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Transparency key to success Atlantic Alliance |
When listening to or reading US financial reports there are some remarkably disturbing facts popping up.
One
of these is the fact that it was actually the US which caused the
2007/2008 financial crash but this has been completely swept under
the mat by the US.
Keep in mind though that all the
media outlets in the US, except very few, which are "not for profit
organizations" (who mainly get their income from public/private
donations and grants) are mostly profit based multi-national
corporations. This should immediately raise a red flag as to the
impartiality and balance of the news/financial reports they release.
Possibly,
this is also the reason that at the same time there is this constant
barrage of attacks coming from those same US media circles bashing and
critizicing the EU/ECB for not adopting the US QE financial policies
(printing more money and pumping this" monopoly money" into the
marketplace) in order to get the EU economy going again.
As to the US QE policies, many economists believe this could eventually be a recipe for future US economic disaster.
Also,
looking at some of the official figures put out by the US Government
and reading between the lines, the attentive reader will quickly find a
lot of nebulous statistics on a variety of issues and items, including
employment, trade, debt, infrastructure, military and security
expenditures.
In this volatile scenario Wall Street is a
special "Chapter" by itself. Some critics call Wall Street a financial
"fairyland" where words and phrases as versatility, headwinds,
optimize, boldness, performance, choices, transparency, bubbles, wealth,
growth, state of the art, profitable, opportunity are used in different
ways as shares go up and down and traders turn out the big winners in
dividing up the spoils.
Obviously without any doubt
there are also "forces" in Europe ( Britain) who are following and would
love to have the EU adapt this "flawed" US financial model.
Fortunately,
and maybe unfortunately for some, the EU is a Union of 28 countries
with 28 central banks. Of these 28 countries 18 belong to the so called
European Economic Zone (Eurozone) that have adopted the euro (€) as
their common currency.and sole legal tender.
The ECB is the central bank for the euro and administers monetary policy for the whole Eurozone.
Any
report or statistic on or about the state of the EU economy issued by
the ECB is scrutinized very carefully by all 18 members of the ECB
before they become public.Canada which is a Federated country also
applies similar rules.
Official EU financial reports
and statement are therefore without any doubt far more accurate and
reliable than those coming from US government agencies.
Isn't
it time for the EU to get to the point with our friends across the other
side of the pond on this issue? And what better venue to do it than
during the ongoing EU-US trade negotiations?
EU-Digest