We can still hear the shameless reticent news, agreed by the European leaders in the last summit when they are trying to save the European banks, to stabilize Europe and to save Greece from the crisis.
Do we have to accept the bank’s kindness of withdrawing 50% of the Greek’s debt with reverence when it was them, who generated most of the crisis, what a cheek! We all know it was the banks negligence for giving unworthy credits during the years of plenty.
Lets remember a non European nation, the Argentinean debt situation and the banks annulling most of their debt with private and not so clear interest rates, during the famous years of “financial courtroom”
I can see in shame European banking complaining of not having enough capital, as this is one proof of the inability of some European banks in some countries. I understand that such entities need to have a 9% capacity to maximise there services but it is proper that the EU keep an eye on the banks trading especially on credit given to small business and individuals, as we are at the receiving end of the bank’s errors.
It has been said that the EU will put in place a mechanism of guarantees to facilitate the finance of the banks, lets hope it is true, perhaps this is the answer to the financial problems of Europe, or better said, not having done so before is the cause of our present predicament.
We have heard Zapatero and Berlusconi going on their disastrous economic policies, one, not implementing in time the advice from the EU and the other for not even considering implementing them, at least Greece will have to accept the EU supervision of their finance, action very commendable to do in other countries.
It looks as if the world economic melt down has been created by the Europeans starting in Greece, while Merkel goes on with the phrase “if the Euro goes so does Europe” but she does not reduce the surplus capital in favour of the EU.
I believe that the EU should take less notice of the qualification agencies in the EEUU for they are more in favour of the dollar and undermining the euro any time, listen to the Berggruen Institute with there advice “ if Europe does not get more united, the debt will continue impeding growth” and the result will be the destruction of the euro. It is a clear message of the necessity to progress in the political and fiscal unity in the EU.
The EU should have more credibility with the powerful countries and not have to beg for financial help, and this is achievable only when there is one united strategy for:
-Coordinate EU politics
-To have economic independence
-To create jobs
-To better social justice
It is a paradox that Donald Tuck, Prime Minister of Poland said:
We should have more presence (the 17 countries outside the eurozone) now when it is precisely what is needed a unity in policy and identity in forming the Federal States of Europe. Historically, it is the people who push for progress.
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