tag:blogger.com,1999:blog-33445632.post3888443944297410464..comments2024-01-20T11:56:48.682+01:00Comments on WindRose Hotel: Meanwhile, gold is rising ...S.R. Piccolihttp://www.blogger.com/profile/15622464895435470724noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-33445632.post-89947453689539090182010-05-14T12:39:37.592+02:002010-05-14T12:39:37.592+02:00It could also be maintained that had credit been v...It could also be maintained that had credit been virtually free in Europe as it has been in the USA and even in Great Britain during the crisis, things wouldn't have become quite so bad in the euro zone.<br />For the last four years the euro has been over-valued by pumped up interest rates in order to 'render it credible' and, one also suspects, to promote it as an international alternative to the dollar. This Bundesbank economic policy seems to have caused more harm than good, certainly regarding the European stock-exchanges and the State members whose relied on exports have continually suffered as a result, even before the crisis really set in.<br />What measures were taken during the crisis by the ECB were too late and insufficient. The euro zone will be the last continent to painfully drag itself out of the crisis, and it's certainly not there yet.<br /><br />Ironically it was/is the Greek disaster with other issues that's finally dragging the value of the euro down to its true level. If it's impossible to cure the debt disease by making it even worse, at least the real, even belated, value of the euro, will be better than nothing (provided the ECB refrain from raising the interest rates again).Mirinohttps://www.blogger.com/profile/14762774089637304953noreply@blogger.com