Download EU Summit Decisions +ECB Action welcomed in Markets

EU Summit Decisions +ECB Action welcomed in Markets, as
€uroArea+MEPs prepare 2012 move on Growth+
Written by ACM
Last Updated: Wednesday, 28 December 2011
EuroFora (http://www.eurofora.net)
- \"As Coordinated EU Action becomes more Effective\", thanks to Decisions taken by
€uroArea's Heads of State/Government on the December 2011 Summit in Brussels
(See \"EuroFora\"s NewsReports from the spot), added to those already made since October,
etc, the \"Systemic Conditions (will) improve over time\" for Banks, Businesses, and other
Financial Markets' players, by \"the Swift and Coordinated Implementation\", in a
\"Committed and Timely\" way, with \"a Reliable and well Coordinated Execution of those
Decisions\", which \"is Now of utmost Importance\"; as \"a prerequisite for the other
Measures to Succeed\", urged\" all involved Member States, their New Financial Monitoring
body, ESRB, in a Statement made at nearby Frankfurt and sent to European News Media,
including \"EuroFora\", on Thursday.
The move includes also a Strong Push by the Central European Bank, which just started from
Wednesday a 1st out of 2 operations almost Half a Trillion € strong each, in addition to EU
Summits' decisions for a 440 Billlions European Financial Stability Facility and a 500
Billions € strong European Stability Mechanism from 2012, as well as 150 Billions € to be
send to the IMF to bounce back, together with other \"G-20\" Partners for Global Growth
focused on €uroArea, in parallel with a growing series of Fiscal Stabilisation Measures due to
definitively cut States' Debt and reCapitalize European Banks, together with Historic
Decisions to resolutely advance also towards a Top Political and irreversible Institutional
Integration of €uroArea and other willing EU Countries at the level of Heads of
States/Governments, due to start \"regular\" work with Measures to boost Competitiveness
and Growth from the beginning of 2012, etc : Apparently impressed by such unprecedented
€uro-Activism, Financial and Stock Markets immediately started to respond Positively by
lowering Interest Rates for Loans to Real Economy while also marking a series of Gains in
Shares' Values, etc.
After French President Sarkozy had pointed, since December 9 early morning in
Brussels' EU Summit, at ECB's anouncement of Loans at 1% for 3 Years, as
\"EuroFora\" reminded on December 13 in EU Parliament's Press Conference of the
\"Green\" Group Co-Chaired by critical Franco-German MEPs Kohn Bendit and Rebecca
Harms, finally, earlier this week, ECB, indeed, launched a \"Massive central bank credit
operation\" on \"Wednesday\", December 21, \"in which the ECB let (European) banks
borrow as much as they wanted for up to 3 years. As a result 523 banks took euro 489
Billions : the largest ECB loan operation in the 13-year History of the €uro\" !, as AP notes
today, observing on Friday that, in consequence, \"European Markets closed Higher\" (See
infra).
--------------------
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EU Summit Decisions +ECB Action welcomed in Markets, as
€uroArea+MEPs prepare 2012 move on Growth+
Written by ACM
Last Updated: Wednesday, 28 December 2011
EuroFora (http://www.eurofora.net)
- \"Noting the Decisions taken thus far both by the Heads of State or Government and by the
European authorities\", ESRB's official anouncement observed on Thursday that \"in
particular, the €uro area Heads of State or Government have agreed on a new “Fiscal
compact” and on a significantly Stronger Coordination of Economic Policies\", while, \"in
order to increase the resilience of, and restore confidence in, the Banking sector, the
European Banking Authority (EBA) has issued a Recommendation for banks to hold a
temporary Capital buffer, (of) 9% at ...June 2012\", and \"the European Securities and
Markets Authority (ESMA)\" decided to disclose and value Sovereign exposures\" according
to \"International Financial Standards\".
