Wednesday, March 20, 2013

A simpler way to solve the crisis.

This will be really short. Let's just assume Europe were a Union. This Union has a entity controlling and in the end liquidating the banks. We shall call this entity EDIC. Here is what would have happened. One Friday evening  about 6 months ago EDIC people would have taken over the banks. Tuesday the bank would have been resold,ropened, and the people with under 100.000 € would have kept all their money. The EDIC employee coming home to the partner would have answered to the question "how was it?" with "not that bad I have taken care of bigger issues."

There wouldn't have been any talks. No stupid name calling afterwards. It would have happened months ago. So why is there no such institution: FinMin Schäuble was against it, Economy minister Rösler was against it, Bundesbank president Weidman was against it, Merkel was against it, the biggest opposition party SPD was against it.

Now. How did your alternative work mister Schäuble? Oh I see it just blew up in your face. Good job.

No comments:

Post a Comment