sure, we would have liked to win the match, it’s still a difficult match against a very good team, superior to us, we fought to the end unfortunately, we took this third goal, j ‘ve seen an acceptable state of mind tonight, it’s up to us to continue like this, traveling to Reims, said Patrick Vieira after Nice’s defeat against Leverkusen (2-3) and elimination in the Europa League. We have to be more aggressive, state of mind and concentration at this time. We are lacking in success, we will continue to fight and if we fight like this evening, we will reverse the trend. I am proud of the players who were on the field, they did the maximum, we tend to forget that they do not have a lot of experience at this level, I am convinced that they will be better in the future. . You have to work, on video, in the field. We have to accept these mistakes. If we don’t accept, that’s going to be a problem. ” And to evoke his personal case, whereas it is announced on the hot seat: “I am not asking for anything. You have to ask the managers the question to know if I am the coach to take the project where they want to take it. ”

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Bills and coins are being phased out: cash becomes rare

Contactless payment by card is trendy, especially since Corona. But hygiene is just a pretext to replace cash with electronic systems.

This is where paying by cards comes to an end: a stall at a Berlin weekly market Photo: Karsten Thielker

BRUSSELS taz | First came the pane of glass to protect the seller. Shortly afterwards, the disinfectant for the customers was also available at the checkout. And then one day the new card reader arrived that my baker in Brussels wanted to use to pay. “You don’t have to insert the card anymore, it is now contactless, too,” said the young woman behind the counter. That was in June. I haven’t paid for my baguette in cash since then. “Sans cash” is also possible, and often even faster.

Cash is not only on the decline in Belgium. The trend has long since reached Germany. “If bakeries are thinking about introducing new payment options, now is a good time,” says the general manager of the Central Association of the German Bakers’ Trade, Daniel Schneider.

The trend towards electronic payments has been noticeable for years, says Schneider. But it was only the corona pandemic that made it massively worse. With a few groschen out of your pocket, as in the past, the baker is paying less and less. Some companies even help a little – and urge customers to pay electronically.

Anyone who waives cash at the Kamps bakery chain receives an “innovation discount” of 3 percent. According to Kamps, payment by card or smartphone is not only faster, but also more hygienic. The discount is intended to say thank you to all customers who have remained loyal to the company during the corona crisis.

The EU promotes cashless payments

The pandemic initially increased the demand for cash. In March 2020, the euro cash in circulation in Germany jumped by 36 billion euros to 1,344 billion euros. That was the highest monthly increase since the financial crisis in October 2008. It was a fear reaction – similar to the initial hamster purchases of toilet paper. But hardly that the fear had subsided a little, many Germans changed their behavior – and paid “contactless”. Not only Kamps helped. In supermarkets and department stores, too, electronic payment transactions are advertised as a secure and fast “hygiene measure”.

The EU Commission in Brussels joins the choir. The corona pandemic has shown how practical cashless payments are, according to the Brussels authority. That is why the EU will promote it even more in the future.

There is no scientific proof that coins and banknotes pose a significant risk of infection. The Bank for International Settlements in Geneva emphasizes that no transfer through banknotes has yet been proven.

It is also not proven that not using cash will boost business. For the independent baker around the corner and other small shops, the changeover is often associated with losses. Because the individual sales are mostly low for them, the average customer at the bakery only puts 2.60 euros on the counter.

If such small amounts are paid with the card, the commission charged by the card terminal operator or the bank (with EC cards this is usually 0.25 percent, with credit cards up to 3 percent) is often higher than the profit margin of the Baker. In other words: it is a losing business, you cannot bake big rolls with a card.

If there are no compelling reasons for the abolition of coins and bills – why is cash still becoming more and more rare? Are there dark forces at work trying to make us dependent on credit card companies like Visa and Mastercard? Is there a secret lobby for electronic or even digital money?

A gradual process

No, says Norbert Häring, who has dealt critically with the topic for years. Neither in the Frankfurt banking center, where Häring works as a business journalist, nor in Berlin, lobbyists would openly advertise the abolition of cash. The whole thing is more of a creeping process – but that’s what makes it so problematic.

Because with the abolition of cash there is also a loss of control. Not the local savings bank around the corner, but large foreign corporations such as Mastercard or Visa benefit from the card business. In addition, the buyer becomes a transparent customer. Every transaction leaves its mark, and data protection becomes a problem.

The supporters of new means of payment are not openly in favor of the abolition of cash, especially not in Germany, where people are particularly attached to “their” money. In this country, the Bundesbank and the Bundestag watch with eagle eyes that the supply of cash is secured.

But these two institutions are also working behind the scenes to dematerialize payment transactions. In the name of technological progress and international competitiveness, the course is being set for a “world without cash”.