+ At the same time, in parallel, \"EU's Central Banks ...have Eased Monetary
conditions. ECB has Lowered its main refinancing Rate + and has introduced Extraordinary
Measures to ease the pressure on Banks : In particular, the ECB has announced 2
Longer-term refinancing operations with a maturity of 36 Months and the option of early
repayment after one year, the Reduction of the Reserve ratio from 2% to 1%, and the
Broadening of admissible Collateral\".
Acting together with €uroArea, \"the Bank of England has also announced a new
contingency Liquidity Facility, .....and Central Banks around the World have re-established
Foreign Exchange Lquidity Facilities\", (f.ex. in USA, Canada, Japan, etc), while China eased
Trade opportunities, in a coordinated move starting to apply recent \"G-20\" Summit's
decisions at Cannes (November 2011), chaired by France, (See \"EuroFora\"s NewsReports
from Cannes' G-20 Summit), ESRB resumed.
- \"Looking Ahead\", \"against this background\", the EU Financial Monitoring body
particularly added, f.ex., that \"It is essential that the EFSF be fully equipped and
operational\" the soonest. At the same time, \"the Resilience of the Financial Sector is to be
increased\", with the \"ultimade Objective of these Measures\" being \"to restore
Banks' Function of providing adequate Lending into the Real Economy\". That's
why, the \"Capital Ratio of 9% should be achieved\" by Banks wihout any \"disoderly or
excessive deleveraging process\", but \"mainly through an Increase in Capital levels,
(and/or) also by reducing payouts\", ESRB advised, so that \"strict implemetation of EBA
criteria .. could support the Supply of Credit and the provision of Financial services to the
Real Economy\".
Indeed, Mervyn King and Andrea Enria, ESRB's Vice Chairs, both stressed, replying
to Press Questions afterwards, that, indeed, the 9% ReCapitalisation of European Banks
must never be done at the expense of Credit provision to the Economy, which should be a
Priority, but only by finding Other ways : - \"The main Message in practice, is that
Banks' reCapitalization must be achieved with other means, i.e. without affecting
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EU Summit Decisions +ECB Action welcomed in Markets, as
€uroArea+MEPs prepare 2012 move on Growth+
Written by ACM
Last Updated: Wednesday, 28 December 2011
EuroFora (http://www.eurofora.net)
Credit to Businesses, ESRB vice-Presidents stressed.
- \"The Intervention by Central Banks is expected to assuage the Funding Pressures felt
by Banks in the EU in the Near Term\". Therefore, \"Supervisors are encouraged to keep the
need for the temporary Sovereign Buffer under review\", and \"collect\" .. \"information for
the assessment of the .. implications of ...Decisions\", because, in the Longer Term, Private
Funding Markets must be reVitalized\".
-----------------------------------------------------------
=> As ECB was bringing \"€uroArea's Liquidity surplus at an Unprecedented level\",
this naturally started also to \"exert a pressure towards Lowering Interest Rates among
Banks\", Reuters observed,, already in less than 1 Day time : - F.ex., \"the Day to Day
Interest Rate lowered down from 0,611% to 0,509%\". On Longer Periods, Interests for 12
Months fell from 1,995% down to 1,988%, that of 6 Months : from 1;662% down to
1;658%; and \"Euribor\" rate for 3 Months fell from 1;410% down to 1,404%\".
+ ESRB's message seems to have started to be understood, if one judges also by this
Friday's EU Stock Markets' rise for +1,02% in London's Footsie, almost
similar to a +0,99% gain in France's CAC, followed by Germany's Dax in
Frankfurt with +0,46%, Eurostoxx 50's rise for +0,76%, while Stoxx Europe 600 index
closed +0.87% up, (added to a +1,1% gain already on Thursday), and USA's Dow
Jones Industrial Average futures followed the EU move with a lower gain of +0,5%, similar to
Nasdaq. But \"Asian bourses lost ground, with China's Shanghai Composite down
-0.2% to suffer its fourth-straight loss\", noted Dow Jones, even if \"Hong Kong's Hang
Seng rose +1.4%\", according to AP.
In overall, Paris' Stock Market won + 4,36% this week, and all \"Europe largely kept its
Gains\", as MarketWatch observed on Friday, after \"a rally in European markets gave
investors reason for Optimism\", according to Thursday's Dow Jones.
