Because they create money, which is also the lifeblood of gospodarki.zobacz: Loans in Swiss francs: The concept of conversion is to be built on the feast of the Constitution of May 3 »BTE. Neither honest, neither cheap nor needed »Loans in Swiss francs 7 deadly sins of borrowers, banks and supervision» Płóciennik: francs black swan “Yes invested in the system, banks have played a colossal role in the construction of welfare society rich West. Of course, there were different models. At various stages in its history some countries put up a more competitive credit market, which supports a variety of needs of citizens. Today, many observers, for example, likes to condemn indiscriminately deregulation of the banking system in the United States, which occurred in the last 20-25 years. And in fact, when Congress abolished many restrictions, allowing unprecedented expansion of big financial capital.

Somewhere in the background is the allegation that it was only a result of lobbying by JP Morgan and Goldman Sachs in the White House and on Capitol Hill in times of democratic Bill Clinton’s presidency. Meanwhile, you might as well argue that the Democratic Party saw the deregulation path to low-cost housing loans, which are those that are waiting for the broad masses of the urban middle-class electorate. Especially in terms of balancing the budget after years of the Reagan expansion (yes, yes), government spending and the growing budget gap. This without deregulation to achieve the democrats failed. Well, unless you turn in the more welfare state model, which itself provides citizens with a lot of wealth (housing, education, health care), and therefore their policy towards banks may be more restrictive. At the expense of higher public debt, but at a profit in the form of preventing the excessive growth of banking and financialisation. Credit only for the rich is true that all these tangled motivations? “The core problem is that every government – no matter what the times and conditions holds power – is facing the same conflict of interest.

On the one hand bankers and shareholders, on the other – the holders of bank deposits, and the third – the borrowers. And in between takes tug of war and the search for balance. Are formed on the occasion of alliances, usually short-lived. Is an exciting game that takes hundreds of years again and again. And the result is always open “- sums up Charles Calomiris.

In this sense, the argument that if something is good for the banking sector, must also be good for the state, it is obvious nonsense. On the other hand, there is nothing to wade in the libertarian illusion that the banking system would be best if the state finally left him alone. Because it is also not true. The introduction of a truly free market (if any at all once existed somewhere) end up probably back to the situation before the creation of licensed banking. The loan would be a good difficult to achieve.

Practically accessible only to those for which the creditor can be confident that the loan will pay. So, most likely for those who already have a capital. This in turn would lead to a further increase in social inequalities. End of funded credit moving up the ladder of social entrepreneurship, but the poor out of the house! Banks, of course, are well aware of their role in contemporary capitalism.

I try to play it to your advantage. Their lobbyists are so strong, not because they have large measures of financial pressure on decision-makers. We may not like it, but their main argument is not totally meaningless. And he is invariably: the introduction of new capital regulations means that we will have to limit our ability to borrow money the rest of the economy. Does this mean that the public are against the power of banks so helpless?

Not necessarily. Experienced financial economists Martin Hellwig and Anat Admati posted recently (2013). Important book, “The Bankers’ New Clothes” (New Groove bankers). Bravado cracking down on it with suflowanym public banks argument that we have to choose between economic growth and the stability of the financial sector. And we can not have both of these values ​​at a time. “This is nonsense” – told me a few months ago Hellwig. Here is his reasoning: the banks take money from two sources.

Some of them come from the owners and shareholders. The remaining funds are borrowed from other banks. In the capital it controls only the first category. This is money that has not been borrowed from another bank. A larger amount of such capital makes the bank becomes more resistant to damage. Because is not that suddenly appear and creditors demand immediate repayment of its obligations. Not knowing this, one could conclude that the regulator simply wants the banks have deposited in their vaults some great sum.

And that these amounts would be better used in the real economy. In fact, no one is talking to banks what to do with money. The only thing is to rely less on loans from the others because it increases the risk of provoking a devastating domino reaction. As the fateful 2007-2008. Banks that are companies, after all, can always issue new shares and thus raise the capital needed to meet the requirements introduced.