Ordinary citizens not asked

This became clear at a hearing in the Bundestag in June. Mainly representatives from the IT industry, engineers and financial experts were invited. Ordinary citizens were not asked, trade and consumers only played a minor role. One of the few reminders was Ulrich Binnebößel from the German Trade Association. In retail, the “tipping point” is getting closer and closer, at which cash is pushed to the edge, he says. “At the beginning of the corona pandemic, the system was tipped over,” complains Binnebößel – and calls for politicians to make more use of cash.

The figures prove Binnebößel right. As early as 2018, more money was spent by card in Germany than in cash. At that time, card payments were for the first time just ahead of cash (208 billion) at 209 billion euros. Since then, the trend has intensified more and more, Corona could completely tip the system.

For many digital natives, this tipping point, at which cash finally falls behind and wallets and wallets disappear, cannot come quickly enough. Germany is lagging behind in competition with the USA and China, so their argument.

Competition to the euro from the USA

Kurosch D. Habibi from the Federal Association of German Start-ups says he is not concerned about the cash, but above all about the fact that Germany could lose the digital connection. US internet companies like Amazon are already showing how they can position themselves as a platform for financial transactions. “If we don’t do that, others will do it,” warned the expert who specializes in “Fintech” at the hearing in the Bundestag. A warning example is Facebook, which wants to cash in with its crypto currency Diem in Germany and the EU.

This worries politicians too. They are committed to cash, but at the same time they are calling for alternatives. The left member of the Bundestag Fabio De Masi is also calling for a “digital euro” to be created – an electronic form of central bank money for which the Bundesbank would be responsible

“The digital euro is the only chance to limit the increasing financial power of Facebook & Co.”, says De Masi, who made a name for himself in the Wirecard affair. Although it is no guarantee against money laundering and organized crime, as supporters of digital currencies like to claim, it could help the EU to assert itself against the US.

Valdis Dombrovskis, EU Financial Commissioner

“The future of finance is digital”

While there is still discussion in Berlin, facts are already being created in Brussels. EU Finance Commissioner Valdis Dombrovskis outlined where the journey is headed in September. “The future of finance is digital,” he said – and suggested not only introducing new, EU-wide electronic payment systems, but also the “digital euro”.

The Brussels authority emphasized that this was not an attack on the analog currency. They advocate that “cash should remain both accessible and generally accepted,” said a spokesman for the taz. After all, the euro is the only legal tender in the euro area.

But these words were not followed by deeds, the guarantee of existence is only on paper. Brussels is doing just as little against the flood of digital card readers and payment apps that kill the cash as it is against the creeping abolition of ATMs or the closure of bank branches.

The EU Commission and the European Central Bank (ECB) are all the more eager to promote digital alternatives to cash. Commission head Ursula von der Leyen has declared digitization to be a top priority – right after climate protection. ECB President Christine Lagarde has even made a U-turn.

When she took office a year ago, the Frenchwoman was still strictly against a digital “e-euro”. Now she takes the lead in the movement. The euro must be “fit for the digital age”, declared Lagarde in October. An e-euro would make everyday payments faster, easier and safer, the ECB lures. It should be ready by mid-2021 at the latest.

The rush is justified by the fact that Facebook could launch its digital currency Diem as early as January. The US company is planning a digital coin that will be pegged to the dollar. This digital dollar could call the monopoly of the euro into question, the ECB fears – and wants to counter it as soon as possible.

Transparency and democracy fall by the wayside. The ECB has started a public hearing on the “digital euro”, but an opinion is only expected in early 2021. But behind the scenes, groups of experts are already working feverishly on the introduction. Above all, one question drives the experts: Should digital money only be available to central and commercial banks – or also to citizens?

If the e-euro is only used internally, most people shouldn’t really care. But if it is also available to ordinary people, the cash becomes even more dispensable. Even savings could be invested digitally. The good old piggy bank would then be just as superfluous as the wallet.

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Pirlo: “We are lucky to have Ronaldo” – Fil Info – Champions League

Author of his 10th goal in 8 matches in all competitions this season Wednesday against Dynamo Kiev (3-0), Cristiano Ronaldo author of the 750e His career goal was praised by Andrea Pirlo: “We can’t say anything about Ronaldo because every day he breaks new records. We are lucky to have him at Juve. “

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Champions League: Winner in Manchester, PSG in an ideal position for the 8th – Fil Info – Champions League

Paris SG won on the lawn of Manchester United (3-1) on the occasion of the 5th day of the Champions League to position themselves at the top of their group along with the Red Devils and Leipzig (9 points ), winner in Istanbul earlier in the evening (4-3). The capital club, which suffered enormously in the second period before the expulsion of Fred (69e), signed a small heist at Old Trafford. Neymar opened the scoring in the 6e minute of play but Rashford logically equalized in the 32e. Marquinhos, while his team was in pain, gave his team the advantage in the 69e before a last Parisian goal signed Neymar, ideally served by Rafinha (90th + 1). PSG will host Basaksehir at Parc des Princes next week, while Leipzig will host Manchester United. A draw will suffice for Thomas Tuchel’s men to qualify for the round of 16.

