Milan, (TMNews) - "To overcome the crisis in the eurozone,

turn upside down the pattern of Eurobonds. Instead of the debt we

in common that which is virtuous, GDP. The more a country is virtuous and

more debt reduces, with the advantage of a greater common

stability and economic recovery of the eurozone. " This is

proposal monetary policy that launches Gianni Pittella, deputy

deputy chairman of the European Parliament, which resumes thesis

drafted by Professor Marcello Minenna, economist mathematician,

in an article published this morning by "If countries with

a debt-GDP lower holding back on Eurobonds, such as

Germany - said Pitella - is because they imagine of duty

putting their hands in their wallet to pay the debts of

others. Then turn upside down the scheme. An example of the finance

service economy and the public interest. "

" The economies of the euro zone countries - he added -

share the same currency but produce and inflations costs

money different with severe damage to the economy and the cohesion

European Union. The problem, though - he observed Pitella - not the euro

but the slowdown in the process of political integration

Europe. It would take more Europe. If every country gives, at

at European level, debt share of 30 per cent of its

GDP. For example, Italy with approximately 1,500 billion GDP

would give € 450 billion, Germany with about 2600

billion, nearly $ 800 billion. All together the Eurozone countries

would create a virtual fund of about 2,850 billion euro. "

" Imagine - said in Pitella piece of

- whether the European Central Bank, suitably modifying

the statute, to manage that amount. Would need to purchase

bonds of each country, as they come to

maturity, up to the roof that each country has in common.

In short it is a game of spin: Italy has given 450 billion, which

are 30 per cent of its GDP, and gradually becomes lighter

450 billion of debt, the Germany 800, and so all

other countries. The higher the GDP, the more debt you down, and you do not

displeased anyone. " According Pitella, "the first immediate effect

of the proposal would be the reduction of the stock of sovereign debt

Eurozone. In particular, the debt / GDP ratio is

would position below the symbolic threshold of 100% for

all EU countries except Greece, beyond which it is difficult

speculate with the current rules of the Eurosystem - including the

fiscal compact - that the debt can start a natural path

reduction. "

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