A similar overall Pattern had been witnessed f.ex. also last week, when \"..European stocks
recovered ... : Germany's DAX gained +1.0 %... France's CAC-40 added +0.8
%....(and) Britain's FTSE 100 rose + 0.6 %\", after \"PanEuropean indicator FTE
EuroFirst 300 closed with +1,1% gains\", last Friday, while USA's \"Wall Street posted
Modest gains, with the Dow Jones industrial average up + 0.4 % ....and the S&P 500
gaining + 0.4 %\". But in Asia \"stocks faced stronger headwinds ..: Japan's Nikkei
225 index Shed - 1.7 % to close.., a three-week low. South Korea's Kospi lost -2.1 %
....and Hong Kong's Hang Seng tumbled -1.8 %\", while \"mainland Chinese shares
lost ground for a sixth straight trading day, with the benchmark Shanghai Composite Index
falling - 2.1 % , while the Shenzhen Composite Index lost -2.3 %\" (See :
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EU Summit Decisions +ECB Action welcomed in Markets, as
€uroArea+MEPs prepare 2012 move on Growth+
Written by ACM
Last Updated: Wednesday, 28 December 2011
EuroFora (http://www.eurofora.net)
http://www.eurofora.net/forum/index.php/topic,547.0.html).....
The extended EU move forward comes despite worse than scheduled Economic results in
the : -\"European markets closed higher Friday ... even though a batch of Disappointing
U.S. economic figures ....showed that (U.S.) Consumer Spending and personal income
...were below market expectations, while....durable goods orders last month masked a
Decline in a crucial investment\" in the USA, as AP noted.
In direct Contrast with \"Italian Prime Minister Mario Monti's success in gaining
approval for his austerity package\", considered as a \"catalyst for the markets drive at
present,\" according f.ex. to a Spreadex trader cited by AFP, on the contrary, Rating
Agencies reportedly warned that a much more Heavy USA Debt threatens seriously the
American Economy's Rank, and wisely postponed examination of whether they should
Downgrade USA's rating until after the forthcoming 2012 USA Elections, towards
late 2013...
- \"EU has Better (Economic) Fundamentals than USA\", but \"needs Institutional\" reforms
in Economic Governance, recently observed the New Spanish Foreign Minister, former EU
Parliament's Economic/Monetary Committee's vice-President, Margallo y Marfil :
A \"Solution\" finally found with the recent December 2011 EU Brussels'
Summit's decisions for \"a New, InterGovernemental Treaty\", (See \"EuroFora\"s
NewsReports from Brussels' EU Summit).
+ Another prerequisitive for the experienced long-time MEP, Margallo y Marfil, is
ECB's role in facing also with Monetary measures the Global Crisis, and this also seems
fulfilled, after nearby Frankfurt's body's recent Measures to ease Cheaper Loans
to National Banks up to 3 Years resulted in more than 489 Billions € of exces Liquidity which
are now at the disposal of €uroArea's Banks : Reportedly a \"Record\" High, compared
to just 380 Billions € which had been obtained back on 2010 only after 3 ECB's
operations, instead of 1 now.
In comparison, €urozone's 3rd largest Economy, Italy's all Public Debt is
estimated to be between 300 - 400 Billions €, as the Co-Chairman of the \"Green\" Group of
MEPs in EU Parliament, Kohn-Bendit, reminded in reply to an \"EuroFora\"s question,
earlier this week at EU Parliament in Strasbourg, (See relevant DraftNews, already sent to
\"EuroFora\"'s Subscribers/Donors). But this amount of Money was largely overpassed
by ECB's current lending to Banks : 489 Billions € in just one (1) Day !
