Atendendo a algumas respostas apreciativas e inúmeras ignorativas, aqui está......

08 setembro 2012

How to save the Euro

While struggling with a class of matrices that appears useful in the study of elliptic partial differential equations, I found out that a much simpler problem, that of saving the Euro, admits a solution, and that it is unique.

Italy and Spain must set a date 2 years in the future to hold a referendum on whether to continue using the Euro. The governments will promise to campaign for the Euro while making all preparations for an orderly transition back to separate currencies. This gives an deadline for European financial authorities to get the economies back on track.

So far, the authorities have not shown they feel the problem is theirs. They have been happy procrastinating and pushing unsound austerity measures designed to clear their own conscience by blaming the less fortunate for European economic troubles. It is necessary to give the bureaucrats an ultimatum.

If Europe can execute the correct maneuver out of the crisis, then unemployment will go down and the people will vote to remain in the Euro. If it persists in the current course, then the currency integration project will end. The authorities must be told they are responsible for failure.
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