The Head Of ECB Sees Markets In Worst Crisis Since WWII

Dr. Michael LaitmanIn the news (From Yahoo News): “The head of the European Central Bank on Tuesday defended his institution’s decision to help stabilize the bonds of Spain and Italy, but indicated that the ECB doesn’t see itself as the eurozone’s lead firefighter for long.

“‘It is the worst crisis since World War II, and it could have been the worst crisis since World War I if leaders hadn’t taken the important decisions,’ [said] ECB President Jean-Claude Trichet.

“Trichet didn’t directly confirm that the ECB has been buying up the bonds of Italy and Spain, saying only that his banks ‘is in the secondary market’ for eurozone bonds…

“The ECB head also indicated that his bank still sees the main responsibility for fighting the debt crisis with eurozone governments and not the central bank.

“‘I won’t say’ how long the ECB will buy bonds on the secondary market, Trichet said. ‘What we expect is that the governments do what we consider to be their job.’

“He said eurozone countries needed to implement recently taken decisions to allow their bailout fund to buy government bonds on the open market ‘as rapidly as possible.'”

My Comment: Of course, everyone understands that this is done out of despair. Nobody has a rescue plan. People still don’t feel that it’s vital to hear that the solution is in the social dimension, in bringing the entire society to mutual guarantee, even in the name of saving the nation. But the program of nature has plenty of pressuring methods in store to compel humanity to seek unity, the similarity to global nature.

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