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France Plans To Prohibit Cash Payments Over €1,000

February 15, 2013 Comments off

forbes.com

This photo taken on January 5, 2013 shows Fren...French actor Gérard Depardieu gesturing to Vladimir Putin after receiving a Russian passport.

One of the best things about covering payments news is that you never run out of stories where various myopic governments attempt to restrict the flow of cash in a squeeze for revenue.

France becomes the latest as Prime Minister Jean-Marc Ayrault plans to erect new controls on cash transactions in order to tighten up tax collection and meet the country’s optimistic budget deficit target of 3% of GDP. The government needs euros and they need some fast.

In the government plan labeled “Fight against fraud,” France’s fiscal residents would see the cash transaction limit decrease from €3,000 to €1,000 per purchase. However, in a nod to the exiled wealthy and what Wolf Richter calls the “Depardieu exception,” those fiscal residents of a country other than France would have their cash transaction limits reduced from €15,000 to €10,000 per purchase. Legislative measures could be Read more…

Categories: France Tags: , ,

France hit by third earthquake in two days

February 28, 2012 Comments off

For the third time in 48 hours, the south of France was hit by an earthquake.

The latest measured 4.0 on the Richter scale and hit the Alpes-de-Haute-Provence area late on Monday afternoon.

Like the earthquake which hit late on Sunday evening measuring 4.9, the epicentre was just north east of the small town of Barcelonnette.

The latest earthquake was weaker and “felt slightly by locals” according to the French centre for seismology.

A third earthquake hit the western Charente-Maritime region on Sunday morning with a magnitude of 3.8.

Earthquakes are fairly rare in France and tend Read more…

Categories: Earthquake, France Tags: ,

Iran cuts oil exports to France, Britain

February 20, 2012 Comments off

thenelsondaily.com

Mahmoud Ahmadinejad . . . fights back with oil embargo

Mahmoud Ahmadinejad . . . fights back with oil embargo

The Huffington Post

TEHRAN, Iran — Iran has halted oil shipments to Britain and France, the Oil Ministry said Sunday, in an apparent pre-emptive blow against the European Union after the bloc imposed sanctions on Iran’s crucial fuel exports.

The EU imposed tough sanctions against Iran last month, which included a freeze of the country’s central bank assets and an oil embargo set to begin in July. Iran’s Oil Minister Rostam Qassemi had warned earlier this month that Tehran could cut off oil exports to “hostile” European nations. The 27-nation EU accounts for about 18 percent of Iran’s oil exports.

However, the Iranian action was not likely to have any significant direct impact on European supplies because both Britain and France had already moved last year to sharply curtail Read more…

France transfers sensitive warship technology to Russia

June 20, 2011 1 comment

rian.ru

French-built Mistral class amphibious assault ship

© AFP/ Eric Feferberg

France has transferred to Russia all the technology it asked for under a $1.7-billion deal for two French-built Mistral class amphibious assault ships for the Russian Navy, a Russian arms exporter said on Monday.

Under the deal signed on Friday, the first warship will be delivered in 2014 and the second in 2015.

“The French side has transferred all technologies, including the Zenit-9 [command and control] system, as well as two other systems,” said Anatoly Isaikin, head of the Rosoboronexport state-controlled arms exporter.

A formal contract for the construction of the two Mistral class ships will be Read more…

French government bans journalists from saying “Facebook” and “Twitter” on-air

June 7, 2011 Comments off

allheadlinenews

In France, radio and television news anchors are now prohibited from saying the words “Facebook” and “Twitter” on air, unless the terms are specifically part of a news story. The new stipulation comes from a 1992 governmental measure which forbids the promotion of commercial enterprises on news programs.

clearpxl

French news organizations now cannot suggest their audience “follow them on Twitter” or to go to their “Facebook page.”

Instead, they will have to say “find us on social networking websites” or tell viewers to “check out our webpage at this URL to find links to our pages on social networks.”

The French TV regulatory agency Superior Audiovisual Council, or CSA says the French government is simply upholding its laws.

“Why give preference to Facebook, which is Read more…