The bag of Athens has closed today with a fall of 6,25% in a day marked
by the uncertainty that surrounds to the main banks of the country and the
doubts about the capacity of Greece to abandon the European rescue, while, the
profitability of the Hellenic funds is shot. It is more than evident that
Greece, will never be able to abandon the European rescue, neither its banks to
pass the stress tests to those that are subjected. If this is what has caused
today the world debacle of the stock markets, I don't have left more than to
say that or they are blind all the economists and governments, or like I come
predicting, he has already decided going disassembling the euro area and
logically the UE.
The escape of investors of the variable rent also moved to the debt
market. The profitability of the Hellenic funds to ten years plays to the
closing of the maximum bag of 15 months. The yields accumulate this way five
weeks of serial ascents. The doubts of the investors have increased after
yesterday the Secretary of State of Finances, Christos Staikouras, reiterated
the intention of the country of carrying out an emission of funds to seven
years, a sample more than its will of leaving the rescue before time. Neither have
they helped the surveys that give the leadership to the Syriza.
All the explanations are commendable with this on reality visible and
the one that remains hidden. Greece is since I enter in the UE by means of some
faked state bills the horse of Troya that somebody introduced in the center of
the square bigger than the UE. I don't believe that was in this case Greece,
repeating the chicanery of Ulysses to take the unassailable Troya, I am not
able to today in day to imagine to who could interest him to place this deceit,
alone I know that they were prepared by a celebrated American advisory bank, to
be able to enter in the European Union in 1981.
The Greek government presented false bills, (with obvious knowledge on
behalf of the German banks) and however it was accepted. Greece, the country
that had been the cradle of the democracy ideals, freedom, cult of the beauty
that had become cultural patrimony of the western world, with the step of the
time had stayed to the line of Europe, not developing own industries and
maintaining a terrifying bureaucracy for its magnitude, it could not be outside
of the new europa, I suppose, the bad of these things is that they are very
beautiful when they are made thinking in that it didn't pass anything and that
he already got ready.
But, instead of getting ready the things they twisted for all, the cared
crisis of the USA and caused by Lehman brothers (of who is said I advise the
bills of Greece), I don't help to fix the things neither the bills but rather I
ruin them like it was logical and what had been possible to fix with a
relatively low figure in that moment (12 thousand million Eurus), the European
Union subjected Greece to a ferocious plan of rescue imposed by the IMF. The
Greek capitals escaped to Switzerland, and their unemployment and null
production really makes economically it unviable.
The main factor that pushes to the rise to the yields of the Greek funds
is the uncertainty on its plan of abandoning before time the rescue, the market
is not supporting this, and it is clear that they are not prepared for what they
seek to make because not alone they cannot advance the rescue, but rather they
will need other, provided the UE wants to maintain Greece like member. Because
certainly them alone they won't be able to be financed in the markets. But neither
have they seemed to have very clear the European partners this possibility,
like it was of apparent yesterday in the Euro group. The countries of the area
of the euro will approach "in November or December" the different
options on the table, of face finally of the European part of the rescue to
Greece at the end of year, according to the words of the president of the Euro group,
Jeroen Dijsselbloem.
We know that the program finishes, we have not heard the Greek
Government officially on how the situation comes starting from January 1, and
there are many options", the president of the Euro group said, at the end
of the encounter taken place in Luxemburg in which you discussed the progresses
in the country. On the other hand, the financial entities continue in the focus
of the analysts. The actions of the national banks collapsed before a report of
Fitch that alerts that the resistance tests to the Greek banking could reveal
the necessity of new capital amplifications, before the big problems that
delinquency in their credit wallets.
In definitive such and like the things are it is finishing the time and
the money to the euro area and it would not be disheveled to think that the
solution is finally to make the decision of being unloaded of dead pesos,
Greece would be possibly the first one and Spain and Portugal the seconds, of
not making it once and for all, the effect costs for the whole euro area every
time will be made but unbearable and maxim, in a moment in that the recession
is the surest road for the whole UE. Not to want to admit the reality won't
already fix the unplayable debt of Greece, neither the almost unbearable of
Spain, both nations are also the paradigm of the unemployment, that is to say
that not alone they don't contribute anything to the productivity of the UE,
but rather they are the true ballast of the same one.
The UE should take drastic measures for very hard that it seems them and
us, because if we continue maintaining the current economic lie, nobody won't
survive and to my way of seeing, alone the possibility to leave an European
nucleus more or less strong that maintain some agreements of market
collaboration and financial help, with the countries that are clearly outside
of the appropriate economic ratios to be sustained in the euro, he will be able
to survive everything. That is to say it would be necessary to maintain an euro
accustomed to area that sustains to an “European common market” in which the
economies of countries like Greece were developed, Spain, Portugal and Italy,
each one for separate and with their own foreign currencies that allowed them
to compete to each other and with the Euro area and to also maintain the
treaties of free circulation of capital people and products.
If
he doesn't take this way an action or similar, don't already doubt it the
population's 60% and the bad economy of the UE, he crawled to the rest, with
that that at the end, the damage will be double we will suffer it all those
that we no longer can buy and those that united they could maintain a horizon
of hope, because this current recession is not 10 year-old thing, the horizon
of this situation I see it much further on, this situation goes toward a prone
end to the social desperation of half europa, and of happening this it is not
necessary to say that consequences would have.
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