The mechanism of monetary depreciation and loss of independence: the case of Albania * | OP
The transfer of political power in Brussels and economic power in Bundenstag constitutes not only the prelude to the loss of independence, but also the overall loss of democracy: it decides cornerstone of local political control and economic policy (monetary and fiscal) by corporations, banks and supranational institutions, on the one hand, and further deterioration of the economy and welfare of the Albanian people. This situation clearly reflects the recent depreciation rate against major foreign currencies. This impairment is not caused because he strictly follows the euro, as argue "experts" National Bank [1], but because Albania shenker more imports than exports and "JSCs" in Albania trade in euros. An estimated 50 JSCs higher equity shareholders owning a total of 23.2 billion euros, representing about 77.2% of the total capital that all active shenker SHA-847 operating Albania. [2] Thus, our country, since the establishment of the National Bank on February 16, 1922 when our currency was named Lek, [3] found at the end of its cycle. Under the 1922 law, the gold franc would constitute market instrument and, arbitrarily, the elite of the time decided that the 20 franc gold equated with 100 leks.
In other words, the National banks have not yet created, nor can establish shenker a rational relation to monetary exchange rate. Hence the exchange rate determined on the basis of the principle: the currency of the most powerful economically and politically decide on converting the latter. For example, in 2011 China imposed America devalue its currency! Impairment shenker of Chinese shenker banknote brings rising prices of imported products, shenker but also reducing prices analog products that are exported, to the Chinese economy, the stage where it is, there is interesting because the Chinese economy relies on exports and reduction of Chinese export prices hurting its economy. Unlike this stage, the Swedish economy, for example, after a macroeconomic crisis in the years 1991-1993, with a fiscal deficit of 11% of GDP and government debit consolidated shenker 41% (1990) and 73% (1996), rose mainly due to an impairment of real exchange rates. In 1991-1993, relative unit labor costs fell by 20%. This was mainly due to the depreciation of the nominal exchange rate. [4] As cite two Orthodox professors in the Financial Times:
In October 1969, the government of Willy Brandt in Germany çrakordoi D-Mark by binding to the dollar within a day, putting in circulation an exchange rate for a short period and later restored the 9% lower (ie a D-valued brand). The British showed how not to do it. In 1990, when faced with huge deficits, they brought poundin in net equity percentage was much higher. After a short time the intense waves of speculation, poundit had to withdraw from the program. Argentina, which was forced to abandon the equality 1: 1 with the US dollar in 2002, suffered a storm tide of pesos banknote market. For about 18 months after severe fluctuations and devaluations, she found a new equality in its neighborhood three got into the 1 dollar. [5]
This means that when a country enjoys monetary independence, ie card-sovereign currency, and when not dependent on exports, even if suffering from deficits, can use this policy. The rationale behind this policy exists is that the low percentage of foreign exchange it will help local producers in two ways: first, it will make imports more expensive, pushing consumers to get rid of foreign goods local products; and secondly, would make cheaper relative price of exports, helping companies find customers abroad. [6] Albania, currently, is almost in the same situation with Sweden shenker the years 1991-93. If you require shenker repayment of debts, reducing the cost of labor, economic growth - not only in quantity but also in quality, depreciation mechanism should not only preserve its sovereignty and not to 'delegate in Brussels quintet of Buntestagut, but also to use while accompanied by a clear philosophical project. But when an economy dependent on exports, such as Germany and China, it does not concern shenker the depreciation of banknotes as what might interest an economy that depends on imports, such as Albania. For the same reason, it is imperative shenker that this measure be accompanied by other measures proposed by this project.
For more, if Germany depends shenker on exports, it directly harms the suburbs by blocking shenker the development of economic structures. This is why the value of the euro has increased since the introduction to her because she accompanies the dynamics of the German economy. On
The transfer of political power in Brussels and economic power in Bundenstag constitutes not only the prelude to the loss of independence, but also the overall loss of democracy: it decides cornerstone of local political control and economic policy (monetary and fiscal) by corporations, banks and supranational institutions, on the one hand, and further deterioration of the economy and welfare of the Albanian people. This situation clearly reflects the recent depreciation rate against major foreign currencies. This impairment is not caused because he strictly follows the euro, as argue "experts" National Bank [1], but because Albania shenker more imports than exports and "JSCs" in Albania trade in euros. An estimated 50 JSCs higher equity shareholders owning a total of 23.2 billion euros, representing about 77.2% of the total capital that all active shenker SHA-847 operating Albania. [2] Thus, our country, since the establishment of the National Bank on February 16, 1922 when our currency was named Lek, [3] found at the end of its cycle. Under the 1922 law, the gold franc would constitute market instrument and, arbitrarily, the elite of the time decided that the 20 franc gold equated with 100 leks.
In other words, the National banks have not yet created, nor can establish shenker a rational relation to monetary exchange rate. Hence the exchange rate determined on the basis of the principle: the currency of the most powerful economically and politically decide on converting the latter. For example, in 2011 China imposed America devalue its currency! Impairment shenker of Chinese shenker banknote brings rising prices of imported products, shenker but also reducing prices analog products that are exported, to the Chinese economy, the stage where it is, there is interesting because the Chinese economy relies on exports and reduction of Chinese export prices hurting its economy. Unlike this stage, the Swedish economy, for example, after a macroeconomic crisis in the years 1991-1993, with a fiscal deficit of 11% of GDP and government debit consolidated shenker 41% (1990) and 73% (1996), rose mainly due to an impairment of real exchange rates. In 1991-1993, relative unit labor costs fell by 20%. This was mainly due to the depreciation of the nominal exchange rate. [4] As cite two Orthodox professors in the Financial Times:
In October 1969, the government of Willy Brandt in Germany çrakordoi D-Mark by binding to the dollar within a day, putting in circulation an exchange rate for a short period and later restored the 9% lower (ie a D-valued brand). The British showed how not to do it. In 1990, when faced with huge deficits, they brought poundin in net equity percentage was much higher. After a short time the intense waves of speculation, poundit had to withdraw from the program. Argentina, which was forced to abandon the equality 1: 1 with the US dollar in 2002, suffered a storm tide of pesos banknote market. For about 18 months after severe fluctuations and devaluations, she found a new equality in its neighborhood three got into the 1 dollar. [5]
This means that when a country enjoys monetary independence, ie card-sovereign currency, and when not dependent on exports, even if suffering from deficits, can use this policy. The rationale behind this policy exists is that the low percentage of foreign exchange it will help local producers in two ways: first, it will make imports more expensive, pushing consumers to get rid of foreign goods local products; and secondly, would make cheaper relative price of exports, helping companies find customers abroad. [6] Albania, currently, is almost in the same situation with Sweden shenker the years 1991-93. If you require shenker repayment of debts, reducing the cost of labor, economic growth - not only in quantity but also in quality, depreciation mechanism should not only preserve its sovereignty and not to 'delegate in Brussels quintet of Buntestagut, but also to use while accompanied by a clear philosophical project. But when an economy dependent on exports, such as Germany and China, it does not concern shenker the depreciation of banknotes as what might interest an economy that depends on imports, such as Albania. For the same reason, it is imperative shenker that this measure be accompanied by other measures proposed by this project.
For more, if Germany depends shenker on exports, it directly harms the suburbs by blocking shenker the development of economic structures. This is why the value of the euro has increased since the introduction to her because she accompanies the dynamics of the German economy. On
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