Property Rights And The EU By Jonathon Hardcastle

The European Community (also referred to as the European Economic Community) has as its task the establishment of a common market and the progressive approximation of the economic policies of Member States. The term common market has been defined as an area, which consists of two or more Member States that abolish tariffs and other trade barriers in their mutual trade, set-up a Common External Tariff with third non-EU countries and apply the principle of the free movement of the sources of production (goods, labor, capitals) within the territory of that area.

One of the fundamental principles of the European Union is the free movement of goods between Member States. Thus, Member States are prohibited from imposing any restriction on imports or exports might hinder the free movement unless EC Law allows it. The European Union's Institutions through their instruments and law regulations strive to develop a free commercial network that does not suffer from custom duties, quantitative restrictions, or other charges having equivalent effect on imports or exports.

While Member States impose these kinds of restrictions in order to protect their own interests, the Court of Justice, through its decisions, acts to ensure that EC Laws are applied. Free movement of goods means in practice that no regulations or restrictions take place on Member States' borders as Articles 25, 28 & 29 (ex Articles 12, 30 & 34) prohibit them. Specifically, while European Union Members try to impose restrictions of non-pecuniary or pecuniary nature on borders, the Court of Justice acts a 'guard' by examining the legal basis and the purpose of the charge imposed.

Such restrictions or prohibitions shall not, however, constitute a means of arbitrary discrimination or a disguised restriction on trade between Member States. A Member State may have resource to Article 30 (ex Article 36) of the Treaty providing for the said exceptions to justify a measure having equivalent effect to quantitative restriction on imports or exports only if no other measure, less restrictive from the point of view of the free movement of goods, is capable of achieving the same objective.

Although the Treaty does not provide any exceptions, the Court has held in the past, that charges levied for tasks required by EC Law or charges for services rendered, do not breach Article 25 (ex Article 12). Regarding Articles 28 & 29 (ex Articles 30 & 36), the Court has introduced an exception called the Rule of Reason. It permits that restrictions can be imposed on goods as long as the Court of Justice allows them.

Concluding, the burden of proof that a measure is justified lies on the Member State's concern and on the Court of Justice's decision. In the case of industrial and commercial property rights litigation between private parties, the burden lies on the party seeking to oppose the importation or sale of the product concerned. Save measures relating to the protection of public policy or public morality, the adoption of other measures banning circulation of products and being able to jeopardize the free movement of goods lawfully marketed in another Member State, obliges the Member States concerned to exchange information with the Commission so that the latter to be enabled to manage such measures affecting the free movement of goods and settle satisfactorily for business and consumers any problems arising in connection with the internal market.

Resource: http://www.isnare.com/?aid=92681&ca=Finances

Banking For Students And Graduates By Peter Kenny

If you are a student or have recently graduated, then there a large number of bank accounts and financial products designed specifically for you. Although students used to be much derided for the large government grants they received, those days are long gone and students today have to be financially astute in order to avoid large debts. If you are a student or recent graduate then here are some tips about the types of accounts to look for.

Why so many student accounts?

Student and graduate accounts are more and more common, and they usually have a wide range of features and good rates. Although students are generally fairly poor and cannot pay back money they borrow, banks want to offer these accounts to students in the hope that they will remain loyal to their company once they are earning good money.

Student accounts

When you go to university you might have a simple current account, but the best thing to do is to open a dedicated student account. Student accounts offer a wide range of benefits, including vouchers and discounts for clothing and record shops. However, the most important part of your student account is the interest-free overdraft

Overdrafts

When you are at university it is likely that at some point you are going to need an overdraft facility to handle the fees whilst not bringing in a lot of money. Therefore it is essential that you pick an account with a good interest-free overdraft limit. Try and find the bank that has the highest level of interest-free overdraft, because any unauthorised borrowing will cost you a lot of money.

Overall package

Although the overdraft limit is important, you should look at the overall account package. Look at other fees and charges that the bank applies to your account, as well as the extra benefits on offer. Some student accounts will offer students a credit card with their account amongst other benefits. Try and find the best overall account package for your needs.