=> By giving some 500 Billions € to €uroArea's Banks, ECB allowed to Calm
Tensions, .. by proving that Banks have enough Resources to face Businesses'
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EU Summit Decisions +ECB Action welcomed in Markets, as
€uroArea+MEPs prepare 2012 move on Growth+
Written by ACM
Last Updated: Wednesday, 28 December 2011
EuroFora (http://www.eurofora.net)
demands\", so that \"during the next sessions, Stock Markets should keep their current
Momentum and continue to benefit from this week's Good News\", reportedly observed
this Friday a Barclay's expert. -“There was strong encouragement from the ECB for
banks to take this liquidity to ensure that next year there’s much less risk of a problem with
the banks\". So that, indeed, now “there is Less Risk of Banks going under for 2012 than
before this system was in place\", according to other Experts cited by
MarketWatch. \"European Markets rebounded ......as analysts and investors turned more
optimistic about the European Central Bank's larger-than-expected refinancing
operation, aimed at boosting liquidity among euro-zone banks\", Dow Jones' noted
since Thursday.
----------------------------+ Moreover, meanwhile, €uroArea's big Countries' Private Sector's Wealth
is Booming up, accumulating huge amounts of Money : Even after French President
Sarkozy observed that phenomenon and decided to attract some 36 Billions € for a \"Great
Loan\" to Innovative Scientific Research and Technological Development projects of
Excellence, (See \"EuroFora\"s relevant NewsReports since December 2009, etc), France still
has today a \"Higher Private Fortune\" indicator \"than before the (Global) Crisis\" :
Representing some 80% of the overall National Fortune, French Private Fortunes \"jumped
up +9,1% on 2010\", reaching \"10.223 Billions €\".. At the same time, \"Italy’s Private
Wealth is Four times the Size of its Public Debt\", i.e. X 400% Bigger than it, so that, in fact,
\"Europe is Rich enough to repay its debt, objectively speaking\", observed on Thursday
China's \"People Daily\".
++ An additional, New Factor is also the recent fact that \"the Chinese government has
responded coolly to pleas that it use some of its $3.2 Trillion in foreign Reserves to buy
...from struggling governments in Greece, Italy, and Spain. But (Chinese) officials ...have
said they are interested in picking up European Assets\", according to \"Christian Science
Monitor\", who reports Today f.ex. a \"3.5 Billion $ deal\" by \"China’s Three Gorges Corp.\",
(\"the World's largest hydroelectric project\"), which \"has bought a 21% share in
Portugal’s largest Power producer from the country’s debt-burdened government, in a clear
sign that Beijing may help bail out cash-strapped European nations, but only if it gets
something worthwhile in return\", as China already started earlier to do with Greece's
strategic Shipyards, etc.
Speaking before today's \"largest-ever Chinese investment in Europe\", \"a senior
economic policymaker, Wang Yiming\", characteristically warned that \"he European
economy needs blood, but not in the form of a transfusion asking for us to buy their bonds,”
because, in fact, “We need to create new blood by promoting Investment\", CSM reported.
\"Chinese corporations are growing increasingly adventurous in Europe\":
F.ex., \"Shanghai-based automobile manufacturer Geely bought Volvo in 2010, and earlier
this year the China National Chemical Corp. paid $2.2 billion for Elkem, the Norwegian
manufacturer of key components in Solar panels\". The Government of \"Beijing is
encouraging its state-owned enterprises, many of which are flush with cash, to seek
opportunities abroad, and Europe is a promising destination\", notes CSM, particularly when
Fiscal Consolidation Measures oblige certain EU Governments to privatize assets.
