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by parents visit, floods and exit. Feliz navidad

Ooooh guys, to talk about, and sooo little time and Muse.

But for you, my few faithful Leserlein, I do like the course and also at night at 12 after 8 hours standing and smiling.

So.

Where do we start.

My parents were here. Of 23 to 30.01. Full great, I'm soo happy.

And because I'm an old hare reception so that I have of course the same time one of our hottest suites reserved for the 2438th

They come like that and I've picked up at the airport.

They had then been hired directly from home n car with Avis.

And our hotel is working with Avis.

Avisfrau I mention in such a way that I work there and the enthusiasm so full aaah, here she comes every week for 20 years towards me, totally mad, super full, why did I not say so, because it gives us equal to n times better car.

full fäääääd.
Connections, age, Connections.

If GEDU then to the hotel, checked in, I n those few people are introduced and then we walked a round. Show

Had that's all, so I was already full of great and moderate per-felt, yes:)

But of course, had come Kam had:

My parents arrived and gabs promptly shit weather.

So also then two days later.

Aka-the-century storm.

it the entire night had durchgepisst at wind force 30 000 and the moment I come then to one of my days off down to my Eltis from breakfast to pick what to my bleary eyes:

Everywhere ceiling in the entrance hall and towels on the floor, because it's rained in fact and no kidding by the ceiling.

facing restaurant was n Lake, a miracle that we did not go over the guests with a boat . Had

have had then been built from blankets and towels so ne way bridge, the at least halfway to her feet wet could breakfast.

Part of the ceiling crashed down from the restaurant was actually dropped hats throughout the hotel, we had about one million claims for water in the room.

And because I'm as flat as I am (kind-hearted, socially and loyal) I I promptly grabbed the mop and spent half my day off in order to clean up water.

Thank God I had it halfway then stopped raining, and thus s it not soo bad.

We obviously had even been pretty lucky.

was half According to news Arrecife under water, bridges had to be closed and evacuated a few hotels even.

Typical Spain: As rains for two days and already there's floods and mass panics.

But my God, we have rocked the thing and good wars.

Unfortunately, I had only 4 days off are getting from the 7, my parents were there, and after I bit it with my Ellis Island was finally and now look at any idea of the sights have that I guests have been foisted every day completely clueless, I have to work again.

We were in the Jardin de Cactus, Jameos del Agua, Cueva de los Verdes, etc.

super everything.

within 3 days I have not seen much of the island in the 3 months before.

course was basically the whole time that my parents were here, shit weather, how can it be otherwise.

Sunday are my parents moved back, full of sad, and I had to create to start at 3.

That was Isa's last day here. Isabel, my faithful roommate from Switzerland, has left me today.

After 6 months internship here today to 2e they returned to their homeland and Schwizerdütsch has left me with dirt staring room and a pile Alkflaschen.

I'll miss her, she is really great.

disappears in a week and returned to Germany Messi, each leaving me: (

But then will come shortly afterwards four new interns and how can it be otherwise, there are Dutch

. The Dutch I'll not let go in life.

Hopefully, at least cool Dutchman.

But yes I have now Martina. Martina is ne new quasi-intern from Croatia, where she is head of the reception and NEM Solmelia hotel.

And the forms that bit further, because they want to be a hotel manager.

is the 28 and really cool.
thin and full and big.

And they will remain until early April, around 3 months.

violently real.

3 months I am only here.

I've had about half my time abroad behind me.

Now looking back we went really fast.

Especially since I'm here because I feel good here, just as abnormal.

I was so miserable luck with my hotel here, as all the people are so perverse cool and casual and friendly here.

And that my work so bad fun.

course it is stressful, but I was happy just if I can make the guests happy or if they reflect, when I illuminate.

And of course I like 's also that all Spaniards to leave me because I'm blond.
Bwahaha.

Is there anything else?

certainty, but my degree is no longer true.

And my hand hurts from fast typing.

Besitos a Alemania.

echo de menos

Os.

Khz Ultrasonic Transducers -fish

The European crisis - Part 3: Coordination of economic policies and EU economic government and the crisis of capitalism

When the financial crisis in 2007 in the United States began - then played down as "U.S. mortgage crises" - prevailed outside the U.S. first for months before the assessment that it was an American problem. When the crisis soon swept across the Atlantic and Germany brought the SME Bank, IKB and Sachsen LB into difficulties, although there was concern. But a beginning serious crisis on the European continent at first thought a little. Even in summer of 2008, just weeks before the bankruptcy of investment bank Lehman Brothers were, for example, the economic forecasts of economists for the second half of 2008 by the Bank positively. Following the Lehman bankruptcy has all changed very quickly and only from that sat in the public reporting and debate on the crisis called the terminology "financial crisis".

