Fórum Defesa Brasil

Last Thursday, the leaders of the European Union convened a video conference to deliberate the escalating Covid-19 crisis. On the agenda was a simple proposal co-signed by nine different eurozone governments: the “coronabond”, a new type of public debt instrument backed by all the members of the currency union as they come together to combat the virus.

After a long decade of crisis fighting in the eurozone – pitting north against south, creditor against borrower – the proposal marked a rare display of unity, and the meeting was a perfect opportunity to ratify it. Issued collectively, the “coronabond” would drive down the borrowing costs of some of Europe’s most heavily affected countries, staving off another sovereign debt crisis and freeing up much-needed resources to invest in public health and economic recovery. “We are all facing a symmetric external shock,” the proposal read, “and we are collectively accountable for an effective and united European response.”

As long as the pandemic rages in Europe, even the supposedly frugal burghers of Amsterdam will suffer the consequences
Alas, the request for solidarity was swiftly rejected. At the video conference, the eurobond motion came up against the eurozone’s “frugal four” – Germany, the Netherlands, Austria and Finland – who argued that the issuance of a common debt instrument would punish the countries that had saved for such a rainy day, and encourage further fiscal mismanagement by those who did not. Solidarity, they claimed, just created moral hazard.

In the course of this standoff, it was the Netherlands that positioned itself as the stony face of the frugal four. For a small and trade-dependent country that has long portrayed itself as Europe’s liberal beacon – open, progressive and internationally oriented – it was a remarkably short-sighted position to take. Without a collective mobilisation of fiscal resources, countries such as Italy and Spain will be powerless to prevent further contagion, of both the medical and economic kind. And as long as the pandemic continues to rage elsewhere in Europe, even the supposedly frugal burghers of Amsterdam will suffer the consequences.

Yet the Dutch government has held firm. Speaking after the meeting, the prime minister, Mark Rutte, declared that he could not foresee “any circumstances in which the Netherlands will accept eurobonds”. Adding insult to injury, the finance minister, Wopke Hoekstra, called on Brussels to investigate why some eurozone member states had failed to get their houses in order ahead of the pandemic – comments that the Portuguese prime minister, António Costa, later described as “repugnant” and “senseless”.

The spat has reopened painful old wounds. In the early stages of the eurozone crisis, the Dutch were among the most vocal opponents of the initial Greek “bailout”, and demanded draconian austerity measures in return for the emergency loans. The former Dutch finance minister Jeroen Dijsselbloem gained widespread notoriety for his penny-pinching in the Greek debt negotiations, at one point appearing to suggest that his southern European neighbours had wasted their money on “booze and women”.

But Europe’s governments have run out of patience with such fiscal moralism. Over the weekend, reports suggested that Latvia, Lithuania, Estonia, Cyprus and Slovakia may add their names to the original eurobond proposal. Among these 14 governments, there is broad agreement that this is not the time for petty lectures on fiscal book-keeping, it is a time to think big and confront the continent’s greatest collective challenge since the second world war as a united front. As Costa drily observed: “No one has any more time to hear Dutch finance ministers as we heard in 2008, 2009, 2010 and so forth.”

Beside its untimely nature, the Dutch government’s position is also exceedingly hypocritical. The Netherlands has long been known as one of the world’s most infamous tax havens, siphoning off hundreds of billions of euros in corporate profits and international financial flows and keeping other governments from taxing them properly. To depict the Netherlands as a pillar of fiscal rectitude is to deny the myriad ways in which the very architecture of the Dutch tax system actively serves to undermine the fiscal capacity of its European and international partners.

Ultimately, however, the best argument against the Dutch position is that it is self-defeating. By rejecting the call for “coronabonds”, the Netherlands and its partners in the frugal four have undermined the ability of the wider eurozone to fight the pandemic as a whole – threatening the health and wellbeing of each of its members in turn.