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EU Summit Decisions +ECB Action welcomed in Markets, as
€uroArea+MEPs prepare 2012 move on Growth+
Written by ACM
Last Updated: Wednesday, 28 December 2011
EuroFora (http://www.eurofora.net)
-----------------------------------------------------------+Meanwhile, as ECB reportedly has already anounced its intention to search the right
moment also for a \"2nd intervention\" soon in Financial Markets, which are just showing the
first consequencies of its 1st move, strong of almost Half a Trillion €; (see Facts supra and
infra); it became obvious that a previous Criticism by a part of the Politcal opposition in EU
Parliament on the way that German Chancellor Angie Merkel, in agreement with French
President Sarkozy; had presented a set of Franco-German proposals for a road out of the
Global Crisis, this was unjust, at least excessive or premature, as fas as ECB's role is
concerned ;
----------------
Minority leaders, Presidents of the Socialist and \"Green\" Groups in EU Parliament, Martin
Schultz, and Kohn-Bendit with Rebecca Harms, respectively, all from Germany, (with the
unique \"exception\" of Kohn-Bendit's \"dual\" Franco-German nationality), had
complained, last week in Strasbourg, that \"ECB's role\" had \"not been defined as
much as it should\", (Schultz), and that \"Financially speaking\", there had been not enough
to face the Markets\", mainly because there was \"No clear Signals sent to the ECB\"
(Harms) from the ChristianDemocrat/EPP Majority of Heads of State/Government, as they
had claimed during their respective Press Conferences.
- But, as \"EuroFora\" had observed in a Question raised during the Kohn-Bendit and
Rebecca Harms' EU Parliament's Press Conference by the \"Green\" Group of
MEPs, last week in Strasbourg, \"Unquestionably, there was an ECB Move in Frankfurt,
before the Brussels EU Summit\" :
- And \"in the latest Brussels' Summit,, EU Heads of State/Government spoke about
the recent \"Strasbourg compromise\" on ECB between France Germany and Italy, i.e.
about not making explicit verbal interventions against, or in favour of a particular ECB
action\", in order to respect its independence, we reminded.
- \"But, meanwhile, the (European Central) Bank has (already) started to act : F.ex. there
were Loans with lower interest rates : just 1%, for 3 Years, etc\", \"EuroFora\" observed.
+ And (ECB's President, Mario) Draghi was, at it's well known, at EU/€uroArea
Summit, on Thursday night's crucial unofficial Diner, in Brussels, for the 1st time\",
\"EuroFora\" also observed.
=> - \"So, what you mean is that this wasn't enough yet, or do you want another
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EU Summit Decisions +ECB Action welcomed in Markets, as
€uroArea+MEPs prepare 2012 move on Growth+
Written by ACM
Last Updated: Wednesday, 28 December 2011
EuroFora (http://www.eurofora.net)
kind of Mechanism that you might propose for the ECB ?\", we askled the 2 co-Presidents of
the \"Green\" Group of MEPs to clarify, (paticularly in view of a forthcoming EU
Parliament's \"initiative\" for more \"Growth\", due at the begining of 2012, apparently
wished by all MEPs' Groups, in addition to; but in Harmony with, the specific €uroArea
Summit, initially proposed by the Head of the French Governing Party \"UMP\"; Jean-Pierre
Audy, as he had told us, (See earlier \"EuroFora\"s NewsReports from the latest EU
Parliament's plenary Session).
------------------------------Experienced Franco-German \"Green\" leader Kohn-Bendit's initial Reply to
\"EuroFora\"s question on ECB's role appeared, at 1st sight, differend from what
followed later-on :
- \"I think that the situation is simple : Reportedly, Italy might need something around 300
or 400 Billions € from next year (2012), and I don't speak of Spain or Portugal, etc. If
Italy and Spain have to take that (Money) in the Markets, as they stand today, i.e. with 7%
Rates, can you explain me how Italy might succeed to obtain in a few years a balanced
Budget, with such Interest rates ?\", he asked \"EuroFora\"
-\"If anyone succeeds that, I'll immediately nominate him for the Nobel Prize of
Economy and Mathematics at the same time !\", Kohn-Bendit joked, explaining that \"the
point, today, is how to create the conditions for these Countries to find Money in a way which
allows them to respond also to the (Financial) Stability issue\", (i.e. without excessive
Interest Rates ; Comp. supra). -\"It's not by promissing indefinitively Liquidities to the
Banks that we could solve this problem of Sovereign Debt\", he went on to conclude,
perhaps too fast...
