The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
Ok, this is what the rules say:
By contrast, general measures are not regarded as State aid because they are not selective and apply to all companies regardless of their size, location or sector
So... offer all companies, no matter what size or sector or owner, the option of taking part in a massively diluting rigths issue, where the government injects, say 10 % of current equity in the company, and in return gets new shares equal to 1000% of the current number of shares. This would be equal and open to all, but no company would ever except the "offer", except one that is already 100% state-owned.
In this way you could issue sovereign bonds and transfer the cash into state-owned power companies while avoiding the illegal state aid rules.
Peak oil is not an energy crisis. It is a liquid fuel crisis.
Fiat money allows such nonsense to be inflated away (which is why inflation-indexed debt is as systemically risky as especie pegs).
If you are not convinced, try it on someone who has not been entirely debauched by economics. — Piero Sraffa
.... actually it is even worse than that. Shock implies surprises, but energy production is predictably going to dee upheavals. - it is the one sector of the economy guaranteed to experience technological changes. I dont know how we will be producing electrons in 2032, nor what they will cost, and neither does anyone else. -
I can list half-a-dozen highly plausible optinons for future generation mixes and technologies off the top of my head - some of them are unavoidably moderately more expensive than unmitigated coal, and some of them are ridiculusly cheap. Either of which would completely wreck any currency based off the supply of power. Bad, bad, bad idea.
some of them are ridiculously cheap.
just supposing we envision a future ever embroigled in the 'winner-takes-all' zero-sum game we call predatory capitalism, couldn't we make at least it fair?
ie no whining when the wheel turns against you and you bet loses to the house. if your currency breaks on the reefs of reality, then cut your losses and bet on another one.
or go home and bake cookies...
'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty
by Oui - Nov 26 42 comments
by Frank Schnittger - Nov 30 3 comments
by Frank Schnittger - Nov 23 17 comments
by Frank Schnittger - Nov 20 20 comments
by epochepoque - Nov 16 32 comments
by gmoke - Nov 15
by Frank Schnittger - Nov 13 41 comments
by Frank Schnittger - Nov 9 124 comments
by Frank Schnittger - Nov 303 comments
by Oui - Nov 2642 comments
by Frank Schnittger - Nov 2317 comments
by Frank Schnittger - Nov 2020 comments
by epochepoque - Nov 1632 comments
by gmoke - Nov 15
by Frank Schnittger - Nov 1341 comments
by Frank Schnittger - Nov 9124 comments
by Frank Schnittger - Nov 5139 comments
by Frank Schnittger - Nov 3215 comments