THE EURO AND THE BCE ARE NOT GOOD TO REACTIVATE ALONE ECONOMIES TO SINK THEM IT ALREADY WARNS IT

It broke the idyll, the markets of euro whole area collapse, this time Draghi has disappointed the investors, because their stories of thousand o'clock and one nights they have already been finished and the worst thing is not that but rather it has recognized that the BCE cannot make but it is what I always tell them in my economic articles the economies based on the operative accountant and financial at the end they explode because the numbers themselves is revealed and their magnitudes arrive to uncontrolled that and not another sew is what is happening and that that apparently the markets have discovered today. 

After the monthly meeting of the Council of Government of the BCE he has left colds to the investors in a first moment, to untie the sales later in all the European Bags. The president of the central organism has given details on the program of title’s purchase supported by credits (ABS) and hypothecary identifications that he announced last, but not so many months as he waited the market. 

Draghi has not given the figure of the program of purchase of private debt and, also, he didn't buy sovereign funds, here it is clear the command of Germany that continues in its intention of not feeding the European economies. This is it that more I worry about because if the euro area, Germany is not activated he will have problems because he was left without clients, unless I eat he already announces its objectives they become toward the east if this is we are this way the countries of the euro area that are gone the two economies that work, the German economies toward the east and the United Kingdom toward the west, be like be today my prediction it is that both financial poles move away from the UE. 

Although Draghi again has reiterated that it is open to approve new extraordinary measures if it is necessary. Magic formula in previous occasions, this time, it has not served for he swims it no longer strains the capital he has already decided that the euro and the euro area is finally of its braked road the hemorrhage salesperson in the Bags they demonstrate this way it. The Ibex has closed with a descent of 3,12% until the 10.518 points. All the values of the selective one have closed in red. Abengoa, with a descent of 8,3%, registers the descents for before Gamesa (-6,11%). The bank sector has been damaged by Mario Draghi deception intervention. Popular it gives 5,11%; CaixaBank, 4,05%; Santander, 3,92%; BBVA, 3,61% and Bankia, 2,99%.   

In the rest of European Bags, the reaction to the words of the president of the BCE was similar of fulminating. This way, the German Dax is left today 1,7%; the French Cac, 2,5% and the FTSE Italian MIB, 3,75%. But notice the difference that exists respectively among a fall of 1,7% of the German Dax in front of the 3,75 and 3,12% of the Italian markets and Spain.  

The concretion lack on the amount of the program of title purchase and a negative message to buy public debt that the market waited doesn't believe that by itself they are the reasons that have made exploit the economic reality of the euro area the truth of the in concretions of Draghi it is that there is not more money to reactivate the heavy economies of the euro area. And what clear Mario has left Draghi is that, at least at the moment, he won't buy public debt.  

The Italian banker has repeated his mantra of the last months again: the recovery is very weak, very fragile, and the countries should continue making reformations if the area euro doesn't want to return to the well. Is this gentleman clearly outside of yes and of the reality that he tries to cover but is he no longer able to, what country has it left the well so that he falls again? Mr. Draghi all the countries except Germany are inside the well and more and more below.  

He has thrown a warning directly to navigators to Germany, when noticing that the countries that have fiscal margin should use it to foment the growth. Germany, France and Italy, three European locomotives, are breaking and they put in danger the recovery, the fourth economy Spain, neither it is counted on her because nobody in the UE is believed the numbers and the bills of the budgets and deficits of Spain the most probable thing it is also that if it ends up having separation of Catalonia and Spain maybe they will owe both to stop to belong to the euro like members of full right to simply become users of this foreign currency in the case that you/they continue, the euro and the euro area I refer. 

In short the BCE and of course Mr. Draghi stays without 'cartridges' also, the president of the institution showed, for the first time, the exhaustion of the monetary politics’ roads. An and another time he has repeated the necessity of structural reformations that they encourage the economy, measures to liberalize the managerial sector and a fiscal politics that it stimulates the growth at the same time that the adjustment of the deficit continues. We "know that there are decisions of monetary politics that are more effective than other, but what is necessary is that they come accompanied by the governments measures”, Draghi remembered for umpteenth time during the press wheel. Higher he can say it, but not clearer, the alone not very more BCE can make he will be necessary to wait and to see what it happens but I advise them that they are not very optimistic.