IT GOES THE ECONOMY BEHIND SHE DOESN'T WANT TO BE RESCUED

 

The leaders of the area euro have among their hands several fires that to extinguish in next days. The market waits an ambitious plan but it demands him to be concrete and take a short cut the fears to a global economic recession. But this is single declarations of doors to he simply went to impress to the press and to give the impression to the society that they worry about something. In the bottom neither the politicians neither the banks neither the financiers neither the markets want any to fix anything because they continue thinking that any solution goes by its own liberal damage and they hope it rains coffee in the field without necessity of working it. 

Declarations of Durao Barroso as the following one: "The financial sector also has responsibilities, including penal responsibilities. We will make this week a proposal in this sense inside our initiatives to regulate the financial market. they Drive away all the desires that somebody fixes something that it lacks of politics for the god love, with threats as well as they want that nobody collaborates this he stays in the inkwell until the summit has approved the enough measures to throw the final attack but to begin to notice of the bad thing that they will put it is as saying it is better that you don't avenge that you will load it. 

 

The summit of next Sunday should give a firm answer in several fronts. On one hand, the European advice should give an overwhelming solution to the Greek crisis. In this sense, the last information point to that would be pressing the private creditors so that they accept one it removes of the debt of between 50% and 60%, very superior to 21 conventional% the past July 23. The uncertainty is in if the agreement with the creditors and the voluntary participation of the banks will be closed for Sunday. After that manifested for Barroso, and a horn will find the collaboration of the banks

 

On the other hand, an analyst of Morgan Stanley has pointed out that the appointment in Brussels "has the potential of becoming a positive historical moment, but that it can become in a simple way a negative" catalyst. The leaders of the area euro face the most critical week from the beginning of the crisis of sovereign debt, he already makes more than two years. The other front with which the European political leaders should fight this week is the recapitalization of the financial sector.  

 

The exit gave it last week José Manuel Durao Barroso when affirming that a second wave of recapitalizations began in the banks. This weekend the European commissary of Economic and Monetary Matters, Olli Rehn, affirmed that the countries of the area euro were "very next" to reach a very “serious plan”. According to the speculations of the market, the Authority Bank European outlines to elevate the demands of basic capital of the entities until 9%. It is also expected that he modifies the treatment that he receives the sovereign debt in the wallets of credit of the financial entities. 

 

The chancellor's spokesman Angela Merkel has pointed out that the European summit of the next one October 23 won't bring I get a solution to the crisis of debt of the area euro, on the other hand, from Athens, the first minister, announced on Sunday that the Hellenic debt will reach 162% of the GDP in 2011 and it has reiterated that the Executive is making again as much as he can to avoid the catastrophe. That is to say already it is clear that neither Germany wants, neither they want the banks, neither they know what the community leaders want, it is to lose the time until he/she gives pain to think of hands of who the future of our children is I already give for lost mine.   

 

The last summit of the G-20 taken place in Paris has not left explicit messages to the countries of the area euro, but yes that has verified the restlessness of the rest of the world about the inability of Europe to attack its problems quickly and effectiveness, in the face of the growing risk of infection of the crisis. He/she will be necessary to wait to next Sunday to discover the color of the smoke of the leaders of the area euro in Brussels. The G20 ignores that in Europa it is forbidden to smoke in closed local. So neither whites neither black, note but just the opposite.