Definition of Fendy

If you look up in any English dictionary the word Fendy you would see that it means "capable and resourceful (as at managing and providing)".

This is why our firm was named Fendy - because we are capable of realizing your business ideas. Because we are resourceful and you can leave the hard work to us and we would do it as soon as possible with minimum effort and cost.

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A banking license for the ESM will deepen the crisis

A banking license would allow the ESM to refinance directly with the ECB and buying government bonds with new money. This could increase the risk premiums on government bonds to stabilize southern European states. However, the risks were significant. Of course, given the circumstances, it is treated as a completely normal. The experience /withal not only in Germany/ shows that the European Central Bank must not be used to finance public debt.

euro

Political Economic rising government debt are easy to justify. History shows that the temptation for the States was always great to get rid of debt by printing. “There is no free lunch” – this quote is attributed to Milton Friedman and applies to the so-called Euro-saviour. For the bill to pay the depositors of the devaluation of their savings. Moreover, the euro zone gets permanently into a depression and 15 years after the establishment of the ECB seem to forget the good intentions of those days.

With the purchase of government bonds on the secondary market, the central bank has already take advantage of out its Now, if the ESM should be also equipped with a banking license, the door for the monetization of government debt is pushed final. Then could in fact be doing exactly what is forbidden.

The bonds purchased in turn, can be deposited with the ECB as collateral for fresh money toECB_2268036b use it to buy more bonds. The consequences would be severe. Why should the European Member States undertake austerity measures? No savings, no money is available for investment, and without investment, there is no growth. A banking license for the ESM will exacerbate the crisis. Japan has shown how artificially interest rates and the monetization of government debt low by using zombie banks (otherwise would be the ESM) is a country in more than twenty years of permanent crisis in ever-increasing national debt (now at about 200 percent of GDP) with no prospect of improvements.

The federal government would do well here,especially in case it decided to counter. The prospect of a lasting stagflation will result in breaking Europe!

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