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The wrong decision to help the Spanish banks

The decision of a hundred billion of aid to Spanish banks must impose a serious reflection. Meanwhile, the ease with which the aid was granted it should be said that the Spanish banks are the remarkable German investment, then all the rhetoric in favor of European unity government in Berlin is completely out of place, because Germany is the first to be interested in the Iberian banks will not fail. But, except this necessary introduction, which may offer additional opportunities to develop questions about the sincerity of Europeanism of many statesmen and statist discourses that seem engaged in construction, the central question can only be funded if it is just the banks, under the criterion by which channels are considered privileged to revive economies. We are talking about banks indebted to improper operation and moreover often not in good faith, to which loans are granted to highly concessional rates, using the money received, as well as to repay their debts, even making money on the interest rates they impose, to put such aid into the circulation. Establishment is thus a circuit that rewards twice a pervert who have done so bad, leading to disruption banks engaged in activities beyond those institutionally provided. The basic reasoning is that the Eurocrats result in failure, banks can trigger the current situation even worse trouble, but it is right to fall on the citizens, the cost of mishandling? Would not it be more appropriate to finance the debt of states, which, in turn, should become personally engaged in the movement of aid, bypassing those that have proven, at least, incapable of managing capital? The logical answer would be if we were not, now is a fact, in a downward spiral of the relationship between banks, governments and central institutions. The negative experiences of recent years, where banks have practically done their work, pushing deeper and deeper into the accelerator of easy money, who turned out for what was to be: bubbles, unable to keep its promises, it should do radically change the structure of credit for legal action, in the sense that parliaments should do more to fund the construction of a law that protects the investor and more together will provide a greater circulation of money, providing heavy penalties for those who do not achieve its mandate. Conversely we find ourselves in a situation where not only are there measures, even extreme, for those who make mistakes, but, rather, they take initiatives almost rewarding, allowing banks to survive in a situation that would bankrupt any other company. Without new legislation, which affects at least the entire euro area, the matter in the sense that innovate punishment for those who choose investments easy, do not think you can unlock a situation that could persist over time. The taxes of the citizens can not be used to save banks, but also companies, who have squandered huge asset for chasing obvious speculation. What should be changed is the mindset of bank credit as the only channel, if the banking system of a country is not reliable, it lets go of his destiny and was replacing it, as long as the system recovers its reliability. Besides this measure was merely the application of a theory actually liberal, but liberal is not speculators, in the name of the market, and then accept state aid. A measure such as that these days you committed a hundred billion to rescue a banking system is deficient only clear sign of a political class that does not want or can not find them or find alternatives, in both cases it is a sign of yet decline of the town.



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