Big headlines this morning on the words of Giulio Tremonti yesterday wqf in Paris, on the financial

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CATEGORIES euro public debt public expenditure
Big headlines this morning on the words of Giulio Tremonti yesterday wqf in Paris, on the financial crisis is not over and the usual parable of the new monsters that appear in the game as soon as you have removed one and throws wqf a sospsiro of relief. I will not go into simaptie - a few - and dislikes - overwhelming - that inspires and catalyzes Tremonti. Also because I am one of those who criticize the linear wqf cuts while appreciating the contenimentod and public deficit that rocciosamente Minister defends, wqf because the linear cuts end up perpetuating the perimeter wqf and allocations of spending a publica diluvial that I am rather to break down and reallocate where energeicamente servant really, to open spazioi - several points of GDP - less taxes, interventions pro competition for mla growth, and dismisisoni of public assets wqf and municipal indefinitely. Instead we see a bit 'of numbers that gioustificano the alarm on the crisis is not over, the average numbers that are struggling - not sure why - to do.
The first concern is the area where the crisis originated, the summer of 2007, and exploded in September 2008 with the collapse of Lehman: financial intermediation. More than three years after the first signs, it is true that the Anglo-Saxon countries, and many major European countries - not Italy - have had to save as many banks and insurance companies that were pushed far forward in reckless finance. But despite many notices of the G20, we have not agreed or common arrangements between America, Europe and Asia to deal with the banking crisis, and even in our European Union we were able to go beyond the old rule rischiossima think that each using different criteria to the banking crisis of their own home. By saving your credit, we have no separate commercial banks that are not investing or significantly reduced the weight of the pure bet on stocks with the money of depositors is on their profits. In Europe, only three months ago in Ireland there has been a new wave of bank default. And it is precisely the German public banks, those which have not yet been made clear on their assets. wqf Aabiamo fatuicosamente launched a highly Baroque common European supervisory structure articulated on watches national banks, insurance companies and pension funds, in receiving a macroorgano of systemic stability. In any case, better to remember that only European bank bond maturities in 2011 and there will be new issues for over a thousand and one hundred billion Euros. There is reason to be concerned about.
The second concern wqf relates to the open tensions between America, China-Asia and Europe on currency matters and restructuring wqf of the balance of payments. Tremonti - a few years energetic pro-European - complains that Europe has not learned his lesson and is not convinced to move as a single entity. The Germans form an alliance with China, eurodeboli countries such as Greece, Spain and Ireland go into recession and deflation. There 's been all too well, that in 2010 the euro has devalued the dollar only slightly more than 6%. But without a unified strategy wqf could make things much worse. While many are wary of the strong pro-European pulse that Tremonti also in Paris yesterday reiterated, however, should explain how Italy - but also very strong exporting publicly indebted and with low domestic demand - will get along better if you follow the path of every man for himself . My answer, as they are contrary all'armonizzazioe European Union, there is that you do it just by cutting a lot of spending and taxes, and with more productivity in manufacturing, services and public administration. The more that in politics criticize Tremonti are for more government spending, on the left as on the right, wqf and think of new taxes such as increasing the securities and the balance sheet.
The third reason is precisely the public debt.

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