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Research on Porr, Vienna Airport and VIG

02.12.2020

Warburg Research confirms Porr with “Buy” and a target price of EUR 20.0. HSBC remains on “Reduce” at Vienna Airport, but increases its target price from EUR 20.0 to EUR 23.0. The HSBC experts recommend the Vienna Insurance Group with “Hold” and a target price of EUR 21.2.



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Stocks on the radar:Andritz, Kapsch TrafficCom, EVN, Warimpex, Rather S, Porn, ATX, ATX Prime, Rosgix, AT&S, Erste Group, OMV, Zumtobel, Josef Manner & Comp. AG, UIAG, Semperit, Pierer Mobility AG, LINDE, Merck KGaA, MTU Aero Engines, Infineon, Beiersdorf, BASF, Telekom Austria.


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Christine Petzwinkler

Börse Social Network/Magazine


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Dollar against the Swiss franc at its lowest level since 2015 – Euro against the dollar at its highest level in 2.5 years | 12/02/20

On Wednesday, the euro expanded its high for two and a half years against the US dollar, which it had reached the day before.

In the morning, the common currency, the euro, cost up to 1.2084 US dollars and thus as much as last time in May 2018. At currently 1.2074 dollars, it is again slightly below.

The euro is currently at the level that it last saw at the beginning of June. At 1.0865 francs, it is only slightly below its previous daily high. The dollar has meanwhile slipped below the 0.90 mark against the Swiss franc and costs 0.8998 Swiss francs. It was this low for the last time after the SNB lifted the minimum exchange rate in early 2015.

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The market is referring to the general weakness of the US dollar. Above all, the prospect of vaccines against the coronavirus is driving investors out of the global reserve currency, the dollar. The euro, the second largest currency in the world, is benefiting from this development.

In terms of economic data on Wednesday, numbers from the second row, mostly of less market importance, are primarily due. Exceptions are the monthly unemployment figures of the US service provider ADP, which serve as a guideline for the government’s labor market report due on Friday. In the evening, the US Federal Reserve’s economic report is due.

bgf / zb / hr

FRANKFURT (awp international)

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End of Bayern’s winning streak, held in check by Atlético – Fil Info – Champions League

Bayern Munich’s record-breaking series of fifteen Champions League victories ended with a 1-1 draw at Atlético Madrid, deprived of a qualification in 8th on Tuesday. The Madrilenians led the score for a long time thanks to a goal from the Portuguese Joao Felix (24th), but Thomas Müller, at the end of the match (84th), transformed a penalty which he himself caused on a collision with Felipe to bring back tied Bayern, several stars of which were at rest.

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Champions League: the reform project that UEFA will study – Fil Info – Champions League

UEFA will study this week a reform project of the Champions League which would replace the traditional pools with a general classification of 32 or 36 teams, each playing 10 matches against 10 different opponents, said the British daily The Times on Tuesday. Called the “Swiss System”, this option would be favored by the European body in its desire to counter the secessionist European Superleague projects agitated by certain clubs, the newspaper understands.

This formula, which could see the light of day in 2024, would guarantee four more matches than the six disputed by the teams which finish fourth in their pools, currently. A draw, with a seed and hat system, would determine 5 home and 5 away matches against 10 different opponents and varying levels, whose points would result in a single ranking of all the teams entered.

The first half of the table at the end of the ten matches would qualify for a more classic round of 16, except that there would be no draw, but the 1st would meet the 16th, the 2nd against the 15th, and so on. Clubs classified between 17th and 24th places would be transferred to the Europa League.

This formula would also be quite well received by the powerful Association of European Clubs (ECA) and by the organization of the European Leagues, but UEFA will present this project formally over the next two weeks to European football officials. England’s David Gill, UEFA vice-president who spoke to The Times last week, stressed that the body was determined to ensure that the mode of qualification remains overwhelmingly linked to domestic competitions, even if the half finalists, or even quarter-finalists, could be qualified for the following season. For Lars-Christer Olsson, president of the organization of the European Leagues, interviewed by the Times, this formula would be “much more realistic” than the proposal of the big clubs in 2019 to go from 8 groups of 4 to 4 groups of 8 with 14 guaranteed matches instead of 6.

