onsdag 17 augusti 2011

Urgent need for austerity measures for the finance sector

Really poor economic European outlook going forward

Quarterly growth in Germany slowed to 0.1 per cent; in France it has stopped. There is no easy way to restart the eurozone's economic engine. Lex's Edward Hadas and Vincent Boland discuss the problem, and the lack of a complete solution

then what people discuss as a part of a "solution" its said is these Eurobonds (read Economies not able to get deacent financing on their own as they are in such a complete and utter economic distress will be ably to get fundings via Germany). Viable ... anyone?

So with poor economic growth outlook, indebtness as far as the eye can see one can but wonder why financing debt in any weay even should be discussed as part of any solution? Time to reverse this charade. Austerity for the Finance sector and let the banks fail and clear off the debt is whats in fact urgetly needed. Thats the ONLY way to ensure economic growth anytime in the future. If not well have decades of what only can be described as the Japanese disease of anemic growth.

Iceland sure has made progress and should in this regard be seen as the role model approach going forward.

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