Solidarity is not charity. It is the recognition that the struggle of one is the struggle of all. In a pandemic like Covid-19, that logic is global. But it becomes all the more urgent in the context of a currency union as thoroughly integrated as the eurozone. If the frugal four continue to obstruct a common fiscal response to this crisis, the remaining eurozone countries will be right to ask if they are not better off going their own way.

As Spain’s foreign minister, Arancha González, kindly reminded Hoekstra following his much-maligned intervention last week: “We are in this EU boat together. We hit an unexpected iceberg. We all share the same risk. No time for discussions about first- and second-class tickets … History will hold us responsible for what we do now.”

Coronabonds" levariam até três anos a montar, diz presidente do Mecanismo Europeu de Estabilidade Klaus Regling, presidente do Mecanismo Europeu de Estabilidade, lança "balde de água fria" sobre aqueles que veem a emissão conjunta de dívida na zona euro como uma solução urgente para a crise.]"Coronabonds" levariam até três anos a montar, diz presidente do Mecanismo Europeu de Estabilidade Klaus Regling, presidente do Mecanismo Europeu de Estabilidade, lança "balde de água fria" sobre aqueles que veem a emissão conjunta de dívida na zona euro como uma solução urgente para a crise.

Viajante escreveu:Não é fácil, mas eu recordo-me do Regling também colocar muitas reservas à compra de dívida dos estados pelo BCE, que violava os tratados, etc..... mas a verdade é que o Super Mário levantou um enorme muro contra os especuladores e se até nós não caímos novamente como a Grécia (3 resgates com perdões de dívida pelo meio), podemos agradecer ao Super Mário que conseguiu congelar os juros e despejar euros como se não houvesse amanhã!

Eu vejo muito mais abertura dos alemães, porque são eles agora que estão em apuros. O Deutsche Bank está prestes a afundar-se!!!! E não é o único em apuros. O caso do DB deve-se em parte quando decidiu abandonar os brandos costumes alemães de gestão e decidiram contratar uma pessoa sem escrúpulos para a liderança (o Ackermann..... por coincidência um banqueiro..... Suiço.... imagino quando alguém começar a escavar os buracos da banca Suiça!!!!). Os americanos não perdoaram as vigarices do DB em solo americano (alemães a fazerem vigarices? na......), multa de mais de 7 mil milhões de dólares!!!!!! Nos últimos 16 anos, o DB teve prejuízos de 20 mil milhões de euros!!!!!! E a Merkl já afirmou várias vezes que não vai salvar o banco!!!! Só o prejuízo de 2019 foram só..... 5,2 mil milhões de euros!!!! Os states estão ainda a investigar mais uma fraude que o banco terá cometido com um fundo Malaio de mais de mil milhões...... 90 000 trabalhadores em riscco!

A realidade neste momento é esta, os bancos alemães lutam neste momento para sobreviverem. Não sofreram a desintoxicação que por exemplo sofreram os nossos bancos. O que é mais cómico neste momento, é que a UE obrigou os bancos portugueses a acumularem reservas para prepararem os bancos para uma nova crise e a limparem completamente os esqueletos do balanço (limparem os incobráveis, a dívida que não conseguem cobrar), com isso os nossos bancos por incrível que pareça, estão muito melhores que os alemães, tanto assim é que muitos deles têem parados no BCE milhares de milhões de euros a ganhar pó (já referi aqui isso, o BCP tem mais de 7 mil milhões sem saber o que fazer, para não ter mais incobráveis)..... irónico! Agora chegou a vez da Alemanha ou deixa caír os bancos (nos EUA também íam fazer isso, mas viram os buracos que provocavam as quedas dos bancos.......eram gigantescos) ou abre os cordões à bolsa!!!!! E tenho a certeza que é pelo seu sector bancário, frágil neste momento, que os alemães ponderam avançar com os coronabonds! Porque as empresas alemãs podem não ter bancos suficientemente fortes para financiarem esta crise!

