"Warning: Grassroot Economists May Bamboozle Your Brain"
Jan W. Schafer heads the economic editorial.de. From time to time we call. "We are a kind of honorable school", Shokeman noticed yesterday. "We have to explain our readers to explain what euro protective shields mean. Alternative tarpaulies have no place. Never."
His honest answer prints out what is the EFSF, in the EU Commission and the Ministry of Finance, in editors and institutional advances is reality: nobody creates and publishes alternative tarpaulins for the euro rescue package. Too low were the interventions in preserved possessions, too high the conflict potential for the author of the alternative tarp, either as a charlatan, madman or prosperity secretary itself as the first of the payroll.
In the macro locomotion, positive thinking has been a career killer since the outbreak of the financial crisis. The motto since then: Better doing nothing than the wrong.
Well, I do not have this risk, because I’m not on the payroll. Therefore here a 3-point plan to renovation of the finances of the Euro-17 countries:
5 trillion for young companies instead of new protective barrels — 3-point plan for debt relief and reorientation of the euro area
The euro rescue screen is an expression of a generation war. The reason: the castles and helps for the payment of governmental Old debts serve on the possibilities of ownership of ages, their income, and pensions depend directly or indirectly by government bonds and their operation. In addition, capital-based competing with fixed-bashed age security systems compete. Turned: The funds like to receive the premium income from the solidary surcharge, possibly by legal compulsion.
Since the anxious possibutors also make almost all governments, roll the burden of renovation on art generations. Instead of investing in innovation and growth, trillions are used for ownership of the old ones. Which measures can ensure that, on the one hand, to reduce debt and interest rate, but on the other hand in the future and growth in Europe to invest?
1) 10 million new jobs — 5 trillion euros for European SMEs
The unilateral requirement of corporations and too-big-to-fail banks has guided that young companies can barely get capital. With an investment plan of 5 trillion euros for 10 years, 1 million new companies can be used in the EU-17 countries.Received 000 euros per year — and thus create 10 million new jobs throughout Europe.
The claim does not only apply to high-tech companies, but for all industries, especially for gastronomy, agriculture and trade and production of regional products. The requirement is rendered as a loan with an interest rate of 1.5 percent of the ECB on the banks.
2) lowering of the debts by 50% through Europe-wide load balancing
The unsuccessful Greek rescue has shown that a debt of the state is not possible without burden on private enlargements. According to the example of the German Best Comparison Act of 1952, 5 trillion of the 10 trillion of total debt of the Euro-17 countries will be redeemed by a 12% warranty over the period of 5 years. This will be 1 at the balance sheet date.1.2010 and with a free allowance of 50.000 EURO.
3) Halving the market for government bonds allows real capital markets
By repaying € 5 trillion debt, the market should be permanently halved for government bonds of the EU-17 countries. Thus, government bonds no longer should be a very excessive competition product to shares, but a temporary form of interim financing. Through a statutory debt ban on all EU-17 countries, the euro should permanently maintain a stable for the model of the Swiss franc. Private investments are expected to be reflected again in the shares-based stockhold markets because of their innovation and thus financing innovation.
At the answers, the Schauble gave on Friday Jan Schaerer, you see that SchaBle is only a driven. It’s never about alternatives. The chaotic crisis policy is criticized, but that leads only to a concealment of bitter truths. In ever new constructs, the euro politicians try to sell the openness the meaning of the rescue shielding.
Calm, vertebrate, ignore, appease — these activities have become the main content of politics. The media will gladly transport the message of non-Tuning, but secures you through the daily production of Bad News the job as a critic as a doubting audience.
The pirates alone currently seem to benefit from this general plan — they put the crown with the unconditional basic income, so to speak. EU and governments will be glad: Through the BGE, every such absurd rescue package will immediately increase majority, because then every European is a to be saving microbanker who poked on the point and self-reluctantly permanent transfer of his interest.
Alexander Dill Grundete 2009 The Basel Institute of Commons and Economics, which specializes in researching social capital for the renovation of public finances.