It is such heartening news, the Trillion Euro Stimulus that will be commenced by the European Central Bank within a matter of days, in March. It is understood they will be pumping out about 60 Billion Euros per month within the Euro Area countries, and this will bring much needed support in some of them and an unexpected boost in the others.
The Greeks can surmise some reassurance from this, that the necessary support will be available to them to avert any default. Now that Greece has registered a growth in the gross domestic product in the most recent quarter of 0.7 percent, it seems the measures they are already taking will enable them to grow even more, reducing joblessness and despair and creating enterprise, simplifying shop opening laws and helping their beautiful warm country bring even more tourists there, and not only to enjoy their retsina and ouzo and the national Greek dance.
There were words in the press that the ECB has promised to allow Greece about 59.5 Billion - the lion's share of the first month's stimulus. If that is so, Greece knows how they are honoured to be among the Eurozone nations.
Italy, France and Portugal as well as the Emerald Isles will also be looking for some of the stimulus in the coming months. I can imagine these nations flourishing soon. There will be local demand, as well as from outside, for homes in these civilized nations. Houses and hotels in Dublin currently seem to be at bargain basement prices; an equal attention to the green lands for dairy pasture and agriculture will certainly make a very welcome contribution to the improvements in their economy, as well as the financial and pharmaceutical industries.
Do you think people will be travelling for trade and tourism from nation to nation? I think so.
Oil seems to have stabilised in price, around the $50-$60 level. That there is a gap between the Ice Brent and WTI shows support is being built up, and prices will likely bounce around these levels for some time. I really do not believe they will go down, although some people may hope so. The current levels are beneficial for most economies, and would allow the shale and fracking industries to continue to remain viable, as well as for the OPEC and other Oil producing nations to keep their economies moving forward. Around current pricing, all the world economies can hold well.
I imagine good times are ahead for the Euro Area nations and their trading partners. If there is agreement and a resumption of peace over Ukraine, the whole region would benefit. Hopefully Russia can benefit by reduction of sanctions; the restoration of their great economy will be their peace dividend. I pray they can be friends with Ukraine, which they consider a brotherly nation.
Under current sanctions, trade of around $24 Billion annually is lost between Russia and Germany, Ukraine and the United States. Only when the trade re-commences can the national books be squared on this, and that would be good for everybody. People should be given the choice of enjoying the foods and goods they enjoy from other cultures, and trade keeps the ports, airports, freight companies, offices and warehouses busy, and the people happy earning their living in those sectors, on all sides of the world. I pray that will resume very soon.
Have a little port or sherry or a thimble of cherry liqueur as a toast to thee.