A Union of transfers and not a transfer union

Pablo Diaz de Rábago

June 20, 2012

Why don’t we push for a direct transfer of the difference between funding rates in euro? It would work as follows: for new issues difference between mean rates and actual rates would be put into a pool or withdrawn from a pool. This commitment would work for a year with possible further extensions.

1.- This is a limited transfer.
2.- It solves the efficacy issue on Euroland’s periphery monetary policy.
3.- It could be withdrawn the moment “things” converge.
4.- IF ECB buys into it, it could be a win-win since ECB could put mean rates where Germany is now.”

Cómo salvar el euro

José M. de Areilza

15 de junio, 2012

Con José I. Torreblanca, Director del European Council on Foreign Relations en Madrid, he publicado este papel sobre el euro y España, se puede encontrar en

http://ecfrmadrid.wordpress.com/2012/06/14/una-hoja-de-ruta-para-salvar-el-euro-desde-espana/