A ver vamos! Mas o coronavírus pode ter sido a machadada final do DB.

cabeça de martelo escreveu: ↑Qua Abr 01, 2020 5:44 am If coronavirus sinks the eurozone, the 'frugal four' will be to blame

Last Thursday, the leaders of the European Union convened a video conference to deliberate the escalating Covid-19 crisis. On the agenda was a simple proposal co-signed by nine different eurozone governments: the “coronabond”, a new type of public debt instrument backed by all the members of the currency union as they come together to combat the virus.

After a long decade of crisis fighting in the eurozone – pitting north against south, creditor against borrower – the proposal marked a rare display of unity, and the meeting was a perfect opportunity to ratify it. Issued collectively, the “coronabond” would drive down the borrowing costs of some of Europe’s most heavily affected countries, staving off another sovereign debt crisis and freeing up much-needed resources to invest in public health and economic recovery. “We are all facing a symmetric external shock,” the proposal read, “and we are collectively accountable for an effective and united European response.”

As long as the pandemic rages in Europe, even the supposedly frugal burghers of Amsterdam will suffer the consequences
Alas, the request for solidarity was swiftly rejected. At the video conference, the eurobond motion came up against the eurozone’s “frugal four” – Germany, the Netherlands, Austria and Finland – who argued that the issuance of a common debt instrument would punish the countries that had saved for such a rainy day, and encourage further fiscal mismanagement by those who did not. Solidarity, they claimed, just created moral hazard.

In the course of this standoff, it was the Netherlands that positioned itself as the stony face of the frugal four. For a small and trade-dependent country that has long portrayed itself as Europe’s liberal beacon – open, progressive and internationally oriented – it was a remarkably short-sighted position to take. Without a collective mobilisation of fiscal resources, countries such as Italy and Spain will be powerless to prevent further contagion, of both the medical and economic kind. And as long as the pandemic continues to rage elsewhere in Europe, even the supposedly frugal burghers of Amsterdam will suffer the consequences.

Yet the Dutch government has held firm. Speaking after the meeting, the prime minister, Mark Rutte, declared that he could not foresee “any circumstances in which the Netherlands will accept eurobonds”. Adding insult to injury, the finance minister, Wopke Hoekstra, called on Brussels to investigate why some eurozone member states had failed to get their houses in order ahead of the pandemic – comments that the Portuguese prime minister, António Costa, later described as “repugnant” and “senseless”.

The spat has reopened painful old wounds. In the early stages of the eurozone crisis, the Dutch were among the most vocal opponents of the initial Greek “bailout”, and demanded draconian austerity measures in return for the emergency loans. The former Dutch finance minister Jeroen Dijsselbloem gained widespread notoriety for his penny-pinching in the Greek debt negotiations, at one point appearing to suggest that his southern European neighbours had wasted their money on “booze and women”.

But Europe’s governments have run out of patience with such fiscal moralism. Over the weekend, reports suggested that Latvia, Lithuania, Estonia, Cyprus and Slovakia may add their names to the original eurobond proposal. Among these 14 governments, there is broad agreement that this is not the time for petty lectures on fiscal book-keeping, it is a time to think big and confront the continent’s greatest collective challenge since the second world war as a united front. As Costa drily observed: “No one has any more time to hear Dutch finance ministers as we heard in 2008, 2009, 2010 and so forth.”

Beside its untimely nature, the Dutch government’s position is also exceedingly hypocritical. The Netherlands has long been known as one of the world’s most infamous tax havens, siphoning off hundreds of billions of euros in corporate profits and international financial flows and keeping other governments from taxing them properly. To depict the Netherlands as a pillar of fiscal rectitude is to deny the myriad ways in which the very architecture of the Dutch tax system actively serves to undermine the fiscal capacity of its European and international partners.

Ultimately, however, the best argument against the Dutch position is that it is self-defeating. By rejecting the call for “coronabonds”, the Netherlands and its partners in the frugal four have undermined the ability of the wider eurozone to fight the pandemic as a whole – threatening the health and wellbeing of each of its members in turn.