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That is why the euro has risen to its highest level since spring 2018 – little changed against the Swiss franc | 12/01/20

The euro rose sharply against the US dollar on Tuesday.

In the late afternoon, the price reached 1.2042 US dollars, its highest level since spring 2018. Market observers speak of a weak dollar, which in turn gave the euro a boost. The price is currently at $ 1.2029.

Against the Swiss franc, the euro is trading little changed at 1.0840 francs. Accordingly, the dollar has fallen significantly against the Swiss franc – in the late afternoon the rate is 0.9010 Swiss francs.

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At the beginning of the week, the euro had temporarily risen above the $ 1.20 mark, but then lost ground again and was only traded at $ 1.1920 on Tuesday night. The renewed strong price increase is a consequence of a broad-based dollar weakness. The American currency has recently come under pressure against almost all major currencies. The reason for this is that investors are more willing to take risks, which has resulted in weaker demand for comparatively safe investments such as the dollar. The Japanese yen, which is also considered a safe haven for investment, is under pressure on Tuesday.

Once again, it is hopes for a quick introduction of effective corona vaccines that are making the financial markets more risk-taking. These are used to speculate on stronger economic development in the coming year. The hope of a strong recovery in the global economy is also supported by the latest economic data from China. In the second-largest economy in the world, the mood in medium-sized and smaller industrial companies surprisingly brightened in November. A corresponding sentiment indicator rose to its highest level in ten years.

For other major currencies, the ECB sets the reference rates for one euro at 0.89798 (0.89845) British pounds and 124.92 (124.79) Japanese yen. The troy ounce of gold (31.1 grams) was traded at $ 1,808 in London that afternoon. That was about $ 31 more than the day before.

jkr / jsl / he / jl / kw

FRANKFURT (awp international)

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The Eurogroup gives the green light to the reform of the ESM

One year after failing their first attempt and after overcoming Italy’s reluctance, the Ministers of Economy and Finance of the Eurozone have managed to carry out this Monday the reform of the European Stability Mechanism (MEDE), which in the future will have a greater supervisory capacity and more powers, and agree to advance by two years, at the beginning of 2022, the start-up of the new safety net of the Bank Resolution Fund, two key legs of the banking union. “The adjustments that we have agreed will further develop the toolbox & rdquor ;, the president of the Eurogroup celebrated, Paschal Donohoe, after the videoconference held by the ministers of the Eurozone.

The approval had been blocked in December 2019 due to the controversy generated in Italy with the reform and the demands of some hawks Northern Europe as Finland or Netherlands that required, prior to the launch of the new fund, a reduction of banking risks. “We have not reached the end of the road & rdquor; and “we will continue to reduce risks & rdquor; but “our unity is confirmed. It is a fundamental milestone on the road to strengthening the banking union and an important complement in our efforts to support economic recovery & rdquor ;, highlighted the head of the Eurogroup. “It is an important step that reinforces the banking union and the financial stability of the euro zone”, highlighted the Vice President of the Government, Nadia Calvin.

The agreement, which does not touch a comma in the provisional text closed last year, must be signed in january after which the ratification process at the national level. Reform strengthen the role of the ESM in the design, negotiation and evaluation of financial assistance programs which means you will have more power than in the past in supervising bailouts. In addition, it introduces the collective action clauses in sovereign bond issues, which will make it easier for creditors to assume deductions in the event of debt restructurings, the element that generated the most controversy last year in Italy due to the fear of increasing the costs of Italian debt and which led to the freezer reform.

New safety net for banks

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The pact will also allow the launch of the new safety net of last resort for bank resolutions. That is, the new instrument that may be used in the event that the money from the Single Bank Resolution Fund (FUR) runs out, the piggy bank created in 2016 with contributions from banks so that the entities pay for their bailouts and not the taxpayers. . “The main reason we have to change the ESM is because otherwise we could not give loans to the Single Resolution Fund – since it can only lend to the States and the EU institutions. This with the new treaty this will be possible & rdquor; but “it will only happen if the FUR runs out of money and we hope it does not happen & rdquor ;, highlighted the managing director of the MEDE, Klaus Regling.

In 2018, Eurozone ministers pledged to create this last resort mechanism before the end of 2023 as long as they had been reduced “sufficiently & rdquor; banking risks. In its statement, the Eurogroup admits that the covid19 crisis slow or reduce the trend, but the Eurogroup commits to stay vigilant to protect taxpayers. “There are decisions at EU level that seem so technical that it is difficult to see their political impact at first. The agreement on the reform of the ESM is one of those,” explained the German finance minister. Olaf Scholzon a reform that will strengthen “the euro and the entire banking sector.”

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