You cannot
follow the euro area he collapses this way in the deepest in the political,
economic inefficacy, and of the lack of credibility in itself, the analysis of
the situation is unacceptable in these moments all the ministries of economy of
the ECOFIN, each one in its country, they are calculating and valuing doesn't
eat to save the euro, but as being left without dying in the intent, this it is
the tremendous reality in which are in these moments, the lack of results views
in the reactions of the financial markets regarding all plan of the euro area
they give the rule to this situation.
Neither the
coup d’état hidden in Greece and in Italy, neither the apparent good news of
most absolute of Spain, anything has stopped the fall to the hole of the euro
area, the other circumstances continue being the same ones, also even harming
to the economies that maintain them. France is silent, Germany continues
anchored in its uncompromising foundations and without any vision of
solidarity, in spite of having been alone and of suffering as anybody the
deterioration of its economy, think that for its form of being won't find out,
but the depreciations of their real assets are in these very superior moments
to those of Spain and Italy.
But this
doesn't serve me as comfort, because in definitive it is not good me for
anything, (the wrong of many is comfort of silly) the area euro has thrown the
towel clearly, and this in fact sustains it for the French attitude, I believe
that it will be France the one that precipitated the end, if the positions and
economic plans don't change as a lot them, and the end will be the suspension
and retreat of the Euro and the turn to the political and monetary independence
of the nations of Europe.
It is not
that I am mad the idea, I have told it alone many times a brave that begins to
move in this sense, request I don't know because I sit down or he sensed that
he is cooking the idea in the European chancelleries, and I wrote in my blog
the idea that was Spain the brave, today later all the political disasters and
of political, real and of the royalty and economic, and after so many silences
and it lacks of contact in the German frank axis, it is clear that the brave
almost with all security will be France.
Of course
that I can be in an appreciation error, and to calculate that what cooks can
have a surprise variant, which could be that France, I don't know how, opts to
be preparing the way to dismantle Germany of their destructive theses, instead
of preparing their exit of the euro, in fact using this possibility like final
ultimatum, be like be, the certain thing is that I support any movement that
spreads to unblock the irreversible end of the European Union, whenever it is
with a positive solution, but I don't want to support to maintain it neither
one minute more, with some actions so negative and interested, as those that it
proposes day after day the German politics.
It is that
the negativity that impose the arguments of the Merkel is clear, in fact, I
challenge somebody of my readers to that they tell me one alone that develops a
reason or action plan, its manifestations are always the same ones: this is not
the definitive solution, the creation of European funds this is not the
definitive solution, the creation of the rescue Fund, this is not the
definitive solution, it is worth you say because, and also say which it is to
their to understand the definitive solution, because the pressures and the
cuttings already go you that they are not it, but rather just the opposite,
except for clearing it is that if they are the solution for Germany that at the
end no matter how much now it loses, it was always him enough advantage to buy
once to the rest of the area euro this it is completely ruined.
Lastly, I
believe that I already exposed it but I make it again, I can grant to Germany
that doesn't want to participate in acts of solidarity with nations that
formerly those that maintained it in waist after two dramatic wars, were but it
is that I find so outside of place this attitude that until I ask for
forgiveness to expose it and to think it, but me contrary to the Merkel always
intent to say what I think, and now I will tell him that if she doesn't want to
reactivate the European because exactly serious recovery Germany who would pay
it in the bottom, I understand it, but there is another possibility that I
exposed in their day, and it is the creation of an organization whose serious
function to negotiate what we could call the European public treasure, endowing
it of an initial capital of 2 trillion Eurus, the trillion that was approved
already one year ago in form of a bottom ghost because nobody has seen it, and
another trillion but I eat margin of security,
These two
trillions mean 16% of the current global GDP, this quantity would be
contributed by the BCE, with the help of the setting in circulation of 2
trillion new Eurus, that would make lower the rate of the European foreign
currency that we cannot really sustain and they are making it lower the markets
without we take out profit some of this circumstance. The countries of the euro
area included Germany; they would deposit in this entity their current
sovereign debts that he would make increase their capital on one hand and their
risk for another.
But these
surrenders would be totally counted unilaterally, so that each country he would
have their debt and their very defined countable parameters, to be able to
qualify her, and to treat her independently, of another debt with the purpose
that each one has their interests and independent costs, that is to say that to
Germany doesn't cost him nothing else that what their solvency rules, and this
way the debt of each country.
Starting
from this controlled reunification, the alone new petitions of debt financing
could be requested and granted by this stamen , and not the open financial
market, to this market the new entity would go, which would negotiate European
debt without specifying of the one who or it stops who is, and once obtained of
the market it would assign it to its addressee counting the different
applications of cost of the same one, according to the parameters of internal
solvency of each country of the euro area. Of course this organization would be
qualified and authorized to negotiate purchases or debt sales or financial
products you tune of inside of and outside of the euro area, that is to say he
should try to make business as another financial entity anyone of the market of
international debt.
I assure
them that one in the best ways of unifying what is, is that what unifies, make
good business and of benefits for the partners, this is a rule of gold that I
have learned during my professional life.
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