FINANCIAL SERIOUSNESS AND SINCERITY OF THE MAN (9 MIN.)
By
Juan B. Lorenzo Membiela (c)
After the «historical» European Summit ended on 29 June, the German
newspaper "Die Welt" published on its front page: "Europe
arrives for our money". It is a terse summary of a reality that is not
entirely correct. It is true that Germany is compromised by what was agreed at
the Summit even her German Federation of savings, but not yet.
German Parliament, then to the Summit, agreed by two-thirds accessions to
the Fiscal Pact and the European Fund for stability and sustainability
(improperly called bailout Fund). From July 1, 2012 is replaced by the European
stability mechanism (MEDE), known by the acronym English ESM (European
Stability Mechanism).
It is a temporary relief for countries in crisis, since then it is hoped
that the risk premium will not rise to such high dimensions. Extreme premium
that is due to the inadequacy of structural measures stimulating
competitiveness. I.e., that the risk premium indicates the need for further
reforms.
However, the Chairman of Germany, Mr. Joachim Gauck, not sign these laws
passed by the German Parliament until the German Federal Constitutional Court
(Bundesverfassungsgericht) to decide on the appeals lodged by the regional
leaders even of the same political party that Chancellor Merkel, the Christian
Democratic Union (CDU).
Deserves attention this circumstance because the German tribunal's
jurisprudence is not prone to transfers of sovereignty to Brussels. Some
adverse judgments contributed to the holding of regional or national
plebiscites and commit the viability of the European stability and
sustainability fund, at least temporarily.
The MEDE can be injected directly into the banks of the countries which so
request an immediate liquidity to avoid insolvency. Its funds are guaranteed by
all States members of the EU and have a capacity of 440 billion loan €.
The lender is rated by Moody's as "Aaa" by Fitch Ratings and
"AAA" by Standard & Poor's as "AA +".
The struggle of Chancellor Merkel, in defense of strict policies of
austerity against Spain, Italy and France has noticiado in excess. That these
nations blocked any other option that wasn't an endorsement for the euro and
the so-called «policies of growth».
I don't think that win or lose in this lance has relevance. Yes there was
and there is distrust of the adoption and operation of structural measures
"in depth" in the affected countries. And a price that will be added
to the types that shall be imposed on the loan that you grant the MEDE.
Measures stimulating for competitiveness extensible to a greater or lesser
extent throughout the European Union. Spain and Italy are not the only problem
but cement the problem.
The prevailing mistrust - cause of the high risk premium - is that will
motivate that along with banking and tax measures be accompanied different ones
that streamlined the State of welfare, labour, public relations and private,
and in general, a transfer of sovereignty in favour of the European Commission
which will be more sparing in the maintenance and Latin cutting subsidies.
The Greek example, not long ago, evidence of how after winning an election
parties Europhiles, radically changed program avoiding any compromised
structural decision. Intra-Community insincerity has unpleasant consequences
especially for countries whose liquidity will be committed even to pay for
essential services.
No doubt the European control over the money that is paid will be
scrupulous (Gertrud r. Traud, 2012). Well is not an investigation into the
causes of this situation. But one of them, is certainly an institutional wear
that began decades ago and that has stunning to who for its mission should have
acted with forecasting and prevention. Without a doubt what is and what ought
to be a managerial position in the Administration has been forgotten in its
very essence, that is, without more, a public and institutional Sector for a
good general and common.
This fact confirms called «determinism
institutional» 2011 (Inglehart), by which a society institutions integrate
culture formed in that society. I.e. worn institutions encourage worn
societies, as integrity institutions encourage societies intact.
Financial inconsistencies flagged mistrust that prevent the crisis leave.
Questionable is not so restrictive measures but positive, creative. For
example, the design of efficient processes in industry or services to increase
productivity, flexible management looking for greater commitment to the
operator, freedom of trade to tackle the crisis with autonomy without being
bound by regulations which hinder competitiveness, the creation of
international networks that facilitate the installation of factories or companies
outside of the European Union, the empowerment of the electronic market,
limited deregulation to the free market ultimately.
These are times of epic not opportunists. It is time for the poetic
deception that says ailing truth. The political demagoguery nothing solved
already. The designed stagings have been left without applause by an empty
Auditorium.
The deconstruction of what Europe has meant as a civilization or image
advanced from what should be a modern world is in decline. Neither India, nor
China, nor Brazil, nor other powerful and emerging economies have invested in
social protection that this old continent has spent. Neither adopts nor
programs that encourage initiative and creativity in its citizens.
It is the time in which everything must be streamlined in proportion to the
economic viability of each State and insecurities that must be controlled by
the knowledge that entails. Modernity has another very different way whose
epicenter is not exactly the man but financial. Some say that it is the same,
because both the one and the other thrive in chaotic in self-dealing and it is
possible that he is right. With humility, let us recognize that the problem is
in each of us, not in others.
Come on purpose the words from William e. Henley:
« […] In the fierce grip of circumstances
I have regretted nor I gave shouts.
Under the blows of the random
My head bleeds, but will not tilt [...] » .
