Out of the European Crisis - www.peti...

Out of the European Crisis - www.petitioncrown.com

Posted in the Business News Forum

Geoffrey Cope

Limassol, Cyprus

#1 Oct 7, 2012
A way forward out of the European Crisis. Control and reduction of the public deficit reduce public wages and pensions and create growth to reduce unemployment.

Let people work without the draconian social laws in the European Union. Deal with excessive cost of pensions, retirement age.

The European quantitive easing, the reassuring investors with confidence from the ecb as a ‘lender of last resort’ to institutions will not work quickly or if at all, there is no banking union, fiscal union and the worst is no will for POLITICAL UNION

The new money being created is not being invested in industry. The people’s money of the EU is being printed to support the banks, is there a case for full nationalisation of the banks not just to protect the present owners capital by improving balance sheets of the banks and pay high salary & pension with no recourse if the directors / managers do not perform. Since 2008 crisis we have not had any directors or there auditors in the courts to answer difficult questions of ‘due care’. These are the institutions that are too big to fail and too big to be questioned all over Europe.

What the European Union proposes as a ‘bond’ solution is not going to solve the crisis or debt and sovereign problems. Having a supervisor over Banking, Central defence, Foreign affairs which are the easier issues should have been dealt with at the beginning of the EU.

The arguments towards industrial territorial blocks such as Russia, Europe, USA, Asia is clear when discussing global futures in principal but the solution are far from clear and the world needs confidence and cannot keep dealing with shocks.

The regional issues are very concerning, China/Japan, Middle East Iran/Israel both saber rattling. Both these issues can affect world stability.

Although not discussed is the European issue that could create social disorder and collapse of a financial sector creating a ‘bank run’ in a specific country/countries.

All members and others will have to accept that Germany is the POWER HOUSE of the ecb and the eu. The price, Germany will want will be the leadership of Europe.

Geoffrey Cope
www.petitioncrown.com

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