A smaller banks that do not have access to capital markets, they can spend on capital reserves part of their profits. The same thing can do besides the big players. Sure, it’s not like the banks and that most certainly would prefer not to. The financial sector probably have preferred allocation of profits for other purposes: for example, dividends or bonuses. But this is not a problem controller. This does not change the fact that the story is nonsense, supposedly increase the mandatory reserve capital forced banks to reduce lending. Responsible industry Another postulate is, in turn, greater participation of banks in credit risk.

This in turn about the hollow by young economists Atif titers (Princeton) and Amir Sufi (University of Chicago). Their published in 2014. Loud book “House of Debt” contains many practical and technical ideas to achieve this goal. They go the main point is that credit agreements ceased to be a kind of pact. “There are two schemes of action that attempt to go in this direction,” – explained in an interview with Mian DGP. One is a UK government program “Help to Order”, which was launched in 2013. The other instruments used in interbank trading by Credit Suisse and UBS. They share a common idea: to continue to be a debt with debt, and became more participation.

Especially in a situation where the economy is experiencing turbulence. This can be good to show the example of student loans in the United States. A student taking them may not know how to work out his professional position after graduation. It is possible that hit the period of prosperity and then you will not have any problem with repayment. But it can also be like last time, when the next generation comes out of universities not less educated graduates, for which there is a good job that will allow them to give educational debt. Something similar can be used after the mortgage lending market, making the loan amount from the current price of the apartment. When the falling value of the property mortgage, installment goes down with it.

So that a person buying a property is not automatically lost their entire capital. In developed countries, there are many independent housing price indices divided up into districts. This scheme, which can be called a shared-responsibility mortgage (SRM stands. Mortgage on shared responsibility), is equitable. You can finally push through more favorable from the point of view of society tax changes. – The idea is that the tax system discourages companies to defer and inclined to invest – believes economist at the University of London John Toporowski.

How to do it? For example, by introducing a tax on capital. Commercial or industrial enterprises that hold capital in the form of fixed assets, materials or products partially finite, do not pay. In turn, companies that invest capital in financial assets or banks must pay tax according to the value of these assets. Such a tax also has the effect of deterring further blow to the financial sector, which in recent years took on monstrous proportions. Income would differ depending on the country. In the UK, the introduction of a tax of 1 percent. of all balances could yield 6-7 per cent.

GDP. In Poland, this would be less of course. These are all problems and solutions from the shelf of world finance. In Poland, more trouble is, for example, the ownership structure of the banking sector, formed as a result of privatization of the 90s is not only reflected to us because hiccup fleeing the country profits. But also it creates a real risk that banks operating in Poland addicted its lending from the location of their parent companies (as it was in 2009-2010).

And here you can shrug and say that the ownership structure of the Polish banking sector is no longer anything to be done. But you can also formulate proposals to change the status quo. And such proposals are. From the postulate of greater state involvement in the re-nationalization of banks, and formulated by an experienced financier Stefan Kawalec concept of “domestication banks” (Kawalec says about it in the DGP Magazine February 27 – March 1, 2015.). The second – more versatile – a challenge the homework helper being drawn bankers and politicians to discuss the responsibility of the financial sector for the society. So remind bankers that since abundantly enjoy the privileges and state guarantees (because it is designed in contemporary capitalism), it can not shirk this responsibility.

Such motivations guided us when we published the text of the NBP President Marek Belka “And now I will tell you the truth” (in which the number of 6-8 February 2015. Initiated a discussion about banks). Such talk about the financial sector makes sense. Greater than demonizing and accusing the banks banksters of all the wrongs of today’s world. Such a resolution adopted yesterday, the seven judges of the Supreme Administrative Court, who at the request of the President of the Supreme Administrative Court considered the doubts on how the settlement with the service of customs officers, who agreed to accept a job offer in the National Fiscal Administration.

