Loan

finance ministers approve a €30 bn emergency aid mechanism for Greece May 2 - Greece seals deal with EU and IMF opening door to 110 bn euro bailout in exchange for extra budget cuts of €30 bn over 3 years May 18 - Greece receives a € 14.5 bn loan from the EU and can now repay its immediate debt 1200 1000 October 4 Papandreou's Panhellenic Socialist Movement (PASOK) party wins power. At this stage, the government expects the 2009 deficit to reach 6% of GDP December 22 - Moody’s cuts

monétaires (currency crises), - Les crises financières, - Les crises bancaires, - Les crises jumelles.  Les crises dans un contexte d’événements perturbants des années 1990 : - Les séquelles de la crise de l’endettement, - Les Savings and Loan aux U.S.A., - Les difficultés majeures des institutions financières japonaises, - L’épisode de la Barring’s, - La crise mexicaine, - Les difficultés du plus grand Hedge Fund américain : Long Term Capital Management, - Des signes précurseurs

a) He has to fulfill his contractual obligations b) Must be a 1st class deptor c) The bill must be guarateed by a reliable bank d) Possible in a limited number of currencies 2) Buyer credit (= the supplier’s or his bank grants a loan to the buyer) - Tender bond (or bid bond or tender guarantee) – guaranty of 1%-2% up to the tender amount for the buyer to be sure the seller will sign the contract - Performance Bond – guaranty of 25% more than the amount of the contract that

stability program w/ budget gap cut to 2.8% of GDP in 2012 from 12.7 in 2009 May 2 - Greece seals deal with EU and IMF opening door to 110 bn euro bailout in exchange for extra budget cuts of €30 bn over 3 years May 18 - Greece receives a € 14.5 bn loan from the EU and can now repay its immediate debt March 25 - Euro zone leaders agree to create a joint financial safety net for Greece with the IMF February 2 Government extends a public sector wage freeze to those making below €2,000 a month for

– Wahaha’s history Established in 1987, Hangzhou Wahaha Group Co., Ltd has developed into China’s largest and most profitable beverage company. Wahaha was formerly a sales department in a school run business of Changsheng district, with a loan of 140,000 RMB and 3 employees. Currently, Wahaha established 150 subsidiaries in 29 provinces, totally 58 production bases, with the total assets of 30 billion yuan, and 30000 employees. In 2009, Wahaha’s operation revenue reached 43.2 billion RMB

Différents travaux laissent croire que ces deux types d’informations diffèrent et que plusieurs dimensions permettent de les distinguer. Nous synthétisons, dans le tableau suivant, les principales différences entre l’information hard et soft. 130 Loan officer dans la littérature anglo-saxonne. 186 3.5. La relation bancaire : enseignements théoriques et empiriques Tableau 12. Caractéristiques de l’information hard et soft Information Hard Information Soft Forme - chiffres -textuelle

financed by the bank loans. This leads to an increase in working capital by 1.5 times. Presently most of the small companies have two loans, one to finance orders, another to cover stocks. Additional stocks would have to be financed out of the new loan. This would probably be an impossible financial construction due to the lack of funds to pay back credits. The financial markets are still unstable. Banks may not be willing to approve credits, and due to the high risk, the interest rates would be

global Level= World Trade organisation Risks in IT= 1) political risks= wars, terrorism 2) commercial risks= insolvency !! (selling goods , collecting money later) 3) Financial risks= Exchange risk (different exchange trade), interest risk (by taking a loan) Free Trade: is a market model in whih trade in goods and services between or within countries flow unhindered by government-imposed restrictions. NAFTA: North American Free Trade Agreement Signed in 1994 between Canada, The USA and Mexico. Creating

mort Almost = presque Release = libérer To declare / to state = déclarer To make statement = faire une déclaration To blackmail = faire du chantage A mortgage = emprunt immobilier To morgage = hypothéqué To borrow mony from = emprunter A loan = un emprunt A file = un dossier Furniture = des meubles => attention il est déjà au pluriel, il ne prend donc jamais de « S » au singulier Along = le long de Beside = next to = near = à côté de … Through, across = à travers Toward = vers

(crédits hypothécaires aux ménages) o CMBS : Commercial Mortgage Backed Securities (crédits hypothécaires aux entreprises) • ABS : titrisation de tout autre type d’actifs. o CBO : Collateralized Bond Obligation (obligations) o CLO : Collateralized Loan Obligation (prêts bancaires) o CDO : Collateralized Debt Obligation (actifs divers, généralement non hypothécaires) ; la particularité des CDO est d’être structurés en « tranches » de niveau de risques croissant. • ABCP : Asset-Backed Commercial