But even that was a misjudgment. This is expressed first is that the causes of the crash following the real economy were incorrectly seen alone or at least very much in the financial market crisis. And because the crisis was as a financial market crisis understand that governments have no economic policy for itself for action. Instead, they dumped second the banks with the problems on the proverbial feet. When it became clear that the central banks to financial markets could stabilize as quickly and increasingly shifted the risk of a credit crunch in the foreground, the government acted after all. Here, the world economic crisis was perceived as cyclical, that is as short-term, temporary - the third sign of the false sense of crisis. The interpretation of the situation at this time was as simple as wrong: There was the conviction that the state should support the real economy in the spirit of Keynes only temporarily with economic stimulus measures - until the central banks would be able to stabilize the financial markets again. Where has this shows itself in the U.S. and also in Japan.

Only in recent weeks, as part of the EU's debt crisis, has - in view of the many places re-emergence of problems that point to an imminent return, or, depending on interpretation, a resurgence of the financial market crisis - a debate on economic policy Action for the European Union started.

After almost four years, the crisis debate in Europe now that is actually still arrived in a crisis reality - at least a little.

again because the error is made to derive this action solely on the financial difficulties, which are currently most heavily indebted EU member states found. As a consequence, dominated by the controversial debate on the one hand, proposals have the tools to stabilize these countries and the euro - increase in rescue funds, Euro bonds, European Monetary Fund. On the other hand, economic policy action at European level seen only insofar as it serves to prevent future bad financial management and thereby caused excessive indebtedness in the EU Member States.

is currently out of this discussion is still more likely on a fundamental level: Do we need a central European economic government or merely a better coordination of national economic policies? That is the question that is important and this shows how superficial the Auseiandersetzung at this stage is actually still. With an intensification of the Stability Pact is about the question of uniform Criteria on which the budgets of governments are to be checked and automatically cross-sanctions. Sun will include about the competitiveness of Member States to come to the forefront of attention. Such criteria can not easily find and often is not as clear as they can be measured in any meaningful and reliable. For example, just as the definition and measurement of welfare by the gross domestic product (GDP), the definition and measurement of competitiveness in the economic sciences-not without controversy - one in the current political debate, at least considerably underestimated problem.

What does the debate is that it remains a perception problem underlying the crisis, which excludes a substantial part of krisenursächlichen problems: the crisis is simplistic-fachend conceived as a debt crisis. The financing problems and the implications for financial markets and the euro to be seen. The problems of the European economy, which, as in "The European Crisis - Part 2" argues signal that the current European model of growth with no more be hidden as much as possible. While the imbalances within the EU seen as problematic and they are - here and at the global level - in the light Woren of considerations, governments on the current account balance target oblige, already briefly discussed. There are concrete solutions, it is not.

Meanwhile, the EU is only seen that this problem is not solely or exclusively on the part of countries with current account surpluses can be solved. Rather, to work mainly in the countries with persistent current account deficits from increasing their competitiveness. However, as already pointed out earlier, while the concept of competitiveness itself is at Planning: What does the competitiveness of states are, how they will measure be? After all, now sprout on the knowledge that one can "success model" of export nations is not simply an act misunderstood harmonization sierungsstrebens put on by all EU Member States.

has Nonetheless, the discussion list in the direction correctly accounted for financial management "on the basis of a few" good "macro-economic indicators - only this is in the crisis just become clear that these" proven "say reliable figures does not exist: What's Example as "welfare"? All attempts by economists to define it and measure, have failed. Thus, it is also questionable as to what extent the "economic growth", measured by the growth of gross domestic product, to give appropriate guidance at all can - not least when looking at everywhere in the industrialized countries are far apart anderklaffende think wealth and income gap. The wax tumsideologie - more and more of the same - that follows the economic policy, given the experience of the crisis are increasingly being questioned.

All this and more is behind the question of economic policy action for the European Union. The fact that the financial market crisis, the leading economic Schools - neoclassical, Keynesian and neo-liberalism - has itself plunged into a crisis because they obvious weaknesses and the limited financing power orientation mercilessly exposing their theories complicates the Orien-tation on this issue heavily.

