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A New Beginning of Socialist Era in West Europe, France Elected Socialist President



Francois Hollande

French interior minister, Claude Gean has declared Socialist Francois Hollande the new elected president of France. The declaration came when another big change in the East was taking place as the old icon Vladimir Putin returned to drive Russia for another term, Francois Hollande a socialist leader, will be country’s first left-wing president since 1995, winning with 52% votes against the incumbent, Nicolas Sarkozy. After counting 99% of the ballots, Francois Hollande secured 51.7% of the votes, and Nicolas Sarkozy – 48,3%.

This change in France hasn’t come as a surprise to many as Sarkozy was facing a decline in his well as he came near to the end of his tenure. Banning Veil in the country and taking a leading role in Libyan mission was some of his attempts to regain the popularity, which did not work as expected. Hollande campaign emphasised on being a “normal” President, as opposed to Sarkozy’s sometimes controversial presidential style. The new president has come with some good objectives:

  •  To resorb France’s national debt by 2017 (cancel tax cuts for the wealthy and tax exemptions introduced by Sarkozy)
  •  To raise income tax by 75% for incomes beyond one million euros
  •  To bring back the retirement age to 60 years old, for people who have worked 42 years (full pension)
  •  To recreate the 60 000 jobs in public education, which were cut by Sarkozy
  •  To give the legal right to marry and adopt to homesexual couples
  •  To give the right to vote in local election to the residents without European Union passports, but who have atleast 5 years of legal residency
  •  To regulate rises in rent
  •  To use punitive measures in compelling towns and cities to apply the 2000 Law on Solidarity and Urban Renewal 
  •  To provide public lands for the building of social housing, provided by the above mentioned Law.

Some of the declaration which he made:

“I will be President for all French people”.

“Everyone in the Republic will be treated on equal rights and duties.”

“I spoke in recent months about the French dream: it is our history, it is our future. It is simply called progress!”

“I would like to wish Hollande that France cope successfully with all of its trials”, – said Nikolas Sarkozy who is being replaced by Hollande.
Head of the Russian Federal Agency for the CIS Affairs Konstantin Kosachev said in a statement that the winning of the French presidential election by Socialist Francois Hollande will favourably affect Russian-French relations. Kosachev feels that Russia and France share cultural interests and enjoy extensive civil society contacts [Source: Hollande’s victory to favourably affect relations with Russia – official]. 
Hollande has come at the time when Europe is probably going through one of the worst time. Unemployment is rising and hitting its highest level ever in Europe since the creation of the euro. Hollande’s campaign calls to rewrite not so old, long-negotiated EU fiscal pact to have budgetary discipline, causing uneasiness in the markets and which could disturb German Chancellor Angela Merkel.

France and Germany was responsible for handling the Europe’s financial problem, as German Chancellor Angela Merkel and Nikolas Sarkozy shared good relations, it is now to see how they perform as now Spain has cashflow trouble, Italy is struggling to stay afloat and France, whose performance has gone down, is facing increasing unemployment rate, growing disparity with Germany and alarms of possible downgrade of its rating.

However, German Foreign Minister Guido Westerwelle has given indication that Germany is willing to work with the new President of France positively. “We will work together on a growth pact”.


Now, the question is how will his victory influence the economic future of Europe as a whole. The Economist had earlier labelled him as “the rather dangerous Monsieur Hollande.” However, Thomas Klau of European Council of Foreign Relations said, Europe  should have no real reason to fear Hollande’s victory.

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National Police arrests 60 people for money laundering in Majorca



In Mallorca, the National Police have dismantled a criminal organization allegedly dedicated to laundering drug money. According to preliminary investigations, those involved are alleged to have laundered more than one million euros over the last year.

At the moment, the authorities have arrested a total of 60 people for the alleged crimes of money laundering and false documentation. Although investigations are still ongoing, leading Spanish criminal lawyers have pointed to the possibility of an increase in the amount of money laundered.

In addition to this, specialists in Criminal Law and Financial Crimes such as Luis Chabaneix have pointed out that during the next few days the number of arrests could increase, both in Madrid and in Mallorca. It should be noted that of the 60 arrested, 55 were arrested on the island and the other five in the city of Madrid on Sunday, May 16.

Money laundering of drug money from Mallorca to the Caribbean

According to the founder of Chabaneix Lawyers, Luis Chabaneix, the 60 people who have been arrested by the National Police are being investigated for the laundering of millions of dollars. It is presumed that more than one million Euros from drug trafficking activities have been sent to Latin American countries such as the Dominican Republic and Cuba, and even shipments to the United States have been registered.

In these countries, the money diverted by the criminal association has been used for the purchase of real estate and vehicles. For this reason, the National Police is in permanent collaboration with the North American, Cuban and Dominican authorities in order to dismantle the activities of this group in the different countries.

Likewise, among the main information provided by the authorities, it should be noted that more than 400,000 Euros in cash were seized from the hands of those arrested in Mallorca. Similarly, the police searches carried out on the island led to the seizure of multiple luxury items and accessories, a total of three kilos of cocaine and approximately 60 kilograms of cutting substances.

Two Majorcan companies under investigation

The team of criminal lawyers with an office in Madrid has commented that there are multiple methods that can be used to launder drug money. In the particular case of the criminal organization headed by a nationalized citizen of Cuban origin, one of the methods used to divert the money was international bank transfers.

