Enrique Meirelles

This politics strong characterized by a strong fiscal control and reduction of the relation debt externa/PIB and incentives the exportations resulting in a entesouramento of international reserves to be used in periods of crisis, a time that the dynamics of the crises in these countries obeyed a logic very explained well by the diagram below presented by the President of the Brazilian Central White, Mr. Francisco Meirelles for the Brazilian case below. Source: Bacen/Enrique Meirelles This process of entesouramento played much liquidity in the market of headings of the countries central offices and created speculative bubbles. The most famous American real estate bubble that resulted in the Bank in addition Lehman Brothers in September of 2008. When if it analyzes the main world-wide reserves, the emergent countries show its prominence. Inside of this panorama it can be deduced that the crisis of September of 2008 has sufficiently concrete real bases. Of a side, the strong world-wide growth cannot be supported for the strangulation of offers of ' ' tradables' ' energy and foods, a time that the growth of these prices reduced the available income for the accomplishment of the carried through inversions and for the purchase of the produced amounts, that is, a typical crisis of on accumulation of the capitalist system. It is not for less than dficits in the rocking of payments aggravated for the Wars of the Afeganisto and Iraq and the growth of American the private debt north has as that almost countable correspondence the increment of the reserves of the emergent countries in the period.

The monetary politics and fiscal expansionista after September of 2008 of the countries central offices decided the problem conjuncturally, but not in structural way. The structural exit will be the magnifying of the capacity of supply of foods and energy in global scale. In this direction, the increase of the price of the oil and its maintenance in high platforms will contribute to extend the incentive to the biocombustvel and other power plants.

Terrestrial Ways

20. Without damage of the made use one in special law, the insurances are obligator of: ) the bodily injuries the passengers of commercial aircraft; b) responsibility civilian of the proprietors of automachine vehicles of ways terrestrial, fluvial, lacustrine and maritime, of aircraft and the transporters in general; c) civil liability of the constructor of property in urban zones for damages the people or things; d) goods given in guarantee of loans of public financial institutions; e) guarantee of the fulfilment of the obligations of the incorporator and constructor of property; f) guarantee of the payment in charge of borrower of the civil construction, also real estate obligation; g) buildings divided in independent units; h) fire and transport of pertaining the legal people, situated goods in the country or it carried. 3 the obligator insurances had been created with purpose to guarantee the victim repairing of the actual damage for the insured, as in the contract cases of civil liability of automachine vehicles and the transporters in general; civil liability of the constructor of property in urban zones for damages the people or the things, etc. In 07 of December of 1967, through the decree law n 61,867, established the obligator insurance for automachine vehicles, that the time the name received from RECOVAT Civil liability of the Proprietors of Automachine Vehicles of Terrestrial Ways, this foresaw in its article 5 that the physical and legal people, of public law or private, proprietor of any vehicles related in arts. 52 and 63 of the Law n 5,108, of 21/09/1966, referring to the National Code of Transit, are obliged to hold them, how much to the decurrent civil liability of its existence or use. 4 Later, had the revocation of the law of the Recovat, and with this, law 6,194 of 19 of December of 1974 was edited creating Safe from Bodily injuries caused by automachine vehicles of Terrestrial Ways, which received the name from DPVAT, this insurance has for objective the covering of death, permanent invalidity and expenditures of medical assistance of decurrent damages of automotivos accidents, and not properly a safe from civil liability.

Spain Lowers Another

In which we took of year, the price of the floors has fallen a 3.5%, and a 5.7% in the last twelve months. From the registered historical maximum in April of 2007, the house accumulates in Spain a fall of 26.2%. The price of the floors lowers in 12 of the 17 Independent Communities. The adjustment of prices of the floors has not finished: 2011 continue being another year of falls. According to data of the month of July of the Real estate Index fotocasa.es, the floors have lowered a 0.1%. In this way, in which we took of year, the price of the house has descended a 3.5%, and a 5.7% in the last twelve months. According to Fotocasa, the average price of the house of second hand in Spain is placed in 2.178 Euros by square meter ( /m2), which supposes a slight reduction of 0.1% respect at the cost of the month of June.

The floors registered their historical maximum in April of 2007, date in which reached an average value of 2,952 /m2. Since then there are accumulated a fall of a 26.2%. The data of Fotocasa follow the same tendency that the last ones statistics of the Ministry of Public Works and the Economy. According to its last report, the price of the house falls a 5.2% in the second trimester of 2011. The low price in twelve Independent Communities In twelve of the 17 communities analyzed by fotocasa.es low the price of the house in the month of July. The most outstanding falls are those of Galicia (2.2%) and Cantabria and Extremadura (both with a reduction of the 1.3%). The rest of communities registers reductions between 0.8% of Navarre and 0.1% of Asturias. The price raises in five regions. Aragon with an increase of the 1.0% is the community in which the price of this month raises more.