“Europeans are obsessed with adjustments and cuts, but they should be thinking about economic growth”. Nouriel Roubini
I am increasingly aware that this 21st century should bring us an end to victimhood. After all, those who want will find a way, and those who don’t, an excuse. Today, the main source of wealth is no longer capital, it is talent, and that is why it is said that slavery has not been abolished; was put on payroll. Be the change you want to see in this world, because in my opinion responsibility is so abused in this society that people confuse it with guilt. Being ignorant in these times is absolutely a personal choice, and having said all that, we’re only going to blame a few for the current disaster, will you join me?
The invasion of Ukraine, which some want to see catastrophically by calling it the Third World War, has revived the memory of the barbarism experienced by European society during the first half of the last century. How? In the form of two world wars, something that is essential to remember happened less than 100 years ago… I have always spoken out in favor of my Europeanism under the dogma imposed in the form of the euro, like this victory of peace over war and that after the Brexit Some intellectual opinion makers allow themselves to remember. But if it is true that I defend the common European project at the origin, the evidence is that I cannot do it under any pretext.
In my opinion, the project European Union in this 21st century one could define it as an enormous and resounding failure if one considers that the principal instigator of this one, the UKabandoned us, and my dear diplomacy through its various institutions failed in the heat of the war of Ukraineleaving a new framework for the diplomatic relations of this world with Russia. Here comes in EU and the NATO as discussion centers and that definitely leaves me with two questions; Is deterrence the best way to maintain a diplomatic relationship? Is it possible to sustain an economy through bureaucracy?
If we do a retrospective exercise, I think the answer is obvious, don’t you think? Given that the first crisis which tormented our generation dates back to 2009 and the truth is that I do not think I can look with pride at the construction of a Europe which reacted to its first major common challenge under the crisis of the PIGS (2010-2012), the bankruptcy of Greece (2015), the Brexit (2016) and the war in Ukraine (2022), in such a way. It is easy to guess that Europe has been excessively slow to decide and slower to execute, corseted by the different mentalities that make up this continent and above all by the braids that each nation defends in favor of the local, not the general.
And it is that the national spirit of Europe is non-existent, gentlemen, and it is something elementary to build a successful future. Half measures will build absolutely nothing and the lack of inspirational leadership that convinces the masses of the benefits of Europe, is undoubtedly the seed of failure itself. Europe needs flexibility, determination and common liberal fiscal rules that emanate from an electoral mandate from the people, rather than from the select club of elites that has been forged under a very dodgy democracy. Having said that, Who elects the President of the Union?
The elite ! Europe urgently needs to do a self-criticism to contextualize its present and change its future, a very complicated thing if we consider that part of its success currently lies in the fact that the current authorities understand its bankruptcy, and do generosity a virtue to eliminate their quota of power in favor of greater freedom and a democracy more worthy of its own constitution.
To all this, the elections of France clearly represent a new challenge for our European constitution, since the rise of supporters of The pen could leave doubt in the second round as to the continuity of the status quo by Mr. Macron. Certainly, the moderation of Le Pen’s anti-Europeanism could be a relief for the euro and Europe’s financing assets. But the ideological base of the French far right, I think, could take the euro down to its 2016 lows and support the peak of the risk premium towards a new monetary challenge for the ECB about if your misnamed villain slow-down It is the risk that must be demonized, in the heat of the monetary policy decisions that will undoubtedly mark the short-term future of the main European stock markets.
Like the always controversial and catastrophic Roubini; Europe should concentrate more on thinking about growth than on adjustments, budget cuts and cheap interventionism which suppose nothing more than a slab towards the growth which is presupposed to a common economy, whose EU has rather made the engine of liberal interventionism in the world to defend the classical origin of my beloved Austrians. And what else do you want me to tell you… Honestly? See the lady’s shade of gray the guard About an inflation which, far from being transient and persistent, is greatly distinguished by being at its maximum threshold in this 21st century… It now offers us a new paradigm; that of a pervert slow-down under a false pretext of fragile inflationary growth which they are trying to convince us to hide from the harsh reality that is in front of us, gentlemen.
And it is that Europe has not only become a slow, interventionist and overly regulated economy, but today he defends a structural energy crack that can only be corrected by a private initiative that must know how to overcome the obvious denial of this political lineage capable of stubbornly evolving towards the metaphor of a slow-down turned into the most humpbacked savage stagflation of the past 100 years. Quite a gem in the form of a legacy that, if we are able to think, will get us nowhere. In summary, Europeanists yes, but not at any price.
Gisele TurazziniFounding CEO and owner of Blackbird Bank.