---------------------------------------------But now, a combination of previous and later developments, clearly indicated that what
Kohn-Bendit initially thought as impossible, in fact, has apparently become already
achievable :
- ECB has just offered, this week, to European Banks, some 500 Billions € (i.e. much more
than Italy''s entire Debt), and is reportedly ready to add also a 2nd package of
Liquidities with only 1% as interest rates, for more than 3 Years.(See supra and infra).
+ And French President Sarkozy has already described a possible, practical Scenario,
precisely taking Italy as an eventual example in this regard, as he explained to Journalists,
including \"EuroFora\", who managed to keep waiting without any sleep overnight, from
Thursday to Friday, 8 to 9 December, during the latest Brussels' EU/€uroArea Summit
:
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EU Summit Decisions +ECB Action welcomed in Markets, as
€uroArea+MEPs prepare 2012 move on Growth+
Written by ACM
Last Updated: Wednesday, 28 December 2011
EuroFora (http://www.eurofora.net)
- With an ECB interest rate as Low as just 1%, for 3 Years, f.ex. Italy could ask from Banks
to take that Money, (which is more then enough : Comp. supra), in order to lend it to the
Government at much Lower Interest Rates than those currently practiced in the Financial
Markets (almost 7% now in this case), f.ex. 3%, 4% or 5%, etc., as Sarkozy had explained
in substance. Thus, now, something which was previously impossible and even unimaginabe
in the Past, Today it became both possible and even calculable..
----------------But, despite these new Facts and Possibilities, \"Green\" MEPs' leadership apparently
had already aimed to ask also something more and Differend, from beforehand, (which
wasn't, however, clearly motivated) :
- Thus, f.ex., Kohn Bendit had continued on his full Reply to \"EuroFora\"s Question earlier in
EU Parliament in Strasbourg, by adding, \"also\" the case of \"those 5 Wisemen, who have
(according to the Constitution) the task to advise the German Government, from 5 German
Economic Instituts, and made a special Report taking as a Model what Germany had done
during the ReUnification (of the Country), when a Redumption Fund had been established\",
expressing his \"incomprehension\" why such a more drastic solution had not been adopted
by German Chancellor Merkel's coalition Government.
+ In fact, \"EuroBonds, and also this idea of having a Redemption Fund, is always proposed
in Combination with clear, responsible Measures for Stability\". So that, when some \"always
pretend at Home (in Germany) that those who are in favor would be only those who
don't take care of Stability, this is simply Not the Truth\", had added also \"Green\"
co-President Rebeca Harms from Germany, in her own reaction to \"EuroFora\"s Question,
clearly revealing a persistent trend of the politcal opposition to ask for more measures, even
before having yet tried to seriously examine and try to use the New Tools presently made
available for the 1st time.
-----------------------------------------However, even if she had earlier persisted to find the \"Concrete (Financial) Measues\"
officialy anounced by Brussels' Summit as staying yet \"far away\" from what she
wished, nevertheless, the co-President of the \"Green\" Group of MEPs, speaking later
exclusively to \"EuroFora\", Welcomed French President Sarkozy and German Chancelor
Merkel's firm decision to advance resolutely forward towards a Deep and irreversible
Institutional Integration at the level of €uroArea's Heads of State : - \"I'am;
indeed,glad that they succeeded to go ahead, without being hindered nor diverted by (British
Prime Minister'ss) Mr. Cameroon\", Rebecca told \"EuroFora\" on this Historic move.
-------------------------------------But, even critical debates may stimulate action fpr Growth,where experienced observers
noted that even the most pessimistic estimations stressed that \"relaunch will come, but it
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EU Summit Decisions +ECB Action welcomed in Markets, as
€uroArea+MEPs prepare 2012 move on Growth+
Written by ACM
Last Updated: Wednesday, 28 December 2011
EuroFora (http://www.eurofora.net)
might take some time\", f.ex. on \"Spring\" 2012 in France, which just anounced that it
has already obtained + 1,7% Growth for 2011 since the 3rd trimester, having still 3
Months' results to go.
