Euro: You Can Not Blame Only Germany And Speculators

By Author: Carlo Rezzonico
Total Articles: 62
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Some commentators have argued that the causes of the difficulties currently experienced by the euro is mainly speculation and behavior of the German government. As for speculation should be noted again that it comes not from malice but from operators adverse facts, which in the history of European monetary union and several of its members have occurred in abundance. Speculation has the merit to highlight trends and harmful to force governments to provide. Without it, perhaps the Greek authorities, Portuguese, Spanish and Italian would not put to work to reduce or groped to reduce the accumulated debt irresponsibly in the past. If the reproach should be is to be moved into action too late. There is another consideration to make: Greece, Brussels providing data do not conform to reality, entered the monetary union to gain credibility and borrow heavily to very low interest rates in order to push beyond any reasonable sociality. Now that's been speculation in the negative sense usually given to the word. We come to Germany. No doubt the government has pursued a policy of erratic, according to the first election, then rip to the ...
... legislature, despite strong opposition among the people, consent to the relief program to members of a monetary union that could be in difficulty. Yet the accusations made against him are largely unfairly. He deplored the reluctance in the initial run in aid of Greece, but to claim that a nation undertakes laborious immediately and without hesitation or reservation in favor of a country where there is a very different concept of work is far too demanding. It has also delivered the rebuke of exporting too much and then to behave selfishly. Now if a country exports a lot, the reason is that it produces more than anywhere else. Equalize the efficiency selfishness is very weird idea. Moreover, since exports are not imposed by force, if Germany is selling beyond its borders because of foreign buyers are. They could, forgoing imports, correct the imbalance. But because they do not benefit. When an exchange takes place under the convenience of freedom always exists on both sides. Even in this profile does not make sense to mention selfish.
Since Germany is progressing more productivity and inflation remains at a level lower than in many other states the competitive advantages of German companies, already significant, increase continuously. Imbalances tend to become greater than ever. The solution of the problem consists in leaving the European monetary union of Germany, which could carry out a revaluation and reduce its competitive strength, or weaker states, which could carry out write-downs. Who wants assistance from Germany and other strong states to allow the permanence of the system of weak states, in essence, they want to perpetuate the conditions that lead to excess and expand the German trade surplus. More selfishness. Horror.
Germany has been at the forefront in implementing, with statements and often unworthy instruments, heavy pressure on Switzerland, who rightly trying to protect the privacy of citizens and therefore their freedom.
Now it's up to Germany the same fact of being in the right but having to endure harsh criticism and expressions spiteful. The story sometimes produces curious twenty-spoken.
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