AUSFAHRT FOR EUROZONE CRISIS=A NEW DEAL

25 Sep

PART A: CRISIS RESOLVE : MODEST PROPOSAL BY YANIS VAROUFAKIS

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ACTION A: Recapitilize all insolvent Banks change their Board of Directors so we can have full Transparency and know the Black Holes

to stop them.Banks now owned by STATE later resold to Market price.

ACTION B: ISSUE ECB Bonds with compliant 60% of GDP from each Euro Zone country.Funding comes from Chinese,Norwegians etc.

ACTION C: EIB “European Investment Bank” A NEW DEAL  financing a Pan European Investment  program to improve Economic

growth prospects and create new jobs.

RESULT: END of EURO CRISIS.

PART B: What will Euro Zone leaders decide? A Possible Scenario

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1:German Finance Minister Schauble is in  process of redesigning the BIG 2nd  Greece bailout package EFSF.

After comments from US Timothy Geithner and French  Finance Minister Baroin an optimal EFSF would be “EFSF TURBO” fund linked

to the ECB with guaranties in order to raise additional funds boosting FIRING POWER of rescue fund to cover possible further default

candidates like ITALY;SPAIN etc

2 :EURO BONDS based on only the 6 AAA rated core countries to obtain low interest rates financing ailing countries with present

high interest rates.

EU President Mr Barosso will later in october present options for possible EURO BONDS.

3. A Greece Haircut greater than the planned 20% in ESFS package.

Haircuts cheaper solution than enlarging ESFS fund!

Haircut means rescuing failing BANKS to later resell to Market price.Possible firing of Board of Directors for full

transparency in order to find all BLACK HOLES to fill.

PART C: A POSSIBLE OUTCOME SCENARIO

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1: EuroZone leaders with Merkel&Sarkozy agrees on   Modified ESFS package with a larger HAIRCUT. This to secure control of

undercapatilized Banks going bankrupt.More of Political insight in the toxic BANK securities  followed by deleveraging  of such Holdings.

AFTER HAIRCUT a HOUSE CLEANING cures remaining SUB PRIME syndrom.

RESULT: BANK SYSTEM now in shape to EMPOWER  A REAL ECONOMY GROWTH AGAIN.

2: EURO BONDS will be introduced in some form later after all EuroZone countries approval as additional  stabilization of EURO CURRENCY

and means of FUTURE ECONOMIC GROWTH POST CRISIS. A UNITED STATES OF EUROPE to compete in GLOBAL ECONOMY.

EURO currency status as reserve currency will be granted.

Optimist with positive VISION.

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