The question was whether the officers Customs and Tax Service should reach a decision to terminate the employment relationship, if the proposal of employment on the basis of an employment contract (indefinite or definite). The basis for the transformation became law – regulations implementing the Act on the National Fiscal Administration (Journal of Laws of 2016. Item. 1948, as amended.). Its entry into force caused the lost power of the Law on Customs Service (i.e., OJ 2016., Pos.

1799), which regulated the tasks and organization of the Customs Service as a single uniformed formations. As a result of organizational changes was created National Tax Administration, the structure of which was established Customs and Revenue Service. May 31, 2017. Chambers directors administration filed bills to existing employees and officers of the offer of employment or service. Customs officers have just 14 days to accept or deny. Those who did not respond were treated as individuals refusing to accept a proposal. Those who decided to adopt a civilian job, found themselves in a difficult situation.

And this is because their existing service relationship in the service of a preparatory or solid transformed – pursuant to art. 171 paragraph. 1 point 2 of that law – in employment on the basis of a contract for an indefinite or definite. Panels of the Supreme Administrative Court on this issue presented two different positions. Some judges chambers of directors undertook administration Treasury to issue a decision concerning the employment relationship as a result of the transformation of the employment relationship with the adoption of new conditions of employment. The directors did not agree with such judgments.

They filed cassation complaints with the Supreme Administrative Court. Some of them were dismissed, for example. And OSK 1899-1818, and 1744-1718, and I OSK OSK 1900/18, while in the cases and OSK OSK 996/18 and 553/18 and the Supreme Administrative Court set aside the judgments of courts of first instance. At the same time judges in the judgments of the Supreme Administrative Court on February 8, 2019., Ref. act: I OSK 1744/18, 1899/18 and OSK OSK 1900/18 and I recognize that the transformation of the service relationship in the employment relationship requires a decision. The case was further complicated by the fact that the transformation of the service relationship has not been defined in the Act. The legislature accepted fact that it takes place as a result of the adoption of proposals for employment.

While it is forgotten that in the case of ucywilnienia employee comes at the same time to the expiration of the service relationship officer. But such arguments have not found acceptance with the National Public Prosecutor, whose representative at the hearing considered that there is no basis for decisions on such matters, and their release leads to the violation of the rule of law. What now? Resolution of the Supreme Administrative Court shall close the discussion on how to settle such matters. As experts stress, it will be difficult now for a different judgment in the administrative courts. Because the NSA decided that in this case we are dealing with the transformation of the service relationship in the employment relationship. Thus, a labor courts and administrative courts will not examine whether the agreement is properly constructed. – This is very bad news for former officers already, who will have to work in the courts to claim from your employer to issue the certificate of service.

Because it is a record of service is the foundation to apply not only to retire from the system supply, but also the six-month severance pay – explains Jacek Staniszewski, chairman of the Federation of Trade Unions of the Customs Service. – This resolution, however, does not answer the question of what the document will get a person departing from KAS, which will have periods of service and periods of work – indicates Karnicka Alexander, legal counsel, leading law firm specializing in cases uniformed. – We do not know whether it will be a record of service or employment certificate – he adds. Resolution of the case law of the Supreme Administrative Court July 1, 2019., Ref. I OPS 1/19. http://www.serwisy.gazetaprawna.pl/orzeczenia system for determining social security contributions is divorced from reality. How do I change it? [STUDIO DGP] / ** / (function (d, s, d) {var js = vtjs d.getElementsByTagName (s) [0]; if (d.getElementById (d)) return; js = d.createElement ( s); js.id = id; js.src = “https://videotarget.pl/v1/sdk.js” vtjs.parentNode.insertBefore (js vtjs)} (document, “script”, “vt -sdk “)); / ** / Chairman of the Agency for Restructuring and Modernization of Agriculture Andrzej Gross says that EU money is to help young farmers in business. “These funds are primarily used for the purchase of machinery, tractors, can be said to equip the farm.