SUGGESTION TO THE EUROPEAN CENTRAL BANK PRESIDENT JEAN-CLAUDE TRICHET

SUGGESTION TO THE EUROPEAN CENTRAL BANK PRESIDENT JEAN-CLAUDE TRICHET

To: The Right Honorable European Central Bank President

From: Athinarayanan Sanjeevraja

RE: Buying Italian and Spanish Bonds

Suggestions:

Good morning President. The Financial Times, London reported that ECB decision to start buying Italian and Spanish bonds. I knew that there may be significant threat to stability if the central bank did not act on buying Italian and Spanish bonds. ECB has played it well in both Italy and Greece collateral situation. The ECB can print as many Euro’s as it wants and buy European debt but the result will be high inflation. I knew that ECB one tool, one goal is price stability and thus bank credibility. I think that ECB on the right side. The rule of central banking is stable inflation. ECB is sticking to this even when facing harsh criticisms for people. I won’t recommend raising the interest rates because the idea of interest rates increasing due to increased risk is a long term projection.

ECB can solve this whole problem by devaluing its currency like China. Weak euro policies will bring renewed export power to the European economies as well as increasing consumer wealth in creditor economies. This is precisely the kind of rebalancing the European economy. Living with weaker currencies might not seem so objectionable especially relative to the other alternatives, if it leads to strengthened economic performance and balanced sheets on sovereign debt.

Thank you very much for your kind attention President. I hope that you’ll take decisive decision to save Euro.

Sincerely,

Athinarayanan Sanjeevraja.

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