“Let's stop criticizing our banks!”

More than ten years after the subprime mortgage crisis, all the light has not been shed, and yet the idea of ​​the guilt of the banks has taken hold firmly in people's minds. They are even blamed for the double fault, since after playing with fire and triggering the crisis, they allegedly asked for help from the States. This unanimous condemnation, the result of incomplete analyzes, is a heavy component of the bank bashing that has raged since then and unfortunately works against our interests. We are indeed at a critical moment when Europe, faced with the domination of American finance and the dollar, must develop its own financial capacities. The development of a strong pan-European financial sector is therefore essential if we particularly want to foster the emergence of future European gafas. 
If it is vain to hope for the complete disappearance of this bank bashing and, one might say, of the bashing market whose roots plunge both in history and in ignor…

Australia to force Facebook and Google to pay for media content

The giants of the web will have to proceed to the cash register. Australia announced Friday July 31 that it would force Facebook and Google to pay the country's press groups for their content. An unprecedented step to protect independent journalism which should be scrutinized around the world. "It's about making sure we have increased competition, increased consumer protection, and a sustainable media landscape," said Treasury Secretary Josh Frydenberg.
 

The latter said Australia would become the first country to force Facebook and Google to pay for content provided by news groups, as part of a royalty-inspired system set to be enacted into law this year. “Nothing less than the future of Australia's media landscape is at stake,” he added.

Google's wrath

The move comes as America's digital giants face pressure around the world to be subject to tighter regulations, and their bosses have been questioned by a U.S. congressional commission on competition practices.




Last year, following an investigation into the health of the newspaper market and the power of American platforms, the Australian government asked Facebook and Google to negotiate a voluntary agreement with news groups to use their contents. Talks were unsuccessful and Canberra took a tougher tone, setting a 45-day deadline for a deal to be reached. In case of failure, the Australian regulator will set the terms of the "code of conduct".

Google said the measure ignored the "millions of clicks" the firm directs to Australian news publishers each year. "This sends the worrying message back to businesses and investors that the Australian government is going to interfere instead of letting the market work," a Google executive for the region said in a statement. "This does nothing to solve the fundamental challenges of creating a business model suitable for the digital age," added Melanie Silva.

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