For this purpose, the use of linked bank accounts of certain front men was a fundamental element. In addition, the case includes investigations of split money transfers through call shops.

On the other hand, through an official statement, the National Police informed that two Majorcan companies have been linked to the ongoing investigation. The reason for this is the issuing of fraudulent invoices for a value close to 200,000 euros.

Through these methods, the criminal organization has managed to launder capital inside and outside the country, legalizing large sums of money allegedly originating from drug trafficking. Undoubtedly, the arrest of the 60 people involved, including the leader of the organization, is a serious blow to the laundering of drug money in Spain.

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Seasif’s Franco Favilla discusses the post-Covid economy and the price of gold



Although the Covid-19 pandemic isn’t over yet, there has been much discussion on the idea of a “post-Covid” economy, especially with the beginning of vaccination efforts in some countries. With markets throughout the world suffering the economic effects of the virus, experts have been looking towards the future –– and one of the topics that often comes up is the price of gold.

In August, the price of gold exceeded US$ 2,000 an ounce for the first time, driven by multiple factors. However, in November, advancements in Covid-19 vaccines led to a decrease in this trend, a result of the turbulent period we are going through.

“Regardless of the market volatility and the price changes that could occur over a given period of time, the fundamental fact is that the price of gold over the course of 2020 has reached an all-time high, and this, in my opinion, is very good news for the world economy,” explains Franco Favilla, founder and CEO of Seasif, a multinational company active in the extraction and trading of gold and oil.

According to Mr. Favilla, the main problem of the pre-Covid economy was the completely arbitrary nature of international finance. At one time, a ton of gold corresponded to a ton of currency, but since the 1980s, and at an impressive rate since 2000, the gap has widened enormously, so much so that today the relationship between the world’s currencies and gold is enormously unbalanced.

Total gold reserves around the world cover only 30% of currencies. This means there is nothing to cover and guarantee the value of money. In short, money has turned into a pure convention, a pure agreement between parties acting outside the market. Gold, on the contrary, guarantees democracy, because it protects savers and the market, offering an objective value for parameterizing every transaction. 

“My hope, therefore, is that the crisis caused by Covid-19 will help to change finance, making it less ‘phantom’ and more linked to an objective dimension, based on gold, with obvious advantages for the real economy. Gold protects consumers, the most important component in any economic system: if you don’t have a market made up of consumers with a certain level of wealth, how can you sell? To whom? Consumer protection must come first, and gold is one of the main ways of protecting them,” states the CEO of Seasif.

Sustainability has also been at the forefront in discussions about the post-Covid world, as countries look towards establishing a more resilient global economy, one able to better withstand such events in the future –– and “green gold” may well be a part of that future. Green gold, in a sense, can be considered the “gold of the future” due to its ethical and sustainable extraction process. Seasif produces green gold, with a department entirely dedicated to green, and has allocated economic incentives to its continued production.

Even as 2020 draws to a close, the future may still look uncertain. But for those searching for greater security, gold may be one of the few certainties left.

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How much money do you need to live comfortably in Spain?



malaga andalusia spain

There are plenty of reasons why you may be thinking about living in Spain: its population is friendly and kind; its climate, especially in the coastal areas, is enviable; its gastronomy is incredible… but, what about its prices? What is the most affordable way to live in Spain?

Perhaps the most important question if you decided to go: would it be better to buy instead of renting a property in Spain. Or yet living in a Spanish residence?

Spanish cities where to live cheap and well

In the geographical variety that Spain presents, we can find many differences in average salaries and the standard of living that reside there would require. The areas of Galicia, Extremadura, Castilla y León, together with Almería and the south of Alicante usually have a lower price of euros/square meter in their homes. The quality of life is really appreciable, but you should know that there are fewer possibilities for business and transports.

The autonomous community of the Basque Country, Catalonia, and Madrid, which have higher than average incomes (normally more than 24,000 euros per year), also have higher prices. However, Madrid has such a wide range of rents that it sometimes makes them cheaper than other countries. 

In addition, and taking into account the tourist seasons, the areas of Valencia and Andalusia are normally a preference when it comes to living in Spain for a while or even spending your retirement. Although day-to-day life can be more expensive than in other areas of Spain, the mild climate and variety of leisure options are often worth it in the long run. 

Whatever your option is when moving to another country, especially if you don’t know its legal system, can be very tiresome. That’s why our advice is to try to contact local agencies (that speak English) to give you fair and fruitful advice. For example, to move to Andalusia, we usually recommend Tejada solicitors

I have already decided on the place. Now what?

Well, if you have already fully immersed yourself in the streets of a beautiful city that we have talked about, what should be your first step?

Decide what kind of stay you want to be in (since your future economic situation will also depend on this: taxes, permits…). You may have already chosen, for example, property conveyancing in Marbella, but it is recommended that you also think about renting a property, because it can be very profitable while you are in your other place of residence.

To sum up, before moving to a Spanish city, decide if you want to spend a little more money per month in exchange for the exceptional conditions that their precious land can give you; secondly, contact a reliable agency that will help you make the best investment and even more, apply for a Spanish residency if you are decided to stay for a long time.

And remember: a move is always a new beginning.

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