On the economics side a kind of vacuum has been created, the policy hurt the long term not because they once ignored the economic action and watched the crisis with all its economic theoretical questions as a problem of central banks. Separately, it will hurt but also because not because they are in the past few years more and more on economic theoretical foundations removed and instead shifted to economic pragmatism. Thus, once the stronger orientation meaning of empirical data, for others a greater consideration of the interests of stakeholders, that is: The door for lobbyists was wide open. The dependence of the Policy of the "Expertise" and the Council of lobbyists has increased enormously: The other side of the coin.

The situation has changed fundamentally. First today is the influence of lobbyists in the population and seen even in the economy extremely critical. Second tends the orientation of value of empirical data that is of course always past safety data in turbulent economy Times to zero. If in the economy and financial markets topsy-turvy and nothing is as it once was, then all thing of the past collected and data compressed experience to master the reality only of very limited value and some completely worthless. In other words, in turbulent economic times is the economic theory, the only support for the economy and financial markets-related policy.

This makes clear how precarious the situation really is, because the financial market crisis of all economic theory, the last stop giving the orientation of policy, has shaken to its foundations.

What aggravates the situation is that current economic policy action is seen at a European level, though. But as before, the need for economic stimulation to the Lehman bankruptcy, he is currently justified by the financial markets ago. The proposals for an EU economic government give this reason for example, rather the impression that the politicians had a type of "European-saving police" or "EU economic government savings" in mind.

this and can not be the solution. It would make the EU the burden to their limits and intra-European as well as the intra-governmental tensions. On the other hand, a clear economic policy action at EU level, in isolation from the secondary question of whether it should be centrally organized - a kind of European economic government - or a framework for national governments.

Taking into account the above-mentioned problems an economic and political solution and therefore a new, sustainable economic model for the EU can not be found, as long as they can not reach agreement on a economic policy model duer the EU is . It is one of major failures of the EU that this issue was never discussed at all. This is the reason why every EU Member State wurschtelt economic policy in front of him and we now, under pressure from the debt crisis of thinking in that direction to start.

If you want to take this question of the economic model in attack, then one must also be clear what that means: It is - as always in times of crisis - not without recourse to economic theory. Because these statements is in principle for the functional relationships of the market economy (or capitalism) and the conditions for economic Prosperity ready. That is the point: What can and must be done so that the European Union as a whole prospers again? The problem: There is not the one correct theory, but also imperfect and different theories with different strengths and weaknesses.

however terrible abstract as it sounds, it is not. Because everyone knows what drives the market economy, which it can prosper, namely: the competition . Competition is the engine of Marktwirtchaft and at the same time ordering and a dynamic regulatory caring power of market forces - at least in the ideal. In reality it is not - no more, it must be said, because in the post-war Germany Ludwig Erhard's example, he was very clear. What we see today, however, is often referred to as "predatory capitalism" or the same as a "crisis of capitalism", which is connected to the receivables for a strong state. (1)

It is wrong and can only be explained by ignorance of the relationship, if capitalism, market economy and competition as the core of the problem are considered, which could only be solved by a strong state. The problem lies elsewhere: economic policy can successful only if they are run by a true idea of what conditions must be met müsssen so that the economy prospers, it just does not lead to excesses.

is crucial for this, as explained above, the competitive ideal.

The question of the conditions under which competition unfolds all its positive effects on the organization of markets and for economic prosperity is, in Economics in of different ways answered - which currently covers No one theme-mated. We can therefore assume that the competition-statement on which is oriented economic policies of the industrialized countries - they do it, also addressed if no one - obviously the responsibility is that we are witnessing today a predatory capitalism and such a have deep crisis with sustained large, systemic instability.

In "The European Crisis - Part 4" is to set out to choose between principle which different visions of competition, the European Union in order to guide economic policy, which does show the underlying theories and orientations for action which they give.

addition recommended Posts:
- first and second Great Depression: A different situation, other measures, but the same error - History Repeating? (v. 21.03.10);
- Beating The Crisis: The Dilemma of economists and central bankers (by 6:07:09);
- financial crisis and economic system: resistance and success of lobbyists show that a free market economy, there is neither the goal nor is (v. 02.01.10).

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The crisis of the FDP: ostrich policy - not open to constructive criticism

The FDP lies still in the survey depth and seems on the eve of seven or maybe eight state elections - when in NRW but still comes to new elections - not willing or able to put the causes of this deal and to . change An example is the reaction to my analysis of the problem, which I took Wolfgang Kubicki for his criticism of the FDP leadership in an e-mail note. What happened then, I have informed Mr Kubicki in a second e-mail:

Mr Kubicki,

in my e-mail from 12.12. I have you in response to her open criticism of the FDP-rate draw attention to a fundamental problem do. I make no secret of what I have written you, but would like it to be understood as constructive criticism.

