It's the (German) Banks, Stupid!
by Yanis Varoufakis
....
In our Modest Proposal Stuart Holland and I suggest a simple way out:
A tranche transfer of part of the sovereign debt (which effectively restructures the Maastricht-compliant part of the debt without imposing a haircut),
a selective haircut on zombie banks that rely on the ECB for liquidity (which does not affect the pension funds),
plus (and this is important) the recapitalization of banks by the EFSF in a manner that allows Europe, once and for all, to cleanse its banks of worthless titles and, soon, to return them to the private sector squeaky clean and ready to do business (as opposed to their current function as the EU's black financial holes).
Ignoring the Modest Proposal or some such policy intervention, and continuing with the current, punitive bailouts instead, will lead to the worst of all possible worlds: a deterioration of the debt crisis, a further escalation of the banking crisis, and, in the end, a weakened Germany at a time when its good fortunes in Asia will be waning fast.
http://mrzine.monthlyreview.org/2011/varoufakis170411.html
Yanis Varoufakis is Professor of Economic Theory and Director of the Department of Political Economy in the Faculty of Economic Sciences of the University of Athens.
__________________________________
Αξίζει να το διαβάσετε ολόκληρο - βάζω μόνο τις προτάσεις
Σημειώνω μόνο ότι αυτοί οι οποίοι κερδοσκοπούν εντός ΕΕ/ΟΝΕ γνωρίζουν ότι μπορούν να φτάσουν μέχρι τη Γερμανία... Αυτό οι Γερμανοί δεν το γνωρίζουν..;
by Yanis Varoufakis
....
In our Modest Proposal Stuart Holland and I suggest a simple way out:
A tranche transfer of part of the sovereign debt (which effectively restructures the Maastricht-compliant part of the debt without imposing a haircut),
a selective haircut on zombie banks that rely on the ECB for liquidity (which does not affect the pension funds),
plus (and this is important) the recapitalization of banks by the EFSF in a manner that allows Europe, once and for all, to cleanse its banks of worthless titles and, soon, to return them to the private sector squeaky clean and ready to do business (as opposed to their current function as the EU's black financial holes).
Ignoring the Modest Proposal or some such policy intervention, and continuing with the current, punitive bailouts instead, will lead to the worst of all possible worlds: a deterioration of the debt crisis, a further escalation of the banking crisis, and, in the end, a weakened Germany at a time when its good fortunes in Asia will be waning fast.
http://mrzine.monthlyreview.org/2011/varoufakis170411.html
Yanis Varoufakis is Professor of Economic Theory and Director of the Department of Political Economy in the Faculty of Economic Sciences of the University of Athens.
__________________________________
Αξίζει να το διαβάσετε ολόκληρο - βάζω μόνο τις προτάσεις
Σημειώνω μόνο ότι αυτοί οι οποίοι κερδοσκοπούν εντός ΕΕ/ΟΝΕ γνωρίζουν ότι μπορούν να φτάσουν μέχρι τη Γερμανία... Αυτό οι Γερμανοί δεν το γνωρίζουν..;
2 comments:
Το ελεγχουν αρκετα καλα μεχρι τωρα...
'with a little help from my friends"!
Ζάχαρη
μόλις τέθηκε υπό αμφισβήτηση η αξιοπιστία των ΗΠΑ...
(καλά κάτι ΗΒ είναι μόνο για τα παραμύθια πλέον...)
θα είναι πολύ ενδιαφέρουσα η συνέχεια!
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