+ But, meanwhile, the Head of the French Delegation to EU Parliament, from the Governing
Majority of UMP party, Jean-Pierre Audy, launched last week a call in Strasbourg for a
€uroArea Summit specifically focused on stimulating Growth, stressing also to \"EuroFora\"
that he expects it to be a really important event.
=> Earlier this week, EU and €urozone President, Herman van Rompuy, officially
confirmed that, indeed, such an €uroArea Governance (EAG) Summit of Heads of
State/Government will, take place in Brussels on January 30, 2012, focusing on
\"Employment\", putting in practice €AG's decision to start holding \"Regular\", even
\"Monthly\" Summits on Growth's various aspects (Jobs ans Skills, Competitiveness,
Infrastructures; Research and Innovation, etc), with Top Political Meetings at the pace of a
normal Government, (as well as EU Parliament's and EU Commission's, which
also hold Plenary Sessions each Month).
- \"Let there be No Doubt about it : There is a Fundamental Political Will to move forward as
a Union, while respecting fully each other's situation\", stressed in his anouncement
EU's and €AG's Head, Herman Van Rompuy. Now \"we (€AG) must take Strong
action on Employment\", while \"Financial Stability on the €urozone remains absolutely a Key
for our Future\".
Previously, EU Parliament is due to kick off a 2012 campaign, starting with an \"Initiative\"
to help boost EU Economy's Growth in stability, according to an Agreement already
reached by Heads of Politiical Groups, as \"Greens\" co-Chairman, Kohn Bendit revealed in a
Press Conference in Strasbourg last week, after SocialDemocrat Group's President,
experienced long-time MEP Martin Schultz, (who is due to take over the rotating EU
Parliament's chair, according to a complex, controversial and multifacet Deal brokered
shortly after the 2009 EU Elections with the Head of EU Parliament's biggest Group of
MEPs, that of ChistianDemocrats/EPP, Josepg Daul from Strasbourg), launched an appeal
\"to win the Trust not only of Markets but also of our (EU) Citizens\", as he characteristically
said; (See specific \"EuroFora\"s Draft NewsReport, already sent to Subscribers/Donors
earlier).
_______________
All this seems to advance in the Direction of a \"Radical Double-truck Action\" to Reduce
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EU Summit Decisions +ECB Action welcomed in Markets, as
€uroArea+MEPs prepare 2012 move on Growth+
Written by ACM
Last Updated: Wednesday, 28 December 2011
EuroFora (http://www.eurofora.net)
Debt and Augment Growth, (i.e. to relaunch EU's Economy without abusing of National
Keynesianism), for which the President of EU Parliament's biggest Group of MEPs,
Josepg Daul, the re-elected Leader of ChristianDemocrats/EPP, launched last week in
Strasbourg :
- \"Naturally, we (EU) can't have Growth without putting in order the public Accounts.
But, EU must Now focus, with the same Energy and Coordination, into supporting and
developing its Industrial activities, its Exports, its Competitivity. Because \"Europe
won't get definitively out of the (Global) Crisis without a Radical Double-Track action
for Healthy (Financial) Management, from the one side, and for Growth, on another side\",
Daul concluded, adopting the main idea supported also by OECD's experienced Chief,
Angel Gurria, as he had previously stressed in an Interview to \"EuroFora\" (See relevant
October 2011 \"EuroFora\" publication).
It's for that purpose, and on this occasion, that the latest, December 2011 EU Summit
in Brussels, - \"Opened a way towards €uroArea's Governance\",\"showing that we
can, at last, foresee the moment to get Out of the (Global) Crisis : Thus \"26 (EU Member)
States out of 27 acknowledged that Shared Sovereignity is better than a sovereignity taken
Hostage by Markets, and decided to take together their main Political and Economic
Decisions, while also elaborating Urgent (Financial) Mechanisms to be managed by the CEB.
They also adopted strict Rules for balanced Budgets and Deficit Reduction, accepting to
insert them in their Constitution and for their violations to be punished. \"EU Parliament
should keep its legal Role in order to guarantee the Democratic Legitimacy of this process\",
brillantly resumed earlier the re-elected Head of the Biggest Group of MEPs, giving RDV for a
crucial \"Vote on February\" 2012.