As I now, however e-mail from the same mail account sent to a member of the Bundestag, I realized that this account is on the spam list of bundestag.de. My mail has been automatically rejected.

I would like to inform because it is very strange. I have never been sent from that account and mail server from an e-mail to a member of the Bundestag. In fact, I'm from this account before and never sent an e-mail to a politician, because I only for business Purpose use, except to you.

I do not know who to my e-mail was forwarded and I have no objection at all to the contrary. My message has reached the MPs in the meantime by other means. I'm still not happy that something like this happens.

I do not want a big deal out of it. But maybe this incident says more than me.

stand for any questions I will of course be happy to help.

Sincerely
Stefan L. Eichner

I may be wrong, but for me it does not look, ask when the party leadership the self-inflicted problems. On the contrary, apparently even tried to prevent a debate by all means. This is a bad sign for a democratic party and not an encouraging sign for those FDP members who have an interest in the future of their party - have - over the year 2011.

Citizens do not care. Their vote on the future ability of the FDP, they bring a cross on the ballot reflected. It is for the party in 2011 seven times a possibly very hard, but in any event for years to be a irreversible decision.

Additional links about this topic:

- neoliberalism in crisis: From the liberal market-liberal economists and politicians mistake (v. 21.06.09);
- Why politicians in the crisis of economic policy, not " get the curve " (v. 05.10.09);
- Economic and Financial Crisis: Wrong theory, wrong policy crisis (v. 17:11:09)
- "more freedom dare!" - Right, reality and fall of the policy approach of the CDU. "Stuttgart 21" becomes Marstein. (v. 12:11:10).

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The European Crisis (Part 2): The euro crisis collapsed and the economic growth model and the EU

not only Europe but also the rest of the world is still extraordinary in a crisis situation - regardless of all against-part statements by politicians and all (especially for the German economy) rosy economic forecasts of economists.

In the European Union, this crisis is a sophisticated face. While the German economy in particular over the last few months, quite well-developed, which meets for the other Member States to possibly very limited. Everything is still the Situation in those countries dramatically involved with the financing of its heavily indebted state budgets problems. Whether Greece, Ireland, Portugal, Spain or Italy - where improvement is there nowhere in sight. On the contrary, is becoming more the devastating effect the chosen harsh austerity measures on the affected national economies and in particular on labor markets. In these countries there are significant social tensions that are perceived elsewhere apparently not nearly to this level of intensity. The result is that the seriousness of European crisis on the one hand often underestimated, especially in Germany.

What's the other complicating factor, are in "The European Crisis (Part 1)" outlined factors, in particular the parallel behavior of financial market participants - including banks - U.S. rating agencies, press and media, from which a dark exaggerated doom scenario for the euro-zone and € the results.

It is therefore difficult to assess the scale of the problems correctly.

has since stated that began in the press and media in order to correct the negative image exaggerated with reports and analysis. This is good news. Above all, this correction has mediated in the "high" for Europe, of course, but also to do with the warning by Timothy Geithner from the looming insolvency of the U.S. that the relations, the crisis helped issue back to straight again. This is good for Europe.

What, however, still difficult to obtain because of the European crisis in the handle, including the fact that it is misunderstood. These are financial market professionals, and media and politicians alike contributed to the crisis because she from the beginning as "debt crisis" and the "crisis €" referred to.

While it is only half the truth, to speak at the European crisis of a debt crisis, then the Term "crisis €" much less. For is not the euro, as Jean-Claude Trichet again quite rightly says, the problem, but the budgetary and economic policies of the Member States.

It had always been clear that the European Monetary Union would be dependent on economic stability throughout the Euro-zone. Anything else is unthinkable, because one of the main economic policy instruments, namely the possibility of exchange rate adjustment by appreciation or depreciation, is pleased with the continued monetary union. Because the economic policy remain in national responsibility, it was also clear from the outset that it is the responsibility and would be due to the discipline of the Member States to ensure that first will work vigorously and consistently to a reduction of economic disparities within Europe. However, this is not done sufficiently. More than that shows the current crisis, have produced both the targeting experiments in this direction of Brussels (for example, under the Structural Funds) and the Member States of the crisis-ridden no lasting positive results. Seen in the financial and economic crisis of the litmus test for Europe's growth model and Europe has had this test - if it even wants to express dramatically - not passed.

