Currencies
The rise of spreads bank clerks occurred as result of a disequilibrium between offers and the demand for credit. With the strong retraction of the international market, the great companies had searched to substitute its external credit facilities for the intern, being raised the search at a scarcity moment. Beyond price increasing, the stated periods of the loans are shorter and had been extended the requirements and the guarantees for its concession. Another one aggravation is on to the behavior of the insolvency that, in the 2008 end, gave growth signals. Exactly without entering in they literally are broken.
Depending on the extension of the contraction in the world she will have little available resources in the system to finance dficits public, also the American, who will be significantly bigger in the next months or until years. In this in case that, the rise of the interests to attract them could be necessary, fact that already occurred recently in Russia, what it would aggravate the situation> of the global economy. The 2008 crisis, worse that it was thought. Which the solution? The abundance of credit generated for the adoption of extraordinary alavancadas financial operations and in disagreement with the limits established in Basilia II and the low interests practised in countries as Japan and U.S.A. had supplied the financial easinesses that had supported the long period of economic growth that if locked up with the crisis. The sensation of wealth propitiated for the facilitated credit propitiated a wide expansion of the consumption and the investments and brought euphoria to the markets. However, it raised the levels of indebtedness for unsustainable platforms e, in the American case, decimated the parsimony and it practically extinguished the saving.
It would have the grown world-wide economy with the same intensity of the last years in case that the environment did not exist that propitiated the high level of leverage and to the inadequate concession of credit? Perhaps without these easinesses, the average taxes of growth had been significantly more modest. It will be especially excellent to develop studies on which the reasons that ahead take the governments to the inao of the precursory signals of the crisis – this have been the typical standard of behavior of the economic authorities and the governments in some antecedent financial crises. Perhaps, the governmental interventions could be efficient if they had occurred had as soon as appeared the first signals of the crisis. However, in the current period of training, although the unknown and increasing nature of the interventions, the perception mainly in U.S.A. and other developed countries, is that they are insufficient and they are not getting resulted. Many interventions adopted in the attempt to rescue the financial system and to stanch the contraction, seem destined to save previous the economic model – to inject money in the banks without reestablishing the confidence in the system, reducing taxes, to lower interests and to increase the liquidity without solving the indebtedness nor stanching the unemployment, they can be insufficient or inefficacious, and aggravate the economic situation in the future. If nations if not to articulate to reestablish the confidence in the financial system and to develop new mechanisms of stabilization of the relative prices of the currencies
Tags: economy