Dedicated support

In addition to the account benefits, you need to make sure that the student account you choose has dedicated support, as this can help you when times are tough. An even better option is a bank that has a branch on your campus, because a dedicated student bank manager is more likely to be sympathetic to your financial difficulties. Online banking is also something to look out for, as this can help you move funds and pay bills quickly when you need to, as well as helping you to closely monitor your spending.

Graduate accounts

Once you have finished university, many banks will offer you an upgrade to a graduate account. It is worth looking at these when you get your student account, as the right student and graduate package can really help you to move smoothly from student to worker. Whatever package you choose, don’t be afraid to move accounts and banks, and shop around before you make any decision.

Resource: http://www.isnare.com/?aid=93383&ca=Finances

The Bond Market And How You Can Benefit By Joseph Kenny

In the investment world, there are two words we hear more than any others—stocks and bonds. While each can offer their own advantages and disadvantages, both should be included in your portfolio. As a general rule, stocks have outperformed bonds since 1926; returning 10.4 percent against government bonds’ 5.4 percent showing.

However, when stocks go bad—and they will—bonds will always be there for you. Over short periods of time (like the bear market of 2000 to 2002) bonds easily outpaced the growth of stocks. However the world of bonds can be a confusing one, so let’s learn a little more about them.

Why to get fond of bonds

The first word in smart investing is “diversification”. That means you own a good mix of volatile stocks and steady bonds in your portfolio. When one takes a hit, the other will usually hold steady.

Whereas stocks will only give you liquid results when you sell, bonds pay interest regularly, making them an attractive investment choice for retirees looking for regular income.

Bonds are also some of the some of the safest investment choices you can make, second only to cash. U.S. Treasuries offer a risk-free vehicle of stashing funds for a limited amount of time, and you’ll usually see modest gains while you’re at it.

Also, many bonds provide income that’s tax-free. That’s a good thing, even though most of these pay a lower yield than what you might get from taxable bonds.

Bonds at work

When you purchase a bond, you’re basically lending money to a corporation or the government so they can go about their everyday business or complete certain projects. In return, they pay you interest annually and then give back what you’ve invested once the bond “matures”, meaning its term ends.

Now for a little lingo. A bond’s “par value” is the price paid for it when it was new. A “coupon”, is what the bond pays annually in interest. For example, a $10,000 bond paying 8 percent a year would have a coupon of $800. If you don’t buy a bond new, you’ll be purchasing from another person in the “secondary” market, and you’ll pay the current market price on the bond (which fluctuates daily) though still receiving the same coupon. A bond’s “total return” is all the money you will earn off of the bond. That includes the annual interest along with its loss or gain in the market.

Bountiful Bonds

There are a ton of bonds to choose from, but the safest choice is a U.S. Treasury. Interest and payments on these are guaranteed by the “full faith and credit” of the United States Government.

Within Treasuries, there are several bonds to choose from, all requiring different investment commitments, terms, and interest rates.

You can also choose from mortgage-backed bonds, which can yield around 1 percent more than Treasury bonds with a typical $25,000 investment. Then there are corporate bonds. Most of these are issued in $1,000 denominations and have terms ranging form one to 20 years, or even a few weeks to 100 years. The values of corporate bonds depend on the credit of the company you’re bonding. Like everything else, it’s a risk-reward proposition when selecting a corporate bond.

Finally, you can also purchase municipal bonds in state and local governments and agencies. These are usually available in denominations starting at $5,000, with terms of 30 to 40 years. The great thing about municipal bonds is that your interest returns are typically exempt from most federal, state, and local taxes.

Risk-Reward

Though bonds are typically less volatile than stocks, there are still risks. Interest payments can be worn by inflation. If interest rates rise, bond prices will fall. Also, some bond issuers reserve the right to “call” back bonds before term. If this happens, you’ll only get “par value” on the buy back, though “callable” bonds offer higher interest returns than noncallable bonds. Also, if a corporation you have bonded goes belly-up, say goodbye to your money. Finally, bonds, as with most investments, are at the mercy of the ups and downs of the everyday market. Just remember, the longer before your bond matures, the more unpredictable it becomes.

Resource: http://www.isnare.com/?aid=93474&ca=Finances