G Twenty

October 20, 2011

Abraham Alfonse Albert Gallatin

Image by Phil Roeder via Flickr

Dear Reader,

Greetings and Good Day,

“ There is nothing worse than a semblance of an agreement or an inadequate solution, in truth this is a moment of profound changes”

We knew from some news sources about a possible European solution to actual crisis, brokered by the Franco-German pillar, and filtered by the US treasury secretary.

We consequently heard about a split in positions and a blur line in the definition of the tools to be managed by Europe for the sake of debt limitation and containment.

Chancelleries were expecting a deal to emerge by October 23, to be introduced to the media and to the G-20 , however it is unlikely that this will happen.  

My perception is that we need to start yes in Europe, but with a wider consensus.

European governments alone can’t manage actual crisis, and widening the audience too much is not consequential, hence it is my creed that the G-20 must act, by calling an emergency summit by November 10  .

In my last posting I suggested a Russian role and involvement, but this nation is still anchored to past practices although apparently it has modernized a little bit, therefore I tend now to lay the solution of international financial problems in the G-20 forum.

What is needed more than any European rescue Fund or a World Bank or an IMF intervention, is a decision to deal promptly and without delay or limitations by the G20 to the upcoming solvency of Greece, which will transcend to a global level inevitably.

I envisage the initiative to be taken by the US and China, where a special emergency fund ( SEF) will be  instated by the G-20 , having the funds and sustainment of the adherent nations to salvage Greece from default.

It is sufficient initially to put together 100 Billion Euros financed or guaranteed by the G20 governments in different forms, and delegated to a financial arm already existing to apply a policy of debt relief.

The policy can consist of European banks write downs of 25 %, the SEF supervision of mergers and refinancing of selected European financial institutions, Intra-European departure special anti-default tax and other tools to be introduced by other experts.

Whenever the G20 will add failure to the international arena, then the populace is destined to embark on heavy protests, as the climate will deteriorate.

Perhaps then this is the appropriate momentum for warmongers to assuage an old dream to move the ME puzzle in a pendulum adverse to the actual fluid equilibrium.

Shall we expect from Mid November, harsh geopolitical crisis or will G20 leaders show robust vision and act wisely?

It is my conviction that Occupy Wall Street movement and the “Indignati” should call on a plenary session and adopt above plan or revise it, and appeal to the G20 to lead, based on this vision.  

” responsivness is a great scenario, implementation is an excellent outcome, where consistency is a common belief. Reason, tenacity, light and love ”

Thank you,