Second had been the decision to achieve the monetary union realized that it would be the responsibility of the Governments of the Member States to contribute to economic stability at home care and that includes a responsible financial management. Also this is not done in a satisfactory manner and that is not only crass misbehavior, for which Greece is the infamous case in point. It has to do with the fact that director-ments not have the temptation to resist, not later than the beginning of the crisis, national interests more strongly to the forefront of economic policy to provide action, which - restricting the possibilities in the result of weaker Member States to ensure their economic stability in the crisis - given the existing own economic strength.

Not the euro is therefore the problem and so it is absurd to assume that the abolition of the euro would be the best solution. She is not unique.

The European crisis as a "debt crisis" to describe is the same, previously above, only half the story.

First be taken into account that we are still in a exceptional crisis situation are. This is true for us as for many other economic regions, especially the U.S. and - as a non-euro member - including the UK. The national debt crisis is essentially a receipt for the path chosen to stabilize financial markets and the global economy. It is now presented to us and virulent because of this "solution" other than intended no lasting improvement to be related, but has glossed over the underlying problems with a lot of money.

That was quite predictable .

But what was not predictable, is that governments have purchased with money Time would not use it to tackle the crisis at the causes and find sustainable solutions. Exactly why the crisis brings us back now. However, it is frivolous, the exceptionally crisis implicitly and tacitly to explain to normal and thus to make the debt problem of EU states to a central, independent nation-state by the crisis problem. perceived

this into account must second that the debt crisis of the EU States, is precisely due not only to unsound financial management and therefore impossible overcome only by strict austerity can be. Rather, animals Konsta, that has collapsed in the crisis countries, the current growth concept. This must be seen, what was the core of their recent growth concept. Whether Hungary, Greece, Ireland and other smaller states of the EU: for all had the previous European growth model massively positive impact on their own economic development. It can also be expressed differently: Without the European Union there had been in the past, no such positive economic development. In other words, the current economic crisis and growth of these States, a sign that the former European growth model does not longer works.

know this, we must, as the previous European growth was-created model:

European integration was always driven by the idea of eco-nomic convenient. This is the case for the European single market project, the European research and technology policy, for European industrial policy. Always there were also included European corporations who benefit especially, but should help generate the necessary pressure for such integration steps in the planning. Today it is called simply "lobbying". And it is also true for the monetary union and for the enlargement of the European Union. Always the resulting economic benefits were crucial to ensuring that these steps were taken.

The central, guiding thought in building the European Communities and later the European Union was to create an economic point since the late 60s, an economic area which offered the right conditions for companies in international competition against the U.S. catch up companies (see especially 100 COM (70) final, "The industrial policy" from 03/18/1970 - the so-called Colonna memorandum; see also (1) and (2) ). But it was considered necessary, in Europe the rise of large companies - so-called European Champions - to promote, which could compete with the dominant for the U.S. large companies. Back then, because it went through unanimously agrees to mainly increase efficiency and achieve economies of scale or economies of scale, have been promoted including acquisitions and mergers in the banking sector. For large, international companies need to operating successfully in global markets according to major banks on their side, they advise and could support financially. It also needed of how the U.S., a large, single European market, but also new for this market developed European products and services that it exploit the large companies permitted, the dimension of the Single Market. The degree of harmonization of rules, norms and standards, and the abolition of national currencies developed in this context, a huge potential for cost-cutting economy.

Enlargement of the European Union was the view of the then EU members quite in this sense especially directed to the markets of the accession countries for the large European companies to open up. Of course, other factors also played a role, in particular about the use of the opportunity, the Eastern bloc countries after the collapse of the Soviet Union guaranteed the future beyond the control of the new Russia, the Commonwealth of Independent States (CIS) can offer.

, European growth model existed long before the eastern enlargement and has been extended to the peripheral states of the Community - to them, including Ireland, Portugal, Spain and Greece - used and then later extended to the new accession countries. Shortened form of this growth model is to provide the economic Catching up on the edge of the weaker states of the EU to strengthen by increasing the local economic activity, which should come at the same time the economy, particularly the large EU countries in central benefit.

should essentially benefit these countries first the fact that the large European companies extended their activities to these states and thus open up not only the local markets, but also from there, given cost advantages (especially and low wage costs could benefit). In this context shows the example of Hungary, once a model country for the success of this model, very clear that this arrangement no longer works since the crisis in these countries. Hungary will be raised since the fall of 2010 a special tax for the purpose of fiscal consolidation of large companies (3) to defend themselves but now heavily against it, contribute to the costs of crisis management immediately. (4)

Secondly, the economic development of the weaker EU-members through various Föderinstrumente, particularly the structural funds, including massive financial support. That is, of redistribution - the richer countries to pay higher contributions to the EU budget, it flows but less of it back at them. Ultimately benefit from the dedicated especially in fragile States, major European companies. Now, the crisis shows that this support is obviously not sustainable contribution to reducing economic disparities within the EU.

