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European Financial Seismic Wave


By: Professor Dr. Emmanuel Omoh Esiemokhai
 Published April 10th, 2011

Portugal will require about 80 billion Euros from leading European financial institutions, in its bid to bail-out its crumbling economy. Hopes have crystallized that the facility could be granted in May, 2011.

On April 15, 2011, the European Central Bank raised its interest rates by 0.25%.Wil this assist or worsen the borrowing ability of Portugal?

For over a decade, European economists relied mostly on permutations from the World Bank and IMF.These institutions dealt more with the theoretical aspects of the European economy, while individual states dealt in considerable details with their monetary economic reforms.

European national incomes are made up of “total goods and services produced namely (a) the national income, (b) national product and (c) the national expenditure.” All these are now under stress.

In the last ten years, there has been Euro-American national expenditure on wars, armament production, nuclear research, in pursuit of the democratization of ancient regimes around the globe.

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By withdrawing from the Libyan confrontation, the United States seems to begin to see that it must cater for Americans with dwindling resources, before its self-imposed world democratizing duty. Let the world go away, as it surely will.

NATO is now killing Libyans in order to save Libyans. They are yet to invent how to make their bombs identify civilians. The recent bombing of rebel positions has led the rebels to question on whose side NATO forces are Wars cost money and human lives! War economies do not grow.

What is visible in the European economic system, are “the law of diminishing marginal productivity and the law of increasing costs. European money can no longer distinguish its static function from its dynamic role, which is to assist European financial activities.”

In England, there will be drastic cuts in jobs and social policies, Ireland has landed itself into a debt peonage, and Greece is managing on the edge. Spain is watching its weight. There is disquiet among the citizens of Europe.

The American government is threatened by a shut-down, which could affect over 8000 government workers. This is the result of the agitation by the Tea Party Movement that strengthened Republican revolt in America.

Amidst these interlocking circles of misery, social conditioning has become a nightmare.

Portugal must effect tax measures, which could provoke popular uprisings as we saw in Greece and in Ireland. Germany is insisting on knowing the terms and size of the bail-out. Its Teutonic culture of thrift, hard-work and efficiency, does not permit her to squander her riches.

The German Government is mindful of the ground-swell of hateful opinion amongst its populace. They are not impressed by governmental indulgence in medieval chivalry. The Germans are aware of the foreign exchange risks in international syndicated loans and the vagaries in a sudden review of international banking and financing system.

The European financial system needs structural adjustment, open markets and foreign investment in Africa, within the legal framework of the WTO. This is an international organization, which is effectively developing and shaping international economic prosperity around the world.

Europe may wish to implement OECD Guidelines for Multinational Enterprises and the OECD Declaration on International Investment and Multinational Enterprises. Big European companies must learn how to reduce their greed and deal with mutual advantage ,as their operational philosophy.

Shell should not have faced problems in the Niger Delta, if it had understood its social responsibility to the local population, where they harvest their golden eggs.

African companies should also venture into European markets or at least start with neighbouring African markets.

A good example was set recently, when the Nigerian Global Fleet Group opened the Energy Bank of Ghana, in Accra.

Huron Blue Company, Abuja, promotes international trade. Operational licences can be obtained for trading partners, if the proposals are well articulated. Our contact address is eesiemokhai@yahoo.com. Out telephone no. is 07036660639.

We are committed to Euro-African international trade by eliminating the incredibly spooky atmosphere of lack of trust, dishonest maneuvers, advance fee fraud and other free trade impediments.

Euro-American companies we consult on their behalf complain about unwholesome practices like non-remission of funds, non-disclosure of material facts and plain robbery. We have worked out checks and strategies to minimize these free trade constraints. We check with the regulating official bodies to ensure that companies are properly registered, we check with the Chambers of Commerce to investigate the true financial and business standing of the trading partners. We sue for debts on behalf of our clients. We are very effective in ensuring good practices.

The new Federal Government of Nigeria will encourage our efforts to ensure that Euro-African Trade thrives to the benefit of all.

Until European governments sort themselves out the seismic financial wave could turn into a political tsunami.

In the Era of the Gentiles, Atonement and the Brotherhood of Man, man-made economic systems will not solve the present huge problems.

“There shall come forth a Rod from the stem of Jesse.

And a Branch shall grow out of its roots.

The Spirit of the Lord shall rest upon Him.

The Spirit of wisdom and understanding.

The Spirit of counsel and might.

The Spirit of knowledge and the fear of God.

(Isaiah 11verse 1 and2). God acceptance and worship are crucial if the world must obtain mercy.

Our successful elections in Nigeria will be more meaningful, if they ushers in a government that will actively engage in international trade. Relaying on oil from the Niger Delta alone will not be enough to meet the new societal challenges in Nigeria.

In my article entitled “Putin on Blueberry Hill, I challenged the Russian Prime Minister to do more about Russo/African relations. The Russian government, in response, promised to do 1 Billion Dollar business with Nigeria, if we get it right at the 2011 National Elections!

This is why I am fervently pleading with Nigerians to demonstrate maturity and conduct fair, free and credible elections.

Those politicians, who lose elections should think out viable business proposals, get in touch with the Managing Director, Huron Blue Company, Abuja, Nigeria, for new prospects in international trade. Politics is not as lucrative and dignifying as when you run your own business. So, let’s talk. Europe is ready for business with Africa and Nigeria is the place to invest in, under our watch.

Professor Dr. Emmanuel Omoh Esiemokhai, a Writer and Academic is a Consultant on International Trade.(eesiemokhai@yahoo.com) 07036660639

 




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