Reflections fpr payment of the covid19 debt coronabonds


 

 


 

 

 

Last week, you may have seen the French Minister for the Economy Bruno le Maire with his arms up looking victorious. The ministry was pleased to have an agreement at the European level of 500 billion euros to "support" the economy of the EU countries.

This sum comes on top of the 750 billion + 118 billion euros released by the ECB in the days following the confinement in the week of March 17, 2020. We are at least 1368 billion in monetary impression.

 

European nations enslaved by global governance.


The Minister of Economy warned: "it will take efforts"

By the term "unblock", understand "print". Clearly the official printers will print paper approved in euros currency based on no wealth, functioning entirely on the confidence of the citizens. The amount of this sum will therefore be a debt shared at European level called "coronabond"

 

 

A debt that will have to be repaid. Who will pay? By accepting this "help" in this way, Europe validates a guardianship.

This is reminiscent of the Greek events of the 2010s, themselves having experienced a trusteeship of Europe. Although these present much more positive figures in the face of the coronavirus crisis (93 deaths on 12/04/2020 compared to 13832 in France). This nation has the economic experience that the nations of Europe are about to experience to repay the debt of the coronabonds.

 

 

"Coronabonds" debt settlement measures

 

Let’s see today what we could consider as a requirement at European level to repay this debt in an amount never seen in the history of Europe, or even doubtless envisaged when the EU was created. We speak here vulgarly of "hair cut"

-10% VAT increase

This tax named painless, make any consumer contribute to everything.

-10% tax on all bank deposits (as has been done in Greece)

-Higher taxes on fuel, electricity and all other energy.

This tax would make a maximum of citizens contribute.

-Entry of all bank savings.

Above 100,000 euros, or in full depending on whether the state declares bankruptcy, since 2014 the state seemed to be preparing at European level to prepare a legal framework for the law on the seizure of your bank savings including checking accounts. What is in the bank does not belong to you.

-Higher corporate taxes

 

-Suppression of holidays

-Local tax increases

-Income tax increases

 

The world after

 

What we already call the next world would be, with such measures, an even higher widening between the class of the rich and the poor, seeing the middle class simply disappear.

Will such measures make it possible to renationalise certain companies, to relocate others and to reinvest massively in health? These questions arise.

This massive injection of money is aimed at avoiding a recession that would be fatal to many of the Union's banks. A recession would lead to defaults on personal loans on consumer and real estate loans as well as defaults on companies putting themselves in legal protection (Freezing of any debt for 2 years renewable) or in pure bankruptcy filing and simple. This domino effect would therefore increase unemployment and poverty. An international economic disaster.

 

For those following the economy for ten years, we know that the 2008 crisis has never been resolved, we expected a crisis of even greater magnitude (see previous articles) and that the injection never settled anything at all. A system reboot seems the only solution to an economic recovery. Countries with smoother taxes will certainly recover more easily than others with heavier taxes and taxes. The way we read the economy should also change by ceasing to measure the good economic health of a country by the holy growth that took place after the Second World War.

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