EURO CRISIS INTO FOGGY BANKS

6 Nov

G20 SUMMIT RESUME

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The 2 day summit was dominated by the current GREECE turmoil.Mr Papandreou was persuaded by the FRANKFURTER GRUPPE

( Mr Draghi,Mr Juncker,Mrs Merkel,Mr Sarkozy named by me as “WEHRMACHT EURO” with their ultimate weapon

“WAFFEN MERKEL”)  to simply forget his ideas about a referendum to jeopardize the entire  EURO project.

Merkel&Sarkozy cornered Mr Papandreou demonstrating the EURO as primary PRIORITY and GREECE debt as secondary PRIORITY.

If any deviation from oct. 26th plan all scheduled transfers to GREECE put on hold until situation cleared. They simply stated

we let Greece default  and save the EURO. Mr Papandreou shattered in remorse hearing GREECE DEATH SENTENCE after another

“GODFATHER” phrase from WAFFEN MERKEL:” IF referendum no money transfers an offer you cannot refuse!”

The persuading powers of Councellerin  MERKEL is on the rise well above remaining political European leaders presently.

Her sharp intellect combined witha verbal skill make her decisive in the future EUROZONE shaping.

ECB AND IMF FORMING TEAM

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New ECB President Mr Draghi went off to a great start by starting a sequence of lowering it´s primary interest rate to

put brakes on recession replay risk.IMF willing participating in the EFSF leveraging mechanism and a helping hand to

second target in line ITALY in monitoring progress of implementation austerity measures. A decisive detterent  for speculation

if ECB buys Bonds massively from targeted countries.Then speculators stand no chance against an Institution with

unlimited economic power.

KEY POINT FOR EURO FUTURE

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The Euro must be seen and  function as a domestic Currency and not a foregn currency within EUROZONE.

Without a designed Treasury institution makes EUROZONE fragile as allready proven beyond doubt.Then the EFSF Fund is a first resort and ECB second resort.Treaty of EUROZONE must be modified to entitle ECB new tasks.With additional powers allow actions like US FED.

Clearification of EURO future architecture must be dealt with urgency! What IF EuroZone could return to Maastricht treaty levels of debt,deficits etc. then the EURO classifies as a reserve currency beside USD.For accomplishment EURO BONDS seen on the Horizon.

Lack of a Treasury makes it much more dificult to build a solid plan  to exit crisis.ECB is key component in this formation as issuer of EURO BONDS.

EURO CURRENCY  is demonstrating  a falling curve  long term bias since 2008.Difficult forecast year end 1.42-1.32 a 1000pip range

is my prediction.With continued lower interest rates trend is lower.

CSI BANK MISSION A CLEAR FOG MISSION.

To be continueed…..

 

 

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