Direct ESM assistance to banks would only be politically acceptable if EU member states were prepared to transfer authority for banking supervision to the EU level.
Hay que romper el bucle demencial de la Unión Monetaria Europea.
Another take on how the current European Union’s crisis is being played out…
The anxiety to see Greece and Italy return to the Brussels’ Agreement fold is a sign of the calamity to befall the global economy.
The EFSF reminds me of the tooth fairy – there are those who believe because they are told it will work, and those who try to figure out how it will work, and come out on the non-believer side.
El problema de la zona euro es simplemente de un orden de magnitudes demasiado grande como para proporcionar una ayuda real.
Below the surface of the euro area’s public debt and banking crisis lies a balance-of-payments crisis caused by the misalignment of internal real exchange rates. The path of least resistance seems to be an appreciation in creditor countries through the inflation of goods, services and asset prices. But will the electorates in the creditor countries accept a policy of easy money and exchange rate depreciation or push an exit from EMU?
No va a ser agradable, pero es inevitable: el nivel de endeudamiento es insostenible.
It seems so long ago, but it was just over a year ago the EFSF was first created….
El último paquete de “garantías” del FEEF muestra, una vez más, lo equivocada que está Europa.
The latest EFSF “collateral” package shows once again, just how wrong Europe has it.