Farewell to the euro?

According to Singapore lianhe zaobao speech titled "farewell to euro?" Article:the end of 2010, the German central bank mainly comes from the European central bank loans for a total of 340 billion euros. This figure includes the past three years to solve the problem of the Irish capital flight to provide a total of 130 billion euros ($) loan. The European central bank aid plan, let the eurozone peripheral countries to continue to enjoy the people beyond the ability to pay of the lucrative life, holds the assets can be on the wealth holders transferred to other places. The policy of the implementation of the space has continued to run out."The state is not the euro, but individual European public finance." Recently, the statement could hear people chew the ears, but that is not the case. The euro itself is facing a threat because of the countries in crisis in recent years has been forced the European central bank to operate at full seal euros.
"the pig country" (PIGS-Portugal, Ireland, Greece and Spain) commercial bank around 90% debt is the refinancing their countries of central bank nod, the purpose of the translated from other eurozone countries to buy goods and assets net inflows. Within the euro area to two-thirds of the total loans financing from "the pig" country, and their accounts for only 18% of the eurozone GDP. In fact, the four countries over the past three years the current-account deficit of 88%, is through the euro system internal credit expansion of financing. The eurozone credit expansion policy unsustainable the end of 2010, the German central bank mainly comes from the European central bank loans for a total of 340 billion euros. This figure includes the past three years to solve the problem of the Irish capital flight to provide a total of 130 billion euros ($) loan. The European central bank aid plan, let the eurozone peripheral countries to continue to enjoy the people beyond the ability to pay of the lucrative life, holds the assets can be on the wealth holders transferred to other places.the policy for the implementation of the space is almost run out. Because from "the pig countries" to the euro zone of the European central bank HuoBiLiu core countries, are in these core countries out through the refinancing operation created the currency. The situation has lasted for three years, if it lasts 2 years, the German refinancing loans stock will be consumed. In fact, deutsche bank has stopped participate in refinancing activity. If de-funded Banks to exit the refinancing business, the European central bank will lose its interest rate policy has been to Germany by direct control of the economy.wholesale sunglasses Main refinancing rate will therefore become peripheral countries from central state of the central bank's monetary for Europe (to be used in European center to purchase action) interest rates, and the money will eventually become the euro area, all the source of money in circulation.Last year, because of the European central bank has no tools can prevent European bank trapped brought about a financial crisis, and Europe reached the follow-up financing agreements. Begin from 2013, European Stability Mechanism (European Stability Mechanism) accept that responsibility. This may relieve some of the pressure, but just from the problems of the European central bank aid fund transfer on the eurozone countries. This mechanism will heavy drag Europe, because assistance loans last time to grow more, "the pig" country current-account deficit problem is stubborn, they also can accumulate more external debt. Finally, the debt would not last."the pig countries" huge current-account deficit-and especially the capital and Ireland escape-without the European central bank financing is not possible. No "the pig countries" central bank created domestic circulation beyond the requirements of the surplus money, trade deficit not last, their commercial Banks cannot support asset prices (usually is their national debt).