You cannot follow the area
euro he collapses this way in the deepest in the political, economic
inefficacy, and of the lack of credibility in if same, the analysis of the
situation is terrible 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 this change, 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, as a lot December nine if he doesn't make it
before, 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 many times and concretely yesterday a brave that begins to
move in this sense, requested I don't know because he knew or he sensed that he
was cooking the idea in the European chancelleries, and I began to write my
blog using or inviting to that was Spain the brave, today after so much silence
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, not you how, opts to be preparing the way
to dismantle Germany of their destructive theses, instead of the exit of France
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 he doesn't want European because exactly
serious funds Germany who would guarantee them 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 makes more than one
month 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 rotted to
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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