Leestips - Zaterdagbijlage DDSFI, 13 juli 2013

U vindt hier de titel (wat direct ook de link is), en de eerste alinea's.

 

Frankreichs Europaminister Repentin ist dafür, dass der ESM griechische Banken mit direkten Kapitalspritzen unterstützt. Den Höhepunkt der Krise sieht er überwunden. „Die gemeinsame Währung ist nicht mehr bedroht.“

I have been thinking about Peugeot (henceforth P). AEP at the Telegraph has a column today about how much the French business community hates President Hollande:

The European Commission will propose itself as the single authority for winding down banks in the euro zone, a step that will set the European Union's executive on a collision course with the bloc's most powerful member, Germany.

German exports slumped in May, falling 2.4% on the month, the biggest decline since December 2011. Meanwhile, imports rose 1.7% on the same month. The result is that Germany’s monthly trade surplus contracted by more than a quarter over the previous month.

The euro zone is full of stricken countries these days, yet near-hysteria usually greets the idea that these countries' best way forward would be to leave the currency bloc.

The European Central Bank is set to begin inspecting the balance sheets of large EU financial institutions, even as disagreement between Brussels and Berlin threatens the bloc's banking union plans.

Among economists a wide consensus exists that a transfer of supervisory powers to the ECB needs to be accompanied by increased risk sharing at the euro area level, through the establishment of a European resolution mechanism and a joint deposit guarantee scheme. This line of argument is based on the accountability principle, according to which “power and resources should go hand in hand” (Dell’Ariccia et al, 2013). Proponents of this big leap towards banking union hope that it can break the doom-loop between sovereigns and banks.

Let me be blunt: Our capitalist system is approaching failure.

Europe's debt-crisis strategy is near collapse. The long awaited recovery has failed to take wing. Debt ratios across southern Europe are rising at an accelerating pace. Political consent for extreme austerity is breaking down in almost every EMU crisis state. And now the US Federal Reserve has inflicted a full-blown credit shock for good measure.

10. 5 redenen waarom de EU grandioos faalde.

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