MOVEMENTS FINALLY ARRIVE NOW IN THE BCE LACK TO SEE IF THEY ARRIVE ON TIME OR TOO MUCH LATE

Finally something moves in the BCE and I would like to think that in the economy of the euro area, the Council of Government of the European Central Bank (BCE) it has opted to go down the types of interest to 0,25% from 0,5 previous%. This way, the price of the money is located in the area euro in a new historical minimum, and at the same time with the dollar USA. Although not to confuse the interest with the parity, in this little chapter has gotten this action. The decision supposes a surprise, although some analysts had already spoken of the possibility of a descent. 

You my readers know that I have commented the imbalance of the euro based on the real economy of the euro area for many days. The analysts pointed out before today's meeting that there were two circumstances that could justify that the BCE located the types of interest in a new historical minimum: the strength of the euro and the drop inflation in the euro zone that was located in October in 0,7% stocking what I mean that in some economies he/she already took place deflation 

The president of the organism, Mario Draghi, it has mentioned to the inflation like one of the main reasons to justify today's decision. The area euro could experience a lingering period of low inflation" I say that or he intersects quick this tendency or we will be in deflation like it happened in the great depression of the years 20 or more recently in the Japanese economy, “Draghi has not wanted to sum up how long the low inflation will be, but he has noticed that it won't be a brief period. Yes that has wanted to move away the ghost of the deflation in the area euro, we don't see" it he has said. 

The slope of types and the consequent depreciation of the euro should suppose a help for the companies exporters of the area euro. Among them, the Spanish companies that in these moments of low brutal in the interior market the export is practically its only salvation chart to avoid the strong fall of the internal demand, fruit of the hard economic crisis of the country. Here unfortunately the too scarce and already very weakened Spanish managerial lattice enters in game and value this action I fear myself that it arrives too much later or said otherwise we will take a lot in being able to take advantage of her because when we are redoed the europa rest industrially it will already be under conditions of increasing the costs of the money. 

This that seems foolishness is a trap to half term because I eat Draghi it has pointed out in the press wheel, the measures taken today for the BCE they will also help to that improves the capacity of financing of the companies. This is what they will make the Spanish companies the current ones and those that love each other to mount receive financing to be able to expand again and / or to invest, so or we run a lot or when we receive financing on the part of the Spanish banking, it was so little time of first floor interests that the companies met with some cheap obtained credits that were suddenly very expensive of returning.   

To maintain to the well supplied market of liquidity, besides lowering the types, the BCE will give to the banks all the liquidity that you/they need until July 2015, to a fixed interest rate in its operation of main refinancing, the weekly auction. "The market has taken it to him in a completely undecided way and he will chew the decision to see if he will be able to or not to digest the change that can mean, because these decisions demonstrate that the BCE will make everything that it is necessary so that the recovery in Europe is real, the question is that now the economy is very based on financial speculation and me I have my doubts that the euro area except Germany (always Germany) it is prepared, practically and emotionally, to begin the reindustrialization of their economies.  

Draghi, is afraid that Europe falls in a similar situation to which Japan lived in the Ninety, because the portrait of that is very similar to the current europa. The deflation of Japan began with a lingering disinflation, let us remember that europa imposed the BCE so that in fact brakes the systemic inflation that many members had established as a result of their politicians of devaluation, to get more competitiveness, with everything we have arrived it to the deterioration of the potential growth, we are in an infernal wheel of adjustments structural slopes, we have weakness in the banking. All this takes the types of interest to the drop, the capacity of private financing is overturned to the domestic public sector, and we have a currency appreciated nominally and artificially for the speculation. No, we are not Japan. But they disturb the coincidences.