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SOVEREIGN STATES DEBT CRISIS 2012 - EUROPEAN COMMISSION PRESIDENT

Sovereign States Debt Crisis

To       The Right Honorable European Commission President Mr.José Manuel Barroso 
          From:  Athinarayanan Sanjeevraja
          Date:  January16, 2012
          RE:     Soverign States Debt Crisis   
          Suggestion: Eurobond
Good Morning President. I appreciate that Euro is without a doubt success story. Most of the commentator’s myths are on the premature collapse of the Euro. They may not understand how Europe works. I better understand how Europe works. I am writing to you since 2009 onwards. Price stability is a major contribution to a sustainable growth and job creation in the Euro-zone as a whole. The average annual inflation rate since the introduction of the Euro was just 1.97 percent. Monetary policy in the Euro area has accomplished this mission. ECB did a great job. European leaders never were in the position to solve the Sovereign states debt crisis. The situation is still fragile.  The current crisis mechanisms such as EU counties and IMF granted Greece financial assistance of €110 billion, EFSF provides assistance guarantees the member states of maximum €440 billion Euro and EFSM grants in the amount of maximum €60 billion are defensive and only treat symptoms. Creating new money for purpose of QE has not worked. Austerity is self defeating in a crisis. The only way to stimulate the economy as I have said on a number of occasions, Euro bonds would prevent contagion for weak countries. It is my belief that it should give better chance for growth.  
I am confident that EU can overcome this Sovereign states debt crisis as earliest as possible.
I am Athinarayanan Sanjeevraja with great respect of you.  
http://www.athinarayananadvisoryauthority.blogspot.com

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