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SUGGESTION TO THE EUROPEAN CENTRAL BANK PRESIDENT MARIO DRAGHI


SUGGESTION TO THE EUROPEAN CENTRAL BANK PRESIDENT MARIO DRAGHI

To       The Right Honorable European Central Bank President Mario Draghi    
        
From: Athinarayanan Sanjeevraja

Date:  November 21, 2011

RE:       Euro Debt Crisis

Suggestion: Let’s start showing the world that we are really a Union.

Good Morning President. I stalwartly disagree with ECB executive board members are continuing to say that letting banks fail to save tax payers money and Eurobonds are unsafe assets. Both are absolutely erroneous Mr. President. Let me explain, if banks fail this would unsettle the financial market worldwide. In fact it ends up costing tax payer much more. The pragmatic solution is probably for the creditor to assess the ability and willingness of the debtor to pay. If creditors find there is solvent or liquidity problems, it will be in the creditors own interest to extend the maturity of the loan of the debtors. This is one of the common pragmatic solutions which are following around the world. As far as the Eurobond issue is concern, it is an important first step towards political union to showing the world that we are really a union. It cannot solve all problems of the euro zone. Indeed, it would lower average funding costs and strengthen the competitive position of the Euro. I draw the conclusion that issuing Eurobond is an effective solution. Read Eurobonds to understand more http://www.athinarayananadvisoryauthority.blogspot.com . The ECB buying any state bonds won’t solve anything. You merely postpone the problems. Europe needs a comprehensive solution to solve the debt crisis. That is Eurobond.  

Thank you very much for letting me states my opinion.

I am Athinarayanan Sanjeevraja with great respect of you.  

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