It is fatal in this context that EU, ECB and IMF does not seem to have recognized that the European model of growth not seen since the outbreak of the crisis with. The commitment and the profits of the large European companies in fragile states is crucial for their economic stability. Therefore, these countries with the world economic crisis, which primarily The internationally operating companies had made and which is not just overcome already, as I said above, get into such great economic difficulties.

fact that EU, ECB and IMF have now made a unilateral and drastic austerity measures as a condition for aid to the states in crisis hits, it doubly hard: They have no financial freedom more, to find himself a new national growth strategy for their country and implement - because without money and at the same time as a result of massive cost-cutting policy on economy is not collapsing. Furthermore, there is no hope for them currently able to view, the EU will help them in that they are on the search for a new, sustainable european grayling growth model makes the economic crisis of the States includes.

The austerity dictated from above is definitely not a concept of growth and no way to make the former European growth model to work again, but the opposite. pursue this path will increase the internal stresses in the crisis countries and intra-European tensions between the crisis countries and the rest of the Union. The example of Hungary and the special tax for corporations, which must be understood as a direct response to the collapse of the traditional European model could therefore set a precedent.

With this collapse created a vacuum that urgently with pan-European aspirations for a new European wax growth model must be closed. It is not acceptable and it is unacceptable that an ongoing basis as a result of this vacuum and the continuing crisis in either the citizens of the crisis states are asked to pay (austerity) - such as Hungary, Greece and Ireland - or the citizens of the "rich "Member States (Rescue Aid / Transfer Union). It is acceptable, especially not because both ultimately serves only the old, to large European companies anabolic growth model artificially to keep alive by corporations and large banks - not the states! - Again and again saves (eg Greece, Ireland). And by the same time its preferential treatment to which they have become accustomed obvious (eg, lower company tax rate in Ireland) upright, even during the crisis they respectively shall not participate in the costs of crisis management - as they, for example, explicitly required in Hungary (5), but is insufficiently substantiated (6).

, and is therefore described only half the truth, the European crisis as a "debt crisis". The euro is not really the central problem of the European Union or the euro-zone. The central problem is the stability of the economy in the Member States, which is partly the responsibility of governments, on the other hand, in case of crisis states also on the sustainability of the European Economic and growth model dependent.

For sustainable liberation of Europe from the "stranglehold" of the financial markets on a sustainable European growth story is still needed. A new growth story is essential for the EU as a whole. Therefore, the search for a new, sustainable growth model for the Heads of State and Government have top priority.

to dependence groups of economies:
- export surpluses: The German trade surplus is one of the auto industry (by 24/01/11).

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The European Crisis - Part 1: Hidden concern in the U.S. before the rise of the euro for the reserve currency?

The European crisis as a "debt crisis" or simply as "Euro-crisis" to understand how this is suggested to date of policy experts and media, is insufficient and leads in the search for solutions in the wrong direction. It's not only comes to saving, but also about the current European growth model, as is evident now more and more, the European Union (as a whole) who threatened to no longer be covered and therefore urgently. However, in this direction so far has not been made. With the debt crisis, however, highlighted the issue of "Quo Vadis" for the EU in the first place and radical saving concepts are not the answer to everything is to dar. in "The European Crisis - Part 2" will be discussed.

If, as a starting point at first only the debt problem in the eye holds and not so much look at Europe, but mainly to the U.S., you can certainly state that the debt problems of the EU is far from are as serious as the across the Atlantic. They are also also strengthened by various factors. The debt situation in Europe devoted to the press and media really art. I would therefore like the following one in which the reinforcing factors, in my view and the position of the U.S. with the help of a - by no means exhaustive - carry-on listing points again by appropriately interpreted in mind:

