SO MUCH VA THE PITCHER TO THE SOURCE THAT BREAKS AT THE END

We already take too much time too many years ruining us and waiting that the euro and their incautious users put remedy to the ruin that he came from a distance but that we have raised her and put on weight in our houses and with our lives, in such a way we have made it that we have been left without houses and we are losing the life, if you want to continue this way ahead but I am already full and although I know that it won't be worth at least of anything my exhibition it was perseverance that somebody no longer wants to continue believing in how many of fairies among other things because to my age I no longer believe in miracles. 

We can already go stretching a little here a little over there a rescue here one it removes over there already after five years this is not sustained and lengthening the expression used in my title, so much has gone the pitcher to the source to look for water that at the end the source has dried off and the pitcher has broken so I don't already see more exit that to break up with the idolatry to the god Euro, and to the dream of the European Union. I believe that Greece, Portugal, Italy and Spain have the solution in their hands but it stops that all or some should present suspension of payments (pure and hard default, without rescue partially) the following thing serious, necessarily, to be left the unique currency. It is a new scenario that would affect to the entire containing one and of course to the country that begins it. These would be the main consequences to contrast: 

The euro disappear to leave place to a new or old foreign currency, a new Peseta or a new shield a new Lira etc.… The new currencies would be born devaluated with regard to other foreign currencies as the euro, (if stays for other economies that said it is in passing I believe that not) or the dollar, what would cause: 

A bigger competitiveness of the country in question would offer cheaper manpower that the paid one in Eurus or dollars and of course more competitive exports, abroad would be necessary less Eurus (or dollars) to buy products coming from the new economy. A similar effect would take place in the tourism.  

This at the moment would go very well mainly to Spain, since 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 factories that works in Eurus. Give it - location of signatures as Sony, Sharp, Yamaha and other, they had not been necessary because our salaries would make comfortable to those of the Europe of the east. 

Automatically the imports would be more expensive, and I eat Greece, Portugal, Spain or Italy care practically everything basically the petroleum and the gas that he wastes away, 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 rise 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. 

Inflation?: of course that there would be inflation but doesn't the inflation mean unemployment or that that now happens destruction of industry manufacturer of small industry and of the trade the inflation and of this we do know the old of the place a lot an incentive it is to go prospering you work but to be able to always get a little more, and does he not necessarily have to be given a scenario inflationary outside of the reality. In a national scenario it would depend on the types of interest that fixes the central banking and of the national budgets of expense and of deficit the same as now. I calculate that we would leave to 4,75% of interest of the money that is to say 4 points above the current price of the euro that undoubtedly would continue being the reference. This should allow to maintain an inflation between 6,5 and 5% as first objective. 

The contracted debts would be more expensive to pay them, since many would stay nominated in Eurus. Not necessarily, as much the passive ones as the assets should suffer an appraisement 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 you locates for example in 160 Ptas. / €, my countable situation will be debt 160,000 pesetas, and my capital 330,000 pesetas. Then the equivalence is the same one.  

Financing: the banking would restrict the credit severely; since it would be more conditioned to the external financing that compensates the lack of internal saving. With the most expensive money, of more difficult access and with more risk in the credit operations the interests would grow for families and companies I have already mentioned it but such and like we are today and just as you leave a lot the horizon this non exchange situation regarding the current one. 

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 they would probably 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 State, the government would have serious problems to be financed in the markets of sovereign debt. That would depend on the conditions of the accounting of the state, that is to say of the countable deficit of the Spanish state in 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 Spanish treasure Other foreign currencies, gold, etc.asi like of their new GDP.  

The banking would have to pay its debts in the international markets in Eurus, this would cause that demands, in turn that its debtors make the own thing, it would be given, because, a towering risk of delinquency, in no way the banks would have debts in Eurus in Dollars in Swiss Francs and in the foreign currencies that they wanted they would no longer be forced to the Euro they remember that we have abandoned him, their debtors would pay with the foreign currencies that in turn contributed it is alone question of equivalences it would not alter the risk more than now, if the figures and the payment way. It has 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 160,000 Ptas. 

You look I see in the current situation that to come off of the euro would be completely the only salvation for this country and the other PIGS contrary to what they want to make us believe, and I don't mean with this that we leave the euro unless the situation doesn't change substantially. But that that if I tell them it is that to the Europe of the Euro, it doesn't scare them that to Greece, Portugal, Spain, and mainly to Italy they have to throw of the Euro. If not that we say some it is already enough of so much ignominious treatment and we leave us the euro tired of so many pressures and is seen that we work equally. Because the rich Europeans of the euro could not tolerate without the poor the tremendous disproportion of the value of the euro and the reality of the economy that it should sustain it.