SUGGESTION TO THE EUROPEAN COMMISSION PRESIDENT To:               The Right Honorable European Commission President From:             Athinarayanan Sanjeevraja RE:                Greece Crisis Suggestions. Good Morning Mr. President. I am writing to express that Greece must continue on the path of austerity. When I wrote to the Greece Finance Minister two weeks back, I recommended that greater reform efforts, above all on the privatization front, voluntary buyback of the Greek bonds, spiced with a partial guarantee from the EFSF, insurance of new bonds covered by premiums to the ESFS. I have been saying till the beginning of the crisis EU should provide security to Greece so that confidence returns to the economy. But EU always failed to do it. The proposed austerity targets are realistic. For instance, look at the achievement of Estonia , Latvia and Lithuania which experienced GDP contraction of 20% and had   similar levels of unemployment. With stri

MY SUGGESTION TO THE BANK OF ENGLAND GOVERNOR To:               The Honorable Bank of England Governor From:             Athinarayanan Sanjeevraja RE:                Fractional Reserve Banking Systems Suggested Remedies: Good Morning Mr. Governor. Financial Times, London reported that UK people are advocate eliminating the fractional reserve systems. London school of economics professor also recommended eliminating fractional reserve banking system. It is absolutely erroneous.   Mr. Governor, if you are referring to full reserve banking, the banks will not be allowed to lend at all. That could throttle the economy unless the government steps in and supplies the money by fiat. I understand that the problem with fractional reserve was that bankers managed to dilute the reserves because they claimed that the reserves were monies that were sitting idle and they were losing profits. But UK banks came through recession nicely with good fractional reserv

MY CONGRATULATION MESSAGE TO IMF NEW DIRECTOR LAGARDE Esteemed IMF New Managing Director, Good Morning Madam. This is Athinarayanan Sanjeevraja, writing to global leaders on the subject of economic policy, industrial policy and financial regulation. It gives me a great honor and pleasure to extent my most sincere congratulations on your high and responsible office of IMF as a Managing Director. I would like to take the opportunity to share my views with you. The goal of the IMF is to provide the undeveloped countries financial support to construct their economic abilities and then improve the life conditions of their people. But IMF always fails to reach this goal. IMF always generous to pay the loan but it could not set up a good auditing/monitoring process or any required steps to assure that the loan of the loan will be utilized in a proper manner. The governments of the undeveloped countries can borrow more money year by year. Nonetheless the life of their people is nev