For the first time since the begining of the Crisis, I’m starting to reconsider the position of the Germany. I’m referring particulary to the president of the Deutsche Bundesbank, Jens Weidmann, who is isolated in his opposition to allow the ECB purchase bonds in the European bond markets: it could be that he is right this time! I’m sure that the short view of politics that the German Chancellor, Angela Merkel, has is very dangerous for the future of Europe, however, the way that many people are moving, from the Italian Prime Minister, Mario Monti, to the President of ECB, Mario Draghi, from the Managing Director of IMF, Christine Lagarde to the President of EC, José Manuel Barroso, that is, the way helping the weakest economies of Europe instead of changing the way of thinking about the solutions of the economic problems, going back to the “real” economy, without artificial solutions given from Finance to Economy is definitly worst. The purchasing of these bonds is just another way of cheating because it’s another way to let to the banks earn from things bought for next to nothing using the same money they obtained from the ECB for a good price. It’s the nth degree of a gigantic fraud.
As the Nobel prize Paul Krugman wrote in this article the international Governments have been using the Crisis and they are not searching for a way to solve it. And this is the real tragedy for all of us, normal people, who hope for a better future. There won’t be a better future if we allow them to continue to lead our destinies: it’s time to change or it will be too late. We are 99%, we should remember it!
For further information in italian about the purchasing of bonds read this article.
For further information in italian about the purchasing of bonds read this article.
