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
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
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 firstname.lastname@example.org. 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
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
“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 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
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.(email@example.com)