| - | Ontwo famous characters of two words ,do not know who you believe ?One is the United States officer Hamilton said : my word is my bonds ( My word is my bond ) ;one is the economist Inpet says : a politician as a trainer ,they always excessively pay attention not to fall from a horse ,and forget to think oneself will go where .<br> I believe the words of Inpet .Another of Inpet words to enhance my reason : politicians is to use language instead of the shovel to work . This is perhaps a little extreme ,but on the whole ,it is the credible politicians economists ,abercrombie.<br>Today I want to talk with the famous characters ,and how much the .On the 2008 global financial crisis ,I am afraid not many people can think of the eurozone debt crisis ,in addition to the United States of America into financial institutions besides another key ,and this key seems to have become the top topic analysts and media .<br>In Hamilton there, who bonds will pay ,no uncertainty ,his voice is so extremely elegant and valuable ,moncler.However ,the bear Pete life is cherished home of Europe ,it is emerging bond and sovereign debt repayment problems ,it may lead to the change of the euro .<br>In any case ,Hamilton is the first politician ,politician word originally is to listen to it, and he is the wrong metaphor .Debt is easy to still borrow .Borrowing more optional ,pay more difficult ,ultimately it is difficult to borrow .<br>The Greek has been immersed in this difficult to continue the cycle .By the Greek sovereign debt crisis of the euro crisis ,almost two years .To this,franklin marshall, a year ago, I published comments in this column .<br>Up to now ,I still insist on my point :either the eurozone dissolution ,Member States to resume their currency ,the euro exit historical arena ;or ,piumini moncler,the euro zone became a sovereign state ,keep the euro .<br>These two ways are very difficult, after a more difficult ,air jordan pas cher.The reality is more and more to prove my point approach .The fundamental reason ,also I have discussed in the modern era ,paper money ,any kind of long-term currency are sovereign currency, any so-called super-sovereign currency or just a symbol, or just the politicians at the new in order to be different ,air jordan,not be lasting .<br>The Greek sovereign debt crisis ,but the euro crisis caused ,hollister,rather than a cause .Can say even ,the debt crisis in Greece Euro crisis results ,rather than the reverse .The work rate ,industrial structure and competitiveness ,the level of social welfare ,financial strength and other aspects differ greatly ,and the lack of a unified labor market to ensure the free movement of labour ,political decision independently, history and culture are numerous national ,a law to use the same money behind ,neither gold precious metals support ,nor the Bretton Woods system that exchange hook system ,the monetary mechanism must be from economy most weak link began to collapse .<br>Unlike the Bretton Woods system ,Euro breakup is not from the core countries ( the United States is the former ,the latter is German ) initiative announced its withdrawal from the start ,but the most weak ( the so-called peripheral ) national exit sign .<br>So ,even if is not Greek ,also will have a the shortest board state as trigger factors ,but Greece is just the short board .Whether intentionally or unintentionally, the vast majority of people especially those politicians ,from the beginning of a currency crisis governance wrong direction :it seems that as long as the solution to the Greek debt crisis ,the euro crisis will disappear in smoke can all is well.<br> .Not to say, to the Greek crisis salvation for nearly two years ,not only do not see the effect ,but more and more bad .Both the European Union and IMF massive aid money ,or Greece austerity plan ,did not bring the international market recognition :Greek and German 10 year bond spreads have 460 points from 2010 climbed to 1460 basis points ,each economic norms and social situation continues to worsen .<br>The past two years ,no matter take which measures ,not only to bring the Greek turn ,also did not have a global concern for the euro breakup .Instead, with all possible assistance policies are proposed and implemented, the euro has been increasing doubt .<br>In fact ,the nature of the system of modern paper money by introducing the regional common currency ,as some commentators noticed ,whether the eurozone periphery core power people or weak people ,have a kind of be deceived and betrayed ,abercrombie.<br>Initially ,the German people are politicians repeatedly told ,use the euro is not only stable ,but not subsidies or aid the poorer countries ;southern European politicians tell people ,to join the euro ,the standard of living to the Nordic countries by qi .<br>But the reality ?After the honeymoon period ,becoming instead .Therefore ,not only in Greece anger spread and deepen ,the same presence in germany .Of course ,in view of a euro crisis governance more open vision also begins to appear from 2010 ,not just concerned about greece .<br>Such as the European Central Bank to purchase all bonds to function ,to issue a unified European bond ,the establishment of eurozone finance department and so on, is the embodiment of the view .<br>However ,these recommendations or inoperative ,or simply can not be implemented .So ,if not in the expected time within the euro area into a sovereign state ,the current and future any suggestions and measures are helpless ,euro crisis radical .<br>But the euro area into a state ,based on the European history and culture ,I don any possible .In view of this ,the euro crisis and the crisis in Greece already mutual correlation ,mutual independence, at least do exactly the same thing .<br>In a sense ,the crisis in Greece can be ,if only because of the Euro euro crisis mechanism within the scope of inextricability .The Greek sovereign debt defaults and recombination ,the growing possibility .<br>The Greek crisis eventually get rid of ,not only the Greek public and foreign creditors to pay the price ,and it is likely to leave the euro zone as a last resort .This will bring the euro mechanism of withdrawal .<br>This is not a small probability event ,air jordan pas cher.As I previously thought, no matter how short-term euro exchange rate changes ,I do not value the euro and euro denominated financial assets .In this case ,as the world foreign exchange reserves, China ought to buy eurozone countries especially the countries with weak bonds to support cautious attitude .<br>Should be avoided ,anxious to with some euro-area countries deepen diplomatic relations ,or to open markets ,expand the scale of bilateral trade ,and easily promise to buy the country .Otherwise ,the losers are Chinese national and public interests ,air jordan.<br>You know, the problem is not the euro ,,China promised to buy euro bond can ease ,no matter how strong foreign exchange reserves of china .At this point ,any so-called political considerations will be because of the last economic losses which proved to be unwise .<br>Thus ,I went on Inpet mean to say, not only pay attention to fall from a horse politician ,probably because was lost ,and even the horse into a horse pit ,while you riding on the horse, but it is a desperate wait for the death of the horse ,that is ,politicians are likely to in conjunction with the load of their regime together ,abercrombie paris.<br>So ,who to pay Hamilton politicians issued bonds ?Broken promises ,how can I believe Hamilton said that sentence ? disclaimer this article represents the views of the author, has nothing to do with hexun.<br>com .And the news website the statement ,the neutral ,it contains the content the accuracy ,reliability or integrity of any express or implied warranty .The reader is only for reference ,and please to bear all the responsibility .<br>Related articles:
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