1. on the markets is obviously a tightening of the debt problems of EU speculation. There were always financial markets, which forced the European Heads of State and Government and the ECB rescue operation and that primarily in that it states the costs of financing debt driven into the air. Still does not have the financial means and security guarantees tremendous efforts to calm the markets. Regardless, it is in the debt crisis but not insignificant amount again to rescue a bank.
2. The leading U.S. rating agencies S & P, Moody's and Fitch have with ongoing, but not uncontroversial devaluations of the standing and the persistent questioning of the ability of the Crisis States or Europe to solve the problems, can significantly since early 2010 further aggravate the situation. Greece became the first euro-zone member felt. But it got more and more "potential" Crisis states targeted by the credit quality monitors, the rating on the world market have a virtual monopoly. (1)
   The EU has so far not succeeded in spite of all the support measures and guarantees, to escape. Rather, the European Heads of State and Government, especially the European Commission, in whose jurisdiction the solution search is actually, still driven financial markets. This is however also on their disagreement and in some, undermining the credibility of EU decisions and statements by Heads of State and Government. These include the hesitation of the Federal Chancellor Angela Merkel at the start of the crisis in Greece and the controversy over appropriate solution components (Keywords: IMF and EWF, increasing the rescue fund, Euro bonds). This, however, includes the proposal of David Cameron to freeze the EU budget first and then actually cut (2) , supported by Germany, France and Finland. For he was the wrong time and fired the suspicion existed within the EU for doubt about the importance of the European project.
3. addition, brandishing the crisis almost €. In the press and the media for months already dominate articles and reports, ascertaining numerical to the appalling depths of the Euro-crisis and in the conclusion often predict the disintegration of the euro zone or the demise of the euro. It is - In the total viewing - in fact a media barrage against the euro, which seems not least to put on nationalist sentiments, it stirs up in any case. From the strict rejection of a transfer-Union and the desire of many for a return to German German mark is also a result of this reporting, which has lost sight of the relations and so ultimately no longer objective.
   

because the debt problems of the European Union fade almost facing the U.S.: was

• The U.S. budget deficit at the end of the fiscal year 2010 (September 30) 1.294 trillion U.S. dollars (1.416 trillion for 2009), corresponding to a rate of 8.9 percent (10 percent) of GDP. (3) This is because second-largest deficit in U.S. history.
• In the last three years alone, the debt of the U.S. federal government for three trillion U.S. dollars on a total of 13 billion U.S. dollar increase - show any deficits in the trillions of social funds. (4) expected in financial year 2011 to increase the debt of the United States as calculated by the Commerzbank to about 70 percent. (5) The U.S. Court of Auditors (Congressional Budget Ofice (CBO)) suggests that with rising costs of health insurance Medicare could rise and Medicaid as well as lower tax revenues, the debt ratio by the year 2030 to 140 percent of GDP. (6)
• There are also further the precarious financial situation of many U.S. states and municipalities, some of which are nearing insolvency. According to calculations by the National Conference of State Legislature, the U.S. states fought in the fiscal year 2010 with budget deficits totaling 121 billion U.S. dollars. (7) disputed About 30 percent of their expenditure to 2010 on aid from Washington. For 2011 alone for the states of Maine, New Jersey, North Carolina, Arizona and Nevada, with budget deficits each with more than 25 percent expected. (8)
  Local governments are no better. The housing crisis has its main source of income, the business tax can fall away. Until now, states and municipalities on the 2.8 trillion dollar market for municipal bonds could finance more often because the U.S. government attacked them with the "Build America Bonds" program (BAB) on the ground. Under this program does go, the government 35 percent of interest paid by bonds that states and municipalities. (9) But after the U.S. congressional elections which changed the voting majorities in favor of Republicans in Congress now found himself no longer a majority, this to extend the program beyond 2010. (10) It expired at the end of December - which is not without consequences for highly indebted countries and communities and the U.S. municipal bond market will remain.
• same time, the Fed flooded the markets with cheap money and constantly makes the printing presses running at full speed. No other country does so in such numbers. In the crisis was the U.S. central bank for 1.7 billion U.S. dollar loans obtained, of which 300 billion U.S. treasury bonds. In early November 2010 they decided until mid-2011 to acquire a further 600 million U.S. dollar government bonds. In addition to the Fed owned, but end-papers be replaced, so that the new bond purchases add up to 850 to 900 million U.S. dollars. (11) Because that's all nothing so far to the sluggish economic recovery and has amended the high unemployment, many complain that the Fed, thus significantly contribute to new bubbles in financial markets since then, the money flowed.

addition intensified but, for example, the situation in the U.S. housing market:

