September 15, 2012

The battle of the euro

Chronic policy of the Friday morning of each morning on luxury Luxury Radio

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Since that the tankers had envisaged to be paid in euro, since China had declared consider diversifying its foreign exchange reserves by including the euro, the European currency was submitted to a real war, any azimuth.Touch to the world dominance of the dollar was considered by the Americans, as a threat to national sovereignty, of a country that lives on credit, to the detriment of the global economy.

We stigmatisa the weakness of the economy of the euro area, one of the finger pointa debt "untenable" of the countries of the south of the European union, to finish by saying, simply, that it was necessary to put an end to this experience, in short, the euro should disappear. The America, debt to the abyssal, to the sick economy, was not a problem to these distinguished economists. No one would have the crazy idea to consider the disappearance of the dollar.And yet, the other things being equal, the reasoning applied to the euro, should in any logical, apply to any area in economic crisis, precluding the dollar zone.

The reality is that the further construction of the European Union, is afraid to those whose the hegemony of their economy, is the cornerstone of their policy. It must be recalled that the crisis that has hit Europe, and particularly the countries of the Union who were reluctant to carry out the restructuring that imposed by the globalization, and the adjustments as demanded by the evolution of the demography, had taken birth in the United States. Certainly, the single currency banned the use of devaluation "regional" and the protectionist measures of yesteryear. The error has been put in place a single currency, without having previously, equip the European Union of the control bodies of budgetary and economic policies of member countries.

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How can we speak of a united Europe, without harmonizing its social structures, tax, banking or legal. How can we talk of solidarity,sansaccepter a next to the Union on the use of the aid occtroyees. Out of the crisis was going on by most of Europe, it is to be what they are attacking the successive summits of the European leaders. The European mechanism of stability (MY), the implementation of the ECB, the European central bank, in the heart of the device, the golden rule for a fiscal discipline, the supervision of banks of the Union by the ECB, are as much of measures to make credible out of the crisis by a united Europe and organized. The draft european union banking, presented last Wednesday in Brussels, granted to the ECB with supervisory authority over the 6000 banks in the euro area, January 2013.

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The decision of the German constitutional court, allowing for the adoption by Berlin, of new mechanisms of rescue of the euro area, lifted the latest mortgages on the desire of Germans to defend the single currency, their currency, as in all the States of the Union. The Bundestag and the Bundesrat had ratified the treaty of my last June, with a big majority. The European institutions embody the european legitimacy. It should give them the means to do this. The latest provisions give them the answers that they were waiting. By the decision of the constitutional court in Karlsruhe, Angela Merkel is seeing its authority asserted, and it is so much the better for the European Union.

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