Stiglitz, Trump and the exit of the euro

Bringing out an important country of the single currency (like Italy) in order to blow up all the European monetary union has always been the goal of the United States; both allow the dollar to confront itself (and speculate on arbitrage) with many weak currencies instead of a single currency (euro) and attract capital to the US financial center and strengthen the stock market. Wall Street, destabilizing the European venture capital and debt market in favor of the US economy. Nothing new under the sun, Donald docet. What is amazing is that there was also the prestigious Nobel Prize winner Joseph Stiglitz (always a polite balance to the single currency) in the interview of the Sun 24 hours of July 7 because we will see the true mentor of some talkative members of the League and the

In the interview to the Sun, after hinting that in international contracts written by law firms begins the clause Italexit, Stiglitz enumerates all the structural reforms that the EU does not adopt: a single guarantee on deposits, risk sharing, etc., etc. But this list seems to be made for the sole purpose of adding that "structural reforms take a long time and do not solve problems immediately. On the contrary, they can also weigh on short-term economic growth. "The references to Germany's responsibility (" should include "Stiglitz) are entirely in agreement with The Donald, also hoping that the company will not be able to do so. Germany will increase wages to increase domestic consumption, and reduce the competitiveness of its products in the US market.In other words, what would be beneficial for the EU would also be beneficial for the United States.

Without Stiglitz asking the most obvious question, or what would happen to the EU because of the release of the single currency of a large country, Stiglitz himself proposes to Italy, since they do not even provide for a procedure according to which "the exchange of currencies must be done very quickly (…) with a unilateral decision." It seems to return to the debate who opposed the appointment of Pao lo Savona to the Ministry of Economy and Finance and the consideration that all this could be likened to a coup d'etat not by military means but by financial means. Not bad though, Stiglitz also stresses, but without posing the problem of return conditions, "Italy could avoid markets for a while" by having a high savings rate of families. "Note that even in this case are proposals we have already heard from the under-secret League Armando Siri.But if it is not Italy that destroys the EMU, in favor of US markets, then the "Middle lane" could be crossed, that is "it could be Germany out of the euro." Hurray The Donald.

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