• The nationalized at the height of mortgage finance companies Fannie Mae and Freddie Mac, the end of 2009 for about Sptember 70 percent of liquidity in the U.S. housing market and stood together guarantee mortgage of more than 5,000 billion U.S. dollars, cost the state billions continue. (12) promised With the nationalization of the institutions in September 2008, Henry Paulson, state aid of up to 200 billion U.S. dollars. Because that is not enough, increased his successor Timothy Geithner, the amount only up to 400 billion U.S. dollars, and put the institutions then at the end of December 2009, a blank check: the upper limit for state aid has been repealed. (13)
  Two years after the nationalization, the end of September 2010, the government had put already of 148 billion U.S. dollars in the two institutions. The relevant U.S. regulator FHFA expects Fannie need and Freddie in the next three years to survive together in addition to 215 billion U.S. dollars in state aid is. (14) is a realistic alternative to the support it has not, because the market is threatening to collapse if they were stopped. A recovery of the market is not in sight, on the contrary, the situation heats up again.
• The price decline in the real estate market is not stopped, the persistently high unemployment exacerbated the situation and increases the number of foreclosures. put estimates of Amherst Securities in the U.S. as early as 7 million homes in foreclosure procedure. (15) 2.1 million U.S. homeowners in 2010 had put into the debt trap and over half of them expect the end of 2010 with the forced evacuation of their homes - often wrongly, as we can now. (16)
  The Justice Department and 50 states have Betrugser averaging initiated for unauthorized eviction. Banks and foreclosure specialist firms are the focus. Instead of helping debtors, as does the U.S. Government's assistance program "Affordable Home Modification Program (HAMP) for in installments in troubled mortgage borrowers were apparently without adequate examination of the cases mass evictions started. (17) Most banks have in the real estate boom in lending activities, no safety precautions taken in the event that the debtor can not pay. Politicians accuse the banks to have been based on the proceedings initiated in hundreds of thousands of cases on faulty documents. (18)
  Some banks have responded quickly and forced full-extension precaution stopped to examine the cases. This could exacerbate the situation in the housing market but at the end when it subsequently to a wave of forced evictions is, because that would put increasing pressure on property prices. Even before banks with the moratoria calculated experts began with a renewed slippage in property prices by 7 to 13 percent. (19)
• also been cleared and now masses of empty houses cause big problems. After the eviction appeared to leave many banks, in possession of the homes after the loans have burst, neglected the property for reasons of cost easy. This has a negative effect on the prices of houses in affected residential areas every abandoned house pushes the value up to six adjacent Worldwide average of at least $ 10,000. In addition, the polluter pays empty property communities high costs for cleaning, lawn care, lack basic holding tax incurred and often also for the necessary demolition. Many communities now complain against the banks. It's about hundreds of millions of U.S. dollars. (20)
  

That is, as I said, not an exhaustive list of unresolved problems and new entrants. To be considered are also some additional problems in the market for commercial properties. unresolved

Washington High debt, many states and cities, and more growing problems in the housing market, low growth, high unemployment, an ever further apart gaping income and wealth gap (see: "The American Crisis"), with the one percent super-rich at the top and more poor and more than 40 million Americans who depend for survival on the receipt of food stamps, plus the advanced industrialization, outdated facilities or dilapidated U.S. infrastructure - from roads to bridges to the rail network - whose restoration costs, the United Engineering Association American Society of Civil Engineers (ASCE) once on total of 1.6 trillion estimated (2007) (21) - the situation in the United States is very serious and a real improvement in sight.

Against this background it is very surprising that the U.S. debt crisis in the financial markets and the focus is U.S. rating agencies, but the EU. The raises, along with the barrage of press and the media against the euro, some questions. One - admittedly very speculative - question is whether it far in the Euro-crisis, at least one piece is also about to divert attention from the much larger problems of the United States - primarily because they have not been able to solve? A further question would then be derived if the euro crisis, bearing in mind where "the financial markets" and "the rating agencies" to be located geographically, are ultimately not even a bit more concern about the status of the U.S. dollar as reserve currency is owed? The U.S. has at least put to the efforts of States in the ancient world, combined to form a union menzuschließen and a single currency, the euro, seen always with a degree of "skepticism". But this is conspiracy theory, please just forget about it again.

addition recommended articles:
- Dramatic Appeal: Geithner warns Congress against insolvency of the U.S. (by 6:01:11)
- rampage in Arizona: U.S. lawmakers shot down during event (by 8:01:11)
- High debt: Star economist warns of dollar crash (by 9:01:11)
- gigantic mountains of debt: U.S. states are facing the bankruptcy (v. 30.01.11).