A FORECAST THAT CAME TRUE: THE PROOF FOR THE LACK OF VISION OF THE GERMAN CHANCELLOR ANGELA MERKEL IN MANAGING THE ECONOMIC CRISIS AT THE LEVEL OF THE EUROPEAN UNION

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Sambata, 08/10/2011

The World Bank President Robert Zoellick deplores the lack of vision of the chancellor Angela Merkel in the crisis of the Euro Area, proving the judgments I presented during the last 2 years, included also in the 3 articles presented on the website under the Weekly Economic Analysis section. This is the main cause of deepening of the economic and financial crisis in the European Union, particularly in the Euro Area, namely the baneful involvement of politics, which significantly contributed to the throw of this part of the world in the most catastrophic economic crisis it has ever known. I am using the word catastrophic especially with reference to what is going to happen from now on.

(The world now deals with the most serious crisis in its history - sir Mervyn King, governor of the Bank of England)

by R.M. HotNews.ro

Friday, 7 October 2011, 9:12 Economie | Finanţe & Bănci

The world now deals with the most serious crisis in its history, at least since the Great Depression in the 30’s if not since always, declared the governor of the Bank of England, sir Mervyn King, on Thursday evening at the Sky News television, quoted by The Daily Telegraph. He argued the decision of the BoE to inject 75 billion Pounds sterling, i.e. the equivalent of 87 billion Dollars, into the British economy, reported AFP.

ARTICLES www.blanculescu.ro:

  1. THE MEASUREMENT UNIT OF POLITICKING AND OF THE EUROPEAN BUDGETARY DEMAGOGY: THE MERKEL AND THE SARKOZY
  2. AN ECONOMIC WORLD ADRIFT
  3. THE EUROPEAN UNION AT THE CROSSROADS OF INTERESTS. ROMANIA AT THE SUNSET OF HOPE

PROOF OF THE FORECAST:

Sovereign debts crisis: the President of the World Bank deplores the lack of vision of the chancellor Angela Merkel

by R.M. HotNews.ro

Saturday, 8 October 2011, 11:49 Actualitate | Internaţional

The World Bank President Robert Zoellick indirectly criticized Angela Merkel, by deploring Germany’s lack of vision in the crisis of the Euro Area, in an interview for the WirtschaftsWoche magazine that will be published on Monday, reports AFP.

"It has been more than 20 years since the Eastern Bloc fell and the chancellor Helmut Kohl developed a vision on how things could evolve. Something similar is missing today and, the more serious it is the more money it will cost and the possibilities to solve it are reduced", declared Zoellick for the weekly economic news.

Recently, Germany and France seem to not agree on the method to recapitalize the European banks. The French President Nicolas Sarkozy is going to meet Angela Merkel this Sunday in Berlin in an attempt to reach a solution.

"Until now, the Europeans have tried to solve their problems with liquidities. I do not want to criticize that, but it does not solve the problem. It only buys us some time", added Zoellick, who met Angela Merkel on Thursday in Berlin.

The approaching presidential elections in France and Italy are crossing "an area of turbulence" and the Great Britain is not part of the Euro Area. "Where should the solution come from then?", wondered Zoellick, referring to Germany, who "already plays a big role in Europe due to its size".

About the reluctance of the German population to pay for other countries, Zoellick says that, in his opinion, the German taxpayers "regret the most that the political leaders fail to say in what direction should Europe go".

"The fundamental issue is to know whether the citizens and the governments of Europe want to build a political and financial union, in order to complete the monetary union", concluded the President of the World Bank.

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