.
---------------------The new trend added to European People's smiles when they see some USA
Medias' strange propaganda multiplying attempts to mark Self-fulfilling prophecies,
sometimes with ridiculously Catastrophic Pseudo-\"Prognostics\" to the detriment of Europe :
As, f.ex. that US Radio-TV claiming that \"2012 might be the End of the €uro\" (sic), despite
the fact that the EU Currency always stands firm in Global Markets some ...+ 31% more
Value than a Dollar $.!... The latest laugh being a strange Reuters' presswire on
\"Gallup International\", which reportedly claims that mainstream €uroArea Member \"France
(would) lead the World as the \"most Pessimistic\" country in terms of Economic outlook\",
while, \"among a list of 51 countries, ...Nigeria (sic !) was found to be the most optimistic
country, when considering economic prosperity, followed by Vietnam and Ghana\" (re-sic !!),
as that US Media claims, with a curious sense of Humour...
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EU Summit Decisions +ECB Action welcomed in Markets, as
€uroArea+MEPs prepare 2012 move on Growth+
Written by ACM
Last Updated: Wednesday, 28 December 2011
EuroFora (http://www.eurofora.net)
***
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EU Summit Decisions +ECB Action welcomed in Markets, as
€uroArea+MEPs prepare 2012 move on Growth+
Written by ACM
Last Updated: Wednesday, 28 December 2011
EuroFora (http://www.eurofora.net)
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EU Summit Decisions +ECB Action welcomed in Markets, as
€uroArea+MEPs prepare 2012 move on Growth+
Written by ACM
Last Updated: Wednesday, 28 December 2011
EuroFora (http://www.eurofora.net)
Powered by Elxis 2008.0 (Olympus). Copyright (C) 2006-2008 Elxis.org. All rights reserved.
EU Summit Decisions +ECB Action welcomed in Markets, as
€uroArea+MEPs prepare 2012 move on Growth+
Written by ACM
Last Updated: Wednesday, 28 December 2011
EuroFora (http://www.eurofora.net)
Powered by Elxis 2008.0 (Olympus). Copyright (C) 2006-2008 Elxis.org. All rights reserved.
EU Summit Decisions +ECB Action welcomed in Markets, as
€uroArea+MEPs prepare 2012 move on Growth+
Written by ACM
Last Updated: Wednesday, 28 December 2011
EuroFora (http://www.eurofora.net)
Powered by Elxis 2008.0 (Olympus). Copyright (C) 2006-2008 Elxis.org. All rights reserved.
EU Summit Decisions +ECB Action welcomed in Markets, as
€uroArea+MEPs prepare 2012 move on Growth+
Written by ACM
Last Updated: Wednesday, 28 December 2011
EuroFora (http://www.eurofora.net)
Powered by Elxis 2008.0 (Olympus). Copyright (C) 2006-2008 Elxis.org. All rights reserved.
EU Summit Decisions +ECB Action welcomed in Markets, as
€uroArea+MEPs prepare 2012 move on Growth+
Written by ACM
Last Updated: Wednesday, 28 December 2011
EuroFora (http://www.eurofora.net)
Powered by Elxis 2008.0 (Olympus). Copyright (C) 2006-2008 Elxis.org. All rights reserved.
EU Summit Decisions +ECB Action welcomed in Markets, as
€uroArea+MEPs prepare 2012 move on Growth+
Written by ACM
Last Updated: Wednesday, 28 December 2011
EuroFora (http://www.eurofora.net)
Powered by Elxis 2008.0 (Olympus). Copyright (C) 2006-2008 Elxis.org. All rights reserved.
EU Summit Decisions +ECB Action welcomed in Markets, as
€uroArea+MEPs prepare 2012 move on Growth+
Written by ACM
Last Updated: Wednesday, 28 December 2011
EuroFora (http://www.eurofora.net)
Powered by Elxis 2008.0 (Olympus). Copyright (C) 2006-2008 Elxis.org. All rights reserved.