THE EUROPEAN UNION CANNOT MAKE FISCAL UNION TO THESE HEIGHTS

They are no longer my words those that qualify like firm failure to the UE. The French economist Thomas Piketty has just described from "monster" to the euro zona and of "true catastrophe" the pact of stability in an interview that publishes today the weekly publication "Der Spiegel", in which pleads for a fiscal union and the budgetary harmonization. "With the euro zona we have created a monster", the expert assures who remembers that in spite of having a community currency, the 19 countries that share it have each one his fiscal and political own system in this matter that you have never been harmonized. 

But as always it is left aside the political question and also the social one and this is to keep it so much in mind or more than the fiscal and economic topics have always said it is impossible to harmonize the fiscal of a poor person with the fiscal of a rich one if he doesn't accompany the harmonization to the system of life of their society. Winston Churchill said once "each country has the government that deserves" because well this same it happens with the economy and the fiscal system that I eat its governments' consequence they are those that deserve. 

It is not by chance that the euro area crumbles for the Mediterranean countries its economic disasters they are consequence of its political disasters and of government the Mediterranean societies don't have interest for the alone politics they use it to curse it for their shames and blunders but they don't worry of how to change this situation the economic disasters of Greece Spain Italy and Portugal is not thing of one day this comes from years, of centuries I would say.  

According to Piketty, "this cannot work", like it demonstrates the case of Greece that I eat member of the area euro he has not had the option of devaluating their currency to win competitiveness, he argues. We "need a fiscal union and a budgetary harmonization. We need for Europe a bottom common of paying-off of the debt", the economist points out who she adds that each country would be responsible for paying its part of the debt", but there would "be a type of common interest for the Eurobonds with those that the debt" would be refinanced. 

This now can be no longer the abysmal distances among some economies and other they make it impossible it is curious but the reality today is that the same country or economy that he made possible these des adjusts now cannot fix them I am convinced that the resistance of Germany to the emission of European funds or the unification of the debts in a single European is simply because you go clearly that it cannot sustain a reformation of this soaked one financially without having to go down its economy to the height of the other ones, because what is impossible is that the economies of the South one and that of France already ascends to put on at the level that demands the euro. 

Because I eat Piketty well he says the countries of the euro group they cannot devaluate their currency because it doesn't belong them but rather it is on the contrary they already belong to the EURO in this situation it is impossible that the wealth of the Germany and the countries of the north, they can balance the economies and the fiscal of those of the south because both leave of some differences too accused according to Piketti, this necessary community unification of the debt should "be legitimated democratically", for example through an European Parliament for the euro zona, in which each country would be represented in proportion to its number of inhabitants. This is absurd a European parliament already exists and we already see that it is not good to balance anything of anything because he doesn't have authority on the parliaments and national governments of the respective countries stuck to the euro. 

According to the economist, the behavior of Europe in the crisis has been "simply catastrophic". Five years ago, he remembers, the unemployment rate and the public debt in United States and in Europe it was at the same level. Now, while the unemployment index has fallen in United States, in Europe it has been shot and the European economy is still below the level of 2007, and in Spain and Greece has even contracted 10% and 25%, respectively, he notices. And that he believes he that is the difference that causes this alone dysfunctions is a the USA they are a nation and the European Union is a grouping of interests but he is not a political nation and sovereign 

In that sense, it points out that the own International Monetary Fund already recognized three years ago he had left too far with the politicians of austerity and he adds that the obligation of the affected countries of reducing in little time its deficit has had terrible consequences for the growth. According to the expert, the pact (of stability) it is a true catastrophe, and to agree some fixed rules of deficit for the future cannot work. The states cannot reduce their deficit if the economy doesn't grow, Piketty adds, and he remembers that neither Germany neither France, highly indebted after 1945, they have never paid the entirety of its debt. 

Good Mr. Piketti if what you discover now has thought it these five years ago of those that before spoke maybe today we could adjust the fiscal and to unify the debts and as you he says until condoning them like it was made with the II World War cup debts, and the deficits of Germany and France when it was sought to establish the euro but anything was not made now in those years I have it very clear there is no longer anything to make now it is necessary to wait to see what it passes at the same time with the euro of dollar or less because it would not miss me that you locates to the 0.8 or 0.9 Eurus for Dollar, in this same year this will be caused by the unification of the European debt disguised of purchases of public debt on the part of the BCE the famous European QE these 60,000 million euros monthly, but pity that arrive late two years. 

If Mister you are right us the Europeans, not well organized as we are, we have converted the economic crisis that original arose in United States, in a crisis of the debt for blame of our impracticable political instruments. Tragically, this has become a crisis of trust at European level. Europe is in a serious situation in which the small structural reformations that each country has made for its bill been urgent by Brussels the BCE and the IMF have not made more than to deepen in the economic and social imbalances in the UE. 

In my opinion and I have already told lately it countless occasions the UE it owes re converters her not to attempt reconvert to 19 countries because it is already impossible and the reconversion rests in unblocking the economy of the euro to leave open the economy of the countries so that which wants and he can it continues in the euro and the one that not that you goes outside and readjust its fiscal and its economy like he can and my friends to losses and earnings if many of them cannot pay its debts in Eurus to its creditors that if it is necessary to maintain the union it trades European that is to say it is necessary to return to the old European Common Market that you confirms in 1957 with the Treaty of Rome, and to return him to attempt again.