Shiyuan goldsmith Xiao Lei, Senior Fellow, NetEase said, the focus of the debt crisis in Europe is indeed concentrated in the same fiscal policy, but to solve this problem short-term hopeless. For now, the most likely and most realistic solution is to implement quantitative easing policy, the implementation of direct financing, the injection of liquidity to crisis countries. As a result, the scale of the eurozone debt as a snowball in the long run, such a policy can not be sustained. For now, the short euro dominate the market, the market outlook World pipe network reported that the world's steel pipe network to provide the world's steel pipe network editor , the euro is likely to fall below 1.3000 to 1.2800 near.
Hong Kong's Wen Wei Po reported, the G20 Finance Ministers meeting last week, the decision will expand the size of the European Financial Stability Fund (EFSF), from the current 440 billion euros to expand to 2-3 trillion euros.
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On this issue, the major EU countries, Germany and France, obvious differences. France agreed to expand when necessary the EFSF scale to enhance strength and flexibility of the European Union Assistance Fund, to achieve the purpose of strengthening European financial safety net "; Germany said there is no need to expand EFSF scale, those trapped the euro-zone countries recently to solve their own budget problems, the medium-term package can discuss how to use the fund, but the future must ensure that all euro area countries to comply with fiscal rules. In this week, an endless stream of rumors, the subject to market risk factors led the euro, the ups and downs in the session. By comments from German Finance Minister Schaeuble, the original short-term upward trend of the euro, after re-enter the downward track. As of press time NetEase in SAN FRANCISCO, Sept. 27 1:09, and the euro against the U.S. dollar intraday fell 0.33 percent, to 1.3452, down 45 basis points.
came September 26, sub-order matching period of the G20 finance ministers' meeting intends to expand the the EFSF scale to 2-3 trillion euros "rumors and more continuous decline in the euro short-term rebound, dish rebounded to an intraday high of 1.3549, but the rebound did not keep. In the afternoon again rebounded to 1 World Pipe network informed.3537, but also vulnerable appetite.
Beijing time on September 26 earlier, the euro intraday lowest dropping to 1.3366, its lowest level since January 18 this year.
The NetEase understanding, now the scale of 440 billion euros of European Financial Stability Fund, amounted to € 750 billion rescue part of the mechanism. By the euro-zone countries in accordance with the mutual agreement and secured financing by issuing bonds in the market to ensure that their bonds "AAA" level. Because of the need to retain a considerable portion of funds as a reserve, the scale of 440 billion euros, the actual use of funds, only 200 billion to 300 billion euros. Previously were used to aid Greece and Ireland, € 110 billion and 85 billion euros, mostly from the Fund.
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within the foreseeable future short-term time period, the euro be able to boost short-term is whether to expand the EFSF scale.
In fact, the German Finance Minister Schaeuble has once again demonstrated attitude: the euro area does not intend to expand the size of the European Financial Stability Fund, If this is representative of Germany's real attitude, then the euro will continue to be tumbled. (Author: Xu Shiying)
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German Finance Minister Schaeuble in Beijing on September 27, declared on the market, the euro area does not intend to expand the size of the European Financial Stability Fund.
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from the formation mechanism of the euro, whether it is the budget deficit out of control, or the rate of the vicious competition, are derived from the contradiction between the unified monetary policy and fiscal policy discrete this conflict, if left unresolved, the euro area debt The crisis risks will be difficult to eliminate.
Xiao Lei pointed out that "The current discussion of the euro area countries to launch the foundation of the euro and the necessity to reconsider.