Save Europe countdown begins

Save Europe: the countdown begins

analysts
warned that the beginning of the reverse
countdown to the moment when the rescue economy
Europe will be too late. themselves
begs medical analogy
resuscitation activities.

18
– December 19 EU leaders meet
under the new chairmanship. They have
a chance to launch a joint assault on
economic stagnation and high
the unemployment rate, which threaten
Holistic education: voters
They have protested against the very
EU’s existence. However,
signs point to the fact that this
last “storm” may be crowned
failure.

Anamnesis

18
Eurozone countries are straining all their forces,
to withdraw from the consequences of their
debt crisis has aggravated
and the results of disagreements with Russia
on the Ukrainian question. inflation
the region is at a level much
below 1%, and the average unemployment rate in the jammed
11.5% (in Spain and Greece, this level
up more than half). even locomotive
European Union – Germany – almost stopped.

Former
US Treasury Secretary Larry Summers
describes a condition in which
Europe runs the risk of slipping, as the long-term
stagnation. This is a long-term,
self-sustaining, a strong decline,
like the one that accompanied
The Great Depression of the 1930s.

See
themselves. France’s economy – flat line
cardiogram. Italy and all retreated
in the recession zone. In this case, none of these
the two countries do not reduce their deficit
budget and public debt to acceptable EU
levels. This causes tension
relations with Rome and Paris and Brussels
Berlin.

The president
The EU, which is now retiring –
Herman Van Rompuy – last week
He said in his speech: “Without jobs
economic growth and the very idea of ​​a single
Europe is in great danger. ”
Prior to his successor, Donald Pole
Tusk, will face a serious challenge:
First you need to accept the agreement on a new economic course
politicians.

Mario Draghi: "Work must not only the ECB!"

Save Europe countdown begins

The president
ECB Mario Dragi in August, while
meeting of heads of the world’s regulators
Jackson Hole, outlined the thesis that
It could become the new European course.
He called for greater rigor
the formation of national budgets.
He also recommended a
structural economic reforms,
promoting the growth and shape
large public investments
EU members. Mr. Draghi
quite logically observes that the problems
Eurozone economy should not place
only on the shoulders of the European regulator,
and each country has its part
responsible for general discord.

AT
his speech on Friday, November 21,
he continued to outline the scale
Problems. Draghi painted a pretty
bleak prospects and promised
“As soon as possible” to respond to the
new inflation fall.

All
Also, many experts believe that
“SuperMario” does a good face on
bad game. The opposition within the board
The ECB, led by the Bundesbank leader
Jens Weidmann, prevents Draghi go
for bolder measures: thus, for example,
the introduction of QE (buying
government bonds).

“AT
than most Draghi needs now
– so it is in a high-profile agreements on
summit. They must be, first, on the
the question of investment, and secondly –
about coordinated economic
reforms and significant financial demands.
This will give him the political foundation at
feet, after which he will be able to move
to the beginning of the program of quantitative
liberation “, – he said in an interview
one agency Reuter
senior EU officials. – “But
there is a great risk that the summit
EU leaders to anything not come, and the situation
It will be even worse. ”

internal
restrictions divergent basic
economic situation and the mutual
mistrust – all these factors have a huge
likely to make the summit results
disappointing. France and Italy –
second and third euro zone economy –
now have a big problem, and,
Example Merkel convinced that
they fail in their economic
reforms. Problems more than enough,
but many hope that the leaders
EU still remember warning
Mario Draghi in his speech in Jackson Hole:
“No financial arrangements,
no amount of money can not be a compensation
necessary structural reforms
the euro area. ”

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