I fondi di intervento previsti per l' assistenza finanziaria ai paesi in difficoltàtrati sono insufficienti e troppo costosi, mentre servirebbe un piano di ricapitalizzazione e ristrutturazione del settore bancario esteso all’intera area europea.
Il caso greco di spesa pubblica in disavanzo è totalmente diverso dal caso irlandese caratterizzato dall'indebitamento delle banche private; ma l'infelice politica dell'euro-zona ha lo stesso effetto devastante.
Las causas de la escasa recuperación de la economía española. Deberían hacerse políticas de expansión de gasto público y creación de empleo y establecer bancas públicas que garantizaran el crédito a las pequeñas empresas y a los ciudadanos.
The policy and the institutional options taken by core and peripheral European countries do not appear as the result of too haste political decisions or ill institutional design, but as deliberate choices, method in the madness
The Greekcase of public spendingdeficitistotallydifferentfrom theIrish crisischaracterizedby debtofprivate banks,buttheunfortunatepolicyof the euro-zonehasthe same devastating effect.
The real question is the extent of collateral damage that a Euroarea-member’s default – in the form of debt restructuring – would cause, in view of the interdependence between banks and “sovereigns” both within countries at risk and across the entire area.
A tranche transfer of national debt of up to 60 per cent of GDP should be to the ECB which has higher credibility on markets than a debt agency such as the EFSF.
