Rating agencies: we missed them
Punctual as a Swiss watch the rating agencies are coming to move the market speculation, as if it were needed.
Standard & Poor's announced that it has put on negative watch 15 European countries, including 6 with a triple A, as Germany and France.
But if we are imposing austerity measures everywhere, changing governments and treaties, to counter the increase in interest rates of countries not "virtuous" avoiding the worsening of the debt, which has meant a downgrade that could cause a financial earthquake . At this moment it is just to bring some calm, so what's the point of this intervention by the rating companies, if not to encourage further speculation? (Rhetorical question?)
We have to consider that a downgrade of the eurozone countries would result in the automatic declassification of the EFSF (where the funds to rescue the countries under observation are guaranteed , in proportion,by all the european memberships ), popping up in the bud the weapon on which many rely for out of the mire.
Finally, news appeared on "The Guardian" online newspaper, among the largest and most influential of England, with a liberal tendency. It would deserve a full-depth analysis on the future of th "united" Europe:
Great scoop from our Brussels Europe editor Ian Traynor, who has got hold of a paper from the office of European president Herman von Rumpoy detailing ways sinning Eurozone Countries Could Be punished for not meeting future fiscal rules. The full story is here but here is the top line. Ian writes:
In Addition to stripping Countries of Their voting rights, the potential for the paper Suggests Reforms Harmonising pension, social security systems, labor market policies, and financial regulation: "Consideration Could Be Given to Legislation to define minimum common-use features," it says.
http://www.guardian.co.uk/business/2011/dec/06/eurozone-shakeup-voting-rights-confidential-paper
Standard & Poor's announced that it has put on negative watch 15 European countries, including 6 with a triple A, as Germany and France.
But if we are imposing austerity measures everywhere, changing governments and treaties, to counter the increase in interest rates of countries not "virtuous" avoiding the worsening of the debt, which has meant a downgrade that could cause a financial earthquake . At this moment it is just to bring some calm, so what's the point of this intervention by the rating companies, if not to encourage further speculation? (Rhetorical question?)
We have to consider that a downgrade of the eurozone countries would result in the automatic declassification of the EFSF (where the funds to rescue the countries under observation are guaranteed , in proportion,by all the european memberships ), popping up in the bud the weapon on which many rely for out of the mire.
Finally, news appeared on "The Guardian" online newspaper, among the largest and most influential of England, with a liberal tendency. It would deserve a full-depth analysis on the future of th "united" Europe:
Great scoop from our Brussels Europe editor Ian Traynor, who has got hold of a paper from the office of European president Herman von Rumpoy detailing ways sinning Eurozone Countries Could Be punished for not meeting future fiscal rules. The full story is here but here is the top line. Ian writes:
The European commission imposed austerity Could Be empowered to Eurozone Countries on Measures Being bailed out, usurping the functions of government in developing countries Such as Greece, Ireland, or Portugal. Also bailed-out Countries Could Be Stripped of Their voting rights in the EU, under radical proposals being wellness Discussed at the Highest Level in Brussels before this week's EU Summit Crucial on the sovereign debt crisis.That adds Ian while the paper will be discussed ahead of this weekend's crunch EU summit to help reach a consensus, the punitive nature of some of the suggestions risks setting off an almighty row.
In Addition to stripping Countries of Their voting rights, the potential for the paper Suggests Reforms Harmonising pension, social security systems, labor market policies, and financial regulation: "Consideration Could Be Given to Legislation to define minimum common-use features," it says.
http://www.guardian.co.uk/business/2011/dec/06/eurozone-shakeup-voting-rights-confidential-paper
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