The most
important thing is that there is consent" in the breast of the monetary
institution. Draghi that also admits that the fact of the IPC of March was
"an authentic surprise" the decision of maintaining the types of
interest in 0,25% has admitted it has been on-line with that waited by the consent
of the market and he has taken for "unanimity", 0,25% is the lowest
level in the history of the euro and in the one that the types take anchored
from November of 2013.
Neither there
has been surprise with the easiness of deposits that is the interest with the
one that the BCE 'he pays' to the entities 0% to deposit their surplus, in
spite of the already long debate of transforming it into negative to try to
motivate to the banks to that they lend that money so that it arrives to the
real economy. In the later press wheel, Draghi the president of the BCE, he has
manifested that they have decided to maintain the types because the inflation
expectations will continue on-line with that waited and that the inflation
forecasts continue "firmly anchored", the volatility of the prices
and the proximity of “Holy Week” that this year he falls in a later period, it
produces much slower inflation data in March and he can that next month, be
corrected to the rise". During next year it is also expected that the
inflation continues being low, to arrive close at 2016, but below 2%.
Draghi has
repeated that the types will continue in the current or even lower level during
a lingering period of time again. And he has said that "in summary: we
need a commitment for the stability of the prices", we have discussed all
the possible instruments and he has wanted to leave clear that all the measures
have not been drained in monetary" politics to make in front of a lingering
period of low inflation.
On the other
hand, Draghi has alerted of the geopolitical risks and he has noticed of an
application of insufficient fiscal politicians on the part of the Governments.
This is to my view the question like he said in the one titled it is not enough
the consent of the BCE if there are not political consents they are already or
not fiscal, the euro group should have very undoubtedly it should be balanced
that cannot be that the energy have a price for each partner that the credits
flow in some and not in other that the wages are more than twice as much among
some and others that some partners have the one more than double unemployed
that other, and this you cannot consent because all should pay their costs and
to sell its productivity that is to say with the same currency "the
euro."
But they
already come it you the euro group now is in elections and everything is
stopped until after May so don't deceive ourselves if the BCE leaves the things
like they are and already this has been for months this way, it is because the
euro area is also waiting like they will be the things after the elections of
May, it is of innocent to think that a central bank can make political
economic, fiscal, or monetary if its clients each one wants a different and
suitable solution to its particular interests without keeping in mind the
economic state of its other clients.
This problem
is the same one that makes that the UE doesn't work that he enters in recession
no matter how much Draghi tries to deny it you look the more strong it is the
German economy and that of its satellites, but depression will have in Spain
and its equals, and this cannot be this way if one wants a monetary, economic
and fiscal stability, for all now at the moment to the euro area and later to
the whole UE. I sincerely don't see it clear or they change the things or we
are heading to the Europa of the two speeds like for some time Germany
wants.
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