THE BMI (World Bank of Investments) ALREADY WORKS DISCOUNTING THE EURO

I have seen and read an article on the reference hypothesis and I would like to crumble it seems to be that the mentioned international institution already prepares its contracts of loans and investments having the possibility that they begin with Eurus and finish you go that is with what it sights 

It is not strictly the situation of Greece, Portugal, Ireland, Spain and Italy what produces this situation is the verifiable reality of a currency that already begins not to represent anybody although absurdly the BCE and Germany maintain it at some incredible levels that he won't be able to maintain for pure logic. 

Of following the situation of valuation of the euro and the recession of the economies that should sustain it is this way it more than evident that he doesn't have left many adventures that to run to this currency that we denominate euro doesn't know if they presented suspension of payments (pure and hard default, without rescue partially) the nations in crash technique that I have mentioned, to those that now Holland will already add, but of following this way the European economy the following thing it will be, necessarily, to be left the unique currency. It is a new scenario that would affect too many countries and that they already contemplate the monetary institutions. These would be the main consequences. 

If euro to leave place to some new currencies, a new peseta, a new shield, a new Lira etc. The new currencies would be born with a reference value he can that it bends if he stays the euro or simple if you should compare with the world pattern of reference the Dollar  

This new situation would cause many advantages since it would structure but really the economy of each country, with he would happen to it to some more competitive Exports according to the real costs of each country: abroad they would be necessary less dollars to buy products. A similar effect would take place in the tourism. This at the moment would go very well since to Spain in tourism we are a world power and as the main factories with important manpower storing are of multinational character they would be suddenly under better conditions in front of the other European factories. Give it - location of signatures as Sony Sharp Yamaha and others had not been necessary because our salaries would make comfortable to those of the Europe of the east. 

On the contrary the Imports would be more expensive: the cared products would be more expensive. As Greece, Portugal or Spain and Italy they care all the petroleum and the gas that consume, practically the energy and the transport they would be shot of price. But it would be not necessarily harmful completely. Obligatorily he would decrease the consumption of external products and the internal consumption would be nationalized increasing the production of national products. And the imports of matters cousins would raise in price in function of the real devaluation of the new currency, he would be necessary to make a study because maybe the final cost of our scale of payments would not be unbalanced as much as it can be thought. 

Danger of Inflation: he not necessarily has to be given an inflationary scenario. It would depend on the types of interest that fixes the central banking of each country with regard to their new or old foreign currency. here he would be necessary to know that monetary politics would adopt the BdE I calculate that we would leave to 3,75% of interest of the money that is to say more or less 2,5 points above the current Euribor. This should allow to maintain an inflation between 3,5 and 4% as first objective. 

As the BMI it already prevents the Debts to pay those corrected, as much the passive ones as the assets should suffer a revaluation according to the parity of the new currency on the other ones so if I owe 1,000 € and I have a capital of 2000 € my debt it is of 50% of my capital, if when transforming the figures to my new currency this it is located in 168 Ptas. / €, my countable situation will be: debt 168000 ptas. And my capital will be 336,000 Ptas. Then the equivalence is the same one. 

The types of interest would have to ascend unavoidably to avoid an inflationary hairspring and to try to moderate the flight of capitals. I imagine that they would follow the differential that maintains the sovereign debt with the German this never changed already it was this way before now and while Germany is Germany it didn't change. 

In a principle the credo problems cost of reactivating them but not for the foreign currency change but because there is not money in the economies affected the possibility to act on your own currency nevertheless and economy would reactivate the much more credo easily.  I don't believe that the situation went to worse than the one that there are now the small banks they would have less since pressure they would move but internally and better its clients would have less possibilities to go outside, so probably they would increase its business of national character, the two big Spanish banks neither he would make them tickle 75% of its business it is already outside of this problem they would simply take its power station of operations to the most advantageous country and they would continue acting as if such a thing.  

The Governments would have more problems to be financed in the debt markets it would depend that is to say on the conditions of the accounting of the state of the countable deficit of the state in their percentage if he moves in the same current parameters or the improvement that it would improve them sure and also of the additional guaranties of the treasure of the state, Other foreign currencies, gold, etc.asi like of their new GDP.  

The internal debts of the families and the companies have already been explained before the debts they transform to the new currency and they are paid with the same currency, likewise the wages that would be adjusted to the quantities in Ptas. resultants of the conversion with regard to the value in front of the euro that is to say the family that now wins a wage of 1000 € it would pass to charge 168,000 Ptas. 

The production and the economy of the companies the most probable thing is that they would be balanced it is but the necessity to lower costs would make that manufactures more products in the country again and above we would reduce the unemployment, but I will tell them a thing they know the cheap ones that they would be for example WW. SEAT. And AUDI - Q-3  

The entrance banks if they would be a little disoriented by the extra work of having to revalue everything and to cohabit with an operative of constant change, but I have already said before the big ones have enough resources it was and it is more I believe that it would alleviate them not to depend so much of the Spanish market. You look me this sees it totally favorable, and I don't mean with this that we leave the euro. But that that if I tell them it is that to the Europe of the Euro it doesn't scare them that Greece, Portugal, and mainly Spain, have to throw of the Euro. If not that we leave us the euro of so many pressures and let us work the same as before.