Dear friends,
we recommend you two contributions by Romano Prodi published yesterday on Financial Times and on Il Messaggero:


"Fight the crisis with eurozone bond market"
http://www.fondazionepopoli.org/?p=209&lang=en

and

"Bilancio più forte e titoli europei per battere la paura"
http://www.fondazionepopoli.org/?p=209


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la Fondazione per la Collaborazione tra i Popoli

Finally a good word for Europe…
It is quite unusual find a good word in favour of Europe in the anglosaxon press, that may be is still pervaded of a sort of euro-allergy due to several reasons, so thanks again for such appropriate comment on FT.

Once more the only solution to this financial crisis is to find an unitary solution, because as mentioned above is clear the single Member States, with 3-5 mio population and maybe a stand-alone currency will have no choice that be passive against speculation, but is different if such Member States are joining forces in a 493 million people continent, with a potential single currency so they will be able to define a shared set of rules to minimize crisis influence and have common RULES of GAME.

This is needed to compare same financial institution in uniform way, up no now is not possible across Atlantic, the coefficient underline financial solidity (even if have same name) are calculated differently like unemployment and other main key parameter.

But what is still missing is a shift from current way to calculate GDP to a more “sustainable way” that will include what really count, our life and human being, if I die, the GDP is getting high for my funeral services but if I am stranded in a beautiful sunny beach playing with my kids I will not produce any GDP grow !

Furthermore the proposal of issuing European public debt notes recall the importance of missing legal figure of Europe, currently foreseen with the consolidated text of Treaties recently rejected by Irish citizens.

However such public debt instruments will need to be focused on proper priorities (ie. Trans European Networks, energy and transport) that will result in a proper organic grow otherwise the exercise will lead to the constitution of an extra budged debt to keep imposed budget parameters.

All the best
Massimo Merighi