Solidarity is not charity. It is the recognition that the struggle of one is the struggle of all. In a pandemic like Covid-19, that logic is global. But it becomes all the more urgent in the context of a currency union as thoroughly integrated as the eurozone. If the frugal four continue to obstruct a common fiscal response to this crisis, the remaining eurozone countries will be right to ask if they are not better off going their own way.

As Spain’s foreign minister, Arancha González, kindly reminded Hoekstra following his much-maligned intervention last week: “We are in this EU boat together. We hit an unexpected iceberg. We all share the same risk. No time for discussions about first- and second-class tickets … History will hold us responsible for what we do now.”

https://www.theguardian.com/world/commentisfree/2020/mar/31/solidarity-members-eurozone-coronavirus-dutch-coronabond?fbclid=IwAR1NnXug48Z7rwv3CSa8nFwsJ9B-RL4GSQpnpNJLsSMgTogdeuVTTblHqXU

cabeça de martelo escreveu: ↑Qua Abr 01, 2020 10:16 am O Daniel? Isto já lá foi colocado.

cabeça de martelo escreveu: ↑Sex Abr 03, 2020 6:25 am O objectivo é deixar os sindicatos contentes.

Túlio escreveu: ↑Sex Abr 03, 2020 11:17 am

cabeça de martelo escreveu: ↑Sex Abr 03, 2020 6:25 am O objectivo é deixar os sindicatos contentes.

Mas e os Trabalhadores da iniciativa privada, não têm sindicatos também?

cabeça de martelo escreveu: ↑Sex Abr 03, 2020 12:26 pm

Queres comparar a força do Funcionalismo Público com o sector Privado? Quando os FP marcham o país até treme (tão válido para a França como para Portugal).

Vou dizer de novo, não vivo em Europa, não sei como é aí, mas pelo que dizes me parece que sois ainda mais COMUNAZZZ do que eu pensava/temia: aqui só CAMINHONEIROS - que não são Funcionários Públicos - param o País, e já o fizeram antes, aliás. Como são REAÇAS, os caras estão levando o Brasil nas costas enquanto o resto se tranca em casa, porque descobriam que não são IMORTAIS.

P ex, os Paulistas e os do Distrito Federal! Eles não produzem mais do que uma fração da comida que precisam, se tanto, e quem lhes permite continuar esvaziando os supermercados para se prepararem para a Epidemia Zumbi que vai durar um século? Os mesmos Caminhoneiros, que saem de Estados como o meu, que AINDA produzem alguma coisa, e levam todo tipo de gênero para lá e voltam VAZIOS, porque SP/BSB não produzem praticamente mais nada que possam vender, seus (des)governadores se asseguraram disso. O daqui está fazendo o que pode mas parar o Agribusiness é brabo, plantas não param de crescer e animais de engordar porque o (des)governador mandou.

Eu adoraria ver os caminhoneiros resolverem parar de fazer fretes interestaduais, aposto que as tranqueiras SP e RJ iam acabar com suas "quarentenas horizontais" tão logo os estoques de comida começassem a baixar e os supermercados ficassem parecidos com os da Venezuela. Outra tranqueira que ia ter que tomar juízo seria BSB, porque coisas assim são FEIAS PRA BURRO, multidões saqueando primeiro as lojas de eletroeletrônicos, depois vendo que não se pode comer iPhone e passando às casas dos abastados, por saberem que lá as prateleiras e armários mal estão aguentando o peso de tanta comida.

O Brasil é assim, no pobre pode doer à vontade, no rico é um Deus nos acuda...


EDIT - Vi essa no FAKEBOOK mas não dá para postar direto, então lá vai:

LEMBRE, SE VC COMEU HOJE É PORQUE UM "IRRESPONSÁVEL" ESTÁ TRABALHANDO.